Document:

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                                                                   EXHIBIT 10.11

                                NEUROMETRIX, INC.

                       STOCK OPTION AGREEMENT (1998 PLAN)

         NeuroMetrix, Inc., a Delaware corporation (the "Company") hereby
grants to Gary L. Gregory, presently of 4951 Mission Hill Place, Tucson, AZ
85718 (the "Grantee"), an option (the "Option") to purchase 440,000 shares of
the Company's Common Stock, pursuant to the Company's 1998 Equity Incentive Plan
(the "Plan"), a copy of which is attached hereto and is incorporated herein in
its entirety by this reference. The Grantee hereby accepts the Option granted
subject to the terms and provisions set forth in the Plan and the following
additional terms and provisions:

1.   The Option is an incentive option.

2.   The price at which shares of Common Stock may be purchased pursuant to the
     Option is $0.5625 per share, both the price and the number of shares being
     subject to adjustment only as provided in the Plan.

3.   (a) So long as the Grantee remains an employee of the Company, or an
     employee of a subsidiary corporation of the Company, this Option may be
     exercised only to the extent of the number of shares as to which this
     Option is exercisable at such time (the "Vested Amount") according to the
     following schedule: (i) commencing on July 1, 2003, the Vested Amount shall
     be 12/42 of the number of shares covered hereby; (ii) on July 31, 2003 and
     at the end of each full month of employment thereafter the Vested Amount
     shall increase by 1/42 of the number of shares covered hereby; provided,
     however, that the Vested Amount shall not exceed 440,000 shares and the
     number of shares as to which this Option has been previously exercised
     shall be subtracted from the Vested Amount. This Option may not be
     exercised at all during the first year after the date hereof or after the
     tenth anniversary of the date hereof (the "Expiration Date").

     (b) If the Grantee retires from the employ of the Company during the period
     that this Option may be exercised, this Option shall be exercisable by the
     Grantee on or prior to the Expiration Date, but only as to the Vested
     Amount immediately prior to retirement.

     (c) If the Grantee ceases to be eligible to participate in the Plan by
     reason of his or her death during the period that this Option may be
     exercised, this Option shall be exercisable either by the Grantee's
     executor or administrator or, if not so exercised, for the legatees or
     distributees of the Grantee's estate, on or prior to the Expiration Date,
     but only as to the Vested Amount immediately prior to death.

     (d) If the Grantee ceases to be eligible to participate in the Plan by
     reason of the Grantee's permanent and total disability (as determined
     conclusively by the Company) during the period that this Option may be
     exercised, this Option shall be exercisable by the Grantee on or prior to
     the Expiration Date, but only as to the Vested Amount immediately prior to
     such cessation.

     (e) If the Grantee ceases to be eligible to participate in the Plan for any
     reason other than retirement, death or permanent and total disability
     during the period that this Option may be

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     exercised, this Option shall be exercisable by the Grantee on or prior to
     the Expiration Date, but only as to the Vested Amount immediately prior to
     such cessation.

     (f) Notwithstanding the foregoing provisions of this section 4, in the
     event that Grantee is entitled to severance as provided under the heading
     "Severance" in the letter dated June 19, 2001 from the Company to the
     Grantee (the "Offer Letter") and Grantee executes the Release (as defined
     in the Offer Letter), (i) if the first day of the Severance Period (as
     defined in the Offer Letter) is on or prior to January 1, 2003, then, as of
     the first day of the Severance Period, the Vested Amount shall be 9/42 of
     the number of shares covered hereby and (ii) if the first day of the
     Severance Period occurs after January 1, 2003, then, as of the first day of
     the Severance Period, the Vested Amount shall be 9/42 of the number of
     shares covered hereby plus an additional 1/42 of the number of shares
     covered hereby for each full month of Grantee's employment; provided,
     however, that the Vested Amount shall not exceed 440,000 shares and the
     number of shares as to which this Option has been previously exercised
     shall be subtracted from the Vested Amount. The Vested Amount shall not
     increase following the commencement of the Severance Period.

