Document:

Unassociated Document

    Supply
      Agreement

     

    THIS
      SUPPLY AGREEMENT dated as of April 20, 2007 (this “Agreement”), by and between
      Alltrista Plastics Corporation d/b/a Jarden Plastic Solutions, an Indiana
      corporation with its principal place of business located at 1303 South
      Batesville Road, Greer, SC 29650-2750 (“Jarden Plastic Solutions”), and Innopump
      Inc., d/b/a Versadial, a Nevada corporation with its principal place of business
      located at 305 Madison Avenue, New York, NY 10165 (“Versadial”). Each of Jarden
      Plastic Solutions and Versadial is referred to herein as a “Party” and sometimes
      collectively as the “Parties”.

     

    WHEREAS,
      Jarden Plastic Solutions is willing to sell Products to Versadial on the terms
      and conditions contained in this Agreement; and 

     

    WHEREAS,
      Versadial is willing to purchase 40MM and 49MM Dual Chambered Pumps including
      all versions, extensions, and/or product enhancements thereto (“40MM and 49MM
      Dual Chambered Pumps”), and to purchase other products as may be added to this
      Agreement by the mutual written agreement (together with the 40MM and 49MM
      Dual
      Chambered Pumps “Products”), each as described on Schedules A-D (“Schedules),
      upon the terms, provisions and conditions set forth in this Agreement.

     

    NOW
      THEREFORE, in consideration of the covenants and agreements herein, and other
      good and valuable consideration, the sufficiency of which is hereby
      acknowledged, the Parties agree as follows:

     

    
      	1.  	
              Manufacture/Purchase
                Requirements Contract.

            

    

     

    
      	(a)  	
              During
                the Term (as hereinafter defined) of this Agreement, Versadial agrees
                to
                purchase from Jarden Plastic Solutions and Jarden Plastic Solutions
                agrees
                to sell to Versadial not less than 100,000,000 units in the aggregate
                of
                Versadial’s 40MM and 49MM Dual Chambered Pumps, which shall be produced
                using the injection molding tooling and automation equipment referred
                to
                on Schedule A-D (the “Equipment”) and similar products as are developed
                under this Agreement. During the Term (as hereinafter defined) of
                this
                Agreement, Jarden Plastic Solutions shall have first right of refusal
                for
                any future additional tooling for the 40MM and 49MM Dual Chambered
                Pumps.
                This right of first refusal shall be subject to the same criteria
                with
                respect to timing and terms
                as the criteria for the right of first refusal set forth in Section
                8(a)(ii) hereof. Jarden Plastic Solutions shall also sell to Versadial
                such other Products as may be mutually agreed upon in writing from
                time to
                time by Versadial and Jarden Plastic Solutions. Versadial agrees
                to place
                orders of not less then One Hundred Million (100,000,000) units in
                the
                aggregate of the 40MM and 49 MM Dual Chambered Pumps (the “Minimum”)
                during the Term of this Agreement, subject to the manufacturing capacity
                of Jarden Plastic Solutions to meet that level of production. Jarden
                Plastic Solutions hereby represents and warrants to Versadial that
                Jarden
                Plastic Solutions shall be able to manufacture, in accordance with
                the
                specifications and using the tooling and automation equipment referred
                to
                on Schedules A-D, not less than 100,000,000 Million units in the
                aggregate
                of the 40 MM and 49 MM Dual Chambered Pumps over the Term so that
                it will
                satisfy the Minimum and 20,000,000 units in the aggregate of the
                40 MM and
                49 MM Dual Chambered Pumps annually during each rolling twelve (12)
                month
                period commencing one (1) year after the date hereof (the “Monthly
                Minimum”). 

            

    

     

    
      
        
        

      

      
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      	(b)  	
              Versadial
                shall be deemed to have satisfied its obligation to place an order,
                if it
                places purchase orders (each a “Purchase Order”) for units within the
                scheduled manufacturing capacity not less than 30 days in advance
                of the
                delivery date of the order. All purchase orders from Versadial which
                comply with the immediately preceding sentence (i.e. are within the
                scheduled manufacturing capacity) shall be accepted by Jarden Plastic
                Solutions.

            

    

     

    
      
        
        

      

      
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      	2.  	
              Price,
                Invoices and Payment Terms.

            

    

     

    
      	(a)  	
              Price
                -The prices for Products is determined as specified on the Schedule
                A-D
                and are exclusive of any and all taxes whatsoever, whether sales,
                use,
                excise or other, whether or not same are set forth separately on
                invoice
                to Versadial; provided
                no
                invoice shall include taxes in the nature of income taxes or franchise
                taxes. If Jarden Plastic Solutions shall subsequently be required
                to pay
                any such taxes relating to the production, sale or transportation
                of the
                Products (other than income taxes or franchise taxes attributable
                to
                Jarden), Versadial will reimburse Jarden Plastic Solutions for such
                taxes;
                provided
                that if any such taxes paid are subsequently refunded, Jarden Plastic
                Solutions shall pay to Versadial the amount of any such refund. If
                any of
                the Products are imported into any other country by Versadial, Versadial
                will be responsible for all legal, regulatory and administrative
                requirements associated with any exportation and the payment of all
                associated duties, taxes and fees. Prices may increase or decrease
                from
                those set forth in Schedule A-D; provided
                that any such increase or decrease will only be made if there has
                been an
                actual change in the cost of any of the components included therein
                (such
                changes limited to the cost of the items on Schedule E, which sets
                forth
                the base unit cost of materials, labor, and power included in the
                component prices set forth on Schedules A-D), which has actually
                been
                incurred by Jarden Plastic Solutions, based upon its third party
                arm’s
                length arrangements with the vendors of such materials. Any such
                price
                increase or decrease, if applicable, shall be made once every six
                (6)
                months. Subject to the foregoing, any such increase shall be on not
                less
                than thirty (30) days prior written notice from Jarden Plastic Solutions
                to Versadial, which notice shall set forth the amount of any such
                price
                increase and such other information as Versadial may reasonably request
                in
                order to permit Versadial to verify and audit such price change.
                Notwithstanding that prices are only subject to change every six
                (6)
                months (as aforesaid), should a catastrophic event occur which effects
                the
                then current price of resins or the particular component parts set
                forth
                on Schedules A-E (a “Catastrophic Price Event”), resulting in a price
                increase or decrease by ten percent (10%) or more, upon not less
                ten (10)
                days prior written notice, from Jarden Plastic Solutions to Versadial,
                the
                price of the resins or effected component shall be increased or decreased.
                Any price increase or decrease, other than purchased components,
                shall be
                limited to the actual increase or decrease in the component of the
                aggregate price that has increased or decreased multiplied by the
                margin
                factor illustrated on Schedule F attached hereto. With respect to
                purchased components, any price increase or decrease shall be limited
                to
                the actual increase or decrease in the component of the aggregate
                price
                that has increased or decreased. Schedule E attachment shows the
                current
                purchase costs of such components. If the audit by Versadial results
                in a
                difference of opinion as to the proposed price increase, the Parties
                shall
                attempt for a period of ten (10) days to resolve the difference.
                If the
                difference cannot be resolved within such ten (10) day period, it
                shall be
                submitted to binding arbitration pursuant to Section 31 hereof. Any
                such
                price increase that is being audited shall not be effective, except
                as
                provided in the immediately following sentence. The price increase
                or
                decrease shall go into effect thirty (30) days after such ten (10)
                day
                period, if an arbitration ensues and the arbitration is not concluded
                within such thirty (30) day period. If as a result of the arbitration
                it
                is determined that the price increase was or decrease was greater
                than
                appropriate under the terms hereof, the Party that received the excess
                increase or decrease shall pay to the other Party hereto, that amount
                of
                such excess together with interest thereon, at a rate equal to seven
                percent (7%) per annum (calculated on the basis of a year of twelve
                (12)
                months of thirty (30) days) from the date the increase or decrease
                went
                into effect until such excess is paid in
                full.

