Document:

Supply Agreement, dated as of November 9, 2004

 EXHIBIT 10.1 
  
 SUPPLY AGREEMENT 
  
 THIS SUPPLY AGREEMENT (the “Agreement”) is made effective as of this 9th day of November, 2004, by and between MPAV Acquisition LLC (to be
renamed Putnam Plastics Company LLC), having its principal place of business at 130 Louisa Viens Drive, Dayville, Connecticut 06241 (“Customer”), and Foster Corporation, having its principal place of business at 45 Ridge Road, Putnam,
Connecticut 06260 (“Supplier”). 
  
 Recitals:

  
 A. Customer manufacturers biomedical materials and plastics compounds.

  
 B. Customer desires to obtain, and Supplier desires to manufacture for and
make available to Customer, plastic compounds (the “Products”). 
  
 NOW, THEREFORE, in consideration of the foregoing recitals and the mutual covenants contained herein, the parties agree as follows: 
  
 Article I. 
 Manufacture, Purchase and Supply of Products; Terms; Acceptance 
  
 1.1 Supply Agreement. Supplier shall supply the Products on the terms and conditions set forth in this Agreement. During the term of this Agreement, Customer shall be permitted, but not required, to purchase
the Products from Supplier. 
  
 1.2 Purchase Orders.
Customer submit issue purchase orders to Supplier for the Products as desired. Each order placed by Customer for Products during the term of this Agreement (“Purchase Order”) shall be subject to the terms and conditions set forth in this
Agreement, including Supplier’s Standard Terms and Conditions set forth on Exhibit A hereto, and shall constitute a binding agreement by Supplier to sell said Products to Customer on the terms set forth herein. In the event of
modifications by Customer to a Purchase Order after its original submission to Supplier, Supplier shall use reasonable efforts to satisfy Customer’s revised volume and/or timing requirements. If there is any conflict between the terms of this
Agreement and Supplier’s Standard Terms and Conditions, the terms of this Agreement shall control. 
  
 1.3 Price. The price to be paid by Customer for the Products purchased hereunder shall be “most favored nation” pricing for customers of
the Supplier purchasing quantities of Products similar to those being purchased by Customer, meaning that Customer shall be entitled to the lowest price for each Product that the Product is then made available by Supplier to such other parties that
purchase such Product in quantities similar to those being purchased by Customer. The most favored nation price for each of Supplier’s products on the date hereof is set forth on Exhibit B hereto. Supplier may amend and supplement said
Exhibit B by sending a copy of a revised Exhibit B to Customer from time to time as the most favored nation price for any or more Products is changed; provided, however, that no price increases shall be effective for
orders placed prior to, or within (7) days of, Customer’s receipt of said revised Schedule B. 
  
 1.4 Payment Terms. Supplier shall submit invoices upon shipment of the Products, and Customer shall pay such invoices in full within 45 days after
the later of: (a) acceptance of the Products, or (b) receipt of the related invoices, unless Customer disputes the invoice. 
  

 1.5 Shipping. Supplier shall ship all Products according to Customer’s shipping instructions,
FOB Supplier’s Dayville, Connecticut location, with title to the Products and risk of loss and damage passing to Customer upon delivery of the Products. Supplier shall pack all Products suitably for shipment according to the common
carrier’s requirements and in such manner as to secure lowest transportation cost and to protect against damage during transport. Supplier shall manufacture, store and transport all Products consistently with the applicable requirements to
ensure the quality of the Products, including, without limitation, all requirements relating to storage, handling, temperature, humidity controls, etc. Supplier shall provide a customary material certificate to Customer with each shipment of
Products. 
  
 1.6 Acceptance. Prior to acceptance upon
receipt, Customer may inspect Products at its facility. Products will be deemed accepted by Customer unless Customer notifies Supplier in writing that such Products have been rejected within ten (10) business days of its delivery to Customer.
Customer may return non-conforming Products to Supplier for credit, refund of purchase price or replacement at Customer’s option. Supplier shall bear all costs (including shipping) and risk of loss for such returned Products provided that
Supplier has given Customer written authorization to return such Products, which authorization shall not be unreasonably withheld. Products shall be deemed non-conforming if Customer (i) determines in its reasonable judgment, after inspection, that
they fail to materially comply with the relevant product specifications and (ii) timely furnishes Supplier with a written report specifying such non-conformity. All Products returned to Supplier for replacement shall be replaced by Supplier and
shipped to Customer at Supplier’s expense within ten (10) business days of Supplier’s receipt of notice from Customer concerning the non-conforming Products. 
  
 Article II. 
 Representations and Warranties; Additional Covenants; Limitation of Warranty; Limitation of Liabilities 
  
 2.1 Of Supplier. Supplier represents and warrants that the Products that are delivered to Customer hereunder shall: 
  
 (a) conform in all respects with the requirements of this
Agreement, including the then current specifications for such Product, and the applicable Purchase Order; 
  
 (b) not infringe the patent claims or trade secrets of any person and Supplier shall indemnify and defend Customer and its affiliates
against all such infringement claims, demands, actions, losses, damages, fines, penalties, costs and expenses (including attorneys’ fees); and 
  
 (c) be free and clear of all liens and encumbrances, or other defects in title. 
  
 The foregoing representations and warranties shall survive inspection,
delivery and payment for the Products, and shall be for the benefit of Customer and its customers. 
  
 2.2 Other Representations and Warranties. Each of the parties hereby represents and warrants to the other that: (a) it has full power and authority
required to enter into, execute and deliver this Agreement, to carry out its obligations hereunder and to perform the transactions contemplated; (b) this Agreement has been duly executed and delivered by, is the valid and binding obligation of, and
is enforceable against, such party in accordance with its terms; and (c) the execution, delivery and performance of this Agreement by such party does not conflict with or violate any other agreement to which it is a party or by which it is bound, or
any applicable law to which it is bound or subject. 
  

 2 

 2.3 Use of Name. Neither party shall, without the prior written consent of the other party, use in
advertising, publicity, or otherwise, the name, trademark, logo, symbol, or other image of the other party including without limitation, any of such relating to Customer or any affiliate of Customer. 
  
