Document:

EXECUTION COPY

Exhibit 10.30

** Information marked as "[redacted**]" has been omitted pursuant to a request for confidential treatment and has been filed separately with the Securities and Exchange Commission.

 

AMENDMENT No. 1

 

AMENDMENT AGREEMENT, dated as of October 21, 2009 (the “First Amendment”), to the Product Development and Marketing Agreement, dated as of January 1, 2009 (the “Distribution Agreement”), between Codman & Shurtleff, Inc., having an address at 325 Paramount Drive, Raynham, MA 02767, a New Jersey corporation ("Codman"), and Synergetics USA, Inc., having an address at 3845 Corporate Centre Drive, O'Fallon, Missouri  63368, a Delaware corporation ("Synergetics" and together with Codman, the “Parties” and each, individually, a “Party”).

 

WHEREAS, Synergetics makes and sells a certain neurosurgical forceps under the brand name ‘SpetzlerTM-Malis®’ (as such product is further described on Exhibit A attached hereto, the “Spetzler-Malis Forceps” or the “Product”) that is not included within the scope of the Distribution Agreement and the Parties desire pursuant hereto to extend the scope of the Distribution Agreement to cover the Spetzler-Malis Forceps;

 

NOW, THEREFORE, in consideration of the mutual promises, covenants and agreements hereinafter set forth, the parties hereto agree as follows:

		1.	The Distribution Agreement is hereby amended to include the Spetzler-Malis Forceps as an “Exclusive Product” under Section 2.01(b) and the new defined term  “Spetzler-Malis Forceps” is hereby added to Article One as follows:

“Spetzler-Malis Forceps” means the Spetzler-Malis® bipolar forceps listed on Schedule A attached hereto.

		2.	Schedule A (Existing Products), Schedule D (Product Specifications) and Schedule E (Non-Binding Forecast) to the Distribution Agreement are hereby replaced with the corresponding Schedules attached hereto in order to reflect the Spetzler-Malis Forceps as an Exclusive Product and to set forth its pricing, order lead times and initial purchase forecast volumes.

		3.	Section 3.02 (Package Labeling) of the Distribution Agreement is hereby replaced with the following new Section 3.02:

“3.02  Packaging and Labeling.

(a)            Unless otherwise agreed by the Parties, CODMAN shall be responsible for packaging the Existing Products, other than the Spetzler-Malis® Forceps, in finished package form.  Synergetics shall be responsible for packaging the Spetzler-Malis Forceps in finished package form in accordance with the packaging specifications set forth in Schedule D.

(b)            For all Existing Products, Synergetics shall be responsible for the text, content and regulatory compliance of the labels on the package and the product, the labeling and product package inserts.   For purposes of this Agreement the terms “label” and “labeling” shall have the meanings set forth in Sections 201(k) and 201(m) respectively of the U.S. Federal Food, Drug and Cosmetics Act.  Synergetics shall provide the English version of all Existing Product labels to CODMAN.

 

Amendment No. 1 to Distribution Agreement

Exhibit 10.30

 

(c)            Synergetics shall have the right to apply reasonable patent marking on the Existing Products indicating Synergetics’ Patents covering the Existing Products, as well as reasonable marking (i) on those products that Synergetics manufactures indicating such manufacture by Synergetics and (ii) that the Malis trademark (and in the case of the Spetzler-Malis Forceps, the SpetzlerTM trademark) is used under license from Synergetics; provided, however that it is understood and agreed that this clause (c) shall be applied prospectively as new labeling is developed and existing Existing Product packaging inventories are drawn down.  For the avoidance of doubt, the parties agree that CODMAN is not required to repackage any Existing Products solely to comply with this clause (c).

(d)            For all Existing Products other than the Spetzler-Malis® Forceps, CODMAN shall be responsible for copy format, artwork preparation, translations and production and all related costs for the labeling, including, but not limited to, translations and production shall be the responsibility of CODMAN.  With respect to the Spetzler-Malis® Forceps, Synergetics shall be responsible for copy format, artwork preparation, translations and production and all related costs for the labeling, including, but not limited to, translations and production, all in accordance with labeling specifications agreed between the Parties.”