            

    

     

    
      
        
        

      

      
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      	(b)  	
              Invoices
                - Jarden Plastic Solutions shall invoice Versadial when Products
                are
                shipped from Jarden Plastic Solution’s manufacturing facility FOB, to
                Versadial’s customers or pursuant to Versadial’s direction. All payments
                by Versadial on invoices shall be due forty-five (45) days following
                receipt of Jarden Plastic Solutions’ invoice, except for any invoice or
                portion thereof that Versadial is disputing in good faith. Should
                Versadial fail to pay the undisputed portion of any invoice within
                forty-five (45) days of the date of the invoice, then Jarden Plastic
                Solutions shall, in addition to and without prejudice to any other
                remedies available to Jarden Plastic Solutions under the Agreement,
                Versadial shall pay interest at the rate of 1.0% per month on any
                undisputed unpaid portion of an invoice that is not paid when due
                (prorated for any portion thereof, if less then a month).
                

            

    

     

    
      	(c)  	
              Indemnification
                and Other Payments - All other payments hereunder (regardless of
                the Party
                making the payment), inclusive of rebates, refunds and indemnification
                shall be made thirty (30) days following written presentation of
                the
                applicable claim. If the payment is not received within such thirty
                (30)
                day period, in addition to and without prejudice to any other remedies
                available to the Party making the claim, the other Party shall pay
                interest at the rate of 1.0% per month of the an amount of the claim
                (prorated for any portion thereof, if less than a month). All payments
                between the Parties under this Agreement shall be made in U.S. dollars.
                

            

    

     

    
      
        
        

      

      
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      	(d)  	
              Versadial
                agrees to establish a “Lock Box” or similar secure, segregated account
                (“Lock Box”) with a third party bank or other third party custodian
                reasonably acceptable to Jarden Plastic Solutions, which Lock Box
                shall be
                governed by the terms of a separate agreement (the “Lock Box Agreement”),
                reasonably acceptable to Jarden Plastic Solutions (which shall be
                a third
                party beneficiary thereto), to be entered into by and between Versadial
                and the custodian of the Lock Box. The Lock Box Agreement will terminate
                immediately when Versadial has paid all amounts owing under the separate
                Amortization Agreement between Versadial and Jarden Plastic Solutions
                in
                the form of Exhibit 1 attached hereto (the “Amortization Agreement”).
                Versadial shall direct all customers to whom it sells any of the
                Products
                or goods which incorporate the Products to remit all payments due
                from
                such customers that specifically relate to the Products or goods
                which
                incorporate the Products directly to the Lock Box. Versadial agrees,
                and
                the Lock Box Agreement shall provide, that any amounts held in the
                Lock
                Box shall be paid (i) first, to Jarden Plastic Solutions in respect
                of any
                amounts currently due to it pursuant to this Agreement for the applicable
                Products for which the payment relates, and (ii) second, only after
                all
                amounts then due and payable to Jarden Plastic Solutions pursuant
                to
                clause (i) have been so paid, to Versadial. Subject to the consent
                of
                Versadial’s senior lender (which consent may or may not be given),
                Versadial hereby agrees to grant Jarden Plastic Solutions a first
                priority
                security interest in the contents of the Lock Box and to execute
                such
                further documents and take such further actions as Jarden Plastic
                Solutions may reasonably request in order to record and perfect such
                security interest. The security interest shall terminate when all
                amounts
                due by Versadial pursuant to the Amortization Agreement have been
                paid,
                whereupon Jarden Plastic Solutions shall execute such documents and
                take
                such actions as Versadial may reasonably request in order to evidence
                the
                termination of such security interest. Versadial also agrees to provide
                Jarden Plastic Solutions access to its invoices and other payment
                and
                billing records as it may reasonably request in order to verify the
                determination and allocation of amounts distributed from the Lock
                Box.

            

    

     

     

    
      	3.  	
              Specifications/Non-Conforming
                Goods.

            

    

     

    
      	(a)  	
              Jarden
                Plastic Solutions represents and warrants that all Products produced
                by
                Jarden Plastic Solutions under this Agreement shall conform to their
                respective Specifications as set forth in Exhibit A hereto (the
                “Specifications”). 

            

    

     

    
      
        
        

      

      
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      	(b)  	
              Subject
                to Versadial’s termination rights set forth in Section 8 hereof,
                Versadial’s sole remedy for non-conforming Products or goods which
                incorporate the Products (i.e. do not conform to the Specifications)
                shall
                be to receive a credit for each nonconforming Product. Notwithstanding
                the
                foregoing, if such non-conformance is due to the gross negligence
                or
                willful misconduct of Jarden Plastic Solutions, Versadial shall retain,
                and be able to exercise, all of its rights and remedies hereunder,
                and
                under law and in equity, with respect to such non-conformance. Versadial
                shall dispose of non-conforming Product at the sole cost and expense
                of
                Jarden Plastic Solutions, and, at Jarden Plastic Solutions’ request and,
                at its cost and expense, shall ship to Jarden Plastic Solutions some
                or
                all non-conforming Products and goods for inspection by Jarden Plastic
                Solutions. 

            

    

     

    
      	4.  	
              Forecasts.
                Versadial will provide good faith forecasts to Jarden Plastic Solutions
                at
                the beginning of each of calendar quarter during the Term for each
                Product. Forecasts by Versadial are for Jarden Plastic Solutions’ planning
                purposes only and shall not be deemed to be a binding commitment
                of
                Versadial and/or its affiliates. 

            

    

     

    
      	5.  	
              Order
                Procedure.

            

    

     

    
      	(a)  	
              Versadial
                shall place orders for Products to be supplied under this Agreement
                using
                a Purchase Order, specifying the quantity of each type of Product
                ordered
                and the requested delivery date. As specified above, Jarden Plastic
                Solutions shall accept all order for Products that are within the
                schedule
                capacity of Jarden Plastic Solutions and which have not less than
                a thirty
                (30) day lead time. Unless specified otherwise in any Purchase Order,
                FOB
                Jarden Plastic Solutions manufacturing facility shall have the meaning
                ascribed to it in Incoterms 2000.

            

    

     

    
      	(b)  	
              Termination
                of Purchase Orders - Accepted purchase orders, are not subject to
                termination or modification, unless they can reasonably be replaced
                at no
                additional cost to Jarden Plastic Solutions or Versadial, depending
                upon
                which Party purports to terminate the purchase orders.
                

            

    

     

    
      
        
        

      

      
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      	6.  	
              Shipment,
                Delivery and Title.

            

    

     

    
      	(a)  	
              The
                Products shall be delivered to Versadial and title to the Products
                shall
                pass to Versadial FOB Jarden Plastic Solutions’ manufacturing facility
                located at Reedsville, PA. After two (2) years after the date hereof,
                Jarden Plastic Solutions may change the manufacturing facility to
                one of
                its other manufacturing facilities in the continental United States,
                unless Jarden Plastic Solutions sells the manufacturing facility
                located
                at Reedsville, PA prior to such two (2) year period or there is a
                catastrophic event at such facility which results in such damage
                or
                destruction to such facility to render such facility incapable of
                allowing
                Jarden Plastic Solutions to fulfill its obligation hereunder from
                such
                facility, in which case the change may occur earlier, subject to
                the
                conditions specified in this Section 6(a). Any such change to a new
                manufacturing facility shall be subject to the following: (i) Jarden
                Plastic Solutions shall furnish Versadial with not less than ninety
                (90)
                days prior written notice of such change whenever practicable, (ii)
                the
                new manufacturing facility (x) shall be of comparable quality to
                the then
                existing manufacturing facility, shall be cGMP complaint and shall
                have
                FDA regulation in effect and (y) shall permit Jarden Plastic Solutions
                to
                satisfy all of its obligations and agreements hereunder; (iii) shall
                be at
                no additional cost or expense to Versadial and Jarden Plastic Solutions
                shall pay for all additional costs and expenses incurred by Versadial
                in
                connection with the move (including, without limitation, all actual
                costs
                of the move itself); (iv) shall not result in the manufacturing process
                being down or not fully operative for a period of more than four
                (4)
                weeks; and (v) Jarden Plastic Solutions shall satisfy all accepted
                Purchase Orders received in accordance with the terms hereof prior
                to the
                date of the move from the then existing manufacturing facility in
                accordance with the terms hereof.

