Document:

ex10-43.htm

    EXHIBIT 10.43

     

    

    

    April 7,
2009

    

    

    Warren
Bielke

    18719
Bearpath Trail

    Eden
Prairie, MN  55347

    

    Dear
Warren:

    

     

    The
purpose of this letter Agreement (this “Agreement”) is to acknowledge and set
forth the terms and conditions of your retention as a non-exclusive independent
contractor (“you” or “Consultant”) to Vision-Sciences, Inc., a Delaware
corporation (the “Company,” or “us”).

    

    1.           Retention
as a Consultant.  The Company
hereby agrees to retain you and you hereby agree to provide services to the
Company as a non-exclusive independent consultant subject to, and in accordance
with, the terms and conditions of this Agreement.

     

    2.           Duties.  You will serve as
a marketing consultant for the Company, leading the market development program
of the Company’s trans-nasal esophagoscope (the “Services”), in coordination
with the Company’s chief executive officer and marketing team.

     

    3.           Fees and
Expenses.  The Company will
pay you a consulting fee of $8,000 per month for the Services, based on an
expectation that you will provide approximately thirty (30) hours of working
time in performing the Services.  You will issue a monthly invoice and
Company will make payment within 30 days.   This fee excludes any
additional sums to which you may be entitled by virtue of your role as a member
of the Company’s Board of Directors.  The Company will reimburse you
in accordance with the Company’s expense reimbursement policy, for all
reasonable and necessary business expenses incurred in connection with the
performance of the Services.

     

    4.           Independent
Contractor.  Your engagement
hereunder will be as an independent contractor, rather than as an employee of
the Company, and you will not be entitled to any benefits available to employees
of the Company.  You acknowledge that you will be solely responsible
for any federal, state or local income or self-employment taxes arising with
respect to your fees hereunder and that you have no state law workers’
compensation rights with respect to your services under this
Agreement.  As an independent contractor, you will have no authority
to legally bind the Company and will not hold yourself out as having such
authority.  You agree to observe all policies and rules established by
the Company for its independent contractors.

     

    5.           Termination.  Either
party may terminate this Agreement at any time, with or without cause, for
convenience or for any other purpose, by giving five days prior written notice
to the other party.

     

     

    
      40
Ramland Road South  Orangeburg, NY 10962

      Tel:
(845) 365-0600  Fax: (845)
365-0620  www.visionsciences.com

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
       

    

    6.           Restrictive
Covenants.

     

    (a)           Confidentiality.  While you are a
consultant to the Company and thereafter, you will hold in a fiduciary capacity
for the benefit of the Company and any of its affiliates (the “Company Group”)
all secret or confidential information, knowledge or data relating to the
Company Group and their respective businesses, practices or technologies which
is obtained by in connection with your providing Services and which is not or
does not become public knowledge (other than by acts by you or your
representatives in violation of this Agreement).  You will not, except
as may be required to perform your duties hereunder or as may otherwise be
required by law or legal process, without limitation in time or until such
information becomes public or known in the Company Group’s industry (other than
by acts by you or your representatives in violation of this Agreement),
communicate or divulge to others or use, whether directly or indirectly, any
such information, knowledge or data regarding the Company Group and their
businesses, practices or technologies.

     

    (b)           Inventions.  You
will promptly disclose to the Company all processes, trademarks, inventions,
improvements, discoveries and other information (collectively, “Inventions”)
conceived, developed or acquired by you alone or with others during
(i) your provision of Services to the Company, whether or not conceived
during regular working hours and whether conceived through the use of the time,
material or facilities of the Company or related parties or otherwise and
(ii) the period of six months following the date you last provide Services
to the Company. All such Inventions will be the sole and exclusive property of
the Company and, upon request of the Company, you will deliver to the Company
all drawings, sketches, models, codes, data and records relating to such
Inventions and irrevocably confirm your assignment of such Inventions to the
Company or its designee, including executing any documents necessary to effect
such assignments.  If  any such Inventions will be deemed by
the Company to be patentable, you will, at the expense of the Company (which
will, in the event that you are no longer retained under this Agreement, include
reasonable compensation to you for the time involved), assist the Company or its
designee in obtaining a patent or patents thereon and execute all documents and
do all other things necessary or proper to obtain letters patent and to vest the
Company or its designee with full title and rights thereto.

