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  AMENDED, RESTATED AND EXTENDED SERVICE AND REPRESENTATION AGREEMENT BETWEEN
            PROFESSOR GIUSEPPE MARINEO, DELTA RESEARCH & DEVELOPMENT
                       AND COMPETITIVE TECHNOLOGIES, INC.
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                                   AGREEMENT
                                   ---------

This  AMENDED,  RESTATED  AND  EXTENDED  SERVICE  AND  REPRESENTATION  AGREEMENT
("Agreement" or "SARA") effective as of the 1st of April 2011 ("Effective Date")
by  mutual consent of Competitive Technologies, Inc. (hereinafter referred to as
"CTTC"),  a  Delaware  corporation  having  a  place  of  business  at:

          Competitive Technologies, Inc.
                               1375 Kings Highway
                            Fairfield, CT 06824 USA;

Professor Giuseppe Marineo (hereinafter referred to as "MARINEO"), an individual
having  an  address  at:

                           Professor Giuseppe Marineo
                          Delta Research & Development
                           Via di Mezzocammino, n. 85
                             00127 Rome, Italy; and

Delta Research & Development (hereinafter referred to as "DELTA"), a partnership
organized  under  the  laws  of  Italy  and  having  an  address  at:

                          Delta Research & Development
                           Via di Mezzocammino, n. 85
                               00127 Rome, Italy

CTTC, MARINEO, and DELTA being sometimes hereinafter referred to singularly as a
"Party"  and  collectively  as  "Parties".

                              W I T N E S S E T H:
                              -------------------

WHEREAS,  MARINEO  and/or  DELTA  have  full  and  complete ownership to certain
Technologies  (as  defined  herein),  and  have,  or  will  have  on newly added
Technologies,  the  full  and  exclusive  right  to  grant  licenses  for  such
Technologies;  and

WHEREAS, MARINEO and DELTA represent that rights to such Technologies, including
the  rights  to  the  Technology known as "Scrambler Therapy" that is subject to
initial  Services  and  Representation Agreement (SARA) among the Parties and is
included  in  their  entirety  within the scope of this Agreement, have not been
licensed  exclusively  and  are  available  for  exclusive  or
nonexclusive  licensing  hereunder;  and

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WHEREAS,  the  initial  SARA, signed on the 25th of July 2007 and effective from
the  9th  of July 2007, remains effective and binding on the Parties through the
effective  date  of  this  Agreement and that all Parties wish to redefine their
rights  and  obligations by superseding the initial SARA with this Agreement and
consensually  terminating  the  initial  SARA.

WHEREAS,  MARINEO  and  DELTA  desire  that  CTTC continue to serve as Agent for
MARINEO  and DELTA (as defined herein) for certain Technologies for the purposes
of  marketing  and  licensing  those  Technologies and for the administration of
licenses  and  distributorships which are granted in connection therewith within
the  scope  of  the  present  Agreement;  and

WHEREAS,  CTTC  has the capabilities for the exploitation of, and administration
of  rights  to,  Technologies  and  is  willing  to undertake such functions for
MARINEO  and  DELTA  under  the  terms  set  forth  in  this  Agreement.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, and the mutual performance of the undertakings
herein,  it  is  agreed  by  the  Parties  that:

1.0     DEFINITIONS

1.1     "TECHNOLOGY,"  or  "TECHNOLOGIES,"  or  "TECHNOLOGY(IES)" shall mean the
subject  matter  described  and/or  claimed  in  invention  disclosures,  patent
applications  and  patents issuing therefrom, including any foreign equivalents,
and  any  extensions, renewals, continuations, continuations-in-part, divisions,
patents  of addition, and/or reissues thereof, or Improvement Inventions thereto
which  may  be  subject  to  separate  patents  and/or  applications,  and other
additional  Intellectual  Property  to  which  MARINEO and/or DELTA have or will
obtain  ownership  rights,  all  of  which  are  subject  to  this  Agreement.
Technologies  subject  to  this  Agreement  and the corresponding patents and/or
patent  applications  as  described  above  are  each  listed  in  EXHIBIT  A.

1.1.1     From  time  to  time, MARINEO and DELTA and CTTC may agree, in a dated
and  signed  writing  in  the  form  of  EXHIBIT  C  to  this  Agreement, to add
Technologies  to  EXHIBIT  A.  Such  added  Technologies  become subject to this
Agreement  as of the effective date of such writing.  Any amendment by EXHIBIT C
to  add  Technologies to EXHIBIT A will include and incorporate by reference all
terms and conditions of this Agreement to govern the relationship of the Parties
as  to  the added Technologies. Only Technologies expressly incorporated in this
Agreement,  by amendment by EXHIBIT C to add Technologies to EXHIBIT A, shall be
included  within  the  scope  of  this  Agreement.

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1.1.2     From  time to time, Technology may be deleted from EXHIBIT A, and thus
from  the  scope  of  this  Agreement,  if  subsequently  a  proper  evaluation
objectively  demonstrates  that  the  Technology is not commercially viable from
CTTC's  perspective.  In  such  event,  CTTC shall inform MARINEO and DELTA in a
signed  and  dated  writing  in  the form of EXHIBIT C to this Agreement of such
decision  to  delete  the  Technology from EXHIBIT A, and thus from the scope of
this  Agreement, and to release its Agency in representing the Technology.  Such
deleted  Technology  is  released  from  the  scope  of this Agreement as of the
effective  date of such writing.  Technology shall not be deleted from EXHIBIT A
if  such  Technology  is  covered by a Transfer or Distribution Agreement, or if
CTTC  is  actively  Licensing  such  Technology.

1.2     "IMPROVEMENT  INVENTION"  shall mean any new or modified Technology(ies)
and/or  any  new  or  modified  device  incorporating a technology that performs
essentially  the  same function as a Technology in a better or more efficient or
more  economical  way.

1.3     "INTELLECTUAL  PROPERTY"  shall  mean patented or unpatented inventions,
proprietary  information,  know-how,  show-how,  drawings,  plans,  designs  and
specifications,  operating  parameters,  engineering,  software,  firmware,  and
algorithms  which  relate  to  or  facilitate the utilization of the Technology.

1.4     "INCOME" shall mean any option fee, license fee, cancellation fee, other
initial payment, royalty payment, rent, sale proceeds, other remuneration or any
type  of  payment  received by CTTC or MARINEO and/or DELTA, as the case may be,
from  any  Transferee  under  any  Transfer  Agreement  or Distributor under any
Distribution  Agreement subject to this Agreement, whether in cash or in kind or
in  any instrument of equity or debt, including equity in a business entity, net
of  any  taxes  due,  except  U.S. federal and/or state income taxes.  If Income
shall  not  be  in cash or in a form with a clearly determinable current cash or
market  value,  MARINEO,  DELTA  and CTTC agree that they will negotiate in good
faith between themselves as to the proper value thereof.  The Parties agree that
payment in cash by means of wire transfer or other agreed transfer method is the
standard  and  preferred  method  for payment of Income under this Agreement and
that  whenever  cash  payment  would  not  be  possible or practicable, then the
Parties  will  reasonably  agree in advance to an alternative method of payment.

1.5     "LICENSE"  or  "LICENSING" or "LICENSED" or "LICENSING ACTIVITIES" shall
mean  activity  involved  in  or  related  to  the  conveyance of any right to a
third-party  Transferee  Candidate  or  Distributor  Candidate  by  operation
hereunder,  with  the  objective  of  entering  into  a Transfer or Distribution
Agreement  with  such  Transferee  Candidate  or  Distributor Candidate.  Rights
conveyed  under  this  Agreement  and  any  consequent  Transfer or Distribution
Agreement  include  only  license  rights  to a Transferee for manufacturing and
distribution  rights to a Distributor, rights arising under contract or original
equipment  manufacturing  ("OEM")  agreements,  or consulting agreements wherein
CTTC,  MARINEO,  DELTA  and/or  an agreed third party may be the OEM provider of
manufactured  product  or  the  provider  of  consulting services to other third
parties.

1.6     (a)  "TRANSFEREE  CANDIDATE"  shall  mean  any  person  or  partnership,
corporation  or other business entity identified by a Party to this Agreement as
having  a  potential  interest  in  entering  into  a  Transfer  Agreement.  (b)
"DISTRIBUTOR  CANDIDATE"  shall  mean  any  person  or  partnership,

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corporation  or other business entity identified by a Party to this Agreement as
having  a  potential  interest  in  entering  into  a  Distribution  Agreement.

1.7     "BONA  FIDE LICENSING CANDIDATES" shall mean those candidates identified
by  MARINEO  and/or  DELTA,  and  supported  by  documentation,  who  have  been
approached  by  MARINEO  and/or  DELTA for the purpose of Licensing the specific
newly  added  Technology(ies), have responded positively to MARINEO and/or DELTA
with  respect to such Licensing, and have begun negotiations with MARINEO and/or
DELTA  with  respect  to  such  Licensing,  wherein all the described activities
occurred  before  the  Effective  Date  of  this Agreement.  Bona Fide Licensing
Candidates  are  listed  in  EXHIBIT  B,  and  limited  to  those  so  listed.

1.8     "BONA  FIDE  NEGOTIATIONS"  shall  mean  those negotiations supported by
documentation  related  to  Bona  Fide  Licensing Candidate(s) of MARINEO and/or
DELTA  identified  to  CTTC  prior  or  during  the  term  of  this  Agreement.

1.9     (A)  "TRANSFER AGREEMENT" shall mean any agreement conveying rights in a
Technology  as  applicable  to  a  Transferee  by operation hereunder.  Transfer
Agreements  shall  include:  license  agreements  as defined in SUBPARAGRAPH 1.5
above;  manufacturing agreements, consulting and/or training agreements; and OEM
agreements.  Each  Transfer Agreement shall have a fixed duration no longer that
the  term  of this Agreement, and may be renewable at the option of CTTC so long
as any option exercise by CTTC shall not cause term of the Transfer Agreement to
exceed  the term of this Agreement.  (b) "DISTRIBUTION AGREEMENT" shall mean any
agreement  conveying  fixed commercial rights to sell Product(s) incorporating a
Technology.  Distributor  Agreements  shall  not convey any license or rights in
the  Technology  beyond that necessary to own, to operate, to market and to sell
the  Product(s)  incorporating the Technology.  Each Distributor Agreement shall
have  a  fixed  duration  no  longer that the term of this Agreement, and may be
renewable at the option of CTTC so long as any option exercise by CTTC shall not
cause  term  of any Distribution Agreement to exceed the term of this Agreement.

1.9.1 CTTC and CTTC's Distributors and Transferees are expressly prohibited from
executing any Transfer, Distribution or other Agreement for the sale or transfer
of  any  of  the Technologies or the Products in any nation (a) contained on the
list  of  State Sponsors of Terrorism maintained by the United States Department
of  State  or  (b)  for which no formal patent filing request has been submitted
except by express separate agreement amongst Parties as provided by SUBPARAGRAPH
6.1.1  below.  The  Parties acknowledge and mutually agree that any Nation, even
if  part  of the assigned Territory, will be automatically and immediately taken
out  of the present Agreement, if added by the U.S. State Department to the list
of  State  Sponsors  of  Terrorism.

1.10     (a)  "TRANSFEREE"  shall  mean  any person or partnership, corporation,
business organization or other legally recognized entity that receives rights to
a  Technology  through  a  Transfer  Agreement  covering  such  Technology.  (b)
"DISTRIBUTOR"  shall  mean  any  person  or  partnership,  corporation, business
organization  or  other legally recognized entity that receives fixed commercial
rights  to  sell  Product(s)  incorporating  a  Technology.

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1.11     "TERRITORY" shall mean worldwide, unless otherwise defined herein for a
particular  Technology.

1.12     "AGENCY"  or  "AGENT"  or  the like shall mean exclusive representation
relationship  of  CTTC  to  MARINEO  and  DELTA  for the Technology(ies), unless
otherwise  defined  herein  for  a  particular  Technology.

1.13     "INVENTOR"  shall  mean  MARINEO and/or DELTA and any employees, and/or
other  persons  from whom MARINEO and/or DELTA has acquired or may acquire title
to  Technology.

1.14     "PRE-EXISTING  USER"  shall  mean  MARINEO,  who  retains some Products
capable  of delivering Scrambler Therapy (as defined under SUBJECT TECHNOLOGY in
EXHIBIT  A),  and any institution to whom MARINEO has given such a Product prior
to  the  Effective Date of this Agreement, and solely for the purpose of further
testing,  improving and using such Products by MARINEO or solely for the purpose
of  further  testing  and  using  such Products at such institutions, where such
Products  may not be sold or otherwise transferred to another institution or any
other  entity.  Pre-Existing  Users  are  listed  under  EXHIBIT  D.

1.15     "PRODUCT(S)"  shall  mean  Invention(s)  by  MARINEO  and/or  DELTA
incorporating  Technology(ies)  as  defined  in  SUBPARAGRAPH 1.1 above that are
subject  to  this  Agreement  as  contained  in  EXHIBIT  A.

1.16  SCRAMBLER  THERAPY  is  a  specific  Technology, per SUBPARAGRAPH 1.1, the
patent  for  which  is  owned  by  Professor  MARINEO.  This  Technology is also
sometimes  referred  to in various public documents as "Apparatus and Method for
Quick  Pain  Suppression",  "Transcutaneous Electrical Nerve Stimulator for Pain
Relief",  "Pain  Stopper",  "Electrical  Neuropathic Treatment", or Calmare(R) -
MC-5A  pain  device,  machine  or  unit.  All those names refer to the Scrambler
Therapy  and/or the machine that incorporates that Technology as may be enhanced
by  Professor  Marineo  from  time  to  time.

2.0     GRANT OF RIGHTS

2.1     (a)  MARINEO  and  DELTA  hereby  grant  to  CTTC, and CTTC accepts from
MARINEO  and DELTA, the right to act as exclusive Agent for MARINEO and DELTA in
the  Territory during the term of this Agreement to License the Technology(ies),
within  the  scope  of  paragraph  1.5,  entering into Transfer and Distribution
Agreements,  and  to  perform  the  duties  described  in  SECTION  3.0  of this
Agreement.  (b)  CTTC is expressly precluded by this Agreement from the outright
and/or  partial sale or grant of the Technology and/or the Intellectual Property
and  from  any agreement or other act that would result, directly or indirectly,
in  the  alienation or in the loss of property rights by MARINEO and/or DELTA in
the  Technology(ies),  Product(s),  any  feature  or aspect of the Technology or
assembly,  part,  component  or  software of the Product(s) or of the underlying
Intellectual  Property  and/or  related  patents  and  Trademarks.