            

    

     

    
      	(b)  	
              Title
                to the Products shall pass to Versadial as specified in Section 6(a)
                above. If certain of the Product(s) ordered are destroyed prior to
                title
                passing to Versadial, Jarden Plastic Solutions shall have the right
                to
                require delivery of the goods not destroyed or damaged; provided
                that Versadial’s customer whose order has been destroyed or damaged will
                accept a partial shipment. Risk of loss to the Products shall remain
                with
                Jarden Plastic Solutions until title to the Products passes to
                Versadial.

            

    

     

    
      
        
        

      

      
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      	(c)  	
              If
                all or any portion of an order is not delivered on the delivery date(s)
                acknowledged in the relevant Purchase Order, Versadial may require
                Jarden
                Plastic Solutions to ship the order via premium means (such as air
                freight) at Jarden Plastic Solution’s
                expense.

            

    

     

    
      	(d)  	
              Delivery
                - If no delivery schedule is specified, the order shall be filled
                promptly.

            

    

     

    
      	7.  	
              Inspection
                at Destination/Rejection of Shipment. Versadial or its customer shall
                inspect all Products upon delivery of the Products to Versadial’s customer
                or specified in the applicable purchase order. If Products are not
                rejected within fourteen (14) days of receipt they shall be deemed
                accepted. Acceptance of Products shall be conclusive except as regards
                latent defects, or fraud, gross negligence or willful misconduct
                on the
                part of Jarden Plastic Solutions which amounts to fraud. Without
                limiting
                Versadial’s rights or remedies for latent defects in Products and/or fraud
                (including, without limitation, with respect to matters of products
                liability), all such rights and remedies being hereby reserved, Jarden
                Plastic Solutions shall be responsible for all of all reasonable
                costs and
                expenses of returning any such non-conforming
                Products.

            

    

     

    
      	8.  	
              Term
                and Termination.

            

    

     

    
      	(a)  	
              Term
                - This Agreement shall commence on the date first above written.
                

            

    

     

    
      	(i)  	
              Unless
                terminated earlier as provided herein, this Agreement shall expire
                on the
                fifth anniversary of the date first of this Agreement (the “Term”).
                Notwithstanding the foregoing, if at the end of the fifth anniversary
                of
                the date hereof, Versadial has not issued Purchase Orders that meet
                the
                criteria described in Section 1(a) for the Minimum , the Term of
                this
                Agreement shall be extended until Versadial has issued such Purchase
                Orders for the Minimum.

            

    

     

    
      	(ii)  	
              Provided
                that no Party is in material default of its obligations hereunder
                and the
                Agreement is still in effect, the Parties agree that at the expiration
                of
                the Term of this Agreement, the Parties shall negotiate in good faith
                a
                renewal of this Agreement. To the extent Versadial and Jarden Plastic
                Solutions do not agree on the terms of any such renewal, Versadial
                shall
                solicit other bids for the manufacture of the Products from third
                parties,
                subject to a right of first refusal in favor of Jarden Plastic Solutions.
                Prior to entering into any agreement with a third party, pursuant
                to the
                right of first refusal in favor of Jarden Plastic Solutions, Versadial
                shall provide all of the material terms of the third party offer
                it
                intends to accept writing to Jarden Plastic Solutions. Jarden Plastic
                Solutions shall have thirty (30) days after receipt of written notice
                of
                the material terms to accept such terms of the third party offer
                as its
                agreement with Versadial by giving written notice to Versadial within
                such
                thirty (30) day period. If Jarden Plastic Solutions fails to give
                notice
                of acceptance within such thirty (30) day period, this right of first
                refusal will be deemed to have expired and Versadial shall be free
                to
                enter into the agreement with the third
                party.

            

    

     

    
      
        
        

      

      
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      	(b)  	
              Termination
                - This Agreement may be terminated as
                follows:

            

    

     

    
      	(i)  	
              This
                Agreement shall be terminable immediately, upon written notice by
                the
                Party terminating this Agreement (the “Terminating Party”) to the other
                Party hereto:

            

    

     

    
      	(A)  	
              If
                the other Party (the “Non-Terminating Party”) dissolves or institutes
                proceeding seeking relief under a bankruptcy code or similar law,
                or
                consents to the filing against it of any petition for the appointment
                of a
                receiver, liquidator, assignee, trustee, sequestrator (or any similar
                official) over such Non-Terminating Party or all or substantially
                all of
                its assets, or permits any such proceeding to remain undismissed
                for a
                period of forty five (45) days or more, or makes an assignment for
                the
                benefit of creditors, or admits in writing its inability to pay its
                debts
                as they become due, or takes any action in furtherance of the
                foregoing;
                or

            

    

     

    
      	(B)  	
              Upon
                any default by the Non-Terminating Party under this Agreement of
                any
                material covenant, provision or agreement set forth herein to be
                performed
                or observed by the other party hereto (including, without limitation,
                any
                payment obligation of a party hereunder), if such default is or cannot
                be
                cured by the defaulting Party within thirty (30) days of receipt
                of
                written notice from the Terminating Party of the default specifying
                in
                detail the nature of the default, or such longer period of
                time.

            

    

     

    
      
        
        

      

      
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      	(ii)  	
              This
                Agreement may be terminated immediately by Jarden Plastic Solutions
                if the
                Specifications for any Product are determined by a court of competent
                jurisdiction to infringe upon any statutory or common law patent,
                copyright, trademark or other intellectual property right of any
                person,
                entity, or party or if the Products or Specifications are determined
                by a
                court of competent jurisdiction to violate any applicable
                law.

            

    

     

    
      	(iii)  	
              In
                addition to the other grounds for termination by Versadial set forth
                in
                this Section 8, this Agreement may be terminated at any time by Versadial
                in accordance with this Section 8(iii), upon thirty (30) days prior
                written notice from Versadial to Jarden Plastic Solutions without
                any
                grounds or reason; provided
                that Versadial shall (x) reimburse Jarden Plastic Solutions for all
                amounts owing and unpaid by Versadial hereunder through the date
                of
                termination, (y) pay all amounts remaining to be paid under the
                Amortization Agreement and (z) pay a penalty to Jarden Plastic Solutions,
                based upon when the termination occurs, as
                follows:

            

    

     

    
      	
              (A) Prior
                to the end of year one of this Agreement

            	 	
              $

            	
              2,500,000

            	 
	 	 	 	 	 
	
              (B) After
                year one but prior to the end of year two of this
                Agreement

            	 	
              
              

              $

            	
              
              

              1,600,000

            	 
	 	 	 	 	 
	
              (C) After
                year two but prior to the end of year three of this
                Agreement

            	 	
              
              

              $

            	
              
              

              1,000,000

            	 
	 	 	 	 	 
	
              (D) After
                year three but prior to the end of year four of this
                Agreement

            	 	
              
              

              $

            	
              
              

              500,000

            	 

    

     

     

    
      
        
        

      

      
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    The
      amount owing under clauses (x), (y) and (z) shall be placed by Versadial with
      a
      mutually agreed to third party escrow agent who shall be directed to release
      the
      funds from escrow concurrently with the return of the Equipment by Jarden
      Plastic Solutions to Versadial (or as directed by Versadial), in good working
      condition, subject to normal wear and tear, and free and clear of any and all
      liens, mortgages, security interests or other encumbrances of any nature
      whatsoever. The penalty set forth in this Section 8(b)(iii) shall not be
      applicable to the termination of this Agreement for any other reason whatsoever
      and/or pursuant to any other provision of this Agreement.

     

    
      	(iv)  	
              This
                Agreement may be terminated upon written notice from Versadial to
                Jarden
                Plastic Solutions if Jarden Plastic Solutions fails to deliver injection
                molded parts at a level of eighty-five percent (85%) of the Annual
                Minimum
                number of parts in any rolling year starting twelve (12) months after
                the
                date of this Agreement; provided
                that Versadial orders at least the Monthly Minimum in each month
                of such
                rolling year.

            

    

     

    
      	(v)  	
              Versadial
                may terminate this Agreement as to the assembly process only, and
                move the
                assembly process from Jarden Plastic Solutions facility if Jarden
                Plastic
                Solutions fails to assemble 85% of the Annual Minimum number of final
                assemblies in any rolling year starting twelve (12) months after
                the date
                of this Agreement; provided
                that Versadial orders at least the Monthly Minimum in each month
                of such
                rolling year.

