Document:

Unassociated Document

    AMENDMENT
      TO

    LICENSE
      AGREEMENT

    

    This
      FOURTH
      AMENDMENT TO THE LICENSE AGREEMENT (this
      “Amendment”),
      is
      made effective as of May 2, 2007 by and between The Johns Hopkins University,
      a
      corporation of the State of Maryland, having a principal place of business
      at
      3400 N. Charles Street, Baltimore, MD 21218-2695 (“JHU”),
      and
      EyeTel Imaging, Inc., a Delaware corporation (the “Company”)
      (each
      of JHU and the Company, a “Party”),
      having a principal place of business at 9130 Guilford Road, Columbia, MD
      21046.

    

    RECITALS

    

    The
      Parties have entered into that certain License Agreement between the Parties
      dated January 14, 1997, as further amended by a first letter amendment dated
      October 21, 1997, a second letter amendment dated June 2, 1999 and a third
      amendment dated May 5, 2004 (collectively, the “Agreement”),
      pursuant to which the Company has licensed certain intellectual property from
      JHU.

    

    The
      Parties desire to amend the Agreement as set forth herein.

    

    Capitalized
      terms used herein without definition shall have the meanings given to such
      terms
      in the Agreement.

    

    AGREEMENTS

    

    
      	 	
              1.

            	
              Exclusive
                Rights.
                The Parties acknowledge that the Company has elected not to pursue
                foreign
                patent applications with respect to the Patent Rights in Canada and
                the
                European Union, but the Parties agree that, notwithstanding anything
                to
                the contrary in Section 8.1 of the Agreement, the Company shall still
                have
                an Exclusive License in each such jurisdiction.

            

    

    

    
      	 	
              2.

            	
              Registration
                Rights.
                The Parties agree that any piggy back registration rights in favor
                of JHU
                referred to in the Agreement or the Stock Subscription Agreement
                are null
                and void. 

            

    

    

    
      	 	
              3.

            	
              Ratification.
                Except as otherwise modified by this Amendment, the provisions of
                the
                Agreement shall continue to be and remain in full force and
                effect.

            

    

    

    
      	 	
              4.

            	
              Counterparts.
                This Amendment may be executed in one or more counterparts (including
                by
                facsimile). Each such counterpart shall be deemed an original, and
                all of
                such counterparts together shall be one
                instrument.

            

    

    

    
      	 	
              5.

            	
              Governing
                Law.
                This Amendment shall be governed by and construed in accordance with
                the
                laws of the State of Maryland.

            

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    IN
      WITNESS WHEREOF,
      the
      parties hereto have caused this Amendment to be executed as of the date first
      set forth above.

     

    
      	 	 	 
	 	EYETEL
              IMAGING, INC.
	 
 	 
 	 
 
	
            	By:  	/s/ John
              C. Garbarino
	 	
              
Print
              Name: John C. Garbarino
	 	Title:
              President and Chief Executive Officer

    

    
       

      
        	 	 	 
	 	THE
                JOHNS HOPKINS UNIVERSITY
	 
 	 
 	 
 
	
              	By:  	/s/ Wesley
                D. Blakeslee
	 	
                
Print
                Name: Wesley D. Blakeslee
	 	Title:
                Executive DirectorUnassociated Document

    EXHIBIT
      10.4

    

    
      
        

          
            	
                    _______________CONFIDENTIAL
                      TREATMENT REQUESTED______________

                  
	 
	
                    CERTAIN
                      PORTIONS INDICATED BY [*****] HAVE BEEN OMITTED PURSUANT 
TO A REQUEST
                      FOR CONFIDENTIAL TREATMENT.

                  
	 
	
                    THE
                      OMITTED NON-PUBLIC PORTIONS HAVE BEEN FILED SEPARATELY WITH

THE
                      SECURITIES AND EXCHANGE COMMISSION.

                  
	 

          

        

      

       

    

    AMENDED
      AND RESTATED 

    EXCLUSIVE
      LICENSE AGREEMENT

    

    

    This
      Amended
      and Restated Exclusive License Agreement
      (this
“Agreement”) is made and entered into this April 30, 2007 by and between
EyeTel
      Imaging, Inc.,
      a
      Delaware corporation, with its principal offices at 9130 Guilford Road,
      Columbia, Maryland 21046 (“EyeTel”), and NeuroMetrix,
      Inc.,
      a
      Delaware corporation, with its principal offices at 62 Fourth Avenue,
      Waltham, Massachusetts 02451 (“NEUROMetrix”).

    

    WHEREAS,
      EyeTel manufactures and/or supplies certain products and services and seeks
      to
      engage NEUROMetrix on an exclusive basis to market such products and services
      in
      certain markets and territories;

    

    WHEREAS,
      NEUROMetrix markets products and services to certain markets and
      territories;

    

    WHEREAS,
      EyeTel and NEUROMetrix entered into an Exclusive License Agreement, dated as
      of
      October 24, 2006 (the “Effective Date”), pursuant to which EyeTel granted
      NEUROMetrix an exclusive license to market and sell in certain markets and
      territories certain products, services, accessories and related goods to be
      supplied to customers by EyeTel (the “Original Agreement”);

    

    WHEREAS,
      EyeTel and NEUROMetrix desire to amend and restate the terms and conditions
      of
      the Original Agreement as set forth herein;

    

    THEREFORE,
      in consideration of these premises and the mutual covenants, agreements,
      representations and warranties herein contained, and for good and valuable
      consideration, the receipt and sufficiency of which are hereby acknowledged,
      the
      parties, intending to be legally bound, hereby agree as follows:

    

    1. DEFINITIONS

    

    “Customer”
      means a Valid Prospect having entered into a Qualifying Customer Agreement
      and
      shall be deemed to include all Pre-Existing EyeTel Customers transferred to
      NEUROMetrix pursuant to Section 8.F.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    “EyeTel
      Change of Control” means that EyeTel entered into a transaction resulting in
      (A) the consolidation or merger of EyeTel and a NEUROMetrix Competitor
      following which the voting securities of EyeTel outstanding immediately prior
      to
      such merger or consolidation represent (either by remaining outstanding or
      by
      being converted into voting securities of the surviving entity) less than 50%
      of
      the combined voting power of the voting securities of the surviving entity
      outstanding immediately after such merger or consolidation or ceasing to have
      the power to elect at least a majority of the board of directors or other
      governing body of such surviving entity or (B) a NEUROMetrix Competitor
      becoming the beneficial owner (as such term is defined in Section 13d-3 under
      the Securities Exchange Act of 1934, as amended), directly or indirectly, of
      securities of EyeTel (or a successor of EyeTel) representing 50% or more of
      the
      combined voting power of EyeTel’s then outstanding voting securities.

    

    “EyeTel
      Competitor” means any Person that, as of the date of any NEUROMetrix Change of
      Control, manufactures or commercializes a commercial product that directly
      competes with a marketed EyeTel product.

    

    “EyeTel
      Services” means the Initial EyeTel Services and any New EyeTel Services that
      become subject to the terms of this Agreement in accordance with Section 4,
      including any and all improvements, extensions and/or upgrades to such EyeTel
      Services. A complete list of the services constituting EyeTel Services at any
      give time will be set forth on Exhibit A.

    

    “Initial
      EyeTel Services” means the EyeTel Services initially set forth on Exhibit A
      hereto
      as of the Effective Date, including any and all improvements, extensions and/or
      upgrades to such EyeTel Services. 

    

    “Initial
      Product” means EyeTel’s current product sold as the “DigiScope,” including any
      and all improvements, extensions and/or upgrades to such Product. For sake
      of
      clarity, nothing in this Agreement requires EyeTel to provide any improvements,
      extensions and/or upgrades for any particular Initial Product to existing
      Customers without further payment as agreed upon by the parties.

    

    “NEUROMetrix
      Change of Control” means that NEUROMetrix entered into a transaction resulting
      in (A) the consolidation or merger of NEUROMetrix and an EyeTel Competitor
      following which the voting securities of NEUROMetrix outstanding immediately
      prior to such merger or consolidation represent (either by remaining outstanding
      or by being converted into voting securities of the surviving entity) less
      than
      50% of the combined voting power of the voting securities of the surviving
      entity outstanding immediately after such merger or consolidation or ceasing
      to
      have the power to elect at least a majority of the board of directors or other
      governing body of such surviving entity or (B) an EyeTel Competitor
      becoming the beneficial owner (as such term is defined in Section 13d-3 under
      the Securities Exchange Act of 1934, as amended), directly or indirectly, of
      securities of NEUROMetrix (or a successor of NEUROMetrix) representing 50%
      or
      more of the combined voting power of NEUROMetrix’s then outstanding voting
      securities. 

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    

    “NEUROMetrix
      Competitor” means any Person that, as of the date of any EyeTel Change of
      Control, manufactures or commercializes a commercial product that directly
      competes with a marketed NEUROMetrix product.

    

    “New
      EyeTel Services” means any services initially offered by EyeTel after the
      Effective Date. For purposes of this definition, any service offered by EyeTel
      after the Effective Date, other than the EyeTel Services, will be deemed to
      be a
      New EyeTel Service unless it is identified as an “Excluded EyeTel Service” on
Exhibit B
      hereto.

    

    “New
      Product” means any product initially offered by EyeTel after the Effective Date.
      For purposes of this definition, any product offered by EyeTel after the
      Effective Date, other than the Products, will be deemed to be a New Product
      unless it is identified as an “Excluded Product” on Exhibit B
      hereto.

    

    “Person”
      shall
      mean any individual or corporation, company, partnership, trust, incorporated
      or
      unincorporated association, joint venture or other entity of any
      kind.

    

    “Product”
      means the Initial Product and any New Product that becomes subject to the terms
      of this Agreement in accordance with Section 4.A, including any and all
      improvements, extensions and/or upgrades to such Product. A complete list of
      the
      products constituting Products at any give time will be set forth on
Exhibit A.
      For
      sake of clarity, nothing in this Agreement requires EyeTel to provide any
      improvements, extensions and/or upgrades for any particular Product to existing
      Customers without further payment as agreed upon by the parties.

    

    “Qualifying
      Customer Agreement” means a binding, contractual agreement between NEUROMetrix
      and a Valid Prospect in the Territory that contains terms and conditions
      mutually agreeable to NEUROMetrix and EyeTel with respect to provision of
      Products and/or EyeTel Services to such Customer. 

    

    “Scan”
      means utilizing the Initial Product to perform a diagnostic test to gain an
      image of the eye.

    

    “Scan
      Fees” means the per Scan fee charged for the use of the Initial Product and the
      performance of the Scan Services.

