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EXHIBIT 10.10

EXECUTIVE EMPLOYMENT AGREEMENT

     THIS EXECUTIVE EMPLOYMENT AGREEMENT (“Agreement”) is made and entered into effective April 1,
2006, by and between Wireless Ronin Technologies, Inc., a corporation duly organized and existing
under the laws of the State of Minnesota, with a place of business at 14700 Martin Drive, Eden
Prairie, Minnesota 55344 (hereinafter referred to as the “Company”), and John A. Witham, a resident
of the state of Minnesota (hereinafter referred to as “Executive”).

BACKGROUND OF AGREEMENT

	•	 	The Company desires to continue to employ Executive as its Chief
Financial Officer, and Executive desires to accept such
employment.

	•	 	This Agreement provides, among other things, for base compensation
for Executive, a term of employment and severance payments in the
event Executive is terminated without Cause or by reason of a
Change of Control of the Company.

     In consideration of the foregoing, the Company and Executive agree as follows:

ARTICLE 1

EMPLOYMENT

     1.01 Subject to the terms of Articles 3 and 6, the Company hereby agrees to continue to employ
Executive pursuant to the terms of this Agreement, and Executive agrees to such employment as its
Chief Financial Officer, and shall continue to hold such title under the terms of this Agreement.
Executive’s primary place of employment shall be the Company’s executive offices at Eden Prairie,
Minnesota.

     1.02 Executive shall generally have the authority, responsibilities, and such duties as are
customarily performed by the chief financial officer and principal accounting officer of a public
company of similar size and industry, specifically including, without limitation, the following
responsibilities:

(i) working with senior management of the Company and its Board of Directors
(the “Board”) in formulating short and long term goals and developing,
implementing, and executing strategies to attain Company objectives;

(ii) participating as a key member of the senior management team and as the
Chief Executive Officer’s financial advisor in setting and executing on
strategies to meet Company objectives;

(iii) endeavoring to establish and maintain a relationship of trust and
credibility with members of the senior management team, the Board, its
committees, outside auditors and legal counsel;

 

 

(iv) supervising the implementation of the Company’s policies and business
processes in order to meet the corporate governance and internal control
requirements established by the senior management team, the Board and
relevant laws, including, but not limited to: (A) designing and
implementing effective disclosure controls and procedures that are necessary
to insure accurate financial reporting; (B) conducting periodic reviews and
evaluations of the effectiveness of the Company’s disclosure controls and
procedures, including, without limitation, interfacing with the senior
management team and other Company personnel, the Board, Audit Committee,
outside auditors and legal counsel to insure the effectiveness of the
Company’s disclosure controls and procedures; (C) accurately reporting the
results of Company operations and related matters to the Securities and
Exchange Commission, and other regulatory agencies; and (D) acting as a
certifying officer of the Company’s financial reporting under the Exchange
Act and other regulatory agencies;

(v) interfacing with the financial/investment community;

(vi) managing and protecting the Company’s capital and liquid assets and
monitoring and advising management regarding the availability of adequate
capital at all times;

(vii) regularly and systematically appraising and evaluating the Company’s
performance results against the Company’s established objectives; and

(viii) consistent with the foregoing, such other finance functions as the
Chief Executive Officer of the Company may assign to Executive from time to
time during his employment period.

Executive shall also render such additional services and duties within the scope of Executive’s
experience and expertise as may be reasonably requested of him from time to time by the Company’s
chief executive officer or Board.

     1.03 Executive shall report to and be subject to direction by, the Company’s chief executive
officer, and shall be subject to direction, orders and advice of the Board.

ARTICLE 2

BEST EFFORTS OF EXECUTIVE

     2.01 In his capacity as Chief Financial Officer, Executive shall use his best energies and
abilities in the performance of his duties, services and responsibilities for the Company.

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     2.02 During the term of his employment, Executive shall devote substantially all of his
business time and attention to the business of the Company and its subsidiaries and affiliates and
shall not engage in any substantial activity inconsistent with the foregoing, whether or not such
activity shall be engaged in for pecuniary gain, unless approved by the Board; provided, however,
that, to the extent such activities do not violate, or substantially interfere with his performance
of his duties, services and responsibilities under this Agreement.

ARTICLE 3

TERM AND NATURE OF EMPLOYMENT

     3.01 Executive’s employment hereunder shall be for an initial term of two (2) years, ending
April 1, 2008. Neither the Company nor Executive shall be obligated to extend such term of the
employment relationship. The term of Executive’s employment shall automatically be extended for
successive one (1) year periods unless the Company or Executive elects not to extend employment by
giving written notice to the other not less than thirty (30) days prior to the end of the initial
term or any extension periods. The terms and conditions of this Agreement may be amended from time
to time with the consent of the Company and Executive. All such amendments shall be effective when
memorialized by a written agreement between the Company and Executive, following approval by the
Company’s Compensation Committee (the “Committee”).