            

    

     

    
      	(c)  	
              Effects
                of Termination - In the event that Jarden Plastic Solutions terminates
                this Agreement pursuant to Sections 8(b)(i)(A), 8(b)(i)(B) or 8(b)(ii)
                or
                Versadial terminates this Agreement pursuant to Sections 8(b)(i)(A)
                or
                8(b)(i)(B), in addition to all rights the Terminating Party has under
                this
                Agreement, the Terminating Party shall have the right to exercise
                any and
                all rights and remedies available to it at law or in equity. If
                this Agreement is terminated by Versadial pursuant to Sections 8(b)(iv)
                or
                8(b)(v), (x) Versadial shall promptly pay Jarden Plastic Solutions
                for all
                amounts due and owing to Jarden Plastic Solutions as of the date
                of
                termination, (y) subject to compliance by Jarden Plastic Solutions
                with
                clause (z) of this sentence, Versadial shall continue to remain obligated
                for any amounts owing under the Amortization Agreement which shall
                be paid
                as an when Products are manufactured for Versadial, and (z) concurrently
                with such termination (at the cost and expense of Jarden Plastic
                Solutions), Jarden Plastic Solutions shall deliver the Equipment
                to
                Versadial (or as directed by Versadial) in good working condition,
                subject
                to normal wear and tear and free and clear of any and all liens,
                mortgages, security interests or other encumbrances of any nature
                whatsoever; provided
                that with respect to a termination pursuant to Section 8(b)(v), the
                Equipment to be returned shall be limited to the assembly tables.
                All
                rights and remedies described herein are cumulative and the election
                of
                one remedy shall not preclude
                another.

            

    

     

    
      
        
        

      

      
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      	(d)  	
              Surviving
                Obligations. The termination of this Agreement or expiration of this
                Agreement shall not affect any other rights of either Party which
                may have
                accrued up to the date of such termination or expiration, relieve
                either
                Party of its obligations which remain to be paid or to be performed
                as of
                such to termination or expiration of this Agreement. Notwithstanding
                the
                termination or the expiration of this Agreement, the obligations
                of the
                Parties set forth in Sections 8, 9, 11(b), 11(c), 11(d), 14, 15,
                17, 19,
                20, 23, 28, 29, 30, 31 and 32, shall continue in full force and
                effect. 

            

    

     

    
      	(e)  	
              Upon
                payment of all amounts required to be paid pursuant to the Amortization
                Agreement, all right, title and interest in and to the Equipment
                shall
                automatically be transferred to Versadial free and clear of any and
                all
                liens, mortgages, security interests or other encumbrances of any
                nature
                whatsoever, and Jarden Plastic Solutions shall take all such actions
                in
                furtherance of such transfer of the Equipment to Versadial (as aforesaid),
                as Versadial shall reasonably
                request.

            

    

     

    
      	9.  	
              Representations
                and Warranties.

            

    

     

    
      	(a)  	
              Mutual
                Representations and Warranties. Each of the Parties hereby represents
                and
                warrants this Agreement is a legal and valid obligation binding upon
                such
                Party and enforceable in accordance with its terms; the execution,
                delivery and performance of each this Agreement by such Party does
                not
                conflict with any material agreement, instrument or understanding,
                oral or
                written, to which it is a Party or by which it is bound; this Agreement
                does not violate any law or regulation of any court, governmental
                body or
                administrative or other agency having jurisdiction over it; and the
                Party
                is validly organized, in good standing, and licensed to conduct business
                in each jurisdiction in which the failure to do so would have a material
                adverse effect on such Party; and such Party does not need to obtain
                any
                third party consents in order to perform its obligations hereunder.
                

            

    

     

    
      
        
        

      

      
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      	(b)  	
              Product
                Warranty.
                Jarden Plastic Solutions warrants that Product(s) shall (i) be of
                good and
                merchantable quality and fit for the purpose for which they are intended,
                and (ii) be free from all defects (latent or otherwise) in material
                and
                workmanship, (iii) be free and clear of any and all liens, security
                interests and other adverse claim against title and possession and
                (iv) be
                provided to Versadial new; and (v) will conform in all respects to
                the
                Specifications. 

            

    

     

    
      	10.  	
              Design
                Work for Future Products. Versadial will offer to Jarden Plastic
                Solutions
                any packaging product design and development projects that involve
                injection molding processes undertaken related to the Products during
                the
                Term of this Agreement concurrently with offering the work to any
                other
                entity or person. If Versadial elects to solicit other bids on such
                work,
                Versadial shall present the written third party offer it intends
                to accept
                in its entirety on a right of first refusal basis to Jarden Plastic
                Solutions. Jarden Plastic Solutions shall have ten (10) days to accept
                the
                work on the terms of the third party offer by giving written notice
                to
                Versadial. If Jarden Plastic Solutions fails to give notice of acceptance
                in a timely manner, the right of first refusal for such project will
                be
                deemed to have expired.

            

    

     

    
      	11.  	
              Intellectual
                Property Ownership and Rights.

            

    

     

    
      	(a)  	
              Grant
                of License. Versadial hereby grants to Jarden Plastic Solutions a
                limited,
                non-assignable and non-transferable license to use the Patents set
                forth
                on Schedule G attached hereto in the United States, during the Term,
                in
                connection with the manufacture of the Products and for no other
                purpose
                whatsoever. The scope of such license is strictly limited as provided
                herein and may not be assigned, transferred by Jarden Plastic Solutions
                nor may Jarden Plastic Solutions enter into sub-license with respect
                thereto. This license shall terminate upon the termination of this
                Agreement for any reason
                whatsoever.

            

    

     

    
      	(b)  	
              Right
                to Patent. Versadial represents and warrants that it has the exclusive
                worldwide right, as, licensor to grant the license provided for in
                Section
                11(a) and the Patent does not violate or infringe the right of any
                third
                party.

            

    

     

    
      
        
        

      

      
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      	(c)  	
              Jarden
                Plastic Solutions shall own the worldwide right, title and interest
                in and
                to all ideas, processes, trademarks, service marks, inventories,
                designs,
                technologies, computer hardware and software, original works of
                authorship, formulas, discoveries, patents, copyrights, copyrightable
                work
                product and other intellectual property, conceived of, developed
                or
                created by Jarden Plastic Solutions or Versadial during the Term
                hereof
                (the “New Intellectual Property”) which in any way relates to any
                manufacturing process similar to the manufacturing process for the
                injection molding components of the Products.

            

    

     

    
      	(d)  	
              Versadial
                shall own the worldwide right, title and interest in and to all New
                Intellectual Property, conceived of, developed or created by Jarden
                Plastic Solutions or Versadial during the Term which in any way relates
                to
                the Products including tooling, drawings, and molds (other than the
                manufacturing process of the injunction molding components). Jarden
                Plastic Solutions expressly waives any right, title or interest that
                it
                may have in and to the drawings for the molds and the tooling and
                acknowledges that such drawings are the sole and exclusive property
                of
                Versadial.

            

    

     

    
      	12.  	
              Agreement
                to License. It is a condition precedent to Jarden Plastic Solutions’
                obligations hereunder that Versadial shall cause Gerhard Brugger
                (“Brugger”) to enter into an Agreement (“Agreement to License”) with
                Jarden Plastic Solutions substantially similar to the form annexed
                hereto
                as Exhibit B and made a part hereof or in a form acceptable to Jarden
                Plastic Solutions within thirty (30) days of execution hereof.
                

            

    

     

    
      	13.  	
              Force
                Majeure. Except for the obligation to pay for the Products, neither
                Party
                hereto shall lose any rights hereunder or be liable for its failure
                to
                perform hereunder, in whole or in part, due to contingencies beyond
                its
                reasonable control, including strikes, riots, war, fire, explosions,
                flood, embargo, lockout, acts of God, injunctions, and compliance
                with any
                law, regulation or order, whether or not valid, of the United States
                of
                America or any governmental body or any instrumentality thereof,
                whether
                now existing or hereto created (an “Event of Force Majeure”); provided,
                however,
                that the Parties shall use reasonable best efforts to continue to
                meet
                their obligations for the duration of the force majeure condition
                and
                shall use its best efforts to remedy the Event of Force Majeure;
                and
                provided further,
                that the Party declaring force majeure shall notify the other Party
                promptly in writing of the commencement of the condition, the nature,
                and
                the termination of the force majeure condition. Notwithstanding the
                foregoing, in no event shall either Party be required to settle any
                labor
                dispute or disturbance. 