     

    (c)           Non-Disparagement.  You
will not, and you will not induce others to, Disparage (as defined below) the
Company Group or any of their past and present officers, directors or employees
or business, technologies or products.  “Disparage” means making
comments or statements to the press, the Company Group’s employees or any
individual or entity with whom the Company Group has a business relationship
that would adversely affect in any manner: (i) the conduct of the business
of the Company Group (including, without limitation, any products, technologies
or business plans or prospects); or (ii) the business reputation of the
Company Group, or any of their businesses, technologies or products, or their
past or present officers, directors or employees.

     

    (d)           Non-interference;
Non-solicitation.  You will not, and you will not induce others
to (i) interfere with, disrupt or attempt to disrupt any existing relationship,
contractual or otherwise, between the Company Group and any of
its  customers, suppliers, clients, executives, employees or other
persons with whom the Company deals, or (ii) solicit for employment, attempt to
employ or assist any other entity in employing or soliciting for employment any
employee or executive who is at that time employed by the Company
Group.

     

    

    
       

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

      
         

      

       

    

    (e)           Injunctive
Relief.  You understand that any violation of paragraphs 6(a)
through 6(d) of this Agreement will cause the Company Group to suffer immediate
and irreparable injury and that the Company Group would by reason of such
violation be entitled to injunctive relief in a court of appropriate
jurisdiction.  You hereby consent and stipulate to the entry of such
injunctive relief in such court, without bond, prohibiting, restraining or
enjoining you from taking any action in violation of paragraphs 6(a) through
6(d) of this Agreement.

     

    (f)           Survival
of Provisions.  The obligations contained in this Section 6
will survive the termination of this Agreement and the termination of your
consultancy and will be fully enforceable thereafter.  If it is
determined by a court of competent jurisdiction in any state that any
restriction in this Section 6 is excessive in duration or scope or extends for
too long a period of time or over too great a range of activities or in too
broad a geographic area or is unreasonable or unenforceable under the laws of
that state, it is the intention of the parties that such restriction may be
modified or amended by the court to render it enforceable to the maximum extent
permitted by the law of that state or jurisdiction.

     

    7.           Representations.  You represent and
warrant that (i) your execution and performance of this Agreement will not
violate any other agreement to which you are a party and (ii) you shall not
utilize during the term of the consultancy any proprietary information of any
third party, and shall indemnify and hold us harmless against any such
claim.

     

    8.           Assignment.  Notwithstanding
anything in this Agreement to the contrary, this Agreement is personal to you
and neither this Agreement nor any rights hereunder may be assigned by you to
any other person or entity.  The Company may assign this Agreement to
an affiliate or to any acquirer of all or substantially all of the assets of the
Company.  This Agreement will inure to the benefit of and be binding
upon the personal or legal representatives, executors, administrators,
successors, heirs, distributees, devisees, legatees and permitted assignees of
the parties.

     

    9.           Arbitration.  You agree that
all disputes and controversies arising under or in connection with this
Agreement, other than seeking injunctive or other equitable relief under
paragraph 6(e), will be settled by arbitration conducted before one (1)
arbitrator mutually agreed to by the Company and you, sitting in New York, New
York or such other location agreed to by you and the Company, in accordance with
the Commercial Arbitration Rules of the American Arbitration Association then in
effect.  If the Company and you are unable to agree on a single
arbitrator within 30 days of the demand by the other party for arbitration, an
arbitrator will be designated by the New York City Office of the American
Arbitration Association.  The determination of the arbitrator will be
final and binding on you and the Company Group.  Judgment may be
entered on the award of the arbitrator in any court having proper
jurisdiction.  Each party will bear their own expenses of such
arbitration.

     

    10.           Governing
Law.  This Agreement
will be governed by, and construed under and in accordance with the internal
laws of the State of New York, without reference to its conflicts of laws
rules.