    

    “Scan
      Services” means receiving the automatic transmission of the images generated
      from a Scan, the reading of these images by an expert clinical reader under
      the
      direction of a retinal specialist and, based on such reading of these images,
      the generation and delivery to the Customer of a report containing a clinical
      interpretation of these images.

    

    “Subscription
      Fees” means the monthly charge paid by a Customer for the continued maintenance
      and use of an Initial Product and the ability to have the Scan Services
      performed by EyeTel.

    

    “Territory”
      means the United States of America and all of its territories and possessions,
      and any other countries or territories mutually agreed to in writing by both
      parties. 

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    “Valid
      Prospect” means physician offices, medical offices, physician practices,
      clinics, surgery centers and hospitals, exclusive of ophthalmology and optometry
      practices. 

    

    2. GENERAL
      AGREEMENT

    

    This
      Agreement sets forth the terms of the business relationship between NEUROMetrix
      and EyeTel regarding the sales and marketing of the Products and EyeTel Services
      to Valid Prospects in the Territory. EyeTel will produce the Products and
      provide sufficient supply of the Products as NEUROMetrix shall require.
      NEUROMetrix will direct the promotion, sales and marketing of the Products
      and
      EyeTel Services to Valid Prospects in the Territory. NEUROMetrix may not at
      any
      time promote the sale to and use of the Products or EyeTel Services to
      ophthalmology and optometry practices, nor promote the sale or use within the
      Territory of products or services substantially similar to the Products and
      EyeTel Services, as applicable.

    

    For
      sake
      of clarity, in no event shall NEUROMetrix obtain title to any Products pursuant
      to this Agreement, and any reference to “sale” or “resale” of any Products (or
      similar terminology) shall be deemed to refer to the contractual commitment
      to
      provide Product(s) to a Customer, and to permit a Customer to use the
      Product(s), under the terms of a Qualifying Customer Agreement. Moreover, any
      reference to “sale” or “resale” of EyeTel Services (or similar terminology) to
      any Customer shall be deemed to mean the contractual commitment to provide
      EyeTel Services to such Customer. 

    

    3. EXCLUSIVE
      RIGHTS

    

    A. EyeTel
      hereby grants to NEUROMetrix, and NEUROMetrix hereby accepts, the exclusive
      (even as to EyeTel) right to market and sell Products and EyeTel Services to
      Valid Prospects in the Territory during the term of this Agreement. In addition,
      subject to the terms and conditions of this Agreement, EyeTel hereby grants,
      and
      NEUROMetrix accepts, a perpetual, non-exclusive, non-transferable (except as
      set
      forth in Section 15.J) license to use the Product solely for the benefit of
      Customers and solely for purposes of receiving or providing EyeTel Services,
      which license shall be sublicenseable to Customers within the Territory solely
      to the extent necessary to enable, and for the purpose of enabling, Customers to
      exercise the rights granted in Qualifying Customer Agreements for the benefit
      of
      such Customers and solely for purposes of receiving EyeTel
      Services.

    

    B. EyeTel
      hereby grants, and NEUROMetrix accepts, a Continuation License (as defined
      below) following a Bankruptcy Event (as defined below) and payment of the Fair
      Market Value Fee (as defined below), which payment may be made in NEUROMetrix’s
      sole discretion. A “Bankruptcy Event” shall mean EyeTel is subject to a petition
      in bankruptcy or any proceeding related to insolvency, receivership, liquidation
      or composition for the benefit of its creditors. The “Fair Market Value Fee”
shall be the fair market value of the Continuation License at the time of the
      Bankruptcy Event as agreed upon by the parties. In the event the parties cannot
      agree on a fair market valuation within thirty (30) days, the parties shall
      submit the matter to binding arbitration as described in Section 15.C. Upon
      obtaining such Continuation License, future obligations of the parties under
      this Agreement will terminate. For purposes of this Agreement, the term
“Continuation License” shall mean, collectively: (i) a perpetual, non-exclusive,
      non-sublicenseable, non-transferable (except as set forth in Section 15.J)
      license to manufacture Products, provided that NEUROMetrix may engage a
      third-party contractor, that would not be considered an EyeTel Competitor at
      the
      relevant time, to perform such manufacture on NEUROMetrix’s behalf; (ii) a
      perpetual, exclusive, non-sublicenseable, non-transferable (except as set forth
      in Section 15.J) license to offer to sell and have offered to sell, sell and
      have sold, import and have imported and distribute and have distributed Products
      and EyeTel Services solely to Valid Prospects within the Territory; (iii) a
      perpetual, non-exclusive, non-sublicenseable, non-transferable (except as set
      forth in Section 15.J) license of equal scope to the licenses granted in
      Sections 3.A, 7.A.ii, 7.A.iii and 10.A (Section 10.A, subject to NEUROMetrix’s
      continued compliance with EyeTel’s trademark usage policy and EyeTel’s continued
      authority to specifically enforce such compliance, including by means of
      injunctive relief) provided that such licenses shall be perpetual. Except as
      expressly stated by the foregoing, a Continuation License shall not include
      any
      other rights or licenses. NEUROMetrix shall pay the fair market value of the
      demonstration equipment if it retains such equipment following a Bankruptcy
      Event.

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    4. NEW
      PRODUCT AND NEW EYETEL SERVICES RIGHTS

    

    Prior
      to
      offering a New Product or New EyeTel Service to Valid Prospects in the
      Territory, EyeTel shall first give NEUROMetrix written notice of its intention
      to offer such New Product or New EyeTel Service, including reasonable detail
      concerning such New Product or New EyeTel Service, its development status,
      regulatory status and pricing information. At any time within [*****] after
      receipt of such notice, NEUROMetrix may elect to include such New Product or
      New
      EyeTel Service as a Product or EyeTel Service, subject to this Agreement, by
      delivering written notice of its election to EyeTel. If NEUROMetrix delivers
      such notice to EyeTel within such [*****]
      period, Exhibit A
      shall be
      amended to include such New Product or New EyeTel Services. All New Products
      will be subject to commercially reasonable pricing as mutually agreed by the
      parties. In the event that NEUROMetrix does not elect to include such New
      Product or New EyeTel Service as a Product or EyeTel Service subject to this
      Agreement, then EyeTel may directly offer or engage another Person to offer
      such
      New Product or New EyeTel Service to Valid Prospects in the Territory; provided
      that the terms offered to any other Person so engaged may not be more favorable
      than those previously offered to NEUROMetrix. For the sake of clarity, and
      subject to the foregoing, nothing in the Agreement limits or modifies EyeTel’s
      rights to market or distribute products that are not Products to any third
      party
      in the Territory or elsewhere.

    

    5. TERM

    

    A. The
      initial term of this Agreement shall commence upon the Effective Date and expire
      on December 31, 2013, unless earlier terminated in accordance with Section
      6.

     

    
      
* Confidential
      Treatment Requested.  

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    B. The
      term
      of this Agreement shall automatically renew at the end of each term for
      successive five (5) year terms unless either (i) this Agreement has been
      previously terminated pursuant to Section 6 hereof or (ii) either party delivers
      a written non-renewal notice to the other party at least two (2) years prior
      to
      the end of the then current term.

    

    6. TERMINATION
      AND TRANSITION

    

    A. Prior
      to
      the first anniversary of the Effective Date, neither party shall have the right
      to terminate this Agreement for any reason, except as expressly set forth below
      in this Section 6.

    

    B. Subject
      to the notice and cure period provided in Section 6.D below, at any time after
      the first anniversary of the Effective Date, NEUROMetrix will have the right
      to
      terminate this Agreement in the event that either:

    

    
      	 	
              i.

            	
              Product
                and Service Quality.

            

      	 	 	(a) EyeTel does not use commercially reasonable
              efforts
              to provide reliable devices of high quality that are acceptable to
              Customers in the Territory, and timely, accurate interpretation services
              and timely, effective Product maintenance to Customers in the Territory,
              or (b) the Initial Product or Initial EyeTel Services have a significant
              competitive disadvantage in the market to one or more products or services
              (assuming NEUROMetrix sells the Initial Products and Scan Services
              for a
              price equal to two times the minimum payment NEUROMetrix is required
              to
              make to EyeTel upon the sale of such Initial Product and Scan Services,
              based on commercially reasonable standards such as a significantly
              lower
              cost and/or significantly greater technological
              capabilities. 

    

     

    
      	 	
              ii.

            	
              Favorable
                Reimbursement.

            

      	 	 	If there is any material unfavorable change in the
              reimbursement landscape or status, as reasonably agreed by the parties,
              after the Effective Date. 

    

     

    C. Subject
      to the notice and cure period provided in Section 6.D below, at any time after
      the first year, EyeTel will have the right to terminate this Agreement in the
      event that NEUROMetrix (i) does not use commercially reasonable efforts to
      promote, market and sell the Products and EyeTel Services in the Territory,
      to
      install Products in the Territory, to provide timely customer service, billing
      and collections, training and field service or to enforce, in light of the
      entire Customer relationship, the Qualifying Customer Agreements or (ii)
      materially breaches its obligation to make payments to EyeTel pursuant to this
      Agreement.

    

    D. In
      order
      to terminate this Agreement pursuant to Section 6.B or 6.C hereof, the
      terminating party must provide the non-terminating party with a written notice
      describing in reasonable detail the condition as a result of which the
      terminating party believes it may terminate this Agreement (the “Notice of
      Intent to Terminate”). The non-terminating party may then initiate corrective
      action within [*****] and provide documented proof of cure of such condition
      to
      the terminating party within a total of [** ***]
      of
      its receipt of the applicable Notice of Intent to Terminate (the “Cure Period”).
      In the event that all conditions specified in the applicable Notice of Intent
      to
      Terminate are cured, the terminating party will not have the right to terminate
      this Agreement pursuant to Section 6.B or 6.C hereof with respect to those
      conditions specified in the applicable Notice of Intent to Terminate. In the
      event that the conditions specified in the applicable Notice of Intent to
      Terminate are not cured within the Cure Period, the terminating party may
      terminate this Agreement on the date that is [*****]
      after the conclusion of the Cure Period by providing the non-terminating party
      with a written notice of termination (the “Notice of Termination”) on or before
      such date.

     

    
      
        

      

      * Confidential
        Treatment Requested.

       

    

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    E. In
      the
      event of an EyeTel Change of Control or the transfer of this Agreement to a
      NEUROMetrix Competitor, EyeTel will promptly provide written notice to
      NEUROMetrix of the occurrence of such event. Upon the occurrence of such event,
      NEUROMetrix will have the right, at its sole discretion, to terminate this
      Agreement by providing written notice to EyeTel at any time within [*****]
      after
      the later of (i) the occurrence of the EyeTel Change of Control or the transfer
      of this Agreement or (ii) NEUROMetrix’s receipt of notice of the occurrence of
      such event from EyeTel. 

