Document:

ex10_1.htm

EXHIBIT 10.1

 

EMPLOYMENT AGREEMENT

 

This Employment Agreement (this “Agreement”) is entered into by and between Mannatech, Incorporated (the “Company“) and Roy Truett (“Employee”), and has an effective date of March 4, 2013 (“Effective Date”). The Company desires to employ Employee, and Employee desires to be employed by the Company. Therefore, in consideration of the mutual promises and agreements contained herein, the Company and Employee (collectively, the “Parties”) hereby agree as follows:

SECTION 1.

EMPLOYMENT

 

1.1.        Employment.  The Company hereby employs Employee, and Employee hereby accepts employment by the Company, for the period and upon the other terms and conditions contained in this Agreement.

1.2.        Office and Duties.  Employee shall serve as the Company’s President International and Chief Operating Officer, with the authority, duties and responsibilities described herein and those customarily incident to such office. Employee shall report directly to the Company’s Chief Executive Officer (the “CEO”) and shall perform such other services, duties and responsibilities commensurate with Employee’s position as may from time to time be assigned to Employee by the CEO or the Company’s Board of Directors (the “Board”).

1.3.        Performance.  During Employee’s employment under this Agreement, Employee shall devote on a full-time basis all of his time, energy, skill and best efforts to the performance of Employee’s duties hereunder in a manner that will faithfully and diligently further the business and interests of the Company. However, so long as such activities do not interfere with the performance of Employee’s duties hereunder, Employee may engage in (i) civic, charitable, and professional or trade activities, and (ii) activities incidental to his association with the Direct Selling Association. Employee shall comply with the employee policies and written manuals of the Company that are applicable generally to executive employees of the Company, as such policies and manuals exist and/or are modified from time to time. In the event of conflict or inconsistency between this Agreement and the employee policies and written manuals of the Company, the terms of this Agreement shall govern. Except as specifically contemplated herein, Employee shall not work either on a part-time or independent contractor basis for any other business or enterprise during the Employment Period.

1.4.        Place of Work.  Employee shall perform services under this Agreement at the Company’s principal office in the City of Coppell, Dallas County, Texas, and at such other place or places as Employee’s duties and responsibilities may require. Employee understands and agrees that Employee may be required to travel in connection with the performance of his duties.

1.5.        Directors’ and Officers’ Liability Insurance.To the extent that the Company maintains one or more policies of directors’ and officers’ liability insurance during Employee’s employment under this Agreement (the “D&O Policies”), then the Company will provide Employee coverage under the D&O Policies for acts or omissions by Employee in the performance of his duties to the Company under this Agreement as an officer of the Company.

 

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1.6.        Indemnity.  As of the Effective Date, the Company shall defend, indemnify and hold harmless Employee against all claims, actions, lawsuits, judgments, penalties, fines, settlements and reasonable expenses that are filed, pursued, or otherwise sought by third parties, as applicable, in any proceeding resulting from the performance of Employee’s duties to the Company under this Agreement.

1.7.        Exclusive Employment.  Without limiting Section 1.3 hereof, during the Employment Period, Employee will not, without the prior written consent of the Board:

a.               serve as a spokesman, representative, employee, consultant, agent, officer, or member of any board of directors (or any similar governing body) for any for-profit business other than the Company;

b.               serve as a spokesman, representative, employee, owner, consultant, agent, officer, or member of any board of directors (or any similar governing body) for any business which is a supplier to the Company or which competes with the Company, in each case whether directly or indirectly;

c.               own any equity or economic interest in any company that competes directly or indirectly with the Company, except that this does not preclude ownership of less than 5% of the outstanding equity securities of any public reporting company; or

d.               promote or endorse at Company business functions any other organization(s) with which Employee may be associated or affiliated.

 

SECTION 2.

EMPLOYMENT TERM

 

2.1.       Term.The term of Employee’s employment under this Agreement commences on the Effective Date and shall continue through one (1) year, unless terminated earlier by either Party by its or Employee giving at least thirty (30) days’ prior written notice of termination, for any or no reason, to the other Party (“Notice of Early Termination”) or unless terminated earlier in accordance with Section 8 hereof. If a Notice of Early Termination is given in accordance with the preceding sentence, then the (a) term of employment under this Agreement will continue until the expiration of the notice period specified in the Notice of Early Termination, and (b) Company may instruct Employee not to come into the Company’s offices or to attend any of the Company’s business functions through the last date of employment, and Employee’s following such instruction will not constitute Cause for termination or otherwise impair Employee’s rights hereunder. If the Agreement is not terminated by either Party as provided for herein, it will renew for successive one (1) year terms, unless either Party gives the other at least thirty (30) days’ prior written notice of its intent not to renew.

 

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SECTION 3.

COMPENSATION FOR EMPLOYMENT

 

3.1.       Base Salary.  The base salary of Employee for all of Employee’s services, duties and responsibilities to the Company and all of Employee’s agreements and covenants with or to the Company under this Agreement shall be at the annual rate of $340,000.00 which the Company shall pay to Employee in equal installments in accordance with its normal payroll policies.

a.               Employee’s performance and salary shall be reviewed by the Company’s CEO and the Compensation Committee annually in accordance with the Company’s annual performance review process.

 

b.               Employee’s Base Salary for any partial year will be prorated based upon the number of days elapsed in such year. Employee’s pay may be raised by the Company from time to time as the Company deems appropriate in its sole discretion, by way of an addendum or other documentation, without otherwise effecting this Agreement. Notwithstanding any pay increase, the employment of Employee shall be construed as continuing under this Agreement.

3.2.       Reimbursement for Moving Expenses.This Agreement is based on Employee living in the Dallas-Fort Worth area. Therefore, Company will reimburse Employee’s reasonable moving expenses in connection with Employee moving from Employee’s current primary residence (2306 Old Rosebud Lane, South Jordan, Utah 84095) to Employee’s new primary residence in the Dallas-Fort Worth area in an amount not to exceed $30,000.00 (“Moving Expenses”). Moving Expenses includes the cost of paying a third party for packing, moving, and insuring Employee’s personal possessions. The Company will also reimburse Employee for up to $30,000.00 in closing costs for the purchase of a home in the Dallas-Fort Worth area.

Employee must provide documentation (including receipts and invoices) supporting request for reimbursement of invoices. Employee agrees to cooperate with the Company so as to obtain favorable rates for the costs and services for which the Company will reimburse. The Company agrees that it will act reasonably in approving and reimbursing Employee for the Moving Expenses. The Company will have no responsibility or liability for Employee’s goods damaged or liability incurred as a result of such moving or relocation.

 

Employee agrees to repay the Company for Moving Expenses paid by the Company if—in less than one (1) year after the Effective Date—Employee (1) voluntarily terminates employment with the Company or (2) is terminated for Cause as defined in Section 9.1.b. Repayment shall be made within thirty (30) days of termination and may be withheld from any compensation or other amounts otherwise owed to Employee by the Company.

 

3.3.        Commuting Costs.   Company will pay for reasonable weekly travel expenses from Utah to the Dallas-Fort Worth area and temporary housing for six (6) months or until the move to the Dallas-Fort Worth area is complete as described in paragraph 3.2, according to the guidelines established by the Company.

3.4.        Stock Options.   Within thirty (30) days of the Effective Date, the Company will grant Employee, pursuant to the Company Stock Option Plan (“Plan”), an option to purchase 10,000 shares of the Company’s common stock. The exercise price, terms, and conditions of such option will be determined by the Plan.

 

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3.5.        Signing Bonus and Annual Bonus.   Within thirty (30) days of the Effective Date, Employee will receive a lump sum signing bonus of $50,000.00 less applicable withholdings. Moreover, during Employee’s Employment Period, Employee will also be eligible to participate in the Company’s annual executive bonus program (the “Executive Bonus Program”), to the extent that it exists. The opportunity to earn a bonus and the amount of any bonus compensation under the Executive Bonus Program will be determined in accordance with criteria established by the Board or the Compensation Committee, which will comply with the requirements of Section 409A of the Internal Revenue Code, unless the payment of the bonus is exempt as not constituting a deferral of income. Employee acknowledges that any bonus compensation under the Executive Bonus Program will be discretionary, with the sole discretion resting with the Board or the Compensation Committee. Further, unless otherwise determined by the Board or the Compensation Committee, Employee must remain employed by the Company at the time the bonus is paid in order to be eligible to receive the bonus. The Employee’s bonus for the calendar year 2013 will be $52,000.00 but shall be contingent upon the Company achieving the Board’s Executive Bonus goal. Employee will also be eligible to participate in the “Double Base Salary” bonus plan as outlined by the Compensation Committee. After calendar year 2013, any bonus will be based on the Executive Bonus Program. Determination as to whether the Employee has achieved the Board’s designated bonus goal shall rest solely with the Board, and such determination shall be final.

3.6.        Payment and Reimbursement of Work-Related Expenses.   During Employee’s Employment Period, the Company shall pay or reimburse Employee, in accordance with the applicable policies and procedures of the Company, for all reasonable travel and other reasonable expenses incurred by Employee in performing his obligations under this Agreement, provided that Employee properly accounts for such expenses in accordance with the regular policies of the Company.

3.7.        Health Insurance/401(k).   During Employee’s employment under this Agreement, Employee shall be entitled to participate in or receive benefits under any employee-benefit plan or arrangement made available by the Company to its similarly situated executive officers, (including any medical, dental, short-term and long-term disability, life insurance and 401(k) programs), subject to eligibility conditions or requirements and to the terms, conditions and overall administration of each of such plans and arrangements. Nothing in this Agreement will preclude the Company from amending or terminating any of the benefit plans or programs applicable to Employee as long as such amendment or termination is applicable to all similarly situated employees, without otherwise effecting this Agreement. Notwithstanding any change in benefits, the employment of Employee shall be construed as continuing under this Agreement.

3.8.        Executive Vehicle Program.   During Employee’s employment under this Agreement, Employee will be provided a car allowance of $1,000.00 per month, with all expenses and insurance to be paid by Employee. Otherwise, the Company’s normal expense reimbursement policy applies.

 

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3.9.        Vacation.   During Employee’s employment under this Agreement, Employee shall be entitled to twenty (20) days of paid vacation annually, in accordance with the regular policies of the Company.

3.10.      Tax Withholding.   The Company may deduct from any compensation or other amount payable to Employee under this Agreement social security (FICA) taxes and all federal, state, municipal, or other such taxes or governmental charges as may now be in effect or that may hereafter be enacted or required.

SECTION 4.

CONFIDENTIAL INFORMATION

 

4.1.        Definition.

 

a.               “Confidential Information” means material, data, ideas, inventions, formulae, patterns, compilations, programs, devices, methods, techniques, processes, know how, plans (marketing, business, strategic, technical or otherwise), arrangements, pricing and/or other information of or relating to the Company (as well as its customers and/or vendors) that is confidential, proprietary, and/or a trade secret (a) by its nature, (b) based on how it is treated or designated by the Company, (c) such that its appropriation, use or disclosure would have a material adverse effect on the business or planned business of the Company, or (d) as a matter of law. All Confidential Information is the property of the Company, the appropriation, use and/or disclosure of which is governed and restricted by this Agreement.

b.               Exclusions.  Confidential Information does not include material, data, and/or information that (i) the Company has voluntarily placed in the public domain; (ii) has been lawfully and independently developed and publicly disclosed by third parties; (iii) constitutes the knowledge and skills gained by Employee during the Employment Period; or (iv) otherwise enters the public domain through lawful means; provided, however, that the unauthorized appropriation, use, or disclosure of Confidential Information by Employee, directly or indirectly, shall not affect the protection and relief afforded by this Agreement regarding such information.

4.2.         Provision of Confidential Information.   Irrespective of the Employment Period, and in consideration of Employee’s promises in Section 4.3 of this Agreement, Employee acknowledges that the Company has provided Employee with access to Confidential Information, including (but not limited to) the new Confidential Information that the Company is separately and concurrently providing to Employee. The Parties stipulate and agree that Employee has never before seen or had access to the new Confidential Information referenced herein.

4.3.        Protection of Confidential Information.   Both during and after the Employment Period, Employee shall not in any manner, directly or indirectly: (i) appropriate, download, print, copy, remove, use, disclose, divulge, or communicate Confidential Information to any Person, including (without limitation) originals or copies of any Confidential Information, in any media or format, except for the Company’s benefit within the course and scope of Employee’s employment or with the prior written consent of the CEO; or (ii) take or encourage any action which would circumvent, interfere with or otherwise diminish the value or benefit of Confidential Information to the Company. Employee agrees to use Employee’s best efforts and utmost diligence to protect and safeguard the Confidential Information as prescribed in this Section 4.

 

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4.4.        Return and Review of Information.

a.               Company Property.  All Confidential Information and other information and property affecting or relating to the business of the Company within Employee’s possession, custody or control, regardless of form or format, shall remain at all times the property of the Company.

b.              Upon Request.  At any time that the Company may request, during or after the Employment Period, Employee shall deliver to the Company all Confidential Information and other information and property affecting or relating to the business of the Company within Employee’s possession, custody or control, regardless of form or format. Both during and after the Employment Period, the Company shall have the right of reasonable access to review, inspect, copy, and/or confiscate any Confidential Information within Employee’s possession, custody or control.

c.               Upon Termination. Employee shall return to the Company all Confidential Information and other information and property affecting or relating to the business of the Company within Employee’s possession, custody or control, regardless of form or format, without the necessity of a request, forthwith upon resignation or termination of Employee’s employment, regardless of whether the resignation or termination is voluntary, involuntary, for Cause or not for Cause.

