Document:

Exhibit 10.11 to Electromed, Inc. Form S-1/A

 

Exhibit 10.11

 

ASSIGNMENT

 

                WHEREAS, we, ____________________(hereinafter
“ASSIGNOR”), have invented, and are the joint owners of, ____________________
having certain novel features and various configurations disclosed and claimed
in United States patent application _________________ filed ___________,
referred to as the “the Application”; and

 

                WHEREAS,
Electromed, Inc. (hereinafter “ASSIGNEE”), a corporation organized and existing
under and by virtue of the laws of the State of Minnesota, and having its principal
place of business at 502 Sixth Avenue NW, New Prague, Minnesota, is desirous of
acquiring the entire interest in the invention and the Application and in any
improvements thereto;

 

                NOW,
THEREFORE, in consideration of One Dollar ($1.00) and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
ASSIGNOR by these presents does sell, assign and transfer unto ASSIGNEE, its
successors, assigns and legal representatives, the full and exclusive right to
the invention as described in the aforesaid Application and to any and all
patents, registrations, and the like, resulting from the Application, in the
United States and all foreign countries, together with the right of priority
under the International Convention for the Protection of Industrial Property,
Inter-American Convention Relating to Patents, Designs and Industrial Models,
and any other international agreements to which the United States adheres, and
hereby authorize and request the Commissioner for Patents to issue to ASSIGNEE
Letters Patent on the pending Application for the sole use and benefit of
ASSIGNEE, its successors, assigns and legal representatives,

 

                AND HEREBY
AGREES to transfer a like interest upon request of ASSIGNEE, its successors,
assigns and legal representatives, and without further remuneration, in and to
any improvements and applications for patents based thereon, growing out of or
relating to the invention; and to provide all reasonable assistance and execute
any papers deemed essential by ASSIGNEE, its successors, assigns and legal
representatives, to ASSIGNEE’s full protection and title to the invention
hereby transferred,

 

                AGREEING,
FURTHERMORE, upon request of ASSIGNEE, and without further remuneration, to
execute any and all papers desired by ASSIGNEE for the filing and granting of
foreign applications and the perfecting of title thereto in ASSIGNEE.

 

                EXECUTED this
_____ day of __________________________________________.

 

	
   

  	
   

  	
   

  

 

 

 

Schedule of Patent Assignments Made Pursuant to Form of Assignment

 

	
Assignment of Patent Application #11,594,014 from Lonnie J. Helgeson and Michael W. Larson, issued as patent #7,713,219.

 

	
Assignment of Patent Application #11,906,793 from Lonnie J. Helgeson and Michael W. Larson.

 

	
Assignment of Patent #5,453,087 from Craig N. Hansen. 

 

	
Assignment of Patent #5,569,170 from Craig N. Hansen. 

 

	
Assignment of Patent #6,254,556 from Craig N. Hansen and George E. McNamara.

 

	
Assignment of Patent #6,547,749 from Craig N. Hansen. 

 

	
Assignment of Patent #6,676,614 from Craig N. Hansen and Lonnie J. Helgeson.

 

	
Assignment of Patent #7,278,978 from Craig N. Hansen and Lonnie J. Helgeson. 

 

	
Assignment of Patent #7,374,550 from Craig N. Hansen and Lonnie J. Helgeson. 

 

	
Assignment of Patent #7,537,575 from Craig N. Hansen and Lonnie J. Helgeson. 

 

	
Assignment of Patent #D456,591 from Craig N. Hansen. 

 

	
Assignment of Patent #D461,897 from Craig N. Hansen and Lonnie J. Helgeson.

 

	
Assignment of Patent #D469,876 from Craig N. Hansen and Lonnie J. Helgeson. 

 

	
Assignment of Patent #D478,989 from Craig N. Hansen and Lonnie J. Helgeson. 

 

	
Assignment of Patent #D547,718 from Lonnie J. Helgeson and Michael W. Larson. 

 

	
Assignment of Patent #D585,991 from Lonnie J. Helgeson and Michael W. Larson.ex4-7_f20f12312009.htm

 

Exhibit 4.7

Summary of the Construction and Engineering Design Contract with Shanghai Ming Fang Architectural Research and Design Institute Co. Ltd.

On August 24, 2009, Shanghai Jinpan Electric Co Ltd. (the “Company”) entered into an agreement (the “Agreement”) with Shanghai Ming Fang Architectural Research and Design Institute Co. Ltd  ( the “Architectural Design Firm”)for the design of three factory buildings – designated as factory buildings A (1565 Square Meters), B (2102 Square Meters), and C (39600 Square Meters) - and employee dormitory buildings (5130 Square Meters) (collectively “Buildings”) in the Company’s Shanghai facility.

The Architectural Design Firm agreed to provide the schematic design for the Buildings and the placement of production equipment, the design development for the Buildings (except factory building C), and the construction documents for the Buildings (except for factory building C).

