Document:

exv10w6

Exhibit 10.6

TECHNISCAN, INC.

Lock-Up Agreement

October 9, 2009

TechniScan, Inc.

3216 South Highland Drive

Suite 200

Salt Lake City, UT 84106

     Re: TechniScan, Inc. – Lock-Up Agreement

Ladies and Gentlemen:

     In connection with the undersigned’s ownership of the number of shares of common stock, par
value $0.001 of TechniScan, Inc. (the “Company”) set forth below (each a “Security”
and collectively, the “Securities”), the undersigned agrees that, commencing on the date
hereof and during the period specified below (the “Lock-Up
Period”), the undersigned will
not offer, sell, contract to sell, pledge, grant any option to purchase, make any short sale or
otherwise dispose of, directly or indirectly, any of the Securities owned directly by the
undersigned (including holding as a custodian) or with respect to which the undersigned has
beneficial ownership within the rules and regulations of the Securities and Exchange Commission
(collectively, the “Locked-Up Shares”). The Securities are not “restricted securities” as
defined in the Securities Act of 1933, as amended (the “Act”), and the rules promulgated
thereunder, and have been registered for resale in open market transactions in accordance with the
Act.

     The foregoing restriction is expressly agreed to preclude the undersigned or any affiliate of
the undersigned from engaging in any hedging or other transaction which is designed to or which
reasonably could be expected to lead to or result in a sale or disposition of the Locked-Up Shares
even if the Locked-Up Shares would be disposed of by someone other than the undersigned. Such
prohibited hedging or other transactions would include, without limitation, any short sale or any
purchase, sale or grant of any right (including, without limitation, any put or call option) with
respect to any of the Locked-Up Shares or with respect to any security that includes, relates to,
or derives any significant part of its value from the Locked-Up Shares.

     Notwithstanding the foregoing, during the Lock-Up Period, the undersigned may transfer all or
a portion of the Locked-Up Shares: (1) as a bona fide gift or gifts, provided that the donee or
donees thereof agree to be bound by the restrictions set forth herein; or (2) to any trust for the
direct or indirect benefit of the undersigned or the immediate family of the undersigned, provided
that the trustee of the trust agrees to be bound by the restrictions set forth herein, and provided
further that any such transfer shall not involve a disposition for value. For purposes hereof,
“immediate family” shall mean any relationship by blood, marriage or adoption, not more remote than
first cousin. In addition, notwithstanding the foregoing: (i) if the undersigned is a corporation,
partnership, limited liability company or other form of business entity, the undersigned may
transfer the capital stock of the Company to any wholly-owned subsidiary, partner or member of the
undersigned or to an affiliate of the undersigned; provided, however, that in any such case, it
shall be a condition to the transfer that the transferee execute an agreement stating that the
transferee is receiving and holding such capital stock subject to the provisions of this Agreement
and there shall be no further transfer of such capital stock except in accordance with this
Agreement, and provided further that any such transfer shall not involve a

 

 

disposition for value; and (ii) the undersigned may, during the Lock-Up Period, establish a
trading plan pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934, as amended (and/or
modify an existing trading plan), provided that no sales or other transfers occur under such plan
during the Lock-Up Period.

     The Lock-Up Period will commence on the date hereof and continue for a period of 180 days;
provided, however, that: (1) 60 days after the date hereof one-third of the
Securities will be released from the transfer restrictions set forth in this Lock-Up Agreement; and
(2) 120 days after the date hereof an additional one-third of the Securities will be released from
the transfer restrictions set forth in this Lock-Up Agreement; and provided,
further, however, that the Board of Directors of the Company may, in its sole and
absolute discretion, waive completely or reduce the length of the Lock-Up Period and/or waive
completely or reduce the number of Securities subject to the transfer restrictions set forth in
this Lock-Up Agreement.

     The undersigned understands and agrees that this Lock-Up Agreement is irrevocable and shall be
binding upon the undersigned’s heirs, legal representatives, successors, and assigns.

