Document:

Strategic Product Development and Supply Agreement

 Exhibit 10.1 
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 Under 17 C.F.R. §§ 200.80(b)(4) 
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 Execution Copy 
 STRATEGIC PRODUCT DEVELOPMENT AND SUPPLY AGREEMENT 
 THIS STRATEGIC PRODUCT DEVELOPMENT AND SUPPLY AGREEMENT
(“Agreement”) is entered into as of March 16, 2009 (the “Execution Date”), between TARGUS GROUP INTERNATIONAL, INC., a Delaware corporation (“Targus”), and COMARCO, Inc., a California
corporation (“Comarco”), with reference to the following facts: 
 A. Comarco offers for sale various power supplies,
including those that are slim and/or light in format and/or contains output programming capability. 
 B. Comarco desires to sell certain of
such products to Targus as set forth on Exhibit A attached hereto, as the same may be amended from time to time. 
 C. Notwithstanding their
execution of this Agreement as of the Execution Date, the parties desire to delay the effectiveness of this Agreement until May 4, 2009 (the “Effective Date”), except as expressly provided in Section 11 below. 

NOW, THEREFORE, in consideration of the foregoing facts and the mutual promises set forth below, the parties agree as follows: 
 1. Supply and Exclusivity. 
 1.1 Product. As used herein, “Product” means any Exclusive Product, any other power supply product that is slim and/or light in format, and/or contains output programming capability offered for sale by Comarco or any
other product offered for sale by Comarco from time to time that Targus elects to purchase from Comarco subject to the terms and conditions of this Agreement and which is listed on Exhibit A attached hereto (as the same may be amended from time to
time); and “Exclusive Product” means (i) any “Original Exclusive Product” and any “New Exclusive Product” (as such terms are defined in Section 1.2.1 below). Comarco hereby agrees to sell the Products
to Targus and Targus hereby agrees to buy the Products from Comarco, on and subject to the terms and conditions contained in this Agreement. 
 1.2 Exclusivity. 
 1.2.1 After the Comarco Transition Period (as defined in
Section 1.8), except for the “Comarco Exclusive Customers” (as defined in Section 1.2.3), Comarco will manufacture and sell to Targus, on an exclusive basis (i) the Products listed on Exhibit A as 

 
of the Execution Date on the terms set forth herein (collectively, the “Original Exclusive Products”), (ii) any new power supply
product that is slim and/or light in format, and/or contains output programming capability developed by Comarco from time to time after the Execution Date until the expiration or termination of this Agreement that is substantially similar to an
Original Exclusive Product but that does not have materially different specifications as compared to the Original Exclusive Product (for example, a different color or shape) which product shall be sold to Targus at the same price as the Original
Exclusive Product; (iii) any New Slim/Light/Programmable Product (subject to Section 1.2.2 below); (iv) any new power supply product developed by Comarco from time to time after the Execution Date until the expiration or termination
of this Agreement that is substantially similar to a New Slim/Light/Programmable Product that becomes an Exclusive Product hereunder but that does not have materially different specifications as compared to the New Slim/Light/Programmable Product
(for example, a different color or shape) which product shall be sold to Targus at the same price as the New Slim/Light Programmable Product; and (v) any other Products that the parties mutually agree to be sold by Comarco to Targus and
purchased by Targus from Comarco on an exclusive basis pursuant to Section 1.5 and 1.7 below ((ii) through (v) collectively, the “New Exclusive Products”). Comarco’s obligations to sell Products exclusively to Targus
as described in this Agreement are sometimes collectively referred to herein as “Comarco’s Exclusive Obligations.” 
 1.2.2 If Comarco develops any New Slim/Light/Programmable Product (defined in Section 1.2.3), then Comarco will notify Targus in writing of such New Slim/Light/Programmable Product, and Targus will notify Comarco in writing whether or
not Targus desires to purchase such New Slim/Light/Programmable Product. If Targus desires to purchase any New Slim/Light/Programmable Product (other than a New Slim/Light/Programmable Product developed by Comarco), including from a third party,
Targus will notify Comarco in writing of the requirements for such New Slim/Light/Programmable Product, and Comarco will notify Targus in writing whether or not Comarco desires to supply such New Slim/Light/Programmable Product. If Targus desires to
purchase any New Slim/Light/Programmable Product developed by Comarco or Comarco desires to supply any New Slim/Light/Programmable Product proposed by Targus, the parties will negotiate exclusively in good faith the pricing that would be competitive
in the marketplace and specifications for such New Slim/Light/Programmable Product and the parties will amend Exhibit A to add such Product upon their written agreement of the pricing and specifications for the same. If (i) despite having
negotiated in good faith, the parties cannot come to an agreement on the pricing or the specification within [...***...] days after Targus’ notice, (ii) Targus does not notify Comarco within [...***...] days after
Comarco’s notice of the developed New Slim/Light/Programmable Product that Targus desires to purchase such New Slim/Light/Programmable Product, or (iii) Comarco does not notify Targus within [...***...] days after Targus’ notice
of the proposed New 

  

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Slim/Light/Programmable Product that Comarco desires to supply such New Slim/Light/Programmable Product, then such New Slim/Light/Programmable Product will
not become a New Exclusive Product and shall automatically be excluded from Sections 1.2.1 and 1.6 hereunder (“Excluded Product”). After such Product becomes an Excluded Product hereunder, Comarco may engage in discussions and
negotiations with and enter into an agreement with any third party to supply the Excluded Product to such third party, provided that the pricing offered to such third party may not be more favorable to such third party than the pricing last offered
to Targus by Comarco, and Targus may engage in discussions and negotiations with and enter into an agreement with any third party to purchase a product that is identical or substantially similar to the Excluded Product, provided that the pricing
offered to such third party may not be more favorable to such third party than the pricing last offered by Targus to Comarco. 
 1.2.3 For purposes of this Agreement, 
 (a) a power supply product is “slim and/or light in format”
if it has a thickness of less than [...***...] inches and/or weighs less than [...***...] ounces; 
 (b) a
power supply contains “output programming capability” if the adapter is capable of outputting a voltage that can be programmed by the user to a fixed or variable value from [...***...] volts, this may be accomplished by
removing and replacing a connector on the output of the adapter or by selecting a value by other means such as a multiple position switch and/or any combination of these methods, and this does not include adapters that are factory set to a
predetermined value and cannot be reprogrammed by the user; 
 (c) a “Comarco Exclusive Customer” shall mean
a third party original computer equipment manufacturer that sells products purchased from Comarco under such manufacturer’s own brand name (“OEM”); 
 (d) a “New Slim/Light/Programmable Product” shall mean a future power supply product that is slim and/or light in
format, and/or contains output programming capability that has a materially different specification as compared to the Original Exclusive Products. By way of example, any future power supply product that is slim and/or light in format, and/or
contains output programming capability that may be smaller in size, has a different color, shape or packaging, and/or includes stand-by power is not a New Slim/Light/Programmable Product (and shall instead be deemed a product included in the
category described in clause (ii) of Section 1.2.1 above). By way of further example, any future power supply product that is slim and/or light in format and/or contains output programming capability that may be solar powered or produces
different power output (e.g., [...***...] watts) is a New Slim/Light/Programmable Product. 
  

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 1.2.4 Notwithstanding anything to the contrary contained herein, Comarco shall not, and
shall cause its Affiliates not to, sell any products that incorporate any Targus Intellectual Property (as defined below) to any OEMs or any other third parties during or after the expiration or termination of this Agreement. Without limiting the
generality of the foregoing, [...***...] shall not be deemed OEMs. After the Comarco Transition Period, except for the Comarco Exclusive Customers and subject to Section 1.2.2, Comarco will manufacture and sell, and will cause its
Affiliates to manufacture and sell, the Exclusive Products only to Targus and Comarco will not, and cause its Affiliates not to, manufacture, grant any other parties the right to manufacture, sell or distribute, directly or indirectly, to any other
party any of such Exclusive Products or any products substantially similar to such Products, provided that Comarco and its Affiliates may grant non-exclusive patent licenses to third parties or enter into cross patent license agreements to the
extent necessary in connection with any settlements of patent infringement claims or suits; provided that if such third party is a Major Competitor of Targus, Targus shall have the right to terminate its exclusive purchase obligations under
Section 1.6 with prior written notice to Comarco, in which case, Comarco’s exclusive supply obligation under Section 1.2 shall also terminate. Additionally, in no event shall Comarco or its Affiliates, directly or indirectly,
manufacture or sell to any third party the Exclusive Products or any products substantially similar to the Exclusive Products under Comarco’s or any of its Affiliates’ brand name. 
 1.3 Targus Sales. Targus will use commercially reasonable efforts to promote and market the Products, provided that Targus may not
promote, market, and/or sell the Products to Comarco Exclusive Customers, except Targus may promote, market, and/or sell Targus-branded Products to Comarco Exclusive Customers. Notwithstanding anything to the contrary contained in this Agreement,
Targus shall have the right to sell and distribute the Products to third parties at such prices and on such other terms as it deems appropriate, in its sole discretion. Comarco’s Exclusive Obligations shall terminate if Comarco delivers written
notice to Targus that Targus has failed to substantially perform its obligations under this Section 1.3 and Targus fails to cure such failure within [...***...] days thereafter; and in which case, Comarco may supply the Exclusive Products
to other customers. If Comarco’s Exclusive Obligations terminate pursuant to this Section 1.3, Targus’ Exclusive Obligations (as defined in Section 1.6 below) shall automatically terminate [...***...] months after the
termination of Comarco’s Exclusive Obligations, or the expiration or termination of this Agreement, if sooner. 
 1.4
Channel Opportunities. If Comarco identifies any market opportunity, which may be in the form of a specific geography (which geographies shall mean North America, South America, Australia, Asia-Pacific, and EMEA (i.e., Europe, Middle-East,
and Africa) for purposes of this Agreement), or sales channel (which sales channels shall mean retail, e-tail, enterprise, and distribution for purposes of this Agreement) that Targus fails to enter or exits or substantially exits after the
Effective Date(“Channel Opportunity”), Comarco may notify Targus of such Channel Opportunity in writing, along with any relevant information which may be in the 

  

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possession of Comarco that is useful for Targus to assess the merits of such Channel Opportunity. The parties will thereafter collaborate in good faith for a
period of [...***...] months (the “Collaboration Period”) regarding the potential of such Channel Opportunity, taking into consideration applicable Governmental Requirements and market requirements and any modifications to the
Products necessary to successfully market the Products in the Channel Opportunity. If Targus notifies Comarco after the expiration of the Collaboration Period that it elects not to enter or re-enter the Channel Opportunity with respect to the
Products that Comarco proposed during the Collaboration Period to be marketed in the Channel Opportunity (the “Channel Opportunity Products”), then Comarco shall thereafter have the right to market and sell, directly or through a
distributor, the Channel Opportunity Products and products that are substantially similar in form, fit and function to the Channel Opportunity Products into such Channel Opportunity. If Targus notifies Comarco in writing that it intends to exit from
any Channel Opportunity, Comarco may sell, directly or through another reseller, the Products and/or Exclusive Products into such Channel Opportunity. If Targus thereafter sends notice to Comarco that it desires to re-enter any Channel
Opportunity, Comarco shall in good faith negotiate the terms and conditions for Targus’ re-entry into such Channel Opportunity, taking into consideration any obligation Comarco may have with another reseller. 
 1.5 New Products. If Comarco develops any new power supply product (other than a power supply product described in clauses
(i) – (iv) of Section 1.2.1 or 1.2.2 above) (the “New Product”) for sale, Comarco will notify Targus of such New Product in writing, including detailed specifications for such product. Within [...***...]
days after receiving such notice, Targus will notify Comarco in writing whether or not Targus is interested in purchasing such New Product under the terms of this Agreement. If Targus advises Comarco in such written notice that it is not interested
in purchasing such New Product under the terms of this Agreement, Comarco may sell the New Product to third parties. If Targus is interested in purchasing and distributing such New Product under the terms of this Agreement, the parties will
negotiate in good faith, the pricing and specifications and terms for exclusivity (if any) for such New Product and upon reaching an agreement, the parties will amend Exhibit A to add such New Product. If the parties do not reach such an agreement
and amend Exhibit A within [...***...] days after Targus’ notice, then Comarco may engage in discussions and negotiations with and enter into an agreement with any third party to supply the New Product to such third party, provided that
the pricing offered to such third party may not be more favorable to such third party than the pricing last offered to Targus by Comarco. 
 1.6 Exclusive Supply. Subject to Section 1.2.2, Targus will, and cause its Affiliates to, purchase all Exclusive Products exclusively from Comarco and will not, and will cause its Affiliates not to,
purchase any Exclusive Products or any products substantially similar to Exclusive Products from a third party supplier. Notwithstanding anything to the contrary contained herein, in no event shall any fixed voltage power 