            

    

     

    
      
        
        

      

      
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      	14.  	
              Confidentiality.

            

    

     

    
      	(a)  	
              Each
                Party shall not, directly or indirectly, under any circumstance:
                (i)
                disclose to any other Person any Confidential Information of the
                other
                Party hereto; (ii) act or fail to act so as to impair the confidential
                or
                proprietary nature of any such Confidential Information; or (iii)
                offer or
                agree to, or cause or assist in the inception or continuation of,
                any such
                disclosure or impairment of any such Confidential Information. All
                Confidential Information is and shall remain the sole and exclusive
                property of the party disclosing the same the “Disclosing Party” and the
                receiving party (the “Receiving Party”) shall not be deemed to be a
                licensee of any such Confidential Information. Notwithstanding the
                foregoing, subject to compliance with Section 14(b) hereof, a Receiving
                Party shall be entitled to disclose Confidential Information pursuant
                to
                applicable law, governmental regulation or rule or securities exchange
                rule, court order, subpoena or similar judicial or regulatory process.
                For
                purposes hereof, the term “Confidential Information” shall mean any and
                all of the following (regardless of the medium in which maintained
                or
                stored); confidential or proprietary information or material that
                is not
                in the public domain about or relating to any aspect of the transactions
                contemplated hereby or any trade secrets relating to the business
                and/or
                operations of either Versadial or Jarden Plastic Solutions, as the
                case
                may be, or that is designated in writing as confidential at the time
                of
                disclosure, including, without limitation, financial information
                and
                projections, research and development plans or projects; data and
                reports;
                intellectual property strategies, the status of any applications
                for
                patents, trademarks, tradenames, service marks, service names, copyrights
                and other intellectual property rights; computer materials such as
                programs, instructions, source codes, object codes and printouts;
                formulas; recipes; design concepts, product-testing information;
                business
                improvements; processes; manufacturing processes; marketing and selling
                strategies; strategic business plans (whether pursued or not); budgets;
                licenses; pricing, pricing strategy and cost data; information regarding
                employees; the identities of customers and potential customers; the
                identities of contact persons at customers and potential customers;
                pricing; sales terms; service plans, methods, practices, and strategies;
                forecasts, know-how and other marketing techniques; the identities
                of key
                accounts; the identities of suppliers and contractors, and all information
                about those supplier and contractor relationships such as contact
                person(s), pricing and other terms; and the terms of contracts or
                agreements. For purposes hereof, Confidential Information shall not
                include information that (i) is publicly known at the time of its
                disclosure or becomes publicly known through no fault of the Receiving
                Party; (ii) is lawfully received by the Receiving Party from a third
                party, which to the knowledge of the Receiving Party is not bound
                by a
                confidential relationship or a confidentiality agreement with the
                Disclosing Party; or (iii) was already known by the Receiving Party
                hereto
                prior to its receipt of the information from the other Party hereto.
                

            

    

     

    
      
        
        

      

      
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      	(b)  	
              If
                the Receiving Party is required to disclose any Confidential Information
                pursuant to any applicable law, governmental rule or regulation,
                court
                order, subpoena or similar judicial or regulatory process, before
                making
                any disclosure the Receiving Party shall (i) give the Disclosing
                Party
                prompt written notice of the intended disclosure, whenever practicable
                and
                legally permissible, and (ii) to the extent practicable, cooperate
                with
                the Disclosing Party, at the Disclosing Party’s cost and expense, if the
                disclosing Party seeks a protective order or other appropriate remedy.
                In
                the event a protective order is not obtained, or the disclosing Party
                waives compliance with the provisions of Section 14, the Receiving
                Party
                intending to make the disclosure shall disclose only that portion
                of the
                Confidential Information which such the Receiving Party is advised
                by
                legal counsel is legally required to be disclosed.
                

            

    

     

    
      	(c)  	
              Each
                of the Parties acknowledges the importance of its obligations pursuant
                to
                this Section 14 to the business and financial condition of the other
                Party
                hereto and that the breach by such Party of this Section 14 will
                likely
                cause the other Party irreparable harm and damages which would not
                be
                easily calculable, and if calculable, would not provide an adequate
                remedy. Therefore, the Parties agree that the non-breaching Party
                (in
                addition to its other rights and remedies it may have at law or in
                equity,
                all of which shall be cumulative), shall be entitled to seek injunctive
                or
                other equitable relief (without being required to post a bond or
                other
                security or to establish irreparable harm) in respect of any breach
                or
                threatened breach of any provision of this Section
                14.

            

    

     

    
      
        
        

      

      
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      	15.  	
              LIMITATION
                OF LIABILITY. IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER
                PARTY
                FOR INCIDENTAL, INDIRECT, SPECIAL, CONSEQUENTIAL, EXEMPLARY OR PUNITIVE
                DAMAGES, INCLUDING, WITHOUT LIMITATION, LOST PROFITS REGARDLESS OF
                WHETHER
                A PARTY WAS ADVISED OF THE POSSIBILITY OF SUCH DAMAGE.

            

    

     

    
      	16.  	
              Insurance.

            

    

     

    
      	(a)  	
              During
                the Term, Jarden Plastic Solutions shall, at its cost, at all times
                maintain standard occurrence product warranty insurance with respect
                to
                the Jarden Plastic Solutions Products, from insurance carriers of
                recognized financial standing, providing liability coverage of $5,000,000
                in the aggregate and $1,000,000 per occurrence subject to such
                deductibles, as are customary in the industry. Versadial shall be
                named as
                an additional insured on such insurance and the policy may not be
                amended
                unless Versadial is given not less than thirty (30) days prior written
                notice. 

            

    

     

    
      	(b)  	
              During
                the Term, Versadial shall, at its cost, at all times maintain standard
                occurrence product warranty insurance with respect to the Versadial
                Products, from insurance carriers of recognized financial standing,
                providing liability coverage of $5,000,000 in the aggregate and $1,000,000
                per occurrence subject to such deductibles, as are customary in the
                industry. Jarden Plastic Solutions shall be named as an additional
                insured
                on such insurance and the policy may not be amended unless Jarden
                Plastic
                Solutions is given not less than thirty (30) days prior written
                notice.

            

    

     

    
      	17.  	
              Indemnification.

            

    

     

    
      	(a)  	
              Indemnification
                by Jarden Plastic Solutions. Jarden Plastic Solutions does hereby
                agree to
                save, protect, defend, indemnify Versadial and its shareholders,
                parent,
                officers, directors, employees, agents, affiliates and representatives
                and
                their respective successors and assignors (each and “Versadial Indemnified
                Person”), and to hold harmless each Versadial Indemnified Person from and
                against any and all costs, losses, liabilities, claims, actions,
                suits,
                damages and expenses (including, without limitation, reasonable attorneys’
                fees and expenses) (collectively, the “Losses”) which any Versadial
                Indemnified Person may incur or be obligated to pay, or for which
                they or
                any of them may become liable or be compelled to pay in any action,
                suit,
                claim or proceeding against any Versadial Indemnified Person, arising
                from, based upon or relating to (a) breach or default in the performance
                or observance of any material obligation, agreement or covenant of
                Jarden
                Plastic Solutions set forth in this Agreement on the part of Jarden
                Plastic Solutions to be observed or performed, (b) any breach of
                any
                representation or warranty made by Jarden Plastic Solutions set forth
                in
                this Agreement, (c) any act or omission to act which constitutes
                gross
                negligence or willful misconduct on the part of Jarden Plastic Solutions
                or any of Jarden’s Specialty Plastics agents, contractors or employees
                with respect to the matters covered by this Agreement, and (d) any
                product
                warranty claim which is, in whole or in part, that relates to or
                based
                upon a claim or assertion that the Products did not conform to the
                Specifications. In case any action, suit or other proceeding is brought
                against Versadial Indemnified Person for which indemnification is
                sought
                hereunder, Jarden Plastic Solutions, or within notice from Versadial,
                shall defend the same at Jarden’s Specialty Plastics sole cost and expense
                by legal counsel reasonably satisfactory to Versadial. Jarden Plastic
                Solutions shall not settle any such claim, action, suit or other
                proceeding, unless as a part thereof Versadial and each applicable
                Versadial Indemnified Person receives a complete release with respect
                to
                the claims for which indemnification have been
                provided.