 2.4 Warranty and Liability Limitation. OTHER THAN THE EXPRESS
WARRANTIES MADE IN ARTICLE II AND ELSEWHERE IN THIS AGREEMENT SUPPLIER MAKES NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, BY OPERATION OF LAW OR OTHERWISE, AS TO THE MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OF THE GOODS SOLD
HEREUNDER. CUSTOMER ACKNOWLEDGES THAT IT ALONE HAS DETERMINED THAT THE GOODS PURCHASED HEREUNDER WILL SUITABLY MEET THE REQUIREMENT OF THEIR INTENDED USE. 
  
 Article III. 
 Indemnification

  
 3.1 Indemnification by Supplier. Supplier shall
indemnify, defend and hold harmless, Customer and its affiliated entities (including subsidiaries), and Customer’s and such entities’ respective officers, directors, agents, insurers, employees, stockholders, and customers, from and
against all claims, suits, liability and expense (including but not limited to reasonable attorneys’ fees) (each a “Liability”), whether or not such Liability is stated as a product liability claim, a strict liability claim or other
similar claim, that is caused by or based upon any: (a) breach by Supplier of any of the representations or warranties in Article II, including, without limitation, any Liability based upon any alleged defect in Products resulting from
Supplier’s failure to meet the specifications or QA standards for such Product; (b) material breach by Supplier of any other provision of this Agreement; or (c) the negligence, misconduct, or violation of any applicable law, rule or regulation
by Supplier or any of its affiliates in the performance of Supplier’s obligations under this Agreement; provided, however, that Customer shall: (i) give Supplier prompt notice of any such Liabilities; (ii) give Supplier all
information in its possession relating to such Liabilities; (iii) permit Supplier to defend the same through its counsel; and (iv) give its authorization for and (at Supplier’s cost) assistance in such defense. 
  
 3.2 Indemnification by Customer. Customer shall indemnify, defend and
hold harmless Supplier and its affiliated entities (including subsidiaries), and Supplier’s and such entities’ respective officers, directors, agents, insurers, employees, and shareholders (“Supplier Indemnities”) from and
against all Liabilities relating to any product manufactured or sold by Customer that incorporates Products to the extent such Liabilities are based upon allegations of personal injuries, death, or property damages or loss proximately caused by the
use of a product manufactured or sold by Customer, whether such Liability is stated as a product liability claim, a strict liability claim or other similar claim; provided, however, that: 
  
 A. Supplier shall: (i) give Customer prompt notice of any
such Liabilities; (ii) give Customer the right to assume full and sole control of the defense or settlement of the same through Customer’s counsel; (iii) give Customer all information in its possession relating to such Liabilities; (iv) give
its authorization for and assistance (at Customer’s cost) in such defense; and (v) give Customer the right to approve any settlement, which approval shall not be unreasonably withheld; 
  
 B. Customer shall not, however, indemnify, defend or hold
harmless the Supplier Indemnities for any matter which would give rise to a claim by Customer for indemnity from Supplier under Section 3.1; and 
  
 C. Customer shall have sole and unqualified discretion to select attorneys to defend any Liability which is the subject of Customer’s
obligations hereunder, and notwithstanding anything 

  

 3 

 
contained herein to the contrary, Customer’s Liability for attorney fees will only apply to Customer-selected attorneys. 
  
 Article IV. 
 Term and Termination 
  
 4.1 Term. The term (the “Term”) of this Agreement shall commence on the date hereof and end as of November 8, 2009. 
  
 Article V. 
 Miscellaneous 
  
 5.1 Independent
Contractors. The parties hereto are independent contractors and nothing contained in this Agreement shall be deemed to create the relationship of employment, partnership, joint venture or any association or relationship between the parties other
than that of supplier and buyer. 
  
 5.2 Entire Agreement;
Amendments. The terms of this Agreement shall constitute the entire agreement between the parties as to each and all manufacturing and sales of Products. No additional or different terms set forth in correspondence concerning such manufacturing
and sales, including Purchase Orders, shall be of any force or effect. All exhibits attached to this Agreement, and the Specifications and other documentation referenced herein, are hereby incorporated by reference in this Agreement and made a part
hereof. This Agreement may be amended only by a writing signed by both parties. This Agreement is intended to be for the benefit of Customer and its subsidiaries and affiliates. 
  
 5.3 Governing Law; Severability. This Agreement shall be governed by and construed in accordance with the internal
laws of the State of Connecticut (without reference to principles of conflicts of laws). If any provision of this Agreement is determined to be unenforceable or prohibited by applicable law, such provision shall be ineffective only to the extent of
such unenforceability or prohibition, without invalidating the remaining provision of this Agreement, as long as the general intent of the Agreement remains capable of being effected. 
  
 5.4 Assignment; Subcontracting. Neither party shall assign this Agreement, whether voluntarily or involuntarily,
without the prior written consent of the other, except that Customer may assign this Agreement to one of its subsidiaries or affiliates or to the purchaser of all or substantially all of its assets. This Agreement shall be binding on the permitted
successors and assigns, and shall inure to the benefit of the permitted successor and assigns of the party hereto. 
  
 5.5 Notices. All notices, consents or approvals required or permitted hereby shall be deemed given only upon: 
  
 (a) transmission by telecopier, acknowledged by the
recipient at the fax number indicated below; 
  
 (b) enclosure thereof in an adequately post-paid envelope, sent certified mail-return receipt; or 
  
 (c) sent via a nationally-recognized express delivery service that guarantees express delivery; and addressed to the party to be given
notification a the address/facsimile number given below or such change of address/facsimile number as may be hereafter supplied in writing. 
  

 4 

			
	 If to Customer:
  
 MPAV Acquisition LLC (to be renamed
 Putnam Plastics Company LLC)

c/o Memry Corporation
 3 Berkshire Boulevard
 Bethel, CT 06801 – USA
 Fax: (203) 798-6526
	  	 If to Supplier:
  
 Foster Corporation
 45 Ridge Road
 Putnam, CT 06260 - USA
 Attn: Vice President – Operations
 Attn: Lawrence A. Acquarulo, Jr., President
 Fax: (860)
928-4226

		
	 With a copy to:
  
 Memry Corporation
 3 Berkshire Boulevard
 Bethel, CT 06801 – USA
 Attn: Vice President and Chief
 Operating Officer
 Fax: (203) 798-6526
	  	 

  
 5.6 Survival.
In any event, all obligations which are by their nature continuing shall survive the expiration and/or termination of this Agreement. 
  