  

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adaptors (regardless of size or weight) or low power charging systems be deemed an Exclusive Product hereunder. A product is considered substantially similar
to an Exclusive Product, if it does not have a materially different specification as compared to the Exclusive Product. Targus’ obligations under this Section 1.6 shall terminate if Targus delivers written notice to Comarco that Comarco
has failed to supply the Products substantially as required under this Agreement in terms of quantity, quality and delivery dates (taking into consideration all of the Products being sold to Targus by Comarco at such time in their entirety) and
Comarco fails to cure such failure within [...***...] days thereafter; and in which case, Targus may purchase the Exclusive Products from another source. Targus’ obligations to purchase Exclusive Products exclusively from Comarco under
this Section 1.6 are sometimes collectively referred to herein as “Targus’ Exclusive Obligations.” If Targus’ Exclusive Obligations terminate pursuant to this Section 1.6, Comarco’s Exclusive Obligations shall
automatically terminate [...***...] months after the termination of Targus’ Exclusive Obligations, or the expiration or termination of this Agreement, if sooner. 
 1.7 Other Power Supply Products. If Targus desires to purchase any power supply product, other than a power supply product that is
slim and/or light in format, and/or contains output programming capability, (“Other Power Product”) from a supplier, Targus will notify Comarco in writing, including providing a description of and requirements for such Other Power
Product. Within [...***...] days after receiving such notice, Comarco will notify Targus whether or not Comarco is interested in supplying such Other Power Product under the terms of this Agreement. If Comarco does not deliver written notice
to Targus within such [...***...] -day period that it is interested in supplying such Other Power Product under the terms of this Agreement, Targus may purchase such Other Power Product from another supplier. If Comarco is interested in
supplying such Other Power Product, then within [...***...] days after such notice, the parties will negotiate exclusively with each other, in good faith, the pricing and specifications and terms for exclusivity (if any) for such Other Power
Product and upon reaching an agreement, the parties will amend Exhibit A to add such Other Power Product. If the parties do not reach such an agreement and amend Exhibit A within such [...***...]-day period, then Targus may engage in
discussions and negotiations with and enter into an agreement with any third party to supply the Other Power Product to Targus, provided that the pricing offered to such third party may not be more favorable to such third party than the pricing last
offered by Targus to Comarco. 
 1.8 Exclusivity Transition Period. For purposes of this Agreement, “Comarco
Transition Period” shall mean the period beginning on the Effective Date and ending on the date on which Comarco delivers to the F.O.B. point referenced in Exhibit A the first shipment of Exclusive Products purchased by Targus
pursuant to terms and conditions of this Agreement. Notwithstanding anything to the contrary contained herein, during the Comarco Transition Period, Comarco shall not be subject to the exclusivity limitations set forth in Section 1.2 above,
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Exclusive product included in the [...***...] line. Additionally, notwithstanding anything to the contrary contained herein, Targus shall have the
right to continue to sell and ship any products purchased or ordered from any third party prior to the Effective Date, and Comarco shall have the right to continue to sell and ship any products to any third party prior to the expiration of the
Comarco Transition Period. 
 1.9 Development and Supply Milestones. Comarco agrees to supply the [...***...]
line of Products in accordance with the milestones set forth on Exhibit A, subject to (i) any request for extensions approved by Targus from time to time, which approval shall not be unreasonably withheld, and (ii) Comarco receiving from
Targus in a timely manner all information, materials and cooperation required for Comarco to complete the development and manufacture of the [...***...] line of Products. To the extent any delay is caused by Targus’ failure to provide the
required information, materials, and/or cooperation, Comarco will notify Targus of such failure in writing and Comarco will be entitled to an extension of time equal to the number of days delayed by Targus in providing the required information,
materials, and/or cooperation. In no event will any products be shipped to Targus prior to May 5, 2009. 
 2. Documentation and
Packaging. As used herein, “Documentation” shall mean all manuals, instructions and other materials, whether in written or electronic form, provided by Comarco or its manufacturer for the use of the Products by customers, which
describe the operation and maintenance of the Products. Targus shall have the right to approve the packaging and Documentation for the Products. The Products supplied to Targus will be packaged and branded with the “Targus” name only. In
the event the parties do not complete Exhibit A concurrently with the execution of this Agreement for any reason, such failure shall not affect the validity of this Agreement. In such event, the parties shall have the right to attach this exhibit
subsequent to the execution of this Agreement provided an authorized individual on behalf of each party signs the exhibit. Exhibit A may be updated from time to time in the same manner. If the parties fail to attach Exhibit A for any Products
supplied by Comarco to Targus from and after the date hereof, then the terms and conditions of this Agreement shall be deemed incorporated into the purchase order for such Products and the Products shall be deemed sold to Targus pursuant to the
terms and conditions of this Agreement. 
 3. New Product Requests. Comarco will, at Targus’ request cooperate with Targus in the
design, development and sale to Targus of new products or the change in design or specifications of a Product in accordance with the specifications outlined by Targus (the “Custom Products”). Such support shall be for all regions of
Targus and its Affiliates. Any design, development and sale of any Custom Product by Comarco to Targus will be subject to mutual agreement of the parties in writing, including any terms regarding intellectual property rights pertaining to the Custom
Product. Payment of any cost incurred as a result of such development or change of design done at Targus’ request shall be 

  

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allocated as the parties mutually agree upon in writing. Such support shall be for all regions of Targus and its affiliated entities. Comarco will promptly
analyze Targus’ request for Custom Products and prepare a quote for Targus for such design and development. Comarco will use its commercially reasonable, good faith efforts to be responsive to Targus’ requests for the design and
development of Custom Products; provided, however Comarco agrees that it is obligated to design and develop any improvement to or enhancement of any Exclusive Product requested by Targus if such product is then being supplied by Comarco to Targus
hereunder (the “Updated Product”) provided such design and development is technologically feasible and the parties mutually agree to the allocation of the design and development costs for the same. The parties will negotiate in good
faith, the pricing and specifications and initial delivery dates for such Updated Product and upon reaching an agreement, the parties will amend Exhibit A to add such Updated Product as an Exclusive Product. Any Custom Product will be supplied by
Comarco to Targus on an exclusive basis. 
 4. Manufacture of Products. Comarco shall provide Targus with details of the manufacturing
facilities proposed to be used for the manufacture of the Products (whether or not they are Comarco’s own facilities or are those of independent sub-contractors). Notwithstanding Comarco’s use of any independent sub-contractors, Comarco
will remain solely and exclusively liable to Targus for the proper performance of any and all of its obligations under this Agreement. Comarco and Targus will collaborate in identifying any sub-contractor to be used in manufacturing any Product
under this Agreement. Comarco may not change the manufacturing facilities without the prior written approval of Targus, which approval will not be unreasonably withheld. If Comarco uses any independent sub-contractor to manufacture the Products,
Comarco shall deliver to Targus an agreement in the form of Exhibit B attached hereto executed by such sub-contractor agreeing to comply with the limitations on usage of Targus’ Marks and Intellectual Property (as defined in Section 8.1
below) and acknowledging Targus’ exclusivity as set forth herein prior to the sub-contractor commencing the manufacture of the Products. Comarco will ensure (and, where appropriate procure) that Targus may, on giving reasonable prior written
notice, by its nominated representative(s) during normal business hours, both during the Term and for a period of [...***...] days after termination of this Agreement, have access to and enter upon the Manufacturing Facilities to monitor
compliance of all manufacturing and packing operations of Comarco or its sub-contractor, as applicable, with all the terms of this Agreement, and for auditing purposes in a manner that is not unreasonably disruptive to the operation of the
Manufacturing Facilities. Comarco will comply with all reasonable directions and instructions given by Targus for the purpose of such monitoring and auditing. 
 5. Purchases. Any purchases under this Agreement shall be effected by submission of a written purchase order from Targus. A purchase order is not valid unless transmitted by an authorized representative of
Targus. In the event of any conflict between the terms of this Agreement and the terms of any purchase order, the terms of this Agreement shall prevail. Unless Targus has any undisputed outstanding balance and has failed to pay the same within
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any purchase order submitted by Targus that is consistent with the terms of this Agreement; subject to adjustments allowed herein. Purchase orders submitted
to Comarco in accordance with this Section 5 shall be deemed accepted within [...***...] business days of Comarco’s receipt of the purchase order unless Comarco delivers a written rejection to Targus within such [...***...]
business day period. Comarco and Targus agree that a purchase order sent to Comarco by confirmed facsimile or electronic transmission shall be an acceptable means of purchase order delivery. Notwithstanding anything to the contrary contained herein,
Targus reserves the right to reject (as provided in Section 7.3), dispute, or cancel (as provided in Section 5.4 or 12.2) any shipment due to Comarco’s failure to meet Targus’ requirements identified herein. 
 5.1 Prices. The prices for the Products shall be determined as set forth on Exhibit A. Any pricing changes shall be mutually
agreed to by the parties in writing. All prices are [...***...], including [...***...], necessary to deliver Products to the F.O.B. point referenced in Exhibit A. Prices do not include, and Targus will be solely responsible for,
[...***...] necessary to deliver Products to any delivery destination which are incurred after Comarco has delivered the Products to a F.O.B. point referenced in Exhibit A. 
 5.2 Price Adjustments. Comarco agrees to keep the prices of the Products competitive in the marketplace. Comarco and Targus
agree to cooperate with each other to adjust the pricing of any Product on a [...***...] basis so that Targus remains competitive in the marketplace and at the same time ensure that both Comarco and Targus make a reasonable margin on the
Products, and Comarco agrees to review prices on a calendar quarterly basis with Targus in order to do so. Notwithstanding the foregoing, any change in pricing must be subject to the mutual written agreement of the parties. 
 5.3 Delivery Terms and Lead-times. Unless otherwise noted on the purchase order accepted by Comarco, all shipments shall be F.O.B.
point referenced in Exhibit A. “F.O.B.” and any other shipping term used but not otherwise defined herein shall have the meaning as set forth in 2000 Incoterms published by the International Chamber of Commerce. Comarco agrees to supply
the Products to Targus within [...***...] calendar days lead-time from acceptance of the purchase order for quantities to be delivered in such [...***...] day period that are not greater than those reflected on the most recent forecast
and the additional quantities permitted under this Section 5.3. Comarco shall inform Targus immediately (but not less than [...***...] prior to shipment) of any failure to ship any part of an order or the exact Products
called for by an order on the shipment date specified. Acceptance of any Products shipped after the specified shipment date or acceptance of any partial shipment shall not be construed as a waiver of any of Targus’ rights resulting from the
late shipment. Targus may (i) increase the quantity ordered by an additional [...***...] percent ([...***...]%) up to [...***...] 

  

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days before the delivery date specified in the relevant order; (ii) increase the quantity ordered by an additional [...***...] percent
([...***...]%) up to [...***...] days before the delivery date specified in the relevant order; and (iii) increase the quantity ordered by an additional [...***...] percent ([...***...]%) up to [...***...] days
prior to the delivery date specified in the relevant order. Targus may, by notifying Comarco in writing, vary the scheduled delivery date(s) for any order for up to [...***...] days prior to the delivery date originally specified in the
relevant order. Comarco will comply with Targus’ instructions regarding the freight carrier and means of transportation or routing, as set forth in Targus’ freight guidelines delivered by Targus to Comarco from time to time, unless it
advises Targus in writing of the reasons why such instructions are commercially unreasonable. If Targus fails to provide shipping instructions, Comarco shall select the best available carrier, on a commercially reasonable basis. Comarco shall
arrange to have all Products suitably packaged in accordance with good commercial practices. 
 5.4 Late, Early, Partial or
Excess Deliveries. Targus is not obligated to accept early deliveries by more than [...***...] days, late deliveries by more than [...***...] weeks or excess deliveries, unless approved by Targus in writing in advance. If Comarco
does not ship any Product order on a timely basis such that the Products will arrive at the specified destination more than [...***...] days late, Comarco agrees to ship such Products by air and to be solely responsible for any additional
freight costs and expenses for such air shipment in excess of what such shipment would have cost to ship by standard marine or other delivery method. Additionally, if Comarco does not ship any Product order on a timely basis such that the Products
will arrive at the specified destination more than [...***...] days late, then Comarco shall pay Targus a penalty fee of [...***...] percent ([...***...]%) of the invoiced amount of the delayed shipment in addition to shipping the
Products by air. Such penalty, Comarco’s obligation to ship by air and right of cancellation are Targus’ exclusive remedies for any late deliveries of the Products by Comarco, subject to (i) Targus’ right to terminate its
exclusivity obligations under Section 1.6 if Comarco is unable to supply the Exclusive Product substantially as required under this Agreement in terms of quantity, quality and delivery dates; and (ii) Targus’ right to terminate this
Agreement for a material breach under Section 12.1. 
 5.5 Title and Risk. Title to the Products shall pass to
Targus or Targus’ Affiliate specified in the relevant purchase order upon delivery of the Products to the designated carrier at the point specified in Exhibit A as provided in Section 5.3. All risk of loss in the Products will pass to
Targus upon delivery of the Products to the designated carrier at the point specified in Exhibit A as provided in Section 5.3. 
  