ARTICLE 4

COMPENSATION AND BENEFITS

     4.01 During the initial term of employment hereunder, Executive shall be paid a base salary at
Executive’s current rate of One Hundred Thirty-seven Thousand Dollars ($137,000) per year (“Base
Salary”), payable in accordance with the Company’s established pay periods, reduced by all
deductions and withholdings required by law and as otherwise specified by Executive. The Company
agrees to review Executive’s performance and compensation in 2006 and annually thereafter.
Executive’s Base Salary may be increased (but not decreased) in the sole discretion of the Board.
Base Salary shall not be reduced after any such increase except in connection with Company
compensation reductions applied to all other senior executives of the Company. In the event
Executive’s employment shall for any reason terminate during the Term, Executive’s final monthly
Base Salary payment shall be made on a pro-rated basis as of the last day of the month in which
such employment terminated. If the Company completes a public offering of its common stock during
the term of Executive’s employment, Executive shall be entitled to a one-time additional
compensation payment equal to $20,000. Such payment satisfies the Company’s obligation to pay
Executive a signing bonus pursuant to Executive’s offer of employment dated January 16, 2006.

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     4.02 During the term of employment, in addition to payments of Base Salary set forth above,
Executive may be eligible to participate in any performance-based cash bonus or equity award plan
for senior executives of the Company, based upon achievement of individual and/or Company goals
established by the Board or Committee. The extent of Executive’s participation in bonus plans
shall be within the discretion of the Company’s Board or Compensation Committee.

     4.03 During the term of employment, Executive shall be entitled to participate in employee
benefit plans, policies, programs, perquisites and arrangements, as the same may be provided and
amended from time to time, that are provided generally to similarly situated executive employees of
the Company, to the extent Executive meets the eligibility requirements for any such plan, policy,
program, perquisite or arrangement.

     4.04 The Company shall reimburse Executive for all reasonable business expenses incurred by
Executive in carrying out Executive’s duties, services, and responsibilities under this Agreement.
Executive shall comply with generally applicable policies, practices and procedures of the Company
with respect to reimbursement for, and submission of expense reports, receipts or similar
documentation of, such expenses.

ARTICLE 5

VACATION AND LEAVE OF ABSENCE

     5.01 Executive shall be entitled to twenty-two (22) business days of paid time off (“PTO”) for
each twelve (12) months of employment, in addition to the Company’s normal holiday’s. PTO includes
sick days and leaves of absence. PTO will be scheduled taking into account the Executive’s duties
and obligations at the Company. Unused PTO shall not be accumulated from year to year, unless
approved in writing by the Board or Committee. PTO, sick leave and all other leaves of absence
will be taken in accordance with the Company’s stated personnel policies. Upon termination or
expiration of the Executive’s employment, Executive shall be entitled to compensation for any
accrued, unused PTO time, as of date of termination.

ARTICLE 6

TERMINATION

     6.01 The Company may terminate Executive’s employment upon written notice thereof. In the
event of a termination of Executive without Cause, including a termination by Executive for Good
Reason, Executive shall be entitled to receive: (i) the Severance Payment provided in Section 7.01
and (ii) the bonus described in Section 7.03. For the purposes of this Agreement, an election by
the Company not to extend this Agreement pursuant to Section 3.01 shall be deemed a termination
without cause.

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     6.02 Executive’s employment will terminate as of the date of the death or Disability of the
Executive. In the event of such termination, there shall be payable to Executive or Executive’s
estate or beneficiaries Base Salary earned through the date of death together with a pro-rata
portion of any bonus due Executive pursuant to any bonus plan or arrangement established or
mutually agreed-upon prior to termination, to the extent earned or performed based upon the
requirements or criteria of such plan or arrangement, as the Board shall in good faith determine.
Such pro-rated bonus shall be payable at the time and in the manner payable to other executives of
the Company who participate in such plan or arrangement. For purposes of this Agreement
“Disability” shall mean a determination by the Board of the Company of the inability of Executive
to perform substantially all of his duties and responsibilities under this Agreement due to
illness, injury, accident or condition of either a physical or psychological nature, and such
inability continues for an aggregate of ninety (90) days during any period of three hundred and
sixty-five (365) consecutive calendar days. Such determination shall be made in good faith by the
Board, the decision of which shall be conclusive and binding.

     6.03 Any other provision of this Agreement notwithstanding, the Company may terminate
Executive’s employment upon written notice specifying a termination date based on any of the
following events that constitute Cause:

	 	(a)	 	Any conviction or nolo contendere plea by Executive to a felony, gross
misdemeanor or misdemeanor involving moral turpitude, or any public conduct by
Executive that has or can reasonably be expected to have a detrimental effect on the
Company and the image of its management;
	 
	 	(b)	 	Any act of material misconduct, willful and gross negligence, or breach of duty
with respect to the Company, including, but not limited to, embezzlement, fraud,
dishonesty, nonpayment of an obligation owed to the Company, or willful breach of
fiduciary duty to the Company which results in a material loss, damage, or injury to
the Company;
	 
	 	(c)	 	Any material breach of any material provision of this Agreement or of the
Company’s announced or written rules, codes or polices; provided, however, that such
breach shall not constitute Cause if Executive cures or remedies such breach within
thirty (30) days after written notice to Executive, without material harm or loss to
the Company, unless such breach is part of a pattern of chronic breaches of the same,
which may be evidenced by reports or warning letters given by the Company to Executive,
in which case such breach is not deemed curable.
	 
