Item 1.01 Entry into a Material Definitive Agreement.

On September 24, 2008, Rockwell Medical Technologies, Inc. (the "Company") executed a Mutual Release and Settlement Agreement with FWLL, LLC and ST Holdings, Inc. ("Plaintiffs"), which had previously leased to the Company a facility and related equipment, to settle the outstanding litigation it had brought against the Company in South Carolina. Pursuant to the Mutual Release and Settlement Agreement, the Company will make two payments to Plaintiffs: an initial payment of $375,000 to be made by October 24, 2008 and a second payment of $375,000 to be made on or before January 1, 2009. The parties also agreed to dismiss with prejudice all claims in the above litigation, to a mutual non-disparagement covenant and to a mutual release and waiver of all claims each may have against the other.