2.2     MARINEO and DELTA grant to CTTC the right to disclose, to Transferees or
Transferee Candidates and to Distributors or Distributor Candidates, information
regarding  the  Technology

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<PAGE>
and Products, upon the condition that the disclosure is accomplished in a manner
and  form  suitable  and  appropriate  to protect and to safeguard patent rights
thereto,  as  well  as  confidential  information  related  to  Technology,  any
Improvement  Invention,  and  Intellectual  Property  particularly  when not yet
protected by patent application or issuance.  In any event, CTTC's disclosure of
this  information shall at all times be subject to the prior express approval by
MARINEO,  who  shall  have  the  right  to determine in advance for each type of
recipient  the  most  appropriate  disclosure  method  and  media.  Upon  CTTC's
compliance  with  these disclosure conditions, MARINEO and DELTA waive any claim
relating  to  CTTC's  disclosures  made  during attempts by CTTC to License such
Technology.

3.0     DUTIES OF CTTC - LICENSING

3.1     LICENSING  PROGRAM.  As  Agent  of MARINEO and DELTA, CTTC will continue
the  program  of  Licensing Technologies, in progress under the initial SARA, to
the  extent  warranted  in  CTTC's  opinion  by  the  commercial  potential  and
patentability  or other legal protectability of such Technologies and within the
limits  of  reasonable  business  judgment.  CTTC  will  consult in advance with
MARINEO  and/or  DELTA's personnel and other Inventors designated or approved by
MARINEO  and DELTA in order to plan Licensing strategies for Technologies.  Upon
prior concurrence by MARINEO and/or appropriate personnel of DELTA designated by
MARINEO,  CTTC  will negotiate Transfer and Distribution Agreements conveying to
third  parties  manufacturing  and  distribution for Technologies, in accordance
with the guidelines established by EXHIBIT E and subject to this Agreement. Upon
prior concurrence by MARINEO and/or appropriate personnel of DELTA designated by
MARINEO,  any  future  Transferee Candidate for a manufacturing License shall be
selected  jointly  by  CTTC  and  MARINEO pursuant to a Transfer Agreement for a
manufacturing license.  The Parties acknowledge and ratify that, pursuant to the
initial SARA, CTTC has entered into a Transfer Licensing agreement with GEOMC of
South  Korea  to  be  the  manufacturer  for  the  Products that incorporate the
"Scrambler  Therapy"  Technology

3.1.1. Pursuant to SUBPARAGRAPH 2.1(B), CTTC shall notify MARINEO AND DELTA upon
receipt  of any offer and before making any offer for the sale of the Technology
and/or  Intellectual  Property.  Following CTTC's notice to MARINEO and DELTA of
potential  interest  in  a  purchase  and/or  sale  of  the  Technology  and/or
Intellectual  Property,  MARINEO  and  DELTA  shall  have the exclusive right to
decide  whether  CTTC should proceed with negotiations for the purchase and sale
of  the  Technology and/or Intellectual Property.  In the event that MARINEO and
DELTA decide that CTTC could proceed with negotiations for the purchase and sale
of  the  Technology  and/or  Intellectual  Property, then CTTC will proceed with
those  negotiations  upon prior concurrence on a milestone-by-milestone basis by
MARINEO  and/or  appropriate personnel of DELTA designated by MARINEO, provided,
however,  that  any  Agreement  for  sale of the Technology(ies) will be jointly
evaluated,  defined  and  executed  by  CTTC,  MARINEO  and  DELTA.

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3.1.2 Pursuant to SUBPARAGRAPH 3.1 and this SUBPARAGRAPH, CTTC will obtain prior
approval  from  MARINEO  and/or  DELTA  for  any  Transfer  Agreement  and  any
Distribution  Agreement  approving:  (i)  Training  in the use of the Technology
and/or  the Product(s), (ii) Clinical Studies, or (iii) any public communication
(e.g.,  press  releases,  meeting  publications  and other generic, descriptive,
instructive  material  publications).

3.1.3  For  Training  for  the  use  of  Technologies  pursuant  to SUBPARAGRAPH
3.1.2(I), MARINEO will produce the standard mandatory protocol to be implemented
for the proper completion of training of Transferees and Distributors.  Each new
Transfer  and  Distribution  Agreement  shall  include  a  clause requiring that
training  facilities andpersonnel (i) be certified by MARINEO and/or DELTA prior
to  Training  and  (ii)  are  subject to periodic subsequent audit by and at the
discretion  of  CTTC,  MARINEO  and/or  DELTA.

3.1.4  If  CTTC desires to establish, or to allow a Transferee or Distributor to
establish,  any  medical  or  scientific  advisory  board,  with  respect to the
Technology  for  such  purpose  as  supporting the scientific image or providing
further  verification  in  the  marketplace  of  the efficacy of the Products or
providing  local  market  support, CTTC will closely monitor any such scientific
advisory  board  in  an effort to ensure that they do not change in any way  the
scientific explanations or image, usage protocols, clinical studies or functions
of the Technology or the Products as established by MARINEO and/or DELTA. CTTC's
Transfer  and Distribution Agreements shall provide that any such advisory board
will purport neither to represent, directly or indirectly, MARINEO and/or DELTA,
nor  to  make,  in  MARINEO's  and/or  DELTA's  behalf, any pronouncement on the
functions,  science,  operating  parameters  or  optimal  use  or  image  of the
Technologies  or  Products.

3.1.5  The  Parties  acknowledge  that neither the Technologies nor the Products
subject  to  the  Agreement require further clinical studies for confirmation of
efficacy.  CTTC  nonetheless  will  specify  in  any  Transfer  or  Distribution
Agreement  that  any  Transferee  or  Distributor that proposes further Clinical
Studies,  for  any  purpose,  such  as  for  new  and  different applications or
addressing  specific  local  market  requirements, the Transferee or Distributor
sponsoring  or  enabling  the  clinical  studies  (i)  shall obtain CTTC's prior
authorization  and (ii) shall accept and comply with plenary technical direction
by  MARINEO  and/or DELTA prior to and during any requested clinical study.  The
costs  for any clinical study will be fully paid by the requesting Transferee or
Distributor  or a cooperating academic or medical facility, but may be partially
or  fully  paid  by CTTC, MARINEO and/or DELTA in their sole discretion if CTTC,
MARINEO  and/or  DELTA concur on the usefulness of any proposed study beyond the
local  market.  No  clinical  study  will be approved unless those administering
treatments and evaluating the study have been previously trained in the protocol
established  by  MARINEO  pursuant  to  SUBPARAGRAPH 3.1.3. MARINEO shall at all
times  maintain the exclusive right personally to train personnel conducting any
clinical  study.  MARINEO  will provide scientific support to CTTC so that CTTC,
in  turn,  will  be  responsible for verifying that all procedures and protocols
established  by  MARINEO  are  observed  in  the  conduct of any clinical study.

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3.1.6  CTTC  agrees  to  include  in  each  Distribution  and Transfer Agreement
provisions  ensuring  that the Technical Assistance for each of the Technologies
and  Products  will  be determined by MARINEO and/or DELTA who will unilaterally
decide  when  to  have  it  perform  at  the  manufacturing  site, when in other
locations  and  what  otherwise  provided  in  EXHIBIT  G  (Technical Assistance
Procedure).

 3.1.7  CTTC  shall  provide,  in  each new or extended Transfer or Distribution
Agreement,  fixed  and  binding contractual commitments from each Transferee and
Distributor  that  no manufacturer, other Transferee or Distributor can make any
modification,  even  the  smallest  in  any respect, to the Technology or to the
Products  without  the  prior  written  consent  of  MARINEO  and/or  DELTA.

3.1.8  The  Parties acknowledge that provisions of SUBPARAGRAPHS 3.1.6 and 3.1.7
are  essential  to  protect the Technology and the Products to prevent potential
cloning, reverse engineering or patent and/or Intellectual Property infringement
and  are  to  be considered material provisions that are of the essence to  this
Agreement.

3.2     LICENSING SERVICES.     CTTC, from and after the date of this Agreement,
shall  use  all  commercial  reasonableness  and  shall  engage in duly diligent
efforts  to  find  acceptable Transferees and Distributors for Technologies, and
shall  perform  the following Licensing and other services for MARINEO and DELTA
in  connection  therewith

3.2.1     PREPARATION,  including: (I) business planning for Licensing; and (II)
defining objectives and goals of collaboration with Candidate Transferees.  Said
preparation  documents,  if  any,  are  proprietary  to  CTTC  and  will  not be
distributed  outside  of  CTTC.  However,  any  such  documents  shall  be  made
available to MARINEO and/or DELTA for review upon written request of MARINEO and
DELTA.

3.2.2     STRATEGIC  COMPANY  INTRODUCTIONS,  including:  (I)  repackaging  of
technical  and  market  information for presentation and promotion to Transferee
and Distributor Candidates; (II) analysis of market suitability and targeting of
appropriate  Transferee  and Distributor Candidates; (III) focused introductions
and  presentations  to  key firms; and (IV) presentation of feed-back to MARINEO
and  DELTA.

3.2.3     NEGOTIATIONS  AND  CLOSING,  including:  (I)  meetings  and  Licensing
negotiations  on  behalf  of MARINEO and DELTA; (II) preparation of Transfer and
Distribution  Agreements  and  other related documentation; and (III) closing of
Transfer  and  Distribution  Agreements.

3.2.4     POST-IMPLEMENTATION  SERVICES,  including:  (I) monitoring performance
and  compliance  of Transferees and Distributors, including, but not limited to,
conducting  royalty  audits of Transferees at CTTC's option (the expense of such
audits  to  be  paid  in  accordance  with  the  cost  recovery  provisions  of
SUBPARAGRAPH  7.3);  (II)  accounting  and  production of accurate statements as
required  herein; and (III) the collection and distribution of Income hereunder.

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3.2.5     CERTAIN  EXPENSES.     CTTC agrees that all expenses incurred by it in
the  performance  of  its duties hereunder, except as otherwise provided herein,
shall  be  at  CTTC's  cost  and  expense.

3.2.6     DEFAULT.  In  the event that a Transferee or Distributor shall default
under  the  terms  of  any Transfer Agreement negotiated by CTTC for MARINEO and
DELTA,  CTTC  shall  have  the  primary  obligation  to  seek performance by all
reasonable  means;  including  the  obligation  to  make  legal  demand  as  a
prerequisite  toinitiating  any  action  in law or equity against any defaulting
party  at  CTTC's  own  cost.  In  the event that a default can be cured only by
resort to legal remedies, the Parties nonetheless agree to consult in advance to
determine  the  appropriate action to be taken and to confirm that all costs and
expenses of the action shall be recovered before any proceeds are distributed as
Income.

3.2.6.1     In  the  event  that  MARINEO  and  DELTA  elect  not  to enforce an
obligation  against  a  defaulting  party,  and  require that CTTC not undertake
enforcement  unilaterally,  then the Parties agree to negotiate in good faith in
order  to  provide, and MARINEO and DELTA shall ultimately provide, compensation
to  CTTC  for  the loss of Income and/or actual damages, less legal costs, which
might  have  otherwise accrued to CTTC from the defaulting party had enforcement
been  brought  to  a  satisfactory  conclusion.

3.2.7     ENFORCEMENT  AND DEFENSE OF PATENTS.  In the event that either CTTC or
MARINEO  and/or  DELTA becomes aware of the infringement of a patent included in
the  Technology,  or  if  such  a  patent  is  attacked  by  a  third party in a
declaratory  judgment action, CTTC and MARINEO and DELTA agree to confer for the
purpose  of determining how to enforce or to defend the patent as provided under
SUBPARAGRAPH  6.2,  subject to the provisions of EXHIBIT C for Scrambler Therapy
and  in  the  subsequent  agreement(s)  for  Technologies  added  pursuant  to
SUBPARAGRAPH  1.1.1;

3.2.7.1     CTTC, with prior written approval by MARINEO and/or DELTA, may grant
a  Transferee or Distributor the right to enforce or to defend a patent Licensed
to  it, subject to the requirement of notice to and prior approval by MARINEO of
such  defense.

4.0     REPRESENTATIONS  AND  AGREEMENTS  BY  MARINEO  AND  DELTA

4.1     MARINEO  and  DELTA  agree that, during the term of this Agreement, CTTC
shall  serve  as  Agent  for MARINEO and DELTA for the purposes of Licensing and
administering Transfer Agreements for Technology and Distribution Agreements for
Products  incorporating  the  Technology,  and  performing  other  services  in
accordance  with  SECTION  3.0  hereof.

                                  CTTC8K5311111
<PAGE>
4.2     MARINEO and DELTA agree that they will not hereafter, during the term of
this  Agreement,  engage  in  any action contrary to the rights granted or to be
granted  to  CTTC  in  accordance  with  the  terms  of  this  Agreement.

4.3     Pursuant  to  the laws of Italy, MARINEO and DELTA represent and warrant
that:

4.3.1     MARINEO  and/or  DELTA  have  or  will  acquire  as  to  newly  added
Technologies  all  necessary  rights to the Technologies to which this Agreement
applies,  including  the  rights  to  each  patent  and/or  patent  application
associated  with  each  Technology  listed  in  EXHIBIT  A;

4.3.2     MARINEO  and/or  DELTA  have  the  right  to  grant  rights  to  the
Technologies  to  which  this  Agreement  applies;

4.3.3     MARINEO  and  DELTA  have  the  full right and power to engage CTTC to
perform  the  duties  and  enjoy  the  benefits  described in this Agreement and
MARINEO  and  DELTA  will  comply  with  the  terms  of  this  Agreement;

4.3.4     For  each  Technology,  such  Technology  is  not  the  subject of any
previous  or  pending  litigation,  and  MARINEO  and DELTA are not aware of any
outstanding  threats  of litigation, liens, or other factors that may impact the
Technology  in  any  way;  and

4.3.5     The  status  of each patent or patent application associated with each
Technology  listed  in EXHIBIT A is current and correct as of the Effective Date
of  this  Agreement,  or as of the date that a particular Technology is added to
EXHIBIT  A  and  thus  to  this  Agreement.