	 	(d)	 	Any act of insubordination by Executive; provided, however, an act of
insubordination by Executive shall not constitute Cause if Executive cures or remedies
such insubordination within thirty (30) days after written notice to Executive, without
material harm or loss to the Company, unless such insubordination is a part of a
pattern of chronic insubordination, which may be evidenced by reports or warning
letters given by the Company to Executive, in which case such insubordination is deemed
not curable.

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	 	(e)	 	Any unauthorized disclosure of any Company trade secret or confidential
information, or conduct constituting unfair competition with respect to the Company,
including inducing a party to breach a contract with the Company; or
	 
	 	(f)	 	A willful violation of federal or state securities laws.

The identification of a significant or material weakness in the Company’s internal control over
financial reporting, or an error, inaccuracy or misstatement in financial statements resulting in a
restatement of financial statements shall not, by itself, constitute Cause, unless the same results
from (i) a failure of Executive to address recommendations or directives from the Audit Committee
or the Company’s outside auditors; (ii) a chronic failure of Executive to carry out the major
duties of his employment or to follow or implement Company’s established internal controls over
financial reporting; or (iii) a failure on the part of Executive to communicate material financial
information on a timely basis to the Company’s Audit Committee or outside auditors regarding the
Company’s financial reporting.

In making such determination of Cause, the Board shall act in good faith and give Executive a
reasonably detailed written notice and a reasonable opportunity to be heard on the issues at a
Board or Committee meeting. A resolution providing for the termination of Executive’s employment
for Cause shall be approved in a resolution adopted by a majority of the members of the Board;
provided, however, that Executive shall not vote on the resolution and shall not count in the
determination of whether a majority of the Board approved such resolution. Executive’s employment
shall be deemed terminated for Cause upon the approval by the Board of a resolution terminating
Executive’s employment for Cause. For purposes of this Agreement, no act or failure by the
Executive shall be considered “willful” if such act is done by Executive in good faith in the
belief that such act is or was lawful and in the best interest of the Company or one or more of its
businesses. Nothing in this Section 6.03 shall be construed to prevent Executive from contesting
the Board or Committee’s determination that Cause exists. In the event of a termination for Cause,
and not withstanding any contrary provision otherwise stated, Executive shall receive only his Base
Salary earned through the date of termination.

     6.04 Executive may terminate his employment upon sixty (60) days prior written notice to the
Company for “Good Reason.” For purposes of this Agreement, “Good Reason” means any of the
following actions taken by the Company without Cause:

	 	(a)	 	the Company or any of its subsidiaries reduces Executive’s Base Salary or base
rate of annual compensation, or otherwise changes benefits provided to Executive under
compensation and benefit plans, arrangements, policies and procedures to be as a whole
materially less favorable to Executive, other than reductions in Base Salary permitted
under Section 4.01;
	 
	 	(b)	 	without Executive’s express written consent, the Company or any of its
subsidiaries significantly reduces Executive’s job authority and responsibility;

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	 	(c)	 	without Executive’s express written consent, the Company or any of its
subsidiaries requires Executive to change the location of Executive’s job or office, to
a location more than fifty (50) miles from the location of Executive’s job or office
immediately prior to such required change;
	 
	 	(d)	 	a successor company fails or refuses to assume the Company’s obligations under
this Agreement; or
	 
	 	(e)	 	the Company or any successor company breaches any of the material provisions of
this Agreement;

If Executive intends to terminate this Agreement for Good Reason, Executive must give not less than
sixty (60) days written notice to the Company of the facts or events giving rise to Good Reason,
and must give such notice within ninety (90) days following the facts or event alleged to give rise
to Good Reason. The failure to give such notice shall be deemed a waiver of the right to terminate
this Agreement for Good Reason based on such fact or event.

     6.05 During the term of his employment and for 24 months after the date of Executive’s
termination of employment, (i) Executive shall not, directly or indirectly, make or publish any
disparaging statements (whether written or oral) regarding the Company or any of its affiliated
companies or businesses, or the affiliates, directors, officers, agents, principal shareholders or
customers of any of them and (ii) neither the Company or any of its directors, or officers shall
directly or indirectly, make or publish any disparaging statements (whether written or oral)
regarding Executive. Information which the Company or Executive is required to make or disclose
regarding the other to comply with laws or regulations, or makes in a pleading on the advice of
litigation counsel, shall not constitute a disparaging statement.

     6.06 Upon any termination of Executive’s employment with the Company, Executive shall be
deemed to have resigned from all other positions he then holds as an officer, employee or director
or other independent contactor of the Company or any of its subsidiaries or affiliates, unless
otherwise agreed by the Company and Executive.

ARTICLE 7

SEVERANCE PAYMENTS

     7.01 The Company, its successors or assigns, will pay Executive as severance pay (the
“Severance Payment”) amount equal to twenty-four (24) months of the Executive’s monthly Base Salary
for full-time employment at the time of Executive’s termination if (i) there has been a Change of
Control of the Company (as defined in Section 7.02), and (ii) Executive is an active and full-time
employee at the time of the Change of Control, and (iii) within twelve (12) months following the
date of the Change of Control, Executive’s employment is involuntarily terminated for any reason
(including Good Reason (as definition Section 6.04)), other than for Cause or death or disability.
If Executive’s employment is terminated by the Company without Cause, or by Executive for Good
Reason, other than in connection with a Change of Control, the Severance Payment shall be equal to
eighteen (18) months of Executive’s Base Salary.