4.5.        Response to Third Party Requests.  Upon receipt of any formal or informal request, by legal process or otherwise, seeking Employee’s direct or indirect disclosure or production of any Confidential Information to any Person, Employee shall promptly and timely notify the Company and provide a description and, if applicable, hand deliver a copy of such request to the Company. Employee irrevocably nominates and appoints the Company, as Employee’s true and lawful attorney-in-fact to act in Employee’s name, place and stead to perform any act that Employee might perform to defend and protect against any disclosure of Confidential Information.

SECTION 5.

OWNERSHIP OF INFORMATION, INVENTIONS, AND ORIGINAL WORK

 

5.1.        Definition.   As used in this Agreement, “Work Product” means all patents and patent applications, all inventions, innovations, improvements, developments, methods, designs, analyses, drawings, reports, creative works, discoveries, software, computer programs, modifications, enhancements, know-how, product, formula or formulations, concepts and ideas, and all similar or related information (in each case whether or not patentable), all copyrights and copyrightable works, all trade secrets, confidential information, and all other intellectual property and intellectual property rights that (in any case above) are conceived, reduced to practice, created, developed or made by Employee, either alone or with others, in the course of employment with the Company (including, without limitation, any such employment before the Effective Date).

 

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5.2.        Ownership and Assignment of Work Product.   Employee hereby agrees that all Work Product will be the exclusive property of the Company, and in consideration of this Agreement, without further compensation, hereby assigns, and (as necessary) agrees to assign, to the Company all right, title, and interest to all Work Product that: (a) relates to: (i) all or any aspect of the Company Parties’ actual or anticipated business, research, and development or existing or future products or services, or (ii) an actual or demonstrably anticipated research or development project of the Company; (b) is conceived, created, reduced to practice, developed, or made entirely or in any part: (i) during his employment or on Company time, or (ii) using any equipment, supplies, facilities, assets, materials, information (including, without limitation, Confidential Information) or resources of any of the Company Parties (including, without limitation, any intellectual property rights); or (c) results from any work performed by Employee for the Company. Any creative works, discoveries, designs, software, computer programs, inventions, improvements, modifications, enhancements, know-how, product, formula or formulation, concept or idea that Employee has within one year following the resignation or termination of employment with the Company shall be deemed to be Work Product owned by the Company under this Section 5, unless proved by Employee to have been outside each of the criteria specified above in this Section 5.2.

5.3.        Disclosure and Cooperation.   Employee shall promptly disclose Work Product to the CEO and perform all actions reasonably requested by the Company (whether during or after the Employment Period) to establish and confirm the ownership and proprietary interest of any of the Company Parties in any Work Product (including, without limitation, the execution of assignments, consents, powers of attorney, applications and other instruments). Employee agrees to assist the Company in obtaining any patent for, copyright on or other intellectual-property protection for the Work Product, and to execute and deliver or otherwise provide such documentation and provide such other assistance as is necessary to or reasonably requested by the Company or its agents or counsel to obtain such patent, copyright, or other protection. Employee shall maintain adequate written records of the Work Product, in such format as may be specified by the Company, and make such records available to, as the sole property of, the Company at all times. Employee shall not file any patent or copyright applications related to any Work Product except with the written consent of the CEO.

SECTION 6.

NON-COMPETITION AND NON-SOLICITATION

 

6.1.        Consideration.   In consideration of the employment, Confidential Information, professional information, specialized training being provided to Employee as stated in Section 4 of this Agreement, access to certain of the Company’s Confidential Information; substantial knowledge of and relationships with Customers, Associates, and Prospects; Company secrets; other proprietary information, and other valuable consideration as stated in this Agreement, including (without limitation) the business relationships, Company goodwill, Customer and vendor relationships, and work experience that Employee will have the opportunity to obtain, use and develop under this Agreement, Employee agrees to the restrictive covenants stated in this Section 6.

6.2.        Acknowledgements.

a.               Ancillary Agreement.  Employee acknowledges and agrees that the restrictive covenants contained in this Section 6 are ancillary to and part of an otherwise enforceable agreement, such being the agreements concerning Confidential Information and other consideration as stated in this Agreement.

 

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b.              Valuable Information. Employee acknowledges and agrees that (i) the Confidential Information and specialized training provided by the Company is highly valuable to the Company and, therefore, that the Company’s investment in the training and the protection and maintenance of the Confidential Information constitutes a legitimate interest to be protected by the Company by the restrictive covenants set forth in this Section 6; (ii) the Company expended and will continue to expend substantial time, money, effort, and other resources to develop its goodwill, Confidential Information, trade secrets, and methods of doing business and that the Company has a legitimate business interest in protecting same; (iii) Company’s Confidential Information, trade secrets, and proprietary methods provide the Company with a competitive advantage in the marketplace and are kept confidential and not shared except with those employees with a need to know them; (iv) Employee will be provided certain Confidential Information, Company secrets, and proprietary information not generally known or available to the Company’s competitors or the general public; (v) Company’s goodwill, Confidential Information, trade secrets, and proprietary methods provide the Company with a means to (i) attract, retain, and motivate Employee to remain an employee of the Company, (ii) promote productivity, and (iii) attract, retain, and motivate a stable, competent executive team and workforce.

c.               Unique Relationships with Customers and Associates.  Employee acknowledges and agrees that (i) in the highly competitive business in which the Company is engaged, personal contact is of primary importance in securing new and retaining present Associates, Customers, and Prospects; (ii) the Company has a legitimate interest in maintaining its relationships with its Associates, Customers, and Prospects; and (iii) it would be unfair for Employee to solicit the business of the Company’s Associates, Customers, and Prospects, exploiting the personal relationships Employee develops with the Company’s Associates, Customers, and Prospects by virtue of Employee’s employment by the Company.

d.               Reasonableness.  Employee acknowledges and agrees that at the time that the restrictive covenants of this Section 6 are made, the limitations as to time, geographic scope, and activity to be restrained, as described herein, are reasonable and do not impose a greater restraint than necessary to protect the good will and other legitimate business interests of the Company, including (without limitation) Confidential Information (including, without limitation, trade secrets), Customer and vendor relationships, solicitation of Prospects, and goodwill.

e.               Termination.  Employee acknowledges and agrees that Employee has carefully read this Agreement and has given careful consideration to the restraints imposed upon Employee by this Agreement, and consents to the terms of the restrictive covenants in this Section 6 in conjunction with the provisions in this Agreement for the termination of his employment, with no expectation or promise of employment for a substantial period of time.

f.               Post-Termination Enforcement.  Employee acknowledges and agrees that, based on the benefits to Employee and new consideration as recited herein, the restrictive covenants of this Section 6, as applicable according to their terms, shall remain in full force and effect even in the event of the resignation or termination of his employment under this Agreement for any reason, whether voluntary or involuntary or with or without Cause.

 

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g.              Other Employment.  Employee acknowledges and agrees that (i) in the event of the resignation or termination of Employee employment under this Agreement, Employee experiences and capabilities are such that he can obtain gainful employment without violating this Agreement, in a business engaged in other lines and/or of a different nature, without Employee incurring undue hardship; and (ii) the enforcement of a remedy under this Section 6 by way of injunction will not prevent Employee from earning a livelihood.

6.3.        Non-Competition and Non-Solicitation.

a.              Non-Competition During Employment.  During the Employment Period, Employee shall not engage in any other business or employment which may detract from Employee’s full performance of Employee’s duties hereunder or which competes in any manner with the Company, and Employee shall not directly or indirectly render any services of a business, commercial or professional nature, to any other Person without the Company’s prior written consent. Further, during employment, Employee shall not directly or indirectly contact, solicit, entice, sponsor or accept any of the Associates into, or in any way promote to any such Associates opportunities in marketing programs of any direct sales company or organization other than the Company.

b.              Non-Competition Post-Employment.  During the Restricted Period, Employee shall not directly or indirectly, on Employee’s own behalf or on the behalf of any other Person, engage in a Competing Business within the Geographic Area, including, without limitation, owning, taking a financial interest in, managing, operating, controlling, being employed by, being associated or affiliated with, being a spokesperson for, providing services as a consultant or independent contractor to, or participating in the ownership, management, operation or control of, any Competing Business; provided, however, that this Section 6.3.b does not preclude ownership of less than 5% of the outstanding equity securities of any public reporting company.

c.              Customer and Prospect Non-Solicitation.  During the Restricted Period, Employee shall not in any manner, directly or indirectly, on Employee’s own behalf or on the behalf of any other Person, induce, solicit or attempt to induce or solicit any Customer or Prospect (i) to do business with a Competing Business, or (ii) to reduce, cease, restrict, terminate or otherwise adversely alter business or business relationships with the Company for the benefit of a Competing Business, regardless of whether Employee initiates contact for that purpose.

d.              Employee Non-Solicitation and No-Hire.  During the Restricted Period, Employee shall not directly or indirectly, on Employee’s own behalf or on behalf of any other Person (i) solicit, recruit, persuade, influence, or induce, or attempt to solicit, recruit, persuade, influence, or induce any Person employed or otherwise retained by the Company (including, without limitation, any independent contractor or consultant), to cease or leave their employment or contractual or consulting relationship with the Company, regardless of whether Employee initiates contact for such purposes, or (ii) hire, employ or otherwise attempt to establish, for any Person, any employment, agency, consulting, independent contractor or other business relationship with any Person who is or was employed or otherwise retained by the Company (including any independent contractor or consultant), for the benefit of a Competing Business.

 

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6.4.        Definitions. The following definitions are for the purposes of this Agreement, including (without limitation) this Section 6. The scope of these definitions is in recognition of the Company-wide scope of Employee’s responsibilities, the broad geographic scope of the Company’s business operations throughout the entire United States of America and in certain foreign countries, and the potential ease of competing with the Company in the absence of the provisions of this Section 6.

a.               “Competing Business”  means any business operation which engages in the business of providing products and services that are the same or substantially similar or directly competes with those that any of the Company manufactured, produced, provided, sold, and/or marketed during Employee’s tenure with the Company, such as the direct selling business, including (without limitation) the direct sale, network and/or multi-level marketing of dietary supplements, skin care or wellness products.

b.               “Customer”  means (i) any Associate or other Person with whom or which the Company has had any contract any time during the Employment Period or any time during the one year period immediately preceding the Effective Date, and/or (ii) any customer, vendor, supplier, licensor or other Person in a business relationship with the Company, for which Employee or employees working under Employee’s supervision had any direct or indirect responsibility during the Employment Period.

c.               “Employment Period”  means the term of Employee’s employment under this Agreement, from the Effective Date through the last date of Employee’s work for the Company under this Agreement, regardless of whether the termination is voluntary, involuntary, for Cause, or not for Cause.

d.               “Geographic Area”  means (i) those cities and states in the United States of America and foreign countries in which the Company does business during the Employment Period; and/or (ii) the geographic area of Employee’s responsibilities during the Employment Period.

e.               “Prospect”  means Persons, firms, and corporations that are actively solicited by the Company during the Employment Period to become Customers.

f.               “Restricted Period” means the Employment Period and the one year period commencing on the Termination Date, regardless of whether Employee’s termination from the Company is voluntary or involuntary, for Cause or not for Cause. This time period shall be extended by one day for each day that Employee is determined to be in violation of Sections 4, 5 and/or 6 of this Agreement, as determined by a court or arbitrator of competent jurisdiction.

g.               “Termination Date”  means Employee’s last date of employment with the Company.

6.5.        Fiduciary Duty.Employee acknowledges and agrees that Employee owes a fiduciary duty of loyalty, fidelity, and allegiance to act at all times in the best interests of the Company. In keeping with these duties, Employee shall make full disclosure to the Company of all business opportunities pertaining to the Company’s business, and shall not appropriate for Employee’s own benefit, any business opportunities concerning the subject matter of the fiduciary relationship.

 

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6.6.        Survival.   This Section 6 shall survive the cessation or termination of Employee’s employment under this Agreement, subject to the time and scope limitations set forth in this Section 6.

6.7.        Substitution/Revision.   If, at the time of enforcement of the restrictive covenants in this Section 6, a court holds that the restrictions stated in this Section 6 are unreasonable under circumstances then existing, then the maximum duration, scope or geographical area reasonable under such circumstances shall automatically be substituted for the stated duration, scope or geographic area and the court shall be allowed and is hereby requested to revise the restrictions contained herein to cover the maximum duration, scope and geographic area permitted by law. The covenants contained in Sections 6.3.a, 6.3.b, 6.3.c, and 6.3.d hereof are independent of and severable from one another.

6.8.        Independent Covenants.   All covenants contained in Section 6 of this Agreement shall be construed as agreements independent of any other provision of this Agreement, and the existence of any claim or cause of action by Employee against the Company, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by the Company of such covenants.

SECTION 7.

NON-DISPARAGEMENT

 

7.1.        Non-Disparagement.   Employee agrees that, both during and after the Employment Period, Employee will not make any statements which would constitute libel, slander or disparagement of the Company or any of its directors, officers, shareholders, or affiliates, provided however, that the terms of this Section 7 shall not apply to communications between Employee and, as applicable, Employee’s attorneys or other Persons with whom or which communications would be subject to a claim of privilege existing under common law, statute or rule of procedure.

SECTION 8.

