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| CTTC.PK > SEC Filings for CTTC.PK > Form 8-K on 1-Feb-2012 | All Recent SEC Filings |
1-Feb-2012
Other Events, Financial Statements and Exhibits
On January 24, 2012, Competitive Technologies, Inc. ("CTTC") entered into a Settlement Agreement with former Chairman and CEO John B. Nano, pursuant to which CTTC released from escrow $750,000, an amount deposited following Mr. Nano's application for a prejudgment remedy on his arbitration demand originally filed in September 2010. CTTC will pay an additional $25,000 in statutory interest on the escrowed amount.
The settlement agreement also includes mutual general releases and mutual non-disparagement clauses, with clauses for costs and expenses of any litigation, including reasonable attorney's fees. CTTC's payments to Mr. Nano will be completed by January 30, 2012.
The following exhibits are filed herewith:
No.
Description
10.1
Settlement Agreement between Competitive Technologies, Inc. and John B. Nano Dated January 24, 2012. *Confidential Information in this exhibit marked "[Confidential Information Omitted]*" has been omitted pursuant to a confidential treatment request, and has been submitted separately with the Securities and Exchange Commission.
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