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Nothing in this Section 7.01 shall limit the authority of the Committee or Board to terminate
Executive’s employment in accordance with Section 6.03. Payment of the Severance Payment pursuant
to Section 7.01, less customary withholdings, shall be made in one lump sum within thirty (30) days
of the Executive’s termination or resignation or, at the Company’s election, in equal installments
over the non-competition period specified in Section 9.01. No Severance shall be payable if
Executive’s employment is terminated due to death or Disability.

     7.02 For the purposes of this Agreement, “Change of Control” shall mean any one of the
following:

	 	(a)	 	an acquisition by any individual, entity or group (within the meaning of
Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”) of 50% or more of either: (1) the then outstanding Stock; or (2) the
combined voting power of the Company’s outstanding voting securities immediately after
the merger or acquisition entitled to vote generally in the election of directors;
provided, however, that the following acquisition shall not constitute a Change of
Control: (i) any acquisition directly from the Company; (ii) any acquisition by the
Company or Subsidiary; (iii) any acquisition by the trustee or other fiduciary of any
employee benefit plan or trust sponsored by the Company or a Subsidiary; or (iv) any
acquisition by any corporation with respect to which, following such acquisition, more
than 50% of the Stock or combined voting power of Stock and other voting securities of
the Company is beneficially owned by substantially all of the individuals and entities
who were beneficial owners of Stock and other voting securities of the Company
immediately prior to the acquisition in substantially similar proportions immediately
before and after such acquisition; or
	 
	 	(b)	 	individuals who, as of the date of this Agreement, constitute the Board (the
“Incumbent Board”), cease to constitute a majority of the Board. Individuals nominated
or whose nominations are approved by the Incumbent Board and subsequently elected shall
be deemed for this purpose to be members of the Incumbent Board; or
	 
	 	(c)	 	approval by the shareholders of the Company of a reorganization, merger,
consolidation, liquidation, dissolution, sale or statutory exchange of Stock which
changes the beneficial ownership of Stock and other voting securities so that after the
corporate change the immediately previous owners of 50% of Stock and other voting
securities do not own 50% of the Company’s Stock and other voting securities either
legally or beneficially; or
	 
	 	(d)	 	the sale, transfer or other disposition of all substantially all of the
Company’s assets; or
	 
	 	(e)	 	a merger of the Company with another entity after which the pre-merger
shareholders of the Company own less than 50% of the stock of the surviving
corporation.

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     A “Change of Control” shall not be deemed to occur with respect to Executive if the
acquisition of a 50% or greater interest is by a group that includes the Executive, nor shall it be
deemed to occur if at least 50% of the Stock and other voting securities owned before the
occurrence are beneficially owned subsequent to the occurrence by a group that includes the
Executive.

     7.03 In addition to the Severance Payment, the Company, upon a Change of Control, will pay
Executive a bonus (“Severance Bonus”) in a lump sum within thirty (30) days following a termination
of employment pursuant to 7.01, an amount equal to two (2) times Executive’s bonus earned for the
prior fiscal year or, upon a termination of Executive’s employment without cause other than in
connection with a Change of Control, a Severance Bonus equal to one and one-half (1.5) times
Executive’s bonus earned for the prior fiscal year. The Severance Bonus payable pursuant to this
Section 7.03 shall not, however, exceed Executive’s target bonus as set forth in any bonus plan
arrangement in which Executive participates at the time of termination of his employment. The
Severance Payment or Severance Bonus shall be reduced by the amount of cash severance benefits to
which Executive may be entitled pursuant to any other cash severance plan, agreement, policy or
program of the Company or any of its subsidiaries; provided, however, that if the amount of
cash severance benefits payable under such other severance plan, agreement, policy or program is
greater than the amount payable pursuant to this Agreement, Executive will be entitled to receive
the amounts payable under such other plan, agreement, policy or program which exceeds the Severance
Payment or Severance Bonus payable pursuant to this Section. Without limiting other payments which
would not constitute “cash severance-type benefits” hereunder, any cash settlement of stock
options, accelerated vesting of stock options and retirement, pension and other similar benefits
shall not constitute “cash severance-benefits” for purposes of this Section 7.03.

     7.04 If Executive becomes entitled to the Severance Payment pursuant to Section 7.01,
Executive shall be entitled to receive, if Executive is eligible to and elects to continue medical
coverage from the Company as provided by law (commonly referred to as the COBRA continuation
period), as part of his severance benefit, continued medical coverage under the Company’s medical
plan. The Company will pay the Company’s portion of contribution to monthly medical insurance
premiums paid at the time of termination of employee’s employment for such COBRA coverage for
Executive and his eligible dependents for a period ending on the earlier of one year following
termination, or until Executive is eligible to be covered by another plan providing medical
benefits to Executive. To be eligible to receive such benefit, Executive must be eligible for
COBRA coverage, elect COBRA during the COBRA election period, and comply with all requirements to
obtain such coverage, to be eligible for coverage and for this benefit.