REMEDIES

 

8.1.        Remedies.   In the event of a breach of this Agreement by any Party, and subject to the remaining provisions of this Section 8, the aggrieved Party shall be entitled to all appropriate equitable and legal relief, including, but not limited to: (a) an injunction to enforce this Agreement or prevent conduct in violation of this Agreement; (b) damages incurred as a result of the breach; and (c) attorneys’ fees and costs incurred in enforcing the terms of this Agreement.

8.2.        Arbitration.  SUBJECT TO THE RIGHTS OF EITHER PARTY TO SEEK INJUNCTIVE OR OTHER EQUITABLE RELIEF IN A COURT OF EQUITY, BINDING ARBITRATION SHALL BE THE EXCLUSIVE REMEDY FOR ANY AND ALL DISPUTES, CLAIMS, OR CONTROVERSIES BETWEEN THE PARTIES HERETO, WHETHER STATUTORY, CONTRACTUAL OR OTHERWISE, ARISING UNDER OR RELATING TO THIS AGREEMENT OR EMPLOYEE’S EMPLOYMENT BY OR TERMINATION FROM THE COMPANY (INCLUDING, BUT NOT LIMITED TO, THE AMOUNT OF DAMAGES, OR THE CALCULATION OF ANY BONUS OR OTHER AMOUNT OR BENEFIT DUE) (COLLECTIVELY, “DISPUTES”). THE PARTIES EACH WAIVE THE RIGHT TO A JURY TRIAL AND WAIVE THE RIGHT TO ADJUDICATE THEIR DISPUTES UNDER THIS AGREEMENT OUTSIDE THE ARBITRATION FORUM PROVIDED FOR IN THIS AGREEMENT, EXCEPT AS SPECIFICALLY PROVIDED IN THIS AGREEMENT. In the event either party provides a notice of arbitration of any dispute to the other party, the parties agree to submit that dispute to a single arbitrator selected from a panel of arbitrators of JAMS located in Dallas, Texas. The arbitration will be governed by the JAMS Comprehensive Arbitration Rules and Procedures in effect at the time the arbitration is commenced. If for any reason JAMS cannot serve as the arbitration administrator, the Company may select an alternative arbitration administrator, such as the American Arbitration Association, to serve under the terms of this Agreement. The parties further agree to abide by and perform any award rendered by the arbitrator.

 

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8.3.       VENUE. THE PARTIES STIPULATE AND AGREE THAT THE EXCLUSIVE VENUE OF ANY SUCH ARBITRATION PROCEEDING (AND OF ANY OTHER PROCEEDING, INCLUDING (WITHOUT LIMITATION) ANY COURT PROCEEDING, UNDER THIS AGREEMENT) SHALL BE DALLAS COUNTY, TEXAS (THE “AGREED VENUE”).

8.4.        Authority and Decision. The arbitrator shall have the authority to award the same damages and other relief that a court could award. The arbitrator shall issue a reasoned award explaining the decision and any damages awarded. The arbitrator’s decision will be final and binding upon the parties and enforceable by a court of competent jurisdiction. The parties will abide by and perform any award rendered by the arbitrator. In rendering the award, the arbitrator shall state the reasons therefore, including (without limitation) any computations of actual damages or offsets, if applicable.

8.5.        Fees and Costs.  In the event of arbitration under the terms of this Agreement, the fees charged by JAMS or other arbitration administrator and the arbitrator shall be borne by the parties as determined by the arbitrator, except for any initial registration fee, which the parties shall bear equally. Otherwise, the parties shall each bear their own costs, expenses and attorneys’ fees incurred in arbitration; provided, however, that the prevailing party shall be entitled to recover and have awarded its attorneys’ fees, court costs, arbitration expenses, and its portion of the fees and costs charged by JAMS or other arbitration administrator, regardless of which Party initiated the proceedings, in addition to any other relief to which it may be entitled. The determination of the “prevailing party” and the amount of fees, costs and expenses awarded shall be in the discretion of the arbitrator and shall be based upon such evidence as the arbitrator deems appropriate, including the relief awarded as compared to the last bona fide settlement offer made by the opposing party prior to the initiation of the arbitration proceeding, as well as any bona fide settlement offer made during the proceeding taking into account the fees, costs and expenses incurred thereafter.

8.6.        Limited Scope.  The following are excluded from binding arbitration under this Agreement: claims for workers’ compensation benefits or unemployment benefits; replevin; and claims for which a binding arbitration agreement is invalid as a matter of law.

8.7.        Statutes of Limitations.  All statutes of limitations that would otherwise be applicable (as well as other laws and statutes of applicability to any Dispute in issue) shall apply to any arbitration proceeding hereunder, and the arbitrator is specifically empowered to decide any question pertaining to limitations.

 

	EMPLOYMENT AGREEMENT	Page 12 of 19

  

 

  

 

8.8.        Injunctive Relief.  The parties hereto may seek injunctive relief in arbitration; provided, however, that as an exception to the arbitration agreement set forth in Section 8.2 hereof, the parties, in addition to all other available remedies, shall each have the right to initiate an action in any court of competent jurisdiction in order to request injunctive or other equitable relief regarding the terms of this Agreement. The exclusive venue of any such proceeding shall be in the Agreed Venue. The parties agree (a) to submit to the jurisdiction of any competent court in the Agreed Venue, (b) to waive any and all defenses the Employee may have on the grounds of lack of jurisdiction of such court, and (c) that neither party shall be required to post any bond, undertaking or other financial deposit or guarantee in seeking or obtaining such equitable relief. Evidence adduced in any such proceeding for an injunction may be used in arbitration as well. The existence of this right shall not preclude or otherwise limit the applicability or exercise of any other rights and remedies that a party hereto may have at law or in equity.

SECTION 9.

TERMINATION OF EMPLOYMENT

 

9.1.        Events of Termination.   In addition to termination of employment in accordance with Section 2 hereof, Employee’s employment by the Company under this Agreement (1) shall terminate upon the death of Employee, and (2) may be terminated by the Company, immediately upon written notice of termination to Employee, upon Employee’s Disability or for Cause. In this Agreement:

a.               “Disability” means Employee’s becoming incapacitated by accident, sickness, or other circumstances that, in the reasonable judgment of the Board renders or is expected to render Employee mentally or physically incapable of performing the essential duties and services required of him hereunder, with or without reasonable accommodation, for a period of at least ninety (90) consecutive calendar days.

b.       “Cause” means any of the following:

	 	
i.

	
the Company’s determination that Employee has neglected, failed, or refused to render the services or perform any other of his duties or obligations in or under this Agreement (including, without limitation, because of any alcohol or drug abuse);

	 	
ii.

	
Employee’s violation of any provision of or obligation under this Agreement;

	 	
iii.

	
Employee’s indictment for, or entry of a plea of no contest with respect to, any crime that adversely affects or (in the Board’s reasonable judgment) may adversely affect the Company or the utility of Employee’s services to the Company; or

	 	
iv.

	
any other act or omission of Employee involving fraud, theft, dishonesty, disloyalty, or illegality with respect to, or that harms or embarrasses or (in the Board’s reasonable judgment) may harm or embarrass, the Company or any of its subsidiaries, affiliates, customers, dealers or suppliers.

 

	EMPLOYMENT AGREEMENT	Page 13 of 19

  

 

  

 

Notwithstanding any other provision of this Agreement, if the Company gives notice of termination for Cause under clauses i. or ii. above in this Section 9.1(b), then Employee at his sole option shall have sixty (60) days from the date of such notice to effect a cure or resolution of the reasons giving rise to the termination (the “Employee Remedy Period”) before the termination becomes effective. If the reasons giving rise to such termination are cured or resolved by Employee within the Employee Remedy Period, then the termination will be deemed to be without Cause for the purposes of this Agreement, unless it is withdrawn by the Company by the end of the Employee Remedy Period.

 

c.       “Good Reason” means any of the following:

	 	
i.

	
the Company’s denial of compensation due and owing to Employee under this Agreement, where such denial is by any means, including but not limited to a material act or omission of fraud, theft, or dishonesty in the Company’s accounting practices or otherwise;

	 	
ii.

	
the requirement by the Company that Employee be based anywhere other than Dallas County, Texas, except for travel incident to the Company’s business;

	 	
iii.

	
the Company’s demotion of Employee in title or pay, or the Company’s removal of a material portion of Employee’s significant duties or responsibilities pursuant to this Agreement, without Employee’s consent; or

	 	
iv.

	
the Company’s material breach of this Agreement.

Notwithstanding any other provision of this Agreement, if Employee gives notice of resignation for Good Reason under clauses i., ii., iii., or iv. above in this Section 9.1(c), then the Company at its sole option shall have sixty (60) days from the date of such notice to effect a cure or resolution of the reasons giving rise to the resignation (the “Company Remedy Period”), before the resignation becomes effective. If the reasons giving rise to such resignation are cured or resolved by the Company within the Company Remedy Period, then the resignation will be deemed to be without Good Reason for the purposes of this Agreement, unless it is withdrawn by Employee by the end of the Company Remedy Period.

 

9.2.        Non-Renewal.   In the event the Company gives notice to Employee that Company will terminate this Agreement at the expiration of any term, then the Agreement will automatically terminate at the end of such term.

9.3.        Severance.

  a.    Nothing contained in this Agreement shall be construed as impacting the right of the Company to terminate Employee’s employment with the Company.

  b.    Unless Employee resigns without Good Reason, or is terminated by the Company for Cause or due to the death of Employee, Employee shall continue to receive his base salary as set forth in Section 3.1 of this Agreement for twelve (12) months from the Termination Date.

 

	EMPLOYMENT AGREEMENT	Page 14 of 19

  

 

  

 

  c.    Any amount owed to Employee under this Section 9.3 will be paid in regular installments on the usual and customary pay dates of the Company.

9.4.       Release.   As a condition to the receipt of any Severance payment under Section 9.3 of this Agreement, Employee shall be required to execute a release, in the form established by the Company, releasing Company and Company’s shareholders, partners, officers, directors, employees, and agents from any and all claims and from any and all causes of any kind or character, including, but not limited to, all claims or causes of action arising out of Employee’s employment with the Company, the termination of such employment, or any actions or omissions occurring during such employment, and the performance of Employee’s and Company’s obligations hereunder.

9.5.        Effects of Termination.   Section 9.3 notwithstanding, upon any cessation or termination of employment under this Agreement, all further rights of Employee to employment and compensation and benefits from the Company under this Agreement will cease, except that the Company shall pay Employee the following:

a.               Any amount of base salary earned by, but not yet paid to, Employee through the last date of the Employment Period;

b.               Any annual bonus, or portion thereof, that is earned by, but not yet paid to, Employee through the Termination Date;

 

c.               All reimbursable expenses due, or but not paid, to Employee as of the Termination Date in accordance with Section 3.6 hereof.,

d.               All benefits (or an amount equivalent thereto) that have been earned by or vested in, and are payable to, Employee under, and subject to the terms of, the employee benefit plans or arrangements of the Company in which Employee participated through the Termination Date in accordance with Section 3.7 hereof; and

Any amount due under clause b. above in this Section 9.5 shall be paid in the same manner and on the same date as would have occurred if Employee’s employment under this Agreement had not ceased. Any amount due under clause d. above in this Section 9.5 shall be paid in accordance with the terms of the employee-benefit plans or arrangements under which such amounts are due to Employee. Any amounts due under clause c. of this Section 9.5 shall be paid in accordance with the terms of the Company’s policies, practices, and procedures regarding reimbursable expenses. Except as modified in Section 9.3 hereof for the payment of such amounts when due, the Company shall have no further obligation or liability under this Agreement for any other compensation, payment, or benefit to Employee. The stock option agreements between the Parties and the plan shall govern Employee’s outstanding stock options upon or after cessation or termination of employment. Also upon cessation or termination of employment hereunder (unless Employee continues otherwise to be employed by the Company), Employee (1) shall return to the Company the leased vehicle provided for Employee’s use in accordance with Section 3.8 hereof, and (2) shall resign or shall be deemed to have resigned from any position as an officer or director, or both, of any subsidiary or affiliate of the Company. 

 

	EMPLOYMENT AGREEMENT	Page 15 of 19

  

 

  

 

9.6.        Post-employment Cooperation.Upon and for a period of six (6) months after the Termination Date, Employee will cooperate fully with the Company in connection with any matter related to the Company’s business and activities, by being available at mutually agreeable times, in person or by telephone, and without any unreasonable interference with Employee’s other activities, to provide such information as may from time to time be requested by the Company regarding various matters in which Employee was involved during Employee’s employment with the Company. Also, upon and after the Termination Date, Employee will cooperate fully with the Company in connection with any and all pending or future litigation or administrative claims, investigations, or proceedings involving the Company. Employee’s cooperation under this Section 9.6 includes (without limitation) Employee’s meeting with the Company’s counsel and advisors at reasonable times upon their request, and providing testimony (in court or at depositions) that is truthful and complete in accordance with information known to Employee. For all activities required of Employee under this Section 9.6, Employee shall be compensated at Employee’s then hourly rate, except to the extent prohibited by law.

SECTION 10.

MEDIA NON-DISCLOSURE

 

10.1.      Media Nondisclosure.   Employee agrees that, both during and after the Employment Period, except as may be authorized in writing by the Company, Employee will not directly or indirectly disclose or release to the Media any information concerning or relating to any aspect of Employee’s employment or cessation or termination of Employee’s employment with the Company and/or any aspect of any Dispute that is the subject of this Agreement. For the purposes of this Agreement, “Media” includes, without limitation, any news organization, station, publication, show, website, web log (blog), bulletin board, chat room, social media, and/or program (past, present and/or future), whether published through the means of print, radio, television and/or the Internet or otherwise, and any member, representative, agent and/or employee of the same.