		4.	Section 3.06(b) (Government Registrations) of the Distribution Agreement is hereby replaced with the following new Section 3.06(b):

“(b)         (i)   Synergetics shall apply for and maintain, in its name and at its cost, a CE-Mark (or any other required EU-wide Governmental Registration) for all Existing Products during the Term in the European Union and CODMAN shall apply for and maintain in its name and at its cost any other (i.e., national or local) Governmental Registrations in EU member states for CODMAN and/or its relevant affiliates to market all Existing Products during the Term in the European Union.

(ii)  If the Parties agree that CODMAN will be identified as the legal manufacturer on product label and labeling of an Existing Product in the European Union, CODMAN shall apply for and maintain, in its name and at its cost, an Own-Brand Label Government Registration required to market that Existing Product during the term in the European Union under the CODMAN name. 

(iii)  Synergetics shall apply for and maintain, in its name and at its cost all Governmental Registrations required for CODMAN to market all Existing Products during the Term in the United States.

(iv) CODMAN and/or its relevant affiliates shall apply for and maintain, in its name and at its cost, all Governmental Registrations required for CODMAN and/or its relevant affiliates to market all Existing Products during the Term in countries other than the United States or the European Union. 

(v)  Synergetics shall reasonably cooperate with CODMAN in its efforts to obtain any Governmental Registrations under clauses (ii) or (iv), above.

                       (vi)  Synergetics agrees that CODMAN shall have access, upon ten (10) days’ prior written notice, to all of Synergetics’ documents required to complete all Governmental Registrations for the Existing Products to the extent necessary to enable CODMAN to exercise its rights or fulfill its obligations hereunder.  Likewise, CODMAN agrees that Synergetics shall have access, upon ten (10) days’ prior written notice, to all of CODMAN’s non-confidential regulatory submissions for the Existing Products.”

		5.	Section 3.06(c) (EU Authorized Representative) of the Distribution Agreement is hereby deleted in its entirety.

 

Amendment No. 1 to Distribution Agreement

Exhibit 10.30

 

		6.	Section 4.07 (Medical Device Reports) of the Distribution Agreement is hereby replaced with the following new Section 4.07:

“4.07 Medical Device Reports.   The Parties agree to cooperate in good faith with respect to responding to or making any Medical Device Reports (“MDRs”) pertaining to the Existing Products.  Synergetics and CODMAN shall actively cooperate in investigating the circumstances underlying the Medical Device Report and in responding to FDA inquiries.   Synergetics shall file any necessary manufacturer MDRs for all complaints that are found to meet the definition of MDR reportable events (as defined in 21 CFR, Part 803); provided that (i) with respect to Disposable Products (other than the Spetzler-Malis Forceps), CODMAN shall file any necessary manufacturer MDRs for all complaints that are found to meet the definition of MDR reportable events (as defined in 21 CFR, Part 803) and (ii) with respect to Spetzler-Malis Forceps, (A) CODMAN will provide timely  notification to Synergetics of any product complaints it receives, (B) Synergetics will be responsible to investigate all complaints received and to make MDR reporting determinations and filings as required under Part 803, (C) Synergetics will provide to CODMAN a copy of the completed investigation files as well as copies of any MDRs submitted within 60 days of receipt of the complaint information.”

		7.	A new Section 3.09 (Samples) shall be added to the Distribution Agreement as follows:

“3.09            Samples.   Synergetics shall provide to CODMAN unpackaged, non-sterile Spetzler-Malis Forceps samples (“Forceps Samples”) in such quantities as CODMAN may reasonably request, up to but not in excess of 100 forceps annually, in support of its distribution activities under this Agreement, subject to the lead times and shipping terms otherwise applicable to the supply of finished product.  The price to CODMAN of the Forceps Samples shall be seventy percent (70%) of the then-current transfer price to CODMAN of the Spetzler-Malis Forceps.”