     

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
       

    

    

    11.           Entire
Agreement.  This Agreement
and any other agreements referenced herein contain the entire agreement of the
parties relating to the subject matter hereof, and supersede in their entirety
any and all prior agreements, understandings or representations, both written
and oral, relating to the subject matter hereof.  No amendments,
alterations or modifications of this Agreement will be valid unless made in
writing and signed by both parties hereto.

     

    12.           Effective
Date.  The effective
date of this Agreement and the commencement of the Company’s obligation to pay
your fees are subject to the approval of the Company’s Board of Directors, and
compliance with any applicable NASD and SEC disclosure
requirements.

     

    We hope
that you find the foregoing terms and conditions acceptable.  You may
indicate your agreement with the terms and conditions set forth in this
Agreement by signing the enclosed duplicate original of this Agreement and
returning it to my attention.

    

    Very
truly yours,

    

    VISION-SCIENCES,
INC.

    

    

    /S/ Ron
Hadani

    Ron
Hadani

    President
and CEO

    

    

    

    

    ACCEPTED
AND AGREED BY:

    

    

    /S/ Warren
Bielkie                                                      

    Warren
Bielkeex10-44.htm

    EXHIBIT
10.44

     

     

    
      THIS FOURTH AMENDMENT TO LEASE
dated as of April 2, 2009, made by and between 30 RAMLAND ROAD, LLC, having
an office in care of GHP Office Realty, LLC, Four West Red Oak Lane, White
Plains, New York 10604, as “Landlord,” and VISION-SCIENCES, INC., having
an office at 40 Ramland Road, Orangeburg, New York 10962, as “Tenant.”

      

      W
I T N E S S E T H

      

      WHEREAS, Landlord is the
Landlord of the real property and building located thereon commonly known as and
located at 40 Ramland Road, Orangeburg, New York 10962 (the “Building”);

      

      WHEREAS, pursuant to that
certain Agreement of Lease, dated as of March 23, 2000 (the “Original Lease”),
as amended by that First Amendment of Lease dated as of August 31,
2000,  as further amended by Second Amendment to Lease dated as of
January 7, 2005, and as further amended by Third Amendment to Lease dated as of
December 26, 2006 (hereinafter referred to collectively as the “Lease”), Landlord’s
predecessor in interest leased to Tenant a portion of the First (1st) floor
of the Building which shall be deemed to consist of Fifteen Thousand, Two
Hundred and Fifty  (15,250) rentable square feet and which premises
are more particularly described in the Lease (the “Original Premises”),
for a period ending on August 31, 2010;

      

      WHEREAS, Tenant has outgrown
the Original Premises and wants to lease from the Landlord additional space
located on the First (1st) floor
of the Building which shall be deemed to consist of Five Thousand, Two Hundred
Fifty (5,250) rentable square feet, as more particularly shown on EXHIBIT
“A“annexed hereto (the “Second Additional
Space”) for the Additional Term (as hereinafter defined);

      

      WHEREAS, Landlord and Tenant
want to extend and modify the Lease, as hereinafter provided;

      

      NOW, THEREFORE, in
consideration of the mutual agreements of the parties hereinafter contained, and
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, it is hereby agreed as follows:

      

      ARTICLE
- 1 DEFINITIONS

      

      SECTION 1.01.  For the
purposes of this Fourth Amendment to Lease, and all agreements supplemental to
this Fourth Amendment to Lease, unless the context otherwise
requires:

      

      A.  All
capitalized terms used herein and not otherwise defined herein but defined in
the Lease shall have the meanings ascribed to said terms as set forth in the
Lease, unless otherwise so noted.

      

      B. As
used herein, the “Second Additional Space
Commencement Date” shall mean the earlier to occur of: (i) the date upon
which Tenant substantially completes Tenant’s Work (as hereinafter defined); or
(ii) the date in which Tenant occupies the Second Additional Space for the
conduct of its business. Upon determination of the date which is the Second
Additional Space Commencement Date and/or the Expiration Date, as provided in
this Section, either party, upon the request of the other, shall execute and
deliver to the other a certificate setting forth the Second Additional Space
Commencement Date, and/or the Expiration Date in the form annexed hereto as
EXHIBIT “B”,
but the failure to execute and deliver such certificate shall not detract from
the effectiveness of any of the provisions of this Lease.