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 5.6 Forecasts. On a
[...***...] basis by the first (1st) business day of each [...***...], Targus will supply Comarco with a [...***...]-week
non-binding rolling forecast for planning purposes only; provided that Targus agrees to include supporting binding purchase orders (but subject to adjustment as provided herein) equivalent to not less than the first [...***...]
weeks with each forecast. On a [...***...] basis by the first (1st) business day of each [...***...], Comarco will supply Targus
with a [...***...]-week production schedule.  
 5.7 Payment Terms. Invoices for Products shipped F.O.B.
shall be payable net [...***...] days from the date of invoice, which invoice will not be issued before delivery of the Products to the F.O.B. point referenced in Exhibit A as provided in Section 5.3. Unless otherwise agreed
to by the parties, all payments hereunder shall be in U.S. Dollars. Payment terms shall be offered and honored for all Targus Affiliates globally under the same terms and conditions set forth herein. In the event of any late payment for undisputed
amounts owing by Targus that is not cured in [...***...] days after notice from Comarco to Targus of nonpayment, Comarco may decline to make any further shipments of Products, without in any way affecting its rights under this Agreement or
waiving any and all other remedies it may have for any breach hereof. 
 5.8 Taxes. The prices to Targus set
forth in this Agreement or in an order include, and Comarco shall be responsible for and indemnify Targus for payment of all sales, use, VAT and other taxes, fees and duties (collectively, “Taxes”) payable through the point of
shipment, whether or not set forth separately. To the extent any Taxes paid with respect to the Products are refunded to Comarco, then Comarco shall immediately pay Targus the amount of such refund. Targus shall be responsible for and indemnify
Comarco for payment of Taxes after delivery at the point of shipment. The parties shall endeavor to eliminate any United States federal withholding tax (“Withholding Tax”) that might be levied upon the sale of Products under this Agreement
(including the completion of all appropriate forms, documents and paperwork required under any applicable tax treaty to reduce or eliminate such Withholding Tax). If applicable law requires Targus to withhold any taxes levied by the United States on
payments to be made pursuant to this Agreement, Targus shall be entitled to deduct such Withholding Tax from the payments due Comarco hereunder. 
 5.9 Returns. Targus may, from time to time during the Term or thereafter during the Warranty Period (defined in Section 13), return to Comarco Products that do not conform to the warranties provided in
Section 13(a) through (d), are damaged prior to delivery as required under Section 5.3 or which are rejected under Sections 7.2, or 7.3 below in accordance with the following procedures: 
 (a) Prior to returning any Products to Comarco, Targus shall first submit a request (a “Request”) to Comarco for a return
merchandise authorization number (“RMA”). Each Request shall include the product sku number and the return quantity. 
  

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 (b) Comarco shall issue a RMA to Targus or otherwise authorize Targus to return the
Products identified in the Request (a “Return Authorization”) within [...***...] business days of the date of Targus’ Request. Once Targus receives a Return Authorization from Comarco, Targus may return the non-conforming,
damaged or rejected Products at Comarco’s expense to Comarco’s address set forth herein or at such other place as directed by Comarco. 
 (c) Upon Targus’ receipt of the Return Authorization, Comarco (as Targus’ exclusive remedy [subject to (i) Targus’ right to terminate its exclusivity obligations under Section 1.6 if Comarco
is unable to supply the Exclusive Product substantially as required under this Agreement in terms of quantity, quality and delivery dates; and (ii) Targus’ right to terminate this Agreement for a material breach under Section 12.1]),
will credit the purchase price paid for the Product returned against any Comarco’s outstanding invoice. If Comarco does not issue a Return Authorization within such [...***...] business day period, Targus may take a credit for the total
purchase price of units that Targus has requested to return against any Comarco outstanding invoice with written notice to Comarco. If Comarco does not have an open invoice with Targus when Targus is entitled to a credit hereunder, Comarco shall
issue a refund to Targus for such amount. If Targus has not received a Return Authorization within [...***...] days of the date of Targus’ Request, Targus may dispose of such Products in any manner it deems appropriate with written notice
to Comarco. 
 (d) Supplier may not resell any returned Products to third parties. 
 5.10 Product Discontinuation. Any discontinuation of Products that are supplied to Targus by Comarco hereunder shall be on such
terms and conditions as are mutually agreed to by the parties. 
 6. Ongoing Support. 
 6.1 First Level Support. As used herein, “First Level Support” shall mean direct user support provided by Targus
to end-users of the Products consisting solely of general, non-technical assistance by telephone or e-mail in resolving problems with the Product which require no changes or modifications to the Products. Targus acknowledges and agrees that it is
responsible for, and will provide all First Level Support for the Products and any Product training that may be required for Targus’ dealers and sales representatives. 
  

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 6.2 Second Level Support. For purposes of this Agreement, “Second Level
Support” shall mean support provided by Comarco to Targus for Product problems and issues that have not been or could not reasonably be resolved through First Level Support. Comarco agrees to provide Targus with support to assist it in
resolving customer difficulties with the Products that are beyond First Level Support. Comarco will acknowledge Targus’ request, in English not less than [...***...] after Targus requests assistance, through electronic communication or
other method selected by Targus. Comarco shall supply the same level of support for a period of [...***...] months after Targus’ receipt of the last Product shipped by Comarco to Targus hereunder.  
 6.3 Tip Compatibility. Comarco will use commercially reasonable efforts to monitor introduction of new notebooks and laptop
computers and upgrades to existing notebooks and laptop computers by a computer manufacturer, and to determine whether the Products currently subject to this Agreement are compatible with such new or upgraded computers and to notify Targus in
writing if any of such Products are not compatible within [...***...] days after the introduction of such new notebooks, laptop computers, and upgrades. Comarco will ensure that the Products are compatible with no less than [...***...]
percent ([...***...]%) of all notebooks and laptop computers in the marketplace. 
 6.4 Software Configurator.
Comarco shall, at Comarco’s sole cost, design and, during the term of this Agreement, host and maintain a configurator software database that is accessible on Targus’ branded-website which shall allow customers to determine the type of
Product needed for their laptop/notebook computers. Comarco shall reasonably consider, in good faith, Targus’ suggestions and input regarding improvements to such database and website. 
 6.5 Samples. Comarco shall supply reasonable amounts of samples of all Products including newly designed Products to all regions of
Targus at the request of Targus. 
 7. Quality Control. 
 7.1 Testing. The Products shall be tested by Comarco or its designee in accordance with and as required by Comarco’s standard
testing procedures, processes and policies. Upon Targus’ request, Comarco shall make available to Targus any test certifications obtained by Comarco. Targus may test Products at any time and shall be responsible for such testing charges. Targus
may request that Comarco perform a particular, additional test on a Product, and Comarco will discuss Targus’ request in good faith and determine, in Comarco’s sole discretion, whether to perform such additional test. 
 7.2 Epidemic Failures. As used in this Agreement, an “Epidemic Failure” shall mean the occurrence of a single
defect in a Product that results in a warranty breach discovered either in testing, through inspection or in the field at a failure rate over any rolling [...***...] day period exceeding [...***...] percent ([...***...]%) 

  

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of such Product delivered by Comarco to Targus during such period or if there is a Product recall. If an Epidemic Failure occurs, Comarco will propose an
action plan within [...***...] business days to fix the failure of any affected Products and to implement immediately such action plan upon Targus’ acceptance thereof. Any repair or replacement agreed upon by Targus to remedy the Epidemic
Failure shall be done at mutually agreed-upon locations; provided, however that costs of repair or replacement together with the shipping, transportation and other costs of gathering and redistributing the affected Products shall be borne solely by
Comarco. Additionally, Comarco shall reimburse Targus for any other direct costs incurred by Targus as a result of the Epidemic Failure. If Comarco is unable to remedy the Epidemic Failure to Targus’ satisfaction within [...***...] days
after Targus delivers notice of the same to Comarco, Targus shall have the right to terminate this Agreement in accordance with Section 12 below. 
 7.3 Acceptance. Final acceptance or rejection of the Products by Targus shall be made as promptly as practical after delivery, but in no event more than [...***...] calendar days after delivery to the
destinations specified in the purchase orders, provided that failure to inspect and accept or reject the Products or failure to detect defects by inspection, shall not relieve Comarco from responsibility for Products that are not in accordance with
the warranty herein or damaged during shipment to the location as described in Section 5.3 or waive any of Targus’ rights relating thereto (and which Products may be returned to Targus pursuant to Section 5.9). For purposes of this
Agreement, “final acceptance or rejection” shall be limited to confirmation whether the Products have been received by Targus and whether the quantity is the same as specified in the applicable order. Any Products that are rejected as not
conforming to the applicable warranties shall be handled in accordance with the warranty provisions in this Agreement. Comarco shall use commercially reasonable efforts to provide and maintain an inspection and process control system acceptable to
Targus covering the Products hereunder. 
 7.4 Site Inspections. Each party shall have the right at its expense to
inspect, at reasonable times and upon prior written notice, books, records and facilities of the other party that relate to the performance under this Agreement. Each party shall reasonably cooperate with the other party with respect to such
inspections. If an inspection or test is made on a party’s premises, such party shall provide the other party’s inspectors with reasonable facilities and assistance at no additional charge. 
 7.5 Financial Information and Accounting. Upon request of either party, the other party shall provide the requesting party with
financial information sufficient to demonstrate its ability on an ongoing basis to meet is obligations hereunder. All computations pursuant to this Agreement shall be made in accordance with recognized and generally accepted accounting principles as
reflected in the practice of certified independent public accountants of international reputation practicing in the United States. 
  

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 7.6 Business Review. Upon the request of either party, the parties hereto shall
meet to review the past performance hereunder and endeavor to adopt procedures to achieve higher performance standards hereunder. 
 8.
Intellectual Property. 
 8.1 Intellectual Property; Targus Marks. As used in this Agreement,
(a) “Intellectual Property” means all inventions, patents, patent applications, copyrights, trademarks, trade names, service marks, technical information, specifications, designs, drawings, data, processes, formulae, know how
and other intellectual properties owned or licensed by a party hereunder and necessary or useful for the manufacture and supply of the Products; (b) “Comarco Intellectual Property” means (i) all Intellectual Property owned
or licensed by Comarco independent of this Agreement and without any assistance from Targus, including, without limitation, any Intellectual Property embodied in any Product or New Product, and (ii) all Intellectual Property conceived, reduced
to practice or made by Comarco in the course of developing any tip as provided in Section 6.3 or developing the software configurator database and website as provided in Section 6.4; and (c) “Targus Intellectual
Property” means all Intellectual Property owned by Targus independent of this Agreement and without any assistance from Comarco, including, without limitation, the Targus Marks. The “Targus Marks” means the Targus word
trademark and any other mark, design or symbol designated by Targus to be used in conjunction with Targus products from time to time. 
 8.2 Ownership. The parties acknowledge and agree that (i) the Targus Intellectual Property is the property of Targus and the Comarco Intellectual Property is the property of Comarco, and that as between
Comarco and Targus, all right, title and interest in and to the Intellectual Property are owned by, belong to and remain with the party that provided the same; (ii) either party shall not and shall not permit any third party to register,
modify, translate or create derivative works based upon the other party’s Intellectual Property, (iii) each party shall execute and deliver such documents as the other party may reasonably request to enable the requesting party to register
and perfect any rights in the Intellectual Property it owns and any improvements thereto, and (iv) each party shall be responsible for and shall take appropriate steps to ensure compliance by its employees and agents with respect to such
party’s obligations under this Agreement. Comarco represents and warrants that it owns or otherwise has legal rights to all trademarks, patents and other proprietary rights in and to the Comarco Intellectual Property and has the right to allow
the branding of the Products with the Targus Marks as provided herein without the consent of any other party. Targus represents and warrants that it owns all trademarks, patents and other proprietary rights in and to the Targus Intellectual Property
and has the right to grant Comarco a license to use the Targus Marks as provided herein without the consent of any other party. 
 8.3 License to Use. Comarco hereby grants Targus, its Affiliates and their respective customers a nonexclusive, non-transferable (except as permitted under Section 14.5), non-royalty bearing license to the Comarco Intellectual
Property to the extent necessary to sell, distribute, operate and otherwise use the Products. Targus grants Comarco a nonexclusive, non-transferable (except as permitted under Section 14.5), non-royalty bearing license to the Targus
Intellectual Property to the extent necessary to manufacture the Products. 
  