     (g) Notwithstanding anything to the contrary in this Agreement, in the
     event that a Change of Control (as defined in the Offer Letter) results in
     (i) termination of Grantee's employment under circumstances that entitle
     Grantee to severance as provided in the Offer Letter or (ii) Grantee's
     resignation as a result of Grantee's required relocation to a worksite more
     than 50 miles from the Company's then current worksite before the Change in
     Control, then upon such termination or resignation any unvested and
     outstanding portion of the Option (if not already vested because of the
     Change in Control) shall become exercisable.

     WARNING: SUBJECT TO THE PROVISIONS OF SECTION 3(g) OF THIS AGREEMENT, THE
     OPTION EXERCISE PERIOD MAY BE CUT SHORT IN THE EVENT OF A CHANGE IN CONTROL
     OF THE COMPANY. SEE SECTION 11.4 OF THE PLAN.

4.   The Option shall not be exercisable unless either (a) a registration
     statement under the Securities Act of 1933, as amended, with respect to the
     Option and the shares to be issued on the exercise thereof shall have
     become, and continue to be, effective, or (b) the Grantee (i) shall have
     represented, warranted and agreed, in form and substance satisfactory to
     the Company, at the time of exercising the Option, that he or she is
     acquiring the shares for his or her own account, for investment and not
     with a view to or in connection with any distribution, (ii) shall have
     agreed to restrictions on transfer in form and substance satisfactory to
     the Company and (iii) shall have agreed to an endorsement which makes
     appropriate reference to such representations, warranties, agreements and
     restrictions on the certificate(s) representing the shares.

     SHARES ISSUED UPON EXERCISE OF THE OPTION WILL BE SUBJECT TO ALL
     RESTRICTIONS ON TRANSFER IMPOSED BY THE COMPANY'S CERTIFICATE OF
     INCORPORATION, AS AMENDED, OR BY-LAWS, AS AMENDED, BY STOCKHOLDERS
     AGREEMENT, OR BY APPLICABLE STATE OR FEDERAL SECURITIES LAWS.

5.   The Option may be exercised, subject to such conditions as the Company's
     Board of Directors may require in accordance with the Plan, by the giving
     of written notice, by certified or registered mail, to the Company's
     Treasurer at its principal place of business in Waltham, Massachusetts,
     of the election to purchase shares pursuant hereto, which notice

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     shall specify the number of shares to be so purchased, accompanied by full
     payment for the shares purchased, together with any tax or excise due in
     respect of issue of such shares, in cash or by certified or bank cashier's
     check.

6.   Notwithstanding anything to the contrary contained herein, no shares shall
     be issued to the Grantee pursuant to the Option until the Company and the
     Grantee have made appropriate arrangements for the withholding of
     applicable income taxes, if any, attributable to the exercise of the Option
     with respect to such shares, and the Company may require the Grantee to
     make a cash payment to the Company in the amount of such taxes required to
     be withheld.

7.   In the event the Company proposes an initial public offering of any of its
     equity securities pursuant to a registration statement under the Securities
     Act (whether for its own account or the account of others), and if
     requested in writing by the Company and an underwriter of the proposed
     offering of common stock or other securities of the Company to sign any
     "Lock-Up Agreement (the "Lock-Up Agreement"), the Grantee shall agree to
     sign the Lock-Up Agreement whereby he or she shall not sell, grant any
     option or right to buy or sell, or otherwise transfer or dispose of in any
     manner, to the public in open market transactions, any Shares or other
     equity securities of the Company acquired upon exercise of this Option and
     held by such Grantee during whatever time period is requested by the
     Company and the underwriter for restrictions on trading or transfer (the
     "Lock-Up Period") following the effective date of the registration
     statement of the Company filed under the Securities Act. The Company may
     impose stop-transfer instruction with respect to the securities subject to
     the foregoing restrictions until the end of the Lock-Up Period. Such
     Lock-Up Period shall not exceed 180 days in length.

