BOUNCE

[Mister Two]

Thanks, got this article kind of simplifies it... not sure how many shares they are handing over, or when; also sorry for the DD...

Hanover owns bona fide claims in the total aggregate amount of $7,205,547.92 against NewLead for non-payment of past-due debt for services rendered to NewLead (collectively, the Claim). NewLead has not paid, and will not be able to pay in the near term, any amounts due on the Claim. As a result, on June 21, 2013, Hanover commenced the Action, which Action the parties now seek to settle by this Stipulation of Settlement (the Settlement Agreement). NewLead desires to issue shares of NewLead's common stock (the Common Stock) in exchange for the release of the Claim and dismissal of the Action in its entirety. Hanover is willing to accept such shares of Common Stock in accordance with the terms of this Settlement Agreement, provided that the proposed exchange including the issuance of the Common Stock pursuant to this Settlement Agreement is exempt from the registration requirements of the Securities Act of 1933, as amended (the Securities Act), under Section 3(a)(10) of the Securities Act, which requires a finding from the Court that the terms and conditions of the proposed exchange are procedurally and substantively fair to Hanover prior to the issuance of the Common Stock pursuant to this Settlement Agreement, and through such exemption under Section 3(a)(10) of the Securities Act, NewLead shall be permitted to issue shares of Common Stock to Hanover in exchange for the release of the Claim and dismissal of the Action without registration under the Securities Act, and Hanover shall be permitted to immediately publicly resell such shares of Common Stock into the market without restriction.