Item 1.01. Entry into a Material Definitive Agreement. Litigation Settlement This filing on Form 8-K/A is being made for the purpose of (i) disclosing that the Company has entered into a Confidential Mutual Release and Settlement Agreement (the "Definitive Settlement Agreement"), effective December 30, 2013 , with Varilease Finance, Inc. and CCA Financial, LLC (collectively, the "Lessors"); and (ii) filing as an exhibit the Settlement Term Sheet that the Company entered into on November 25, 2013 with the Lessors (the "Settlement Term Sheet") and previously disclosed in the Company's Form 8-K filed with the Securities and Exchange Commission on November 27, 2013 (the " November 2013 Form 8-K"). The Definitive Settlement Agreement and the Settlement Term Sheet both relate to the settlement of all claims between the Company and the Lessors from two companion lawsuits regarding disputes arising from an equipment lease as previously disclosed in the November 2013 Form 8-K. Consistent with the Settlement Term Sheet, the Definitive Settlement Agreement provides that the Company will obtain title to all equipment under the equipment lease upon the payment to the Lessor of approximately $4.8 million over the next twelve months. In addition, under the Definitive Settlement Agreement the Company and the Lessors released each other from any and all claims related to the companion lawsuits, as well as dismissed such lawsuits. Item 9.01. Financial Statements and Exhibits. (d) Exhibits. The following exhibits relating to Item 1.01 are furnished with this Form 8-K/A: 10.1 Settlement Term Sheet, dated November 25, 2013 , by and among Unilife Medical Solutions Inc. and Unilife Corp. and Varilease Finance Inc. and CCA Financial LLC . 10.2 Confidential Mutual Release and Settlement Agreement, effective December 30, 2013 , by and between Varilease Finance, Inc. and CCA Financial, LLC , on the one hand, and Unilife Medical Solutions, Inc. and Unilife Corporation , on the other hand. --------------------------------------------------------------------------------
Most Popular Stories
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- Motley Crue's Nikki Sixx Marries Model Courtney Bingham
- Chinese e-Commerce Giant Alibaba Gears for IPO in U.S.
- Some California Cities Seeking Water Independence
- Apple, HP, Intel May Take a Hit from Slowdown in Smartphone Sales Growth
- FDIC Files Lawsuit on Behalf of Banks Allegedly Hurt by Libor Scandal
- SoCalGas Reaches Record Spend on Diversity Suppliers
- Will Missing Malaysian Jet Prompt Aviation System Change?
- Keurig Adds Peet's coffee, Alters Starbucks deal
- Natural Gas Discovery Could Lead to Cleaner Fuels