SECTION 11.

REPRESENTATIONS BY EMPLOYEE

 

11.1.      No Conflict.   Employee hereby represents and warrants to the Company that Employee’s execution of this Agreement and Employee’s performance of Employee’s duties and obligations hereunder will not conflict with, cause a default under, or give any party a right to damages under any other agreement or obligation to which Employee is a party or is bound. Employee further represents to the Company that (i) except as disclosed to the Company in writing on or before the date hereof, Employee is not a party to any agreement or understanding, written or oral, which may restrict Employee in any manner from engaging in any activities which Employee may be required or expected to perform in connection with Employee’s duties with the Company; (ii) Employee will not disclose or use any confidential information that belongs to a former employer or other third party for the Company’s benefit without the prior consent of such former employer or other third party; and (iii) Employee returned or destroyed any papers in Employee’s possession, which contained a former employer’s or other third party’s confidential information which Employee has a duty not to disclose.

 

	EMPLOYMENT AGREEMENT	Page 16 of 19

  

 

  

 

SECTION 12.

GENERAL

 

12.1.      Governing Law.   This Agreement shall be governed by, and enforced and construed under, the laws of the State of Texas, except to the extent preempted by federal law.

12.2.      Binding Effect; Assignment.   All of the terms and provisions of this Agreement shall be binding upon, inure to the benefit of and be enforceable by the respective heirs, representatives, successors (including, without limitation, any successor as a result of a merger or similar reorganization) and assigns of the Parties, except that Employee’s rights, benefits, duties and responsibilities hereunder are of a personal nature and shall not be assignable in whole or in part by Employee.

12.3.      Notices.   All notices required or permitted to be given under this Agreement shall be in writing and shall be deemed to have been given and received (a) when personally delivered or delivered by same-day courier; (b) on the third business day after mailing by registered or certified mail, postage prepaid, return receipt requested; or (c) upon delivery when sent by prepaid overnight delivery service, in any case addressed as follows:

 

	 	If to Employee: 	
Roy Truett

	 
	 	 	
2306 Old Rosebud Lane

	 
	 	 	
South Jordan, Utah 84095

	 
	 	 	 	 
	 	If to the Company: 	
Chief Executive Officer

	 
	 	 	
Mannatech Incorporated

	 
	 	 	
600 S. Royal Lane, Suite 200

	 
	 	 	
Coppell, Texas 75019

	 

 

A Party’s address may be changed from time to time by written notice to the other Party in accordance with this Section 12.3.

 

12.4.      Prior Agreements Superseded.   This Agreement supersedes all prior agreements between the Parties of any and every nature whatsoever, including (without limitation) agreements for additional compensation or benefits. All such prior agreements are null and void.

12.5.      Duration.   Notwithstanding the cessation or termination of Employee’s employment under any agreement between the Parties, this Agreement will continue to bind the Parties for so long as any obligations remain under the terms of this Agreement.

12.6.      Amendment; Waiver.   No amendment to or modification of this Agreement, or waiver of any term, provision, or condition of this Agreement, will be binding upon a Party unless the amendment, modification, or waiver is in writing and signed by the Party to be bound. Any waiver by a Party of a breach or violation of any provision of this Agreement by the other Party will not be deemed a waiver of any other provision or of any subsequent breach or violation.

 

	EMPLOYMENT AGREEMENT	Page 17 of 19

  

 

  

 

12.7.      Enforcement and Severability.The Parties intend all provisions of this Agreement to be enforced to the fullest extent permitted by law. Accordingly, should a court of competent jurisdiction determine that the scope of any provision of this Agreement is too broad to be enforced as written, the Parties intend for the court to reform the provision to such narrower scope as it determines to be reasonable and enforceable. If, however, any provision of this Agreement is held to be illegal, invalid, or unenforceable, the provision will be severed, this Agreement will be construed and enforced as if such illegal, invalid, or unenforceable provision were never a part of it, and the remaining provisions will remain in full force and effect.

12.8.      Subsidiaries Included.   Wherever the “Company” is referred to in this Agreement, it will include all subsidiaries of the Company as they may exist from time to time, even where the term “subsidiaries” is not explicitly stated in connection with such reference.

12.9.      Certain Defined Terms; Headings.   As used in this Agreement:

a.               “business day” means any Monday through Friday other than any such weekday on which the executive offices of the Company are closed.

b.               “herein,” “hereof,” “hereunder,” and similar terms are references to this Agreement as a whole and not to any particular provision of this Agreement.

c.               “Person” means an individual, an independent contractor, a sole proprietor, a partnership, a limited liability company, a corporation, an association, a joint stock company, a trust, a joint venture, an unincorporated organization, a governmental entity, court, department, agency or political subdivision, or other individual, business, or governmental entity, as applicable.

d.               Use herein of “annual” or “monthly” (or similar terms) to indicate a measurement period will not itself be deemed to grant rights to Employee for employment or compensation for such period. The Section and other descriptive headings in this Agreement are only for convenience of reference and are not to be used to construe or interpret this Agreement or any of its provisions.

12.10.    Employee Acknowledgment. Employee affirms and attests, by signing this Agreement, that Employee has read this Agreement before signing it and that Employee fully understands its purposes, terms, and provisions, which Employee hereby expressly acknowledges to be reasonable in all respects. Employee further acknowledges receipt of one copy of this Agreement.

12.11.    Section 409A Compliance. It is the intention of the Company and Employee that this Agreement not result in unfavorable tax consequences to Employee under Section 409A of the Code. The Company and Employee acknowledge that only limited guidance has been issued by the Internal Revenue Service with respect to the application of Code Section 409A to certain arrangements, such as this Agreement. It is expected by the Company and Employee that the Internal Revenue Service will provide further guidance regarding the interpretation and application of Section 409A of the Code in connection with finalizing its recently proposed regulations. The Company and Employee acknowledge further that the full effect of Section 409A of the Code on potential payments pursuant to this Agreement cannot be determined at the time that the Company and Employee are entering into this Agreement. The Company and Employee agree to work together in good faith in an effort to comply with Section 409A of the Code including, if necessary, amending the Agreement based on further guidance issued by the Internal Revenue Service from time to time, provided that neither party will be required to assume an economic burden beyond what is already required by this Agreement.

 

	EMPLOYMENT AGREEMENT	Page 18 of 19

  

 

  

 

IN WITNESS WHEREOF, the Parties, intending to be legally bound, have duly entered into this Agreement as of the Effective Date.

 

	 	
ROY TRUETT

	 
	 	
By: /s/ Roy Truett

	 
	 	Date:	 	 
	 	 	 	 
	 	
MANNATECH INCORPORATED

	 
	 	
By: /s/ Robert S. Sinnott

	 
	 	Date:	 	 

 

 

 

	EMPLOYMENT AGREEMENT	Page 19 of 19PATENT PURCHASE AGREEMENT

 

This
PATENT PURCHASE AGREEMENT (this “Agreement”) is entered into, as of the Effective Date (defined below), by
and between CUI Global, Inc., a Colorado corporation, with an office at 20050 SW
112th Avenue, Tualatin, OR 97062 (“Seller”)
and Olantra Fund X L.L.C., a Delaware limited liability company, with an address at 2711 Centerville
Rd, Suite 400, Wilmington, DE 19808 (“Purchaser”).
The parties hereby agree as follows: 

 

		1.	Background

 

1.1           Seller
owns certain provisional patent applications, patent applications, patents, and/or related foreign patents and applications.

 

1.2           Seller
wishes to sell to Purchaser all right, title, and interest in such patents and applications and the causes of action to sue for
infringement thereof and other enforcement rights.

 

1.3           Purchaser
wishes to purchase from Seller all right, title, and interest in the Assigned Patent Rights (defined below), free and clear of
any restrictions, liens, claims, and encumbrances.

 

		2.	Definitions

 

“Abandoned Assets”means those
specific provisional patent applications, patent applications, patents and other governmental grants or issuances listed on Exhibit
C (as such list may be updated based on Purchaser's review pursuant to paragraph 3.1).

 

“Assigned
Patent Rights”means the Patents and the additional rights set forth in paragraph 4.2.

 

“Assignment Agreements”means
the agreements assigning ownership of the Assigned Patent Rights and the Abandoned Assets from the inventors and/or prior owners
to Seller.

 

“ Common Interest
Agreement”means an agreement, in the form set forth on Exhibit E, setting forth the terms under which
Seller and Purchaser will protect certain information relating to the Patents under the common interest privilege.

 

“ Docket”means
Seller's or its agents' list or other means of tracking information relating to the prosecution or maintenance of the Patents throughout
the world, including, without limitation, the names, addresses, email addresses, and phone numbers of prosecution counsel and agents,
and information relating to deadlines, payments, and filings, which list or other means of tracking information is current as of
the Effective Date.

 

“ Effective Date”
means the date set forth as the Effective Date on the signature page of this Agreement.

 

“ Executed Assignments”
means both the executed and witnessed Assignment of Patent Rights in Exhibit B, the executed Assignment of
Rights in Certain Assets in Exhibit C, each as signed by a duly authorized representative of Seller, and the additional
documents Seller may be required to execute and deliver under paragraph 5.3.

 

    	 

    	 

    

 

“Live Assets”means
the provisional patent applications, patent applications, and patents listed on Exhibits A and/or B (as such lists may be updated based on Purchaser's review pursuant to paragraph 3.1).

 

“Patents”means, excluding the Abandoned
Assets, all (a) Live Assets; (b) patents or patent applications (i) to which any of the Live Assets directly or indirectly claims
priority, (ii) for which any of the Live Assets directly or indirectly forms a basis for priority, and/or (iii) that were commonly-owned
applications that incorporate by reference, or are incorporated by reference into, the Live Assets; (c) reissues, reexaminations,
extensions, continuations, continuations in part, continuing prosecution applications, requests for continuing examinations, divisions,
and registrations of any item in any of the foregoing categories (a) and (b); (d) foreign patents, patent applications and counterparts
relating to any item in any of the foregoing categories (a) through (c), including, without limitation, certificates of invention,
utility models, industrial design protection, design patent protection, and other governmental grants or issuances; and (e) any
items in any of the foregoing categories (b) through (d) whether or not expressly listed as Live Assets and whether or not claims
in any of the foregoing have been rejected, withdrawn, cancelled, or the like.

 

“Primary Warranties”means,
collectively, the representations and warranties of Seller set forth in paragraphs 6.1, 6.2, 6.3, 6.4, and 6.5 hereof.

 

“ Prosecution History
Files”means all files, documents and tangible things, as those terms have been interpreted pursuant to rules and
laws governing the production of documents and things, constituting, comprising or relating to the investigation, evaluation, preparation,
prosecution, maintenance, defense, filing, issuance, registration, assertion or enforcement of the Patents.

 

		“	Transmitted Copy”has the meaning set forth in paragraph
8.12. 

 

3.            Transmittal,
review, closing conditions and payment 

 

3.1           
Transmittal. Within twenty (20) calendar days following the later of the Effective Date or the date Purchaser receives
a Transmitted Copy of this Agreement executed by Seller, Seller will send to Purchaser, or its legal counsel, the items identified
on Exhibit D (the “Initial Deliverables”); provided, however, the Common Interest Agreement will
not be required to be executed on behalf of the Seller if there are no pending patent applications included in the Patents. Seller
acknowledges and agrees that Purchaser may request, and Seller will promptly deliver to Purchaser or its legal counsel, as directed
by Purchaser, additional documents based on Purchaser's review of the Initial Deliverables (such additional documents and the
Initial Deliverables are, collectively, the “Deliverables”), and that as a result of Purchaser's review,
the lists of Live Assets on Exhibits A and B and the list of Abandoned Assets on Exhibit C,
may be revised by Purchaser, with mutual agreement of Seller (evidenced by one or more Executed
Assignments), both before and after the Closing to conform these lists to the definition of Patents (and these revisions may therefore
require the inclusion of additional provisional patent applications, patent applications, and patents on Exhibit A and
B or Exhibit C). To the extent any of the Live Assets are removed for any reason, the payment in paragraph
3.4 may be reduced by mutual agreement of the parties. If originals of the Deliverables are not available and delivered to Purchaser
prior to Closing, Seller will cause (i) such originals of the Deliverables to be sent to Purchaser or Purchaser's representative
promptly if and after such originals are located and (ii) Seller will deliver to Purchaser a declaration, executed under penalty
of perjury, detailing Seller's efforts to locate such unavailable original documents and details regarding how delivered copies
were obtained. 

 

    	 

    	 

    

 

3.2          
Closing. The closing of the sale of the Assigned Patent Rights and the assignment of the Abandoned Assets hereunder will
occur when all conditions set forth in paragraph 3.3 have been satisfied or waived and the payment set forth in paragraph 3.4
is made (the “Closing”). Purchaser and Seller will use reasonable efforts to carry out
the Closing within thirty (30) calendar days following the later of the Effective Date or the date on which the last of the Deliverables
was received by Purchaser.

 

3.3          
Closing Conditions. The following are conditions precedent to Purchaser's obligation to make the payment in paragraph 3.4.

 

(a)          
Signature by Seller. Seller timely executed this Agreement and delivered a Transmitted Copy of this Agreement to Purchaser's
representatives by not later than September 16, 2011 at 5:00 p.m., Pacific Daylight Time and promptly delivered one (1) executed
original of this Agreement to Purchaser's representatives.