		8.	Consistent with the provisions of Section 3.06(a) of the Distribution Agreement, Synergetics agrees to achieve compliance with IEC 60601-2-2:2006; 4th Edition (Particular Requirements for the Safety of High Frequency Surgical Equipment) prior to December 1, 2009, in order to enable commercial sales of the Spetzler-Malis Forceps in the European Union.

		9.	The Product Specifications referenced in Schedule D attached hereto include specifications for outer packaging that reflects CODMAN as exclusive distributor.  The Parties agree, however, that until March 31, 2010, Synergetics may supply Spetzler-Malis Forceps to CODMAN in the existing outer packaging for such products as used by Synergetics on the date hereof, provided that Synergetics uses only inventory of such packaging that (i) is already in existence as of the date hereof and (ii) meets Synergetics’ own specifications as of the date hereof for such packaging.

		10.	CODMAN acknowledges that the price reductions for the Spetzler-Malis Forceps, effective on January 1 , 2010, and thereafter, as described on Schedule A attached hereto, assume the implementation of certain cost-savings measures by Synergetics that may require one or more changes to the Product Specification which have not yet been reviewed or approved by CODMAN.   In the event that CODMAN does not agree to any such Product Specification change, the Parties agree to renegotiate in good faith what, if any, reduction in the price would be effective on and after January 1, 2010.

		11.	Synergetics has licensed certain trademarks under a License Agreement, dated February 20, 1998, with Robert F. Spetzler, M.D. (the “Spetzler License Agreement”).  Synergetics hereby sublicenses to CODMAN its rights to the Licensed Marks (as defined in the Spetzler License Agreement) and Codman accepts such sublicense and agrees to abide by the terms and conditions of such license set forth in the Spetzler License Agreement.  The Malis trademark shall be used by Codman under the Trademark License Agreement between the Parties dated January 1, 2009, which shall be and is hereby amended to include the Spetzler-Malis Forceps in Schedule A attached thereto.

 

Amendment No. 1 to Distribution Agreement

Exhibit 10.30

 

		12.	Miscellaneous Provisions.

		a.	Effectiveness.  CODMAN’s distribution rights under this Amendment shall become effective upon, and CODMAN shall commence commercial sales of the Spetzler-Malis Forceps on, December 1, 2009 in the United States (the “US Effective Date”) and on the date that is the later of February 1, 2010, or three (3) months after the date hereof outside the U.S (the “Ex-US Effective Date”); provided that CODMAN shall have no distribution rights in Italy until the date that is the later of February 15, 2010, or four (4) months after the date hereof.

		b.	General Representation and Warranty.  Each Party represents and warrants to the other that the execution and delivery of this Amendment and the performance of the obligations contemplated hereunder do not violate any law, rule or regulation or order, judgment or decree binding upon the representing Party and will not result in a breach of any term of the certificate of incorporation or by-laws of the representing Party or of any contract, agreement or other instrument to which it is a party.

		c.	Conduct of Business Pending Effectiveness.  Other than as necessary to comply with its obligations under this Amendment or as the Parties may otherwise agree in writing, between the date of this Amendment and the US Effective Date and Ex-US Effective Date, Synergetics shall (i) conduct its Spetzler-Malis Forceps business in the ordinary course consistent with its past practice, and (ii) not materially accelerate or delay any Spetzler-Malis Forceps sales or make any material payments, discount activity or any other consideration to distributors or customers other than in the ordinary course of business consistent with its past practice and (iii) not sell into the trade inventory materially in excess of those amounts which are required to maintain reasonable levels of trade inventory of Spetzler-Malis Forceps consistent with past practices.

		d.	Governing Law. The Amendment shall be governed by and construed in accordance with the laws of the State of New Jersey, without giving effect to the choice of law provisions thereof.

		e.	Counterparts.  This Amendment may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

(signature page follows)

 

Amendment No. 1 to Distribution Agreement

Exhibit 10.30

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their duly authorized respective representatives as of the day and year first above written.