    

    F. In
      the
      event of a NEUROMetrix Change of Control or the transfer of this Agreement
      to an
      EyeTel Competitor, NEUROMetrix will promptly provide written notice to EyeTel
      of
      the occurrence of such event. Upon the occurrence of such event, EyeTel will
      have the right, at its sole discretion, to terminate this Agreement by providing
      written notice to NEUROMetrix at any time within [*****] after the later of
      (i)
      the occurrence of the NEUROMetrix Change of Control or the transfer of this
      Agreement or (ii) EyeTel’s receipt of notice of the occurrence of such event
      from NEUROMetrix. 

    

    G. Transition

    

    
      	 	
              i.

            	
              In
                the event of the termination of this Agreement pursuant to Section
                6.B,
                6.C, 6.E, or 6.F hereof (an “Early Termination”), then, for a period of
                [*****] following the termination (the “Transition Period”), NEUROMetrix
                will be obligated to continue to perform all of its obligations under
                this
                Agreement with respect to all Customers in the Territory existing
                as of
                the date of termination (“NEURO Customers”). In the event EyeTel elects to
                terminate this Agreement pursuant to Section 6.C, EyeTel may engage
                another entity to commence direct sales and marketing activities
                to secure
                and service new customers within the Territory and to handle all
                activities described herein to be performed by NEUROMetrix with respect
                to
                such new customers. This must be detailed in a written notice from
                EyeTel
                to NEUROMetrix so that NEUROMetrix does not secure any new Customers
                within the Territory during the Transition Period. Any new Customers
                secured by NEUROMetrix during this Transition Period will be considered
                NEURO Customers and subject to all terms of this Agreement, except
                for
                those secured after this Agreement has been terminated by EyeTel
                pursuant
                to Section 6.C and EyeTel has provided the written notice specified
                in the
                foregoing sentence to NEUROMetrix. Thereafter, NEUROMetrix will transition
                all of its obligations under this Agreement with respect to all non-NEURO
                Customers to EyeTel (or its written designee), and will execute all
                documents reasonably requested by EyeTel to enable such transfer.
                

            

    

     

     

      
        

      

    

    * Confidential
      Treatment Requested.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    
      	 	
              ii.

            	
              In
                the event that this Agreement is terminated by EyeTel pursuant to
                Section
                6.C and it is determined by an arbitrator pursuant to Section 15.C
                below
                that NEUROMetrix has not used commercially reasonable efforts to
                service,
                bill and collect from the NEURO Customers during the Transition Period,
                then following such determination EyeTel may engage another entity
                to
                handle all activities described herein to be performed by NEUROMetrix
                with
                respect to the NEURO Customers. This must be detailed in a written
                notice
                from EyeTel to NEUROMetrix so that NEUROMetrix discontinues handling
                such
                activities and, from and after the date of such written notice (or
                such
                later date of as which NEUROMetrix is to discontinue handling such
                activities as specified in the written notice) until the end of the
                Transition Period, NEUROMetrix will be entitled to receive [*****]
                of all
                fees thereafter collected with respect to any order received by EyeTel
                (or
                any other party to which EyeTel subsequently grants rights to receive
                orders) from NEURO Customers during such period in lieu of the fees
                NEUROMetrix would have otherwise been entitled to retain pursuant
                to this
                Agreement with respect to such
                orders.

            

    

    

    
      	 	
              iii.

            	
              Except
                as otherwise set forth in Section 6.G.ii above, in the event of an
                Early
                Termination, NEUROMetrix will be entitled to receive all fees it
                otherwise
                would have had a right to receive under this Agreement with respect
                to all
                orders for Products or EyeTel Services made by NEURO Customers during
                the
                Transition Period pursuant to Section 8.

            

    

    

    
      	 	
              iv.

            	
              In
                addition to the fees to which NEUROMetrix is entitled pursuant to
                Sections
                6.G.ii and iii above, as compensation for prior services and the
                creation
                of the NEURO Customers, NEUROMetrix will be entitled to receive [*****]
                of
                all fees collected with respect to any orders received by EyeTel
                (or any
                other party to which EyeTel subsequently grants rights to receive
                orders)
                from NEURO Customers, other than with respect to Subscription Fees
                (with
                respect to which NEUROMetrix will not be entitled to any fees), during
                the
                [** ***]
                period following the end of the Transition Period.
                

            

    

    

    
      	 	
              v.

            	
              From
                and after the date on which NEUROMetrix ceases to provide billing
                and
                accounts receivable services for new orders under this Agreement,
                EyeTel
                will be bound to make payments to NEUROMetrix pursuant to Section
                8.G on
                the same terms as NEUROMetrix was previously bound to make payments
                to
                EyeTel pursuant to Section 8.G.

            

    

     

    
      
        

      

      * Confidential
        Treatment Requested.

    

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    H. Notwithstanding
      anything set forth in this Section to the contrary, the provisions of Sections
      6.G, 6.H, 11.B and 12 through 15 shall survive a termination of this Agreement.
      

    

    7. RESPONSIBILITIES
      OF PARTIES

    

    A. Sales
      and Marketing

    

    
      	 	
              i.

            	
              NEUROMetrix
                agrees to use commercially reasonable efforts to promote, market
                and sell
                the Products and EyeTel Services to Valid Prospects in the Territory
                at
                its own expense, including, by way of example, developing and providing
                marketing collateral to Valid Prospects. Examples of marketing collateral
                may include, but is not limited to product brochures, sales aides,
                report
                samples, clinical education tools, training materials, patient education
                materials, clinical reprints, practice integration tools, tradeshow
                graphics, direct mail, journal advertising and website development.
                NEUROMetrix will follow-up, as it deems appropriate, on any inquiries
                from
                Customers or Valid Prospects in the Territory, and will handle
                correspondence and personal contacts with such Customers or Valid
                Prospects to promote the sale of the Products and EyeTel Services
                to such
                Customers or potential customers. NEUROMetrix agrees to maintain
                commercially reasonable sales representative coverage within the
                Territory
                as it shall determine, in its sole reasonable discretion, to perform
                such
                promotion and marketing activities and shall cause all sales
                representatives engaged in selling the Products or EyeTel Services
                to be
                trained with respect to such Products and the medically appropriate
                utilization of such Products.

            

    

    

    
      	 	
              ii.

            	
              Promptly
                after the Effective Date (or, in the case of a New Product or New
                EyeTel
                Services, promptly after the date on which such New Product or New
                EyeTel
                Services becomes subject to this Agreement), EyeTel will provide
                copies of
                all of its current sales training documentation, promotional material
                and
                sales literature relating to the Products and EyeTel Services to
                NEUROMetrix, and EyeTel hereby grants NEUROMetrix during the Term
                of this
                Agreement: (1) a non-exclusive license, under all of EyeTel’s copyrights
                related to, covered and/or embodied in such documentation, material
                and
                literature, to reproduce, modify and create derivative works the
                same; (2)
                an exclusive license to display or have displayed and/or distribute
                or
                have distributed the same to Valid Prospects in the Territory in
                order to
                promote or have promoted, market or have marketed and sell or have
                sold
                the Products and EyeTel Services in the Territory; and (3) an exclusive
                license to re-label or re-brand the Products and the above-described
                documentation, material and/or literature as contemplated in the
                following
                Section 7.A.iv for purposes of promoting and marketing Products to
                Valid
                Customers in the Territory. Any tangible copies of such documentation,
                material or literature created by NEUROMetrix will be owned by
                NEUROMetrix, and, in the event that any independent copyright arises
                in
                any such derivative works created by NEUROMetrix, NEUROMetrix will
                own
                such copyright, subject to EyeTel’s continuing right and title in the
                underlying materials and the copyrights therein. If any change in
                the
                Products requires a change in the documentation or if EyeTel decides
                to
                change any of the documentation or create new documentation applicable
                to
                the Products, EyeTel shall promptly notify NEUROMetrix of the change
                and
                provide to NEUROMetrix a revised reproducible master copy without
                charge.
                All documentation shall be delivered to NEUROMetrix in a mutually
                agreeable format in the English language.

            

    

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    
      	 	
              iii.

            	
              EyeTel
                agrees to provide to NEUROMetrix, upon specific request and at EyeTel’s
                expense, a reasonable number of Products to be used solely as
                demonstration equipment by NEUROMetrix’s sales representatives actively
                engaged in selling the Products. In connection therewith, subject
                to the
                terms and conditions of this Agreement, EyeTel hereby grants to
                NEUROMetrix, and NEUROMetrix hereby accepts, a non-exclusive license
                to
                use the EyeTel Products solely for demonstration purposes. For sake
                of
                clarity, no such demonstration equipment may be used for customer
                trials,
                nor installed at the site of any Valid Prospect, Customer or any
                other
                third party, but may be used on-site by NEUROMetrix’s sales personnel for
                real-time demonstrations operated by such sales personnel while on
                the
                premises of the Valid Prospect or Customer. Any request by NEUROMetrix
                for
                Products to be used as demonstration equipment will be forecasted
                and
                reviewed with EyeTel on a quarterly basis and shipped by EyeTel,
                at
                EyeTel’s expense, within a commercially reasonable period of time after
                NEUROMetrix’s request. All Products received by NEUROMetrix for use as
                demonstration equipment will be returned to EyeTel, at NEUROMetrix’s
                expense, upon the expiration or termination of this Agreement. All
                such
                demonstration equipment provided by EyeTel is loaned only, not leased
                or
                sold, and EyeTel retains ownership of all such equipment. NEUROMetrix
                shall exercise reasonable efforts to safeguard such demonstration
                equipment against damages or loss, and shall be responsible for the
                cost
                of repairing or replacing any such equipment if damage or loss thereto
                results from NEUROMetrix’s and/or its sales personnel’s negligence. In all
                other cases, EyeTel shall be responsible for the maintenance, repair
                or
                replacement, as the case may be, of the demonstration
                equipment.

            

    

    

    
      	 	
              iv.

            	
              NEUROMetrix,
                in its sole discretion, may market and sell the Products and EyeTel
                Services under the current label and/or brand used by EyeTel and/or
                under
                any other private label of NEUROMetrix and/or brand of NEUROMetrix
                without
                any reference to EyeTel or its properties on the Product or on the
                documentation that accompanies the Product and/or the rendering of
                the
                EyeTel Services; such private label may include specific reference,
                without limitation, to the Product as a “NEUROMetrix” product or some
                other derivative of “NEUROMetrix”; provided, that this shall also include
                the right to label and/or brand the Products as produced and/or developed
                by EyeTel, as produced and/or developed by NEUROMetrix, or as a
                combination of both. Without limiting any of the preceding provisions
                of
                this paragraph, NEUROMetrix shall at all times cause proprietary
                notices
                to be displayed within or upon the Products sufficient to place third
                parties on notice of the proprietary nature of intellectual property
                embodied in the Products (e.g., copyright notices, branding of some
                kind
                determined by NEUROMetrix).