 

(b)          
Transmittal of Documents. Seller delivered to Purchaser all the Deliverables.

 

(c)          
Compliance With Agreement. Seller
performed and complied in all respects with all of the obligations under this Agreement that are to be performed or complied with
by it on or prior to the Closing.

 

(d)          
Representations and Warranties True. Purchaser is satisfied that, as of the Effective Date and as of the Closing, the representations
and warranties of Seller contained in Section 6 are true and correct.

 

(e)          
Patents Not Abandoned. Purchaser is satisfied that, as of the Effective Date and as of the Closing, none of the assets
that are included in the Patents have expired, lapsed, been abandoned, or deemed withdrawn.

 

(f)          
Delivery of Executed Assignments. Seller caused the Executed Assignments to be delivered to Purchaser's representatives.

 

3.4         
Payment. At Closing, Purchaser will pay to Seller the amount of Five Hundred Thousand U.S. Dollars (US $500,000) by wire
transfer. Prior to Closing, Seller will furnish Purchaser with all necessary information to make a wire transfer to a designated
bank account of Seller. Purchaser may record the Executed Assignments with the applicable patent offices only on or after Closing.

 

3.5         
Termination and Survival. In the event all conditions to Closing set forth in paragraph 3.3 are not met within ninety (90)
days following the Effective Date, Purchaser will have the right to terminate this Agreement by written notice to Seller. Upon
termination, Purchaser will return all documents delivered to Purchaser under this Section 3 to Seller. The provisions of Section
8 will survive any termination.

 

4.            TRANSFER
OF PATENTS AND ADDITIONAL RIGHTS 

 

4.1          
Assignment of Patents. Upon the Closing, Seller hereby sells, assigns, transfers, and conveys to Purchaser all right, title,
and interest in and to the Assigned Patent Rights. Seller understands and acknowledges that, if any of the Patents are assigned
to Seller's affiliates or subsidiaries, Seller may be required prior to the Closing to perform certain actions to establish that
Seller is the assignee and to record such assignments. On or before Closing, Seller will execute and deliver to Purchaser the
Assignment of Patent Rights in the form set forth in Exhibit B (as may be updated based on Purchaser's review pursuant
to paragraph 3.1).

 

    	 

    	 

    

 

4.2          Assignment
of Additional Rights. Upon the Closing, Seller hereby also sells, assigns, transfers, and conveys to Purchaser all right,
title and interest in and to all

 

(a)          
inventions, invention disclosures, and discoveries described in any of the Patents or Abandoned Assets that (i) are included in
any claim in the Patents or Abandoned Assets, (ii) are subject matter capable of being reduced to a patent claim in a reissue
or reexamination proceeding brought on any of the Patents or Abandoned Assets, and/or (iii) could have been included as a claim
in any of the Patents or Abandoned Assets;

 

(b)          
rights to apply in any or all countries of the world for patents, certificates of invention, utility models, industrial design
protections, design patent protections, or other governmental grants or issuances of any type related to any of the Patents and
the inventions, invention disclosures, and discoveries therein;

 

(c)          
causes of action (whether
known or unknown or whether currently pending, filed, or otherwise) and other enforcement rights under, or on account of , any
of the Patents and/or the rights described in subparagraph 4.2(b), including, without limitation, all causes of action and other
enforcement rights for (i) damages, (ii) injunctive relief, and (iii) any other remedies of any kind for past, current and future
infringement; and

 

(d)          
rights to collect royalties or other payments under or on account of any of the Patents and/or any of the foregoing.

 

4.3           
Assignment of Rights in Certain Assets. Upon the Closing, Seller hereby sells, assigns, transfers, and conveys to Purchaser
all of Seller's right, title, and interest in and to the Abandoned Assets. On or before Closing, Seller will execute and deliver
to Purchaser the Assignment of Certain Rights in the form set forth in Exhibit C (as may be updated based on Purchaser's
review pursuant to paragraph 3.1).

 

5.            Additional
obligations 

 

5.1         Further
Cooperation.

 

(a)          
At the reasonable request of Purchaser, Seller will execute and deliver such other instruments and do and perform such other acts
and things as may be necessary or desirable for effecting completely the consummation of the transactions contemplated hereby,
including, without limitation, execution, acknowledgment, and recordation of other such papers, and using commercially reasonable
efforts to obtain the same from the respective inventors, as necessary or desirable for fully perfecting and conveying unto Purchaser
the benefit of the transactions contemplated hereby.

 

(b)          
To the extent any attorney-client privilege or the attorney work-product doctrine applies to any portion of the Prosecution History
Files and that is retained after Closing under Seller's or Seller's representatives' normal document retention policy, Seller will
ensure that, if any such portion of the Prosecution History File remains under Seller's possession or control after Closing, it
is not disclosed to any third party unless (a) disclosure is ordered by a court of competent jurisdiction, after all appropriate
appeals to prevent disclosure have been exhausted, and (b) Seller gave Purchaser prompt notice upon learning that any third party
sought or intended to seek a court order requiring the disclosure of any such portion of the Prosecution History File. In addition,
Seller will continue to prosecute, maintain, and defend the Patents at its sole expense until the Closing.

 

    	 

    	 

    

 

(c)            Seller will also, at the reasonable
request of Purchaser after Closing, assist Purchaser in providing, and obtaining, from the respective inventors, prompt production
of pertinent facts and documents, otherwise giving of testimony, execution of petitions, oaths, powers of attorney, specifications,
declarations or other papers and other assistance reasonably necessary for filing patent applications, enforcement or other actions
and proceedings with respect to the claims under the Patents. Purchaser shall compensate Seller for any reasonable, documented
disbursements and time incurred after Closing in connection with providing assistance under this subparagraph 5.l(c) in connection
with any enforcement or other infringement action regarding the Patents, under a standard billable hour rate of Seller; provided
that Seller shall have furnished Purchaser an advance, written estimate of the fees and costs for such assistance and Purchaser
shall have agreed in writing to pay such fees and costs.

 

5.2           
Payment of Fees. Seller will pay any maintenance fees, annuities, and the like due or payable on the Patents until the
Closing. For the avoidance of doubt, Seller shall pay any maintenance fees for which the fee is payable (e.g., the fee payment
window opens) on or prior to the Closing even if the surcharge date or final deadline for payment of such fee would be after the
Closing. Seller hereby gives Purchaser power-of-attorney to (a) execute documents in the name of Seller in order to effectuate
the recordation of the transfers of any portion of the Patents in an governmental filing office in the world and (b) instruct
legal counsel to take steps to pay maintenance fees and annuities that Seller declines to pay and to make filings on behalf of
Seller prior to Closing and otherwise preserve the assets through Closing.

 

5.3           
Foreign Assignments. To the extent the Patents include non-United States patents and patent applications, Seller will deliver
to Purchaser's representatives executed documents in a form as may be required in the non-U.S jurisdiction in order to perfect
the assignment to Purchaser of the non-U.S. patents and patent applications.

 

6.             Representations
and warranties of seller 

 

Seller hereby represents and
warrants to Purchaser as follows that, as of the Effective Date and as of the Closing:

 

6.1           
Authority. Seller is a company duly formed, validly existing, and in good standing under the laws of the jurisdiction of
its formation. Seller has the full power and authority and has obtained all third party consents, approvals, and/or other authorizations
required to enter into this Agreement and to carry out its obligations hereunder, including, without limitation, the assignment
of the Assigned Patent Rights to Purchaser.

 

6.2           
Title and Contest. Seller owns all right, title, and interest to the Assigned Patent Rights, including, without limitation,
all right, title, and interest to sue for infringement of the Patents. Seller has obtained and properly recorded previously executed
assignments for the Patents as necessary to fully perfect its rights and title therein in accordance with governing law and regulations
in each respective jurisdiction. The Assigned Patent Rights are free and clear of all liens, claims, mortgages, security interests
or other encumbrances, and restrictions. There are no actions, suits, investigations, claims, or proceedings threatened, pending,
or in progress relating in any way to the Assigned Patent Rights.

 

    	 

    	 

    

 

There are no existing contracts, agreements, options, commitments,
proposals, bids, offers, or rights with, to, or in any person to acquire any of the Assigned Patent Rights.

 

6.3           
Existing Licenses and Obligations. There is no obligation imposed by a standards-setting organization to license any of
the Patents on particular terms or conditions. Except for the nonexclusive licenses which have expired listed in Exhibit
F, no licenses under the Patents have been granted or retained by Seller, any prior owner, or any inventor, and, after
Closing, none of Seller, any prior owner, or any inventor will retain any or rights interest in the Assigned Patent Rights. None
of the licenses or rights in the Patents listed on Exhibit F were an exclusive grant or right and, except as expressly
noted on Exhibit F, each such license were nontransferable and nonsublicensable.

 

6.4          Restrictions
on Rights. Purchaser will not be subject to any covenant not to sue or similar restrictions on its enforcement or enjoyment
of the Assigned Patent Rights or the Abandoned Assets as a result of any prior transaction related to the Assigned Patent Rights
or the Abandoned Assets.

 

6.5           Validity
and Enforceability. None of the Patents or the Abandoned Assets (other than Abandoned Assets for which abandonment resulted
solely from unpaid fees and/or annuities) has ever been found invalid, unpatentable, or unenforceable for any reason in any administrative,
arbitration, judicial or other proceeding, and Seller does not know of and has not received any notice or information of any
kind from any source suggesting that the Patents may be invalid, unpatentable, or unenforceable. If any of the Patents are terminally
disclaimed to another patent or patent application, all patents and patent applications subject to such terminal disclaimer are
included in this transaction. To the extent “small entity” fees were paid to the United States Patent and Trademark
Office for any Patent, such reduced fees were then appropriate because the payor qualified to pay “small entity” fees
at the time of such payment and specifically had not licensed rights in any of the Patents to an entity that was not a “small
entity.”

 

6.6           
Conduct. None of Seller, prior owner or their respective agents or representatives have engaged in any conduct, or omitted
to perform any necessary act, the result of which would invalidate any of the Patents or hinder their enforcement, including,
without limitation, misrepresenting the Patents to a standard-setting organization.

 

6. 7        
Enforcement. Seller has not put a third party on notice of actual or potential infringement of any of the Patents or the
Abandoned Assets. Seller has not invited any third party to enter into a license under any of the Patents or the Abandoned Assets.
Seller has not initiated any enforcement action with respect to any of the Patents or the Abandoned Assets.

 

6.8          
Patent Office Proceedings. None of the Patents or the Abandoned Assets has been or is currently involved in any reexamination,
reissue, interference proceeding, or any similar proceeding, and no such proceedings are pending or threatened.

 

6.9          
Fees. All maintenance fees, annuities, and the like due or payable on the Patents have been timely paid. For the avoidance
of doubt, such timely payment includes payment of any maintenance fees for which the fee is payable (e.g., the fee payment window
opens) even if the surcharge date or final deadline for payment of such fee would be in the future.

 

6.10        Abandoned
Assets. According to each applicable patent office, each of the Abandoned Assets has expired, lapsed, or been abandoned or
deemed withdrawn.

 

    	 

    	 

    

 

7.              Representations
and warranties of purchaser 

 

Purchaser hereby represents and warrants
to Seller as follows that, as of the Effective Date and as of the Closing:

 

7.1         
 Purchaser is a limited liability company duly formed, validly existing, and in good standing under the laws of the jurisdiction
of its formation.

 

7.2          Purchaser has all requisite
power and authority to (i) enter into, execute, and deliver this Agreement and (ii) perform fully its obligations hereunder.

 

8.             Miscellaneous

 

8.1           
Limitation of Liability. EXCEPT IN THE EVENT OF BREACH OF ANY OF THE PRIMARY WARRANTIES BY SELLER OR SELLER'S INTENTIONAL
MISREPRESENTATION, SELLER'S TOTAL LIABILITY UNDER THIS AGREEMENT WILL NOT EXCEED THE PURCHASE PRICE SET FORTH IN PARAGRAPH 3.4
OF THIS AGREEMENT. PURCHASER'S TOTAL LIABILITY UNDER THIS AGREEMENT WILL NOT EXCEED THE PURCHASE PRICE SET FORTH IN PARAGRAPH
3.4 OF THIS AGREEMENT. THE PARTIES ACKNOWLEDGE THAT THE LIMITATIONS ON POTENTIAL LIABILITIES SET FORTH IN THIS PARAGRAPH 8.1 WERE
AN ESSENTIAL ELEMENT IN SETTING CONSIDERATION UNDER THIS AGREEMENT.

 

8.2           
Limitation on Consequential Damages. EXCEPT IN THE EVENT OF SELLER'S INTENTIONAL MISREPRESENTATION, NEITHER PARTY WILL
HAVE ANY OBLIGATION OR LIABILITY (WHETHER IN CONTRACT, WARRANTY, TORT (INCLUDING NEGLIGENCE)) OR OTHERWISE, AND NOTWITHSTANDING
ANY FAULT, NEGLIGENCE (WHETHER ACTIVE, PASSIVE OR IMPUTED), REPRESENTATION, STRICT LIABILITY OR PRODUCT LIABILITY, FOR COVER
OR FOR ANY INCIDENTAL, INDIRECT OR CONSEQUENTIAL, MULTIPLIED, PUNITIVE, SPECIAL, OR EXEMPLARY DAMAGES OR LOSS OF REVENUE, PROFIT,
SAVINGS OR BUSINESS ARISING FROM OR OTHERWISE RELATED TO THIS AGREEMENT, EVEN IF A PARTY OR ITS REPRESENTATIVES HAVE BEEN ADVISED
OF THE POSSIBILITY OF SUCH DAMAGES. THE PARTIES ACKNOWLEDGE THAT THESE EXCLUSIONS OF POTENTIAL DAMAGES WERE AN ESSENTIAL ELEMENT
IN SETTING CONSIDERATION UNDER THIS AGREEMENT.