4.4  MARINEO  and  DELTA  will  be  responsible to CTTC for any damages actually
incurred  by  CTTC  due  to  a  breach  or  failure  of  any  of  the  foregoing
representations and warranties or to a breach of any other provisions under this
Agreement.  MARINEO  and  DELTA shall defend, indemnify, reimburse and hold CTTC
harmless  from  and  against any and all liabilities, losses, damages and costs,
including reasonable attorneys' fees (collectively, "Losses"), resulting from or
arising  out  of  claims  of  CTTC  based  upon  (a)  the  grossly  negligent,
intentionally  wrongful  or  illegal acts or omission by MARINEO and/or DELTA in
violation  of  this  Agreement;  or (b) any actions or failure to act by MARINEO
and/or  DELTA  beyond  its/their  authority  granted  hereby.

4.5     Except as provided in SUBPARAGRAPH 4.4, in no event shall MARINEO and/or
DELTA be liable under this Agreement or otherwise to the other for more than the
actual  compensatory damages incurred by CTTC and MARINEO and/or DELTA shall not
be  liable  for  any  incidental,  indirect,  punitive, consequential or special
damages arising out of or in connection with the Agreement regardless of whether
such  claims  are  asserted  in  contract,  tort,  warranty,  strict  liability,
negligence,  or  otherwise,  even  if  MARINEO  or  DELTA  were  advised  of the
possibility  of  such  damages.  This  SECTION  4  retroactively  supersedes and
replaces  the indemnification provisions of the initial SARA amongst the Parties
signed  on  July  25th  2007,  effective  from  July  9th  2007.

                                  CTTC8K5311112
<PAGE>
5.0     REPRESENTATIONS  AND  AGREEMENTS  BY  CTTC

5.1     CTTC  agree that, during the term of this Agreement, CTTC shall serve as
Agent  for  MARINEO  and  DELTA  for the purposes of Licensing and administering
Transfer  Agreements  for  Technology  and  Distribution Agreements for Products
incorporating  the  Technology,  and  CTTC  shall  perform all other services in
accordance  with  SECTION  3.0  hereof.

5.2     CTTC  agree  that  it  will  not  hereafter,  during  the  term  of this
Agreement,  engage  in  any  action or inaction contrary to its duties or to the
interests  of  MARINEO and DELTA in accordance with the terms of this Agreement.

5.3     Pursuant  to  the  laws  of  the  state of Connecticut and of the United
States,  CTTC  represents  and  warrants  that:

5.3.1     CTTC  has the full right and power to enter into this Agreement and to
accept and to perform the duties granted under SECTION 3.0, and CTTC will comply
with  the  terms  of  this  Agreement.

5.3.2  CTTC  commits  to  take care, directly or indirectly, that procedures and
insurance  coverage  are  in place for damages and claims by end-users and other
third  parties  arising  from  liability for the use of the Calmare or any other
device  that  incorporates  the  Technology in accordance with methods of common
business  practice in the Medical Devices Market. The adequate economic coverage
scope  will have to be provided through insurance directly by CTTC or ensured by
CTTC through Transferees and Distributors as commercially reasonable application
of  good  common  business  practice  in  the Medical Device Market or Territory
assigned.  The  Insurance  Coverage  shall  be  mandatory  for any Transferee or
Distributor that will perform manufacturing in whole or in part. Henceforth CTTC
will  not  need  to  raise  its  own  insurance  coverage so long as appropriate
insurance  coverage  is  provided  by  Candidates  in  Transfer and Distribution
Agreements  regarding the Scrambler Therapy Technology that is incorporated into
the  device.  CTTC  shall  likewise  provide  what  is a commercially reasonable
application  of  good  common business practice for an adequate excess insurance
coverage  where  adequate insurance coverage is not provided by the Transfer and
Distribution  Agreements  regarding  the  Scrambler  Therapy  Technology.

5.3.3  With  regard  to  any  Technology(ies)  newly  added  to  EXHIBIT  A, PER
SUBPARAGRAPH  1.1.1,  CTTC  assumes  no responsibilities whatsoever and makes no
other  representation  or  warranty,  expressed  or  implied,  relating to those
Technology(ies).

5.3.4     CTTC does not assume any liability with respect to any infringement of
patents or other rights of third parties due to a Transferee's operation under a
Transfer  Agreement  or  to  a  Distributor's  operation  under  a  Distributor
Agreement,  except that any infringement of patents or other rights of any third
parties  that have been caused by CTTC's failure to comply with any provision of
this  Agreement,  especially  those  provisions  governing

                                  CTTC8K5311113
<PAGE>
protection  of  the  patents  and Intellectual Property by CTTC contained in the
SUBPARAGRAPHS  2.2,  3.1.6 and 3.1.7.  In any case where infringement of patents
or other rights of any third parties has been caused by CTTC's failure to comply
with  those  provisions  governing  protection  of  the patents and Intellectual
Property  by  CTTC  contained  in  the  SUBPARAGRAPHS 2.2, 3.1.6 AND 3.1.7, CTTC
commits  to  indemnify  and  hold  harmless MARINEO and/or DELTA, to the fullest
extent permitted by Law, from any damages that might be suffered consequently to
those  violations

5.4     CTTC  will  be  responsible  to  MARINEO  and/or  DELTA  for any damages
actually  incurred  by MARINEO and/or DELTA due to a breach or failure of any of
the  foregoing  representations  and  warranties  or  to  a  breach of any other
provisions  under  this  Agreement.  CTTC shall defend, indemnify, reimburse and
hold  MARINEO  and/or  DELTA  harmless from and against any and all liabilities,
losses,  damages  and costs, including reasonable attorneys' fees (collectively,
"Losses"),  resulting  from  or arising out of claims by MARINEO and DELTA based
upon  (a)  the  grossly  negligent,  intentionally  wrongful  or illegal acts or
omissions  by CTTC in violation of this Agreement; or (b) any actions or failure
to  act  by  CTTC  beyond  its  authority  granted  hereby.

5.5     Except  as provided under SUBPARAGRAPHS 5.3.4 and 5.4, in no event shall
CTTC  be  liable to MARINEO and DELTA under this Agreement or otherwise for more
than the actual compensatory damages incurred by the Party making the claim, and
CTTC  shall  not be liable for any incidental, indirect, punitive, consequential
or special damages arising out of or in connection with the Agreement regardless
of  whether  such  claims  are  asserted  in  contract,  tort,  warranty, strict
liability,  negligence,  or  otherwise,  even  if  CTTC  were advised in advance
MARINEO  or  DELTA  of  the  possibility  of  such  damages.  This  SECTION  5
retroactively  supersedes  and  replaces  the  indemnification provisions of the
initial  SARA  amongst the Parties signed on July 25th 2007, effective from July
9th  2007.

6.0     PATENTS  AND  ENFORCEMENT  -  OWNERSHIP

THE  PARTIES ACKNOWLEDGE THAT THE PATENTS, INTELLECTUAL PROPERTY, INVENTIONS AND
RELATED  PROPERTY  THAT ARE, OR AT ANY TIME IN THE FUTURE MAY BE, OBJECTS OF THE
PRESENT  AGREEMENT  ARE  THE  EXCLUSIVE  PROPERTY  OF MARINEO AND/OR DELTA.  THE
PARTIES  WILL  COOPERATE  IN  THE PROSECUTION OF THE PATENT APPLICATIONS ALREADY
FILED  AND IN THE SUBMISSION OF NEW PATENT APPLICATIONS, WITH EXPENSES SHARED BY
AGREEMENT  OF  THE  PARTIES,  PROVIDED, HOWEVER, THAT THE PARTIES SHALL FILE AND
PROSECUTE  PATENT  APPLICATIONS  ONLY  IN  THE  NAME  OF  MARINEO.  NO  PATENT,
INTELLECTUAL PROPERTY OR INVENTION SHALL BE TRANSFERRED OR ASSIGNED TO ANY THIRD
PARTY  EXCEPT both (A) IN STRICT COMPLIANCE WITH THIS AGREEMENT AND (B) WITH THE
PRIOR  WRITTEN  APPROVAL  BY  MARINEO.

6.1     PATENT  PROTECTION,  PROSECUTION  AND  STATUS

The  Parties  acknowledge  that:  (i) during the effective period of the initial
SARA  the Parties filed two patent applications to protect the Scrambler Therapy
Technology  that  were  submitted

                                  CTTC8K5311114
<PAGE>
pursuant  to  the  international  Patent  Cooperation Treaty (PCT), the first of
which is No. PCT/IT2007 000647, and second of which is No. PCT/IT2010/00457 (ii)
both patent applications are and will remain exclusively in the name of MARINEO,
and  CTTC  is  not authorized to grant, in whole or in part, any interest and/or
right  in  those applications or any resultant patent to any third party without
the prior written approval by MARINEO AND/OR DELTA; (iii) the second application
covers  a substantial scientific improvement that is an "advancement of the art"
of  the  Technology for the "Scrambler Therapy" Technology through the exclusive
efforts  and  as  the  exclusive work-product of MARINEO; (iv) processing of the
first  patent  application  is ongoing pursuant to local laws and regulations in
various nations ratifying the PCT; and (v) sufficient time remains to submit the
second  application  for  processing  by  various  PCT  nations.

6.1.1  The  Parties  agree  to prosecute, until grant or rejection, the national
patent  protection applications related to the first PCT application submission,
which  is No. PCT/IT20007 000647, in all of those nations where the local filing
has  been  submitted,  or may be submitted upon concurrence of the Parties.  The
Parties  will  agree,  by the application of sound business judgment upon, those
PCT  nations  that  are  selected  for  filing  and  processing  the  second PCT
application,  which  is No. PCT/IT2010/00457. The Parties further agree that the
second  PCT  application, which is No. PCT/IT2010/00457, will be filed in all of
the  PCT  nations  where patent protection would be necessary or appropriate, as
mutually  agreed  by  Parties,  for  a  wider scope of global patent protection,
avoidance  of patent infringements and cloning of Technologies and/or Product(s)
even  if  a particular selected PCT nation may not have commercial prospects for
sales  of  the Products. This could result in filing the Patent application even
in a Country where sales will not be made, for commercial reasons and/or because
that  Country  has been included in the "List of States Sponsor of Terrorism" as
maintained  by  the  U.S.  State  Department.

6.1.2  PATENT  PROTECTION.  The  Parties  agree that, while jointly pursuing the
patent  protection  stated in SUBPARAGRAPH 6.1.1, they will endeavor to complete
patent  prosecution  as  soon as reasonably possible and they will also commence
necessary  activities  in  order to obtain patent protection for each Technology
even  in nations not listed in the PCT; and that such patent protection shall be
sought  both  in  United  States  and  in  any foreign nation where commercially
reasonable.  The  Parties  will  agree,  by  the  application  of sound business
judgment,  upon  the  selection  of  nations  not  included  in  the list of PCT
participating  nations  for the filing and processing of applications for patent
protection.  The  Parties  further agree that applications for patent protection
will  be  filed  in  all  nations,  without  regard  to whether such nations are
included  in the list of PCT participating nations list, where patent protection
would  be  necessary  or  appropriate,  as  mutually  agreed by the Parties, for
broader  global  protection  of the patent, avoidance of patent infringement and
cloning  of  Technologies and/or Product(s) even if a particular selected nation
may  not  have commercial prospects for sales of the Products. This could result
in filing the Patent application even in a Country where sales will not be made,
for  commercial  reasons  and/or  because  that Country has been included in the
"List  of  States  Sponsor  of  Terrorism"  as  maintained  by  the  U.S.  State
Department.

                                  CTTC8K5311115
<PAGE>
6.1.2.1 CTTC further agrees that all costs necessary for the applicaton and
maintenance of patent protection, for all nations in which an application is
submitted, will be at CTTC's cost and expense for the duration of the Agreement.
Such patent protection, listed as pending applications and issued patents, shall
be set forth with each Technology listed in EXHIBIT A.

6.1.3     PATENT  PROSECUTION.  Each  Party  shall  provide the other Party with
copies  of  all  correspondence or other documents submitted to or received from
the  United  States  Patent  and  Trademark Office and all corresponding foreign
patent  agencies,  and  each  Party shall consult with the other Party regarding
patent  application  filing  and  prosecution,  and patent maintenance, for each
Technology  subject  to  such  application  and/or  patents.  MARINEO  and DELTA
further agree to allow CTTC, pursuant to this SECTION 6 and the other provisions
of  this  Agreement,  to  confer  as  needed  with  the Inventor and/or with the
prosecuting  patent  attorney(s) for each patent application for a Technology to
endeavor  the  protection  of each Technology and Invention; the results of such
conferences  and  any resulting prosecution suggestions shall be communicated to
MARINEO  and  DELTA.

6.1.4     PATENT  STATUS.       Each  Party  shall  inform  the  other  Party in
writing  of  any  changes  or pending changes in the status of any patent and/or
patent  application  associated with each Technology listed in EXHIBIT A, and of
the  filing  of  any  new  patent  application.

6.1.5  Parties  agree  that,  amongst them, there is no case for responsibility,
damages or any kind of liabilities for lack of receiving approval of a Patent in
one/more  Country(ies)  as  long  as the application has been properly prepared,
submitted  and  followed  up  by  the  Parties  with  the  utmost  diligence.