 5.7 Compliance with Law. During the term of this Agreement, each of the parties agree to comply with all applicable laws, rules and regulations
relating to the performance of the services contemplated by this Agreement and the performance of each party’s obligations hereunder. 
  

 5 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the first date set forth above.

  

									
	MPAV ACQUISITION LLC (to be renamed Putnam Plastics Company LLC)	 	 	 	 FOSTER CORPORATION

					
	 By:
	 	 /s/ James G. Binch
	 	 	 	 By:
	 	 /s/ Lawrence Acquarulo Jr.

			
	 Print Name: James G. Binch
	 	 	 	 Print Name: Lawrence Acquarulo Jr.

					
	 Title:
	 	 President
	 	 	 	 Title:
	 	 CEO/President

					
	 Date:
	 	 November 9, 2004
	 	 	 	 Date:
	 	 November 5, 2004

  

 6 

 EXHIBIT A 
  

SUPPLIER’S STANDARD TERMS AND CONDITIONS 
  

 

 
  
 TERMS AND CONDITIONS OF SALE

  
 Terms of Payment: Our terms are NET 30 DAYS
unless otherwise specified on the invoice and agreed to in writing and signed. Accounts not paid for, in accordance with specific terms, may be charged interest at the rate of 1  1/2% per month, beginning 15 days past the due date. 
  
 Delivery: All stated delivery dates are estimated only and are made in good faith, but are not guaranteed. We are not responsible for delays in obtaining
raw materials, emergencies, or any other cause beyond our immediate control. 
  
 Shipments: All shipments are F.O.B. Dayville, CT, including cost of Insurance, unless otherwise specifically agreed upon (in writing) in advance of shipment. Freight is to be Collect or PPD & ADD. 
  
 Taxes: The amount or amounts of sale, excise, use taxes, and other taxes or
other governmental charges upon production, sale, and/or shipments of the goods sold hereunder, now imposed by any government authority or hereafter becoming effective, shall be paid by the purchaser, to the proper authority. 
  
 Purchase Orders: Any terms or conditions of any customer’s order (or other
document), which are in addition to or inconsistent with our company’s terms and conditions, hereof, shall not be binding on our company and shall not apply to sale. 
  
 Changes in Order: Changes, arrangements, or understanding not in writing shall not be binding on our company and shall not
apply to sale. 
  
 Conditional Pricing: Your order will be accepted
and billed at the price quoted. Unit prices apply only to the specific quantity and delivery schedule quoted. Any variations in quantity specified and or rate or delivery may necessitate a revision in unit and price. 
  
 Errors in Price: Prices quoted shall be subject to correction for errors.
Quotations not accepted within 30 days shall not apply to sale. 
  

 Page 1 of 2 
  
 FOSTER CORPORATION 
 www.fostercomp.com • foster.corp@fostercomp.com 
 329 Lake Road • P.O. Box 997 • Dayville, Connecticut 06241 •
(860) 774-3964 • FAX (860) 779-0805 
 Polymers & Specialty Compounds: custom thermoplastics, elastomers and blends

 

 
  
 TERMS AND CONDITIONS OF SALE
(continued) 
  
 Cancellation: An order may not be cancelled
once material has been produced, unless the request to cancel is made more than 21 working days prior to the promise. No order may be cancelled, whether material has been produced or not, if the request to cancel is made less than 21 working days
prior to the promise date. Customer may be responsible for purchasing raw material that cannot be returned. 
  
 Claims: All Claims for rejection must be made in writing within 30 days from date of receipt of material; otherwise, the claim will not be allowed. All claims must specify our applicable invoice number,
date, and Foster Lot number. No goods may be returned without our written permission and authorization number. No product coming back is to be express shipped. Product must be returned by standard shipping. (Under absolutely no circumstances,
shall we be libel for consequential damages). Absolutely no returns will be accepted back at Foster without a Return Authorization Number. 
  
 Notification: Routing may be selected by customer and billed ppd. & add or collect. Due to weight or size limitations, the routing may be changed. The
customer will be notified, before shipment, of any changes in routing. 
  
 Payments: If, in the judgement of the company, the financial condition of the purchaser at any time does not justify continuance of production of shipment on the terms of payment specified, the company may require full or
partial payment in advance. All shipments outside of the territorial limits of the United States of America, must have payment in U.S. funds in an U.S. bank. 
  
 Customer Property: Customer’s property retained in our plant is for the customer’s account and at the customer’s risk. 
  
 Equal Opportunity: We are an Equal Opportunity Employer. 
  

 Page 2 of 2 
  
 FOSTER CORPORATION 
 www.fostercomp.com • foster.corp@fostercomp.com 
 329 Lake Road • P.O. Box 997 • Dayville, Connecticut 06241 •
(860) 774-3964 • FAX (860) 779-0805 
 Polymers & Specialty Compounds: custom thermoplastics, elastomers and blends

 EXHIBIT B 
  

CURRENT PRICE LIST 
  

 PUTNAM PLASTICS STANDARD PRICE LIST (REVISION 10) 
 Effective August 15, 2004 
  
 Putnam Plastics Pricing 
  
 Natural Compounds: If the order is for 50 lbs.–use the 500 lb. price; if the order is for 200 lbs., 500 lbs., or 1000 lbs.–use the 1000 lb. price.

  
 Colored Compounds: If the order is for 50 lbs.–use the 200
lb. price; if the order is for 200 lbs. –use the 500 lb. price, if the order is for 500 or 1000 lbs.–use the 1000 lb. price. 
  
 Color Matching 
  
 $400.00 per color match if formula includes Bismuth or Tungsten. 
 $300.00 per
color match for most other formulations. 
  
 Underwater
Pelletized Material 
  
 500 lb. minimum - no charge 
 Less than 500 lbs. - $600.00 set-up charge per order (Minimum order 200 lbs.) 
  