 

8.3           
Compliance With Laws. Notwithstanding anything contained in this Agreement to the contrary, the obligations of the parties
with respect to the consummation of the transactions contemplated by this Agreement shall be subject to all laws, present and
future, of any government having jurisdiction over the parties and this transaction, and to orders, regulations, directions or
requests of any such government.

 

8.4           
Confidentiality of Terms. The parties hereto will keep the terms and existence of this Agreement and the identities of
the parties hereto and their affiliates confidential and will not now or hereafter divulge any of this information to any third
party except (a) with the prior written consent of the other party; (b) as otherwise may be required by law or legal process;
(c) during the course of litigation, so long as the disclosure of such terms and conditions is restricted in the same manner as
is the confidential information of other litigating parties; (d) in confidence to its legal counsel, accountants, banks, and financing
sources and their advisors solely in connection with complying with or administering its obligations with respect to this Agreement;
(e) by Purchaser, to potential purchasers or licensees of the Assigned Patent Rights or the Abandoned Assets; (f) in order to
perfect Purchaser's interest in the Assigned Patent Rights or the Abandoned Assets with any governmental patent office (including,
without limitation, recording the Executed Assignments in any governmental patent office); or (g) to enforce Purchaser's right,
title, and interest in and to the Assigned Patent Rights or the Abandoned Assets; provided that, in (b) and (c) above, (i) to
the extent permitted by law, the disclosing party will use all legitimate and legal means available to minimize the disclosure
to third parties, including, without limitation, seeking a confidential treatment request or protective order whenever appropriate
or available; and (ii) the disclosing party will provide the other party with at least ten (10) days' prior written notice of
such disclosure. Without limiting the foregoing, Seller will cause its agents involved in this transaction to abide by the terms
of this paragraph, including, without limitation, ensuring that such agents do not disclose or otherwise publicize the existence
of this transaction with actual or potential clients in marketing materials, or industry conferences.

 

    	 

    	 

    

 

8.5           
Governing Law; Venue/Jurisdiction. This Agreement will be interpreted, construed, and enforced in all respects in accordance
with the laws of the State of Delaware, without reference to its choice of law principles to the contrary. Seller will not commence
or prosecute any action, suit, proceeding or claim arising under or by reason of this Agreement other than in the state or federal
courts located in Delaware. Seller irrevocably consents to the jurisdiction and venue of the courts identified in the preceding
sentence in connection with any action, suit, proceeding, or claim arising under or by reason of this Agreement.

 

8.6           
Notices. All notices given hereunder will be given in writing (in English or with an English translation), will refer to
Purchaser and to this Agreement and will be delivered to the address set forth below by (i) personal delivery, (ii) delivery postage
prepaid by an internationally-recognized express courier service:

 

	If to Purchaser	If to Seller
	Olantra Fund X L.L.C.	CUI Global, Inc. 
	2711 Centerville Rd, Suite 400	20050 SW 112th
    Avenue 
	Wilmington, DE 19808	Tualatin, OR 97062 
	 	 
	Attn: Managing Director	Attn : William Clough, Esq. 

 

Notices are deemed given on (a)
the date of receipt if delivered personally or by express courier or (b) if delivery is refused, the date of refusal. Notice given
in any other manner will be deemed to have been given only if and when received at the address of the person to be notified. Either
party may from time to time change its address for notices under this Agreement by giving the other party written notice of such
change in accordance with this paragraph.

 

8.7       
Relationship of Parties. The parties hereto are independent contractors. Nothing in this Agreement will be construed to
create a partnership, joint venture, franchise, fiduciary, employment or agency relationship between the parties. Neither party
has any express or implied authority to assume or create any obligations on behalf of the other or to bind the other to any contract,
agreement or undertaking with any third party.

 

8.8           
Equitable Relief. Seller acknowledges and agrees that damages alone would be insufficient to compensate Purchaser for a
breach by Seller of this Agreement and that irreparable harm would result from a breach of this Agreement. Seller hereby consents
to the entering of an order for injunctive relief to prevent a breach or further breach, and the entering of an order for specific
performance to compel performance of any obligations under this Agreement.

 

    	 

    	 

    

 

8.9           
Severability. If any provision of this Agreement is found to be invalid or unenforceable, then the remainder of this Agreement
will have full force and effect, and the invalid provision will be modified, or partially enforced, to the maximum extent permitted
to effectuate the original objective.

 

8.10        Waiver.
Failure by either party to enforce any term of this Agreement will not be deemed a waiver of future enforcement of that or any
other term in this Agreement or any other agreement that may be in place between the parties.

 

8.11
       Miscellaneous. This Agreement, including its exhibits, constitutes the entire agreement between the parties with respect to the subject matter hereof and merges and supersedes all prior and contemporaneous
agreements, understandings, negotiations, and discussions. Neither of the parties will be bound by any conditions, definitions,
warranties, understandings, or representations with respect to the subject matter hereof other than as expressly provided herein.
The section headings contained in this Agreement are for reference purposes only and will not affect in any way the meaning or
interpretation of this Agreement. This Agreement is not intended to confer any right or benefit on any third party (including,
but not limited to, any employee or beneficiary of any party), and no action may be commenced or prosecuted against a party by
any third party claiming as a third-party beneficiary of this Agreement or any of the transactions contemplated by this Agreement.
No oral explanation or oral information by either party hereto will alter the meaning or interpretation of this Agreement. No
amendments or modifications will be effective unless in a writing signed by authorized representatives of both parties. The
terms and conditions of this Agreement will prevail notwithstanding any different, conflicting or additional terms and conditions
that may appear on any letter, email or other communication or other writing not expressly incorporated into this Agreement. The
following exhibits are attached hereto and incorporated herein: Exhibit A (entitled “Patents to be Assigned”);
Exhibit B (entitled “Assignment of Patent Rights”); Exhibit c
(entitled “Assignment of Rights in Certain Assets”);
Exhibit D (entitled “List of Initial Deliverables”); Exhibit E (entitled “Common Interest
Agreement”); Exhibit F (entitled “Prior Licenses”); and Exhibit G (entitled “Press
Release”). 

 

8.12         
Counterparts; Electronic Signature; Delivery Mechanics. This Agreement may be executed in counterparts, each of which will
be deemed an original, and all of which together constitute one and the same instrument. Each party will execute and promptly
deliver to the other parties a copy of this Agreement bearing the original signature. Prior to such delivery, in order to expedite
the process of entering into this Agreement, the parties acknowledge that a Transmitted Copy of this Agreement will be deemed
an original document. “Transmitted Copy” means a copy bearing a signature of a party that is reproduced
or transmitted via email of a .pdf file, photocopy, facsimile, or other process of complete and accurate reproduction and transmission.

 

8.13         
Publicity and SEC Reporting. Seller may make one public announcement contemporaneously with signing and with the Closing,
which announcements will be substantially of the form set forth in Exhibit G. Seller shall submit any such proposed
announcement to Purchaser at least five (5) business days prior to its making such an announcement for Purchaser's review and
approval, which approval shall not be unreasonably withheld by Purchaser so long as such proposed announcement substantially conforms
to Exhibit G. After the Effective Date, Seller shall have the right to file the statement set forth on Exhibit
G with Seller's 8K filing with the Securities Exchange Commission (“SEC”). Seller
and Purchaser agree that Seller shall not file this Agreement with the SEC unless the SEC informs Seller in writing that Seller
is required by law to file this Agreement with the SEC. If Seller receives such notice from the SEC, then Seller will include
only those portions of this Agreement that are required to be filed with the SEC pursuant to applicable laws and regulations.

 

    	 

    	 

    

 

In witness whereof, intending
to be legally bound, the parties have executed this Patent Purchase Agreement as of the Effective Date.

 

	SELLER:	 	PURCHASER:
	 	 	 	 
	CUI GLOBAL, INC.	 	OLANTRA FUND X L.L.C.
	 	 	 	 
	By:	/s/ William Clough	 	By:	/s/ Melissa
    Coleman
	 	 	 	 
	Name:	William Clough	 	Name: Melissa Coleman
	 	 	 	 
	Title:	President & CEO	 	Title: Authorized Person

 

Effective Date: September 2, 2011

 

    	 

    	 

    

 

Exhibit A

PATENTS TO BE ASSIGNED 

 

	 	 	 	 	 	 	Title of Patent and First
	Patent or Application No.	 	Country	 	Filing Date	 	Named Inventor
	7,105,858	 	us	 	07/23/2003	 	Electronic assembly/system with reduced cost, mass, and volume and increased efficiency and power density
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	7,144,748	 	us	 	11/28/2003	 	Electronic assembly/system with reduced cost, mass, and volume and increased efficiency and power density
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	7,579,218	 	us	 	10/30/2006	 	Electronic assembly/system with reduced cost, mass, and volume and increased efficiency and power density
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	AU268121	 	AU.	 	08/20/2003	 	Electronic assembly/system with reduced cost, mass, and volume and increased efficiency and power density
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	CA2497583.	 	CA.	 	08/20/2003	 	Electronic assembly/system with reduced cost, mass, and volume and increased efficiency and power density
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	CN03822904.8	 	CN	 	08/20/2003	 	Electronic assembly/system with reduced cost, mass, and volume and increased efficiency and power density
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	EP03749072.9	 	EP	 	08/20/2003	 	Electronic assembly/system with reduced cost, mass, and volume and increased efficiency and power density
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich

 

    	 

    	 

    

 

	 	 	 	 	 	 	Title of Patent and First
	Patent or Application No.	 	Country	 	Filing Date	 	Named Inventor
	JP2004-531071	 	JP	 	08/20/2003	 	Electronic assembly/system with reduced cost, mass, and volume and increased efficiency and power density
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	MXPA05002l24	 	MX	 	02/23/2005	 	Electronic assembly/system with reduced cost, mass, and volume and increased efficiency and power density.
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	7,599,626	 	us	 	12/20/2005	 	Communication systems incorporating control meshes
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	7,219,715	 	us	 	12/20/2005	 	Cooling systems incorporating heat transfer meshes
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	7,694,722	 	us	 	12/01/2006	 	Cooling systems incorporating heat transfer meshes
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	7,407,306	 	us	 	02/10/2006	 	Aerodynamic lighted display panel
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Jeffrey L. Demarb
	7,315,049	 	us	 	10/04/2006	 	Led assembly with vented circuit board
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Nilesh T Desai
	11/861,810	 	us	 	09/26/2007	 	Sealed self-contained fluidic cooling device
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Franz Michael Schuette
	AU2005322254	 	AU	 	12/21/2005	 	Cooling systems incorporating heat transfer meshes
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	CA2574862	 	CA	 	12/21/2005	 	Cooling systems incorporating heat transfer meshes
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich

 

    	 

    	 

    

 

	 	 	 	 	 	 	Title of Patent and First
	Patent or Application No.	 	Country	 	Filing Date	 	Named Inventor
	CN200580030148.9	 	CN	 	12/21/2005	 	Cooling systems incorporating heat transfer meshes
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	JP2007-548386	 	JP	 	12/21/2005	 	Cooling systems incorporating heat transfer meshes
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	KR10-2007-7005594	 	KR	 	03/09/2007	 	Cooling systems incorporating heat transfer meshes
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	MX2007002798	 	MX	 	03/07/2007	 	Cooling systems incorporating heat transfer meshes.
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	12/214,139	 	us	 	06/17/2008	 	Method and apparatus for cooling of solar power cells
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Franz Michael Schuette
	PCT/US2009/003267	 	WO	 	05/29/2009	 	Method and apparatus for cooling of solar power cells
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Franz Michael Schuette
	12/291,983	 	us	 	11/17/2008	 	Carbon-based waterlock with attached heat-exchanger for cooling of electronic devices
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Stanley Robinson
	7,905,276	 	us	 	02/07/2007	 	Method and apparatus for leak-proof mounting of a liquid cooling device on an integrated circuit
	 	 	 	 	 	 	 
	 	 	 	 	 	 	William J. Clough
	TW096104906	 	TW	 	02/09/2007	 	Method and apparatus for leak-proof mounting of a liquid cooling device on an integrated circuit
	 	 	 	 	 	 	 
	 	 	 	 	 	 	William J. Clough
	11/941,550	 	us	 	11/16/2007	 	Cooling device for an electronic component
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Franz Michael Schuette

 

    	 

    	 

    

 

	 	 	 	 	 	 	Title of Patent and First
	Patent or Application No.	 	Country	 	Filing Date	 	Named Inventor
	HKl109654	 	HK	 	12/21/2005	 	Cooling systems incorporating heat transfer meshes
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John Popovich
	MX272939	 	MX	 	12/21/2005	 	Cooling systems incorporating heat transfer meshes
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John Popovich
	HK05110293.8	 	HK	 	08/20/2003	 	Electronic assembly/system with reduced cost, mass, and volume and increased efficiency and power density
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	MX254307	 	MX	 	08/20/2003	 	Electronic assembly/system with reduced cost, mass, and volume and increased efficiency and power density
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	7,956,278	 	us	 	06/25/2007	 	Solar heat transfer apparatus
	 	 	 	 	 	 	John M. Popovich
	12/012,654	 	us	 	02/05/2008	 	Carbon-based waterblock with attached heat exchanger for cooling of electronic devices
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Stanley Robinson
	11/810,675	 	us	 	06/07/2007	 	Wireless addressing and control of leds in large scale led displays (wireless)
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Unable to verify