 15. 

 9. Targus Marks. Targus hereby grants Comarco a nonexclusive, non-transferable (except as
permitted under Section 14.5), limited license to use the Targus Marks solely to brand the Products and in a manner pre-approved in writing by Targus’ General Counsel. Comarco shall not use any trade marks or other signs or symbols other
than the Targus Marks on or in relation to the Products. Comarco shall display Targus Marks on the Products in a format mutually acceptable to the parties. Targus represents and warrants that it owns all trademark and other proprietary rights in and
to the Targus Marks and has the right to license the same to Comarco without the consent of any other party. Targus shall defend, indemnify, and hold harmless Comarco from and against any claims, demands, liabilities, or expenses (including
attorneys’ fees and costs) arising out any claims of infringement or misappropriation by third parties with respect to the Targus Marks. Comarco shall not use any marks confusingly similar to the Targus Marks, nor shall Comarco use the Targus
Marks in conjunction with any other mark or products. Comarco must notify Targus immediately after it becomes aware of or suspects any actual or threatened infringement or misuse of, or any challenge or other action detrimental to, any of the
Targus Marks or other Targus Intellectual Property, and of any actual or threatened passing-off. Comarco must provide details of the alleged infringement, misuse, challenge or other action. Comarco may not use the Targus Marks except for the limited
purpose set forth in this Agreement and in accordance with Targus’ trademark guidelines from time to time in effect. Comarco shall not knowingly or intentionally do anything to harm the reputation or goodwill associated with the Targus Marks,
or take any action inconsistent with Targus’ ownership of the Targus Marks. Comarco agrees to assign, and does hereby assign to Targus any and all right, title and interest which it has obtained or may obtain in Targus’ Marks. Comarco
hereby irrevocably appoints Targus as its attorney-in-fact for the limited purpose of executing any and all documents and performing any and all acts necessary to give effect and legality to the provisions of this Section 9 If, in Targus’
sole determination, Comarco’s use of the Targus Marks infringes on the rights of any third party, or weakens or impairs Targus’ rights in the Targus Marks, then Comarco agrees to immediately terminate or modify such use in accordance with
Comarco’s instructions. 
 10. Confidentiality. Both during the term of this Agreement and at all times thereafter, subject to
the other terms and provisions of this Agreement, each party hereto shall (A) (i) hold all Confidential Information (as defined below) in confidence, (ii) not directly or indirectly disclose any Confidential Information without the
prior written consent of the other party, except for such employees, agents and representatives of such party that have a need to know; and (iii) not directly or indirectly use any Confidential Information for any purpose other than performance
under this Agreement, (B) take such reasonable precautions as shall be necessary to keep strictly secret and confidential all Confidential Information including, but not limited to, marking documents as Confidential Information with a legend
prohibiting reproduction, and (C) be responsible for compliance by each of its employees, representatives and agents with the terms of this Section. 
  

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 10.1 Confidential Information. As used in this Agreement “Confidential
Information” means all of the following: (i) all trade secrets of the parties hereto, each party’s confidential information and information proprietary to each party and its Affiliates, (ii) all third party trade secrets,
third party confidential information and information proprietary to a third party which each party obtains from such third party and which each such party treats or is obligated to treat as confidential, (iii) all of the terms of this Agreement
and (iv) any information constituting a trade secret within the meaning of California Civil Code Section 3426.1, all of which is identified as confidential at the time of disclosure or which should reasonably be considered, under the
circumstances of its disclosure, to be confidential to the disclosing party. Without limiting the generality of the foregoing, Confidential Information includes, economic and financial analyses and data, developments, improvements, concepts,
marketing techniques, marketing policies and materials, marketing and development plans, customer names and other information related to customers, price lists and pricing policies, suppliers, product designs and specifications, manufacturing
processes, manufacturing costs and all information derived from or using any of the foregoing. 
 10.2 Exceptions.
Confidential Information shall not include (i) information which is, or at any time becomes, available in the public domain through no wrongful act of the other party, (ii) information which the other party can document was lawfully in its
possession prior to the date of this Agreement, (iii) information which is documented by the other party as having been lawfully acquired from a third party who was not under a confidentiality obligation, and (iv) information which is
independently developed by the other party without reference to or use of the disclosing party’s information, as evidenced by written records. 
 10.3 Return. Upon expiration or termination of this Agreement, each party shall promptly return to the other party or, at the other party’s option, destroy, all physical, written or electronic records
(including any translations) containing any Confidential Information and all derivatives of any of the foregoing. Each party shall certify to the other in writing as to such return or destruction. 
 10.4 Disclosure Request. If either party receives a request, or is required by applicable law (other than as contemplated pursuant
to Section 10.5(i) below) or court or administrative order, to disclose any Confidential Information, such party shall promptly notify the other party and shall reasonably cooperate with the other party in seeking an appropriate protective
order. If such protective order is not obtained, the disclosing party shall disclose only that portion of the Confidential Information which is legally required to be disclosed and shall afford the other party the opportunity to review each item of
Confidential Information prior to disclosure. 
 10.5 Terms of the Agreement. Neither party will disclose any terms of
this Agreement to any third party without the prior written consent of the other party, except (i) as required by laws and regulations, including pursuant to the applicable requirements of the Securities and Exchange Commission or the listing
requirements of any stock exchange or The NASDAQ Stock Market (which disclosure may include a description of the material terms of this Agreement and the filing of a copy of this Agreement with the Securities and Exchange Commission; provided that
Comarco shall redact such financial or other sensitive information in any such disclosure or filing to the extent reasonably requested by Targus 

  

 17. 

 
provided the applicable Governmental Requirements and the governing agencies permit such redaction) or as may be required to be disclosed in the footnotes of
such party’s financial statements; (ii) to its attorneys, accountants, and other professional advisors under a duty of confidentiality; or (iii) to a third party under a duty of confidentiality in connection with any proposed or
actual financing or a proposed or actual merger or sale of all or part of such party’s business relating to this Agreement. Notwithstanding any other provision contained in this Agreement, without the consent of the other party, either party
may disclose, communicate or disseminate information with customers, vendors, suppliers, investors, and others with respect to this Agreement and the terms contained herein provided that such information has been previously disclosed in a press
release, public announcement or other document previously approved for external distribution by the other party or is information which has been previously disclosed by a party pursuant to sub-clause (i) of the previous sentence. 
 11. Term. The term of this Agreement shall commence and become effective on the Effective Date and continue for two (2) years thereafter and
shall automatically renew for additional terms of twelve (12) months each unless notice of non-renewal is given by either party in writing at least ninety (90) days prior to the end of the current term. Notwithstanding the fact that this
Agreement shall be effective as of the Effective Date, the parties agree that the following Sections of this Agreement shall be effective immediately to the extent necessary for the parties to prepare for the Effective Date: Section 1.9
(Development and Supply Milestones), Section 2 (Documentation and Packaging), Section 5.3 (Delivery Terms and Lead-times), Section 5.6 (Forecasts), Section 8 (Intellectual Property), Section 9 (Targus Marks), Section 10
(Confidentiality), Section 14 (Miscellaneous) and Section 15 (Resolution of Disputes). 
 12. Termination. 
 12.1 Breach. Either party may terminate this Agreement (i) at any time upon thirty (30) days prior written notice to the
breaching party of a material breach of its obligations under this Agreement unless the breaching party cures such breach within such thirty (30)-day period; (ii) upon fifteen (15) days prior written notice if the other party assigns or
transfers this Agreement or any of its rights, duties or obligations under this Agreement, without the prior written approval of the other party hereto in accordance with Section 14.5 (except that no prior written consent shall be required for
a Permitted Assignment) (as defined in Section 14.5 below); (iii) upon fifteen (15) days prior written notice upon the acquisition of substantially all of the assets or stock of Comarco by a Major Competitor of Targus (defined below)
or any of such competitor’s Affiliates, or the merger or consolidation of Comarco or an Affiliate of Comarco with or into such a Major Competitor of Targus or any of such competitor’s Affiliates; or (iii) immediately if the other
party makes a general assignment for the benefit of creditors, suffers or permits the appointment of a receiver for its business or assets, or there is filing by or against such party of a petition to have such party adjudged a bankrupt or a
petition for reorganization under any law relating to bankruptcy, which is not dismissed in sixty (60) days. As used herein, “Major Competitor of Targus” means a third party selling products similar to those offered for sale by
Targus through similar channels as determined by Targus. As used herein, a “material breach” by Comarco of its obligations hereunder shall include, without limitation, Comarco’s failure to supply the Products substantially as required
under this Agreement in terms of quantity, quality, and delivery dates. 
  

 18. 

 12.2 Targus Remedies. In addition to any other remedies set forth herein, Targus
at its sole option upon termination by Targus under Section 12.1 may (i) cancel all outstanding purchase orders; and (ii) sell any Products in its inventory. In the event Targus determines to sell any Products in inventory, all
licenses granted hereunder to Targus shall continue until the inventory is sold, unless a longer period is provided herein. 
 12.3 Effect of Termination. Except for licenses granted to Targus, its Affiliates and their respective customers as necessary to sell, distribute and operate the Products supplied by Comarco, upon any termination or expiration of
this Agreement, all licenses granted by either party under this Agreement shall terminate. Comarco shall destroy or otherwise modify in accordance with Targus’ instructions any inventory or work-in-process that contain any Targus Marks or other
Targus Intellectual Property. 
 13. Warranty and Indemnification. 
 13.1 Warranty. Comarco warrants that during the Warranty Period (as defined below) (a) all of the Products will
be of merchantable quality, free from all defects in workmanship and materials, will be fit and safe for the particular purposes for which they are purchased (including consumer use) and the Products will conform in all material respects with the
specifications agreed to by the parties and the samples delivered by Comarco, (b) the Products will not be adulterated, misbranded, falsely labeled or advertised, or falsely invoiced within the meaning of any local, state or federal laws of the
United States now in force, (c) the Products will be properly labeled as to content as required by applicable U.S. Federal Trade Commission Trade Practice Rules, the U.S. Fair Labor Standards Act, the U.S. Consumer Product Safety Commission and
similar laws, rules and regulations, (d) the Products ordered herein will be delivered in good and undamaged condition, (e) the Products do not infringe upon or violate any patent, copyright, trademark, trade name, trade dress or any other
intellectual or proprietary property right of any third party (and this warranty is not limited to the term of the Warranty Period, as defined below, but the remedy for any breach of this warranty is limited to the indemnity provided in
Section 13.4), (f) all of the Products will be delivered free of any claim of lien of any nature by any third person and Comarco will convey clear title thereto to Targus as provided hereunder, (g) all sales made hereunder will be
made at not less than fair value under the United States Antidumping Law (19 U.S.C. Sec. 167 et seq.); and (h) the Products comply with applicable state, national and international laws, ordnances, statutes, rules and regulations in the United
States and the place of manufacture (collectively, “Legal Requirements”) where Targus intends to sell the Products. The “Warranty Period” will be [...***...] months from the date of delivery as required under
Section 5.3 of the applicable Product for all other Products. Except as 

  