 Virgin Pebax 
  

							
	 GRADE

	  	<528 lbs

	  	528 to
1834 lbs

	  	1980 to
9900 lbs

	 7033
	  	13.60	  	9.40	  	9.05
	 7233
	  	13.60	  	9.40	  	9.05
	 6333
	  	13.39	  	9.20	  	8.85
	 5533
	  	13.06	  	8.86	  	8.54
	 4033
	  	12.71	  	8.62	  	8.22
	 9533
	  	12.59	  	8.45	  	8.11
	 2533
	  	12.59	  	8.45	  	8.11

  
 Melt-filtered
Pebax and unfilled Pebax (all grades) 
  

											
	 	  	50 lbs

	  	200 lbs

	  	500 lbs

	  	1000 lbs

	  	2000 lbs

	 	  	18.33	  	16.87	  	16.29	  	16.18	  	15.84
	 Custom color (add to price)
	  	1.75	  	1.25	  	1.00	  	0.75	  	0.50

  

 PAGE 1 OF 4 

 Pebax (all grades) with Barium Sulfate 
  

											
	 BaSo4 %

	  	50 lbs

	  	200 lbs

	  	500 lbs

	  	1000 lbs

	  	2000 lbs

	 50% or less
	  	18.24	  	16.76	  	16.18	  	16.08	  	15.70
	 51% or more
	  	19.25	  	17.79	  	17.20	  	17.10	  	16.72
	 Custom Color (add to price)
	  	1.75	  	1.25	  	1.00	  	0.75	  	0.50

  
 Pebax (all
grades) with Bismuth Subcarbonate/Bismuth Trioxide 
  

											
	 Bissub %

	  	50 lbs

	  	200 lbs

	  	500 lbs

	  	1000 lbs

	  	2000 lbs

	 10%
	  	23.44	  	22.90	  	21.84	  	20.76	  	20.40
	 15%
	  	26.09	  	25.48	  	24.29	  	23.13	  	22.76
	 17.50%
	  	27.42	  	26.76	  	24.92	  	23.76	  	23.60
	 20%
	  	28.76	  	28.05	  	26.72	  	25.49	  	25.13
	 23%
	  	30.07	  	29.09	  	27.96	  	26.60	  	26.23
	 25%
	  	31.38	  	30.08	  	29.17	  	27.70	  	27.33
	 30%
	  	34.01	  	32.12	  	31.62	  	28.88	  	29.54
	 33%
	  	35.33	  	33.67	  	32.84	  	31.08	  	30.72
	 35%
	  	36.65	  	35.23	  	34.05	  	32.26	  	31.91
	 40%
	  	39.29	  	38.35	  	36.50	  	34.63	  	34.26
	 50%
	  	42.82	  	41.88	  	38.84	  	38.17	  	37.80
	 55%
	  	44.59	  	43.66	  	41.81	  	39.94	  	39.56
	 60%
	  	46.36	  	45.42	  	43.59	  	41.71	  	41.35
	 65%
	  	48.13	  	47.20	  	45.36	  	43.47	  	43.11
	 70%
	  	49.91	  	46.07	  	45.50	  	44.92	  	44.55
	 75%
	  	51.68	  	47.85	  	47.27	  	46.69	  	46.33
	 78%
	  	52.74	  	48.91	  	48.33	  	47.75	  	47.39
	 80%
	  	53.46	  	49.61	  	49.04	  	48.46	  	48.09
	 Custom color (add to price)
	  	1.75	  	1.25	  	1.00	  	0.75	  	0.50

  
 EVA with Bismuth
Subcarbonate 
  

									
	 Bissub %

	  	50 lbs

	  	200 lbs

	  	500 lbs

	  	1000 lbs

	 30%
	  	27.30	  	25.47	  	24.99	  	23.34
	 Custom Color (add to price)
	  	1.75	  	1.25	  	1.00	  	0.75

  
 Custom Colored
Pollethane (price Includes color upcharge) 
  

									
	 50 lbs

	  	200 lbs

	  	500 lbs

	  	1000 lbs

	  	2000 lbs

	 19.72
	  	17.67	  	16.81	  	16.41	  	15.79

  

 PAGE 2 OF 4 

 Pebax with Bismuth Oxychloride 
  

											
	 Bisoxy %

	  	50 lbs

	  	200 lbs

	  	500 lbs

	  	1000 lbs

	  	2000 lbs

	 7%
	  	21.20	  	20.60	  	20.00	  	19.53	  	19.17
	 10%
	  	23.54	  	22.94	  	22.34	  	21.86	  	21.51
	 13.50%
	  	25.87	  	25.26	  	24.74	  	24.21	  	23.85
	 15%
	  	28.21	  	27.55	  	26.95	  	26.54	  	26.19
	 16%
	  	29.38	  	28.72	  	26.14	  	27.72	  	27.35
	 20%
	  	32.89	  	32.17	  	31.56	  	31.23	  	30.86
	 25%
	  	37.60	  	36.78	  	36.21	  	35.98	  	35.64
	 30%
	  	42.29	  	41.38	  	40.87	  	40.75	  	40.38
	 35%
	  	46.05	  	43.62	  	43.06	  	42.70	  	42.35
	 40%
	  	49.80	  	45.85	  	45.27	  	44.67	  	44.30
	 50%
	  	53.92	  	49.97	  	49.36	  	48.77	  	48.42
	 55%
	  	55.65	  	51.58	  	51.12	  	50.52	  	50.17
	 60%
	  	57.40	  	53.18	  	52.87	  	52.28	  	51.91
	 65%
	  	59.76	  	55.81	  	55.22	  	54.62	  	54.26
	 Custom Color
 (add to price)
	  	1.75	  	1.25	  	1.00	  	0.75	  	0.50

  
 Polyurethane
(Pellethane, Texin, Estane Isoplast) with Barium Sulfate 
  

									
	 BaSo4%

	  	50 lbs

	  	200 lbs

	  	500 lbs

	  	1000 lbs

	 50% or less
	  	17.55	  	16.50	  	16.03	  	15.46
	 51% or more
	  	18.70	  	17.65	  	17.19	  	16.61
	 Custom color
 (add to price)
	  	1.75	  	1.25	  	1.00	  	0.75