     No provision of this Agreement may be amended or waived without the prior written consent of
the Company.

     This Lock-Up Agreement may be executed in two or more counterparts, each of which shall be
deemed an original but all of which shall be considered one and the same instrument.

     This Lock-Up Agreement will be governed by and construed in accordance with the laws of the
State of Delaware, without giving effect to any choice of law or conflicting provision or rule
(whether of the State of Delaware, or any other jurisdiction) that would cause the laws of any
jurisdiction other than the State of Delaware to be applied. In furtherance of the foregoing, the
internal laws of the State of Delaware will control the interpretation and construction of this
Lock-Up Agreement, even if under such jurisdiction’s choice of law or conflict of law analysis, the
substantive law of some other jurisdiction would ordinarily apply.

	 	 	 	 	 	 	 
	 	 	 	 	Very truly yours,
	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	Exact Name of Stockholder (printed)
	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	Authorized Signature
	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	Title
	 
	 	 	 	 	 	 
	 

	 	 	 	No. of Securities:	 	 
	 

	 	 	 	 	 	 
	Agreed to and Acknowledged:	 	 	 	 
	 
	 	 	 	 	 	 
	TechniScan, Inc.	 	 	 	 
	 
	 	 	 	 	 	 
	By:
	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	David C. Robinson, President	 	 	 	 

2exv10w7

Exhibit 10.7

General Consulting Agreement

This Agreement is by and between TechniScan Medical Systems, Inc., 1011 Murray Holladay Road, Suite
130, Salt Lake City, Utah 84117 (hereafter referred to as “Client”) and The Anson Group, L.L.C.,
(hereinafter referred to as “Anson”), 11460 N. Meridian Street, Suite 150, Carmel, Indiana 46032, a
limited liability company organized under the Laws of Indiana.

NOW THEREFORE, For the mutual covenants and valuable consideration expressed herein, the parties
hereby agree as follows:

	A.	 	Purpose and Scope of Agreement

	 	A. 1.	 	 Purpose —Client wishes to secure the advice and services available
from Anson in matters relating to Client’s business, and Anson agrees, during the
Term of this Agreement, to provide or arrange such services as Client may request.
	 
	 	A. 2.	 	 Scope of Agreement — Anson’s relationship with Client is that of an
independent consultant, and nothing in this Agreement is intended to, or should
be construed to, create a partnership, agency, joint venture or employment
relationship. Neither party is authorized to make any representation, contract
or commitment on behalf of the other party, unless specifically authorized in
writing to do so by the other party.

	B.	 	Project Assignments

	 	B. 1.	 	 The specific responsibilities undertaken by Anson under this
Agreement shall be described in Project Assignments, which shall become part of
this Agreement when approved by the parties in writing. The Initial Project
Assignment is attached to this Agreement as Exhibit A.

	C.	 	Responsibilities of Client

	 	C. 1.	 	 Client shall be responsible for providing Anson with such
documentation and technical, clinical, or business information as Anson may
need in order to perform the services specified in this Agreement. Client shall
be responsible to assure that any and all information and documentation
provided to Anson is accurate and

					
	 	 	 	 	 
	TechniScan Medical Systems — General Consulting Agreement
	 	 	 	1

 

 

	 	 	 	complete, and is provided to Anson in the form and within the time limits
necessary for Anson to comply with its obligations hereunder.

	D.	 	Consulting Fees & Payments

	 	D.1	 	 Consulting fee, invoicing and payment terms shall be in accordance
with the provisions of this section, except as otherwise provided in Project
Assignments, which may specify hourly, daily, fixed-fee or retainer fee
arrangements.
	 
	 	D.2	 	 Retainer Fee arrangements that are agreed upon in Project Assignments
shall specify a monthly maximum for the number of consulting hours to be provided
by Anson. Additional consulting time requested by the Client (Excess Hours) shall
be invoiced at rates set forth in a fee schedule to be provided to Client, unless
otherwise specified in the Project Assignment.
	 