     7.05 Notwithstanding any other provision of this Agreement, the Company and Executive intend
that any payments, benefits or other provisions applicable to this Agreement comply with the payout
and other limitations and restrictions imposed under Section 409A of the Code (“Section 409A”), as
clarified or modified by guidance from the U.S. Department of Treasury or the Internal Revenue
Service – in each case if and to the extent Section 409A is otherwise applicable to this Agreement
and such compliance is necessary to avoid the penalties otherwise imposed under Section 409A. In
this connection, the Company and Executive agree that the payments, benefits and other provisions
applicable to this Agreement, and the terms of

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any deferral and other rights regarding this Agreement, shall be deemed modified if and to the
extent necessary to comply with the payout and other limitations and restrictions imposed under
Section 409A, as clarified or supplemented by guidance from the U.S. Department of Treasury or the
Internal Revenue Service – in each case if and to the extent Section 409A is otherwise applicable
to this Agreement and such compliance is necessary to avoid the penalties otherwise imposed under
Section 409A.

     7.06 The Company may withhold from any amounts payable under this Agreement all federal,
state, city or other taxes required by applicable law to be withheld by the Company.

     7.07 The provisions of this Article 7 will be deemed to survive the termination of this
Agreement for the purposes of satisfying the obligations of the Company and Executive hereunder.

     7.08 Anything in this Agreement to the contrary notwithstanding, in the event it shall be
determined that any payment or distribution in the nature of compensation (within the meaning of
Section 280G(b)(2) of the Code to or for the benefit of Executive, whether paid or payable pursuant
to this Agreement (including, without limitation, the accelerated vesting of equity awards held by
Executive), would be subject to the excise tax imposed by Section 4999 of the Code, then Executive
shall be entitled to receive an additional payment (the “Gross-Up Payment”) in an amount such that,
after payment by Executive of all taxes, including, without limitation, any income taxes and excise
tax imposed on the Gross-Up Payment, Executive retains an amount of the Gross-Up Payment equal to
the excise tax imposed upon the payments. The Company’s obligation to make Gross-Up Payments under
this Section 7.08 shall not be conditioned upon the Executive’s termination of employment.

	 	(a)	 	Unless otherwise agreed by the Company and Executive, all determinations
required to be made under this Section 7.08, including whether and when a Gross-Up
Payment is required, the amount of such Gross-Up Payment and the assumptions to be
utilized in arriving at such determination, shall be made by an accounting firm that
does not have a material relationship with either of the parties that is selected by
mutual agreement (the “Accounting Firm”). The Accounting Firm shall provide detailed
supporting calculations both to the Company and the Executive within 15 business days
of the receipt of notice from the Executive that there has been a Payment or such
earlier time as is requested by the Company. All fees and expenses of the Accounting
Firm shall be borne solely by the Company. Any Gross-Up Payment, as determined
pursuant to this Section 7.08, shall be paid by the Company to the Executive within 15
days of the receipt of the Accounting Firm’s determination. Absent manifest error, any
determination by the Accounting Firm shall be binding upon the Company and the
Executive.

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	 	(b)	 	The Executive shall notify the Company in writing of any claim by the Internal
Revenue Service that, if successful, would require the payment by the Company of the
Gross-Up Payment. Such notification shall be given as soon as practicable, but no
later than ten business days after the Executive is informed in writing of such claim.
The Executive shall apprise the Company of the nature of such claim and the date on
which such claim is requested to be paid. The Executive shall not pay such claim prior
to the expiration of the 30-day period following the date on which the Executive gives
such notice to the Company (or such shorter period ending on, the date that any payment
of taxes with respect to such claim is due). If the Company notifies the Executive in
writing prior to the expiration of such period that the Company desires to contest such
claim, the Executive shall:

(i) give the Company any information reasonably requested by the Company
relating to such claim,

(ii) take such action in connection with contesting such claim as the
Company shall reasonably request in writing from time to time, including,
without limitation, accepting legal representation with respect to such
claim by an attorney reasonably selected by the Company,

(iii) cooperate with the Company in good faith in order effectively to
contest such claim, and

(iv) permit the Company to participate in any proceedings relating to such
claim;

provided, however, that the Company shall bear and pay directly all costs and expenses (including
additional interest and penalties) incurred in connection with such contest, and shall indemnify
and hold the Executive harmless, on an after-tax basis, for any Excise Tax or income tax (including
interest and penalties) imposed as a result of such representation and payment of costs and
expenses. Without limitation on the foregoing provisions of this Section 7.08, the Company shall
control all proceedings taken in connection with such contest, and, at its sole discretion, may
pursue or forego any and all administrative appeals, proceedings, hearings and conferences with the
applicable taxing authority in respect of such claim and may, at its sole discretion, either pay
the tax claimed to the appropriate taxing authority on behalf of the Executive and direct the
Executive to sue for a refund or contest the claim in any permissible manner, and the Executive
agrees to prosecute such contest to a determination before any administrative tribunal, in a court
of initial jurisdiction and in one or more appellate courts, as the Company shall determine;
provided, however, that, if the Company pays such claim and directs the Executive to sue for a
refund, the Company shall indemnify and hold the Executive harmless, on an after-tax basis, from
any Excise Tax or income tax (including interest or penalties) imposed with respect to such payment
or with respect to any imputed income in connection with such payment; and provided, further, that
any extension of the statute of limitations relating to payment of taxes for the taxable year of
the Executive with respect to which such contested amount is claimed to be due is limited solely to
such contested amount. Furthermore, the Company’s control of the contest shall be limited to issues
with respect to which the Gross-Up Payment would be payable hereunder, and the Executive shall be
entitled to settle or contest, as

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the case may be, any other issue raised by the Internal Revenue Service or any other taxing
authority.