6.2     PATENT  ENFORCEMENT

6.2.1  Whenever  legal  action might be taken for infringement or challenge of a
patent  or  pending  patent  or in order to protect Intellectual Property and/or
Invention,  or  for  defense against a legal action brought for those reasons by
third  parties,  the Parties will agree on the appropriate action or response by
the  application of sound business and legal judgment.  If the parties decide to
act or to respond to third party action, any  legal and related expenses will be
fully paid by CTTC for its own account and for the account of MARINEO and DELTA.
After  deduction  by CTTC of all such legal and related expenses, any settlement
or  recovery in litigation will be divided equally  (50/50) by CTTC and MARINEO.
If  the  Parties  reasonably  disagree  on  the  appropriate  course  in  patent
litigation,  either  Party may unilaterally take the appropriate initiatives for
the  defense of patent and/or Invention and/or Intellectual properties by giving
written  notice  to  the  other  Party  and defraying the ongoing legal fees and
costs.  In  the event each Party gives notice to the other party for the defense
of  patent  and/or  Invention and/or Intellectual Properties, then MARINEO shall
have  the  exclusive right to defend patent and/or Invention and/or Intellectual
Properties.  Either  Party  that  undertakes  defense  of  patent  and Invention
pursuant  to this paragraph shall apprise the other Party of all developments in
that  action  and  of the share of legal fees and expenses that would be charged
against  the  other  Party  from  any  legal  recovery  or from other consequent
revenues.  But  whenever  a  Party's  legal  initiatives  could  result,  in the
exclusive

                                  CTTC8K5311116
<PAGE>
discretionary  judgment  of  MARINEO,  in  a  conflict between the Parties or in
jeopardy to a patent and Invention, CTTC, upon written request by MARINEO, shall
withdraw  its  own  initiative,  action  or  defense.

7.0     PAYMENTS  AND  CONSIDERATION

7.1     COLLECTION.  CTTC  shall  collect and receive in its own name all Income
hereafter  to  be  due  or accruing by reason of Licensing, litigating, or other
lawful  means of exploitation of Technology under this Agreement. Such collected
or  received  Income  will  then  be  shared  in  accordance  with  the terms of
SUBPARAGRAPH  7.2  herein.

7.2     INCOME  SHARING.  The  Income  will  be  shared after deducting from its
initial  total  any  cost  recoveries  as  provided  in SUBPARAGRAPH 7.3 herein:

7.2.1 From any and all Income described in this Agreement that is generated from
any  Technology(ies)  inserted  in  EXHIBIT  A and collected by CTTC pursuant to
sub-paragraph  3.2.4  CTTC shall remit [Confidential Information Omitted]
to MARINEO and DELTA and CTTC shall retain the remaining [Confidential
Information Omitted]; and

7.2.2  If  any  such  Income is received from any Bona Fide Licensing Candidate,
excluding any sale of a Technology, then CTTC shall remit [Confidential
Information Omitted] of said Income to MARINEO and DELTA and CTTC shall retain
the remaining [Confidential Information Omitted].

7.2.3 The Parties acknowledge the following and state their responsive course of
action  conditioned  as  follows:

A)  That  the  previous  CEO  of CTTC had executed, without consultation with or
concurrence  by  DELTA  and/or MARINEO, upon a contract with GEOMC for acts that
included  the  manufacturing  of  Calmare/Scrambler  MC-5A, which is a Scrambler
Therapy  machine;  and  that  provided  compensation to GEOMC at a rate equal to
[Confidential Information Omitted]  of  the  "Shared  sales  Profit";

B) That CTTC should use all commercially reasonable efforts and due diligence to
renegotiate  its  GEOMC  agreement  for  the benefit of CTTC and MARINEO
[Confidential Information Omitted];

C)  That GEOMC has claimed to have invested millions of United States dollars in
manufacturing  the  Products  and  also  to  have performed extensive additional
services;

D)  That  CTTC  is  willing and ready to modify the Agreement with GEOMC, and on
this  basis  both CTTC and DELTA/MARINEO agree to waive, until the expiration of
this  Agreement  or  the  modified  agreement  between CTTC and GEOMC, whichever
occurs  first,  the  application  of SUBPARAGRAPH 7.2.1 AND 7.2.2 and instead to
apply  a  revenue  sharing

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                                  CTTC8K5311117
<PAGE>
arrangement  among the Parties that will result in DELTA/MARINEO, CTTC and GEOMC
each  receiving  [Confidential Information Omitted] out of the gross sales price
that  is  customarily  charged  by  CTTC to Distributor(s). This revenue sharing
arrangement shall apply only so long as both of the following two conditions are
fulfilled:  (1)  the  gross  sales  price that is customarily charged by CTTC to
Distributor(s)  is  not  less  than  [Confidential Information Omitted] per each
Calmare/Scrambler  MC-5A  unit; (2) CTTC will execute a new or amended agreement
with  GEOMC  that  at the least will reflect GEOMC's acceptance of all necessary
changes  to  effectuate  this SUBPARAGRAPH 7.2.3. If CTTC cannot satisfy the two
conditions state in this SUBPARAGRAPH 7.2.3(D) then CTTC shall be subject to the
revenue  sharing  stated  above  in  SUBPARAGRAPH  7.2.1.

E) So long as this revenue sharing arrangement applies among CTTC, MARINEO/DELTA
and GEOMC, the division of gross sales price that is customarily charged by CTTC
to  Distributors  shall  occur  [Confidential  Information  Omitted] without any
initial  deduction  of expenses, except cost recoveries pursuant to SUBPARAGRAPH
7.3  and  unreimbursed  out-of-pocket  expenses associated with the sale such as
shipping  costs  or customs duties that are borne directly by CTTC, and not paid
or  reimbursed  by  Transferee  or  Distributor.

F) If any other manufacturer shall be contracted for the Calmare Product(s), the
Parties will negotiate according to the provisions of Section 3.  If the Parties
cannot reach a successor revenue sharing arrangement, then CTTC shall be subject
to  the  revenue  sharing  stated  above  in  SUBPARAGRAPH  7.2.1.

7.2.4      In  any  geographical  Territory  or  vertical market where CTTC also
serves  or will serve as the Distributor (meaning that no other Distributor will
be  contracted for that geographical Territory or vertical marker) as is now the
case  in  the  United  States,  then  CTTC  will  pay  the  gross sales price of
[Confidential  Information  Omitted]  per  Calmare/Scrambler  MC-5A  unit  as an
internal  transfer  price  and  the  revenue  sharing  arrangement  pursuant  to
SUBPARAGRAPH  7.2.3  shall  be  effectuated  on  the  basis.

7.2.4.1 In any such case were CTTC serves as the Distributor in any geographical
Territory  or  vertical  market,  CTTC  will  pay to DELTA/MARINEO an additional
amount  of  [Confidential  Information Omitted] per each Calmare/Scrambler MC-5A
unit  sold  and  CTTC shall retain additional sales proceeds above [Confidential
Information  Omitted]  per  Calmare/Scrambler MC-5A unit. CTTC commits also that
any  agreement  with  GEOMC  to allow it to engage in direct distribution in the
Republic of Korea ("South Korea"), Japan or any other any geographical Territory
or vertical market will include a term requiring an additional payment to as for
example  happening  in  South  Korea,  to  grant  to DELTA/MARINEO an additional
default  amount of [Confidential Information Omitted] per each Calmare/Scrambler
MC-5A  unit  sold, whilst GEOMC will retain any mark-up differential to end-user
Client.  CTTC  shall  initiate  additional  payments to DELTA/MARINEO under this
SUBPARAGRAPH  7.2.4.1  for  Calmare/Scrambler  sales  by  CTTC  as a Distributor
[Confidential  Information  Omitted] after the Effective Date of this Agreement.

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                                  CTTC8K5311118
<PAGE>
7.2.5      From  their  share  of Income, MARINEO and DELTA shall compensate any
employees  of  MARINEO  and DELTA or others claiming a portion thereof, and CTTC
shall  have  no  obligation  with  respect  thereto.

7.3     COST  RECOVERIES.     All  Income  derived  from  any  Transfer  or
Distribution Agreement, including any award by a court or any settlement amount,
or  any  other  Income stream, shall:  first, be utilized by CTTC to recover its
supported  and  reasonable  third  party  out-of-pocket expenses for the cost of
conducting  royalty  audits  in  accordance  with SUBPARAGRAPH 3.2.4; second, be
                                                                            -
utilized  by  the  Parties  hereto to recover expenses for patent defense and/or
enforcement in the proportion that expenses are paid by a single Party or shared
as  provided  under  SUBPARAGRAPH  6.2;  and third, all remaining Income will be
distributed  in  accordance  with  SUBPARAGRAPH  7.2.

7.4     With  respect  to  pending  Negotiations by CTTC during the term of this
Agreement,  if  both  MARINEO  and  DELTA  desire to terminate this Agreement in
accordance  with  SUBPARAGRAPH 8.1, then MARINEO and DELTA shall present a joint
written  notice  to  CTTC  of such desire and CTTC shall have twelve (12) months
from  the  date  of  such  written notice to conclude such pending Negotiations.
Notwithstanding  the  foregoing,  if  for  a  period  of twenty-four (24) months
following termination of this Agreement, MARINEO and/or DELTA shall consummate a
Transfer  Agreement with a Candidate Transferee or a Distribution Agreement with
a Distributor identified by CTTC during the term of this Agreement and with whom
CTTC  was  engaged  in  pending  Negotiations  during  the  term  hereof,  then:

7.4.1     if  consummated  within  the  twelve  (12)  month  period  following
termination,  CTTC  shall  be  entitled  to  its share of Income as set forth in
SUBPARAGRAPH  7.2.1 for the full term of any Transfer or Distribution Agreement,
as  though  such  Transfer or Distribution Agreement were consummated during the
term  of  this  Agreement;  or

7.4.2     if consummated within the thirteen (13) through twenty-four (24) month
period  following  termination, CTTC shall be entitled to fifty percent (50%) of
its  share of the Income as set forth in SUBPARAGRAPH 7.2.1 for the full term of
the  Transfer or Distribution Agreement, as though such Transfer or Distribution
Agreement  were  consummated  during  the  term  of  this  Agreement.

7.5     In  the  event  of termination of this Agreement, CTTC shall continue to
administer and to receive and to retain Income for the full term of any Transfer
or Distribution Agreement consummated prior to the demand for termination and as
provided  IN  SUBPARAGRAPHS  3.2.4  AND  7.2 hereof, in the amount it would have
received  and  retained  had  this  Agreement  not  been  terminated.

7.6     INCOME  DISTRIBUTION.

7.6.1     CASH INCOME.  All Income received in cash or cash equivalents by CTTC,
starting  from  January the 1st 2013 will be accumulated by CTTC and amounts due
to  MARINEO and DELTA shall be paid to MARINEO and DELTA within thirty (30) days
after each calendar quarter ending March 31, June 30, September 30, and December
31,  together with a statement of all payments and/or royalties disbursed and/or
received during the quarter under this Agreement, and with a copy of any payment
and/or  royalty  disbursement  or

                                  CTTC8K5311119
<PAGE>
receipt  accounting  provided  by  Transferees  and Distributors by their signed
dated  documents.

7.6.2     NON-CASH  INCOME.  CTTC shall notify MARINEO and DELTA within ten (10)
business  days  of  receipt  of  any  non-cash Income actually or constructively
received  by  CTTC,  including  Income  in  the  form  of  equity  (and any sale
restrictions  pertaining  thereto).  MARINEO  and DELTA shall instruct CTTC in a
signed and dated writing within ten (10) business days of receipt of such notice
whether  to  sell and/or distribute MARINEO's and DELTA's share of such non-cash
Income, and the terms under which such sale and/or distribution shall occur.  In
the  absence of such written instructions, CTTC shall assume sole responsibility
of  managing  such  non-cash Income and, at its sole discretion, distributing to
MARINEO  and DELTA their share thereof in cash, equity or any other form.  In no
event shall CTTC be responsible for any diminution in value of any such non-cash
Income  after  the date such non-cash Income is received by CTTC, EXCEPT if CTTC
had  been  receiving  the  payment  in  violation  of  SUBPARAGRAPH  1.4

7.7     BOOKS AND RECORDS.  CTTC shall keep accurate books and records of Income
received  by  it  hereunder  and of disbursements under SECTION 7.0 hereof for a
period  of  six  years, and MARINEO and DELTA shall have the right, at their own
expense, to inspect or to cause to be inspected such books and records at CTTC's
place  of  business,  upon  reasonable advance notice to CTTC, no more than once
during every twelve (12) month period for the term of this Agreement, commencing
on  the  Effective  Date.

7.8     DOCUMENT DISTRIBUTION.  CTTC will execute in triplicate the originals of
each  Transfer or Distribution Agreement with a third party so that one original
shall  be  forwarded  by  CTTC to MARINEO immediately after execution and CTTC's
receipt  of agreements with original signatures that are finally affixed amongst
the  parties  to  that  Transfer  or  Distribution  Agreement.

7.9     All  Income  described  in  SECTION  7.0  shall be denominated in United
States  Dollars ("USD").  With respect to Income received from countries outside
the  United  States, such Income shall be payable in USD at the rate of exchange
published  and  available at WWW.OANDA.COM on the last day of the calendar month
in  which  the  Income  accrues.  Payments  shall  be paid free and clear of all
foreign taxes, including withholding and turnover taxes, except such taxes which
any  Party  may  be  required  to  withhold  by a foreign country may in fact be
withheld  by  that  Party  and paid to the tax authority provided that the other
Party  hereto  can  receive  full credit for such tax payments from the Internal
Revenue  Service  of  the  United States or the other governmental tax authority
requiring withholding in accordance with the laws of the nation of the recipient
Party  who  is  to  receive  such  foreign  tax  credit.

7.10     In  calendar  years  2011  and 2012, Income payments due MARINEO and/or
DELTA  from  CTTC pursuant to this SECTION 7 will be paid by CTTC within 30 days
from  the  end  of  the  month  in  which  payment  has  been  received by CTTC.

                                  CTTC8K5311120
<PAGE>
8.0     TERM

8.1     TERM.  The  term  of  this Agreement shall be a period of five (5) years
that  commences on the Effective Date.  The term of this Agreement shall then be
automatically  renewed  for  additional  periods  of  five (5) years thereafter;
provided,  however,  that  CTTC,  on  the  one  hand,  and  MARINEO  and  DELTA,
collectively on the other hand, shall have the right to terminate this Agreement
at  the end of the initial five (5) year period, or any subsequent five (5) year
period  thereafter,  by  providing  written  notice  of termination to the other
Party(ies)  at  least  one hundred and eighty (180) days prior to the end of any
such  period.  Notwithstanding  the  expiration  of  this  Agreement  or earlier
termination as provided hereunder, the provisions hereof relating to Technology,
including:  (I)  the  right  of  CTTC to administer any Transfer or Distribution
Agreement  consummated  during the term of this Agreement, and (II) the payments
under  SECTION  7.0  of this Agreement, shall survive such expiration or earlier
termination  under  the terms of this Agreement until the expiration of the last
to  expire  of  any  patents issuing on each Technology subject to a Transfer or
Distribution  Agreement.