  
 PVC with Bismuth
Subcarbonate 
  

											
	 Bissub %

	  	50 lbs

	  	200 lbs

	  	500 lbs

	  	1000 lbs

	  	1500 lbs

	 10%
	  	16.57	  	16.14	  	15.41	  	14.71	  	14.02
	 20%
	  	19.27	  	18.54	  	17.79	  	17.12	  	16.41
	 25%
	  	23.18	  	22.40	  	21.74	  	21.02	  	20.33
	 30%
	  	27.09	  	26.24	  	25.64	  	24.94	  	24.24
	 Custom color
 (add to price)
	  	1.75	  	1.25	  	1.00	  	0.75	  	0.50

  
 PVC with Barium
Sulfate 
  

											
	 BaSo4%

	  	50 lbs

	  	200 lbs

	  	500 lbs

	  	1000 lbs

	  	1500 lbs

	 10%
	  	13.86	  	13.15	  	12.44	  	12.21	  	11.87
	 15%
	  	14.31	  	13.61	  	12.92	  	12.68	  	12.33
	 20%
	  	14.76	  	14.07	  	13.38	  	13.15	  	12.79
	 25%
	  	15.23	  	14.53	  	13.84	  	13.61	  	13.25
	 30%
	  	15.69	  	14.99	  	14.30	  	13.64	  	13.48
	 33%
	  	15.92	  	15.23	  	14.53	  	14.07	  	13.71
	 35%
	  	16.15	  	15.46	  	14.76	  	14.30	  	13.94
	 40%
	  	16.61	  	15.92	  	15.23	  	14.76	  	14.41
	 Custom color (add to price)
	  	1.75	  	1.25	  	1.00	  	0.75	  	0.50

  
  
  

 PAGE 3 OF 4 

 Polyethylene & Petrothene with Bismuth Subcarbonate/Bismuth Trioxide 
  

											
	 Blssub%

	  	50 lbs

	  	200 lbs

	  	500 lbs

	  	1000 lbs

	  	2000 lbs

	 10%
	  	14.75	  	12.64	  	12.04	  	11.74	  	11.43
	 15%
	  	17.02	  	15.24	  	14.78	  	14.49	  	14.18
	 18%
	  	18.13	  	16.53	  	16.16	  	15.87	  	15.56
	 20%
	  	19.26	  	17.82	  	17.51	  	17.21	  	16.92
	 25%
	  	22.27	  	20.96	  	20.65	  	20.35	  	20.06
	 30%
	  	25.28	  	24.08	  	23.78	  	23.47	  	23.17
	 40%
	  	27.70	  	26.48	  	26.19	  	25.88	  	25.59
	 50%
	  	30.10	  	28.90	  	28.60	  	28.29	  	27.99
	 Custom color (add to price)
	  	1.75	  	1.25	  	1.00	  	0.75	  	0.50

  
 Polyethylene
& Petrothene with Barium Sulfate 
  

											
	 BaSo4%

	  	50 lbs

	  	200 lbs

	  	500 lbs

	  	1000 lbs

	  	2000 lbs

	 5%
	  	9.11	  	8.75	  	8.23	  	7.59	  	7.36
	 10%
	  	9.21	  	8.84	  	8.32	  	7.68	  	7.44
	 12%
	  	9.28	  	8.89	  	8.39	  	7.76	  	7.53
	 15%
	  	9.39	  	9.00	  	8.49	  	7.85	  	7.62
	 17.50%
	  	9.46	  	9.07	  	8.57	  	7.93	  	7.70
	 20%
	  	9.54	  	9.19	  	8.65	  	8.02	  	7.79
	 25%
	  	9.85	  	9.45	  	8.94	  	8.30	  	8.06
	 30%
	  	10.08	  	9.70	  	9.19	  	8.55	  	8.32
	 40%
	  	10.77	  	10.40	  	9.88	  	9.24	  	9.01
	 50%
	  	11.63	  	11.27	  	10.74	  	10.11	  	9.88
	 75%
	  	13.08	  	12.72	  	12.19	  	11.55	  	11.32
	 Custom color (add to price)
	  	1.75	  	1.25	  	1.00	  	0.75	  	0.50

  
 Tungsten/Pebax -
25 lb minimum 
  

			
	 Tungsten Level Wt. % Filled

	  	Price

	 10%
	  	34.79
	 20%
	  	40.75
	 30%
	  	43.42
	 40%
	  	46.36
	 50%
	  	48.10
	 55%
	  	48.54
	 60%
	  	48.97
	 66%
	  	49.37
	 67%
	  	49.57
	 70%
	  	49.78
	 72%
	  	50.77
	 73%
	  	51.32
	 74%
	  	52.09
	 75%
	  	50.17
	 76%
	  	53.26
	 80%
	  	55.57
	 85%
	  	58.46
	 88%
	  	61.35
	 90%
	  	63.96
	 92%
	  	67.16
	 95%
	  	70.46
	 Custom color (add to price)
	  	1.75

  

 PAGE 4 OF 4Employment Agreement, dated as of November 9, 2004

  
 EXHIBIT 10.2

  
 EMPLOYMENT AGREEMENT 
  
 This Employment Agreement, dated as of the 9th day of November, 2004, between James Dandeneau (the “Executive”) and Putnam Plastics Company LLC, a Connecticut
limited liability company (the “Company”). 
  
 W I T N
E S S E T H, 
  
 WHEREAS, the Company and the Executive are
parties to an Asset Purchase Agreement, dated as of even date herewith (the “Purchase Agreement”), pursuant to which the Company will acquire the assets of the Putnam Plastics Corporation (“PPC”) which is owned by the Executive.

  
 WHEREAS, the Company desires to employ the Executive and to
make secure for itself the experience, abilities and services of the Executive and to prevent the loss of such experience, services and abilities. 
  
 WHEREAS, the Executive, who was the President and Chief Executive Officer of PPC, is entering into this Employment Agreement concurrently with the
execution and delivery of the Purchase Agreement. 
  