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provided in Section 13.3, any attempt by Comarco to limit, disclaim or restrict any such warranties provided above or remedies of Targus provided under
this Agreement by acknowledgment or otherwise in accepting or performing an order shall be void. All product warranty claims from customers relating to the manufacture or production of the Products shall be the sole responsibility of Targus, subject
to Targus’ right to return Products to Comarco that are in breach of any warranty as provided in Section 5.9 above. Comarco shall not be responsible for any representation, warranty, or guarantee made by Targus concerning the Products that
is inconsistent with the foregoing. 
 13.2 Remedy for Breach of Warranty. For any breach of the warranty provided in
Section 13.1(a), (b), (c) or (d), the parties will follow the return process described in Section 5.9 above. The warranties provided in Section 13.1 do not cover any damage, defect, inoperability, or incorrect performance of a
Product caused during shipment (subsequent to delivery by Comarco as provided in Section 5.3), exposure to adverse environment, misuse, abuse, accident, neglect, or unauthorized modification or repair. 
 13.3 Warranty Disclaimer. THE EXPRESS WARRANTIES PROVIDED IN
SECTION 13.1 ARE IN LIEU OF ALL OTHER WARRANTIES, WHETHER EXPRESS, IMPLIED,
OR STATUTORY, REGARDING THE PRODUCTS, INCLUDING ANY WARRANTIES OF MERCHANTABILITY,
FITNESS FOR PARTICULAR PURPOSE, AND NON-INFRINGEMENT OF THIRD PARTY INTELLECTUAL
PROPERTY RIGHTS. TARGUS ACKNOWLEDGES THAT IT HAS RELIED ON NO WARRANTIES
OTHER THAN THE EXPRESS WARRANTIES PROVIDED IN SECTION 13.1. 
 13.4 Comarco Indemnity. Comarco shall defend, indemnify, and hold harmless Targus and its respective directors, officers,
employees, parents, subsidiaries, Affiliates, agents, successors, and assigns, as well as their respective customers, resellers, distributors and licensees (collectively, the “Targus Indemnified Parties”), from and against all third
party suits and claims, and all injuries, liabilities, losses, damages, judgments, settlements, expenses, and costs (including, without limitation, reasonable attorneys’ fees) that result or are alleged to result from such suits and claims
(collectively, “Claims”) arising directly or indirectly out of (a) any actual or potential product recall(s) or investigations by any regulatory agency, (b) any conduct or actions by Comarco which are, or are alleged to
be, illegal, negligent or tortious or any breach of any representation or warranty of Comarco contained herein, (c) any claim that that this Agreement and/or sale of the Products to Targus violates any agreement, arrangement and/or
understanding between the claiming party, on the one hand, and Comarco or its Affiliates, on the other hand; (d) any claims for damage to property, injury to person(s) or death related to the Products, whether based on negligence, defect in
design or manufacture or any other theory or cause, or (e) any other claim or allegation by a third party for infringement or violation of any patent, copyright, trademark, trade name, trade dress, or any other intellectual or proprietary
property right of any third party, which damage, injury, infringement, or violation is alleged to be caused by, relate to, or result from the Products (other than Custom Products to the extent infringement is based solely on compliance with any
specifications provided by Targus) supplied by Comarco to Targus and/or the Targus Indemnified Parties (except to the extent such claim is based solely on the Targus Intellectual Property). 
  

 20. 

 If a Product becomes, or in Comarco’s opinion is likely to become, the subject of an infringement
claim, Comarco shall, at its option and expense, either (i) procure for Targus the right to continue distributing such Product; or (ii) replace or modify such Product so that it becomes non-infringing without materially affecting
functionality. Notwithstanding the foregoing, Comarco will have no obligation under this Section with respect to any infringement claim based upon (x) unauthorized use or distribution of the Product by Targus or its customers, (y) any use
of the Product by Targus or its customers in combination with other products, equipment, component, or software not supplied by Comarco if such combination is the basis of the infringement claim and the combination was not reasonably anticipated or
foreseeable by Comarco; or (z) any modification of the Product by any other person without Comarco’s prior written consent. 
 13.5 Targus Indemnity. Targus shall defend, indemnify, and hold harmless Comarco and its respective directors, officers, employees, parents, subsidiaries, Affiliates, agents, successors, and assigns, as well as
their respective customers, resellers, distributors and licensees (collectively, the “Comarco Indemnified Parties”), from and against all Claims arising, directly or indirectly out of (a) any claims for damage to property,
injury to person(s), or death based on defect in design of any Custom Product, but only to the extent the defect is based solely on compliance with any specifications provided by Targus, (b) any conduct or actions by Targus which are, or
alleged to be, illegal, negligent or tortious or any breach of any representation or warranty of Tagus contained herein, (c) any actions or omissions of Targus or its employees in connection with marketing, promoting, advertising, or selling
the Products, or (d) any other claim or allegation by a third party for infringement or violation of any patent, copyright, trademark, trade name, trade dress, or any other intellectual or proprietary property right of any third party, which
damage, injury, infringement, or violation is alleged to be caused by, relate to, or result from the Custom Products supplied by Comarco to Targus and/or the Targus Indemnified Parties, but only to the extent the infringement is based solely on
compliance with any specifications provided by Targus. 
 13.6 Terms Relating to Defense and Indemnification. For
purposes of this Section 13.6, (i) the party entitled to indemnification pursuant to Sections 13.4 or 13.5 above (e.g., either the Targus Indemnified Parties and the Comarco Indemnified Parties) is referred to as the “Indemnified
Party;” and (ii) the party obligated to indemnify is referred to as the “Indemnifying Party.” In the event of a Claim, but without affecting the generality of Section 13.4 and 13.5 above: 
 (a) the Indemnified Party shall give the Indemnifying Party prompt written notice of any Claim for which they, or any of them, seek to be
indemnified under the terms hereof; 
 (b) the rights of the Indemnified Party to be indemnified hereunder shall not be deemed
forfeited by their failure to give prompt notice unless the Indemnifying Party is substantially prejudiced by such failure; 
  

 21. 

 (c) The Indemnifying Party shall, within [...***...] calendar days after receiving
notice of any Claim, assume the defense of such Claim and retain legal counsel reasonably acceptable to the Indemnified Party for the defense of the Indemnified Party, with the Indemnifying Party to bear all fees and costs of such defense;

 (d) in the event the Indemnifying Party fails to assume the defense of the Indemnified Party against any Claim, the
Indemnified Party shall have the right to undertake the defense of the Claim on behalf of and at the expense and risk of the Indemnifying Party; 
 (e) the Indemnified Party shall cooperate with the Indemnifying Party and its legal counsel in the defense of any Claim in the event the Indemnifying Party assumes the defense of and retains legal counsel for the
Indemnified Party; 
 (f) if the Indemnified Party’s and the Indemnifying Party’s interests can be fully, ethically,
and adequately represented by common counsel retained to defend jointly the Indemnifying Party and the Indemnified Party against any Claim, the Indemnified Party shall be represented by such joint counsel and shall enter into a joint defense
agreement reasonably acceptable to them to ensure the applicability of a joint defense privilege and confidentiality in all communication among the Indemnified Party, the Indemnifying Party, and their common legal counsel; 
 (g) if the Indemnified Party’s and the Indemnifying Party’s interests cannot be fully, ethically, and adequately represented by
common counsel retained by the Indemnifying Party and the Indemnified Party, the Indemnified Party shall be represented by separate counsel reasonably acceptable to them, and the Indemnifying Party shall bear all fees and costs of such separate
counsel; 
 (h) notwithstanding the foregoing, and independent of counsel chosen and paid for by the Indemnifying Party, the
Indemnified Party shall also have the right to employ separate and additional counsel of their sole choosing to defend against any Claim, but the fees, costs, and expenses of such counsel shall be at the expense of the Indemnified Party as long as
the Indemnifying Party continues to bear the expense of counsel it has selected to defend the Indemnified Party; and, 
 (i)
the Indemnifying Party shall not, without the Indemnified Party’s written consent (which consent shall not be unreasonably withheld), settle or compromise any Claim or consent to entry of any judgment related thereto, unless such settlement,
compromise, or consent includes as an unconditional term thereof the giving by the claimant or plaintiff to the Indemnified Party a release from all liability arising from such Claim. 
  

 *** Confidential Treatment Requested 
 Text Omitted and Filed Separately 
 22. 

 13.7 Insurance. Each party, at its sole cost and expense, shall obtain and
maintain in full force and effect, during the term of this Agreement, a policy of insurance insuring against those risks customarily insured under comprehensive general liability policies, including without limitation, product liability, and
completed operations. Such policies of insurance shall have endorsements or coverage with combined single limits of not less than [...***...] and shall name the other party as an additional insured thereunder. On or prior to the termination or
expiration of this Agreement, each party shall obtain and keep in force a rider, endorsement or other appropriate policy that cannot be cancelled and that extends the cover of the comprehensive general liability policies referred to in the
immediately preceding sentence for the benefit of the other party to all claims made within [...***...] months after its termination or expiration in relation to any act or omission of the insured party under this Agreement before its
termination or expiration. At the request of the other party, each party shall provide the other party with a certificate of insurance or other evidence that the appropriate insurance set forth herein is in effect. 
 13.8 Limitation on Liability. EXCEPT FOR ANY INDEMNIFICATION
OBLIGATION PROVIDED IN THIS AGREEMENT, OR BREACH OF THE EXCLUSIVE DISTRIBUTION
OR SUPPLY OBLIGATION PROVIDED IN SECTION 1, BREACH OF SECTION 8, 9 OR 10:
(I) IN NO EVENT WILL EITHER PARTY BE LIABLE TO THE OTHER
PARTY OR ANY THIRD PARTY FOR ANY CONSEQUENTIAL, INDIRECT, PUNITIVE, EXEMPLARY,
SPECIAL OR INCIDENTAL DAMAGES, INCLUDING ANY LOST PROFITS, ARISING FROM OR
RELATING TO THIS AGREEMENT, AND (II) EACH PARTY’S TOTAL CUMULATIVE
LIABILITY IN CONNECTION WITH THIS AGREEMENT (OTHER THAN FOR ANY PAYMENT
OWED UNDER THIS AGREEMENT), WHETHER IN CONTRACT OR TORT OR OTHERWISE,
WILL NOT EXCEED[...***...]. 
 14. Miscellaneous. 
 14.1 Choice of Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of California Any
judicial action with respect to this Agreement shall be filed exclusively in the federal or state courts located in Orange County, California, and each of the parties irrevocably consents and submits to the personal jurisdiction and venue of the
federal and state courts located in Orange County, California. 
 14.2 Force Majeure. No party to this Agreement shall
be liable for failure or delay in the fulfillment of all or part of this Agreement (other than payment obligations) because of acts of God, governmental orders or restrictions, war, threat of war, warlike conditions, terrorism, hostilities,
sanctions, mobilization, blockade, embargo, revolution, riot, strike, walk-out, plague or other epidemics, fire, flood, earthquake or any other similar causes or circumstances beyond the reasonable control of the parties. Any such failure or delay
shall not be deemed a breach of this Agreement provided, however, that (i) the party so prevented from complying with this Agreement gives written notice to 

  

 *** Confidential Treatment Requested 
 Text Omitted and Filed Separately 
 23. 

 
the other party within 7 days after the force majeure event begins or occurs of the nature of the Force Majeure Event and the way in which, and the extent to
which, its obligations are prevented or delayed; (ii) the party so prevented from complying with this Agreement shall continue to take all actions within its power to comply as fully as possible and shall in every instance, to the extent it is
capable of doing so, use its diligent efforts to remove or remedy such cause with all reasonable dispatch, and (iii) if any such event or delay shall prevent the performance by Comarco of its obligations under this Agreement for a period of
90 days or more, then Targus shall be entitled to terminate this Agreement effective upon delivery of written notice to. 
 14.3 Equitable Relief. Each party acknowledges that the violation of any provision of Sections 1, 8, 9 or 10 of this Agreement by the other party would cause substantial injury to non-breaching party and that the non-breaching
party would not have entered into this Agreement without such restrictions. In the event of violation of any such provision, the non-breaching party shall be entitled to seek, without posting bond of any kind, injunctive relief and an accounting of
profits, compensation, remuneration and other benefits received by the breaching party in addition to any other contractual, legal or equitable right, damage or remedy available, subject to Section 13.8. 
 14.4 Assignment. Neither party may sell, assign or transfer any of its rights, duties or obligations under this Agreement without
the prior written consent of the other party, which consent will not be unreasonably withheld or delayed; provided however, that (a) either party may assign or transfer this Agreement or any of its rights, duties and obligations to any of its
direct or indirect subsidiaries or Affiliates; or (b) Targus may assign or transfer this Agreement or any of its rights, duties and obligations to the acquiring or surviving entity in any sale of substantially all of the assets or equity by
Targus, or the merger or consolidation of Targus into or with such other entity; (c) Comarco may assign or transfer this Agreement or any of its rights, duties and obligations to the acquiring or surviving entity in any sale of substantially
all of the assets or equity by Comarco, or the merger or consolidation of Comarco into or with such other entity provided that in the event such other entity is a Major Competitor of Targus the provisions of Section 12.1 shall apply
(collectively, “Permitted Assignment”), and provided that in all such cases such assignee agrees to be bound by the terms and conditions of this Agreement in writing. Subject to the foregoing, this Agreement shall be binding upon and inure
to the benefit of the parties hereto and their respective successors and assigns. Any attempted assignment in violation of the foregoing will be null and void. 
  