8.2     NON-PERFORMANCE.  If  (i)  as  to  a  newly added Technology included in
EXHIBIT  A  hereto,  after  twenty-four (24) months from the date that the newly
added  Technology  in  EXHIBIT  A is approved by the United States Food and Drug
Administration  if  applicable  or  from  the  date  that  the  newly  added
Technology(ies)  is added in EXHIBIT A if the requirement of FDA approval is not
applicable to the Technology(ies), MARINEO and DELTA collectively determine that
CTTC  is  not  engaged  in  ongoing  active  negotiations with any Transferee or
Distributor  Candidate  for that specific added Technology or CTTC has failed to
complete  a  Transfer or Distribution Agreement with a Transferee or Distributor
Candidate  within  a  period  of  thirty  (30)  months  from  the  date that the
applicable  new  Technology is added to EXHIBIT A hereto, or (ii), as applicable
only  to  the  existing  Scrambler Therapy Technology covered by this Agreement,
CTTC  has  failed  to  achieve  the  minimum  annual  volumes for units sales as
provided  in  EXHIBIT  F,  MARINEO  and DELTA collectively, upon sixty (60) days
written  notice  to  CTTC,  shall have the right to terminate CTTC's Agency with
respect  to  such Technology, and to obtain a release of rights of CTTC's Agency
for  that  Technology.  During  said sixty (60) day period, the Parties agree to
negotiate  in  good  faith  concerning  alternatives  to  such  termination.

8.2.1     If  CTTC desires to dispute the reasonableness of a such determination
made  in  accordance  with  SUBPARAGRAPH 8.2 hereinabove, and the dispute is not
settled  by  negotiation  between  the Parties, such dispute shall be settled by
arbitration  in  accordance  with  SUBPARAGRAPH  10.1  hereof.  The  demand  for
arbitration  must be made within thirty (30) days after expiration of said sixty
(60) day period referred to above in SUBPARAGRAPH 8.2.  The arbitral decision as
to  such  reasonableness  shall  be  final  and  binding  upon  the  Parties.

8.2.2     Upon  termination  of  CTTC's  Agency  for  a  Technology  under  this
Agreement,  CTTC  shall  cease  representation  of  such  Technology.

                                  CTTC8K5311121
<PAGE>
8.3

8.3.1 BANKRUPTCY.  In the event of receivership or bankruptcy of CTTC, or in the
event CTTC shall make an assignment for the benefit of creditors or shall go out
of business, this Agreement shall automatically terminate and, in such event all
right, title and interest of CTTC in and to all Technology pursuant to and under
the  terms  of this Agreement shall automatically revert to MARINEO and/or DELTA
as  applicable.  In  the  event  of  such  a  reversion, the post implementation
services  referred  to  in SUBPARAGRAPH 3.2.4 in connection with any Transfer or
Distribution  Agreement  consummated  prior  to  the  receivership,  bankruptcy,
assignment, or cessation of CTTC, shall also automatically revert to MARINEO and
DELTA  and  the Parties shall no longer have any other obligations amongst them.
CTTC  nonetheless  shall  continue to receive, from MARINEO and/or DELTA, CTTC's
share  of  Income related to the Transfer or Distribution Agreements executed by
CTTC  before  such  Technology reversion to MARINEO and DELTA referred to above,
but MARINEO and/or DELTA will be entitled to deduct from any payment due to CTTC
the  costs  and  expenses actually incurred and paid by MARINEO and DELTA in the
performance  of  post  implementation  services  to  any  former  Distributor or
Transferee  of  CTTC  under  this  Agreement.

8.3.2     In  the  event  of  the  receivership  or bankruptcy of MARINEO and/or
DELTA,  or  in  the  event MARINEO and/or DELTA shall make an assignment for the
benefit  of  creditors,  CTTC  shall  nevertheless  continue  to  provide  post
implementation  services  in  accordance with SUBPARAGRAPH 3.2.4, and to collect
Income  and  remit to MARINEO and/or DELTA their share of Income as described in
SECTION  7.0  in  the  amounts  MARINEO  and  DELTA  would have received had the
foregoing events not occurred, for the full term of any Transfer or Distribution
Agreement  consummated  prior  to  such receivership, bankruptcy, or assignment.

8.4     DEFAULT.  If  either  Party  shall  at  any  time during the term hereof
commit  any  breach  of  any material covenant or agreement contained herein and
shall  fail  to  remedy  any such breach within sixty (60) days after receipt of
written  notice  thereof by the other Party, such other Party that is the victim
of  the  default may at its option terminate this Agreement by notice in writing
to  such  effect.

8.5     SURVIVAL.  The  termination  of  this  Agreement for any cause shall not
affect  the  terms  of  any  Transfer and Distribution Agreements resulting from
CTTC's Licensing Activities hereunder and consummated by CTTC in accordance with
the  terms  of  this  Agreement.  No termination of this Agreement shall relieve
CTTC  or  its successor(s) or assigns of its/their obligation to pay MARINEO and
DELTA  their  share  of  Income  due or to become due or accrued as set forth in
SECTION 7.0 and SUBPARAGRAPH 8.3.2 hereof, or shall relieve MARINEO and DELTA of
their obligation to pay CTTC its share of Income due or to become due or accrued
as  set  forth  in SECTION 7.0 and SUBPARAGRAPH 8.3.1 and received or accrued to
MARINEO  and  DELTA  or  their  successor(s)  or  assign(s).

                                  CTTC8K5311122
<PAGE>
8.6     EXPRESS  TERMINATION  RIGHT.  The  Parties  acknowledge that, during the
effective  period  of  the  initial  SARA,  actions  were taken by a former CTTC
employee  and  others  that  were unacceptable to MARINEO.  As a result, MARINEO
reserves  the  right  to  terminate this Agreement if CTTC were to appoint or to
hire as an officer, director, consultant or employee any individual indicated by
letter  Agreement  between the Parties attached to this Agreement as Addendum A.

9.0     DISCLOSURES

9.1     PRESS RELEASES.  Either Party hereto may issue, or cause to be issued, a
press  release  (or  a  similar  announcement) that identifies the existence and
scope  of  this  Agreement.  However,  such  press release shall not include the
monetary compensation or the costs associated with this Agreement.  Either Party
hereto  may  further issue, or cause to be issued, a press release (or a similar
announcement)  that  identifies milestones related to this Agreement, including,
but  not limited to, patent issuances, court decisions, and successful Licensing
efforts.

9.1.1     If  a press release of one Party contains a trademark or trade name of
the  other  Party, then the first Party will not receive any rights from the use
thereof, implied or expressed, to use such trademark or trade name for any other
purpose.

9.2     PERMITTED DISCLOSURE. CTTC may disclose the monetary compensation or the
costs  associated  with  this  Agreement if required by federal, state, local or
other  law, or if CTTC determines in its sole discretion that such disclosure is
required  by  the  rules  or  regulations  of  the  United States Securities and
Exchange  Commission

10.0     MISCELLANEOUS

10.1     ARBITRATION.  If  a dispute between the Parties were to arise as to any
matter  hereunder  and  is  not  settled  by  good faith negotiation between the
Parties, then such dispute shall be settled by a decision rendered by a majority
of  a board of arbitration located in London, United Kingdom and operating under
international  commercial  arbitration  rules  of  the  International Centre for
Dispute Resolution (ICDR); the ICDR board of arbitration will consist (a) of one
(1)  member,  appointed  jointly by the Parties or, if the parties cannot agree,
directly  by  ICDR  under  its  selection  criteria for disputed amounts up to $
1,000,000.00;  (b)  for  disputed  amounts  above  $ 1,000,000.00 the board will
consist  of  three  (3)  members,  one of whom shall be appointed by MARINEO and
DELTA, on the one hand, and one of whom shall be appointed by CTTC, on the other
hand,  and the third, having experience in contract matters and who shall be the
chairman  of  the  panel,  shall be appointed by mutual agreement of the two (2)
arbitrators  appointed  by the Parties.  In the event of failure of said two (2)
arbitrators  to  agree,  within  sixty  (60)  days after the commencement of the
arbitration  proceeding, upon the appointment of the third arbitrator, the third
arbitrator  shall  be  appointed  by the ICDR pursuant to its selection criteria
under  the international commercial arbitration rules upon request of any of the
Members already designated by the Parties.  In the event that either Party shall
fail  to appoint an arbitrator within thirty (30) days after the commencement of
the  arbitration  proceeding,  such arbitrator and the third arbitrator shall be
appointed  by  the  ICDR  pursuant to its selection criteria under international
commercial  arbitration  rules  upon  request  of  the  Member

                                  CTTC8K5311123
<PAGE>
already  designated  by  the  other  Party.  Unless  provided  otherwise in this
Agreement or unless the arbitrators shall determine otherwise, the Parties shall
share  the cost of arbitration equally and each Party shall bear its own counsel
fees.  The  official  languages  of  the  Arbitration  will  be both English and
Italian;  provided,  however,  that the arbitrator in a single-arbitrator matter
will  be  fluent  in  English  and  at  least  two of the three Arbitrators in a
three-arbitrator  matter  will  be  fluent  in  English and that English will be
language  used in the arbitration for attorneys and witnesses fluent in English.

10.2     JURISDICTION.  This  Agreement  shall be interpreted and enforced under
the laws of the State of Connecticut and the United States and following (i) the
literal  meaning of the words used by Parties, (ii) if applicable, in a way that
could  avoid  conflict  amongst  Connecticut's  law and Italian law. The Parties
agree  that  only  ICDR  shall have jurisdiction over any dispute and consequent
arbitration  and  that any such arbitration shall be governed exclusively by the
international  commercial  arbitration  rules  of  the  ICDR.

10.3     ARBITRATION  AND LEGAL EXPENSES.  In relation to SUBPARAGRAPHS 10.1.AND
10.2,  each Party shall bear any expenses, directly or indirectly, it incurs for
legal costs or expenses (including reasonable Attorney's fees) for negotiations,
arbitration,  or  litigation. After final decision, such costs may be charged to
the  losing  party if it is determined in arbitration or by a court of competent
jurisdiction  upon  a  finding  that the Party to be charged acted in bad faith.

10.4     NOTICES.  Any notice or other communication required or permitted to be
made  to either Party hereunder shall be deemed served and delivered on the date
of  mailing  if  sent  to such Party through methods that include fax, email and
courier  requiring  a signature upon delivery at his/its address given below, or
such  other  address  as  it  shall  hereafter designate in writing, as follows:

IN THE CASE OF COMPETITIVE TECHNOLOGIES, INC.:
---------------------------------------------

SEND NOTICE TO:                            WITH A COPY TO:

Johnnie D. Johnson                         Stephen Sale
Chief Eexcutive Officer                    Sale & Quinn, P.C.
1375 Kings Highway, Suite 400              910 16th Street N.W. 5th Floor
Fairfield, CT 06824 USA                    Washington, DC  20006 USA
Tel:   203.368.6044                        Tel;  202.833.4170
Fax:  203.368.5399                         Fax: 202.887-5137
Email:   jjohnson@competitivetech.net     Email:  sscsq@aol.com

IN THE CASE OF PROFESSOR GIUSEPPE MARINEO AND DELTA RESEARCH & DEVELOPMENT:
---------------------------------------------------------------------------

SEND NOTICE TO:

Professor Giuseppe Marineo                 Avv. Giuseppe Belcastro
Delta Research & Development               Piazza Cavour 17
Via di Mezzocammino, n. 85                 00193 Rome, Italy
00127 Rome, Italy

                                  CTTC8K5311124
<PAGE>
WITH A COPY TO:

[to be completed the MARINEO and DELTA as desired]

10.5     ASSIGNMENT.     This Agreement shall be binding upon and shall inure to
the benefit of the successors and assigns of MARINEO and DELTA and CTTC, but
CTTC shall not assign or transfer this Agreement and/or its duties hereunder
without the prior written consent of MARINEO and/or DELTA. MARINEO and/or DELTA
may assign this Agreement with thirty (30) days' prior notice to CTTC; provided
that any such assignee shall not be a manufacturer, distributor, marketer,
seller, or any other individual or entity that is a competitor of CTTC, unless
specifically authorized in writing by CTTC.

10.6     SEVERABILITY.  If  any  provision of this Agreement is found by a court
of  competent  jurisdiction  or  arbitration  panel  to be invalid or void, such
provision, to the extent possible, shall be severed from this Agreement, and all
of  the  other  provisions  shall  remain  in  effect.

10.7     INTEGRATION.   Other  than  as  set forth in SUBPARAGRAPH 10.16 herein,
this  Agreement  expresses  the full contract between the Parties, and all other
prior  or  contemporaneous  oral  or  written  representations  with  regard  to
Technologies  shall  be  of  no effect.  This Agreement may be amended only by a
subsequent  dated  and  signed  written  agreement  duly  executed  on behalf of
MARINEO,  DELTA  and  CTTC.

10.8     HEADINGS,  NUMBER AND GENDER.  The headings of the several sections are
inserted  for  convenience of reference only, and are not intended to be part of
or  to  affect  the  meaning  or  interpretation  of  this  Agreement.  In  this
Agreement,  where the context so requires or permits, the singular shall include
the  plural  and vice versa, and references to a particular gender shall include
the  other  genders.

10.9     NO  WAIVER.  Failure  by  any  Party  to  enforce any provision of this
Agreement or to assert a claim on account of breach of contract hereof shall not
be  deemed  a  waiver  of  its  right to enforce the same or any other provision
hereof  on  the  occasion  of  a  subsequent  breach.

10.10     REMEDIES.  The  remedies  provided in this Agreement are not and shall
not  be  deemed  to  be exclusive and shall be in addition to any other remedies
that  any  Party  may  have  at  law  or  in  equity.