	 	D. 3	 	 Expenses — Client shall reimburse Anson for reasonable expenses
incurred in performing the services defined herein, including, but not limited to,
airplane travel, copying, printing, freight, postage and supplies.
	 
	 	D. 4	 	 Invoices and Payments — Anson shall invoice Client monthly for
services provided and expenses incurred under this Agreement. Anson shall
provide reasonable documentation for expenses invoices. Client agrees to pay
such invoices within thirty (30) days of receipt. Invoices may contain
additional standard or specific payment terms and conditions.

	E.	 	Non-Disclosure of Confidential Information

	 	E. 1.	 	 As part of this Agreement, Anson will execute and abide by the Client
Confidentiality and non-disclosure Agreement attached hereto as Exhibit B.
Exhibit B shall be fully incorporated by reference herein.
	 
	 	E. 2.	 	 This section E shall survive the termination of this Agreement and shall
constitute a post-termination obligation of the Parties

	F.	 	Term and Termination

	 	F. 1.	 	 Term — This Agreement is effective as of the date of the last signature
required as set forth below and will terminate on the date set forth in the
Project Assignment, unless terminated earlier as set forth below.

					
	 	 	 	 	 
	TechniScan Medical Systems — General Consulting Agreement
	 	 	 	2

 

 

	 	F. 2.	 	 Termination without Cause — Except as otherwise provided in a Project
Assignment, either Party may terminate this Agreement upon thirty (30) days
prior written notice to the other Party.
	 
	 	F. 3.	 	 Termination for Cause — Either Party may terminate this Agreement, at
any time, if the other Party breaches the Agreement and fails to correct the
breach within thirty (30) days of receipt of written notice from the non-breaching
Party.
	 
	 	F. 4.	 	 Payment — Client agrees to pay all invoices for consulting services
provided and expenses that were provided or incurred by Anson under this
Agreement prior to the effective date of Termination whether invoiced or not.
This section F.4 shall survive the termination of this Agreement and shall
constitute a post-termination obligation of the Client.

	G.	 	Miscellaneous

	 	G. 1.	 	 Successors — All the terms and conditions of this Agreement shall be
binding upon and shall inure to the benefit of the successors and assigns of each
party. Neither party may assign this agreement without the consent of the other
party, which shall not be unreasonably withheld
	 
	 	G.2.	 	 Entire Agreement — This Agreement, and all exhibits and attachments as
defined or described herein, set forth the entire agreement and supercedes all prior
agreements and understandings, written and oral, between the parties with respect to
the services provided under this Agreement.
	 
	 	G. 3.	 	 Governing Law — The parties agree and understand that this Agreement and
all documents executed pursuant thereto shall be interpreted and enforced in
accordance with the laws of the State of Indiana, USA, notwithstanding any state’s
choice of all rules to the contrary. Further, Anson will abide by the laws of the
United States, or the laws of the state of Indiana, in performance of its obligations
under this agreement.
	 
	 	G. 4.	 	 Severability — In the event that any term or provision of this Agreement
is held by a court of competent jurisdiction to be invalid, void or unenforceable,
the remaining provision will nevertheless continue in full force.
	 
	 	G. 5.	 	 Non-Waiver — The failure by any party at any time to require performance
of any provision hereof shall not affect its right later to require such performance.
	 
	 	G.6.	 	 Limitation of Liability — Except for breaches of confidentiality as provided
in the attached Confidentiality Agreement between Client and Anson,

					
	 	 	 	 	 
	TechniScan Medical Systems — General Consulting Agreement
	 	 	 	3

 

 

	 	 	 	Client agrees that Anson’s damages for liability, adjudicated to be the
responsibility of Anson, for claims by Client or any third party which are related
to any activities Anson undertakes hereunder, shall be limited to the amount which
is the lesser of (1) the amounts covered by any third party commercial insurance
policy maintained by Anson or (2) the amount equal to the sum of payments made to
Anson within the preceding calendar year for the specific services from which the
claim arose.
	 