	 	(c)	 	If, after the receipt by the Executive of a Gross-Up Payment or payment by the
Company of an amount on the Executive’s behalf pursuant to this Section 7.08, the
Executive becomes entitled to receive any refund with respect to the Excise Tax to
which such Gross-Up Payment relates or with respect to such claim, the Executive shall
promptly pay to the Company the amount of such refund (together with any interest paid
or credited thereon after taxes applicable thereto). If, after payment by the Company
of an amount on the Executive’s behalf pursuant to this Section 7.08, a determination
is made that the Executive shall not be entitled to any refund with respect to such
claim and the Company does not notify the Executive in writing of its intent to contest
such denial of refund prior to the expiration of 30 days after such determination, then
the amount of such payment shall offset, to the extent thereof, the amount of Gross-Up
Payment required to be paid.
	 
	 	(d)	 	Notwithstanding any other provision of this Section 7.08, the Company may, in
its sole discretion, withhold and pay over to the Internal Revenue Service or any other
applicable taxing authority, for the benefit of the Executive, all or any portion of
any Gross-Up Payment, and the Executive hereby consents to such withholding and
payment.

ARTICLE 8

NONDISCLOSURE AND INVENTIONS

     8.01 Except as permitted or directed by the Company or as may be required in the proper
discharge of Executive’s employment hereunder, Executive shall not, during his employment or at any
time thereafter, divulge, furnish or make accessible to anyone or use in any way any Confidential
Information of the Company. “Confidential Information” means any information or compilation of
information that the Executive learns or develops during the course of his/her employment that is
not generally known by persons outside the Company (whether or not conceived, originated,
discovered, or developed in whole or in part by Executive). Confidential Information includes but
is not limited to, the following types of information and other information of a similar nature
(whether or not reduced to writing), all of which Executive agrees constitutes the valuable trade
secrets of the Company: research, designs, development, know how, computer programs and processes,
marketing plans and techniques, existing and contemplated products and services, customer and
product names and related information, prices sales, inventory, personnel, computer programs and
related documentation, technical and strategic plans, and finances. Confidential Information also
includes any information of the foregoing nature that the Company treats as proprietary or
designates as Confidential Information, whether or not owned or developed by the Company.
“Confidential Information” does not include information that (a) is or becomes generally available
to the public through no fault of Executive, (b) was known to Executive prior to its disclosure by
the Company, as demonstrated by files in existence at the time of the disclosure, (c) becomes known
to Executive, without restriction, from a source other than the Company, without breach of this
Agreement by

12

 

Executive and otherwise not in violation of the Company’s rights, or (d) is explicitly
approved for release by written authorization of the Company.

     8.02 Executive acknowledges that all inventions, innovations, improvements, developments,
methods, designs, trade secrets, analyses, drawings, reports and all similar related information
(whether or not patentable) which relate to the Company’s or any of its subsidiaries’ actual or
anticipated business, research and development or existing products or services and which are
conceived, developed or made by Executive while employed by the Company or any of its subsidiaries
(“Work Product”) belong to the Company or such subsidiary. Executive shall promptly disclose such
Work Product to the Board of Directors of the Company and, at the Company’s expense, perform all
actions reasonably requested by the Board (whether during or after employment by the Company) to
establish and confirm such ownership (including, without limitation, assignments, consents, powers
of attorney and other instruments). For purposes of this Agreement, any Work Product or other
discoveries relating to the business of the Company or any subsidiaries on which Executive files or
claims a copyright or files a patent application, within one year after termination of employment
with the Company, shall be presumed to cover and be Work Product conceived or developed by
Executive in whole or in part during the term of his employment with the Company, subject to proof
to the contrary by good faith, written and duly corroborated records establishing that such Work
Product was conceived and made following termination of employment.

     Notwithstanding the foregoing, the Company advises Executive, and Executive understands and
agrees, that the foregoing does not apply to inventions or other discoveries for which no
equipment, supplies, facility or trade secret information of the Company was used and that was
developed entirely on Executive’s own time, and (a) that does not relate (i) directly to the
Company’s business, or (ii) to the Company’s actual or demonstrably anticipated business research
or development, or (b) that does not result from any work performed by Executive for the Company.

     8.03 In the event of a breach or threatened breach by Executive of the provisions of this
Article 8, the Company shall be entitled to an injunction restraining Executive from directly or
indirectly disclosing, disseminating, lecturing upon, publishing or using such confidential, trade
secret or proprietary information (whether in whole or in part) and restraining Executive from
rendering any services or participating with any person, firm, corporation, association or other
entity to whom such knowledge or information (whether in whole or in part) has been disclosed,
without the posting of a bond or other security. Nothing herein shall be construed as prohibiting
the Company from pursuing any other equitable or legal remedies available to it for such breach or
threatened breach, including the recovery of damages from Executive.