10.11     INDEPENDENT PARTIES.  The Parties hereto are independent of each other
and are not and shall not be considered as joint venturers, partners, employers,
or  employees  of  each  other  and  no Party shall have the power to bind or to
obligate  the  other  except  as  explicitly set forth in this Agreement.  In no
event  shall  MARINEO,  DELTA,  or  CTTC  be  liable  to the other Party for any
consequential,  incidental,  indirect,  or  special  damages,  however  caused,
including  any  and  all claims for taxes, fees, or costs, except when otherwise
provided  in  this  Agreement.
In  no  event shall MARINEO, DELTA or CTTC be liable to the other Party due to a
Transferee's  or  Distributor's non-performance or other breach of a Transfer or
Distribution  Agreement  except  when  otherwise  provided  in  this  Agreement.

                                  CTTC8K5311125
<PAGE>
10.12     FORCE MAJEURE.  No Party hereto shall be liable in damages or have the
right  to cancel this Agreement for any delay or default in performing hereunder
if  such  delay or default is caused by conditions beyond its control, including
but not limited to acts of God, government restrictions, wars, or insurrections.

10.13     EXECUTION.  This  Agreement will not be binding upon the Parties until
it has been duly executed by or on behalf of each Party, in which event it shall
be  effective  on the Effective Date. No waiver, amendment or other modification
hereof  shall  be  valid  or binding upon the Parties unless made in writing and
duly  executed  by  an  authorized  representative  of  both  Parties.

10.14     COUNTERPARTS.  This Agreement may be executed in two (2) counterparts,
each  of  which  shall  be  deemed  an original, but all of which together shall
constitute  one and the same instrument.  Delivery of an executed counterpart of
this Agreement by facsimile or by email attaching a signed pdf version, shall be
equally  effective  as  delivery  of  an  original  executed counterpart of this
Agreement.  Parties  agree  that a print-out of that signed pdf version, of this
Agreement  shall have the same effect, and shall be fully binding on the parties
in  the  same  fashion,  as  the  document  with  original signatures, provided,
however,  that  either  Party  will provide a signed original to the other Party
upon  request.

10.15     AUTHORIZED  SIGNATORIES.  The  undersigned  individuals each represent
and  warrant that they have the authority to execute this Agreement on behalf of
their  respective  companies.

10.16     CONFIDENTIAL  INFORMATION.  In  order  to  allow  CTTC  to perform its
duties  hereunder,  the Parties will execute a Confidential Disclosure Agreement
("CDA")  on  even  date  herewith,  provided that an applicable CDA has not been
previously  executed.  The  terms  of  either  such  CDA  (other than provisions
contained  therein  regarding the term of such CDA) shall govern the handling of
Confidential Information (as defined in the CDA) pertaining to or resulting from
this  Agreement.

10.17  ENTIRE  UNDERSTANDING.  The  present  Agreement  contains  the  entire
understanding  of  the  Parties relating to the subject matter and superseded an
prior  written  or  oral  agreement  amongst  the  parties.

                                  CTTC8K5311126
<PAGE>
IN  WITNESS  WHEREOF,  the Parties hereto have executed this Agreement as of the
dates  shown  below.

FOR COMPETITIVE TECHNOLOGIES, INC.   FOR PROFESSOR GIUSEPPE MARINEO

BY:                                  BY:
    -------------------------------      --------------------------
NAME: JOHNNIE D. JOHNSON             NAME: GIUSEPPE MARINEO
TITLE:CHIEF EXECUTIVE OFFICER        TITLE: PROFESSOR

DATE:                                DATE:
      -----------------------------        ------------------------

FOR DELTA RESEARCH & DEVELOPMENT
     DELTA R&D S.R.L.
     (L'AMMINISTRATORE)

BY:
    -------------------------------
NAME: GIUSEPPE MARINEO
TITLE: PARTNER

DATE:
      -----------------------------

                                  CTTC8K5311127
<PAGE>
                                   EXHIBIT A

                               SUBJECT TECHNOLOGY

I.     SCRAMBLER THERAPIES AND ITS USE IN PAIN MANAGEMENT

A.     Patents:
       -------

Italian Patent N. 0001324899  (02/12/04)
Neurone Artificiale Per La Sintesi Di Neuroinformazioni "Scrambler" Veicolate
Nel Sistema Nervoso Mediante Modulazione Di Elettropotenziali
(Inventor:     Marineo, Giuseppe)

B.     Patent  Applications:
       --------------------

ITRM20010160 A1     2002-09-26     (Publication Information)
Neurone Artificiale Per La Sintesi Di Neuroinformazioni "Scrambler" Veicolate
Nel Sistema Nervoso Mediante Modulazione Di Elettropotenziali
(Inventor:     Marineo, Giuseppe)

PCT/IT2007 000647          18 September 2007 (filed)
International Publication Number     WO 2009/037721 Al     26 March 2009
(published)
Apparatus and method for quick pain suppression
(Inventor:     Marineo, Giuseppe)

PCT/IT2010/00457     16 November 2010 (filed)
Apparatus and method for rapid suppression of neuropathic, oncological, and
pediatric pain, resistant to opiates and to conventional electro-analgesia

C.     Other  Intellectual  Property:     Know-how,  show-how,  etc.
       -----------------------------

D.     CTTC's Agency and Territory:  Exclusive and Worldwide
       ---------------------------

               EXHIBIT A TO SERVICE AND REPRESENTATION AGREEMENT
               -------------------------------------------------

                                  CTTC8K5311128
<PAGE>
                                   EXHIBIT B

                         BONA FIDE LICENSING CANDIDATES

                                      NONE

               EXHIBIT B TO SERVICE AND REPRESENTATION AGREEMENT
               -------------------------------------------------

                                  CTTC8K5311129
<PAGE>

                                   EXHIBIT C

                FORM OF SCHEDULE FOR ADDED/DELETED TECHNOLOGIES

Pursuant  to  SUBPARAGRAPH  1.1  of  that  certain  Service  and  Representation
Agreement  between  COMPETITIVE  TECHNOLOGIES,  INC. (hereinafter referred to as
"CTTC"),  a  Delaware  corporation  having  a  place  of  business at 1375 Kings
Highway, Suite 400, Fairfield, CT 06824  USA, and Professor Giuseppe Marineo, an
individual  having  an  address  at  Delta  Research  &  Development,  Via  di
Mezzocammino,  N.  85,  00127  Rome,  Italy  and Delta Research & Development, a
partnership  organized  under  the laws of Italy and having an address at Via di
Mezzocammino,  N.  85, 00127  Rome, Italy, the following Technologies are hereby
added  to  EXHIBIT  A  of  the  Agreement,  effective  as  of  July  25,  2007:

ADDED TECHNOLOGIES:

[  ].     [TITLE OF TECHNOLOGY]

A.     Patents:  Country,  patent  no.,  issue  date,  expiration  date
       -------

B.     Patent  Applications:  Title, country, serial no., filing date, inventors
       --------------------

C.     Other  Intellectual  Property:
       -----------------------------

D.     CTTC's Agency and Territory:  Exclusive and Worldwide
       ---------------------------

Pursuant to SUBPARAGRAPH 1.1.2 of the Agreement, the following Technologies are
hereby deleted from EXHIBIT A of the Agreement:

DELETED TECHNOLOGIES:

[  ].     [TITLE OF TECHNOLOGY]

A.     Patents:  Country,  patent  no.,  issue  date,  expiration  date
       -------

B.     Patent  Applications:  Title, country, serial no., filing date, inventors
       --------------------

C.     Other  Intellectual  Property:
       -----------------------------

D.     CTTC's Agency and Territory:  Exclusive and Worldwide
       ---------------------------

                                  CTTC8K5311130
<PAGE>

IN  WITNESS  WHEREOF,  the Parties hereto have executed this Agreement as of the
dates  shown  below.

FOR COMPETITIVE TECHNOLOGIES, INC.   FOR PROFESSOR GIUSEPPE MARINEO

BY:                                  BY:
    -------------------------------      --------------------------
NAME: JOHNNIE D. JOHNSON             NAME: GIUSEPPE MARINEO
TITLE:CHIEF EXECUTIVE OFFICER        TITLE: PROFESSOR

DATE:                                DATE:
      -----------------------------        ------------------------

FOR DELTA RESEARCH & DEVELOPMENT
     DELTA R&D S.R.L.
     (L'AMMINISTRATORE)

BY:
    -------------------------------
NAME: GIUSEPPE MARINEO
TITLE: PARTNER

DATE:
      -----------------------------

                                  CTTC8K5311131
<PAGE>

                                   EXHIBIT D

                               PRE-EXISTING USERS

1) Fondazione PTV POLICLINICO TOR VERGATA, Viale Oxford, 81 - 00133 Roma

2) FONDAZIONE I.R.C.C.S. OSPEDALE MAGGIORE POLICLINICO,MANGIAGALLI E REGINA
ELENA, Via F. Sforza, 28 - 20122 MILANO

3) Casa di Cura accreditata SSN Villa Tiberia, Via Emilio Praga 26 -
00137Roma

               EXHIBIT D TO SERVICE AND REPRESENTATION AGREEMENT
               -------------------------------------------------

                                  CTTC8K5311132
<PAGE>
                                     ------
                                   EXHIBIT E
        PARAMETERS FOR TRANSFEREES AND DISTRIBUTORS (PER PARAGRAPH 3.1)

PRELIMINARY ASSUMPTION:
Any  Candidate,  Transferee  or  Distributor,  must guarantee that it will fully
respect  the  Confidentiality of sensitive information and ensure the protection
of  any  Patent and/or Industrial trade secret related to the Technology(ies) to
be  licensed  or  incorporated  in  the  Products(s)  distributed.

TRANSFEREES:

The  Parameters  will  be jointly established, time by time, by and between CTTC
--------------------------------------------------------------------------------
and MARINEO and/or DELTA based on the type of Technology(ies) assigned, the type
--------------------------------------------------------------------------------
of  activity  to  be  performed  and  the  specifics of the Candidate Transferee
--------------------------------------------------------------------------------

DISTRIBUTORS:

The Distributors will be jointly validated by CTTC and Prof. MARINEO and/or
---------------------------------------------------------------------------
DELTA, by application of these operative guidelines:
----------------------------------------------------

Distributor should

1)      already operate in the Market and/or Market segment for the
Technology(ies) to be incorporated in the Products(s) distributed;
2)     lack any major conflict of interest in the distribution of Products
incorporating the Technology(ies)(provided, however, that the distribution of
other medical devices shall not, in and of itself, be a disqualifying factor);
3)     not operate as an entity financially speculating in the Products
incorporating the Technology(ies);
4)     possess expertise and know-how in therapeutic medical devices  or in
similar Markets and/or Segments;
5)     have sufficient organizational and economic capabilities actively to sell
Products incorporating the Technology(ies) throughout the assigned Market;
6)     demonstrating creditworthiness, directly or indirectly, to ensure on-time
payments;  and
7)     commit  to  the  mandatory  requirement  to  refrain  from appointment or
hiring  as an officer, director, consultant or employee any individual indicated
by  letter  Agreement between the Parties attached to this Agreement as Addendum
A.

               EXHIBIT  E TO SERVICE AND REPRESENTATION AGREEMENT
               --------------------------------------------------

                                  CTTC8K5311133
<PAGE>
                                     ------
               EXHIBIT  F TO SERVICE AND REPRESENTATION AGREEMENT
               --------------------------------------------------

                    EXHIBIT F (referred to subparagraph 8.2)
          ANNUAL MINIMUM VOLUMES FOR UNITS SALES PER SUCH TECHNOLOGIES

TECHNOLOGY:

F.1  SCRAMBLER  THERAPY

Fiscal  Year (regardless of Effective Start Date)     Minimum nr. of units to be
-------------------------------------------------     --------------------------
purchased
---------

2011                                   [Confidential Information Omitted]
----                                   ----------------------------------
2012                                   [Confidential Information Omitted]
----                                   ----------------------------------
2013                                   [Confidential Information Omitted]
----                                   ----------------------------------
2014                                   [Confidential Information Omitted]
----                                   ----------------------------------
2015                                   [Confidential Information Omitted]
----                                   ----------------------------------

ANY SURPLUS AGAINST A MINIMUM IN ONE YEAR CAN BE USED TO MEET ANY MINIMUM IN ANY
--------------------------------------------------------------------------------
SUCCEEDING YEAR.
----------------

               EXHIBIT  F TO SERVICE AND REPRESENTATION AGREEMENT
               --------------------------------------------------

      **Information on this page has been omitted pursuant to Rule 24b-2**

                                  CTTC8K5311134
<PAGE>
                   EXHIBIT G (referred to subparagraph 3.1.6)
                        TECHNICAL ASSISTANCE PROCEDURES

TECHNOLOGY:

G.1  SCRAMBLER  THERAPY

1.     The  Distributor is not authorized to perform "any" internal servicing of
the  Calmare  medical  device,  specifically,  Model  MC'-5A  and future Calmare
devices,  unless  trained  certified and authorized by Competitive Technologies,
Inc.
2.     All  internal  servicing  of  the Model MC'-5A and future Calmare devices
will  be  performed  exclusively  by  the  manufacturer.
3.     All  devices  requiring  warranty  service  will  be  returned  to  the
manufacturer  as  described  in  the  Warranty  document.
4.     In  all  cases  the  sender  pays  for  shipment  of  the  device  to the
manufacturer  requiring  repairs.
5.     If  device  is determined to be defective during the Warranty period then
Distributor  will  replace  defective  device  with  new  device  from  its  own
inventory,  return  the defective device to the manufacturer and upon receipt of
the  defective  device  the  manufacturer  will send a new device to replacement
device  from  the  distributor's  inventory.
6.     If  Distributor  has  no devices available in inventory, then Distributor
will  notify  Competitive Technologies, Inc. the Distributor will simultaneously
return  defective  device to CTTC and CTTC will send a loaner replacement device
until  the  defective  device  is  repaired/replaced  by  the  manufacturer  and
returned.
7.     The manufacturer will make a best effort to repair or replace and prepare
the repaired or replacement device for return to the distributor within fourteen
(14)  days  of  receipt  of  the  defective  device.
8.     In  the future this process may be modified with ninety (90) days notice.
9.     Upon expiration of the Warranty CTTC offers the distributor the option of
additional  technical assistance and repairs for [Confidential Information
Omitted] per year per sold device. This is payable at the beginning of each year
after the Warranty expires.