The total price of the Agreement was RMB 191,355, payable in several installments depending on the progress of the design and construction of the Buildings. The following table summarizes the payment terms:

 

 

	  	
Completion of Schematic Design

	
Completion of Design Development

	
Completion of Construction Documents

	
Completion of Construction

	
 

Total

	
Factory Building A

	
 

RMB4,695

	
 

RMB7,042

	
 

RMB9,391

	
 

RMB2,347

	
 

RMB23,475

	
Factory Building B

	
 

RMB6,306

	
 

RMB9,459

	
 

RMB12,612

	
 

RMB3,153

	
 

RMB31,530

	
Factory Building C

	
 

RMB 59,400

	
 

-

	
 

-

	
 

-

	
 

RMB59,400

	
Dormitory Buildings

	
 

RMB15,390

	
 

RMB23,085

	
 

RMB30,780

	
 

RMB7,695

	
 

RMB76,950ex4-8_f20f12312009.htm

 

 

 

Exhibit 4.8

Summary of Construction Contract with Shanghai Kai Tian Construction

One September 29 2009, Shanghai Jinpan Electric Co. Ltd. (the “Company”) entered into an agreement (the “Agreement”) with Shanghai Kai Tian Construction (Group) Co. Ltd. (the “General Contractor”) for the construction of two factory buildings and three employee dormitory buildings in the Company’s Shanghai facility.

According to the Agreement, the General Contractor agrees to commence Work on the two factory buildings and one dormitory building on September 29, 2009.   Work on the two factory buildings is scheduled to be completed by December 25, 2009.  Work on one of the dormitory building is scheduled to be completed by January 25, 2010.  Work on the remaining two dormitory buildings is scheduled to be completed within 115 calendar days of the commencement date of the construction (to be determined by the Company).

The total price of Agreement is RMB 10.5 million inclusive of labor and materials (except that for the construction of the steel frame of the two factory buildings).  The parties agreed on the payment term and schedule for the portion of total price attributed to the construction of the two factory buildings and one dormitory building or RMB 4.77 million.  Payment terms and schedules for the two dormitory buildings would be negotiated when the Company set a commencement date for the construction of the two dormitories.

Within 10 calendar days of signing the Agreement, the Company will make an initial payment of 30% of the RMB 4.77 million contract price for the construction of two factory buildings and one dormitory building.  Thereafter, the Company will make monthly progress payments to the General Contractor equal to 45% of the price of work completed within the first 25 calendar days of the month.  The initial payment will be credited against monthly progress payments due.  Upon completion of construction, the Company will pay to the General Contractor the balance of 85% of the RMB 4.77 million price.   Upon receipt of the Construction Final Inspection Certificate, the Company will pay to the General Contractor the balance of 95% of the RMB 4.77 million price. The remaining five percent (5%) of the RMB 4.77 million price is held as warranty security and payable to the General Contractor two years after the inspection and acceptance of the building.ex4-9_f20f12312009.htm

 

Exhibit 4.9

Summary of Construction Contract with Shanghai Gong Ze Steel Structure Co, Ltd.

On September 29, 2009, Shanghai Jinpan Electric Co. Ltd. (the “Company”) entered into an agreement (“Agreement”) with Shanghai Gong Ze Steel Structure Co. Ltd. (the “Contractor”) for the construction of the steel frames for two factory buildings in the Company’s Shanghai facility.

According to the Agreement, the Contractor agreed to commence construction on both factory buildings on September 29, 2010 and to complete work prior to December 25, 2009.

The total price of the Agreement is RMB 5.0 Million, inclusive of labor and materials, payable in several installments depending on the progress of the construction. Forty percent (40%), or RMB 2 million, is due upon the signing of the Agreement.  Thirty percent (30%), or RMB 1.5 million, is due upon the completion of the frame structure and the installation of ceiling and side panel and the delivery of wall materials to the worksite.  Fifteen percent (15%) is due upon the completion of the two single piece steel structures.  Ten percent (10%) is due upon the delivery of the building documentation and successful completion of inspection and acceptance. The remaining five percent (5%) is held by the Company as security and payable one (1) year after the completion of the two factory buildings.ex4-10_f20f12312009.htm

 

Exhibit 4.10

Summary of Construction Supervision Contract with Shanghai Feng Xian Construction Management Co. Ltd.

On October 4, 2009, Shanghai Jinpan Electric Co. Ltd. (the “Company”) entered into an agreement (“Agreement”) with Shanghai Feng Xian Construction Management Co. Ltd. (the “Construction Supervisor”) for construction supervision and management services for the construction of 8,500 square meters of industrial buildings under construction at the Company’s Shanghai facility.

The term of the Agreement is six (6) months beginning on October 4, 2009 and ending on April 3, 2010.  The Construction Supervisor provides project management services and oversees quality and work place safety.

The total price for the construction supervision and management services is RMB 105,000 payable in several installments depending on the progress of the construction. The Company agreed to pay the Construction Supervisor fifty percent (50%) of the contract price , or RMB 52,500, within 10 calendars of signing the Agreement, thirty percent (30%) of the contract price, or RMB 31,500, after completion of the main structures,  and the remaining twenty percent (20%), or RMB 21,000, after inspection and acceptance of the buildings.

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