THE OPTION IS NOT TRANSFERABLE BY THE GRANTEE OTHERWISE THAN BY WILL OR THE LAWS
OF DESCENT AND DISTRIBUTION AND, DURING THE LIFETIME OF THE GRANTEE, MAY BE
EXERCISED ONLY BY THE GRANTEE.

         IN WITNESS WHEREOF, the parties hereto have executed this Agreement
effective as of July 1, 2002.

                                   NEUROMETRIX, INC.

                                   By:  /s/ Shai N. Gozani
                                      --------------------
                                        Authorized Signature

                                   ACCEPTED:

                                   /s/ Gary L. Gregory
                                   -------------------
                                   Gary L. Gregory, Grantee

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                                NEUROMETRIX, INC.

                           1998 EQUITY INCENTIVE PLAN

                              OPTION EXERCISE FORM

TO:      Treasurer, NEUROMETRIX, INC.

FROM:    ___________________________

I elect to exercise my option to purchase shares of NEUROMETRIX, INC., common
stock as follows:

         Date of Option Grant: July 1, 2002

         Exercise Price: $0.5625 per share

         Number of Shares to be Purchased: _____________________

         Total Exercise Price Enclosed: $_______________________

Full payment, in cash, certified check or bank cashier's check, for the shares I
am electing to purchase is enclosed with this notice. I understand that issuance
of the purchased shares may be conditioned on my payment of any tax or excise
due thereon and on fulfillment of requirements specified in Section 6 of the
Stock Option Agreement between NEUROMETRIX, INC., and me.

                                        ---------------------------------------
                                        Optionholder's Signature

                                        Date:
                                              ---------------------------------

Received by:

----------------------------------

Date:
      ----------------------------

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                                NEUROMETRIX, INC.

                       STOCK OPTION AGREEMENT (1998 PLAN)

         NeuroMetrix, Inc., a Delaware corporation (the "Company") hereby
grants to Gary L. Gregory, presently of 4951 Mission Hill Place, Tucson, AZ
85718 (the "Grantee"), an option (the "Option") to purchase 80,000 shares of the
Company's Common Stock, pursuant to the Company's 1998 Equity Incentive Plan
(the "Plan"), a copy of which is attached hereto and is incorporated herein in
its entirety by this reference. The Grantee hereby accepts the Option granted
subject to the terms and provisions set forth in the Plan and the following
additional terms and provisions:

1.   The Option is an incentive option.

2.   The price at which shares of Common Stock may be purchased pursuant to the
     Option is $0.5625 per share, both the price and the number of shares being
     subject to adjustment only as provided in the Plan.

3.   (a) So long as the Grantee remains an employee of the Company, or an
     employee of a subsidiary corporation of the Company, this Option may be
     exercised only to the extent of the number of shares as to which this
     Option is exercisable at such time (the "Vested Amount") according to the
     following schedule: (i) commencing on June 5, 2004, the Vested Amount shall
     be 12/42 of the number of shares covered hereby; (ii) on July 5, 2004 and
     at the end of each full month of employment thereafter the Vested Amount
     shall increase by 1/42 of the number of shares covered hereby; provided,
     however, that the Vested Amount shall not exceed 80,000 shares and the
     number of shares as to which this Option has been previously exercised
     shall be subtracted from the Vested Amount. This Option may not be
     exercised at all during the first year after the date hereof or after the
     tenth anniversary of the date hereof (the "Expiration Date").

     (b) If the Grantee retires from the employ of the Company during the period
     that this Option may be exercised, this Option shall be exercisable by the
     Grantee on or prior to the Expiration Date, but only as to the Vested
     Amount immediately prior to retirement.