               EXHIBIT  G TO SERVICE AND REPRESENTATION AGREEMENT
               --------------------------------------------------

      **Information on this page has been omitted pursuant to Rule 24b-2**

                                  CTTC8K5311135ex10_3-2.htm

Exhibit 10.3.2

 

AMENDED AND RESTATED

PERFORMANCE AGREEMENT

Between

FRISCO ECONOMIC DEVELOPMENT CORPORATION

And

OXYSURE SYSTEMS, INCORPORATED

 

This Amended and Restated Performance Agreement (the “Agreement”) is made and entered into by and between the Frisco Economic Development Corporation, (the “FEDC”), a Texas corporation organized and existing under Chapter 501 and 504 of the Texas Local Government Code, known as the Development Corporation Act, as amended from time to time (the “Act”) and OxySure Systems, Incorporated, a Delaware corporation (the “COMPANY”).

 

RECITALS

WHEREAS, COMPANY has previously entered into that certain Performance Agreement dated April 3, 2007, by the terms of which the COMPANY executed and delivered to the FEDC a Promissory Note in the principal amount of $243,000.00 dated April 3, 2007, wherein the FEDC agreed to provide economic assistance in the form of a loan for the construction of improvements related to COMPANY’s expansion of its corporate headquarters (the “Improvements”); and

WHEREAS, the loan was fully funded by the FEDC, the proceeds of which were used to construct the Improvements.  The COMPANY was entitled to receive economic incentives in the form of credits against the balance of the Promissory Note; and

 

WHEREAS, the COMPANY satisfied a portion of the performance criteria to earn the economic incentives, resulting in a credit of $30,000.00, leaving a balance thereof of $213,000.00; and

 

WHEREAS, the parties have agreed to amend and restate the Performance Agreement to provide for revised economic incentives and performance criteria, along with the renewal and extension of the original Promissory Note; and

 

WHEREAS, FEDC has agreed to provide an economic incentive in the form of a renewal and extension of the loan, the re-payment of which may be forgiven, provided the COMPANY shall meet certain performance requirements as specified herein; and

 

WHEREAS, the Project will create “primary jobs”, as that term is defined in the Act, being a job available at a company for which a majority of the products or services of the company are ultimately exported to regional, statewide, national or international markets; and

 

WHEREAS, primary jobs created by the Project falls within the North American Industry Classification System (NAICS) Sector No. 551; and

  

PERFORMANCE AGREEMENT - Page 1 of 14

  

WHEREAS, the FEDC has determined that it is in the best interest of the public and the City and promotes the purposes authorized by the voters of the City of Frisco for which the FEDC was established to encourage the development and use of industrial and business properties within the City; and

WHEREAS, the FEDC is willing to provide the Company with economic assistance hereinafter set forth on the terms and subject to the conditions as stated herein and Company is willing to accept the same subject to all terms and conditions contained in this Agreement.

NOW, THEREFORE, for and in consideration of the promises, covenants and agreements set forth herein, the receipt and sufficiency of which are hereby acknowledged, the FEDC and Company agree as follows:

	
  

	
I.

	
Economic Assistance.  Subject to the terms of this Agreement, the FEDC will provide COMPANY economic assistance in the form of the renewal and extension of the forgivable loan together with performance credits.  The performance credits will be credited according to the criteria set forth herein.  COMPANY shall provide documentation in a format acceptable to the FEDC of compliance with the performance requirements as defined below:

	
  

	
A.

	
Loan – FEDC shall provide COMPANY economic assistance in the form of a renewal and extension loan in the amount of Two Hundred Thirteen Thousand Dollars ($213,000.00) (the “Loan”).  The renewal and extension of the Loan shall be evidenced by a promissory note, in the form attached hereto as Exhibit “A” (the “Note”), to be executed by COMPANY and payable to the FEDC, bearing no interest, payable as set forth therein;

	
  

	
B.

	
Lease Agreement – COMPANY shall enter into a lease agreement (the “Lease”) whereby COMPANY shall lease not less than 16,200 rentable square feet of space in the City for a period not less than sixty (60) months.

	
  

	
C.

	
Performance Credits – COMPANY shall receive performance credits in the form of a loan forgiveness (the “Economic Incentive”) for a portion of its obligations under the Note and the Lease over the term of the Note and the Lease as set forth in the schedule below.

	
  

	
D.

	
Performance Requirements for Advance of the Loan Proceeds:

	
  

	
(a)

	
COMPANY shall execute and deliver to the FEDC the Note;  and

  

PERFORMANCE AGREEMENT - Page 2 of 14

  

	
  

	
(b)

	
COMPANY shall execute the Lease and shall provide an executed copy to the FEDC.

	
  

	
II.

	
Performance Requirements for Economic Incentives:

Upon the COMPANY providing documentation reasonably satisfactory to the FEDC that it has met the qualifications, conditions, and requirements set forth below (the “Performance Requirements”), the COMPANY shall receive the following Economic Incentives:

A.         Economic Incentive and Performance Requirements Schedule:

	
Economic Incentive

Number

	
Full-Time Employees

	
Square Feet Occupied

	
Business

Personal

Property

Value       Value

	
Community Product Donation Program Value

	
Maximum

Economic

Loan Forgiveness

	
Total Maximum

Economic

Loan Forgiveness

	
Economic

Incentive

Eligibility

 Period

	
1

	
14

	
16,200

	
$125,000

	
$12,000

	
$26,000

	
$26,000

	
Dec. 1, 2011

	
2

	
27

	
16,200

	  	
$12,000

	
$39,000

	
$65,000

	
Dec. 1, 2012

	
3

	
32

	
16,200

	  	
$12,000

	
$44,000

	
$109,000

	
Dec. 1, 2013

	
4

	
40

	
16,200

	  	
$12,000

	
$52,000

	
$161,000

	
Dec. 1, 2014

	
5

	
50

	
16,200

	  	
$2,000

	
$52,000

	
$213,000

	
Dec. 1, 2015

 

The Expiration Date for each Economic Incentive is December 1 of each calendar year during the term of the Performance Agreement beginning December 1, 2011.

	
  

	
B.

	
Requirements for each Economic Incentive:

	
  

	 

	
  

	
1.

	
An Economic Incentive in the amount of $26,000.00 shall be provided to COMPANY in the form of forgiveness of a portion of the Loan in the amount of $26,000.00 upon completion of the following Performance Requirements for Incentive No. 1:

	
  

	
(a)

	
Documentation of an executed Lease for at least 16,200 rentable square feet of office space in the City for a term of not less than sixty (60) months on or before December 1, 2011; and

 

	
  

	
(b)

	
Documentation of taxable business and personal property in the City with a taxable value of at least One Hundred Twenty-Five Thousand Dollars ($125,000.00); and

 

	
  

	
(c)

	
Documentation that the COMPANY has created, staffed and maintained employment of at least fourteen (14) full-time employees in the City on or before December 1, 2011; and

 

  

PERFORMANCE AGREEMENT - Page 3 of 14

  

	
  

	
(d)

	
Documentation that the COMPANY has donated and installed three (3) AED/OxySure combination -packs to include Physio-Control Lifepak CR Plus (Automatic) AEDs, including wall brackets and wall signs, and OxySure device units, including wallboxes, signs, replacement cartridges and ancillary items or costs, valued at approximately Ten Thousand Dollars ($10,000.00), in public facilities as directed by the City; and

 

	
  

	
(e)

	
Documentation that the COMPANY has donated and installed two (2) OxySure device units, including wallboxes, signs, replacement cartridges and ancillary items or costs, valued at approximately Two Thousand Dollars ($2,000.00), in public facilities as directed by the City’s facilities manager; and

 

	
  

	
(f)

	
Submit Performance Documentation must as required in Article V, General Provisions, b.

 

	
  

	
2.

	
An Economic Incentive in the amount of $39,000.00 shall be provided to COMPANY in the form of forgiveness of a portion of the Loan in the amount of $39,000.00 upon completion of the following Performance Requirements for Incentive No. 2:

	
  

	
(a)

	
Documentation of continuous occupancy of leased office space of at least 16,200 rentable square feet of office space in the City; and

 

	
  

	
(b)

	
Documentation that the COMPANY has created, staffed and maintained an employment of at least twenty-seven (27) full-time employees in the City on or before December 1, 2012; and

 

	
  

	
(c)

	
Documentation that the COMPANY has donated and installed an additional three (3) AED/OxySure combination -packs to include Physio-Control Lifepak CR Plus (Automatic) AEDs, including wall brackets and wall signs, and OxySure device units, including wallboxes, signs, replacement cartridges and ancillary items or costs, valued at approximately Ten Thousand Dollars ($10,000.00), in public facilities as directed by the City; and

 

	
  

	
(d)

	
Documentation that the COMPANY has donated and installed an additional two (2) OxySure device units, including wallboxes, signs, replacement cartridges and ancillary items or costs, valued at approximately Two Thousand Dollars ($2,000.00), in public facilities as directed by the City’s facilities manager; and

 

  

PERFORMANCE AGREEMENT - Page 4 of 14

  

	
  

	
(e)

	
Submit Performance Documentation must as required in Article V, General Provisions, b.

 

	
  

	
3.

	
An Economic Incentive in the amount of $44,000.00 shall be provided to COMPANY in the form of forgiveness of a portion of the Loan in the amount of $44,000.00 upon completion of the following Performance Requirements for Incentive No. 3:

	
  

	
(a)

	
Documentation of continuous occupancy of leased office space of at least 16,200 rentable square feet of office space; and

 

	
  

	
(b)

	
Documentation that the COMPANY has created, staffed and maintained an employment of at least thirty-two (32) full-time employees in the City on or before December 1, 2013; and

 

	
  

	
(c)

	
Documentation that the COMPANY has donated and installed an additional three (3) AED/OxySure combination -packs to include Physio-Control Lifepak CR Plus (Automatic) AEDs, including wall brackets and wall signs, and OxySure device units, including wallboxes, signs, replacement cartridges and ancillary items or costs, valued at approximately Ten Thousand Dollars ($10,000.00), in public facilities as directed by the City; and

 

	
  

	
(d)

	
Documentation that the COMPANY has donated and installed an additional two (2) OxySure device units, including wallboxes, signs, replacement cartridges and ancillary items or costs, valued at approximately Two Thousand Dollars ($2,000.00), in public facilities as directed by the City’s facilities manager; and

 

	
  

	
(e)

	
Submit Performance Documentation must as required in Article V, General Provisions, b.

	
  

	
4.

	
An Economic Incentive in the amount of $52,000.00 shall be provided to COMPANY in the form of forgiveness of a portion of the Loan in the amount of $52,000.00 upon completion of the following Performance Requirements for Incentive No. 4:

	
  

	
(a)

	
Documentation of continuous occupancy of leased office space of at least 16,200 rentable square feet of space; and

 

	
  

	
(b)

	
Documentation that the COMPANY has created, staffed and maintained an employment of at least forty (40) full-time employees in the City on or before December 1, 2014; and

 

  

PERFORMANCE AGREEMENT - Page 5 of 14

  

	
  

	
(c)

	
Documentation that the COMPANY has donated and installed an additional three (3) AED/OxySure combination -packs to include Physio-Control Lifepak CR Plus (Automatic) AEDs, including wall brackets and wall signs, and OxySure device units, including wallboxes, signs, replacement cartridges and ancillary items or costs, valued at approximately Ten Thousand Dollars ($10,000.00), in public facilities as directed by the City; and

 

	
  

	
(d)

	
Documentation that the COMPANY has donated and installed an additional two (2) OxySure device units, including wallboxes, signs, replacement cartridges and ancillary items or costs, valued at approximately Two Thousand Dollars ($2,000.00), in public facilities as directed by the City’s facilities manager; and

 

	
  

	
(e)

	
Submit Performance Documentation must as required in Article V, General Provisions, b.

	
  

	
5.

	
An Economic Incentive in the amount of $52,000.00 will be provided to COMPANY in the form of forgiveness of a portion of the Loan in the amount of $52,000.00 upon completion of the following Performance Requirements for Incentive No. 5:

	
  

	
(a)

	
Documentation of continuous occupancy of leased office space of at least 16,200 rentable square feet of space; and

 

	
  

	
(b)

	
Documentation that the COMPANY has created, staffed and maintained an employment of at least fifty (50) full-time employees in the City on or before December 1, 2015; and

 

	
  

	
(c)

	
Documentation that the COMPANY has donated and installed an additional two (2) OxySure device units, including wallboxes, signs, replacement cartridges and ancillary items or costs, valued at approximately Two Thousand Dollars ($2,000.00), in public facilities as directed by the City’s facilities manager; and

 

	
  

	
(d)

	
Submit Performance Documentation must as required in Article V, General Provisions, b.

 

For the purposes of this Agreement, “rentable square feet” is defined as the actual square footage in the premises that is leased by the Company.

  

PERFORMANCE AGREEMENT - Page 6 of 14

  

For purposes of this Agreement, occupancy shall be deemed to be “continuous” if the occupancy isn’t abandoned (with evidence thereof) and fixtures are not removed from the property for a period of longer than ninety (90) days, except that vacation of the premises due to acts of God, war, weather, or terrorism shall not be deemed to be abandonments of the premises.

For the purposes of this Agreement, “Business Personal Property” refers to furniture, fixtures, equipment, machinery, merchandise, materials, and all other personal property owned and/or leased by the Company and used in the Company’s business which is taxable as determined by the appropriate County Appraisal District.

For the purposes of this Agreement, a “full-time employee” is defined as an employee hired to work a minimum of Two Thousand Eighty (2,080) hours of work over a twelve (12) month term [forty (40) hours per week], including allowance for vacation and sick leave, with full company benefits and employed exclusively and on-site at the Company’s Project in the City of Frisco, Texas.  Part-time employees whether permanent or temporary, transient or contract employees shall NOT be included in determining the Company’s total number of “full-time” employees.

	
III.