	 	G. 7.	 	 Notices — All notices, requests, waivers and other communications
required or permitted to be given pursuant to this Agreement shall be in writing and
shall be effective when either served by personal delivery, or by registered or
certified mail addressed to the parties at the addresses set forth on page one of
this Agreement.
	 
	 	G. 8.	 	 Amendment — This Agreement may not be changed, modified or amended
except in writing, signed by all parties hereto, and any attempt at oral modification
hereto shall be void and of no effect.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the dates set forth below:

	 	 	 
	TechniScan Medical Systems, Inc.

	 	The Anson Group, LLC

					
	 	 	 	 	 
	TechniScan Medical Systems — General Consulting Agreement
	 	 	 	4

 

 

11460 N. Meridian Street, Suite 150 • Carmel, IN 46032

Phone: (317) 569-9500 • Fax: (317) 569-9520

Exhibit A

TechniScan Medical Systems, Inc.

Project Assignment

TSC-pa-01

This Project Assignment (PA) describes services that Anson will provide to TechniScan Medical
Systems, Inc. (“Client”) under the General Consulting Agreement dated May 1, 2006. The commencement
date of this PA shall not be later than May 8, 2006. All additions and changes to this PA shall be
documented by Anson and approved or acknowledged in writing by the parties.

	 	1.	 	Objectives and Scope — to support TechniScan’s regulatory approval process including
the development of a clinical design plan that can be incorporated
into TechniScan’s 510(k) and the 510(k) application.
	 
	 	2.	 	Specific Services — work with regulatory and medical communities to develop a
clinical protocol designed to compare traditional 

B-Mode ultrasound imaging of the breast
with TechniScan’s transmission ultrasound technology; assist with the development,
submission and FDA review of a pre-IDE submission and the subsequent 510(k) application.
	 
	 	3.	 	Deliverables — submit clinical study plan, predicates and intended use statement to
FDA for review as a pre-IDE submission by May 22, 2006; submit 510(k) application within
30 days after the completion of the clinical study plan.
	 
	 	4.	 	Responsibilities of Anson — Anson shall use its best effort to provide services under
this agreement in a timely and effective manner and to respond to inquiries and
communications from Client within a maximum of 24-hours. All services to Client shall be
provided by, or under the direct supervision of Colleen Densmore.
	 
	 	5.	 	Responsibilities of Client:

	 	a)	 	Client shall provide such information and updates on the status, activities,
events, plans and strategies of the company as are reasonably required or requested by
Anson in providing services under this PA.

			
	 	 	 
	TechniScan - PA - 01
	1	 

 

 

	 	b)	 	Client shall designate one or more individuals as the primary contact(s),
responsible to provide information and to approve reports, invoices and changes and
additions to this PA.

	 	6.	 	Payment and Invoices

	 	a)	 	Consulting Fees — Client agrees to pay Anson on a(n) hourly fee basis for
consulting services provided under this PA. Please see the attached 2006 Anson Group
Fee document. Fees shall not exceed $200 per hour.
	 
	 	b)	 	Invoices and Payment — Anson will invoice Client for services provided under
this PA. Client agrees to pay such invoices upon receipt. Payment shall be made in U.S.
Dollars by a check drawn on a U.S. bank, or by wire transfer to the account listed on
the invoice. Other standard or specific payment terms may be listed on the invoice.
	 
	 	c)	 	Expenses — As provided in the General Consulting Agreement, Anson shall invoice
for reimbursement of reasonable expenses incurred in providing services to Client
including, but not limited to, airplane travel, copying, printing, freight, postage and
supplies.

	 	7.	 	Term — This PA shall commence on the last date of execution below and continue in
effect until it is completed or terminated by written agreement of the Parties, or by
termination of the General Consulting Agreement.