     8.04 Executive agrees that all notes, data, reference materials, documents, business plans,
business and financial records, computer programs, and other materials that in any way incorporate,
embody, or reflect any of the Confidential Information, whether prepared by Executive or others,
are the exclusive property of the Company, and Executive agrees to forthwith deliver to the Company
all such materials, including all copies or memorializations thereof, in Executive’s possession or
control, whenever requested to do so by the Company, and in any event, upon termination of
Executive’s employment with the Company.

13

 

     8.05 The Executive understands and agrees that any violation of this Article 8 while employed
by the Company may result in immediate disciplinary action by the Company, including termination of
employment for Cause.

     8.06 The provisions of this Article 8 shall survive termination of this Agreement
indefinitely.

ARTICLE 9

NON-COMPETITION, NON-INTERFERENCE AND NON-SOLICITATION

     9.01 In further consideration of the compensation to be paid to Executive hereunder, including
amounts payable to Executive as a Severance Payment, Executive acknowledges that in the course of
his employment with the Company he will become familiar, and during his employment with the Company
he has become familiar, with the Company’s trade secrets and other Confidential Information
concerning the Company and that his services have been and will be of a special, unique and
extraordinary value to the Company, and therefore, Executive agrees that, during the period of his
employment, and for a period of one year following the end of Executive’s employment term specified
in Section 3.01 or any extension thereof, he shall not directly or indirectly own any interest in,
manage, control, participate in, consult with, render services for, or in any manner engage in any
business competing with the business of the Company, its subsidiaries or affiliates, as defined
below and as such businesses exist or are in the process during the period of his employment on the
date of termination or the expiration of the period his employment, within any geographical area in
which the Company or its subsidiaries or affiliates engage or have defined plans to engage in such
businesses. Nothing herein shall prevent Executive from being a passive owner of not more than 2%
of the outstanding stock of any class of a corporation which is publicly traded, so long as
Executive has no participation in the business of such corporation. For the purposes of this
Agreement, “business” or “business of the Company” means, with respect to and including the Company
and its subsidiaries or affiliates, the design, development, marketing and sale of digital signage
products and solutions.

     9.02 Executive agrees that during the term of his employment and for a period of one (1) year
after the termination of Executive’s employment he will not directly or indirectly (i) in any way
interfere or attempt to interfere with the Company’s relationships with any of its current or
potential customers, vendors, investors, business partners, or (ii) employ or attempt to employ any
of the Company’s employees on behalf of any other entity, whether or not such entity competes with
the Company.

     9.03 Executive agrees that breach by him of the provisions of this Article 9 will cause the
Company irreparable harm that is not fully remedied by monetary damages. In the event of a breach
or threatened breach by Executive of the provisions of this Article 9, the Company shall be
entitled to an injunction restraining Executive from directly or indirectly competing or recruiting
as prohibited herein, without posting a bond or other security. Nothing herein shall be construed
as prohibiting the Company from pursuing any other equitable or legal remedies available to it for
such breach or threatened breach, including the recovery of damages from Executive.

14

 

     9.04 The Executive understands and agrees that any violation of this Article 9 while employed
by the Company may result in immediate disciplinary action by the Company, including termination of
employment for Cause.

     9.05 The obligations contained in this Article 9 shall survive the termination of this
Agreement as described in this Article 9.

ARTICLE 10

MISCELLANEOUS

     10.01 Governing Law. This Agreement shall be governed and construed according to the
laws of the State of Minnesota without regard to conflicts of law provisions. The Company and
Executive agree that if any action is brought pursuant to this Agreement that is not otherwise
resolved by arbitration pursuant to Section 10.06, such dispute shall be resolved only in the
District Court of Hennepin County, Minnesota, or the United States District Court for Minnesota,
and each party hereto unconditionally (a) submits for itself in any proceeding relating to this
Agreement, or for recognition and enforcement of any judgment in respect thereof, to the exclusive
jurisdiction of the Hennepin County, Minnesota District Courts or the United States Federal
District Court for Minnesota, and agrees that all claims in respect to any such proceeding shall be
heard and determined in Hennepin County, Minnesota, Minnesota District Court or, to the extent
permitted by law, in such federal court, (b) consents that any such proceeding may and shall be
brought in such courts and waives any objection that it may now or thereafter have to the venue or
jurisdiction of any such proceeding in any such court or that such proceeding was brought in an
inconvenient court and agrees not to plead or claim the same; waives all right to trial by jury in
any proceeding (whether based on contract, tort or otherwise) arising out of or relating to this
Agreement, or its performance under or the enforcement of this Agreement; (d) agrees that service
of process in any such proceeding may be effected by mailing a copy of such process by registered
or certified mail (or any substantially similar form of mail), postage prepaid, to such party at
its address as provided in Section 10.08; and (e) agrees that nothing in this Agreement shall
affect the right to effect service of process in any other manner permitted by the laws of the
State of Minnesota.