 

    	 

    	 

    

 

Exhibit B

 

ASSIGNMENT OF
PATENT RIGHTS

 

For good and valuable consideration, the
receipt of which is hereby acknowledged, CUI Global, Inc., a Colorado corporation, with an office at 20050 SW 112th
Avenue, Tualatin, OR 97062 (“Assignor”), does hereby sell, assign, transfer, and convey unto Olantra
Fund X L.L.C., a Delaware limited liability company, having an address at 2711 Centerville Rd, Suite 400, Wilmington, DE 19808
(“Assignee”), or its designees, all right, title, and interest that exist today and may exist in the future
in and to any and all of the following (collectively, the “Patent Rights”): 

 

(a)         the
provisional patent applications, patent applications and patents listed in the table below (the “Patents”);

 

	 	 	 	 	 	 	Title of Patent and First
	Patent or Application No.	 	Country	 	Filing Date	 	Named Inventor
	7,105,858	 	us	 	07/23/2003	 	Electronic assembly/system with reduced cost, mass, and volume and increased efficiency and power density
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	7,144,748	 	us	 	11/28/2003	 	Electronic assembly/system with reduced cost, mass, and volume and increased efficiency and power density
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	7,579,218	 	us	 	10/30/2006	 	Electronic assembly/system with reduced cost, mass, and volume and increased efficiency and power density
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	AU268121	 	AU	 	08/20/2003	 	Electronic assembly/system with reduced cost, mass, and volume and increased efficiency and power density
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	CA2497583	 	CA	 	08/20/2003	 	Electronic assembly/system with reduced cost, mass, and volume and increased efficiency and power density
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich

 

    	 

    	 

    

 

	 	 	 	 	 	 	Title of Patent and First
	Patent or Application No.	 	Country	 	Filing Date	 	Named Inventor
	CN03822904.8	 	CN	 	08/20/2003	 	Electronic assembly/system with reduced cost, mass, and volume and increased efficiency and power density
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	EP03749072.9	 	EP	 	08/20/2003	 	Electronic assembly/system with reduced cost, mass, and volume and increased efficiency and power density
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	JP2004-531071	 	JP	 	08/20/2003	 	Electronic assembly/system with reduced cost, mass, and volume and increased efficiency and power density
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	MXPA05002124	 	MX	 	02/23/2005	 	Electronic assembly/system with reduced cost, mass, and volume and increased efficiency and power density.
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	7,599,626	 	us	 	12/20/2005	 	Communication systems incorporating control meshes
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	7,219,715	 	us	 	12/20/2005	 	Cooling systems incorporating heat transfer meshes
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	7,694,722	 	us	 	12/01/2006	 	Cooling systems incorporating heat transfer meshes
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	7,407,306	 	us	 	02/10/2006	 	Aerodynamic lighted display panel
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Jeffrey L. Demarb
	7,315,049	 	us	 	10/04/2006	 	Led assembly with vented circuit board
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Nilesh T Desai

 

    	 

    	 

    

 

	 	 	 	 	 	 	Title of Patent and First
	Patent or Application No.	 	Country	 	Filing Date	 	Named Inventor
	11/861,810	 	us	 	09/26/2007	 	Sealed self-contained fluidic cooling device
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Franz Michael Schuette
	AU2005322254	 	AU	 	12/21/2005	 	Cooling systems incorporating heat transfer meshes
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	CA2574862	 	CA	 	12/21/2005	 	Cooling systems incorporating heat transfer meshes
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	CN200580030148.9	 	CN	 	12/21/2005	 	Cooling systems incorporating heat transfer meshes
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	JP2007-548386	 	JP	 	12/21/2005	 	Cooling systems incorporating heat transfer meshes
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	KR 10-2007-7005594	 	KR	 	03/09/2007	 	Cooling systems incorporating heat transfer meshes
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	MX2007002798	 	MX	 	03/07/2007	 	Cooling systems incorporating heat transfer meshes.
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	12/214,139	 	us	 	06/17/2008	 	Method and apparatus for cooling of solar power cells
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Franz Michael Schuette
	PCT/US2009/003267	 	WO	 	05/29/2009	 	Method and apparatus for cooling of solar power cells
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Franz Michael Schuette
	12/291,983	 	us	 	11/17/2008	 	Carbon-based waterlock with attached heat-exchanger for cooling of electronic devices
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Stanley Robinson

 

    	 

    	 

    

 

	 	 	 	 	 	 	Title of Patent and First
	Patent or Application No.	 	Country	 	Filing Date	 	Named Inventor
	7,905,276	 	us	 	02/07/2007	 	Method and apparatus for leak-proof mounting of a liquid cooling device on an integrated circuit
	 	 	 	 	 	 	 
	 	 	 	 	 	 	William J. Clough
	TW096104906	 	TW	 	02/09/2007	 	Method and apparatus for leak-proof mounting of a liquid cooling device on an integrated circuit
	 	 	 	 	 	 	 
	 	 	 	 	 	 	William J. Clough
	l l/941,550	 	us	 	11/16/2007	 	Cooling device for an electronic component
	 	 	 	 	 	 	Franz Michael Schuette
	HK1109654	 	HK	 	12/21/2005	 	Cooling systems incorporating heat transfer meshes
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John Popovich
	MX272939	 	MX	 	12/21/2005	 	Cooling systems incorporating heat transfer meshes
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John Popovich
	HK05110293.8	 	HK	 	08/20/2003	 	Electronic assembly/system with reduced cost, mass, and volume and increased efficiency and power density
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	MX254307	 	MX	 	08/20/2003	 	Electronic assembly/system with reduced cost, mass, and volume and increased efficiency and power density
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	7,956,278	 	us	 	06/25/2007	 	Solar heat transfer apparatus
	 	 	 	 	 	 	John M. Popovich
	12/012,654	 	us	 	02/05/2008	 	Carbon-based waterblock with attached heat exchanger for cooling of electronic dev ices
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Stanley Robinson

 

    	 

    	 

    

 

	 	 	 	 	 	 	Title of Patent
    and First
	Patent
    or Application No.	 	Country	 	Filing
    Date	 	Named
    Inventor
	11/810,675	 	us	 	06/07/2007	 	Wireless addressing and control
    of leds in large scale led displays (wireless)
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Unable to verify

 

(b)        all patents and patent
applications (i) to which any of the Patents directly or indirectly claims priority, (ii) for which any of the Patents directly
or indirectly forms a basis for priority, and/or (iii) that were co-owned applications that incorporate by reference, or are incorporated
by reference into, the Patents;

 

(c)        all reissues, reexaminations,
extensions, continuations, continuations in part, continuing prosecution applications, requests for continuing examinations, divisions,
registrations of any item in any of the foregoing categories (a) and (b);

 

(d)         all foreign patents,
patent applications, and counterparts relating to any item in any of the foregoing categories (a) through (c), including, without
limitation, certificates of invention, utility models, industrial design protection, design patent protection, and other governmental
grants or issuances;

 

(e)         all items in any of
the foregoing in categories (b) through (d), whether or not expressly listed as Patents below and whether or not claims in any
of the foregoing have been rejected, withdrawn, cancelled, or the like;

 

(f)         inventions, invention
disclosures, and discoveries described in any of the Patents and/or any item in the foregoing categories (b) through (e) that (i)
are included in any claim in the Patents and/or any item in the foregoing categories (b) through (e), (ii) are subject matter capable
of being reduced to a patent claim in a reissue or reexamination proceeding brought on any of the Patents and/or any item in the
foregoing categories (b) through (e), and/or (iii) could have been included as a claim in any of the Patents and/or any item in
the foregoing categories (b) through (e);

 

(g)         all rights to apply
in any or all countries of the world for patents, certificates of invention, utility models, industrial design protections, design
patent protections, or other governmental grants or issuances of any type related to any item in any of the foregoing categories
(a) through (f), including, without limitation, under the Paris Convention for the Protection of Industrial Property, the International
Patent Cooperation Treaty, or any other convention, treaty, agreement, or understanding;

 

(h)         all causes of action (whether known or unknown or whether currently pending, filed, or otherwise) and other enforcement rights
under, or on account of, any of the

 

    	 

    	 

    

 

Patents and/or any item in any of the foregoing categories
(b) through (g), including, without limitation, all causes of action and other enforcement rights for 

(1)         
damages,

(2)         
injunctive relief, and

(3)         
any other remedies of any kind

 

for past, current, and future infringement; and

 

(i)          
all rights to collect royalties and other payments under or on account of any of the Patents and/or any item in any of the foregoing
categories (b) through (h).

 

Assignor represents, warrants and covenants that:

 

(1)        Assignor has the full
power and authority, and has obtained all third party consents, approvals and/or other authorizations required to enter into this
Agreement and to carry out its obligations hereunder, including the assignment of the Patent Rights to Assignee; and

 

(2)         Assignor owns, and by this document
assigns to Assignee, all right, title, and interest to the Patent Rights, including, without limitation, all right, title, and
interest to sue for infringement of the Patent Rights. Assignor has obtained and properly recorded previously executed assignments
for the Patent Rights as necessary to fully perfect its rights and title therein in accordance with governing law and regulations
in each respective jurisdiction. The Patent Rights are free and clear of all liens, claims, mortgages, security interests or other
encumbrances, and restrictions. There are no actions, suits, investigations, claims or proceedings threatened, pending or in progress
relating in any way to the Patent Rights. There are no existing contracts, agreements, options, commitments, proposals, bids, offers,
or rights with, to, or in any person to acquire any of the Patent Rights.

 

Assignor hereby authorizes the
respective patent office or governmental agency in each jurisdiction to issue any and all patents, certificates of invention, utility
models or other governmental grants or issuances that may be granted upon any of the Patent Rights in the name of Assignee, as
the assignee to the entire interest therein.

 

Assignor will, at the reasonable
request of Assignee and without demanding any further consideration therefore, do all things necessary, proper, or advisable, including
without limitation, the execution, acknowledgment, and recordation of specific assignments, oaths, declarations, and other documents
on a country-by-country basis, to assist Assignee in obtaining, perfecting, sustaining, and/or enforcing the Patent Rights.

 

The terms
and conditions of this Assignment of Patent Rights will inure to the benefit of Assignee, its successors, assigns, and other legal
representatives and will be binding upon Assignor, its successors, assigns, and other legal representatives.

 

    	 

    	 

    

 

IN
WITNESS WHEREOF this Assignment of Patent Rights is executed at  Tualatin, OR on September 2, 2011.

 

	ASSIGNOR:
	 
	CUI Global, Inc.

 

	By:	/s/ William Clough	 
	Name:	William Clough	 
	Title:	President & CEO	 

(Signature MUST be attested)

 

ATTESTATION OF SIGNATURE PURSUANT TO 28 U.S.C.
§ 1746 

 

The undersigned witnessed the signature
of                           
to the above Assignment of Patent Rights on behalf of CUI Global, Inc. and makes the following statements:

 

1.
        I am over the age of 18 and competent to testify as
to the facts in this Attestation block if called upon to do so.

 

2.
                          
is personally known to me (or proved to me on the basis of satisfactory evidence) and appeared before me on                             , 20_ to
execute the above Assignment of Patent Rights on behalf of CUI Global, Inc. 

 

3.                                             
subscribed to the above Assignment of Patent Rights on behalf of CUI Global, Inc. 

 

I declare
under penalty of perjury under the laws of the United States of America that the statements made in the three (3) numbered paragraphs
immediately above are true and correct.

