<SEC-DOCUMENT>0001009448-15-000022.txt : 20150910
<SEC-HEADER>0001009448-15-000022.hdr.sgml : 20150910
<ACCEPTANCE-DATETIME>20150910163122
ACCESSION NUMBER:		0001009448-15-000022
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20150904
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150910
DATE AS OF CHANGE:		20150910

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CVD EQUIPMENT CORP
		CENTRAL INDEX KEY:			0000766792
		STANDARD INDUSTRIAL CLASSIFICATION:	SPECIAL INDUSTRY MACHINERY, NEC [3559]
		IRS NUMBER:				112621692
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-16525
		FILM NUMBER:		151101468

	BUSINESS ADDRESS:	
		STREET 1:		1860 SMITHTOWN AVE
		CITY:			RONKONKOMA
		STATE:			NY
		ZIP:			11779-7321
		BUSINESS PHONE:		6319817081

	MAIL ADDRESS:	
		STREET 1:		1860 SMITHTOWN AVE
		CITY:			RONKONKOMA
		STATE:			NY
		ZIP:			11779-7321
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>cvd8ksettlementagt.htm
<DESCRIPTION>CVD 8-K RE: SETTLEMENT AGREEMENT
<TEXT>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 14pt">Date of report (Date of earliest event reported): September 4, 2015</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 14pt; FONT-WEIGHT: bold">Entry into a Material Definitive Agreement</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt"><font id="TAB1" style="FONT-FAMILY: Times New Roman; MARGIN-LEFT: 36pt; FONT-SIZE: 14pt"></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt">On September 4, 2015, CVD Equipment Corporation (the &#8220;Company&#8221;) entered into a Settlement Agreement and Mutual General Release (the &#8220;Settlement Agreement&#8221;) with Development Specialists, Inc., an Illinois corporation, solely in its capacity as assignee for the benefit of creditors of CM Manufacturing, Inc., f/k/a Stion Corporation, a Delaware corporation (&#8220;DSI&#8221;), in full settlement and satisfaction of all claims asserted in the previously disclosed arbitration with DSI (the &#8220;Arbitration&#8221;) and companion action commenced in the Delaware Court of Chancery (the &#8220;Chancery Action&#8221;).</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt"><font id="TAB1" style="FONT-FAMILY: Times New Roman; MARGIN-LEFT: 36pt; FONT-SIZE: 14pt"></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt">Pursuant to the Settlement Agreement, CVD agreed to pay DSI the sum of $995,000, and each party released all claims of any nature which it had against the other.&#160;&#160;The parties will also execute and file stipulations of dismissal with prejudice, of the Arbitration and the Chancery Action.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt"><font id="TAB1" style="FONT-FAMILY: Times New Roman; MARGIN-LEFT: 36pt; FONT-SIZE: 14pt"></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt">A copy of the Settlement is annexed hereto as Exhibit 10.1.</font></font></div>

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<div style="TEXT-INDENT: 216pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; CVD EQUIPMENT CORPORATION</font></div>

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<TYPE>EX-10.1
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<DESCRIPTION>EXHIBIT 10.1 SETTLEMENT AGMT & RELEASE
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<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt; TEXT-DECORATION: underline">SETTLEMENT AGREEMENT AND MUTUAL GENERAL RELEASE</font></font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt">This Settlement Agreement and Mutual General Release (the &#8220;Settlement Agreement&#8221;) is entered into this 4<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">th</font> day of September, 2015, by and between Development Specialists, Inc., an Illinois corporation, solely in its capacity as Assignee for the benefit of creditors of CM Manufacturing, Inc., f/k/a Stion Corporation, a Delaware corporation (&#8220;DSI&#8221;), and CVD Equipment Corporation, a New York corporation (&#8220;CVD&#8221;; CVD and DSI are referred to collectively herein as the &#8220;Parties&#8221; and each as a &#8220;Party&#8221;).</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt">WHEREAS, DSI and CVD are parties to an arbitration filed with the American Arbitration Association, captioned <font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt">Development Specialists, Inc. v. CVD Equipment Corporation</font>, Case No. 01-15-0002-4485 (the &#8220;Arbitration&#8221;); and</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt">WHEREAS, CVD and DSI are parties to an action filed in the Court of Chancery of the State of Delaware, captioned <font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt">CVD Equipment Corporation v. Development Specialists, Inc.</font>, C.A. No. 11062-VCG (the &#8220;Chancery Action&#8221;); and</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt">WHEREAS, the Parties are desirous of settling all disputes, claims and lawsuits between them;</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt">IT IS HEREBY AGREED as follows:</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;In consideration of the sum of Nine Hundred Ninety-Five Thousand Dollars ($995,000) lawful money of the United States of America (the &#8220;Settlement Payment&#8221;), DSI does hereby remise, release, and forever discharge CVD, its heirs, executors, administrators, officers, directors, employees, attorneys, agents, affiliates, successors and assigns, from all manner of actions, causes of action, third-party actions, suits, claims or suits for contribution and/or indemnification, debts, sums of money, accounts, contracts, controversies, promises, damages, judgments, executions, claims and demands of whatever nature, at law or in equity, which DSI ever had, now has, whether known or unknown, anticipated or unanticipated, or which it, its heirs, executors, administrators, officers, directors, employees, attorneys, agents, affiliates, successors or assigns can, shall, or may have, from the beginning of time to the date hereof, including but not limited to those claims that were brought or could have been brought in the Arbitration or the Chancery Action.</font></div>

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<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;CVD shall pay the Settlement Payment by wire transfer of the full settlement amount to the following account designated by DSI within ten (10) business days of the receipt by CVD or its counsel of a fully executed copy of the Settlement Agreement:</font></div>