 WHEREAS, the
Executive’s execution and delivery of this Agreement is a condition precedent to (a) the Company’s willingness to execute and deliver the Purchase Agreement and consummate the transactions contemplated thereby and (b) the willingness of
Memry Corporation, a Delaware corporation and the parent of the Company (the “Parent”), to issue options to the Executive to acquire shares of its common stock to the Executive pursuant to the Parent’s Amended and Restated 1997
Long-Term Incentive Plan (the “Equity Plan”). 
  
 WHEREAS, the Company and the Executive desire to enter into an employment agreement on the terms and conditions set forth below (this “Agreement”). 
  
 NOW, THEREFORE, in consideration of the premises and of the covenants and agreements set forth herein, the parties agree as
follows: 
  
 1. Employment and Duties. 
  
 (a) The Company hereby agrees to employ the Executive, and the Executive
hereby accepts employment, upon the terms and conditions set forth herein. During the period during which he is employed hereunder (the “Period of Employment”), the Executive shall diligently and faithfully serve the Company in the
capacity of President of the Company or in such other and/or lesser executive capacity or capacities as the Manager of the Company (the “Manager”) and the Executive may, from time to time, agree. The Parent shall cause the Executive to be
elected to the Board of Directors of the Parent prior to December 31, 2004. 
  

 (b) During the term hereof, the Executive shall, at the request of the Company, serve as an officer
and/or director of direct and indirect subsidiaries, and other affiliates, of the Company as the Company, acting through its Manager, shall request from time to time. 
  
 (c) The Executive shall devote his best efforts and substantially all of his business time, services and attention to the
advancement of the Company’s business and interests. The restrictions in this Section 1 shall in no way prevent the Executive from (except as set forth in the immediately succeeding sentence) pursuing other activities (including the
Executive’s current officer and director positions with respect to Foster Corporation), so long as all of such other activities do not, in the aggregate, materially interfere with the Executive’s duties hereunder (including his obligation
to devote substantially all of his business time, services and attention to the Company). Notwithstanding the foregoing, however, the Executive shall not accept any outside directorships (other than his current position as a director of Foster
Corporation) without the prior consent of the Manager. 
  
 (d) The
Executive shall, at all times during the Period of Employment, diligently and faithfully carry out the policies, programs and directions of the Manager. The Executive shall comply with the directions and instructions made or given by or under the
authority of the Manager and whenever requested to do so shall give an account of all transactions, matters and things related to the Company and its affiliates and their affairs with which the Executive is entrusted. 
  
 2. Term. The initial term of this Agreement shall commence on the date hereof, and
shall terminate on the day before the third anniversary of such date (the “Term”). 
  
 3. Compensation. In consideration of the services rendered and to be rendered by the Executive, the Company agrees to compensate the Executive as follows: 
  
 (a) From the date hereof the Company shall pay to the Executive an annual
base salary of $200,000, payable in equal installments every two weeks. The Executive’s base salary may be increased from time to time by the Manager in accordance with normal business practices of the Company. 
  
 (b) The Executive shall also be entitled to receive additional compensation
in the form of an annual target bonus in an amount equal to 45% of the Executive’s annual base salary and/or stock option grants pursuant to the Parent’s Equity Plan determined by and in the sole discretion of the Manager (subject to the
approval of the Parent’s Compensation Committee with respect to any stock option grants). Such target amount is based upon the Executive meeting all personal and Company performance goals and objectives. Such grants may be made pursuant to any
bonus and/or incentive compensation programs that may be established by the Company, including without limitation the Company’s current incentive plans; provided, however, that nothing set forth in this sentence will in any way limit the
Manager’s discretion to approve or reject any bonus that the Executive would otherwise be due under any such plans. The Executive acknowledges that, under the Company’s current plan, it is highly unlikely that any executive will receive
their full target bonus. With respect to the Executive’s initial annual bonus award, the Executive shall be granted an option under the Equity Plan to acquire 40,000 shares of the 

  

 2 

 
Parent’s common stock, which option shall vest in four equal annual installments beginning on the first anniversary of the date hereof.1 
  
 (c) The Executive shall be entitled to other fringe benefits comparable to the benefits afforded to other executive employees of the Company, including
but not limited to reasonable sick leave and coverage under any health, dental, accident, hospitalization, disability, retirement, life insurance, 401(k), and annuity plans, programs or policies maintained by the Company. In addition, and without
limiting the foregoing, the Company shall provide the Executive with twenty working days of vacation per year. 
  
 (d) The Executive shall be entitled to reimbursement, in accordance with Company policy, of all reasonable out-of-pocket expenses which he incurs on
behalf of the Company in the course of performing his duties hereunder, subject to furnishing appropriate documentation of such expenses to the Company’s Chief Financial Officer. 
  
 (e) The Executive shall be entitled to an automobile allowance of $500 per month, to be paid in accordance with the
Company’s policy for paying automobile allowances as in effect from time to time. 
  
 4. Nonsolicitation. 
  
 (a) During the Period of
Employment and for the 18-month period after the Period of Employment (the “Restriction Period”), the Executive will not, directly or indirectly, either for himself or for any other person or entity (i) solicit (A) any employee of the
Company or any affiliate of the Company to terminate his or her employment with the Company or such affiliate during his or her employment with the Company or such affiliate or (B) any former employee of the Company or an affiliate of the Company
for a period of one year after such individual terminates his or his employment with the Company or such affiliate, (ii) solicit any customer or client of the Company or any such affiliate (or any prospective customer or client of the Company or
such affiliate) as of the termination of the Period of Employment to terminate its relationship with the Company or such affiliate, or do business with any third parties, or (iii) take any action that is reasonably likely to cause injury to the
relationships between the Company or any such affiliate or any of their respective employees and any lessor, lessee, vendor, supplier, customer, distributor, employee, consultant or other business associate of the Company or any such affiliate as
such relationship relates to the Company’s or such affiliate’s conduct of its business. In the event of Executive’s breach of this subsection (b), the Restriction Period shall be extended by the amount of time during which the
Executive is in breach. 
  