            

    

     

    
      
        
        

      

      
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      	(b)  	
              Indemnification
                by Versadial. Versadial does hereby agree to save, protect, defend
                indemnify and hold Jarden Plastic Solutions and its shareholders,
                parent,
                officers, directors, employees, agents, affiliates and representatives
                and
                their respective successors and assigns, (and a “Jarden Plastic Solutions
                Indemnified Person”) and to hold harmless each such Jarden Plastic
                Solutions Indemnified Person from and against any and all Losses,
                which
                Jarden Plastic Solutions Person may incur or be obligated to pay,
                or for
                which they or any of them may become liable or be compelled to pay
                in any
                action, claim or proceeding against them or any of them, arising
                from,
                based upon or relating to (a) any claim by a third Party that Jarden’s
                Specialty Plastics use of the Intellectual Property in accordance
                with the
                terms of this Agreement has resulted in an infringement of such third
                party’s rights, (b) a breach or default by Versadial in the performance
                or
                observance of any material obligation, agreement or covenant of Versadial
                set forth in this Agreement on the part of Versadial to be observed
                or
                performed, (c) any breach by Versadial of any representation or warranty
                made by Versadial set forth in this Agreement and (d) any product
                warranty
                claim which does not relate to or is not based upon an allegation
                or claim
                that the Products do not conform to the Specifications. In case any
                action, suit or other proceeding is brought against any Jarden Plastic
                Solutions Indemnified Person for which indemnification is sought
                hereunder, Versadial, on written notice from Jarden Plastic Solutions,
                shall defend the same at Versadial’s expense by legal counsel reasonably
                satisfactory to Jarden Plastic Solutions. Versadial shall not settle
                any
                such claim, action, suit or other proceeding, unless as a part thereof
                Jarden Plastic Solutions and each Jarden Plastic Solutions Indemnified
                Person receives a complete release with respect to the claims for
                which
                indemnification have been provided.

            

    

     

    
      
        
        

      

      
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      	18.  	
              Notice.
                Any notice required to be given by the Agreement shall be in writing
                and
                sent by overnight courier, e.g., FedEx, (overnight delivery or the
                earliest delivery shall be specified) or by facsimile (with confirmation
                of receipt) to the persons identified
                below.

            

    

     

    
      
        
          	
                  Jarden
                    Plastic Solutions

                	 	
                  Versadial

                
	
                  Attn:
                    John Bailey

                	 	
                  Attn:
                    Karen Nazzareno

                
	
                  1303
                    South Batesville Road

                	 	
                  305
                    Madison Avenue

                
	
                  Greer,
                    SC 29650-2750

                	 	
                  New
                    York, NY 10165

                
	
                  Tel:
                    (864) 879-8101

                	 	
                  Tel:
                    

                
	 	 	 
	
                  With
                    a copy to:

                	 	
                  With
                    a copy to:

                
	 	 	 
	
                  Jarden
                    Corporation

                  Attn:
                    Senior Vice President & 

                  General
                    Counsel

                  2381Executive
                    Center Drive

                  Boca
                    Raton, FL 33431

                  Fax
                    (561) 912-4224

                	 	
                  Baker
                    & McKenzie LLP

                  1114
                    Avenue of the Americas

                  New
                    York, NY 10036

                  Attn:
                    Martin Eric Weisberg, Esq.

                  Fax:
                    (212) 310-8756

                

        

      

    

     

    
      	19.  	
              Expenses.
                Except as otherwise expressly provided in this Agreement, each Party
                shall
                pay its/his own cost and expenses (including, without limitation,
                attorneys’ fees and expenses) incurred in connection with the preparation
                and negotiation of this Agreement and the consummation of the transactions
                contemplated hereby.

            

    

     

    
      
        
        

      

      
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      	20.  	
              Waiver.
                Any waiver by a Party of any breach of or failure to comply with
                any
                provision or condition of this Agreement by the other Party shall
                not be
                construed as, or constitute, a continuing waiver of such provision
                or
                condition, or a waiver of any other breach of, or failure to comply
                with,
                any other provision or condition of this Agreement, any such waiver
                to be
                limited to the specific matter and instance for which it is given.
                No
                waiver of any such breach or failure or of any provision or condition
                of
                this Agreement shall be effective unless in a written instrument
                signed by
                the Party granting the waiver. No failure or delay by either Party
                to
                enforce or exercise its rights hereunder shall be deemed a waiver
                hereof,
                nor shall any single or partial exercise of any such right or any
                abandonment or discontinuance of steps to enforce such rights, preclude
                any other or further exercise thereof, at any time
                whatsoever.

            

    

     

    
      	21.  	
              Publicity.
                Versadial and Jarden Plastic Solutions shall jointly plan and coordinate
                all press releases and notices to third parties and all other publicity
                concerning this Agreement and the transactions contemplated hereby.
                

            

    

     

    
      	22.  	
              Severability.
                The Parties agree that should any provision of this Agreement be
                held to
                be invalid, illegal or unenforceable in any jurisdiction by a court
                of
                competent jurisdiction, that holding shall be effective only to the
                extent
                of such invalidity, illegally or unenforceability without invalidating
                or
                rendering illegal or unenforceable the remaining provisions hereof,
                and
                any such invalidity, illegally or unenforceability in any jurisdiction
                shall not invalidate or render unenforceable such provision in any
                other
                jurisdiction. It is the intent of the Parties that this Agreement
                be
                enforced to the fullest extent permitted by applicable
                law.

            

    

     

    
      	23.  	
              Entire
                Agreement; Amendment. This Agreement (together with the Exhibits
                attached
                hereto which form an integral part of this Agreement) contains the
                entire
                understanding and agreement between Versadial and Jarden Plastic
                Solutions
                hereto with respect to the subject matter hereof, and supersedes
                all prior
                and/or concurrent understandings and agreements, arrangements,
                negotiations and understandings between Versadial and Jarden Plastic
                Solutions (whether written or oral) relating to such subject, all
                of which
                are merged herein. No covenants, representations, warranties or
                conditions, express or implied, whether by statute or otherwise,
                other
                than as set forth in this Agreement have been made by Versadial or
                Jarden
                Plastic Solutions. This Agreement may not be amended, modified, discharged
                other than by an instrument in writing executed by each of the Parties
                hereto. Each Party has been represented by competent legal counsel
                of its
                choosing in connection with its negotiation of this Agreement, and
                therefore, this Agreement shall be interpreted and construed as if
                it were
                drafted jointly by the Parties. 

            

    

     

    
      
        
        

      

      
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      	24.  	
              Assignment.
                This Agreement is not for the benefit of any third party (other than
                the
                indemnities of a Party) and shall not be deemed to give any right
                or
                remedy to any such third party whether or not referred to in this
                Agreement. Neither Jarden Plastic Solutions nor Versadial will have
                the
                right to assign the Agreement without the prior written consent of
                the
                other Party hereto. Subject to the foregoing, this Agreement shall
                be
                binding upon, and inure to the benefit, of the Parties, their successors
                (by merger, consolidation or other similar transaction or a purchaser
                of
                all of the stock or other equity interests or assets of a Party)
                and
                permitted assigns.

            

    

     

    
      	25.  	
              Ambiguities.
                Ambiguities, if any, in the Agreement shall not be construed against
                any
                Party, irrespective of which Party may be deemed to have authored
                the
                ambiguous provision.

            

    

     

    
      	26.  	
              Agency
                and Joint Venture. The Agreement does not in any way create the
                relationship of principal and agent, joint venture or partnership
                between
                the Parties or any other form of association which would impose on
                any
                Party liability for the act or failure to act of the other Party
                or
                Parties; and under no circumstances shall one Party be considered
                to be
                the agent of the other Party. Neither Party shall act or attempt
                to act,
                or represent itself, directly or by implication, as an agent of the
                other
                Party or in any manner assume or create, or attempt to assume or
                create,
                any obligation on behalf of, or in the name of, the other Party.
                