	
CODMAN & SHURTLEFF, INC.

	
 

	
 

	
 

	
 

	
By:

	
/s/ P. Laxminarain

	
 

	
Name: 

	
Prattipati Laxminarain

	
 

	
Title: 

	
President

	
 

	
 

	
 

	
 

	
SYNERGETICS, INC.

	
 

	
 

	
 

	
 

	
By: 

	
/s/ David Hable

	
 

	Name:	David Hable	
	Title:	President and Chief Executive Officer	

Amendment No. 1 to Distribution Agreement

Exhibit 10.30

Exhibit A to Amendment No. 1

SCHEDULE A

EXISTING PRODUCTS

[Redacted** (3 pages)]

 

** Information marked as "[redacted**]" has been omitted pursuant to a request for confidential treatment and has been filed separately with the Securities and Exchange Commission.

 

Amendment No. 1 to Distribution Agreement

Exhibit 10.30

Exhibit B to Amendment No. 1

SCHEDULE D

PRODUCT SPECIFICATIONS

[Redacted** (3 pages)]

 

** Information marked as "[redacted**]" has been omitted pursuant to a request for confidential treatment and has been filed separately with the Securities and Exchange Commission.

 

Amendment No. 1 to Distribution Agreement

Exhibit 10.30

Exhibit C to Amendment No. 1

SCHEDULE E

NON-BINDING FORECAST

[Redacted** (2 pages)]

 

** Information marked as "[redacted**]" has been omitted pursuant to a request for confidential treatment and has been filed separately with the Securities and Exchange Commission.

 

Amendment No. 1 to Distribution AgreementEXECUTION COPY

Exhibit 10.31

 

** Information marked as "[redacted**]" has been omitted pursuant to a request for confidential treatment and has been filed separately with the Securities and Exchange Commission.

TRADEMARK LICENSE AGREEMENT

 

THIS TRADEMARK LICENSE AGREEMENT (“Agreement”) is made effective as of January 1, 2009 (“Effective Date”) by and between Synergetics IP, Inc., a Delaware corporation having a place of business at 3845 Corporate Centre Drive, O’Fallon, MO 63368 (“Licensor”), and Codman & Shurtleff, Inc., a Massachusetts corporation having a place of business at 325 Paramount Drive, Rayham, MA 08767 (“Licensee”) (collectively, the “Parties”).

 

WHEREAS, Licensee develops, manufactures and markets medical instruments, implants and accessories in the field of neurocranial and neurospinal surgery, including instruments marketed under the MALIS trademark pursuant to that certain Trademark License Agreement dated January 1, 2006, between the PartiesWHEREAS, Licensor is the current owner of the MALIS Trademark;

 

WHEREAS, simultaneously with the execution of this Agreement, the parent company of Licensor, Synergetics USA, Inc. (“Parent”), and Licensee are entering into that certain Product Development and Marketing Agreement, dated even date herewith, providing for, among other things, the distribution by Licensee in the Fields (as defined below) of certain products manufactured by Parent (the “Distribution Agreement”);

 

WHEREAS, Licensee wishes to obtain, and Licensor wishes to grant to Licensee, a license to use the MALIS trademark in connection with the advertising, use and sale in the Fields of certain products in addition to those products covered by the Distribution Agreement;

 

NOW THEREFORE, in consideration of the mutual covenants and obligations contained herein, the Parties agree as follows:

 

	1.	Definition of Trademarks.  As used in this Agreement, “Trademarks” shall mean the registered word mark, MALIS, as described and defined in U.S. Registrations No. 873,123 and 1,644,328 and all trademark applications and resulting registrations based thereon throughout the world.