            

    

    

    
      	 	
              v.

            	
              NEUROMetrix
                will be solely responsible for determining pricing of the Products
                and
                EyeTel Services in the Territory.

            

    

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    B. Ordering
      and Shipping.
      

    

    
      	 	
              i.

            	
              NEUROMetrix
                will be responsible for handling all administrative matters relating
                to
                the ordering of Products or EyeTel Services by Customers in the Territory,
                and all such orders will be placed by the Customers directly with
                NEUROMetrix (except for Scans/orders for Scan Services, which may
                be
                ordered from EyeTel automatically through the Initial Product). All
                such
                orders will be accepted by NEUROMetrix, or, in the case of orders
                for Scan
                Services ordered from EyeTel automatically, by EyeTel on behalf of
                NEUROMetrix, in accordance with NEUROMetrix’s standard ordering
                procedures, terms and conditions, which can be amended from time
                to time
                by NEUROMetrix in its sole discretion. After being accepted by
                NEUROMetrix, all such orders will be communicated by NEUROMetrix
                to
                EyeTel. Unless NEUROMetrix requests otherwise, all orders for the
                Products
                will be shipped directly to the Customer from EyeTel at EyeTel’s cost, and
                EyeTel shall bear the risk of loss until such time as the Product
                is
                received by the Customer, unless NEUROMetrix’s contract with the Customer
                provides for an earlier transfer. EyeTel shall be responsible, at
                its own
                expense, for the safe and suitable packaging of the Products, consistent
                with industry standards and, upon request, shall label the Products
                as
                NEUROMetrix shall reasonably direct. All orders for the Products
                will be
                shipped by EyeTel within a commercially reasonable time after EyeTel’s
                receipt of the relevant order(s). EyeTel will notify NEUROMetrix
                of the
                shipment of any such Product within one week after shipment. Within
                the
                first five (5) days of each calendar month, NEUROMetrix will provide
                a
                written, non-binding, good-faith forecast of the orders for Products
                and
                EyeTel Services that NEUROMetrix reasonably expects to be submitted
                to
                EyeTel during each of the then-following six (6)
                months.

            

    

    

    
      	 	
              ii.

            	
              EyeTel
                will notify NEUROMetrix of any such Scan Services provided on a weekly
                basis after
                providing such Scan Services. Any other EyeTel Services that are
                ordered
                will be provided in the manner agreed to by the
                parties.

            

    

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    
      	 	
              iii.

            	
              EyeTel
                shall use commercially reasonable efforts to perform all maintenance
                obligations with respect to the Products that are imposed upon NEUROMetrix
                pursuant to Qualifying Customer Agreements, except that NEUROMetrix
                shall
                have the frontline customer-interface responsibility. EyeTel shall
                either
                perform the requisite maintenance or service at the Customer’s premises or
                pay for the Product to be shipped to EyeTel for the performance of
                such
                maintenance or repair. For any return of any Product from NEUROMetrix
                or a
                Customer to EyeTel (either upon the termination of a Customer agreement
                regarding such Product or otherwise), NEUROMetrix shall arrange for
                the
                return shipping at EyeTel’s cost using EyeTel’s carrier of choice, and the
                risk of loss (as between the parties) shall transfer to EyeTel when
                the
                Product is received by EyeTel’s carrier of choice. The parties, by mutual
                agreement, shall reasonably determine whether, in a particular case,
                a
                Product should be shipped to EyeTel for purposes of maintenance,
                or
                whether the relevant maintenance should be performed at the Customer’s
                premises.

            

    

    

    
      	 	
              iv.

            	
              NEUROMetrix
                acknowledges and agrees that, (i) in order for any Customer to receive
                the
                Initial EyeTel Services, the Initial EyeTel Services must be provided
                on
                NEUROMetrix’s behalf by EyeTel as a subcontractor, and (ii) in order for a
                Customer to receive the Initial EyeTel Services, an Initial Product
                must
                be placed within the Customer’s premises and operated by the Customer.
                EyeTel agrees to ship such Products to the Customer’s premises (or, at
                NEUROMetrix’s request, to NEUROMetrix for delivery to the Customer’s
                premises), provided that NEUROMetrix has entered into a Qualifying
                Customer Agreement with the relevant Customer. NEUROMetrix will not
                place
                an order for any Product or EyeTel Services unless and until such
                Qualifying Customer Agreement has been executed by both the Customer
                and
                NEUROMetrix. NEUROMetrix agrees to exercise commercially reasonable
                efforts to enforce the terms of all such Qualifying Customer
                Agreements.

            

    

    

    
      	 	
              v.

            	
              EyeTel
                shall keep its Products at the Customer’s premises until the equipment is
                returned to EyeTel at the direction of NEUROMetrix or until termination
                of
                this Agreement (whichever first occurs), notwithstanding non-payment
                or
                breach of the Qualifying Customer Agreement, subject only to NEUROMetrix’s
                obligation to use commercially reasonable efforts to enforce the
                terms of
                the Qualifying Customer Agreement and the obligation described in
                Section
                7.C(iii). 

            

    

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    C. Billing
      and Accounts Receivable.

    

    
      	 	
              i.

            	
              NEUROMetrix
                agrees to use commercially reasonable efforts to manage all accounts
                receivables functions, including billing and collections, for all
                Customers purchasing Products or EyeTel Services in the Territory.
                NEUROMetrix and EyeTel shall agree in advance as to the standard
                billing
                and collection policy for any new Customers, and any deviations from
                this
                policy must be agreed upon in advance by the
                parties.

            

    

    

    
      	 	
              ii.

            	
              NEUROMetrix
                agrees to provide sales and revenue information to EyeTel on a monthly
                basis.

            

    

    

    
      	 	
              iii.

            	
              The
                timeframe for remittance of accounts receivable will be agreed upon
                by the
                parties. Unless otherwise agreed by the parties, if a Customer does
                not
                remit payment within such established timeframe, NEUROMetrix will
                terminate the relevant Qualifying Customer Agreement, or, in the
                alternative, shall terminate all rights of such agreement requiring
                provision of Products or EyeTel Services to such Customer, and EyeTel
                will
                thereafter have no further obligations to provide EyeTel Services
                on
                NEUROMetrix’s behalf to such Customer or keep Products on the premises of
                such Customer. Upon termination thereof, NEUROMetrix shall arrange
                for the
                Product(s) in such Customer’s possession to be promptly returned to
                EyeTel. The foregoing provisions of this paragraph shall be specifically
                enforceable against NEUROMetrix, and, notwithstanding any other provision
                of this Agreement, EyeTel may seek equitable relief, including injunction,
                to enforce NEUROMetrix’s obligations under this
                paragraph.

            

    

    

    D. Manufacturing.
      As
      between the parties, EyeTel will be responsible for manufacturing the Products
      and providing the EyeTel Services on NEUROMetrix’s behalf to all Customers in
      the Territory. EyeTel will use commercially reasonable efforts to maintain
      sufficient manufacturing capacity and inventory of the Products so that it
      may
      ship all Products ordered by NEUROMetrix’s Customers within a commercially
      reasonable time after EyeTel’s receipt of such order. 

    

    E. Installation.
      NEUROMetrix will be responsible for assisting all Customers in the Territory
      with the installation of the Products and training Customers on how to use
      the
      Products. EyeTel will provide all necessary personnel and equipment to provide
      reasonable initial training to NEUROMetrix’s headquarters team with respect to
      the installation, customer training and operation of the Products (the “Initial
      Training Period”), upon NEUROMetrix’s reasonable request. Such training shall be
      at NEUROMetrix’s headquarters with EyeTel resources to be provided at no cost to
      NEUROMetrix. Any training provided after the Initial Training Period shall
      be
      provided at such time and location, and with costs borne by such party, as
      the
      parties mutually agree to at a later date.

    

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

    F. Customer
      Service - Technical Support.
      

    

    
      	 	
              i.

            	
              NEUROMetrix
                will offer commercially reasonable customer service to provide support
                for
                routine matters (other than “in-the-box” matters or matters which relate
                to the internal operations of the Products) to all Customers in the
                Territory, including, without limitation: (i) receipt of Customer
                inquiries via telephone, email or other communications and (ii) provision
                of training and technical consultation. EyeTel will use commercially
                reasonable efforts to provide NEUROMetrix with technical customer
                service
                support for all “in-the-box” matters or matters which relate to the
                internal operations of the Products, all non-routine matters and
                other
                matters that NEUROMetrix is unable to resolve (including, without
                limitation, by assisting NEUROMetrix, upon its reasonable request,
                in
                providing technical support for end-users) relating to the Products.
                EyeTel will provide maintenance of Products as set forth in Section
                7.B.iii. 

            

    

    

    
      	 	
              ii.

            	
              EyeTel
                shall maintain during the term of this Agreement the capability to
                repair
                the Product and furnish documentation, spare parts, service tools,
                and
                instruments necessary to service the Product
                effectively.

            

    

    

    G. Customer
      Service - Reimbursement.

    

    
      	 	
              i.

            	
              NEUROMetrix
                will use commercially reasonable efforts to offer support to Customers
                with respect to reimbursement requirements relating to Scans (or
                other
                uses of the Products) performed by Customers in the
                Territory.

            

    

    

    
      	 	
              ii.

            	
              EyeTel
                will use commercially reasonable efforts to maintain favorable status
                of
                payer policies, regarding Scans using the Products that is at least
                as
                favorable as that in existence as of the Effective
                Date.

            

    

    

    H. Scan
      Services.
      EyeTel
      will be responsible, as a subcontractor of NEUROMetrix pursuant to this
      Agreement, for performing the Scan Services for all Customers in the Territory.
      EyeTel will use commercially reasonable efforts to engage or employ sufficient
      personnel and maintain sufficient other infrastructure in order to provide
      the
      Scan Services to the Customers as promptly as possible and, in any event, within
      two (2) business days of the ordering of Scan Services and to provide any other
      EyeTel Services in a timely manner. 

    

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

    I. General.

    

    
      	 	
              i.

            	
              Each
                party agrees to perform the services such party is required to perform
                hereunder in compliance with all applicable laws and regulations
                and in
                accordance with the highest ethical
                standards.

            

    

    

    
      	 	
              ii.

            	
              Each
                party shall have the right, upon its reasonable request and upon
                its own
                cost, to audit (directly or through third parties), any documents
                that the
                other party has relating to the performance of such party’s obligations
                under this Agreement or other applicable legal requirements. This
                audit
                may be performed no more than one-time for every three (3) month
                period
                and no more often then twice in any calendar year. Such audits must
                be
                conducted upon reasonable notice during reasonable business
                hours.