      

      C. “Additional Term”
shall mean the period commencing on the Second Additional Space Commencement
Date and expiring on the Expiration Date

      

      D.  “Expiration Date”
shall mean the last day of the month in which the sixth (6th)
anniversary of the Second Additional Space Commencement Date
occurs.

      

      
        
          
          

        

        
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      E. “Substantial
Completion” or words of similar effect shall mean as follows: The Second
Additional Space shall be deemed complete on the earliest date on which Tenant’s
Work in the Second Additional Space has been substantially completed,
notwithstanding the fact that minor or insubstantial details of construction,
mechanical adjustment or decoration remain to be performed, the non-completion
of which would not materially interfere with Tenant's use of the Second
Additional Space.  (As all the space occupied by VSI is being
renovated, “Substantial Completion” would relate to the entire
space.)

      

      ARTICLE-2
ADDITIONAL
TERM

      

      SECTION
2.01.  A.  Landlord hereby leases to Tenant and Tenant
hereby hires from Landlord the Original Premises for the Additional
Term.  The parties hereto acknowledge that Tenant presently occupies
the Original Premises and knows the condition thereof.  Except as
otherwise specifically provided for in this Fourth Amendment to Lease, Landlord
shall have no obligation whatsoever to perform any build-out or similar work to
the Original Premises, and Tenant agrees to accept same in “AS IS” physical
order and condition on the Second Additional Space Commencement Date and without
any representation or warranty, express or implied, in fact or by law, by
Landlord, and without recourse to Landlord, as to title thereto, the nature,
square footage, condition or usability thereof or as to the use or occupancy
which may be made thereof.

      

      B.
Landlord hereby leases to Tenant and Tenant hereby hires from Landlord the
Second Additional Space for the Additional Term.  Tenant has inspected
the Second Additional Space and the state of title thereto and Tenant accepts
the Second Additional Space in its “AS IS” state and condition on the Second
Additional Space Commencement Date and without any representation or warranty,
express or implied, in fact or by law, by Landlord, and without recourse to
Landlord, as to title thereto, the nature, condition, square footage or
usability thereof or as to the use or occupancy which may be made
thereof.

      

      ARTICLE-3 TENANT’S WORK; LANDLORD’S
CONTRIBUTION

      

      SECTION
3.01 A.  Tenant shall build out the Second Additional Space with
finishes, lighting and fixtures, equipment, furniture, furnishings, floor
coverings, and the like for general office use (collectively, “Tenant’s
Work”).  The plans for Tenant’s Work (the “Floor Plans”) are
annexed hereto as EXHIBIT “C” and have been approved by Landlord.

      

      B.  Landlord
will pay all architect related costs.

      

      C.  Tenant
shall obtain all permits and approvals required in connection with Tenant’s
Work, and the Floor Plans shall be subject to revisions based on laws and
requirements of public authorities and requirements of insurance
bodies.  If any common foyers or exit passes mandated by such
regulations are used by more than one tenant, the size of such areas or passages
and the rent therefor shall be apportioned among the tenants in relation to the
total square footage which they proportionately occupy, and Tenant’s share of
such charges shall be payable as additional rent.

      

      D.  Tenant
and its contractors shall be entitled to access to the Second Additional Space
provided they accept the administrative supervision of
Landlord.  Worker’s Compensation, public liability and property damage
insurance, as set forth in this Lease, shall be maintained by Tenant and/or its
contractors, and certificates of such insurance shall be furnished to Landlord
upon execution and delivery of this Fourth Amendment to Lease.  Tenant
shall use the Second Additional Space for general office, storage and warehouse
purposes only.  Tenant shall not make any additional alterations or
additions in the Second Additional Space other than cosmetic modifications
without the prior written permission of Landlord, which shall not be
unreasonably withheld or delayed.