	
FEDC Recapture of Economic Incentives.  In the event the COMPANY moves a portion or all of the Project outside the City, for any reason, before the expiration of the sixty (60) month lease term, the COMPANY agrees to pay the FEDC the Loan balance in one lump sum payment within thirty (30) days of the COMPANY’s decision to relocate and/or expand outside the City. Provided, however, that if the Company is in compliance with the Performance Requirements as specified in Section II herein, this Section III shall not apply.  During the term of this Agreement and prior to any decision by the COMPANY to relocate and/or expand outside the City of Frisco, the Company will contact the FEDC staff to evaluate any and all opportunities to retain and/or locate a portion or all of the Project and/or expansion in the City of Frisco, Texas.

	
IV.

	
FEDC Loan Forgiveness of Promissory Note.  Upon the FEDC’s receipt of the COMPANY’s performance documentation for each Economic Incentive, the FEDC Economic Incentive in the form of a Loan forgiveness will be forgiven in approximately forty-five (45) days, subject to verification by the FEDC that the COMPANY has met the Performance Requirements as specified in the Agreement for the applicable Economic Incentive.

 

	
V.

	
General Provisions.

	
  

	
a.

	
Term of the Agreement.  The term of this Agreement shall begin on the date of execution by the FEDC and will expire the earlier of (i) the full payment of the Economic Incentives, or (ii) on March 31, 2016, or as otherwise provided within this Agreement.

  

PERFORMANCE AGREEMENT - Page 7 of 14

  

	
  

	
b.

	
Submittal of Performance Documentation.  Certificates of Compliance (Exhibit “B”) and supporting documents must be submitted in a format acceptable to the FEDC not more than thirty (30) days from the Expiration Date for each Economic Incentive.

	
  

	
c.

	
Verification and Compliance.  The Company will certify and provide, to the extent necessary, Company records, documents, agreements, construction contracts both at the prime and sub-contractor level, and other instruments in furtherance of the following purposes:  (i) to insure Company’s compliance with the affirmative covenants as set forth within the Performance Agreement; (ii) to determine the existence of an Event of Default; (iii) to insure compliance with any terms or conditions set forth in the Agreement or related documents.  Company will provide reports certifying the status of compliance, new jobs created, new investments, sales/use taxes paid to any/all vendors or directly to the Texas Comptroller of Public Accounts and any other relevant information until the termination of the Agreement.  Documentation for jobs may be in the form of quarterly IRS 941 returns, Texas Workforce Commission Quarterly Unemployment Summary, or employee rosters that show the hours of work and the position filled and such other reports as may reasonably be required.   Documentation for taxable real or business personal property may include the Company providing their Property Value Information Certification form from the “appropriate” County Appraisal District for the City of Frisco, Texas.  Documentation for sales/use tax payments may be copies of sales/use tax returns and/or vendor billings and payments.

	
  

	
d.

	
Non-Attainment of Performance Requirements.  In the event the Company does not meet or exceed the Performance Requirements as specified in Section II, the FEDC Economic Incentive will be either voided or reduced at the sole discretion of the FEDC Board of Directors.  After the expiration date of an Eligibility Period, the Company will not be eligible to receive any portion of an Economic Incentive.  Regardless of Company’s failure to meet the Performance Requirements for a specific Economic Incentive, this agreement shall still be in effect and the Company shall still have the ability to earn the remaining Economic Incentives due hereunder.

	
  

	
e.

	
Employee Hiring, Materials and Supplies Purchase.  Although not an event of default or a condition to this Agreement, FEDC requests that the Company satisfies its need for all additional employees from Frisco residents and purchase all materials, supplies and services necessary to affect the occupancy of the leased office space from Frisco merchants and businesses.  The Company will use reasonable efforts to place Company-managed hotel room nights, related to the Company’s business, at hotel facilities located in the City whenever practicable.

	
  

	
f.

	
Community Involvement.  Although not an event of default or condition of any advance hereunder, the Company agrees to actively participate in community and charitable organizations and/or activities, the purpose of which are to improve the quality of life in the City of Frisco, Texas, and to actively encourage its employees to be involved in such organizations and/or activities.

  

PERFORMANCE AGREEMENT - Page 8 of 14

  

	
  

	
g.

	
Non-Payment of Economic Incentives.  Notwithstanding anything herein to the contrary, FEDC shall have no obligation to pay any of the Economic Incentives if the Company becomes insolvent, makes false statements, fails to pay municipal payments or files suit against the City and/or the FEDC, or otherwise defaults under the terms of this Agreement.

	
  

	
h.

	
Notification Obligations.  The Company shall notify the FEDC in writing of any material changes in the Company ownership or management within thirty (30) days of any such change.

	
  

	
i.

	
Termination of Economic Assistance.  This Agreement may be terminated by mutual written consent of the parties or by either party, upon the failure of the other party to fulfill an obligation as set forth in this Agreement.  Regardless of Company’s level of attainment of the Performance Requirements as set forth in this Agreement, the FEDC’s obligation to pay a portion or all of the Economic Incentives to the Company will expire thirty (30) days following the Eligibility Period of the last Economic Incentive, except in the event that the Company has fully complied with the Performance Requirements for such unpaid Economic Incentives, including reasonable compliance with the documentation requirements set forth herein.

	
VI.

	
Miscellaneous.

 

	
  

	
A.

	
This Agreement shall inure to the benefit of the parties hereto and shall not be assignable by COMPANY without the prior written consent of the FEDC, which consent may be withheld by the FEDC in its sole and absolute discretion.

 

	
  

	
B.

	
This Agreement shall be construed according to the laws of the State of Texas and is subject to all provisions of the Act, which are incorporated herein by reference for all purposes.  In the event any provision of the Agreement is in conflict with the Act, the Act shall prevail.

 

	
  

	
C.

	
This Agreement contains the entire agreement of the parties regarding the within subject matter and may only be amended or revoked by the written agreement executed by all of the parties hereto.

 

	
  

	
D.

	
This Agreement shall be governed by the laws of the State of Texas and is specifically performable in Collin County, Texas.

 

	
  

	
E.

	
Any notice required or permitted to be given under this agreement shall be deemed delivered by depositing the same in the United States mail, certified with return receipt requested, postage prepaid, addressed to the appropriate party at the following addresses, or at such other address as any part hereto might specify in writing:

 

  

PERFORMANCE AGREEMENT - Page 9 of 14

  

	
FEDC:

	
James L. Gandy, CEcD, CCIM, President 

Frisco Economic Development Corporation

6801 Gaylord Parkway, Suite 400

Frisco, Texas 75034

	
With copy to:

	
Abernathy, Roeder, Boyd and Joplin, P.C. 

1700 Redbud Blvd., Suite 300

McKinney, Texas 75069

Attention: Mr. G. Randal Hullett

 

	
COMPANY:

	
OXYSURE SYSTEMS, INCORPORATED 

Attn:  Julian Ross

10880 John W. Elliott Drive, Suite 600

Frisco, Texas 75034

 

	
With copy to:

	
Attn: William D. Hayward 

Hayward, Hiersche, Hayward, & Urbach, P.C

15303 Dallas Parkway, Suite 700

Addison, Texas 75001

By the execution hereof, each signatory hereto represents and affirms that he is acting on behalf of the party indicated, that such party has taken all action necessary to authorize the execution and delivery of the Agreement and that the same is a binding obligation on such party.

If not fully executed, this Agreement shall expire and become null and void thirty (30) days from approval by the FEDC.

FEDC BOARD APPROVED this 16th  day of March, 2011.

  

PERFORMANCE AGREEMENT - Page 10 of 14

  

 

	FEDC:	 	 	 	 
	 	 	 	 	 	 
	FRISCO ECONOMIC DEVELOPMENT CORPORATION	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	/s/ James L. Gandy 	 	 	 	
 

	James L. Gandy, President	 	 	 	 
	 	 	 	 	 	 
	Dated:	    March 22, 2011	 	 	 	 

 

 

	COMPANY:	 	 	 	 
	 	 	 	 	 	 
	
OXYSURE SYSTEMS, INCORPORATED, a

Delaware Corporation

	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	/s/ Julian T. Ross 	 	 	 	
 

	Julian T.Ross, President	 	 	 	 
	 	 	 	 	 	 
	Dated:	    March 22, 2011	 	 	 	 

  

PERFORMANCE AGREEMENT - Page 11 of 14

  

Exhibit A

PROMISSORY NOTE

 

	$213,000.00	Frisco, Texas	March 22, 2011

                                                                                                         

FOR VALUE RECEIVED, OXYSURE SYSTEMS, INCORPORATED, a Delaware corporation (hereinafter called "Maker"), promises to pay to the order of  FRISCO ECONOMIC DEVELOPMENT CORPORATION, a Texas corporation (hereinafter sometimes called "Holder"), at 6801 Gaylord Parkway, Ste. 400, Frisco, TX 75034, or at such place as the Holder may from time to time designate in writing, the sum of TWO HUNDRED THIRTEEN THOUSAND AND NO/1OO DOLLARS ($213,000.00) (the “Loan”), in legal and lawful money of the United States of America.

The Loan is subject to the terms and conditions of that one certain Performance Agreement between Holder and Maker dated March 22, 2011 (the “Agreement”).

Interest Rate: The unpaid principal of this Note shall accrue interest from the date of advancement until maturity at the rate of 0.00% per annum.  At maturity, or in the event of default, interest shall accrue at the default interest rate (hereinafter defined).

Terms of Payment: Principal and interest shall be due and payable as follows:

	
  

	
1.

	
Twenty-six Thousand Dollars and No/100s ($26,000.00) on or before the expiration date to complete the Performance Requirements for Incentive No. 1 as set forth in the Performance Agreement;

	
  

	
2.

	
Thirty-nine Thousand Dollars and No/100s ($39,000.00) on or before the expiration date to complete the Performance Requirements for Incentive No. 2 as set forth in the Performance Agreement;

	
  

	
3.

	
Forty-four Thousand Dollars and No/100s ($44,000.00) on or before the expiration date to complete the Performance Requirements for Incentive No. 3 as set forth in the Performance Agreement;

	
  

	
4.

	
Fifty-two Thousand Dollars and No/100s ($52,000.00) on or before the expiration date to complete the Performance Requirements for Incentive No. 4 as set forth in the Performance Agreement; and

  

PERFORMANCE AGREEMENT - Page 12 of 14

  

	
  

	
5.

	
Fifty-two Thousand Dollars and No/100s ($52,000.00) on or before the expiration date to complete the Performance Requirements for Incentive No. 5 as set forth in the Performance Agreement.

Default Interest Rate: Any principal and/or interest amount not paid when due shall bear interest at the rate of eighteen percent (18%) per annum.  In no event shall the interest rate and related charges either before or after maturity be greater than permitted by law.

“Default” is defined herein as:

(1)           Default in the payment of any installment of principal or interest due hereunder, unless such payment of any installment has been forgiven pursuant to the terms and conditions set forth in that certain Performance Agreement executed by and between Maker and Holder;

 

(2)           Default in the performance of any of the covenants or provisions of the Agreement;

(3)           The liquidation, termination, or dissolution of any of the undersigned;

(4)           The bankruptcy or insolvency of, the assignment for the benefit of creditors by, or the appointment of a receiver for any property of, or the issuance of a writ of garnishment against Holder requesting a garnishment of all indebtedness which Holder owes to any party liable for the payment of this Note, whether as Maker, endorser, guarantor, surety or otherwise;

The undersigned and all other parties now or hereafter liable for the payment hereof, whether as endorser, guarantor, surety, or otherwise, severally waive all notices of any kind whatsoever, including, but not limited to, demand, presentment, notice of dishonor, diligence in collecting, grace, notice, protest, notice of intent to accelerate the maturity, notice of acceleration, and consent to all renewals and extensions which from time to time may be granted by the Holder hereof and to all partial payments hereon, whether before or after maturity.

If this Note is not paid when due, or if it is collected through a bankruptcy, probate, or other court, the undersigned agree to pay reasonable attorneys' fees, together with all actual expenses of collection and litigation and costs of court incurred by the Holder hereof.

This Note has been executed and delivered in, and shall be construed in accordance with, and governed by, the laws of the State of Texas.  Venue for any action on this Note shall be in Collin County, Texas.

  

PERFORMANCE AGREEMENT - Page 13 of 14

  

All agreements between the undersigned and the Holder hereof whether now existing or hereafter arising and whether written or oral are hereby expressly limited so that in no contingency or event whatsoever, shall the amount paid, or agreed to be paid, to the Holder hereof for the use, forbearance, or detention of the money to be loaned hereunder or otherwise or for the payment or performance of any covenant or obligations contained herein or in any other document evidencing, or pertaining to the indebtedness evidenced hereby, exceed the maximum amount permissible under applicable law.  If from any circumstances whatsoever, fulfillment of any provision hereof or other document at the time performance of such provision shall be due, shall involve transcending the limit of validity prescribed by law, then, ipso facto, the obligation to be fulfilled shall be reduced to the limit of such validity, and if from any such circumstances the Holder hereof should ever receive an amount deemed to be interest by applicable law which shall exceed the highest lawful rate, such amount which would be excessive interest shall be applied to the reduction of the principal amount owing hereunder or to the reduction of any other principal indebtedness of the undersigned to the Holder hereof, and not to the payment of interest or if such excessive interest exceeds the unpaid balance of principal hereof and such other indebtedness, the excess shall be refunded to the undersigned.  All sums paid or agreed to be paid by the undersigned for the use, forbearance, or detention of the indebtedness of the undersigned to the Holder hereof shall, to the extent permitted by applicable law, be amortized, prorated, allocated, and spread throughout the full stated term of such indebtedness until payment in full so that the actual rate of interest on account of such indebtedness is uniform throughout the full stated term hereof.  The terms and provisions of this paragraph shall control and supersede every other provision of all agreements between the undersigned and the Holder hereof.

The Note renews and extends the balance of $213,000.00 that Maker owes on a prior note in the original principal amount of $243,000.00, which is dated April 3, 2007, executed by OxySure Systems, Inc., a Delaware corporation, and payable to the order of the Frisco Economic Development Corporation, a Texas corporation.

Dated to be effective March 22, 2011.

	 	

OXYSURE SYSTEMS, INCORPORATED, a

Delaware Corporation

	 
	 	 	 	 
	 	 	 	 
	
 

	
By: 

	/s/ Julian T. Ross	 
	 	 	

Julian T. Ross, President

	 

 

PERFORMANCE AGREEMENT - Page 14 of 14

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