 (b) If the final judgment of a court
of competent jurisdiction declares that any term or provision of this Section 4 is invalid or unenforceable, the parties agree that the court making the determination of invalidity or unenforceability shall have the power to reduce the scope,
duration, or area of the term or provision, to delete specific words or phrases, or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention
of the invalid or unenforceable term or 

	1	Note: Memry’s Compensation Committee will need to approve this grant. 

  

 3 

 provision, and this Agreement shall be enforceable as so modified after the expiration of the time within which the
judgment may be appealed. 
  
 5. Covenant Not to Disclose Information. The
Executive agrees that during the Period of Employment and thereafter, he will not use or disclose, other than to another employee of the Company, qualified by the Company to receive that information in the normal course of business, any confidential
information or trade secrets of the Company or any affiliate of the Company which were made known to him by the Company, its officers or employees or affiliates, or learned by him while in the Company’s employ, without the prior written consent
of the Company, and that upon termination of his employment for any reason, he will promptly return to the Company any and all properties, records, figures, calculations, letters, papers, drawings, schematics or copies thereof or other confidential
information of the Company and its affiliates of any type or description and he will promptly delete any copies of any such information from his personal computer, BlackBerry or other electronic device. It is understood that the term “trade
secrets” as used in this Agreement is deemed to include, without limitation, lists of the Company’s and its affiliates’ respective customers, information relating to their practices, know-how, processes and inventions, and any other
information of whatever nature which gives the Company or any affiliate an opportunity to obtain an advantage over its competitors who do not have access to such information. In the event that the Executive becomes legally compelled to disclose all
or any portion of any confidential information or trade secrets of the Company or any affiliate of the Company, the Executive will provide the Company with prompt notice thereof, so that the Company may seek a protective order or other appropriate
remedy. In the event that such protective order or other remedy is not obtained, the Executive will furnish only that portion of the confidential information or trade secret which is legally required and the Executive will exercise the
Executive’s best efforts to obtain reliable assurance that confidential treatment will be afforded such portion of the confidential information and/or trade secret. 
  
 6. Inventions and Improvements. With respect to any and all inventions (as defined in Section 6(e) below) made or conceived by the
Executive, whether or not during his hours of employment, either solely or jointly with others, during the Period of Employment, without additional consideration: 
  
 (a) The Executive shall promptly inform the Company of any such invention. 
  
 (b) Any such invention, whether patentable or not, shall be the property of
the Company, and the Executive hereby assigns and agrees to assign to the Company all his rights to any such invention, and to any United States and/or foreign letters patent granted upon any such invention or any application therefor. 

 
 (c) The Executive shall apply, at the Company’s request and expense,
for United States and/or foreign letters patent either in the Executive’s name or otherwise as the Company may desire. 
  
 (d) The Executive shall acknowledge and deliver promptly to the Company, without charge to the Company but at its expense, all sketches, drawings, models
and figures and other information and shall perform such other acts, such as giving testimony in support of his 

  

 4 

 
inventorship, as may be necessary in the opinion of the Company to obtain and maintain United States and/or foreign letters patent and to vest the entire
right and title thereto in the Company. 
  
 (e) For purposes of
this Section, the term “invention” shall be deemed to mean any discovery, concept or idea (whether patentable or not), including but not limited to processes, methods, formulas, techniques, hardware developments and software developments,
as well as improvements thereof or know-how related thereto, (i) concerning any present or prospective activities of the Company and its affiliates and (ii) (A) which the Executive becomes acquainted with as a result of his employment by the
Company, (B) which results from any work he may do for, or at the request of, the Company or any of its affiliates, (C) which relate to the Company’s or any affiliates’ business or actual or demonstrably anticipated research and
development, or (D) which are developed in any part by use of the Company’s or any such affiliates’ equipment, supplies, facilities or trade secrets. 
  

(f) If the Company is unable, after reasonable effort, to secure the signature of the Executive with respect to any document needed by the Company to
enforce its rights under this Section 6, any executive officer of the Company shall be entitled to execute any such papers as the agent and the attorney-in-fact of the Executive, and the Executive hereby irrevocably designates and appoints each
executive officer of the Company as his agent and attorney-in-fact to execute any such papers on his or her behalf, and to take any and all actions as each the Company may deem necessary or desirable in order to protect its rights and interests in
any invention, under the conditions described in this sentence. 
  
 The parties hereto agree that the covenants and agreements contained in this Section 6 are, taken as a whole, reasonable in their scope and duration, and no party shall raise any issue of the reasonableness of the scope or duration of any
such covenants in any proceeding to enforce any such covenants. 
  
 7. Remedy
at Law Inadequate. The Executive acknowledges that any remedy at law for breach of any of the covenants set forth in Sections 4, 5 and 6 contained in this Agreement would be inadequate and the Company shall be entitled to preliminary and
permanent injunctive relief in the event of any such breach, without any requirement to post bond. 
  
 8. Termination of Employment. 
  
 (a) The Executive’s Period of Employment may not be terminated prior to the expiration of the Term except in accordance with the provisions of this Section 8. 
  
 (b) The Executive’s Period of Employment may be terminated by the Company for cause. For purposes of this Agreement,
“for cause” means that termination occurs in connection with a determination, made at a meeting of the Manager at which the Executive (and, at the Executive’s option, his counsel) shall have had a right to participate, that the
Executive has (i) committed an act of gross negligence or willful misconduct, or a gross dereliction of duty, that has materially and adversely affected the overall performance of his duties hereunder; (ii) committed fraud upon the Company in his
capacity as an employee hereunder; (iii) been convicted of, or pled guilty (or nolo contendre) to, a felony that the Manager, acting in good faith, determines is or would reasonably be expected to have a material adverse effect upon the 

  

 5 

 
business, operations, reputation, integrity, financial condition or prospects of the Company; (iv) any material breach by the Executive of the terms hereof;
(v) failure to follow the reasonable directives of the Member that are lawful and consistent with the Executive’s position as the President of the Company; (vi) the Executive’s habitual drunkenness or habitual substance abuse; or (vii)
civil or criminal violation of any state or federal government statute or regulation, or of any state or federal law relating to the workplace environment (including without limitation laws relating to sexual harassment or age, sex or other
prohibited discrimination), or any violation of any Company policy adopted in respect of any of the foregoing. “For cause” termination must be accompanied by a written notice to that effect. If the Executive is terminated for cause, the
Executive shall be paid through the date of his termination. 
  