Agreed and Accepted:

			
	 	 	 
	TechniScan - PA - 01
	2	 

 

11460
N. Meridian Street, Suite 150 • Carmel, IN 46032

Phone: (317) 569-9500 • Fax: (317) 569-9520

(Techniscan Medical Systems)
 Project Assignment

(TMS-01)

This Project Assignment (PA) describes services that The Anson Group (“Anson”) will provide to
Techniscan Medical Systems, Inc. (“Client”) under the General Consulting Agreement executed May 3,
2006. The commencement date of this PA shall not be later than April 9, 2008. All additions and
changes to this PA shall be documented by Anson and approved or acknowledged in writing by the
parties.

	 	1.	 	Objectives and Scope — To assist Client in achieving FDA product marketing
approvals by providing timely regulatory affairs and quality system
compliance support.
	 
	 	2.	 	Specific Services

	 	a)	 	To advise and assist Client in responding to the March 31, 2008 FDA’s
request for addition information in support of the K073469 Premarket Notification
(“510K”) submission filed in October 2007.

	 	•	 	Provide recommendations and meet with management and staff to
develop and agree upon a response plan and timetable.
	 
	 	•	 	Undertake specific research, draft documentation and other
relevant tasks as requested by Client.

	 	b)	 	Advise and assist Client in planning and executing future FDA
marketing approvals.

	 	•	 	Review Client business goals and current FDA marketing approval plans.
	 
	 	•	 	Review current QA system compliance status and FDA
submission documentation capabilities.
	 
	 	•	 	Develop and deliver to Client recommendations for
improving FDA marketing approval plans to reduce risk of delays and cost
over-runs.

					
	 	 	 	 	 
	Techniscan Medical Systems 1.
	 	project asssignment TMS-01
	 	1

 

 

	 	3.	 	Responsibilities of Anson — Anson shall use its best effort to provide services under this
agreement in a timely and effective manner and to respond to inquiries and communications from
Client within a maximum of 24-hours. All services to Client shall be provided by, or under the
direct supervision an Anson Gr

	 	4.	 	Responsibilities of Client:

	 	a)	 	Client shall provide such information and updates on the status, activities,
events, plans and strategies of the company as are reasonably required or requested by
Anson in providing services under this PA.

	 	b)	 	Client shall designate one or more individuals as the primary contact(s),
responsible to provide information and to approve reports, invoices and changes and
additions to this PA.

	 	5.	 	Payment and Invoices

	 	a)	 	Consulting Fees (Including 10% discount)

	 	•	 	Regulatory Associate (Allison Scott; Sharon Kvistad): $180/hour
	 
	 	•	 	Senior Regulatory Consultant (Russ Gray): $225/hour
	 
	 	•	 	Principal: (Colleen Hittle; Gerald Richardson): $315/hour
	 
	 	•	 	Administrative Services: $40/hour

Travel
time is billed at 1⁄2 the above hourly
rate

	 	c)	 	Invoices and Payment — Anson will invoice Client for services provided under
this PA. Client agrees to pay such invoices upon receipt. Payment shall be made in U.S.
Dollars by a check drawn on a U.S. bank or by wire transfer to the account listed on
the invoice. Other standard or specific payment terms may be listed on the invoice.

Client agrees to accept electronic invoices.

	 	d)	 	Expenses — As provided in the General Consulting Agreement, Anson shall
invoice for reimbursement of reasonable expenses incurred in providing services

					
	 	 	 	 	 
	Techniscan Medical Systems 1.
	 	project asssignment TMS-01
	 	2

 

 

	 	 	 	to Client including, but not limited to, airplane travel, copying, printing,
freight, postage and supplies.

	 	6.	 	Term — This PA shall commence on the last date of execution below and continue in
effect until it is completed or terminated by written agreement of the Parties, or by
termination of the General Consulting Agreement.

Agreed and Accepted:

					
	 	 	 	 	 
	Techniscan Medical Systems 1.
	 	project asssignment TMS-01
	 	3

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