            

    

     

    
      
        
        

      

      
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      	27.  	
              Regulatory
                Requirements -
                Manufacturing Regulatory Matters. 

            

    

     

    
      	(a)  	
              Versadial
                shall notify Jarden Plastic Solutions of any material matter related
                to
                the FDA and other relevant regulatory authorities and the Products
                and
                promptly furnish complete copies of such reports to Jarden Plastic
                Solutions in the English language. Versadial also shall advise Jarden
                Plastic Solutions of any occurrence or information that arises out
                of
                Versadial’s manufacturing activities which have adverse regulatory
                compliance and/or reporting consequences concerning a Product.
                

            

    

     

    
      	(b)  	
              Versadial
                shall be responsible for handling and responding to any appropriate
                governmental agency inspections with respect to the Products during
                the
                Term of the Agreement. Jarden Plastic Solutions shall use commercially
                reasonable efforts to provide to Versadial any information requested
                by
                any governmental agency in connection with any governmental inspection
                related to Products where legally permissible and practicable (as
                reasonably determined by Versadial based upon consultation with
                Versadial’s legal counsel). Versadial shall use commercially reasonable
                efforts to promptly advise Jarden Plastic Solutions of any requests
                by any
                governmental agency for such inspections with respect to manufacturing
                of
                Products where legally permissible and practicable (as reasonably
                determined by Versadial based upon consultation with Versadial’s legal
                counsel).

            

    

     

    
      	28.  	
              Further
                Actions. Each Party agrees to execute, acknowledge and deliver such
                further instruments, and to do all such other acts, as may be necessary
                or
                appropriate in order to carry out the purposes and intent of the
                Agreement. 

            

    

     

    
      	29.  	
              Full
                Cooperation. Versadial shall provide immediate assistance to Jarden
                Plastic Solutions in responding to any inquiry or observation from
                any
                governmental agency, and will promptly investigate and respond to
                any
                allegation the Product is improperly designed or has failed to perform
                properly.

            

    

     

    
      	30.  	
              Governing
                Law. The Agreement shall be deemed to have been made in New York,
                New
                York, and shall be governed by and construed in accordance with the
                laws
                of the State of New York, U.S.A. without regard to the conflict of
                laws
                principles which would result in the application of the substantive
                law of
                another jurisdiction. 

            

    

     

    
      
        
        

      

      
        Page
          22
          of 24

        
          

        

      

      
        
        

      

    

     

    
      	31.  	
              Arbitration.
                Any dispute or disputes arising between the Parties out of or in
                connection with this Agreement (including its interpretation, closing,
                execution, binding effect, amendment, breach, termination or enforcement)
                and which cannot be settled through correspondence and mutual good
                faith
                consultation of the Parties hereto, shall be finally settled by binding
                arbitration to be conducted in New York, New York, in accordance
                with the
                rules and procedure of the American Arbitration Association (the
“AAA”) by
                a sole arbitrator, if the Parties agree on a sole arbitrator, or
                by three
                (3) arbitrators in all other instances if they can not so agree.
                The
                arbitration or arbitrators, as applicable, shall be chosen in accordance
                with the procedures of the AAA. The award in any such arbitration
                shall be
                conclusive and binding upon the Parties and not subject to judicial
                review. Judgment upon the Award or decision rendered by the arbitrator(s)
                may be made to any court of competent jurisdiction for a judicial
                recognition of the award or an order of enforcement thereof, as the
                case
                may be. The arbitrator[s] shall be authorized to award fees and expenses
                (including without limitation of the costs of the arbitration any
                attorneys’ fees and expenses) to the Party that prevails in the
                arbitration. 

            

    

     

    
      	32.  	
              Injunctive
                Relief. Notwithstanding the provisions of Section 31 hereof, preliminary
                injunctions, temporary restraining orders and/or any similar kind
                of
                temporary relief actions, or actions for equitable relief to the
                extent
                contemplated hereby shall not be resolved by arbitration pursuant
                to
                Section 31 hereof, but instead shall be resolved, and subject to
                the
                exclusive jurisdiction of, in any court of competent jurisdiction.
                If
                furtherance of the foregoing, the Parties hereby consents to the
                jurisdiction of the Federal District Court for the Southern District
                of
                New York and the courts of the State of New York located in New York
                County and agrees not to contest the jurisdiction of such courts
                or to
                assert the venue in such courts is improper or
                inconvenient.

            

    

     

    
      	33.  	
              Effectiveness.
                In addition to the requirements of Section 34 hereof, this Agreement
                shall
                only be effective if concurrently with the execution and delivery
                of this
                Agreement, (x) the Parties execute and deliver the Amortization Agreement
                and (y) JPS, Sea Change Group LLC, a New York limited liability company,
                and Mr. Gerhard Brugger execute and deliver the Agreement, in the
                form
                thereof attached hereto as Schedule
                G.

            

    

     

    
      
        
        

      

      
        Page
          23
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      	34.  	
              Headings;
                Counterparts, etc. The section headings contained in this Agreement
                are
                inserted for reference purposes only and shall not affect in any
                way the
                meaning, construction or interpretation of this Agreement. Any reference
                to the masculine, feminine, or neuter gender shall be a reference
                to such
                other gender as is appropriate. References to the singular shall
                include
                the plural and vice versa. This Agreement may be executed in two
                (2) or
                more counterparts, and by the different Parties hereto in separate
                counterparts, each of which when executed shall be deemed to be an
                original, and all of which, when taken together, shall constitute
                one and
                the same document. This Agreement may be executed by facsimile signature
                which shall constitute a legal and valid signature for purposes hereof.
                Any reliable reproduction of this Agreement by reliable means shall
                be
                considered an original of this
                Agreement

            

    

     

    IN
      WITNESS WHEREOF, each of the parties has caused this Agreement to be duly
      executed by an authorized representative as of the day and year first written
      above.

     

    
      	
              Alltrista
                Plastics Corporation d/b/a Jarden Plastics Solutions

               

            	
              Innopump
                Inc., d/b/a Versadial

               

            
	 	 
	
              By:
                /s/ Chuck Villa

               

            	
              By:
                /s/Geoffrey Donaldson

               

            
	
              Name:
                Chuck Villa 

            	
              Name:
                Geoffrey Donaldson 

            
	
              Title:
                President 

            	
              Title:
                President/CEO 

            
	
              Date:
                4/20/07

               

            	
              Date:
                4/27/07

               

            

    

     

    [Schedules
      excluded as they only contain confidential pricing
      information.]

    
      
        
        

      

      
        Page
          24
          of 24Unassociated Document

    

    AGREEMENT

    

    AGREEMENT
      dated as of April 20, 2007 (this “Agreement”), by and between Gerhard Brugger, a
      citizen of Germany (the “Licensor”), Sea Change Group, LLC, a New York limited
      liability company (“Sea Change”), and Alltrista Plastics Corporation, d/b/a
      Jarden Plastic Solutions, an Indiana corporation (“JPS”). 

     

    For
      good
      and valuable consideration, the receipt and legal adequacy of which is hereby
      acknowledged, the parties agree as follows:

     

    1.  Reference
      is made to that certain Amended and Restated License Agreement dated as of
      January 1, 2003 between the Licensor and Sea Change (the “Master License”), with
      respect to certain patents for the manufacture and sale of certain variable
      flow
      dispensers (the “Patents”). Reference is also made to the certain Sublicense
      Agreement, dated May 1, 2005 (the “Sublicense”), by and between Sea Change and
      Innopump, Inc., a Nevada corporation, d/b/a Versadial, Inc. (“Versadial”),
      relating to the rights of Sea Change under the Master License and sublicensing
      certain rights under the master License to Versadial.