            

    

    

    J. Standard
      of Service.
      To the
      extent EyeTel provides services for the Products or EyeTel Services (including
      the Scan Services), EyeTel covenants, represents and warrants that all such
      services or EyeTel Services will be performed by EyeTel in a timely,
      professional, and workman-like manner and in accordance with the standard set
      forth in the Qualifying Customer Agreements.

    

    8. PAYMENT
      OBLIGATIONS

    

    A. Initial
      Product Installation Fees.
      NEUROMetrix shall pay to EyeTel for the acquisition of Initial Products for
      installation on the premises of Customers in the Territory in accordance with
      the following schedule:

    

    
      	 	
              i.

            	
              If
                [** ***]
                or fewer Initial Products are installed at a Customer’s site within a
                consecutive [*****] month period, then NEUROMetrix shall pay EyeTel,
                for
                each of such Initial Products installed, the greater of (a) [*****]
                or (b)
                [*****] of the sales price/up front fee charged by NEUROMetrix to
                the
                Customer for such Initial Product.

            

    

    

    
      	 	
              ii.

            	
              If
                more than [*****] but fewer than [*****] Initial Products are installed
                at
                a Customer’s site within a consecutive [*****] period, then NEUROMetrix
                shall pay EyeTel, for each of such Initial Product installed, the
                greater
                of (a) [*****] or (b) [*****] of the sales price/up front fee charged
                by
                NEUROMetrix to the Customer for such Initial
                Product.

            

    

    

    
      	 	
              iii.

            	
              If
                at least [*****] but fewer than [*****] Initial Products are installed
                at
                a Customer’s site within a consecutive [*****] period, then NEUROMetrix
                shall pay EyeTel, for each of such Initial Product installed, the
                greater
                of (a) [*****] or (b) [*****] of the sales price/up front fee charged
                by
                NEUROMetrix to the Customer for such Initial
                Product.

            

    

    

    
      	 	
              iv.

            	
              If
                [*****] or more Initial Products are installed at a Customer’s site within
                a consecutive [*****] period, then NEUROMetrix shall pay EyeTel,
                for each
                of such Initial Product installed, the greater of (a) [*****] or
                (b)
                [*****] of the sales price/up front fee charged by NEUROMetrix to
                the
                Customer for such Initial Product.

            

    

     

    
      
        

      

      * Confidential
        Treatment Requested.

    

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

     

    B. Such
      Initial Product installation fees made to EyeTel by NEUROMetrix will be reduced
      or increased as agreed upon by the parties to reflect any material increase
      or
      decrease in manufacturing or packaging costs resulting from the use, at
      NEUROMetrix’s request, of a brand other than the current label or brand used by
      EyeTel. For avoidance of doubt, this fee schedule assumes that EyeTel retains
      title to all Initial Products installed and is also entitled to the Subscription
      Fees set forth in Section 8.C below. In the event that a Customer desires to
      purchase title to an Initial Product, the fee owed to EyeTel for such purchase
      will be as set by mutual agreement between the parties.

    

    C. Subscription
      Fees.
      NEUROMetrix shall pay to EyeTel, for each Initial Product installed on a
      Customer’s premises in the Territory, whether installed prior to or during the
      term of this Agreement, [*****] of any Subscription
      Fees
      paid by such Customer prior to the return of such Initial Product to EyeTel
      (or
      the earlier termination of the rental agreement relating to the Initial
      Product). 

    

    D. Scan
      Fees.
      In
      addition, NEUROMetrix shall pay EyeTel, for each Scan, the greater of (a)
      [*****] or (b) [** ***]
      of
      the Scan Fee it charges to its Customers in connection with such Scan using
      the
      Initial Product. The parties hereby agree to reduce to writing a fee matrix
      that
      will set forth the discounts with respect to such fees that are available to
      NEUROMetrix.

    

    E. Other
      Fees.
      The
      parties hereby agree to negotiate in good faith to determine appropriate
      additional volume pricing discounts for purchases of the Products or EyeTel
      Services in the event that Customers or Valid Prospects request the Products
      or
      EyeTel Services in volumes above the discounts listed above. Additionally,
      the
      parties hereby agree to negotiate in good faith to determine appropriate pricing
      for any New Products or New EyeTel Services that become subject to this
      Agreement. 

    

    F. Pre-Existing
      Customers.
      EyeTel
      will disclose in writing to NEUROMetrix a list of all of EyeTel’s existing
      customers/accounts on or before January 1, 2007 who would otherwise be
      Valid Prospects in the Territory (the “Pre-Existing Customers”). Prior to
      January 1, 2007, the Pre-Existing Customers shall not be deemed to be Valid
      Prospects in the Territory. Effective as of January 1, 2007, all accounts
      for Pre-Existing Customers will transition to NEUROMetrix, EyeTel will execute
      all documents reasonably requested by NEUROMetrix to enable such transfer,
      and
      the Pre-Existing Customers will be deemed to be Customers. Notwithstanding
      the
      foregoing, for the period commencing January 1, 2007 and ending [*****],
      NEUROMetrix will be entitled to receive [*****] of all fees, other than
      Subscription Fees (with respect to which NEUROMetrix will not be entitled to
      any
      fees), from orders of Initial Products or Scan Services made by the Pre-Existing
      Customers during such time period (and the remainder of such fees will be paid
      to EyeTel). Beginning [*****], all fees from orders of Initial Products or
      Scan
      Services made by Pre-Existing Customers will be paid in accordance with Sections
      8.A-8.D above, as applicable.

     

    
      
        

      

      * Confidential
        Treatment Requested.

    

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

    G. Payment
      Procedures.

    

    
      	 	
              i.

            	
              Both
                parties agree and acknowledge that NEUROMetrix hereby assumes no
                financial
                liability for collections from Customers, but bears its own risk
                in the
                collections process with respect to any fees NEUROMetrix is to collect
                on
                its own behalf. Specifically, NEUROMetrix shall have no obligation
                to pay
                EyeTel any fees set forth in Section 8, until such time as NEUROMetrix
                has
                been paid such fees by the Customers. Unless specifically designated
                by
                the Customer, any payments received by NEUROMetrix will be applied
                in the
                manner determined by mutual agreement of the
                parties.

            

    

    

    
      	 	
              ii.

            	
              Upon
                receipt of payment from its Customers, NEUROMetrix will pay to EyeTel
                the
                portion of such payment that is owed to EyeTel pursuant to this Section.
                Payments by NEUROMetrix to EyeTel will be made on a weekly basis,
                with
                payment to EyeTel being made on the Thursday of the first week following
                NEUROMetrix’s receipt of such payment. Payments will be considered made as
                of the date NEUROMetrix sends the check(s) for such payments via
                overnight
                courier. Such payments will be accompanied by a statement indicating
                all
                invoices on which payments are based. If required by applicable laws,
                NEUROMetrix will deduct from the payments such federal, state, local
                or
                other taxes as may be applicable. In the event that EyeTel is the
                payor of
                any fees and NEUROMetrix is the recipient pursuant to the terms of
                this
                Agreement, the same provisions shall
                apply.

            

    

    

    H. NEUROMetrix
      will be solely responsible for determining pricing of the Products and EyeTel
      Services to Customers and Valid Prospects in the Territory, and NEUROMetrix
      is
      entitled to retain all fees it collects with respect to such Products and EyeTel
      Services except as such fees are required to be paid to EyeTel pursuant to
      this
      Section 8.

    

    9. PUBLICITY

    

    A. Due
      to
      the fact that NEUROMetrix is a publicly traded company, NEUROMetrix shall have
      the right to issue press releases or announcements, after reasonable notice
      to
      EyeTel, which may include the display of the Products and/or reference to the
      EyeTel Marks, include such information in promotional activity, or otherwise
      publicly announce or make comment on this Agreement; EyeTel may take similar
      action with the express written consent of NEUROMetrix, and may publicly make
      general references to the existence and basic substance of this Agreement,
      but
      not its particular terms or details, without requiring any such
      consent.

    

    B. Notwithstanding
      anything to the contrary in Section 9A, in the event that EyeTel becomes a
      publicly traded company, EyeTel shall have the right to issue press releases
      or
      announcements, after reasonable notice to NEUROMetrix, which may include the
      display of the Products and/or reference to the EyeTel Marks, and otherwise
      publicly announce or make comment on this Agreement, including without
      limitation the filing of a copy of the Agreement as an exhibit to any
      registration statement or periodic report to be filed with the Securities and
      Exchange Commission to the extent required by applicable law.

    

    
      
        
        

      

      
        17

        
          

        

      

      
        
        

      

    

    10. TRADENAMES
      AND TRADEMARKS

    

    A. During
      the term of this Agreement and subject to the terms and conditions specified
      herein, EyeTel grants to NEUROMetrix an exclusive, non-transferable (except
      as
      set forth in Section 15.J), non-sublicenseable license, under all of EyeTel’s
      intellectual property rights in the EyeTel Marks, to exhibit or have exhibited
      and to use or have used the EyeTel Marks in association with the Products and
      EyeTel Services only as reasonably necessary for NEUROMetrix to fulfill its
      rights and obligations hereunder, solely within the Territory. For purposes
      of
      this Agreement, the term “EyeTel Marks” shall mean EyeTel’s trademarks, services
      marks, trade names, and logos set forth on Exhibit
      C
      as
      updated from time to time by mutual written agreement. NEUROMetrix’s use of the
      EyeTel Marks will be in accordance with EyeTel’s trademark usage and cooperative
      advertising policies of general applicability to all users. NEUROMetrix shall
      have the right to create or attach any additional trademarks, trade names,
      logos
      or designations to any Product, provided that NEUROMetrix shall not create
      any
      composite mark that includes an EyeTel Mark, nor create or use any other mark(s)
      that may create confusion by Persons between such mark(s) and the EyeTel Marks.
      Any and all goodwill associated with any EyeTel Marks shall inure to the benefit
      of EyeTel. Any and all goodwill associated with any name or marks that
      NEUROMetrix may use in relation to the Products other than the EyeTel Marks
      inure to the benefit of NEUROMetrix.

    

    B. EyeTel
      is
      not hereby granted any rights to NEUROMetrix’s trademarks, services marks, trade
      names, copyrights, and similar proprietary rights, provided that, to the extent
      NEUROMetrix directs that any Product be branded during manufacture using any
      NEUROMetrix marks, NEUROMetrix hereby grants to EyeTel a license to use such
      marks solely for purposes of performing its obligations hereunder.

    

    C. NEUROMetrix’s
      use of the EyeTel Marks will be in accordance with EyeTel’s standard policies in
      effect from time to time, including but not limited to trademark usage and
      cooperative advertising policies. The foregoing provision of this paragraph
      shall be specifically enforceable against NEUROMetrix, and, notwithstanding
      any
      other provision of this Agreement, EyeTel may seek equitable relief, including
      injunction, to enforce NEUROMetrix’s obligations under this paragraph.