 24. 

 14.5 Notice. Any notice permitted or required under this Agreement shall be sent
by reputable national or international courier service (such as Federal Express or DHL or Airborne), or by confirmed fax, to the address or fax number for such party designated below: 
  

			
	 If to Targus:
	  	Targus Group International, Inc.
		  	1211 North Miller Street
		  	Anaheim, CA 92806 U.S.A.
		  	Attn: General Counsel
		  	Phone No. (714) 765-5555
		  	Fax: (714) 765-5579
		
	 If to Comarco:
	  	Comarco Inc.
		  	25541 Commercentre Drive
		  	Lake Forest, CA 92630-8870
		  	Attn: Chief Executive Officer
		  	Phone No. (949) 599-7444
		  	Fax No. (848) 599-1410

 or to such other address or fax number as such party may designate by notice in accordance with this Section. Any
notice shall be deemed to have been given and received on the day it is so delivered at such address, provided that if such day is not a business day such notice or other communication shall be deemed to have been given and received on the next
following business day. 
 14.7 Severability. Whenever possible, each provision of this Agreement shall be interpreted
in such a manner as to be effective and valid under applicable law. However, if any provision shall be unenforceable or invalid under such law, such provision shall be ineffective only to the extent and duration of such unenforceability or
invalidity. The remaining substance of such provision and the remaining provisions of this Agreement shall in such event continue to be binding and in full force and effect provided the essential economic benefits of this Agreement are retained.

 14.8 Counterparts. This Agreement may be executed in any number of identical counterparts, any or all of which may
contain signatures of less than all of the parties and all of which shall be construed together as a single binding instrument. 
 14.9 Surviving Covenants. Sections 5.9, 6.2, 8, 9, 10, 12.2, 12.3, 13, 14 and 15 of this Agreement and any outstanding payment obligation under this Agreement shall survive any termination of this Agreement. 
 14.10 Attorneys’ Fees. In the event of any dispute arising out of the subject matter of this Agreement, the prevailing party
shall recover, in addition to any other damages assessed, its reasonable attorneys’ fees and costs incurred in litigating, arbitrating or otherwise settling or resolving such dispute. 
 14.11 Waiver. The waiver by any party of any right under this Agreement, or with respect to any failure to perform under or breach
of this Agreement by the other party, shall not constitute or be deemed a waiver of any other right under this Agreement or of any other failure to perform under or breach of this Agreement by the other party whether of a similar or dissimilar
nature. 
  

 25. 

 14.12 Compliance. Each party shall comply with all applicable laws, regulations
and court orders imposed by any jurisdiction in connection with entering into and performing its obligations under this Agreement. 
 14.13 Relationship of the Parties. Targus and Comarco shall at all times during the term of this Agreement act as, and shall represent itself to be, an independent contractor, and not an agent or employee of the other. This Agreement
does not create any relationship of association, partnership, joint venture or agency between the parties. Neither party will have any right or authority to assume, create or incur any liability or obligation of any kind against or in the name of
the other party. 
 14.14 Affiliate. Any Affiliate of Targus may purchase Products from Comarco under the terms and
conditions of this Agreement, provided that Targus is responsible for any failure to perform as required under this Agreement by such Affiliate. As used herein, an “Affiliate” of a party means any person or entity that directly or
indirectly controls, is controlled by, or is under common control with such party, where “control” means ownership of fifty percent (50%) or more of the outstanding voting securities (but only as long as such person or entity meets
these requirements). 
 14.15 Public Announcement. Subject to Section 10 and the exceptions provided for therein,
in no event shall either party issue a press release or make any other public announcement of the relations established under this Agreement prior to May 3, 2009. Any press release or other public announcement issued after such date will be
jointly issued by the parties in a form mutually agreed upon by the parties. 
 14.16 Entire Agreement. This Agreement
and Exhibits hereto are intended as the complete, final and exclusive statement of the terms of the agreement between the parties regarding the subject matter hereof and supersedes any and all other prior or contemporaneous agreements or
understandings, whether written or oral, between them relating to the subject matter hereof. This Agreement may not be modified except in writing executed by both parties. 
 15. Resolution of Disputes. 
 (a) Dispute Resolution. Unless otherwise agreed in writing, the exclusive procedure for handling disputes shall be as set forth herein. Notwithstanding such procedures, either party may, at any time, seek injunctive relief in
addition to the process described below. Performance under the Agreement shall continue during the dispute resolution process except in such instance where continuation would cause the Agreement to fail its essential purpose. The parties agree that
payment disputes shall not, in association with such dispute resolution procedures, be considered as a condition giving rise to failure of essential purpose. 
 (b) Informal Dispute Resolution. Prior to mediation or arbitration the parties shall seek informal resolution of disputes. The
process shall be initiated with written notice of one party to the other describing the dispute with reasonable particularity followed with a written response within ten (10) days of receipt of notice. 

  

 26. 

 
Each party shall promptly designate an executive with requisite authority to resolve the dispute and who is at a higher level of management than the person
with administrative responsibility over the Agreement. The informal procedure shall commence within ten (10) days of the date of response. All reasonable requests for non-privileged information reasonably related to the dispute shall be
honored. If the dispute is not resolved within thirty (30) days of commencement of the procedure either party may proceed to mediation or arbitration pursuant to the rules set forth in (c) or (d) below. 
 (c) Mediation. If the dispute has not been resolved pursuant to (b) above or, if the parties fail to commence informal dispute
resolution pursuant to (b) above, either party may, in writing and within twenty (20) days of the response date noted in (b) above, ask the other party to participate in a one (1) day mediation with an impartial mediator, and the
other party shall do so. Each party will bear its own expenses and an equal share of the fees of the mediator. If the mediation is not successful the parties may proceed with arbitration pursuant to (d) below. 
 (d) Arbitration. If the dispute has not been resolved pursuant to (b) or (c) above, the dispute shall be promptly
referred, no later than one (1) year from the date of original notice and subject to applicable statute of limitations, to binding arbitration in accordance with the Commercial Arbitration Rules of the American Arbitration Association
(“AAA Rules”) and shall be conducted in Orange County, California. Each party shall bear its own expenses and shall share equally in fees of the arbitrator(s). All candidates shall have substantial experience in information
technology and/or in the technology supply chain business and shall be selected by the parties in accordance with AAA Rules. If the value of the dispute is under $1 million, a single arbitrator shall be mutually agreed upon from the candidate pool.
If the value of the dispute is over $1 million, a three (3) arbitrator panel shall be mutually agreed upon from the candidate pool. If additional candidates are needed from which to chose they shall be procured from the AAA. If any
arbitrator(s), once selected is unable or unwilling to continue for any reason, replacement(s) shall be filled via the process described above and a re-hearing shall be conducted. The parties will provide each other with all requested documents and
records reasonably related to the dispute in a manner that will minimize the expense and inconvenience of both parties. Discovery will not include depositions or interrogatories except as the arbitrators expressly allow upon a showing of need. If
disputes arise concerning discovery requests, the arbitrators shall have sole and complete discretion to resolve the disputes. The parties and arbitrator(s) shall be guided in resolving discovery disputes by the Federal Rules of Civil Procedure. The
parties agree that time of the essence principles shall guide the hearing and that the arbitrator(s) shall have the right and authority to issue monetary sanctions in the event of unreasonable delay. The arbitrator(s) shall deliver a written opinion
setting forth findings of fact and the rationale for the award within thirty (30) days following conclusion of the hearing. The award of the arbitrator(s), which may include legal and equitable relief, but which may not include punitive
damages, will be final and binding upon the parties, and judgment may be entered upon it in accordance with applicable law in any court having jurisdiction thereof. In addition to award the arbitrator(s) shall have the discretion to award the
prevailing party all or part of its attorneys’ fees and costs, including fees associated with arbitrator(s), if the arbitrator(s) determines that the positions taken by the other party on material issues of the dispute were without substantial
foundation. Any conflict between the AAA Rules and the provisions of this Agreement shall be controlled by this Agreement. Notwithstanding the foregoing, neither party will be required to arbitrate any claim based on infringement of its intellectual
property right or breach of any confidentiality obligation under this Agreement. 
  

 27. 

 IN WITNESS WHEREOF, the undersigned have executed this Strategic Product Development and Supply Agreement
effective as of the date first set forth above. 
  

			
	“TARGUS”
	
	TARGUS GROUP INTERNATIONAL, INC.
		
	Signature:	 	/s/ Victor C. Streufert
	Name:	 	Victor C. Streufert
	Title:	 	Executive Vice President and Chief Financial Officer
	Date:	 	March 16, 2009
	
	“COMARCO”
	
	COMARCO, INC.
		
	Signature:	 	/s/ Fredrik Tortensson
	Name:	 	Fredrik Torstensson
	Title:	 	Vice President of Sales and Marketing
	Date:	 	March 16, 2009

  

 28. 

 EXHIBIT A 
 PRODUCT DESCRIPTION, SPECIFICATION AND PRICING 
 [...***...] LINE OF PRODUCTS 
  

							
	 PRODUCT
	  	 SPECIFICATIONS
	  	 TIPS*
	  	 PRICING

	[...***...]	  	[...***...]	  	[...***...]	  	[...***...]
	[...***...]	  	[...***...]	  	[...***...]	  	[...***...]
	[...***...]	  	[...***...]	  	[...***...]	  	[...***...]
	[...***...]	  	[...***...]	  	[...***...]	  	[...***...]
	[...***...]	  	[...***...]	  	[...***...]	  	[...***...]

  

	*	[...***...] 

 Delivery: F.O.B. [...***...] 
  

 *** Confidential Treatment Requested 
 Text Omitted and Filed Separately 
 A-1 

 DEVELOPMENT AND SUPPLY MILESTONES 
 Comarco agrees to deliver and launch the [...***...] line products in accordance with the following schedule: 
  

			
	 Milestone
	  	 Deadline

	 [...***...]
	  	

  

 *** Confidential Treatment Requested 
 Text Omitted and Filed Separately 
 A-2 

 EXHIBIT B 
 SAMPLE MANUFACTURER’S AGREEMENT 
 THIS MANUFACTURER’S AGREEMENT (the
“Agreement”) dated this      of                     ,
200    , by and between
            (Name)                    ,
            (Address)            (“Manufacturer”) and COMARCO, INC.
(“Comarco”) 
 WHEREAS, Comarco and Targus Group International, Inc. (“Targus”) have entered into
that certain Strategic Product Development and Supply Agreement dated                     , 2009 (the “Supply Agreement”)
pursuant to which Comarco agrees to supply to Targus certain power supply products (the “Products”). The Supply Agreement includes a license from Targus to Comarco to use certain Targus trademarks and logos (the “Targus
Trademarks”) on or in conjunction with the Products that Comarco will supply to Targus; and 
 WHEREAS, Manufacturer wishes to
manufacture for Comarco certain of the Products as set forth on Exhibit “A” attached hereto which will include the Targus Trademarks pursuant to Manufacturer’s separate agreement with Comarco. 
 NOW, in consideration of the foregoing, the covenants hereinafter set forth, and other good and valuable consideration, the receipt and adequacy of which
are hereby acknowledged, the parties agree as follows: 
 1. Manufacturer agrees that any and all rights that may be acquired by the use of
the Targus Trademarks shall inure to the sole benefit of Targus. Manufacturer agrees to execute all documents and to make such filings, at no material cost or expense to Manufacturer, as are reasonably required to assign to Targus any rights
Manufacturer may have in the Targus Trademarks. 
 2. Manufacturer agrees not to use the Targus Trademarks or any part thereof as part of its
corporate or trade name nor use or register any name or mark confusingly similar to the Targus Trademarks. 
 3. Manufacturer agrees that if
it is notified by Comarco or Targus of any change in any of the Targus Trademarks, Manufacturer shall immediately change the Targus Trademarks to conform to such change. 
 4. Manufacturer agrees that it will not manufacture any goods using the Targus Trademarks other than the Product(s) specified on Exhibit “A” attached hereto by this Agreement and shall exclusively
manufacture for and sell to Comarco any such Product(s) containing Targus’ Trademarks. Additionally, Manufacturer acknowledges that the Supply Agreement requires Comarco to sell the Products exclusively to Targus, subject to certain exceptions
and limitations as set forth in the Supply Agreement. 
 5. Manufacturer agrees that upon notice to Comarco, who shall in turn notify
Manufacturer, Targus shall have the right to inspect, at Targus’ expense, the manufacturing facilities of Manufacturer. 
 6. The
parties to this Agreement expressly agree that Targus and its affiliates are third party intended beneficiaries of this Agreement with rights to enforce such agreement. 
  

