Glowpoint, Inc. (NYSEMKT:GLOW) entered into a settlement agreement with UTC Associates Inc. (“UTC”) related to claims that have been or could have been asserted against one another, including but not limited to claims in the litigation styled UTC Associates Inc. v. Glowpoint Inc., pending before the United States District Court for the Southern District of New York (No. 1:15-cv-05795-VEC) (the “Litigation”). The Litigation involved allegations that Glowpoint failed to pay amounts allegedly due under a Technology Development & Operations Outsourcing arrangement dated June 30, 2010.

Pursuant to the Settlement Agreement, (i) the Company paid $325,000 to UTC on September 30, 2016; (ii) the Company and UTC entered into a new services agreement pursuant to which the Company will purchase services from UTC subject to certain terms and conditions set forth therein; and (iii) the Company will issue shares of the Company’s common stock to UTC. Upon payment and delivery of the foregoing, both the Company and UTC will dismiss their respective claims in the Litigation, and each party has released the other party of all potential claims against the other party, including those that were or could have been asserted in the Litigation.