	2.	Grant of License.  Subject to the terms and conditions of this Agreement, Licensor hereby grants to Licensee and Licensee hereby accepts, a sole (i.e., no additional licensees), non-transferable license for the term of this Agreement to use the Trademarks and associated goodwill with respect to the advertising, use and sale of the specific products set forth in Schedule A, attached hereto and incorporated herein by reference (the “Products”) along with any MALIS-marked products added from time to time to the Existing Products of Schedule A of the Distribution Agreement by mutual consent of the Parties, in the fields of neurocranial and neurospinal surgery (the “Fields”) to the extent of Licensor’s rights throughout the world.  Licensor retains for itself and its affiliates the right to use the Trademarks in the Fields throughout the world, both directly, and indirectly through its resellers.  Notwithstanding the foregoing, in the event that Licensee elects pursuant to Section 2.01(c) or Section 3.08 of the Distribution Agreement to directly or indirectly offer to sell a competing product in the manner specified in such sections of the Distribution Agreement such that all Exclusive Products cease to be “exclusive” and become “nonexclusive” under the terms of the Distribution Agreement, the sole license granted herein shall simultaneously become non-exclusive, such that Licensor shall be free to grant licenses to third parties to use the Trademarks for uses similar or identical to the licensed use.  By mutual written agreement the parties may extend the license to cover other products not specifically listed in Schedule A.  The license does not include the right to grant sublicenses or to otherwise permit others to use the Trademarks, except that Licensee may contract with appropriate manufacturers and distributors of Products to manufacture, market, promote, advertise and sell such products.  Any action inconsistent with the terms of this Agreement by a manufacturer or distributor doing business with Licensee and authorized to imprint the Trademarks or apply tags or labels containing the Trademarks or otherwise mark product with the Trademarks will constitute a default by Licensee subject to the terms set forth in Section 9.1 below.  Licensor retains all rights not expressly licensed under this Agreement.

 

	3.	Use of Trademarks.  Use of the Trademarks by Licensee is and will be subject to the following terms and restrictions:

 

		3.1	Licensee will conduct all of its activities hereunder and in the Distribution Agreement in compliance with all applicable local, state and national laws and administrative regulations.

 

		3.2	Licensee will use the Trademarks and will conduct business only in a manner that in Licensor’s reasonable discretion reflects and promotes the positive image of the Licensor and Parent.  For purposes of the foregoing, Licensee’s continuation of its business and the use of the Trademarks in a manner consistent with its past practices shall be deemed to reflect and promote the positive image of the Licensor and Parent.

 

		3.3	Licensee shall not make any statements, representations or warranties or accept any liabilities or responsibilities whatsoever to or with regard to any person or entity which are inconsistent with this Agreement.

 

		3.4	Each Product must prominently bear one or more of the Trademarks, where practicable, and Licensee agrees to use the Trademarks prominently in conjunction with the advertising, use and sale of Products.  Nothing herein shall preclude Licensee from use or display of its own name or trademarks in conjunction with the advertising, use and sale of Products under this Agreement except that Licensee shall observe the brand standard guidelines established by previous practice.

 

		3.5	Licensee shall not use the Trademarks for any purpose other than for the licensed purpose as set forth in this Agreement.

	4.	Royalty.  Licensee shall pay quarterly to Licensor a royalty that is equivalent to the below stated percentage of its Net Proceeds from Sales of Products sold during such quarter pursuant to the license granted herein.

 

		4.1	The royalty rate for Products set forth on Schedule A shall be [redacted**] unless and until Licensee exercises the Exclusivity Option of Section 2.02 of the Distribution Agreement, after which the royalty rate for electrosurgical generators sold exclusively by Licensee thereunder shall be [redacted**].