     (c) If the Grantee ceases to be eligible to participate in the Plan by
     reason of his or her death during the period that this Option may be
     exercised, this Option shall be exercisable either by the Grantee's
     executor or administrator or, if not so exercised, for the legatees or
     distributees of the Grantee's estate, on or prior to the Expiration Date,
     but only as to the Vested Amount immediately prior to death.

     (d) If the Grantee ceases to be eligible to participate in the Plan by
     reason of the Grantee's permanent and total disability (as determined
     conclusively by the Company) during the period that this Option may be
     exercised, this Option shall be exercisable by the Grantee on or prior to
     the Expiration Date, but only as to the Vested Amount immediately prior to
     such cessation.

     (e) If the Grantee ceases to be eligible to participate in the Plan for any
     reason other than retirement, death or permanent and total disability
     during the period that this Option may be exercised, this Option shall be
     exercisable by the Grantee on or prior to the Expiration Date, but only as
     to the Vested Amount immediately prior to such cessation.

<Page>

     (f) Notwithstanding the foregoing provisions of this section 4, in the
     event that Grantee is entitled to severance as provided under the heading
     "Severance" in the letter dated June 19, 2001 from the Company to the
     Grantee (the "Offer Letter") and Grantee executes the Release (as defined
     in the Offer Letter), (i) if the first day of the Severance Period (as
     defined in the Offer Letter) is on or prior to January 1, 2003, then, as of
     the first day of the Severance Period, the Vested Amount shall be 9/42 of
     the number of shares covered hereby and (ii) if the first day of the
     Severance Period occurs after January 1, 2003, then, as of the first day of
     the Severance Period, the Vested Amount shall be 9/42 of the number of
     shares covered hereby plus an additional 1/42 of the number of shares
     covered hereby for each full month of Grantee's employment; provided,
     however, that the Vested Amount shall not exceed 80,000 shares and the
     number of shares as to which this Option has been previously exercised
     shall be subtracted from the Vested Amount. The Vested Amount shall not
     increase following the commencement of the Severance Period.

     (g) Notwithstanding anything to the contrary in this Agreement, in the
     event that a Change of Control (as defined in the Offer Letter) results in
     (i) termination of Grantee's employment under circumstances that entitle
     Grantee to severance as provided in the Offer Letter or (ii) Grantee's
     resignation as a result of Grantee's required relocation to a worksite more
     than 50 miles from the Company's then current worksite before the Change in
     Control, then upon such termination or resignation any unvested and
     outstanding portion of the Option (if not already vested because of the
     Change in Control) shall become exercisable.

     WARNING: SUBJECT TO THE PROVISIONS OF SECTION 3(g) OF THIS AGREEMENT, THE
     OPTION EXERCISE PERIOD MAY BE CUT SHORT IN THE EVENT OF A CHANGE IN CONTROL
     OF THE COMPANY. SEE SECTION 11.4 OF THE PLAN.

4.   The Option shall not be exercisable unless either (a) a registration
     statement under the Securities Act of 1933, as amended, with respect to the
     Option and the shares to be issued on the exercise thereof shall have
     become, and continue to be, effective, or (b) the Grantee (i) shall have
     represented, warranted and agreed, in form and substance satisfactory to
     the Company, at the time of exercising the Option, that he or she is
     acquiring the shares for his or her own account, for investment and not
     with a view to or in connection with any distribution, (ii) shall have
     agreed to restrictions on transfer in form and substance satisfactory to
     the Company and (iii) shall have agreed to an endorsement which makes
     appropriate reference to such representations, warranties, agreements and
     restrictions on the certificate(s) representing the shares.

     SHARES ISSUED UPON EXERCISE OF THE OPTION WILL BE SUBJECT TO ALL
     RESTRICTIONS ON TRANSFER IMPOSED BY THE COMPANY'S CERTIFICATE OF
     INCORPORATION, AS AMENDED, OR BY-LAWS, AS AMENDED, BY STOCKHOLDERS
     AGREEMENT, OR BY APPLICABLE STATE OR FEDERAL SECURITIES LAWS.