    

    11. ACQUISITION
      RIGHTS, FINANCING PARTICIPATION AND STOCK
      WARRANTS

    

    A. In
      the
      event that EyeTel seeks to solicit offers to sell all or substantially all
      of
      its assets (or substantially all of its assets relating to the Products and
      EyeTel Services), whether by way of merger or consolidation, stock purchase,
      asset sale, exclusive license, or similar transaction during the term of the
      Agreement, EyeTel agrees that it will notify NEUROMetrix within thirty (30)
      days
      of initiating such process and EyeTel hereby agrees that for a period of no
      less
      than thirty (30) days from the date of such notice it will engage in
      non-exclusive discussions with NEUROMetrix concerning such
      transactions.

    

    
      
        
        

      

      
        18

        
          

        

      

      
        
        

      

    

    B. In
      the
      event that EyeTel pursues an additional round of venture capital financing
      in
      which it issues preferred stock to institutional investors, EyeTel hereby grants
      to NEUROMetrix an option to purchase such preferred stock for cash, up to the
      lesser of (i) 30% of the total amount raised in such financing or (ii)
      $5,000,000, each on the same terms, obligations and conditions as all other
      participants in such round of financing and conditioned upon NEUROMetrix (i)
      entering into the same investment agreements and documents as the other
      investors and (ii) satisfying the definition of an “accredited investor” at the
      time of such financing. In the event that NEUROMetrix participates in the next
      financing round up to its maximum permitted amount and such amount is less
      than
      $5,000,000, then NEUROMetrix shall have a right to participate in EyeTel’s next
      subsequent venture capital round in an amount equal to difference between
      $5,000,000 and the amount previously invested by NEUROMetrix. EyeTel shall
      notify NEUROMetrix in writing of the terms of such round no less than twenty
      (20) business days before the closing of such financing.

    

    C. EyeTel
      will, upon the Effective Date, grant to NEUROMetrix a warrant to purchase up
      to
      500,000 shares of Common Stock of EyeTel, par value $.001 per share, at an
      exercise price of $0.16 per share that will vest based upon NEUROMetrix
      achieving the following milestones during the calendar years set forth in the
      table below. The warrant for such shares shall be in the form set forth in
      Exhibit D
      hereto.

     

    
      	
               

              Year

            	
              2007

            	
              2008

            	
              2009

            	
              2010

            	
              2011

            	
              Total

            
	 	 	 	 	 	 	 
	
              Units
                placed (= or >)

            	
              [*****]

            	
              [*****]

            	
              [*****]

            	
              [*****]

            	
              [*****]

            	
              [*****]

            
	 	 	 	 	 	 	 
	
              Average
                usage per installed unit 

              per
                month

            	
              [*****]

            	
              [*****]

            	
              [*****]

            	
              [*****]

            	
              [*****]

            	
              [*****]

            
	 	 	 	 	 	 	 
	
              #
                of Shares Vesting

            	
              [*****]

            	
              [*****]

            	
              [*****]

            	
              [*****]

            	
              [*****]

            	
              500,000

            

    

    

    

    For
      purposes of the table above:

    

    “Units
      placed” will equal the number of Initial Products for which NEUROMetrix has
      received initial payment with respect to installation during the calendar
      year(s) set forth in the table above (regardless of whether installation has
      occurred prior to the end of such calendar year(s)). In the event that an
      initial payment with respect to installation has been paid for an Initial
      Product during a calendar year but such Initial Product is removed from the
      Customer site prior to the end of such calendar year, then such Initial Product
      shall not be deemed to be a “unit placed” for the purpose of this calculation.
      In addition, in the event that an initial payment with respect to the
      installation has been paid for an Initial Product during a calendar year but
      such Initial Product is removed from the Customer site prior to the end of
      [** ***] after
      such calendar year, then such Initial Product will be deducted from the units
      placed in such subsequent year.

    

    
      
        
        

      

      
        19

        
          

        

      

      
        
        

      

    

    “Average
      usage per installed unit per month” will equal the monthly average number of
      Scans ordered per installed Initial Product, for all Initial Products installed
      by September 30 of each calendar year, by Customers in the Territory during
      the
      last three months of each of the calendar years set forth in the table above.
      

    

    Both
      the
      units placed and the average usage per installed unit per month requirements
      must be met for any given calendar year(s) for the number of shares vesting
      for
      such calendar year(s) to vest; provided that if NEUROMetrix does not meet one
      or
      both of the requirements for a specific year, but does meet the combined
      requirements for two (2) or more consecutive years including such year, then
      all
      of the shares scheduled to vest for each of the years during such period will
      vest. All shares will vest as of December 31st
      of the
      year in which the vesting requirements are met.

    

    Within
      thirty (30) calendar days after the end of each calendar year, NEUROMetrix
      will
      calculate the number of shares that it believes should be vested as of the
      end
      of such calendar year and will provide written notice to EyeTel setting forth
      such calculation in reasonable detail. EyeTel will then have fifteen (15) days
      to either accept or provide written notice to NEUROMetrix that it disputes
      NEUROMetrix’s calculations. In the event that EyeTel does not provide written
      notice within such fifteen (15) day period, EyeTel will be deemed to have
      accepted NEUROMetrix’s calculations and such calculations will be final and
      binding on all parties. In the event that EyeTel does provide such written
      notice disputing NEUROMetrix’s calculations, such dispute will be resolved in
      accordance with the dispute resolution provision in the warrant relating to
      Fair
      Market Value.

    

    D. EyeTel
      shall provide to NEUROMetrix, so long as NEUROMetrix continues to hold any
      warrants that have not been exercised, the following:

    

    
      	 	
              i.

            	
              Monthly
                Reports.
                As soon as available, but not later than twenty (20) days after the
                end of
                each fiscal month beginning with the report for the month of November
                2006, a consolidated balance sheet of EyeTel as of the end of such
                period
                and consolidated statements of income and cash flows of EyeTel for
                such
                period; provided, however, that in the event that EyeTel becomes
                a
                publicly traded company, EyeTel shall no longer be obligated to provide
                NEUROMetrix with monthly financial statements pursuant to this clause
                (i).

            

    

    

    
      	 	
              ii.

            	
              Quarterly
                Reports.
                As soon as available, but not later than twenty (20) days after the
                end of
                each quarterly accounting period, a consolidated balance sheet of
                EyeTel
                as of the end of such period and consolidated statements of income,
                cash
                flows and changes in stockholders’ equity for such quarterly accounting
                period and for the period commencing at the end of the previous fiscal
                year and ending with the end of such period, setting forth in each
                case in
                comparative form the corresponding figures for the correspond-ing
                period
                of the preceding fiscal year, all prepared in accordance with GAAP,
                subject to normal year-end adjustments and the absence of footnote
                disclosure; provided, however, that in the event that EyeTel becomes
                a
                publicly traded company, EyeTel shall not be obligated to provide
                NEUROMetrix with financial statements pursuant to this clause (ii)
                prior
                to the time that such financial statements are filed with the Securities
                and Exchange Commission.

            

    

     

    
      
        

      

      * Confidential
        Treatment Requested.

    

    
      
        
        

      

      
        20

        
          

        

      

      
        
        

      

    

    
       

      
        
        

      

    

    
      	 	
              iii.

            	
              Annual
                Audit.
                As soon as available after the end of each fiscal year of EyeTel,
                commencing with the fiscal year ended December 31, 2006, audited
                consolidated financial statements of EyeTel, which shall include
                statements of income, cash flows and changes in stockholders' equity
                for
                such fiscal year and a balance sheet as of the last day thereof,
                each
                prepared in accordance with GAAP, and accompanied by the report of
                a firm
                of independent certified public accountants selected by EyeTel's
                Board of
                Directors; provided, however, that in the event that EyeTel becomes
                a
                publicly traded company, EyeTel shall not be obligated to provide
                NEUROMetrix with financial statements pursuant to this clause (iii)
                prior
                to the time that such financial statements are filed with the Securities
                and Exchange Commission.

            

    

    

    E. Prior
      to
      the end of the 2007 calendar year, EyeTel and NEUROMetrix will enter into a
      registration rights agreement pursuant to which NEUROMetrix will be granted
      piggy-back registration rights (other than with respect to EyeTel’s initial
      public offering and subject to customary underwriter cutbacks) with respect
      to
      the shares of Common Stock that would be issuable upon any exercise of the
      warrant to the extent vested, with standard and customary terms and
      conditions.

    

    12. REPRESENTATIONS
      AND WARRANTIES

    

    A. Each
      party represents and warrants that the signatory to this Agreement on behalf
      of
      such party is authorized by the appropriate corporate action to bind the
      respective party to the terms and conditions of this Agreement and that this
      Agreement does not violate any term or condition of any organizational document
      of the party or any contract or applicable law to which such party is bound
      by.

    

    B. Unless
      otherwise agreed by the parties, EyeTel represents and warrants to NEUROMetrix
      that all representation and warranties made to Customers in a Qualifying
      Customer Agreement are true and correct to the extent they relate to anything
      other than NEUROMetrix’s performance of its obligation under this agreement. Any
      exclusive remedies stated in a Qualifying Customer Agreement with respect to
      breach of any such warranty shall constitute the exclusive remedy for any breach
      of the foregoing warranty set forth in this paragraph.

    

    
      
        
        

      

      
        21

        
          

        

      

      
        
        

      

    

    C. EyeTel
      represents and warrants that the Products will meet all applicable regulatory
      requirements and have received all applicable regulatory certifications
      necessary for the use of the Products for their intended use.

    

    D. Each
      party represents, warrants, certifies and covenants that its performance under
      this Agreement will comply with all applicable laws, ordinances, rules, and
      regulations, and all conventions and standards, as amended from time to
      time.

    

    E. EyeTel
      represents, warrants and certifies that, as of the date of this Agreement,
      its
      outstanding capital stock is as listed on Exhibit
      E
      attached
      hereto, and other than as set forth on Exhibit
      E,
      it does
      not have any obligations to issue any additional shares of capital
      stock.

    

    G. Except
      as
      expressly stated in this Section 12, to the maximum extent permitted by law,
      neither Party makes any other representations or warranties in connection with
      this Agreement, and hereby disclaims any other warranties, whether express,
      implied or statutory, including, without limitation, any warranty of
      merchantability, fitness for a particular purpose, data accuracy, system
      integration, title, non-infringement or quiet enjoyment.