 

		4.2	Royalties shall be calculated and paid quarterly for all Products sold during each Licensee fiscal quarter, Royalties shall be payable immediately at the end of such fiscal quarter, and are due to be received by Licensee within forty-five (45) calendar days following the end of each Licensee fiscal quarter for all sales made during such Licensee fiscal quarter.  In the event such royalty payments are not paid when due, Licensee shall be obligated to pay to Licensor interest on the total amount past due (including accrued interest) at a rate of one percent (1%) per month or portion thereof that said payment is late.

 

		4.3	It is understood that on sales by Licensee to its sublicensees or affiliatedcompanies of a particular Product, royalties shall be paid on such sales on theaverage United States Net Proceeds from Sales for that instrument in the quarterlyperiod in which the sale is made regardless of the actual price at which the instrument is sold to an affiliated company or sublicense or to the ultimate user of the instrument.  Licensee will pay only a single royalty per device sold by Licensee or its sublicensees or affiliates.

 

		4.4	For purposes of this Agreement, “Net Proceeds from Sales” shall meanLicensee’s billing price of Products, less discounts allowed, credits for claims orallowances, returns, and less taxes or other government charges added to the faceof the invoice and paid by Licensee.

 

		4.5	Licensee shall keep true books of account containing an accurate and complete record of all data necessary for the computation of royalties payable to Licensor hereunder.  Licensor shall, at its own expense, have the right to nominate an independent certified public accountant who shall have access, during reasonable business hours, but no more than once per year, to such of Licensee’s records as are necessary to verify the accuracy of the royalty payments made under this license.  If in an audit of Licensee’s records it is determined, and not disputed, that there is a shortfall in royalties reported for any reporting period under this Agreement, Licensee shall, upon request by Licensor, pay such shortfall (with interest as described in Section 4.2) within ten (10) business days and, if the shortfall is three percent (3%) or more in royalties reported for the audited period, Licensee shall also reimburse Licensor for the reasonable out-of-pocket costs of the audit.

 

** Information marked as "[redacted**]" has been omitted pursuant to a request for confidential treatment and has been filed separately with the Securities and Exchange Commission.

	5.	Ownership Rights.  Licensee acknowledges Licensor’s exclusive right, title and interest in and to the Trademarks.  Licensee will not do or cause to be done any act or thing which contests or in any way impairs or tends to impair any part of such right, title and interest, or any other right of Licensor in the word mark MALIS anywhere around the world.  Upon termination of this Agreement, Licensee will cease and desist from all use of the Trademarks.  Licensee will at no time during or after the term of this Agreement adopt or use any word or mark that is confusingly similar to the Trademarks with respect to any business activity except as specifically permitted in this Agreement.  Licensee acknowledges and agrees that all goodwill relating to the Trademarks and all uses of the word mark MALIS by Licensee shall inure to the benefit of Licensor.

 

	6.	Trademarks Notices and Registrations.   Where requested by Licensor, Licensee shall cause to be placed adjacent to all use of the Trademarks the letter R in a circle (®).  Upon request, Licensee will provide Licensor with reasonable documentation to support trademark application, registration, and renewal requirements .

 

	7.	Quality Control.  Licensee shall use the Trademarks only on Products that shall be produced by or on behalf of Licensee in accordance with the standards and specifications originating with and/or approved by Licensor.  It is agreed that the standards and specifications presently employed for instruments currently distributed by Licensee in association with the Trademarks shall be deemed the standards and specifications of Licensor for such instruments under this Agreement.  With respect to any new instrument intended for distribution in association with the Trademarks under this Agreement that has been approved in writing by Licensee, Licensee shall use the Trademarks in a manner compatible with the quality control procedures established by Licensor from time-to-time.  Such procedures may include preapproval of advertising and/or other materials displaying the Trademarks.  In the absence of such procedures, Licensee agrees to provide Licensor on or prior to each anniversary date of this Agreement with the opportunity to inspect representative samples showing Licensee’s use of the Trademarks.  Licensee agrees to promptly modify all uses of the Trademarks that are not, in Licensor’s sole discretion, compatible with the quality control procedures established by Licensor.