 (c) If the Executive dies, the Period of Employment shall terminate effective at the time of his death; provided, however, that such termination shall not result in the loss of any benefit or rights which the Executive may have accrued
through the date of his death. If the Period of Employment is terminated prior to the expiration of the Term due to the Executive’s death, the Company shall make a severance payment to the Executive or his legal representatives equal to the
Executive’s regular salary payments through the end of the month in which such death occurs. In addition, the Company shall make a severance payment to the Executive or his legal representative equal to the Executive’s bonus payment
described in Section 3(b), pro rated for the portion of such fiscal year completed prior to the Executive’s death; provided, however, that such pro rated portion of the Executive’s bonus shall be paid to the Executive following the
completion of such fiscal year at the time similar bonuses are paid to other employees of the Company. 
  
 (d) If the Executive becomes disabled, the Period of Employment may be terminated, at the Company’s option, at the end of the calendar month during
which his disability is determined; provided, however, that such termination shall not result in the loss of any benefits or rights which the Executive may have accrued through the date of his disability. If the Period of Employment is terminated
prior to the expiration of the Term due to the Executive’s disability, the Company shall make a severance payment to the Executive or his legal representative equal to the Executive’s regular salary payments for a period of six (6) months
from the date of such termination or, if sooner, until payments begin under any disability insurance policy maintained by the Company for the benefit of the Executive. For the purposes of this section, the definition of “disability” shall
be the same as the definition of a “permanent disability” contained in any long-term disability insurance policy maintained by the Company in effect at the time of the purported disability, or last in effect, if no policy is then in
effect. If the Company has never maintained a long-term disability policy, the Manager shall determine, in good faith, whether the Executive is disabled for purposes of this subsection (d). 
  
 (e) If the Executive’s Period of Employment is terminated by the
Executive for “Good Reason,” as hereinafter defined, or is terminated by the Company without cause (and the Company may terminate the Period of Employment without cause at any time) other than at the end of the Term, then, in addition to
the other rights to which the Executive is entitled upon a termination as provided for herein, the Executive shall also be entitled to (i) continued payments equal to the Executive’s then current periodic base salary for a length of time equal
to the remainder of the Term, plus (ii) continued payments of the annual bonus(es) that the Executive would have earned pursuant to Section 3(b) through the remainder of the Term if the Executive’s 

  

 6 

 
employment had continued through the end of the applicable bonus period, such bonus to be determined based on the actual results of the Company and on a
rating of “satisfactory” with respect to the Executive’s individual performance for such year and paid at such time as bonuses are generally paid to executives for such year. For purposes of this Agreement, the term “Good
Reason” shall mean: (i) the failure by the Company to observe or comply with any of the provisions of this Agreement if such failure has not been cured within ten (10) days after written notice thereof has been given by the Executive to the
Company; or (ii) at the election of the Executive, upon a Change in Control of the Company, as defined in Section 10(f) (which election can be made at any time upon thirty (30) days’ prior written notice given within two (2) years following the
date on which the Change in Control of the Company occurred) if, subsequent to such Change in Control, there is a material diminution in the position, duties and/or responsibilities of the Executive. 
  
 9. Effect of Termination. Upon termination of the Executive’s employment for any
reason whatsoever, all rights and obligations of the parties under this Agreement shall cease, except that the Executive shall continue to be bound by the covenants set forth in Sections 4, 5, 6 and 7 hereof, and the Company shall be bound to pay to
the Executive accrued compensation, including salary and other benefits, to the date of termination and any severance payments which may be owed under the provisions of Section 8 hereof. 
  
 10. Miscellaneous. 
  
 (a) This Agreement may not be assigned by the Executive. The Company may assign this Agreement in connection with a Change in Control. 
  
 (b) In the event that any provision of this Agreement is found by a court of
competent jurisdiction to be invalid or unenforceable, such provision shall be, and shall be deemed to be, modified so as to become valid and enforceable, and the remaining provisions of this Agreement shall not be affected. 
  
 (c) This Agreement shall be governed by and construed in accordance with the
laws of the State of Connecticut. 
  
 (d) No modification of this
Agreement shall be effective unless in a writing executed by both parties. 
  
 (e) This Agreement constitutes the entire agreement of the parties with respect to the subject matter hereof, and supercedes all prior agreements, representations and promises by either party or between the parties.

  
 (f) For purposes of this Agreement, “Change in Control of
the Company” shall mean: (i) a sale or exchange by the stockholders of more than fifty percent (50%) of the Company’s voting stock (whether in a single or a series of related transactions), (ii) a merger or consolidation in which the
Company is a party, (iii) the sale, exchange or transfer of all or substantially all of the assets of the Company (whether in a single or a series of related transactions), or (iv) a liquidation or dissolution of the Company, wherein, upon any such
event described in clauses (i) through (iv) above, the stockholders of the Company immediately before such event do not retain immediately after such event direct or indirect beneficial ownership of 

  

 7 

 
more than fifty percent (50%) of the total combined voting power of the outstanding voting stock of the Company, its successor, or the corporation to which
the assets of the Company were transferred, as the case may be. For purposes of the preceding sentence, indirect beneficial ownership shall include, without limitation, an interest resulting from ownership of the voting stock of one or more
corporations which, as a result of such event, own the Company or the transferee corporation(s), as the case may be, either directly or through one or more subsidiary corporations. 
  
 [Signature page follows.] 
  

 8 

 IN WITNESS WHEREOF, the parties hereto have signed this Agreement as of the date first above written.

  

			
	 MPAV ACQUISITION LLC

		
	 By:
	 	 /s/ James G. Binch

	 	 	 Name: James G. Binch

	 	 	 Title: President

  

			
	MEMRY CORPORATION (with respect to Sections 1(a) and 3(b) only)
		
	 By:
	 	 /s/ James G. Binch

	 	 	 Name: James G. Binch

	 	 	 Title: President and Chief Executive Officer

  

			
		
	 By:
	 	 /s/ James Dandeneau

	 	 	 Name: James Dandeneau

  

 9

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