 

	EXECUTED on                                        	 (date)

 

	 	 
	Print Name:                                                      	 

 

    	 

    	 

    

 

Exhibit C 

 

ASSIGNMENT OF
RIGHTS IN CERTAIN ASSETS

 

For good and valuable consideration, the
receipt of which is hereby acknowledged, CUI Global, Inc., a Colorado corporation, with an office at 20050 SW 112th
Avenue, Tualatin, OR 97062 ("Assignor"), does hereby sell, assign, transfer, and convey unto Olantra Fund
X L.L.C., a Delaware limited liability company, having an address at 2711 Centerville Rd, Suite 400, Wilmington, DE 19808 ("Assignee"),
or its designees, the right, title, and interest in and to any and all of the following provisional patent applications, patent
applications, patents, and other governmental grants or issuances of any kind (the "Certain Assets"): 

 

	 	 	 	 	 	 	Title of Patent and First
	Patent or Application No.	 	Country	 	Filing Date	 	Named Inventor
	60/405,826	 	us	 	01/01/1900	 	Electronic assembly/system with reduced cost, mass, & volume & increased efficient power density
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	KR10-2005-7003342	 	KR	 	02/25/2005	 	Electronic assembly/system with reduced cost, mass, and volume and increased efficiency and power density
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	PCT/US2003/0259l3	 	WO	 	08/20/2003	 	Electronic assembly/system with reduced cost, mass, and volume and increased efficiency and power density
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	60/641,423	 	us	 	01/01/1900	 	High power density heat transport system
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	60/651,204	 	us	 	01/01/1900	 	Aerodynamic lighted display panel
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Vladimir Volochine
	PCT/US2006/004615	 	WO	 	02/10/2006	 	Aerodynamic lighted display panel
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Jeffrey L. Demarb
	7,138,659	 	us	 	05/18/2004	 	Led assembly with vented circuit board
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Nilesh Thakor Desai
	11/538,769	 	us	 	10/04/2006	 	Led assembly with vented circuit board
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Nilesh Thakor Desai

 

    	 

    	 

    

 

	 	 	 	 	 	 	Title of Patent and First
	Patent or Application No.	 	Country	 	Filing Date	 	Named Inventor
	11/538,779	 	us	 	10/04/2006	 	Led assembly with vented circuit board
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Nilesh Thakor Desai
	11/538,790	 	us	 	10/04/2006	 	Led assembly with vented circuit board
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Nilesh Thakor Desai
	PCT/US2005/009302	 	WO	 	03/17/2005	 	Led assembly with vented circuit board
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Nilesh Thakor Desai
	60/826,939	 	us	 	01/01/1900	 	Fully-sealed, self-contained liquid cooling apparatus containing screens for heat transfer and optional pump for fluid movement
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Franz Michael Schuette
	60/638,809	 	us	 	01/01/1900	 	Means of heat transport & electrical interconnection
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	EP05854760.5	 	EP	 	12/21/2005	 	Cooling systems incorporating heat transfer meshes
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	PCT/US2005/046099	 	WO	 	12/21/2005	 	Cooling systems incorporating heat transfer meshes
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	PCT/US2005/046841	 	WO	 	12/21/2005	 	Communication systems incorporating control meshes
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	60/641,399	 	us	 	01/01/1900	 	Opto electronic system including novel electrical, optical, thermal, mechanical, and
    structural sub-systems
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John M. Popovich
	61/005,012	 	us	 	12/03/2007	 	Carbon-based waterblock with attached heat-exchanger for cooling of electronic devices
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Stanley Robinson

 

    	 

    	 

    

 

	 	 	 	 	 	 	Title of Patent and First
	Patent or Application No.	 	Country	 	Filing Date	 	Named Inventor
	PCT/US2008/013265	 	WO	 	12/02/2008	 	Carbon-based waterblock with attached heat-exchanger for cooling of electronic devices
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Stanley Robinson
	60/771,429	 	us	 	02/09/2006	 	Method and apparatus for leak-proof mounting of a liquid cooling dev ice on an integrated circuit
	 	 	 	 	 	 	 
	 	 	 	 	 	 	William J. Clough
	PCT/US2007/003336	 	WO	 	02/07/2007	 	Method and apparatus for leak-proof mounting of a liquid cooling device on an integrated circuit
	 	 	 	 	 	 	 
	 	 	 	 	 	 	William J. Clough
	11/871,498	 	us	 	10/12/2007	 	Circuit board assemblies with combined fluid-containing heatspreader-ground plane and methods therefor
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Franz Michael Schuette
	60/829,325	 	us	 	10/13/2006	 	Embedded foil-screen-foil containing fluid as combined cooling device and ground plane in printed circuit boards
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Franz Michael Schuette
	60/866,140	 	us	 	11/16/2006	 	Fractal liquid cooling channels in a heat spreader with optional pump and meshes for heat transfer
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Franz Michael Schuette
	60/918,449	 	us	 	03/15/2007	 	Concentric tube heat spreader
	 	 	 	 	 	 	 
	 	 	 	 	 	 	John Michael Popovich
	60/900,111	 	us	 	02/08/2007	 	Carbon-based waterblock with attached heat-exchanger for cooling of electronic devices
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Stanley Robinson
	PCT/US2008/001540	 	WO	 	02/06/2008	 	Carbon-based waterblock with attached heat-exchanger for cooling of electronic devices

 

    	 

    	 

    

 

	 	 	 	 	 	 	Title of Patent
    and First
	Patent
    or Application No.	 	Country	 	Filing
    Date	 	Named
    Inventor
	 	 	 	 	 	 	Stanley Robinson
	60/818,190	 	us	 	06/30/2006	 	Wireless addressing and control
    of leds in large scale led displays (wireless)
	 	 	 	 	 	 	 
	 	 	 	 	 	 	Unable to verify

 

Assignor assigns to Assignee all rights
to the inventions, invention disclosures, and discoveries in the assets listed above, together, with the rights, if any, to revive
prosecution of claims under such assets and to sue or otherwise enforce any claims under such assets for past, present or future
infringement.

 

Assignor hereby authorizes the
respective patent office or governmental agency in each jurisdiction to make available to Assignee all records regarding the Certain
Assets.

 

The terms and conditions of
this Assignment of Rights in Certain Assets will inure to the benefit of Assignee, its successors, assigns, and other legal representatives
and will be binding upon Assignor, its successors, assigns, and other legal representatives.

 

DATED this 2
day of September 2011.

  

	ASSIGNOR:
	 
	CUI Global. Inc.

 

	By:	/s/ William Clough	 
	Name:	William Clough	 
	Title:	PRESIDET & CEO	 

 

    	 

    	 

    

 

Exhibit D

 

LIST OF INITIAL DELIVERABLES

 

Seller will cause the following to be delivered to Purchaser,
or Purchaser's representative, within the time provided in paragraph 3.1 of the attached Patent Purchase Agreement:

 

(a)        
U.S. Patents. For each item of the Patents that is an issued United States patent, and for each Abandoned Asset
that forms the basis for priority for such issued U.S. patent (whether a patent or similar protection has been issued or granted),

 

(i) the original

 

(A) ribbon copy issued by the United States Patent
and Trademark Office,

(B) Assignment Agreement(s),

(C) conception and reduction to practice materials,
and

 

(ii) a copy of

(A) the Docket,

(B) each relevant license and security agreement;

 

(b)        
Non-U.S. for each Live Asset for which a non-United States patent or similar protection has been issued or granted,

 

		(i)	the original ribbon copy or certificate issued by the applicable government, if available

		(ii)	copy of each pending foreign application

		(iii)	the Docket,

		(iv)	the original Assignment Agreement(s),

		(v)	a copy of applicant name change, if necessary, and

		(vi)	a copy of each relevant license and security agreement;

 

(c)        
Patent Applications. For each item of the Patents that is a patent application,

 

		(i)	a copy of the patent application, as filed,

		(ii)	if unpublished, a copy of the filing receipt and the non-publication request, if available,

		(iii)	the original Assignment Agreement(s),

		(iv)	the Docket,

		(v)	all available conception and reduction to practice materials,

		(vi)	evidence of foreign filing license (or denial thereof),

		(vii)	a copy of each relevant license and security agreement, and

		(viii)	the Prosecution History Files;

 

(d)        
Common Interest Agreement. Seller will deliver any Initial Deliverables to be delivered by Seller under paragraph (c)
above to Purchaser's legal counsel, together with two (2) executed originals of the Common Interest Agreement,

 

(e)        
Thorough Search/Declaration. If originals of the
Initial Deliverables are not available and delivered to Purchaser prior to Closing, Seller will cause (i) such originals of
the Initial Deliverables to be sent to Purchaser or Purchaser's representative promptly if and after such originals are
located and (ii) an appropriate executive officer of Seller to deliver to Purchaser a declaration, executed by such officer
under penalty of perjury, detailing Seller's efforts to locate such unavailable original documents and details regarding how
delivered copies were obtained.

 

Capitalized terms used in this Exhibit D are defined
in the Patent Purchase Agreement to which this Exhibit D is attached.

 

    	 

    	 

    

 

Exhibit E

 

COMMON INTEREST AGREEMENT

 

THIS
COMMON INTEREST AGREEMENT ("Agreement") is entered into between the undersigned legal counsel ("Counsel"),
for themselves and on behalf of the parties they represent (as indicated below).

 

		1	Background.

1.1         Olantra
Fund X L.L.C., a Delaware limited liability company ("Purchaser") and CUI Global, Inc., a Colorado company ("Seller")
(Purchaser and Seller are sometimes hereafter referred to herein as a "party" or the "parties"),
have entered into an agreement under which Purchaser will acquire all substantial rights of Seller in
certain patent applications filed or to be filed throughout the world (the "Patent Matters”).

 

1.2         The parties have a common interest in the Patent Matters and have agreed to treat their communications and those of their Counsel
relating to the Patent Matters as protected by the common interest privilege. Furtherance of the Patent Matters requires the exchange
of proprietary documents and in formation, the joint development of legal strategies and the exchange of attorney work product
developed by the parties and their respective Counsel.

 

2.          Common
Interest.

2.1        The parties have a common, joint and mutual legal interest in cooperating with each other, to the extent permitted by law, to share
information protected by the attorney-client privilege and by the work product doctrine with respect to the Patent Matters. Any
counsel or consultant retained by a party or their Counsel to assist in the Patent Matters shall be bound by and entitled to the
benefits of, this Agreement.

 

2.2        In
order to further their common interest, the parties and their Counsel shall exchange privileged and work product information,
orally and in writing, including, without limitation, factual analyses, mental impressions, legal memoranda, source materials,
draft legal documents, prosecution history files and other information (hereinafter "Common Interest Materials").
The sole purpose for the exchange of the Common Interest Materials is to support the parties' common interest with respect to
the prosecution and enforcement of the Patent Matters. Any Common Interest Materials exchanged shall continue to be protected
under all applicable privileges and no such exchange shall constitute a waiver of any applicable privilege or protection.

 

3.          Nondisclosure.

3.1        The parties and their Counsel shall use the Common Interest Materials solely in connection with the Patent Matters and shall take
appropriate steps to protect the privileged and confidential nature of the Common Interest Materials. Neither party nor their respective
Counsel shall produce privileged documents or information unless or until directed to do so by a final order of a court of competent
jurisdiction, or upon the prior written consent of the other party. No privilege or objection shall be waived by a party hereunder
without the prior written consent of the other party. The obligations under this paragraph will not apply either to Purchaser after
closing of the acquisition of the Patent Matters or to Seller with respect to any dispute with Purchaser related to such potential
acquisition.

 

3.2         Except
as herein provided. in the event that either party or their Counsel is requested or required in the context of a litigation, governmental,
judicial or regulatory investigation or other similar proceedings (by oral questions, interrogatories, requests for information
or documents, subpoenas, civil investigative demands or similar process) to disclose any Common Interest Materials, the party or
their Counsel shall immediately inform the other party and their Counsel and shall assert all applicable privileges, including,
without limitation, the common interest doctrine, the joint prosecution privilege.

 

4.          Relationship;
Additions; Termination.

4.1        This Agreement does not create any agency or similar relationship among the parties. Through the Closing (as
defined in the Patent Purchase Agreement executed by Purchaser
and Seller), neither party nor their respective Counsel has the authority to waive any applicable privilege or doctrine on behalf
of any other party.

 

4.2        Nothing in this Agreement affects the separate and independent representation of each party by its respective Counsel or creates
an attorney client relationship between the Counsel for a party and the other party to this Agreement.

 

4.3        This Agreement shall continue until terminated upon the written request of either party. Upon termination, each party and their
respective Counsel shall return any Common Interest Materials furnished by the other party. Notwithstanding termination, this Agreement
shall continue to protect all Common Interest Materials disclosed prior to termination. Sections 3 and 5 shall survive termination
of this Agreement.

 

5.       General
Terms.

5.1       This
Agreement is governed by the laws of the State of Delaware, without regard to its choice of law principles to the contrary. In
the event any provision of this Agreement is held by any court of competent jurisdiction to be illegal, void or unenforceable,
the remaining terms shall remain in effect. Failure of either party to enforce any provision of this Agreement shall not be deemed
a waiver of future enforcement of that or any other provision.

 

5.2        The parties agree that a breach of this Agreement would result in irreparable injury, that money damages would not be a sufficient
remedy and that the disclosing party shall be entitled to equitable relief, including injunctive relief, as a non-exclusive remedy
for any such breach.

 

5.3        Notices given under this Agreement shall be given in writing and delivered by messenger or overnight delivery service to a party
and their respective Counsel at their last known address. and shall be deemed to have been given on the day received.

 

5.4        This Agreement is effective and binding upon each party as of the date it is signed by or on behalf of a party and may be amended
only by a writing signed by or on behalf of each party. This Agreement may be executed in counterparts. Any signature reproduced
or transmitted via email of a .pdf file, photocopy, facsimile or other process of complete and accurate reproduction and transmission
shall be considered an original for purposes of this Agreement.

 

This Agreement is being executed by each of the undersigned
Counsel with the fully informed authority and consent of the respective party it

 

	Counsel for Olantra Fund X L.L.C.	Counsel for CUI Global, Inc.
	 	 
	By:                                           	By:                                          
	Date:                     	Date: 2 September 2011

 

    	 

    	 

    

 

Exhibit F

 

PRIOR LICENSES

 

		1)	Thermaltake

 

		2)	OCZ Technology 

 

    	 

    	 

    

 

Exhibit G

 

PRESS RELEASE 

 

After execution by both parties: 

 

[City,
State], [Date]/PRNewswire-FirstCall/ — CUI Global, Inc. announced today that it has signed an agreement to sell selected
patents and patent applications to Olantra Fund X L.L.C. for net proceeds of approximately $500,000, subject to customary closing
conditions. The patents and patent applications sold relate to CUI Global, Inc.'s                                       .

 

At Closing: 

 

[City,
State], [Date]/PRNewswire-FirstCall/ — CUI Global, Inc. announced today that it has completed the sale of selected patents
and patent applications to Olantra Fund X L.L.C. for net proceeds of approximately $500,000. The patents and patent applications
sold relate to CUI Global, Inc.'s                                          .

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