5.   The Option may be exercised, subject to such conditions as the Company's
     Board of Directors may require in accordance with the Plan, by the giving
     of written notice, by certified or registered mail, to the Company's
     Treasurer at its principal place of business in Waltham, Massachusetts,
     of the election to purchase shares pursuant hereto, which notice shall
     specify the number of shares to be so purchased, accompanied by full
     payment for the

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     shares purchased, together with any tax or excise due in respect of issue
     of such shares, in cash or by certified or bank cashier's check.

6.   Notwithstanding anything to the contrary contained herein, no shares shall
     be issued to the Grantee pursuant to the Option until the Company and the
     Grantee have made appropriate arrangements for the withholding of
     applicable income taxes, if any, attributable to the exercise of the Option
     with respect to such shares, and the Company may require the Grantee to
     make a cash payment to the Company in the amount of such taxes required to
     be withheld.

7.   In the event the Company proposes an initial public offering of any of its
     equity securities pursuant to a registration statement under the Securities
     Act (whether for its own account or the account of others), and if
     requested in writing by the Company and an underwriter of the proposed
     offering of common stock or other securities of the Company to sign any
     "Lock-Up Agreement (the "Lock-Up Agreement"), the Grantee shall agree to
     sign the Lock-Up Agreement whereby he or she shall not sell, grant any
     option or right to buy or sell, or otherwise transfer or dispose of in any
     manner, to the public in open market transactions, any Shares or other
     equity securities of the Company acquired upon exercise of this Option and
     held by such Grantee during whatever time period is requested by the
     Company and the underwriter for restrictions on trading or transfer (the
     "Lock-Up Period") following the effective date of the registration
     statement of the Company filed under the Securities Act. The Company may
     impose stop-transfer instruction with respect to the securities subject to
     the foregoing restrictions until the end of the Lock-Up Period. Such
     Lock-Up Period shall not exceed 180 days in length.

THE OPTION IS NOT TRANSFERABLE BY THE GRANTEE OTHERWISE THAN BY WILL OR THE LAWS
OF DESCENT AND DISTRIBUTION AND, DURING THE LIFETIME OF THE GRANTEE, MAY BE
EXERCISED ONLY BY THE GRANTEE.

         IN WITNESS WHEREOF, the parties hereto have executed this Agreement
effective as of April 8, 2004.

                                          NEUROMETRIX, INC.
                                          By: /s/ Shai N. Gozani
                                             --------------------
                                              Authorized Signature

                                          ACCEPTED:
                                          /s/ Gary L. Gregory
                                          -------------------
                                          Gary L. Gregory, Grantee

<Page>

                                NEUROMETRIX, INC.

                           1998 EQUITY INCENTIVE PLAN

                              OPTION EXERCISE FORM

TO:      Treasurer, NEUROMETRIX, INC.

FROM:    ___________________________

I elect to exercise my option to purchase shares of NEUROMETRIX, INC., common
stock as follows:

         Date of Option Grant: April 8, 2004

         Exercise Price: $0.5625 per share

         Number of Shares to be Purchased: _____________________

         Total Exercise Price Enclosed: $_______________________

Full payment, in cash, certified check or bank cashier's check, for the shares I
am electing to purchase is enclosed with this notice. I understand that issuance
of the purchased shares may be conditioned on my payment of any tax or excise
due thereon and on fulfillment of requirements specified in Section 6 of the
Stock Option Agreement between NEUROMETRIX, INC., and me.

                                          ------------------------------------
                                          Optionholder's Signature

                                          Date:
                                                ------------------------------
Received by:

-----------------------------------

Date:
      -----------------------------<Page>

                                                                   EXHIBIT 10.12

                                NEUROMETRIX, INC.