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<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt; FONT-WEIGHT: bold">135 N. Robles Ave., Suite 600</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt; FONT-WEIGHT: bold">Pasadena, CA 91101</font></div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt"><font id="TAB2" style="FONT-FAMILY: Times New Roman; LETTER-SPACING: 9pt; FONT-SIZE: 14pt">&#160;&#160;&#160;</font><font id="TAB2" style="FONT-FAMILY: Times New Roman; LETTER-SPACING: 9pt; FONT-SIZE: 14pt">&#160;&#160;</font>4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;It is understood and agreed that the mutual releases set forth hereinabove extend to all claims of every kind,&#160;nature, and description whatsoever,&#160;current or future,&#160;suspected or unsuspected, known or unknown,&#160;within the scope of their respective releases, and that&#160;existed as of the date the Parties execute this Agreement.&#160;&#160;The Parties expressly acknowledge that they are familiar with and expressly waive and relinquish every right or benefit that they have or may have under the provisions&#160;of Section 1542 of the California Civil Code and any comparable statute of any other jurisdiction or common law principles of similar effect as to unknown claims within the scope of their respective releases.&#160;&#160;Section 1542 reads as follows:</font></font></div>

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<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt">A&#160;GENERAL&#160;RELEASE&#160;DOES&#160;NOT&#160;EXTEND&#160;TO&#160;CLAIMS&#160;WHICH&#160;THE&#160;CREDITOR&#160;DOES&#160;NOT&#160;KNOW&#160;OR&#160;SUSPECT&#160;TO&#160;EXIST&#160;IN&#160;HIS&#160;OR&#160;HER&#160;FAVOR&#160;AT&#160;THE&#160;TIME OF&#160;EXECUTING&#160;THE&#160;RELEASE,&#160;WHICH&#160;IF&#160;KNOWN&#160;BY&#160;HIM&#160;OR&#160;HER&#160;MUST&#160;HAVE&#160;MATERIALLY&#160;AFFECTED&#160;HIS&#160;OR&#160;HER&#160;SETTLEMENT&#160;WITH&#160;THE&#160;DEBTOR.</font></div>
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<div style="LINE-HEIGHT: 2.25"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Execution of this Settlement Agreement by CVD shall be deemed to be a waiver of CVD&#8217;s Proof of Claim filed with the DSI Assignment estate, a copy of which Proof of Claim is attached as Exhibit L to DSI&#8217;s Arbitration complaint.</font></div>

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<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt">8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Parties do not concede that any law, other than the law of the State of Delaware, is applicable to the Settlement Agreement.&#160;&#160;The Parties acknowledge that they may discover facts in addition to or different from those that they now know or believe to be true with respect to the subject matter of this Settlement Agreement, but that it is their intention, to fully, finally, unconditionally and forever settle and release any and all claims released hereby, whether known or unknown, anticipated or unanticipated, which now exist or existed at any time prior to consummation of the Settlement Agreement, and without regard to the subsequent discovery or existence of such additional or different facts.&#160;&#160;The Parties further acknowledge that the claims being settled hereby include, but are not limited to, any claims of fraud, including but not limited to any claims of fraud in the inducement of, or otherwise in connection with or related to, this Settlement Agreement and/or any matters contemplated hereby.</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt">9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Any provision of this Settlement Agreement which is prohibited or unenforceable shall be ineffective to the extent of such prohibition or enforceability, without invalidating the remaining provisions hereof.</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt">10.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;No waiver or modification of a term or condition of this Settlement Agreement shall be valid or binding, unless it is in writing and executed by each of the Parties to this Settlement Agreement.</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt">11.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;This Settlement Agreement contains the ENTIRE AGREEMENT between the Parties identified herein, and the terms of this Settlement Agreement are contractual and not a mere recital.&#160;&#160;This Settlement Agreement supersedes all prior agreements, whether oral or written, between the Parties with respect to the subject matter hereof, and the Parties acknowledge that they are not relying on any representations in entering into this Settlement Agreement other than those expressly contained herein.</font></div>

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<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt">12.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Parties further state that they have carefully read the foregoing Settlement Agreement; they know the contents thereof; they have obtained the advice of counsel; and they sign the same as their own free acts.</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt">13.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Each Party shall bear its own costs and attorneys&#8217; fees in connection with the Arbitration, the Chancery Action, and this Settlement Agreement.</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt">14.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Any dispute arising between the Parties with respect to this Settlement Agreement shall be submitted to Robert J. Katzenstein, Esquire, for mediation.</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt">15.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;This Settlement Agreement may be executed in counterparts, all of which together shall constitute one and the same instrument. Scanned .pdf&#160;&#160;and facsimile signatures will be accepted as originals.</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt">16.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Unless either Party notifies the other Party to the contrary, any notice or document requiring delivery hereunder shall be delivered in person or by recognized overnight, air carrier:</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 72pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt">If to DSI, to:</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt">Vernon R. Proctor, Esq.</font></div>

<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt"><font id="TAB1" style="FONT-FAMILY: Times New Roman; MARGIN-LEFT: 72pt; FONT-SIZE: 14pt"></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt">Proctor Heyman Enerio LLP</font></font></div>

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<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;IN WITNESS WHEREOF, the undersigned have set their hands and seals this 4th day of September, 2015.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 360pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt">DEVELOPMENT SPECIALISTS, INC., an Illinois corporation, solely in its capacity as Assignee for the benefit of creditors of CM Manufacturing, Inc., f/k/a Stion Corporation, a Delaware corporation</font></div>

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