      

      
        
          
          

        

        
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      SECTION
3.02. Landlord shall make a contribution (“Landlord’s
Contribution”) in the amount of sums expended by Tenant on Tenant’s Work,
but in no event greater than $160,000.00,  which  shall be
applied to Soft Costs (hereinafter defined) and “Hard Costs” (hereinafter
defined) only.  Such Landlord’s Contribution shall be made directly to
Tenant’s contractor or subcontractors, as the case may be, in Pro Rata
Installments:

      

      (i)
Tenant shall have delivered to Landlord a completed requisition for payment,
signed and certified as true by Tenant and by Tenant’s architect, stating the
amount requested for payment, which shall include the percentage of Tenant’s
Work that has been completed, and shall indicated a minimum of ten (10%) percent
retainage of payments by Tenant to its contractors;

      

      (ii) Such
Tenant’s Work shall have been completed in accordance with Floor Plans approved
by Landlord and other wise in accordance with the Lease, including, without
limitation, such completion shall be certified by Tenant and Tenant’s
architect;

      

      (iii)
Tenant shall not be in default under the Lease beyond the expiration of any
applicable notice and cure period; and

      

      SECTION
3.03.  The final Pro Rata Installment, which shall not be less than
10% of Landlord’s Contribution, shall not be paid until, in addition to
satisfaction of the provisions above, Tenant provides Landlord with evidence
that the applicable municipal department has issued the appropriate sign-offs
relating to Tenant’s Work (if such sign-off shall be
required).  “Pro Rata
Installments” shall mean the cost of the proportion of Tenant’s Work
performed multiplied by a fraction, the numerator of which is Landlord’s
Contribution and the denominator of which is the total cost of Tenant’s Work, as
reasonably estimated by Landlord based upon information, plans and construction
contracts given by Tenant to Landlord.  The term “Soft Costs” shall
mean any amounts paid by Tenant in connection with Tenant’s Work attributable to
architect, attorney, engineering and permit and filing fees, as well as moving
costs, the costs of installing computer, telephone and electronic equipment and
the cost of telephone system equipment.  “Hard Costs” shall
include all other costs incurred by Tenant in connection with Tenant’s Work,
including, without limitation, carpeting, computer cabling, electrical work and
cabling, supplemental air conditioning units and coils for air conditioning
units, built in cabinetry and built in furniture and all other items of
construction and renovation.

      

      SECTION
3.04.  Upon the disbursement of the entire Landlord’s Contribution,
Landlord shall have no further obligation or liability whatsoever to Tenant for
further disbursement of any portion of Landlord’s Contribution to
Tenant.  It is expressly understood and agreed that Tenant shall
complete at its sole cost and expense, Tenant’s Work, whether or not Landlord’s
Contribution is sufficient to fund such completion.  Any costs to
complete Tenant’s Work in excess of Landlord’s Contribution shall be the sole
responsibility and obligation of Tenant.

      

      ARTICLE-4 LANDLORD’S
WORK

      

      SECTION
4.01.    Landlord (which term as used herein may be deemed
to mean Landlord and/or Landlord's affiliated or non-affiliated contractor)
shall perform the work set forth and described on EXHIBIT “D” annexed hereto
(collectively, the “Landlord’s
Work”).

      

      

      
        
          
          

        

        
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      ARTICLE
- 5 LEASE
AMENDMENTS

      

      SECTION 5.01.  Effective as
of the date of the Second Additional Space Commencement Date, the Lease is
hereby modified as follows:

      

      A.  The term “demised
premises” or “Demised Premises” as defined in the Lease is hereby deleted in its
entirety and a new definition is added as follows:

      

      “Demised
Premises” shall mean that portion of the First (1st) Floor
in the Building and which shall be deemed to consist of Fifteen Thousand, Two
Hundred and Fifty (15,250), rentable square feet and which is more particularly
described in the Lease together with that portion of the First (1st) Floor
in the Building and which shall be deemed to consist of Five Thousand, Two
Hundred Fifty (5,250) rentable square feet and which is more particularly
described on EXHIBIT “A“ annexed hereto and made a part hereof for a total of
Twenty Thousand, Five Hundred (20,500) rentable square feet.”

