secwatch.observer — SEC 8-K summary
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Issuer:     POWER SOLUTIONS INTERNATIONAL, INC. (PSIX)
CIK:        0001137091
Form:       8-K
Filed at:   2022-07-25T23:59:59+00:00
Accession:  0001193125-22-200900
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PSI and Hyundai Doosan amend supply agreement; PSI loses exclusivity, minimum purchase commitments removed
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- PSI loses exclusive right to purchase/distribute Doosan engines in US, Canada, Mexico as of July 1, 2022.
- Minimum purchase commitments and related penalties eliminated except for outstanding 2021 penalty balance of $[***] paid in installments through Nov 2022.
- Sales territory expanded to other markets with non-binding forecasts; pricing for 2022 fixed, negotiable for 2023+.
- Supply agreement term extended to Dec 31, 2023 with automatic renewal unless 3-month notice given.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1137091/000119312522200900/0001193125-22-200900-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1137091/000119312522200900/d382551d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-200900

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