 

	8.	Inspections.   Licensor may, from time-to-time, but no more than once per year and upon reasonable written notice to Licensee, send representatives to Licensee’s place of business to inspect Licensee’s records and facilities and to confirm Licensee’s compliance with the provisions of this Agreement.  Licensee shall cooperate reasonably with Licensor and its representatives with respect to such inspections.  Licensor shall bear the cost of all such inspections.

 

	9.	Term and Termination.   The term of this Agreement shall commence on the Effective Date hereof and shall continue for a term of three (3) years unless terminated as set out below.  This Agreement shall automatically renew for three years, beginning January 1, 2012, and ending December 31, 2014, unless or until terminated as set out below.

 

		9.1	Licensor may terminate this Agreement without prejudice to any rights under this Agreement, in law, in equity, or otherwise if Licensee breaches any of its material obligations in this Agreement (hereinafter called “defaults”).  If any defaults occur, Licensor may give notice to Licensee of termination.  Licensee shall have 30 days in which to correct all outstanding defaults, and failing such, this Agreement shall terminate.

		9.2	Licensor may terminate this Agreement immediately upon termination of the Distribution Agreement or at any time thereafter.

 

		9.3	Either party may terminate this Agreement on written notice to the other upon appointment of a receiver of the other, or upon the making by the other of an assignment for the benefit of creditors, or upon the institution of proceedings for a reorganization of the other under any bankruptcy laws.

 

		9.4	Any termination of this Agreement shall not operate to relieve Licensee of its obligation to pay all unpaid earned royalties provided under this Agreement.  Licensee shall have the right to sell, at any time after the effective date of termination (unless such termination is as a result of Licensee’s default hereunder), any Products authorized to be sold under this Agreement that are in inventory or are being manufactured on the effective date of termination, subject only to the obligations of Articles 4, 6, 7 and 8.

 

		9.5	Sections 4, 5, 10, 12, 21, and 22 shall survive termination of this Agreement.

 

	10.	 Indemnification.

 

		10.1	Licensor hereby agrees to indemnify, defend and hold Licensee harmless from any and all losses, liabilities, damages, costs and expenses (including reasonable attorneys fees and costs) arising out of any claims, demands, actions, suits or judgments that may be brought or made against Licensee by a third party alleging that Licensee’s use of the Trademarks as authorized hereunder infringes upon the trademark rights of said third party.

 

		10.2	Licensee hereby agrees to indemnify, defend and hold Licensor harmless from any and all losses, liabilities, damages, costs and expenses (including reasonable attorneys fees and costs) arising out of any claims, demands, actions, suits or judgments that may be brought or made against Licensor by a third party due to any improper or unauthorized use of the Trademarks, or arising in any way from the existence, manufacture, advertising, marketing, sale, distribution or use of the Products, except as would nullify Licensor’s indemnity of Licensee in Section 10.1, or as would nullify Licensor’s warranty under the Distribution Agreement.

 

		10.3	For purposes of this Section 10, a reference to either party includes that party’s elected officials, employees, and agents.

	11.	Use of the Licensor’s Name and Trademarks.  Either party shall not, without the prior written consent of the other, in any advertising or other promotional materials to be disseminated to the public: (a) refer to the other party or use the name of the other party in a manner suggesting or inferring a connection, affiliation or sponsorship with the other party; or (b) use the name or likeness of any elected official or employee of the other party, or any trademark, service mark, trade name, or symbol owned by or associated with the other party, other than the Trademarks.

 

	12.	Representations and Warranties.

 

		12.1	Each party represents and warrants to the other that the entering into of this Agreement by such party, and the consummation by it of the matters contemplated hereby, does not and shall not violate any agreement with or obligation under (whether express, implied or by operation of law) any other person, company or entity to which it is a party or subject, and that this Agreement is binding upon it pursuant to the laws of its domicile.

