EX-10.1
from 8-K
10 pages
Settlement Agreement This Settlement Agreement Is Between the General Services Administration (The “Gsa” or the “Government”) Represented by Its Contracting Officers, Mary Ann Swearingen and Jonathan Woodcock, and Faro Technologies, Inc. (“FARO”), Represented by Michael Burger, President and Chief Executive Officer. the Government and Faro Will Collectively Be Referred to as the “Parties.” Whereas, on or About July 12, 2012, the Gsa Awarded Multiple Award Schedule 66, Scientific Equipment and Services, Contract No. Gs-24f-0044m, to Faro. the Period of Performance Runs Through July 11, 2022, and the Contracting Officer Is Mary Ann Swearingen; Whereas, on or About September 29, 2017, Gsa Awarded Multiple Award Schedule 84, Total Solutions for Law Enforcement, Security, Facilities Management, Fire, Rescue, Clothing, Marine Craft and Emergency/Disaster Response, Contract No. Gs-07f-197ga, to Faro. the Period of Performance Runs Through September 28, 2022, and the Contracting Officer Is Jonathan Woodcock; Whereas, Pursuant to the Terms of Faro’s Contract Nos. Gs-24f-0044m and Gs- 07f-197ga (Collectively Referred to Hereinafter as the “Contracts”), Faro Was Obligated to Comply With the Price Reductions Clause (“Prc”), Gsar 552.238-75, the Price Adjustment Clause (“Pac”), Gsar 552.215-72, the Trade Agreements Act (“Taa”), and Laws and Regulations Related to Small Businesses; Whereas, Faro Discovered That for Orders Placed Under the Contracts From July 12, 2012 Through December 31, 2018, It Was Not in Compliance With Certain of the Aforementioned Clauses, Laws and Regulations, Which Resulted in Inadvertent Overpayments by the Government, Sales of Products From Non-Taa Compliant Countries, the Fulfillment of Orders to Faro That
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