      

      B.  The “Term” as set forth
in Section 3.1 of the Lease and paragraph 1 of the Second Amendment to Lease
shall mean the Additional Term as defined in this Fourth Amendment to
Lease.

      

      C.   Section 5.2 of
Article 5 of the Lease entitled “Real Estate Tax Payment” is
hereby amended to provide that Tenant’s percentage share shall be amended from
Nineteen and Six One Hundredths (19.06%) percent to  Twenty-Five (25%)
percent.

      

      D.  Section
6.1 of Article 6 of the Lease entitled “Expense Payment” (as amended
by paragraph G of the Third Amendment to Lease) is hereby amended to delete the
words “multiplied by $22,875 (based on 15,250 square feet multiplied by $1.50)”
and to insert the words “multiplied by $30,750 (based on 20,500 square feet
multiplied by $1.50)” in their place.  Such base amount is included in
the fixed annual rent shown below.

      

      E. The
Fixed Annual Rent set forth in the Lease is hereby deleted and a new rent
schedule is hereby added as follows:

      

      
        
          
            
              	
                      Period

                    	
                      Fixed
      Annual Rent

                    	
                      Fixed
      Monthly Rent

                    
	
                      Second
      Additional Premises Commencement Date to the day preceding the Second
      (2nd)
      Anniversary of the Second Additional Premises Commencement
      Date

                    	
                      $322,875.00

                    	
                      $26,906.00

                    
	
                      The
      Second (2nd)
      Anniversary of the Second Additional Premises Commencement Date to the day
      preceding the Fourth (4th)
      Anniversary of the Second Additional Premises Commencement
      Date

                    	
                      $333,125.00

                    	
                      $27,760.00

                    
	
                      The
      Fourth (4th) Anniversary of the Second Additional Premises Commencement
      Date to the Expiration Date

                    	
                      $343,375.00

                    	
                      $28,615.00

                    

            

          

        

      

      

      F.
Section 7.1 (i) is hereby inserted into the Lease immediately after Section 7.1
(h) as follows:

      

      “(i)
Landlord shall provide electricity to Tenant in the Additional Space on a
metered basis.   In connection therewith, Tenant agrees to pay to
Landlord 100% of the existing electric meters measuring electrical usage on the
First (1st) Floor
of the Building during the Additional Term.”

      

      
        
          
          

        

        
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      G.   Article 31 of the
Lease entitled “Notices” is hereby amended by providing that all notices to
Landlord under the Lease shall be sent to 30 Ramland Road, LLC in care of GHP
Office Realty, LLC, Four West Red Oak Lane, White Plains, New York
10604.

      

      H.
Article 35 of the Lease entitled “Security Deposit” is hereby amended by
providing that Tenant shall deposit with Landlord the additional sum of
$15,928.00, which together with the existing sum equal to $41,302.02, for a
total of $57,230.00 shall comprise the security held by Landlord for the
faithful performance and observance by Tenant of the terms, provisions and
conditions of the Lease.

      

      I.  The
Lease is hereby amended to insert the following Article 52 immediately following
Article 51 thereof:

      

      “52.  Cleaning.   Tenant,
at its own cost and expense, shall keep the Demised Premises clean and in good
order, and shall employ only such cleaning contractors as are approved by
Landlord.  In the event of Tenant's failure to keep the Demised
Premises, including, but not limited to the bathrooms, clean and in good order,
Landlord shall have the right, at Tenant's expense, to take all necessary and
proper measures to clean the Demised Premises.  At Landlord's option,
Tenant shall pay to Landlord, as additional rent, the cost of employing a
cleaning contractor, on a regular basis, to keep the Demised Premises clean and
in good order.  Tenant shall keep the bathrooms comprising a part of
the Demised Premises, stocked with paper towels and all other bathroom
products.  Landlord shall furnish and install all replacement
lighting, tubes, lamps, bulbs and ballasts required in the Demised Premises, and
Tenant shall pay to Landlord or its designated contractor upon demand Landlord’s
then established charges for labor and materials in connection
therewith.”

