Letter Agreement for Settlement of Payables and Bridge Loan between ScanTech AI Systems, Inc. and Aegus Corp.
ScanTech AI Systems, Inc. and Aegus Corp. have agreed to settle outstanding payables and a bridge loan. In return for Aegus not taking action on these debts, ScanTech will issue Aegus 23,000 additional shares of common stock (on top of 70,000 shares already due) and pay $17,500, which will be credited against the total amount owed. After this payment, the remaining balance owed to Aegus is $178,000. Both parties have agreed to these terms as of February 7, 2025.
Exhibit 10.17
February 7, 2025
Aegus Corp.
2 Hamilton Drive
Florham Park, NJ 07932
Att: Robert Comizio
LETTER AGREEMENT
Robert:
This letter serves to confirm and memorialize an email agreement dated February 6, 2025, between us in which ScanTech AI Systems, Inc. (the “Company”) has agreed to settle outstanding matters with Aegus Corp. (“Aegus”) related to outstanding payables and a bridge loan due to Aegus.
In exchange for a forbearance against any action related to the above, the Company agrees to issue an additional Twenty-three Thousand (23,000) shares of common stock of the Company in addition to the Seventy Thousand (70,000) shares due to Aegus in its upcoming resale registration statement, and to pay to Aegus $17,500 (“Cash Payment”). The Cash Payment shall be credited against the outstanding payable due and owing to Aegus by the Company, which the parties to this letter Agreement hereby agree is $178,000 following the Cash Payment.
By signing this Letter Agreement you acknowledge and agree to the terms contained herein.
Sincerely, | |
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/s/ Dolan Falconer | |
Dolan Falconer | |
President & Chief Executive Officer | |
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Signed and Acknowledged by AEGUS CORP: | |
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/s/ Robert Comizio | |
Name: Robert Comizio | |
Title: CEO | |
ScanTech AI Systems, Inc. | 1735 Enterprise Drive, Buford, Georgia 30518