    

    13. INDEMNIFICATION,
      LIABILITY, AND INSURANCE

    

    A. EyeTel
      agrees to defend, indemnify, protect, and hold harmless NEUROMetrix and its
      affiliates, officers, directors, employees, agents, servants, and
      representatives (the “NEUROMetrix Indemnitees”) from and against any and all
      costs, damages, losses, liabilities, and expenses, including reasonable
      attorney’s fees and costs, of whatever nature (“Losses”), resulting directly or
      indirectly from any third party claims, suits, actions or demands arising out
      of
      or relating to: (i) the breach by EyeTel of any of its covenants,
      representations, or warranties contained in this Agreement; (ii) any negligent
      act or omission, or willful misconduct of EyeTel or its agents, employees,
      or
      subcontractors; (iii) the
      infringement (or alleged infringement) of the U.S. patent, copyright, trade
      secret or trademark of any Person as a result of the development, manufacturing,
      sale or use of any Product or performance of any EyeTel Service; or (iv) the
      manner in which EyeTel performs its obligations under this Agreement, including,
      without limitation, the Scan Services.
      Notwithstanding the foregoing, EyeTel shall have no obligation under this
      Section 13.A with respect to infringement of third-party intellectual property
      rights to the extent arising from any modification of Products by or on behalf
      of NEUROMetrix.

    

    B. NEUROMetrix
      agrees to defend, indemnify, protect, and hold harmless EyeTel and its
      affiliates, officers, directors, employees, agents, servants, and
      representatives (the “EyeTel Indemnitees”) from and against any and all Losses
      resulting directly or indirectly from any third party claims, suits, actions
      or
      demands arising out of or relating to: (i) the breach by NEUROMetrix of any
      of
      its covenants, representations, or warranties contained in this Agreement;
      (ii)
      any negligent act or omission, or willful misconduct of NEUROMetrix or its
      agents, employees, or subcontractors; or (iii)
      the
      manner in which NEUROMetrix performs its obligations under this
      Agreement.

    

    
      
        
        

      

      
        22

        
          

        

      

      
        
        

      

    

    C. Any
      Person that may be entitled to indemnification under this Agreement (an
“Indemnified Party”) shall give written notice to the Person obligated to
      indemnify it (an “Indemnifying Party”) with reasonable promptness upon becoming
      aware of any claim or other facts upon which a claim for indemnification could
      be based; the notice shall set forth such information with respect thereto
      as is
      then reasonably available to the Indemnified Party. The Indemnifying Party
      shall
      have the right, but not the obligation, to undertake the defense of any such
      claim asserted by a third party with counsel reasonably satisfactory to the
      Indemnified Party and the Indemnified Party shall cooperate in such defense
      and
      make available all records, materials and witnesses reasonably requested by
      the
      Indemnifying Party in connection therewith at the Indemnifying Party’s expense.
      If the Indemnifying Party shall have assumed the defense of the claim with
      counsel reasonably satisfactory to the Indemnified Party, the Indemnifying
      Party
      shall not be liable to the Indemnified Party for any legal or other expenses
      (other than for reasonable costs of investigation) subsequently incurred by
      the
      Indemnified Party in connection with the defense thereof. The Indemnified Party
      may
      participate in such defense with counsel of its own choosing, at its own
      expense. The
      Indemnifying Party shall not be liable for any claim settled without its
      consent, which consent shall not be unreasonably withheld or delayed. The
      Indemnifying Party shall obtain the written consent of the Indemnified Party
      prior to ceasing to defend, settling or otherwise disposing of any claim.
The
      Indemnified Party will not be entitled to indemnification for Losses of the
      Indemnified Party to the extent that any delay in providing notice of the claim
      for which indemnification may be available, or other failure to follow the
      procedures set forth in this Section 13.C, materially prejudices the
      Indemnifying Party’s ability to defend such claim or otherwise materially
      affects the Indemnifying Party’s ability to reduce the amount of indemnifiable
      Losses. A
      payment
      for indemnification shall only be made after any final judgment or award shall
      have been rendered by a court, arbitration board or administrative agency of
      competent jurisdiction and the expiration of the time in which to appeal
      therefrom, or a settlement shall have been consummated, or the Indemnifying
      Party or the Indemnified Party shall have arrived at a mutually binding
      agreement with respect to the claim.

    

    D. NEUROMetrix
      shall obtain, pay for and maintain insurance as is commercially reasonable
      in
      the industry as a reselling and customer service provider.

    

    E. EyeTel
      shall obtain, pay for and maintain insurance as is commercially reasonable
      in
      the industry for a manufacturer and provider of services such as the Scan
      Services. In particular, EyeTel shall obtain comprehensive commercial general
      liability insurance, including contractual liability insurance and product
      liability insurance against claims regarding the production and sale of the
      Products in an amount not less than $2 million combined single limit bodily
      injury & property damage for each occurrence and $2 million aggregate,
      including coverage for products and completed operations, contractual liability
      insuring the obligations assumed and performed by EyeTel under this Agreement,
      independent contractors, and personal and advertising injury coverages.
      NEUROMetrix shall be named as an Additional Insured on such policies. In
      addition, EyeTel shall maintain Workers’ Compensation insurance in the amounts
      required by law. EyeTel will provide certificates and renewal certificates
      of
      insurance reflecting such policies and coverages as required above. Such
      certificates shall reflect that the underlying policies have been endorsed
      to
      provide at least thirty (30) days prior written notice to NEUROMetrix of the
      cancellation, non-renewal, reduction or material change of any such insurance
      coverage.

    

    
      
        
        

      

      
        23

        
          

        

      

      
        
        

      

    

    F. EXCEPT
      WITH RESPECT TO THE INDEMNIFICATION OBLIGATIONS SET FORTH IN SECTIONS 13.A,
      13.B
      AND 14, IN NO EVENT SHALL EITHER PARTY BE LIABLE (1) FOR LOSS OF PROFITS OR
      INCIDENTAL, INDIRECT, SPECIAL, OR CONSEQUENTIAL OR OTHER SIMILAR DAMAGES ARISING
      OUT OF ANY BREACH OF THE TERMS OF THIS AGREEMENT OR OBLIGATIONS UNDER THE TERMS
      OF THIS AGREEMENT, NOR (2) FOR AGGREGATE DAMAGES EXCEEDING AMOUNTS PAID TO
      EYETEL UNDER THIS AGREEMENT, NOR (3) FOR ANY PARTICULAR CLAIM OR DISPUTE,
      EXCEEDING AMOUNTS PAID TO EYETEL UNDER THIS AGREEMENT DURING THE TWELVE (12)
      MONTHS IMMEDIATELY PRECEDING THE ACT, OMISSION OR EVENT GIVING RISE TO THE
      RELEVANT LIABILITY. For the avoidance of doubt, neither party will be liable
      to
      the other on account of termination or expiration of this Agreement for
      reimbursement or damages for the loss of goodwill, prospective profits, or
      anticipated income, or on account of any expenditures, investments, leases
      or
      commitments made by such party or for any other reason whatsoever based upon
      or
      growing out of such termination or expiration. THE PARTIES ACKNOWLEDGE THAT
      THIS
      SECTION HAS BEEN INCLUDED AS A MATERIAL INDUCEMENT FOR THE OTHER PARTY TO ENTER
      INTO THIS AGREEMENT AND THAT THE OTHER PARTY WOULD NOT HAVE ENTERED INTO THIS
      AGREEMENT BUT FOR THE LIMITATIONS OF LIABILITY AS SET FORTH HEREIN.

    

    G. In
      the
      event that a party does not obtain the insurance called for hereunder, the
      other
      party shall have the right, after providing thirty (30) days written notice,
      to
      obtain and pay for such insurance on such breaching party’s behalf (or in the
      alternative to obtain insurance coverage for itself with respect to the same
      risks) and deduct the cost of such insurance from all amounts otherwise due
      from
      such paying party to such breaching party.

    

    H. All
      insurance called for under this Agreement shall be maintained during the term
      of
      this Agreement and for five (5) years after its termination.

    

    14. CONFIDENTIAL
      INFORMATION

    

    A. It
      is the
      intention of the parties that only a limited amount of Confidential Information
      of either party will be provided to the other and that, prior to providing
      Confidential Information to the other party, the disclosing party shall inform
      the receiving party that it is about to disclose Confidential Information in
      order to give the receiving party the opportunity to opt out of receiving such
      information. For purposes of this Agreement, “Confidential Information” of a
      party includes all information provided to the other party that the disclosing
      party has either marked as confidential or proprietary, or has identified as
      confidential or proprietary prior to disclosing such information to the
      receiving party, whether in writing or any other form and any copy thereof,
      and
      whether or not patentable or protectable by copyright, or developed or acquired
      by, or entrusted by a third party to, each party, including, but not limited
      to,
      data, plans for present and future research and development, marketing
      information, pricing, business plan(s), “know how,” methods, service techniques
      or plans, engineering data, software, trade secrets, designs, samples,
      specifications, customer lists, names, contact information, addresses, telephone
      numbers, and email addresses. Confidential Information of a party is the
      exclusive property of such party, is among such party’s valuable assets, and its
      value to that party may be lost by its unauthorized use or disclosure to Persons
      not related to such party. A party receiving Confidential Information of the
      other party shall maintain in confidence such Confidential Information to the
      same extent such party maintains its own confidential or proprietary information
      or trade secrets of similar kind and value (but at a minimum each party shall
      use commercially reasonable efforts to maintain such Confidential Information
      in
      confidence). Neither party shall, directly or indirectly, use the other party’s
      Confidential Information received hereunder or disclose or disseminate it to
      any
      Person (other than directly in connection with its obligations hereunder) during
      the term of this Agreement or at any time thereafter (subject to the exceptions
      below), regardless of the reason for such expiration, without the express
      written consent of the other party. This obligation of confidentiality shall
      not
      apply to any Confidential Information which (i) was properly and lawfully known
      to the receiving party at the time of receipt without any misconduct or duty
      to
      keep such information confidential on the receiving party’s part; (ii) was in
      the public domain at the time of receipt; (iii) becomes public through no
      wrongful act of the party obligated to keep it confidential; (iv) is properly
      received by the receiving party from a third party who did not thereby violate
      any confidentiality obligations to the disclosing party; or (v) was
      independently developed by the receiving party without the use of Confidential
      Information disclosed by the disclosing party. Notwithstanding the foregoing,
      a
      party may disclose Confidential Information of the other party to the extent
      such party reasonably determines, in consultation with its legal counsel, that
      such disclosure is required by applicable law, provided that in such event
      the
      disclosure shall be as limited as possible, the disclosing party shall first
      provide notice of such expected disclosure to the non-disclosing party, and
      the
      non-disclosing shall be given appropriate time and access to obtain counsel
      to
      challenge the necessity of the disclosure. Notwithstanding the termination
      of
      this Agreement, this Section 14.A shall survive for a period of five (5) years
      from the date of such termination, or until the relevant information is no
      longer subject to protection as a trade secret (through no fault of the
      receiving party), whichever period is longer. For avoidance of doubt, the terms
      of this Section 14 are intended to supersede all other prior confidentiality
      agreement between the parties, including, without limitation, the
      Confidentiality and Nondisclosure Agreement, dated July 31, 2006, with respect
      to all information received or disclosed after the Effective Date.