                     CONFIDENTIALITY & NON-COMPETE AGREEMENT

In consideration of and as a condition to my employment on an at-will basis by
NeuroMetrix, Inc. (the "Company"), the granting of shares of common, no par
value stock of the Company, and the compensation now and hereafter paid to me by
the Company and other good and valuable consideration, the sufficiency of which
I hereby acknowledge, I hereby execute this Confidentiality & Non-Compete
Agreement (the "Agreement") and agree to the following:

1.   CONFIDENTIAL INFORMATION.

     a)     COMPANY INFORMATION. I agree at all times during the term of my
            employment and thereafter to hold in strictest confidence, and not
            to use, except for the benefit of the Company, or to disclose to any
            person, firm or corporation without the prior written authorization
            of a duly authorized officer of the Company, any Confidential
            Information of the Company. I understand that "Confidential
            Information" means any Company proprietary information, technical
            data, trade secrets or know-how, including, but not limited to,
            research and development information, product plans, products,
            services, customer lists and customers, Work Product (as defined
            below), suppliers, software developments, inventions, processes,
            formulas, technology, designs, drawings, engineering information,
            hardware configuration information, marketing information, costs,
            pricing, finances or other business information disclosed to me by
            the Company either directly or indirectly in writing, orally or by
            drawings or inspection of parts or equipment either before or after
            the commencement of my employment. I further agree that all
            Confidential Information shall at all times remain the property of
            the Company. I understand that Confidential Information does not
            include any of the foregoing items which has become publicly known
            or made generally available through no wrongful act of mine.

     b)     THIRD-PARTY INFORMATION. I recognize that the Company has received
            and in the future will receive from third parties their confidential
            or proprietary information subject to a duty on the Company's part
            to maintain the confidentiality of such information and to use it
            only for certain limited purposes. I agree to hold all such
            confidential or proprietary information in the strictest confidence
            and not to disclose it to any person, firm or corporation or to use
            it except as necessary in carrying out my work for the Company
            consistent with the Company's agreement with such third party.

2.   WORK PRODUCT.

     a)     ASSIGNMENT OF WORK PRODUCT. I agree that I will promptly make full
            written disclosure to the Company and will hold in trust for the
            sole right and benefit of the Company, and I hereby assign to the
            Company, or its designee, all my right, title and interest in and to
            any and all inventions, original works of authorship, developments,
            concepts, improvements or trade secrets, of whatever nature and
            whether or not patentable or registrable under copyright or similar
            laws, which I may solely or jointly with others conceive or develop
            or reduce to practice, or cause to be conceived or developed or

                                      - 1 -
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            reduced to practice, during the period of time I am in the employ of
            the Company which relates to the business of the Company or to the
            Company's anticipated business as of the end of my employment
            (collectively referred to as "Work Product"); and I further agree
            that the foregoing shall also apply to Work Product which is
            conceived, developed, or reduced to practice during a period of one
            (1) year after the end of my employment. Without limiting the
            foregoing, I further acknowledge that all original works of
            authorship which are made my me (solely or jointly with others)
            within the scope of my employment and which are protectable by
            copyright are "works made for hire", as that term is defined in the
            United States Copyright Act.

     b)     MAINTENANCE OF RECORDS. I agree to keep and maintain adequate and
            current written records of all Work Product made by me (solely or
            jointly with others) during the term of my employment by the
            Company. The records will be in form of notes, sketches, drawings,
            and any other format that may be specified by the Company. The
            records will be available to and remain the sole property of the
            Company at all times.

     c)     PATENT AND COPYRIGHT REGISTRATIONS. I agree to assist the Company,
            or its designee, at the Company's expense, in every proper way to
            secure the Company's rights in the Work Product and any copyrights,
            patents, mask work rights or other intellectual property rights
            relating thereto in any and all countries, including the disclosure
            to the Company of all pertinent information and data with respect
            thereto and the execution of all applications, specifications,
            oaths, assignments and all other instruments which the Company shall
            deem necessary in order to apply for and obtain such rights and in
            order to assign and convey to the Company, its successors, assigns
            and nominees to sole and exclusive rights, title and interest in and
            to such Work Product, and any copyright, patents, mask work rights
            or other intellectual property rights relating thereto. This
            provision shall survive the termination of my employment by the
            Company, whether with or without cause.