      

      J. The
Lease is hereby amended to delete any obligation of Landlord to perform
alterations or work to the Demised Premises in preparation for Tenant’s
occupancy, other than Landlord’s Work as set forth in this Fourth Amendment to
Lease.

      

      ARTICLE
– 6 BROKERS

      

      SECTION
6.01.    Tenant represents that in connection with this
Fourth Amendment to Lease it dealt with no broker, nor has Tenant had any
correspondence or other communication in connection with this Fourth Amendment
to Lease with any other person who is a broker other than GHP Office Realty, LLC
(the “Brokers”), and that
so far as Tenant is aware no brokers other than the Brokers negotiated this
Fourth Amendment to Lease.  Each party hereby indemnifies the other
party and holds it harmless from any and all loss, cost, liability, claim,
damage, or expense (including court costs and attorneys’ fees) arising out of
any inaccuracy of the above representation.  Landlord agrees to pay
the Brokers their commissions pursuant to a separate written agreement with the
Brokers.

      

      ARTICLE
- 7 CONFIDENTIALITY

      

      SECTION 7.01.  A. In
anticipation of executing and delivering this Fourth Amendment to Lease, Tenant
hereby agrees to keep the rent, additional rent and all other material terms of
the Lease , as amended by this Fourth Amendment to Lease (hereinafter such
information is referred to collectively as the “Confidential
Information”) secret and confidential and will not disclose it, directly
or indirectly, to any other person, firm or entity without the specific written
approval and consent of Landlord, except to the extent required by
law.

      

      B.  The agreement to keep the
Confidential Information secret and confidential pursuant to this Section shall
be for a period of one (1) year succeeding the expiration or sooner termination
of the Lease and shall apply to each, every and all communications, negotiations
and conversations between Tenant and any other person, entity or
thing.

      

      
        
          
          

        

        
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      C.  Tenant acknowledges that
breach of this Article will cause irreparable damage to Landlord and hereby
consents to the issuance of an injunction restraining such breach as a matter of
course in any action instituted for that purpose without limitation to any
additional remedies Landlord may seek against Tenant to protect such
Confidential Information.

      

      ARTICLE
- 8 MISCELLANEOUS

      

      SECTION
8.01.  Tenant represents that: (i) Landlord is not in default of any
of its obligations under the Lease; (ii) Tenant has no claims against Landlord
as of the date of this Fourth Amendment to Lease; and (iii) Tenant is in
possession of the Original Premises.

      

      SECTION
8.02.  All other terms, covenants and conditions of the Lease, as
amended, including, but not limited to, the obligation to pay the Tax Payments,
Expense Payments and all other additional rent items, and all exhibits and
schedules thereto shall remain in full force and effect, are hereby ratified,
confirmed and incorporated herein by reference as though set forth fully herein
at length.

      

      SECTION
8.03.   It is understood and agreed that this Fourth
Amendment to Lease is submitted to the Tenant for signature with the
understanding that it shall not bind the Landlord unless and until it has
been executed by Landlord and delivered to Tenant or Tenant's
attorney.

      

      

      IN WITNESS WHEREOF, Landlord
and Tenant have executed this FOURTH AMENDMENT TO LEASE as of the date and year
first above written.

      

      30 RAMLAND ROAD, LLC,
(Landlord)

      

      

      By: /S/ Andrew
Greenspan

      Name:  Andrew
Greenspan

      Title:    Member/Manager

      

      VISION-SCIENCES, INC,
(Tenant)

      

      

      By: /S/ Katherine L.
Wolf

      
        Name:
Katherine
L. Wolf

      

      Title: Chief Financial
Officer

       

       

      
        
          
          

        

        
          Page 6 of
8

          
            

          

        

        
          
          

        

      

      EXHIBIT
”B”

      

      THE
COMMENCEMENT DATE CERTIFICATE

      

      DECLARATION
BY LANDLORD AND TENANT AS TO DATE OF THE SECOND ADDITIONAL SPACE COMMENCMENT
DATE

      

      Attached
to and made a part of the Lease dated the 23rd day of March, 2000, as amended
from time to time, entered into and by 30 RAMLAND ROAD,
LLC,  as LANDLORD, and _________________________________________,
as TENANT.