 B-1 

 7. The construction and performance of this Agreement will be governed by the laws of the State of
California without regard to its choice of law rules. Any judicial action with respect to this Agreement shall be filed exclusively in the federal or state courts located in Orange County, California, and each of the parties irrevocably consents and
submits to the personal jurisdiction and venue of the federal and state courts located in Orange County, California. 
 IN WITNESS
WHEREOF, each of the parties has caused this Agreement to be executed in duplicate originals by its duly authorized representative on the respective dates entered below. 
  

									
	(Manufacturer)	 		 	COMARCO, INC
					
	By:	 	 	 		 	By:	 	 
	Title:	 	 	 		 	Title:	 	 
	Date:	 	 	 		 	Date:	 	 

  

 B-2Employment Agreement

 Exhibit 10.11.1 
 EMPLOYMENT AGREEMENT 
 THIS AGREEMENT is entered into as of the 2nd day of January, 2008 (the “Effective Date”) between the FEDERAL HOME LOAN BANK OF CHICAGO (the “Bank”) and [NAME OF EMPLOYEE] (the “Employee”).

 RECITALS: 
  

	A.	The Bank and the Employee wish to confirm the employment of the Employee by the Bank on the terms and conditions hereinafter set forth; and 

  

	B.	The Bank recognizes the valuable services that the Employee has rendered and desires to be assured that the Employee will continue his active participation in the business of the
Bank, subject to the terms of this Agreement, and desires to assure Employee that his employment will continue subject to the terms of this Agreement. 

 NOW, THEREFORE, in consideration of the promises and the mutual agreements contained in this Agreement, it is agreed as follows: 
 1. DEFINITIONS. 
 As used in this Agreement, unless the context otherwise requires a different meaning, the following terms
shall have the following meanings (such meanings to be equally applicable to the singular and plural forms thereof and words in the masculine gender being deemed to be feminine as may be applicable): 
 Board shall mean the Board of Directors of the Bank. 
 Cause shall mean any of the following activities by the Employee: (i) the conviction of the Employee for a felony, or a crime involving moral turpitude; (ii) the commission of any act involving
dishonesty, disloyalty or fraud with respect to the Bank or any of its members; (iii) willful and continued failure to perform material duties which are reasonably directed by the Board of Directors and/or the President which are consistent
with the terms of this Agreement and the position specified in Section 2; (iv) gross negligence or willful misconduct with respect to the Bank or any of its members; or (v) any violation of Bank policies regarding sexual harassment,
discrimination, substance abuse or the Bank’s Code of Ethics to the extent such acts would provide grounds for a termination for cause with respect to other employees; or (vi) a material breach by the Employee of a material provision of
this Agreement. 
 Change of Control of the Bank shall mean the occurrence at any time of any of the following events: 
 (a) any person, more than one person acting as a “group” (as defined in section 1.409A-3(i)(5) of the Treasury Regulations), acquires ownership
of equity securities of the Bank that, together with equity securities held by such person or group, constitutes more than 50% of the total voting power of the equity securities of the Bank; provided, however, that if any person or group, is
considered to own more than 50% of the total voting power 

  

					
	Form of Employment Agreement	  		  	

 
of the equity securities of the Bank, the acquisition of additional equity securities by the same person or group will not be considered a Change of Control
under this Agreement. An increase in the percentage of equity securities of the Bank owned by any person or group as a result of a transaction in which the Bank acquires its own equity securities in exchange for property will be treated as an
acquisition of equity securities of the Bank for purposes of this paragraph; or 
 (b) during any period of twelve (12) consecutive
months, individuals who at the beginning of such period constituted the Board (together with (a) any new or replacement directors whose election by the Board, or (b) whose nomination for election by the Bank’s shareholders, was
approved by a vote of at least a majority of the directors then still in office who were either directors at the beginning of such period or whose election or nomination for election was previously so approved) cease for any reason to constitute a
majority of the directors then in office; or 
 (c) The Bank sells or transfers 95% or more of its business and/or assets to another bank or
other entity. 
 Change in Control Bonus Payment has the meaning given to such term in Section 8(c). 
 Disability shall mean that the Employee (a) is unable to engage in any substantial gainful activity by reason of any medically determinable
physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months as determined under the Bank’s short- or long-term disability program; or
(b) is, by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months as determined under the
Bank’s short- or long-term disability program, receiving income replacement benefits for a period of not less than three (3) months under an accident and health plan covering the Bank’s employees. 
 Good Reason shall mean any of the following: 
 (a) FOR SANJAY K. BHASIN AND CHAD A. BRANDT: a reduction by the Bank in the Employee’s base salary other than under the conditions specified in Section 4; or 
 (a) FOR JOHN STOCCHETTI: a diminution in the Employee’s authority, duties, or responsibilities as a Employee of the Bank 
 (b) the relocation of the Employee’s principal office assignment to a location more than fifty (50) miles from its location on the date hereof;
or 
 (c) any material breach of this Agreement by the Bank. 
 For purposes of this Agreement, Good Reason shall not be deemed to exist unless the Employee’s termination of employment for Good Reason occurs within two (2) years following the initial existence of one of
the conditions specified in clauses (a) through (c) above, the 

  

					
	Form of Employment Agreement	  	2	  	

 
Employee provide the Bank with written notice of the existence of such condition within ninety (90) days after the initial existence of the condition,
and the Bank fails to remedy the condition within thirty (30) days after the receipt of such notice by the Bank. 
 Notwithstanding the foregoing, Good
Reason will not exist if the Employee voluntarily agrees in writing to any of the changes listed above giving rise to Good Reason 
 Retirement shall mean the planned and voluntary termination by the Employee of his employment on or after reaching the earliest retirement age permitted by the Financial Institutions Retirement Fund. 
 FOR SANJAY K. BHASIN AND CHAD A. BRANDT: Term of the Agreement means (2) two years. 
 FOR JOHN STOCCHETTI: Term of the Agreement means two (2) years; provided, however, that if at any time during the Term of the
Agreement any then-current member of the Bank’s Management Committee is offered an employment agreement having a three-year term, then the Bank agrees that it will enter into an amendment to this Agreement to amend the original Term of the
Agreement of this Agreement to be three (3) years. For purposes of clarity, in the event of such an amendment, the entire Term of the Agreement will not exceed three (3) years, regardless of when such amendment is entered into. 

2. DUTIES OF EMPLOYEE. 
 The Employee has been
retained by the Bank as a [EMPLOYEE JOB TITLE] or in such other or further capacities as may be assigned by the Bank. The Employee shall devote his best efforts to the performance of his duties of his position with the Bank and shall devote
substantially all of his business time and attention to the performance of his duties under this Agreement. 
 3. TERM OF EMPLOYMENT. 
 Unless terminated earlier as provided in Section 6, the Bank’s employment of Employee under this Agreement will continue from the Effective Date
for a period equal to the Term of the Agreement. 
 4. COMPENSATION. 
  

					
	Form of Employment Agreement	  	3	  	

 The Employee’s initial base salary for fiscal year [YEAR] is $[BASE SALARY], payable in accordance
with Bank’s payroll payment dates. The Bank will review the performance of the Employee and the compensation paid to the Employee according to its existing policies. If the Employee’s base salary is increased as a result of a merit
increase or promotion at any time during the term of this Agreement, then such increased amount shall thereafter constitute the Employee’s “base salary” for all purposes under this Agreement. The Bank reserves the right to reduce the
compensation of its Employees when such reduction is associated with a “General Reduction” in compensation among employees in the same job grade or employees who are similarly situated and such reduction is in response to adverse or
declining economic conditions. Any such reduction shall not exceed 5% of the Employee’s base salary amount in effect at the time of the reduction. The Employee will also be eligible for such incentive compensation plans as are adopted by the
Board of Directors. 
 5. EMPLOYEE BENEFITS. 
 The Employee shall be eligible to participate in or receive benefits that are provided to employees under the Bank’s various employee benefit plans, including applicable bonus plans, if any. The terms of those plans are set forth in
the respective plan documents, and are subject to change based on the terms set forth therein. 
 6. TERMINATION. 
 The Employee’s employment under this Agreement may be terminated under the following circumstances: 
  

	 	(a)	Death. Upon the Employee’s death, in which case Employee’s employment will terminate on the date of death; 

  

	 	(b)	Disability. Upon the Employee’s Disability, in which case the Employee may be eligible for leave under one or more of the Bank’s medical leave and/or
disability plans. If the Employee’s Disability results in the Employee’s inability to perform, with or without reasonable accommodation (as defined under the Americans with Disabilities Act), the Employee’s duties under this
Agreement, after the initial ninety- (90-) day period of Disability, the Bank may give the Employee thirty (30) days’ written notice of termination of this Agreement. If the Employee does not return to the performance of the
Employee’s duties hereunder on a full-time basis by the end of the thirty day notice period, then the Bank may terminate the Employee’s employment hereunder effective on the thirty-first (31st) day following the giving by the Bank of such written notice of termination. Although employment under the terms of this Agreement will end, the termination of this Agreement
will not affect the Employee’s employment and benefits under the Bank’s medical leave and/or disability plans, if applicable; 

  

	 	(c)	 Termination by the Bank for Cause. The Bank may terminate the Employee’s employment at any time for Cause, such termination to be effective as of
the date stated in a written notice of termination delivered to the Employee. Before 

  

					
	Form of Employment Agreement	  	4	  	

	 	 
proceeding with termination under subparts (iii) through (vi) of the definition of “Cause”, the Bank will give the Employee written
notice of the grounds for termination and thirty (30) days to cure. If the Employee fails or is unable to cure, the Employee’s employment will terminate immediately; 

  

	 	(d)	Resignation by the Employee Other Than for Good Reason. The Employee may voluntarily resign his position with the Bank at any time for any reason or for no reason,
other than under circumstances constituting Good Reason, upon thirty (30) days’ prior written notice to the Bank. Such resignation will be effective as of the date stated in such written notice, unless otherwise mutually agreed by the
parties. 

  

	 	(e)	Termination by the Bank Other Than for Cause. The Bank may terminate Employee’s employment for any reason or for no reason upon sixty (60) days’ prior
written notice to Employee. Such termination will be effective as of the date stated in a written notice of termination; or 

  

	 	(f)	Termination by Employee With Good Reason. The Employee may terminate the Employee’s employment hereunder at any time for Good Reason. The Employee must give the
Bank written notice explaining the reasoning for the Employee’s determination that an event giving rise to Good Reason for termination has occurred and allow the Bank thirty (30) days to cure. If the Bank fails to cure, the Employee’s
employment under this Agreement will end on the date stated in the notice by the Employee (or such earlier date after the delivery of such notice as the Bank may elect). 

 In no event will the termination of the Employee’s employment affect the rights and obligations of the parties set forth in this Agreement, except as expressly set forth herein. Any termination of the
Employee’s employment pursuant to this Section 6 will be deemed to be a termination of all of the Employee’s positions with the Bank. 
 7.
TERMINATION PAYMENTS. 
 The Employee will be entitled to receive the following payments upon termination of the Employee’s
employment hereunder: 
  

	 	(a)	In the event of the termination of the Employee’s employment pursuant to any of the following provisions: 

  

			
	 •        Section 6(a)
	  	 [Death]

		
	 •        Section 6(b)
	  	 [Disability]

		
	 •        Section 6(c)
	  	 [By the Bank for Cause]

		
	 •        Section 6(d)
	  	 [By the Employee Other Than for Good Reason]

  

					
	Form of Employment Agreement	  	5	  	

 the Bank will pay to the Employee (or the Employee’s estate, as the case may be) immediately
following such termination all accrued unutilized vacation time as of such date, and as soon as practicable, but in any event within 90 days, all accrued and unpaid salary for time worked as of the date of termination. The Employee will not be
entitled to any other compensation, bonus or severance pay from the Bank; provided, however, that nothing in this Section 7(a) shall affect any vested rights which the Employee has under any pension, thrift, or other benefit plan, excluding
severance. 
  