    

    
      
        
        

      

      
        24

        
          

        

      

      
        
        

      

    

    B. Each
      party agrees not to hire or attempt to hire employees of the other party without
      its prior written consent during the term of this Agreement and for two (2)
      years thereafter.

    

    C. In
      the
      event this Agreement is terminated for any reason, each party agrees to return
      to the other party all demonstration equipment and return and/or destroy all
      samples, Confidential Information, and other property of the other party within
      sixty (60) days after the date of such termination.

    
 

    15. MISCELLANEOUS

    

    A. This
      Agreement and the exhibits attached hereto constitute the entire Agreement
      between NEUROMetrix and EyeTel relating to the subject matter hereof, and
      supersede all prior understandings or agreements related to such subject matter.
      This Agreement may be amended or modified only in writing signed by both
      parties. This Agreement may only be assigned pursuant to the terms hereof,
      and
      any assignment not in compliance with such terms shall be null and void and
      of
      no further force and effect. Any notice to be given pursuant to this Agreement
      will be deemed given (i) three (3) days after deposit in priority, certified
      U.S. mail, return receipt requested, postage prepaid, (ii) one (1) day after
      deposit with a nationally recognized, overnight courier service, or (iii) upon
      date of facsimile provided that such facsimile is followed by a paper copy
      delivered pursuant to (i) or (ii), in all cases addressed to the party being
      notified at the address set forth below such party’s signature. Such addresses
      may be changed from time to time pursuant to this Section.

    

    B. In
      the
      event that any provision or provisions of this Agreement shall be held by a
      court or other tribunal of competent jurisdiction to be unenforceable, such
      provision will be enforced to the maximum extent permissible and the remaining
      portions of this Agreement shall remain in full force and effect.

    

    C. Any
      dispute, controversy, or claim relating to this Agreement (a “Dispute”) will be
      attempted to be resolved first through good faith negotiations between the
      parties. If the Dispute cannot be resolved through good faith negotiation within
      thirty (30) days (the “Pre-Arbitration Period”), either party may submit the
      Dispute to the office of the American Arbitration Association (“AAA”) in Boston,
      Massachusetts for binding arbitration in accordance with the AAA’s Commercial
      Arbitration Rules then in effect, as amended by this Agreement. The cost of
      the
      arbitration, including the fees and expenses of the arbitrator(s), will be
      shared equally by the parties, with each party paying its own attorney’s fees.
      The arbitrator(s) will have the authority to apportion liability between the
      parties, but will not have the authority to award any damages or remedies not
      available under the express terms of this Agreement. The arbitration award
      will
      be presented to the parties in writing, and upon the request of either party,
      will include findings of fact and conclusions of law, and will be delivered
      within thirty (30) days. The award may be confirmed and enforced in any court
      of
      competent jurisdiction. With regards to any action for breach of confidentiality
      or intellectual property obligations, nothing in this Section shall preclude
      either party from seeking interim equitable relief in the form of a temporary
      restraining order or preliminary injunction in any court of competent
      jurisdiction, and the parties each hereby consent to the personal jurisdiction
      of the courts located within either the Commonwealth of Massachusetts or the
      State of Maryland. Any such request by a party of a court for interim equitable
      relief shall not be deemed a waiver of the obligation to arbitrate hereunder.
      Notwithstanding the foregoing, for Disputes arising pursuant to Section 6.G.ii:
      (i) the parties shall not be subject to the Pre-Arbitration Period; (ii) the
      arbitration shall use AAA’s expedited arbitration process; and (iii) the parties
      shall use their best efforts to have the arbitration award presented within
      sixty (60) days of the Dispute’s submission to AAA.

    

    D. Neither
      party shall be liable to the other for any breach or nonperformance of this
      Agreement for any reason beyond its control including (without limitation)
      acts
      of terror, war, strikes, action by any governmental agency, riot, embargoes,
      acts of civil or military authorities, fire, floods, accidents, strikes, failure
      to obtain export licenses or shortages of transportation, facilities, fuel,
      energy, labor or materials. If any such event of force majeure arises, the
      parties shall, as soon as practical, meet to consider the action to be taken
      to
      deal with the situation, and no steps shall be taken by either party to
      terminate this Agreement for a period of at least sixty (60) days following
      the
      occurrence or commencement of the event in question.

    

    
      
        
        

      

      
        25

        
          

        

      

      
        
        

      

    

    E. NEUROMetrix
      and EyeTel are each independent contractors and are not and will not be deemed
      to be employees, joint venture partners, franchisees, trust, agents, or any
      other form of legal association of the other party for any purposes whatsoever,
      including without limitation this Agreement is not to be construed to create
      any
      employer-employee relationship between NEUROMetrix and EyeTel or employees
      of
      either party.

    

    F. The
      laws
      of the Commonwealth of Massachusetts, without regard to the conflicts of law
      provisions thereof, will govern any disputes arising in connection with this
      Agreement.

    

    G. [Reserved]

    

    H. Each
      party acknowledges that any breach of its obligations under this Agreement
      with
      respect to the proprietary rights or Confidential Information of the other
      party, including the exclusive license granted hereunder, will cause the other
      party irreparable injury for which there are inadequate remedies at law, and
      therefore the party will be entitled to equitable relief in addition to all
      other remedies provided by this Agreement or available at law (without the
      requirement of posting bond).

    

    I. This
      Agreement may be executed in one or more counterparts, each of which shall
      be
      considered an original, and shall become a binding agreement when each party
      shall have executed one counterpart. One or more counterparts may be delivered
      via telecopier with the intention that they shall have the same effect as an
      original counterpart thereof.

    

    J. Neither
      party shall assign or transfer this Agreement or any rights or obligations
      hereunder without the prior written consent of the other party, except that
      each
      party is expressly permitted to make an assignment of this Agreement in its
      entirety without the other party’s consent to an entity that acquires all or
      substantially all of the assets of such party, whether in a merger,
      consolidation, reorganization, acquisition, sale or otherwise. Any third party
      that shall become an assignee of this agreement pursuant to this
      Section 15.J must execute an agreement expressly agreeing to be bound by
      the terms and conditions contained herein and to accept the obligations and
      responsibilities of the party that is assigning its rights to such third
      party.

    

    K. All
      licenses granted under or pursuant to this Agreement by EyeTel to NEUROMetrix
      are, and shall otherwise be deemed to be, for purposes of Paragraph 365(n)
      of
      the U.S. Bankruptcy Code (the “Code”), licenses to rights in “intellectual
      property” as defined in the Code. The parties hereto agree that NEUROMetrix, as
      a licensee of such rights under this Agreement, shall retain and may fully
      exercise all of its rights and elections under the Code. The parties hereto
      further agree that, in the event of the commencement of a bankruptcy proceeding
      by or against EyeTel including a proceeding under the Code, NEUROMetrix shall
      be
      entitled to a complete duplicate of (or complete access to, as appropriate)
      any
      such intellectual property and all embodiments of such intellectual property,
      and the same, if not already in NEUROMetrix’s possession, shall be promptly
      delivered to NEUROMetrix upon any such commencement of a bankruptcy proceeding
      upon written request therefore by NEUROMetrix.

    

    
      
        
        

      

      
        26

        
          

        

      

      
        
        

      

    

    L. EyeTel
      reserves all rights not expressly granted in this Agreement. NEUROMetrix
      acknowledges and agrees that, subject to the licenses granted herein, EyeTel
      retains title to all intellectual property rights of any nature that are
      embodied in or practiced by the use of any Products and the performance of
      any
      EyeTel Services. 

    

    [Signature
      Page Follows]

     

    
      
        
        

      

      
        27

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, this Agreement is hereby executed as of the date first written
      above by the parties set forth below.

     

    
      	 	 	EyeTel Imaging, Inc 
	 	 	 
	NeuroMetrix,
              Inc.  	 	 
	 	 	 
	 	 	 
	
              
                By: 
                  /s/  Gary L. Gregory

              

            	 	
              By: 
                /s/ John C. Garbarino

            
	
              
                

              

              Name:
                Gary L. Gregory
Its: Chief Operating
                Officer 

            	 	
              
                

              

              Name:
                John C. Garbarino

              Its: President and Chief Executive
                Officer

            
	
              Address: 62
                Fourth Street

              Waltham,
                MA 02451

            	 	
              Address: 9130 Guilford Road

              Columbia,
                MD 21046 

            
	 	 	 
	
              Facsimile:
                781-890-1556 

            	 	
              Facsimile:
                301-483-6168 

            

    

     

     

    

    
      
        
          Signature
            Page

        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      A

    

    Products

    

    DigiScope

    

    

    

    EyeTel
      Services

    

    Scan
      Services

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      B

    

    Excluded
      Products

    

    To
      be
      determined by mutual agreement from time to time

    

    Excluded
      EyeTel Services

    

    To
      be
      determined by mutual agreement from time to time 

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      C

    

    EyeTel
      Marks

    

    

    

    

    

    The
      EyeTel Marks shall include:

    

    EyeTelTM

    

    EyeTel
      ImagingTM

    

    The
      EyeTel Imaging logo (as used or modified by EyeTel from time to
      time)

    

    DigiscopeTM

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      D

    

    Form
      of Warrant

    

    

    See
      Exhibit 4.5

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      E

    

    

    EyeTel
      Imaging, Inc. - Capitalization as of 10/24/06

    

    

    
      	
              Class/Series
                of Stock

            	
              Number
                of Shares
Outstanding

            	
              Reserved
                for Issuance

            
	
              Common
                Stock

            	
              619,1072 

            	
              2,297,1833

            
	
              Series
                B Preferred Stock

            	
              13,704,875

            	
              297,7034

            

    

    

     

    
 

    
      
        

      

    

    
      
        2
          Excludes
          112,443 shares of restricted stock issued to Donald A. Fosanto.

         

      

      
        3
          Consists
          of 55,120 and 2,139,474 shares reserved for issuance under the 2002 and
          2004
          Equity Incentive Plans, respectively, and 102,589 shares reserved for issuance
          upon exercise of warrants. Also excludes 744,750 shares approved by the
          board of
          directors of EyeTel for issuance under the 2004 Equity Incentive Plan still
          pending shareholder approval.

         

      

      
        4
          Shares
          reserved for issuance upon exercise of warrants.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00122-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00122-of-00352.parquet"}]]