3.   RETURNING COMPANY PROPERTY. I agree that, at any time upon request of the
     Company, and in any event at the time of the termination of my employment
     by the Company, I will deliver to the Company (and will not keep in my
     possession or deliver to anyone else) any and all devices, records, data,
     notes, reports, proposals, lists, correspondence, specifications, drawings,
     blueprints, sketches, materials, equipment, other documents or property, or
     reproductions of any of the aforementioned items, containing Confidential
     Information or otherwise belonging to the Company, its successors or
     assigns, whether prepared by me or supplied to me by the Company.

4.   CONFLICTS.

     a)     CONFLICTING EMPLOYMENT. I agree that, during the term of my
            employment by the Company, I will not engage in any other
            employment, occupation, consulting or other business activity
            related to the business in which the Company is now involved or
            becomes involved during the term of my employment, nor will I engage
            in any other activities that conflict with my obligations to the
            Company.

            NO RESTRICTIONS. I am subject to no contractual or other restriction
            or obligation which will in any way limit my activities on behalf of
            the Company. I hereby represent and

                                      - 2 -
<Page>

            warrant to the Company that I do not claim rights in, or otherwise
            exclude from this Agreement, any Work Product (as defined above).

5.   COVENANT AGAINST COMPETITION.

     a)     For the purposes of this Section:

            i)    "Competing Product" means any product, process, or service of
                  any person or organization other than the Company, in
                  existence or under development, (A) which is identical to,
                  substantially the same as, or an adequate substitute for any
                  product, process, or service of the Company, in existence or
                  under development, on which I work during the time of my
                  employment by the Company or about which I acquire
                  Confidential Information, and (B) which is (or could
                  reasonably be anticipated to be) marketed or distributed in
                  such a manner and in such a geographic area as to actually
                  compete with such product, process or services of the Company.

            ii)   "Competing Organization" means any person or organization,
                  including myself, engaged in, or about to become engaged in,
                  research on or the acquisition, development, production,
                  distribution, marketing, or providing of a Competing Product.

     b)     As a material inducement to the Company to employ me, and in order
            to protect the Company's Confidential Information and good will, I
            agree to the following stipulations:

            i)    For a period of twelve (12) months after termination of my
                  employment by the Company, whether with or without cause, I
                  will not directly or indirectly solicit or divert or accept
                  business relating in any manner to Competing Products or to
                  products, processes or services of the Company from any of the
                  customers or accounts of the Company with which I had any
                  contact as a result of my employment.

            ii)   For a period of twelve (12) months after termination of my
                  employment by the Company or its affiliates for any reason,
                  whether with or without cause, I will not render services,
                  directly or indirectly, as an employee, consultant or
                  otherwise, to any Competing Organization in connection with
                  research on or the acquisition, development, production,
                  distribution, marketing, or production of any Competing
                  Product.

            iii)  For a period of twelve (12) months after termination of my
                  employment by the Company, whether with or without cause, I
                  will not directly or indirectly solicit or take away, or
                  attempt to solicit or take away, employees of the Company,
                  either for my own business or for any other person or entity.

6.   ENFORCEABILITY AND SEVERABILITY. In the event that any provision of this
     Agreement shall be determined to be unenforceable by any court of competent
     jurisdiction by reason of its extending for too great a period of time or
     over too large a geographic area or over too great a

                                      - 3 -
<Page>

     range of activities, it shall be interpreted to extend only over the
     maximum period of time, geographic area or range of activities as to which
     it may be enforceable.