	 	(b)	In the event of termination of the Employee’s employment pursuant to any of the following provisions: 

  

			
	 •        Section 6(e)
	  	 [By the Bank Other Than for Cause]

		
	 •        Section 6(f)
	  	 [By the Employee for Good Reason]

 the Employee will be entitled to receive the following payments and benefits: 
  

	 	(i)	pursuant to the Bank’s normal payroll schedule, all accrued and unpaid salary for time worked as of the date of termination; 

  

	 	(ii)	pursuant to the Bank’s normal payroll schedule and procedures, all accrued but unutilized vacation time as of the date of termination; 

  

	 	(iii)	salary continuation (at the base salary level in effect at the time of termination) pursuant to the Bank’s normal payroll schedule for a period of time beginning on the
date of termination and continuing for a period equal to the Term of the Agreement; 

  

	 	(iv)	continued participation in any bonus plan in existence as of the date of termination, provided that all other eligibility and performance objectives are met, as if the
Employee had continued employment through December 31 of the year of termination. The bonus will be paid according to the normal payment schedule according to the plan then in effect, but not later than March 15th of the year following the year of termination. (The Employee will not be eligible for bonuses paid with respect to any year following the year of
termination); and 

  

	 	(v)	continued participation in the Bank’s employee health care benefits plans in accordance with the terms of the Bank’s then-current Severance Plan that would be
applicable to the Employee if his employment had been terminated pursuant to such Policy. 

 These payments are contingent upon the Employee
complying with Sections 11, 12, and 13 of this Agreement and signing a general release of all claims against the Bank in such form as the Bank shall require. The Employee will not be entitled to any other compensation, bonus, or 

  

					
	Form of Employment Agreement	  	6	  	

 
severance pay from the Bank; provided, however, that nothing in this Section 7(b) shall affect any vested rights which the Employee has under any
pension, thrift, or other benefit plan, excluding severance. 
 8. CHANGE IN CONTROL PAYMENTS. 
  

	 	(a)	Change in Control. If a Change in Control occurs while the Employee is employed by the Bank during the term of this Agreement (whether the Employee is then employed by
the Bank or a successor to the Bank as a result of a Change in Control), the Employee shall be entitled to the payments provided in this Section 8. 

  

	 	(b)	Minimum Bonus – Employment Continues. In the event of the occurrence of (i) a Change in Control under Section 8(a) and (ii) the continued
employment of the Employee with the Bank, the Employee may be entitled to receive the minimum incentive compensation pursuant to this Section 8(b). During the term of this Agreement, if the Employee is otherwise eligible to receive an annual
incentive award pursuant to the Bank’s Incentive Compensation Plan or Management Incentive Compensation Plan, as applicable, or a similar or successor plan following a Change in Control, then as an incentive to remain in the employ of the Bank
the Employee shall be entitled to receive an incentive award that is at least equal to the amount calculated by multiplying 0.50 times the single highest incentive bonus payment paid to the Employee during the three-year period immediately preceding
the year in which the Change in Control occurred. The benefits under this Section 8(b) shall apply to each annual incentive period that occurs during the Term of the Agreement. 

 Any conditions that are otherwise applicable to the Employee’s eligibility for an annual incentive award under the then-current incentive bonus plan,
such as receiving a performance rating of “Meets Expectations” or higher and/or employment on the date of payment or similar conditions, shall be applicable to the Employee’s receipt of the minimum guaranteed amount hereunder.

  

	 	(c)	Change in Control – Employment Terminates. In the event of the occurrence of (i) a Change in Control under Section 8(a) and (ii) the subsequent
termination of the Employee’s employment with the Bank pursuant to Section 6(e) or 6(f), the Employee shall be entitled to receive a Change in Control Bonus Payment in an amount equal to (i) 0.50 times (ii) the amount of the
single highest incentive bonus payment paid to the Employee during the three years immediately preceding the year in which the Change in Control occurred times (iii) the number of years in the Term of the Agreement. 

 Any Change in Control Bonus payable hereunder shall be payable by the Bank on the same day that the
annual incentive award is payable to the Employee, but no later than March 15th of the year following the year of termination. Any conditions
that are otherwise applicable to the Employee’s eligibility for the 

  

					
	Form of Employment Agreement	  	7	  	

 
annual incentive award, such as receiving a performance rating of “Meets Expectations” or higher or similar conditions (other than employment on
the date of payment), shall be deemed to have been fulfilled by the Employee. 
  

	 	(d)	Applicability of Both Sections 8(b) and 8(c) to the Employee. If Section 8(b) is applicable to the Employee in one year and then Section 8(c) becomes
applicable, then the Change in Control Bonus Payment that the Employee would be entitled to receive shall be calculated by substituting the number of years remaining under the Agreement for the number in clause (iii) of the formula set forth in
the preceding paragraph. 

  

	 	(e)	FOR JOHN STOCCHETTI ONLY: Taxes. The Employee shall be responsible for the payment of all federal, state, and local income and other taxes which may be due with
respect to any payments made to the Employee pursuant to this Agreement, other than any excise tax, tax penalties, or alternative federal tax assessed, which the Employee will receive from the Bank as an additional payment sufficient to provide him
with the same after-tax benefits as he would have received had such taxes not been imposed. 

  

	 	(e)	Taxes. The Employee shall be responsible for the payment of all federal, state, and local income and other taxes which may be due with respect to any payments made to
the Employee pursuant to this Agreement, including any excise tax, tax penalties, or alternative federal tax assessed. 

 9. CONFLICT OF
INTEREST. 
 The Employee may not use his position, influence, knowledge of confidential information, or the Bank’s assets for
personal gain. A direct or indirect financial interest, including joint ventures in or with a competitor, supplier, vendor, customer or prospective customer without disclosure and written approval from the Board of Directors is strictly prohibited
and could be grounds for dismissal for Cause. The Employee shall at all times comply with the Bank’s Code of Ethics. 
 10. CONFIDENTIAL INFORMATION.

 The term “Confidential Information” means: (a) financial information, including but not limited to earnings, assets,
debts, prices, fee structures, volumes of purchases or sales, or other financial data, whether relating to the Bank generally, or to particular products or services offered by the Bank; (b) customer or member information, including but not
limited to information concerning the products or services utilized or purchased by members, the names and addresses of members, terms of funding or loan agreements, or of particular transactions, or related information about potential members;
(c) marketing information, including but not limited to details about ongoing or proposed marketing programs or agreements by or on behalf of the Bank, marketing forecasts, results of marketing efforts or information about impending
transactions, and pricing strategies; (d) personnel information, including but not limited to employees’ personal or medical histories, employment agreements, commission and bonus plans, 

  

					
	Form of Employment Agreement	  	8	  	

 
compensation or other terms of employment, actual or proposed promotions, hiring, resignations, disciplinary actions, terminations, training methods,
performance or other employee information; (e) information contained in any computer files, including, but not limited to reports of examination issued by the Bank’s regulator, current and historical information regarding the Bank’s
borrowing and other relationships with its members and other borrowers, and to the results of the Bank’s internal ratings of its members and other borrowers, confidential information of third parties provided to the Bank under an agreement
requiring the Bank to maintain the confidentiality of such information except for specified permitted uses, or other proprietary operating software systems, and any associated passwords; (f) procedures manuals, policy manuals, sales training
materials, brochures, funding agreements, license agreements, minutes of board meetings, minutes of manager’s meetings, sales meetings; and (g) contacts, including but not limited to any compilations of past, existing or prospective
sources of business, proposals or agreements between members and the Bank, any sales or borrowing histories or other revenue information by member or customer, status of member or customer accounts or credit, or related information about actual or
prospective members or contacts. 
 11. NON-DISCLOSURE OF CONFIDENTIAL INFORMATION. 
 The Bank agrees to provide the Employee with access to Confidential Information necessary to perform the Employee’s job with the Bank. The Employee
agrees, except as specifically required in the performance of the Employee’s duties for the Bank, the Employee will not, during the course of Employee’s employment by Bank and after the Employee leaves the employment of the Bank, directly
or indirectly use, disclose or disseminate to any other person, organization or entity or otherwise employ any Confidential Information. 
 12. RETURN OF
PROPERTY. 
 The Employee agrees to deliver to the Bank upon the cessation of the Employee’s employment, and at any other time upon
the Bank’s request: (a) all documents and other materials, whether made or compiled by the Employee alone or with others or made available to the Employee while employed by the Bank, pertaining to Confidential Information or other
inventions and works of Bank; (b) all Confidential Information, other inventions or any other property of Bank in the Employee’s possession, custody or control, and (c) all cellular telephones, data storage devices, and personal
digital assistants paid for or issued by the Bank. This includes Confidential Information contained on Personal Digital Assistants, mobile phones, external hard drives, USB “flash” drives, other USB storage devices, FireWire storage
devices, digital music players, digital tapes, floppy disks, CD’s, DVD’s, personal e-mail accounts (including web-based e-mail accounts such as Hotmail, gmail, or Yahoo), memory cards, Zip disks or drives, and all other similar mediums
which can be used to store electronic data. 
 13. NON-SOLICITATION OF EMPLOYEES. 
 For a period of one year after the Employee’s employment with the Bank ends, the Employee will not recruit, hire or attempt to recruit or hire,
directly or by assisting others, any other employee of Bank during the Employee’s employment with Bank. 
 14. FEDERAL BENEFITS RULES.

  

					
	Form of Employment Agreement	  	9	  	

 If any provision of this Agreement (or any award of compensation) would cause the Employee to incur any
additional tax or interest under Section 409A of the Internal Revenue Code (the “Code”) or any regulations or Treasury guidance promulgated there under, the Bank may reform such provision provided that it will (i) maintain, to
the maximum extent practical, the original intent of the applicable provision without violating the provisions of Section 409A or the Code and (ii) notify and consult with the Employee regarding such amendments or modifications prior to
the effective date of any change 
 15. SEVERABILITY. 
 If any provision, restriction or section in this Agreement is determined to be in violation of any law, rule or regulation or otherwise unenforceable, such determination shall not affect the validity of any other
provision, restriction or section of this Agreement, but such other provisions, restrictions or sections shall remain in full force and effect. Each provision, restriction or section of this Agreement is severable from every other provision,
restriction or section and constitutes a separate and distinct covenant. In the event that a court of competent jurisdiction determines that any provision of this Agreement is overly broad or unenforceable, the Bank and the Employee specifically
request that such court sever it or reform such provision so that it is enforceable to the maximum extent permitted by law; provided that the Bank’s obligation to pay the Termination Payments set forth in Section 7(b) are contingent upon
the Employee complying with Sections 11, 12, and 13, as written. If the Employee challenges the enforceability of Sections 11, 12, or 13, or if a court finds any of these sections to be unenforceable, the Employee will not be entitled to the
separation payments set forth in Section 7(b). 
 16. SUCCESSORS. 
 This Agreement shall be binding upon and inure to the benefit of the Bank and its successors and assigns, and the Employee, the Employee’s heirs, executors and administrators. The Bank may assign this Agreement
in any Change in Control, and the Employee hereby consents to the assignment. 
 17. ENTIRE AGREEMENT; MODIFICATION. 
 This Agreement constitutes the entire Agreement between the parties hereto, and fully supersedes any prior agreements or understandings between the
parties. The parties acknowledge that they have not relied on any representations, promises, or agreements of any kind made in connection with the decision to sign this Agreement, except for those set forth in this Agreement. This Agreement may not
be altered or amended except in writing, signed by the Employee and an authorized representative of the Bank. 
 18. CHOICE OF LAW AND VENUE.

 The parties agree that this Agreement is to be governed by and construed under the law of the State of Illinois without regard to its
conflicts of law provisions. The parties further agree that all disputes shall be resolved exclusively in state or federal court in Cook County, Illinois. 
  

					
	Form of Employment Agreement	  	10	  	

 19. NOTICES. 
 Any notice required or permitted hereunder shall be in writing, and shall be deemed duly given when hand delivered, or when mailed, first class mail, postage prepaid, registered or certified, return receipt requested, to the addresses set
forth below: 
 Bank 
 111 E. Wacker Dr., Suite 800 
 Chicago, IL 60601 
 Attention: Mary Jane Brown 
 Employee 
 Employee’s home address as shown in the Bank’s records 
 The foregoing addresses may be changed at any time, or from time to time, by written notice given in accordance with the provisions of this section. 
 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the Effective Date. 
  

							
	 FEDERAL HOME LOAN BANK OF
CHICAGO
	 	EMPLOYEE
				
	By:	 	  
	 	By:	 	  

	Name:	 	[PRESIDENT]	 	Name:	 	[NAME OF EMPLOYEE]
	Title:	 	President and CEO	 	Title:	 	[TITLE OF EMPLOYEE]

  

					
	Form of Employment Agreement	  	11

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