 

		12.2	Licensor represents and warrants to Licensee that it has good and valid title to the Trademarks, free and clear of all liens and encumbrances except for that security interest granted to the Estate of Leonard I. Malis pursuant to that Security Agreement dated October 12, 2005.

 

	13.	Third Party Infringement.  If Licensee learns of the infringement or alleged infringement of the Trademarks by a third party, the Licensee shall promptly notify Licensor with respect thereto.  Licensor shall have sole right to bring any action with respect to such infringement or alleged infringement; provided, however, that Licensor shall not be required to bring any action or otherwise take any action with respect to such infringement or alleged infringement.

 

	14.	Notices.  All notices, approvals, consents and other communications under this Agreement shall be deemed to have been fully given when done in writing, with reference to this Agreement, and when (i) delivered personally; (ii) sent by confirmed email or facsimile; (iii) five days after having been sent by United States mail, registered or certified, return receipt requested, postage prepaid; or (iv) one day after deposit with a commercial overnight carrier, with written verification of receipt.  All communications will be sent to the address set forth in the first paragraph of this Agreement or to such other address as may be designated by a party by giving written notice to the other party.

 

	15.	No Agency or Partnership.  The relationship between the parties is that of independent contractors.  Neither party shall be deemed to be an agent of the other.  This Agreement does not and shall not be construed to constitute a partnership or joint venture between Licensor and Licensee.  Neither party may obligate or bind the other party, and no third party is granted rights hereunder.

 

	16.	Assignment.  This Agreement is personal to Licensee, except that Licensee may transfer this Agreement and its rights to an affiliate company or though a sale of the assets related to the Products.  Neither this Agreement nor any of the rights of Licensee hereunder shall be sold, transferred or assigned by Licensee by operation of law or otherwise, without the prior consent of the Licensor.  Licensor may assign this Agreement.  The covenants, terms and provisions of this Agreement shall be binding upon and inure to the benefit of the parties and their respective permitted successors and assigns.

	17.	Entire Agreement; Amendments.  This Agreement contains the entire understanding of the parties with respect to the matter contained herein.  The parties may, from time to time during the continuance of this Agreement, modify, vary or alter any of the provisions of this Agreement, but only by an instrument duly executed by authorized representatives of both parties hereto.

 

	18.	Waiver.  No waiver by either party of any breach of this Agreement, no matter how long continuing or how often repeated, shall be deemed a waiver of any subsequent breach thereof, nor shall any delay or omission on the part of either party to exercise any right, power, or privilege hereunder be deemed a waiver of such right, power or privilege.

 

	19.	Invalidity.  In the event that any term, provision, or covenant of this Agreement shall be determined by a court of competent jurisdiction to be invalid, illegal or unenforceable, that term will be curtailed, limited or deleted, but only to the extent necessary to remove such invalidity, illegality or unenforceability, and the remaining terms, provisions and covenants shall not in any way be affected or impaired thereby.

 

	20.	Rights and Remedies Cumulative.   The rights and remedies under this Agreement are cumulative and in addition to any other remedies at law or in equity.

 

	21.	Applicable Law.  This Agreement, and the application or interpretation hereof, shall be governed by Missouri law without giving effect to its choice of law provisions.

 

	22.	Further Assurances.  The parties agree to fully cooperate and execute any documents to effectuate or perfect the transactions and matters set forth herein.

 

	23.	Counterparts.  This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which shall constitute one and the same instrument.

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

 

	
SYNERGETICS IP, INC.

	
 

	
CODMAN & SHURTLEFF, INC.

	
 

	
 

	
 

	
 

	
 

	
By: 

	
/s/ Robert H. Dick

	
 

	
By:

	
/s/ P. Laxminarain

	
 

	
Robert H. Dick, Chairman of the Board

	
 

	
 

	
P. Laxminarain, Worldwide President

 

Schedule A

 

[Redacted** (7 pages)]

 

** Information marked as "[redacted**]" has been omitted pursuant to a request for confidential treatment and has been filed separately with the Securities and Exchange Commission.

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