     

    2.  Sea
      Change hereby agrees that provided if JPS is not in any default in the
      performance or observance of any of its material covenants, obligations and
      agreements set forth in the Supply Agreement dated as of even date herewith
      (the
“Supply Agreement”), by and between Versadial and JPS, and the Supply Agreement
      has been terminated by JPS in accordance with the terms of the Supply Agreement
      as the result of the default of Versadial thereunder, at JPS’ sole discretion,
      Sea Change agrees to assume the Supply Agreement, and JPS, following such
      assumption, shall continue to perform its obligations under the Supply Agreement
      for the benefit of Sea Change. Notwithstanding any such assumption by Sea
      Change, Sea Change shall not be liable or responsible for any of the obligations
      of Versadial under the Supply Agreement or the Amortization Agreement that
      existed prior to such assumption, except for any amounts owing by Versadial
      to
      JPS in respect of (x) the unamortized portion of the Tooling under the
      Amortization Agreement and (y) Products manufactured
      by JPS pursuant to Purchase Orders issued by
      Versadial
      under
      the Supply Agreement,
      which
      have not been paid for by Versadial. Such amounts, if any, shall be paid to
      JPS
      by allowing JPS to recoup such amounts, from future amounts owed by Sea Change
      with respect of Products shipped by JPS; provided that there shall be deducted
      from the amounts payable to JPS any royalty payments that would have been due
      to
      Sea Change under the Sublicense in respect of the sale of such Products. Upon
      the assumption of the Supply Agreement, Sea Change shall be subrogated to JPS’
claims against Versadial with respect to the
      unpaid amounts assumed by Sea Change pursuant to the immediately preceding
      sentence. The subrogation of such claims shall not limit any other rights of
      JPS
      against Versadial under the Supply Agreement with respect to any matter
      occurring prior to Sea Change’s assumption of the Supply Agreement.

     

    
      
        
        

      

      
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          1 of
          7

        
          

        

      

      
        
        

      

       

    

    3.  Notwithstanding
      anything set forth in Section 2 hereof, if Sea Change decides not to market
      and
      sell the Products JPS shall be entitled to continue manufacturing the Products
      under the grant of sub-license from Sea Change and assume the marketing and
      sale
      of the Products for the remainder of the Term of the Supply Agreement; provided
      that (i) JPS sells the Products to customers on the same cost structure that
      was
      being used by Versadial; (ii) JPS pays Sea Change the amount of the royalty
      that
      will have been payable to Sea Change by Versadial in respect of such future
      sales; and (iii) all other amounts received by JPS (including, without
      limitation, amounts that would have constituted profit margin to Versadial)
      shall be retained by JPS and credited to amounts owing under the Amortization
      Agreement; and provided, further, that after the amounts owing in respect of
      (x)
      the unamortized portion of the Tooling under the Amortization Agreement and
      (y)
      unpaid amounts in respect of Products manufactured for Versadial pursuant to
      Purchase Orders issued by Versadial under the Supply Agreement have been paid,
      all such additional amounts in the nature of profit margin shall be paid to
      Sea
      Change.

     

    
      
        
        

      

      
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          2 of
          7

        
          

        

      

      
        
        

      

    

     

    4.  The
      Licensor hereby agrees that, provided that JPS is not in any default of any
      of
      its material covenants, obligations or agreements set forth in the Supply
      Agreement, and the Supply Agreement has been terminated by JPS in accordance
      with the terms of the Supply Agreement as a result of a default by Versadial
      and/or Sea Change thereunder, and at JPS’ sole discretion, the Licensor or an
      entity controlled by the Licensor shall grant JPS the intellectual property
      rights necessary to manufacture in accordance with the Supply Agreement and
      the
      Licensor shall assume the Supply Agreement , and JPS, following such assumption,
      shall continue to perform its obligations under the Supply Agreement for the
      benefit of the Licensor or such entity. Notwithstanding any such assumption
      by
      the Licensor, that the Licensor shall not be liable or responsible for any
      of
      the obligations of Versadial or Sea Change under the Supply Agreement or the
      Amortization Agreement that existed prior to such assumption, except for any
      amounts owing by Versadial or Sea Change to JPS in respect of (x) the
      unamortized portion of the Tooling under the Amortization Agreement and (y)
      Products manufactured
      by JPS pursuant to Purchase Orders issued by
      Versadial
      or Sea
      Change
      under
      the Supply Agreement,
      which
      have not been paid for by Versadial or Sea Change. Such amounts, if any, shall
      be recouped from future amounts owed by the Licensor or such entity with respect
      to Products shipped by JPS; provided that there shall be deducted from the
      amounts payable to JPS any royalty payments that would have been due to Sea
      Change under the Sublicense in respect of the sale of such Products. Upon the
      assumption of the Supply Agreement, the Licensor shall be subrogated to JPS’
claims against Versadial or Sea Change with respect to the
      unpaid amounts assumed by the Licensor pursuant to the immediately preceding
      sentence. The subrogation of such claims shall not limit any other rights of
      JPS
      against Versadial or Sea Change under the Supply Agreement with respect to
      any
      matter occurring prior to the Licensor’s assumption of the Supply
      Agreement.

     

    
      
        
        

      

      
        Page
          3 of
          7

        
          

        

      

      
        
        

      

    

     

    5.  If
      the
      Licensor or such entity does not intend to market and sell the Products during
      the then remaining Term of the Supply Agreement as contemplated by Section
      4
      hereof, JPS shall be entitled to continue manufacturing the Products and assume
      the marketing and sale of the Products until the amounts owing to JPS under
      the
      Amortization Agreement have been paid; provided that (i) JPS sells
      the
      Products to
      customers on the basis of the same cost structure that was being used by
      Versadial; (ii) JPS pay the Licensor the amount of the royalty that would have
      been payable to Sea
      Change
      by
      Versadial in respect of such future sales;
      and;
      (iii)
      all other amounts received by JPS (including, without limitation, amounts that
      would have constituted profit margin to Versadial) shall be retained by JPS
      and
      credited to amounts owing under the Amortization Agreement; and
      provided, further,
      that
      after the amounts owing in respect of (x) the unamortized portion of the Tooling
      under the Amortization Agreement and (y) unpaid amounts
      in respect
      of
      Products manufactured
      by JPS, pursuant to Purchase Orders issued by Versadial or Sea Change under
      the
      Supply Agreement,
      have
      been paid, all such additional amounts in nature of the profit margin shall
      be
      payable to the Licensor.

     

    
      
        
        

      

      
        Page
          4 of
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    6.  If
      the
      Licensor or an entity controlled by the Licensor assumes the Supply Agreement
      as
      contemplated by Section 4 hereof or JPS assumes the sales and marketing of
      the
      Products as contemplated by Section 5 hereof, the Licensor shall grant a license
      to JPS, on a non-exclusive basis, of the intellectual property rights necessary
      to manufacture the Products in accordance with the Supply Agreement for the
      remainder of the Term of the Supply Agreement. 

     

    7.  This
      Agreement may not be amended, modified or waived, except by an instrument in
      writing signed by each of the parties hereto. This Agreement shall be binding
      upon and shall inure to the benefit of the parties hereto and their respective
      successors and assignees (which in the case of JPS, shall be limited to its
      permitted assignors under the Supply Agreement).

     

    8.  This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of New York, without regard to any of its conflicts of law provisions
      which would result in the application of the laws of another
      jurisdiction.

     

    
      
        
        

      

      
        Page
          5 of
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    9.  Capitalized
      terms used herein which are not defined in this Agreement, shall have the
      meanings herein which are given to such terms in the Supply
      Agreement.

    

    [The
      Remainder of this Page Has Been Intentionally Left Blank] 

     

    
      
        
        

      

      
        Page
          6 of
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    IN
      WITNESS WHEREOF, the parties have executed this Agreement as of date first
      above
      written.

     

    /s/
      Gerhard Brugger

    Gerhard
      Brugger

    

    

    SEA
      CHANGE GROUP, LLC

    

    

    By:/s/
      Geoffrey Donaldson

    Name:
      Geoffrey Donaldson

    Title:
      Manager

    

    

    

    ALLTISTRA
      PLASTICS CORPORATION

    d/b/a
      JARDEN PLASTIC SOLUTIONS

    

    

    By:/s/Chuck
      Villa

    Name:
      Chuck Villa

    Title:
      President

     

    
      
        
        

      

      
        Page
          7 of
          7

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