     If any provision of this Agreement shall be determined to be invalid,
     illegal or otherwise unenforceable by any court of competent jurisdiction,
     the validity, legality and enforceability of the other provisions of this
     Agreement shall not be affected thereby. Any invalid, illegal or
     unenforceable provision of this Agreement shall be severable, and after any
     such severance, all other provisions hereof shall remain in full force and
     effect.

7.   BREACH.

     a)     EQUITABLE REMEDIES. I hereby expressly acknowledge that any breach
            or threatened breach of any of the terms and/or conditions set forth
            in this Agreement will result in substantial, continuing and
            irreparable injury to the Company. Therefore, I hereby agree that,
            in addition to any other remedy that may be available to the
            Company, the Company shall be entitled to injunctive or other
            equitable relief by a court of appropriate jurisdiction in the event
            of breach or threatened breach of the terms of this Agreement.

     b)     TOLLING. If any provisions of this Agreement are violated, then the
            time limitations set forth in this Agreement shall be extended for a
            period of time equal to the period of time during which such breach
            occurs, and, in the event the Company is required to seek relief
            from such breach before any court, board or other tribunal, then the
            time limitation shall be extended for a period of time equal to the
            pendency of such proceedings, including all appeals.

8.   GENERAL PROVISIONS.

     a)     ARBITRATION OF DISPUTES. Any dispute arising out of this Agreement,
            my employment with the Company or termination therefrom, or any
            other relations with the Company, whether sounding in tort or
            contract, by statute or otherwise, shall be settled by arbitration
            in Boston, Massachusetts, in accordance with the Commercial
            Arbitration Rules of the American Arbitration Association before a
            single Arbitrator who shall have experience in the area of the
            matter in dispute. The Arbitrator may grant relief in the nature of
            injunctions (other than reinstatement) or other relief in such
            dispute or controversy. The decision of the arbitrator shall be
            final, conclusive and binding on the parties. Judgment may be
            entered on the Arbitrator's decision in any court having
            jurisdiction. The Company and I shall each pay one-half of the cost
            and expenses of such arbitration, and each party shall separately
            pay its or his/her own counsel fees and other costs in connection
            with the arbitration.

     b)     ENTIRE AGREEMENT. This Agreement supersedes all previous agreements,
            written or oral, between the Company and me relating to the subject
            matter of this Agreement, sets forth the entire agreement and
            understanding between the Company and me relating to the subject
            matter herein and merges all prior discussions between us with
            respect hereto. No modification of or amendment to this Agreement,
            nor any waiver of any rights under this Agreement, will be effective
            unless in writing signed by the party to be charged. Any subsequent
            change or changes in my duties, job title or compensation will not
            affect the validity or scope of this Agreement.

                                      - 4 -
<Page>

     c)     SUCCESSORS AND ASSIGNS. This Agreement shall inure to the benefit of
            the Company and its legal representatives, successors and assigns,
            and shall be binding upon me and my heirs, legal representatives,
            successors and assigns.

     d)     GOVERNING LAW. This Agreement will be governed by the laws of the
            Commonwealth of Massachusetts, without regard to conflicts of law
            principles.

     e)     HEADINGS. The headings in this Agreement are for convenience of
            reference only, and they shall not limit or otherwise affect the
            interpretation of any term or provision hereof.

I ACKNOWLEDGE THAT BEFORE PLACING MY SIGNATURE HEREUNDER, I HAVE READ ALL OF THE
PROVISIONS OF THIS AGREEMENT AND HAVE RECEIVED A COPY HEREOF TODAY.

Executed as a document under seal effective as of June 28, 2002.

                         Signed:

                         /s/ Gary L. Gregory
                         -------------------

For NeuroMetrix, Inc.

By: /s/ Shai N. Gozani
   ------------------
    Authorized Signature

                                      - 5 -

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