As previously reported by Beam Global (the "Company") on its Form 8-K filed on October 7, 2024, Sandra Peterson, the Company's then Vice President of Sales and Marketing, provided notice of her resignation from her position in the Company effective as of December 31, 2024 (the "Separation Date"). On January 20, 2025, the Company and Ms. Peterson entered into a Separation Agreement (the "Separation Agreement"), under which Ms. Peterson is entitled to a cash severance payment of $18,750, which is payable by the Company within ten (10) days following the effective date of the Separation Agreement plus any commissions earned on payments received by the Company after the Separation Date on sales that were completed on or before October 15, 2024. In addition, the Company agreed to extend the post-termination exercise period of stock options held by Ms. Peterson to December 31, 2025. The Separation Agreement additionally includes a customary general release of claims by Ms. Peterson in favor of the Company and certain related parties. As consideration for the foregoing, Ms. Peterson has agreed to customary non-disclosure and non-solicitation provisions and to a general release of all claims against the Company and its affiliates. Ms. Peterson and the Company have also agreed to a mutual customary non-disparagement provision.

The foregoing description of the Separation Agreement is not complete and is qualified in its entirety by the actual terms of the Separation Agreement, a copy of which is incorporated herein by reference and attached hereto as Exhibit 10.1.