      

      LANDLORD
AND TENANT do hereby declare that the Second Additional Space Commencement Date
occurred on the _____ day of _________________, 20___.   The
Lease is in full force and effect, and as of the date hereof LANDLORD has
fulfilled all of its obligations under the Lease. The Expiration Date is
_____________________, 20___ unless the Lease is sooner terminated.

      

      IN WITNESS WHEREOF, the
parties to this Commencement Date Certificate have executed the same on the day
and in the year first above written.

      

      30 RAMLAND ROAD, LLC,
Landlord

      

      

      

      By:_________________________________________________

      Name:     Andrew
Greenspan

      Title:       Member/Manager

      

      Vision-Sciences,
Inc. , Tenant

      

      

          By: /S/ Katherine L.
Wolf

      
        Name:
Katherine L. Wolf

      

          Title: Chief
Financial Officer

      

      

      

      
        
          
          

        

        
          Page 7 of
8

          
            

          

        

        
          
          

        

      

       

      EXHBIT “D
“

      
        
          	
                  Landlord ‘s Work

                
	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      
	
                  Parking
      Lot Drainage

                	 
      	
                  Landlord
      to cut a trench and install new perforated pipe below grade to collect
      ground water and surface water in the front parking lot.  This
      water will be redirected to an existing catch basin.  The
      asphalt will be repaired in these areas.  These upgrades will be
      designed by licensed engineer.

                	 
      
	 
      	 
      	 
      	 
      
	
                  Landscaping

                	 
      	
                  Landlord
      and tenant to mutually agree on upgrades to landscaping around the main
      entrance.  Landlord to provide tenant with an architectural plan
      to tenant for their review and approval.  This work would
      include the removal of trees at the entrance.

                	 
      
	 
      	 
      	 
      	 
      
	
                  Sidewalk
      Pavers

                	 
      	
                  Landlord
      to install new pavers at main entrance.  The pavers will be
      extended on either side of the sidewalk and include an area on each side
      for a bench and plantings.  Material cost shall not exceed $6 /
      sf.  See plan attached as Exhibit A.

                	 
      
	 
      	 
      	 
      	 
      
	
                  Awning

                	 
      	
                  Landlord
      to install new fabric awning over the main entry doors.  Awning
      will be no wider than the current opening and color will be selected by
      Owner.

                	 
      
	 
      	 
      	 
      	 
      
	
                  Electric
      Service

                	 
      	
                  Landlord
      will provide a new 400 amp service from the building electrical service
      and feed a new 200 amp panel.  We will tap the existing service
      cables and provide a new utility meter.  This panel will be
      located in the existing meter room.  This will give the tenant
      1,100 total amps with the ability to add an additional 100 - 150 amps in
      the future.

                	 
      
	 
      	 
      	 
      	 
      
	
                  Supplemental
      HVAC

                	 
      	
                  The
      Landlord will install one new HVAC unit the new warehouse area
      (approximately 1,600 sf).  This new unit will be consistent with
      other equipment serving the space and the same load calculations will be
      followed.  This new unit will have a maximum of 5 tons of
      cooling.  Once the construction of the demised premises is
      complete, the Landlord will balance the entire space.

                	 
      
	 
      	 
      	 
      	 
      
	
                  Windows

                	 
      	
                  Landlord
      to inspect and caulk all windows as needed.

                	 
      
	 
      	 
      	 
      	 
      
	
                  Signage

                	 
      	
                  Landlord
      to provide a location for a sign, on grade, in front of the
      building.

                	 
      
	 
      	 
      	 
      	 
      
	
                  Lobby

                	 
      	
                  The
      front lobby would match the new Tenant reception area.

                	 
      
	 
      	 
      	 
      	 
      
	
                  General

                	 
      	
                  The
      Landlord will power wash the front of the building, the vending machine
      will be removed from the lobby, and the space under the steps will be
      emptied.

                	 
      
	 
      	 
      	 
      	 
      

        

      

      

      Page 8 of 8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00160-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00160-of-00352.parquet"}]]