     10.02 Successors. This Agreement is personal to Executive and Executive may not
assign or transfer any part of his rights or duties hereunder, or any compensation due to him
hereunder, to any other person or entity. This Agreement may be assigned by the Company. The
Company shall require any successor or assignee, whether direct or indirect, by purchase, merger,
consolidation or otherwise, of all or substantially all the business or assets of the Company,
expressly and unconditionally to assume and agree to perform the Company’s obligations under this
Agreement, in the same manner and to the same extent that the Company would be required to perform
if no such succession or assignment had taken place. In such event, the term “Company,” as used in
this Agreement, shall mean the Company as defined above and any successor or assignee to the
business or assets which by reason hereof becomes bound by the terms and provisions of this
Agreement.

15

 

     10.03 Waiver. The waiver by the Company of the breach or nonperformance of any
provision of this Agreement by Executive will not operate or be construed as a waiver of any future
breach or nonperformance under any such provision or any other provision of this Agreement or any
similar agreement with any other Executive.

     10.04 Entire Agreement; Modification. This Agreement supersedes, revokes and replaces
any and all prior oral or written understandings, if any, between the parties relating to the
subject matter of this Agreement. The parties agree that this Agreement: (a) is the entire
understanding and agreement between the parties; and (b) is the complete and exclusive statement of
the terms and conditions thereof, and there are no other written or oral agreements in regard to
the subject matter of this Agreement. Except for modifications described in Section 3.01 and
Section 4.01, this Agreement shall not be changed or modified except by a written document signed
by the parties hereto.

     10.05 Severability and Blue Penciling. To the extent that any provision of this
Agreement shall be determined to be invalid or unenforceable as written, the validity and
enforceability of the remainder of such provision and of this Agreement shall be unaffected. If
any particular provision of this Agreement shall be adjudicated to be invalid or unenforceable, the
Company and Executive specifically authorize the tribunal making such determination to edit the
invalid or unenforceable provision to allow this Agreement, and the provisions thereof, to be valid
and enforceable to the fullest extent allowed by law or public policy.

     10.06 Arbitration. Any dispute, claim or controversy arising under this Agreement
shall, at the request of any party hereto be resolved by binding arbitration in Hennepin County,
Minnesota by a single arbitrator selected by the Company and Executive, with arbitration governed
by The United States Arbitration Act (Title 9, U.S. Code); provided, however, that a dispute, claim
or controversy shall be subject to adjudication by a court in any proceeding against the Company or
Executive involving third parties (in addition to the Company or Executive). Such arbitrator shall
be a disinterested person who is either an attorney, retired judge or labor relations arbitrator.
In the event employer and Executive are unable to agree upon such arbitrator, the arbitrator shall,
upon petition by either the Company or Executive, be designated by a judge of the Hennepin County
District Court. The arbitrator shall have the authority to make awards of damages as would any
court in Minnesota having jurisdiction over a dispute between employer and Executive, except that
the arbitrator may not make an award of exemplary damages or consequential damages. In addition,
the Company and Executive agree that all other matters arising out of Executive’s employment
relationship with the Company shall be arbitrable, unless otherwise restricted by law.

	 	(a)	 	In any arbitration proceeding, each party shall pay the fees and expenses of
its or his own legal counsel.
	 
	 	(b)	 	The arbitrator, in his or her discretion, shall award legal fees and expenses
and costs of the arbitration, including the arbitrator’s fee, to a party who
substantially prevails in its claims in such proceeding.

16

 

	 	(c)	 	Notwithstanding this Section 10.06, in the event of alleged noncompliance or
violation, as the case may be, of Sections 8 or 9 of this Agreement, the Company may
alternatively apply to a court of competent jurisdiction for a temporary restraining
order, injunctive and/or such other legal and equitable remedies as may be appropriate.

     10.07 Legal Fees. If any contest or dispute shall arise between the Company and
Executive regarding any provision of this Agreement, and such dispute results in court proceedings
or arbitration, a party that prevails with respect to a claim brought and pursued in connection
with such dispute, shall be entitled to recover its legal fees and expenses reasonably incurred in
connection with such dispute. Such reimbursement shall be made as soon as practicable following
the resolution of the dispute (whether or not appealed) to the extent a party receives documented
evidence of such fees and expenses.

     10.08 Notices. For purposes of this Agreement, notices and all other communications
provided for herein shall be in writing and shall be deemed to have been duly given when personally
delivered or may send by certified mail, return receipt requested, postage prepaid, addressed to
Executive at his residence address appearing on the records of the Company and to the Company at
its then current executive offices to the attention of the Board. All notices and communications
shall be deemed to have been received on the date of delivery thereof or on the third business day
after the mailing thereof, except that notice of change of address shall be effective only upon
actual receipt. No objection to the method of delivery may be made if the written notice or other
communication is actually received.

     10.09 Survival. The provisions of this Article 10 shall survive the termination of
this Agreement, indefinitely.

     IN WITNESS WHEREOF the following parties have executed the above instrument the day and year
first above written.

	 	 	 	 	 	 	 
	 	 	WIRELESS RONIN TECHNOLOGY, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	/s/ Jeffrey C. Mack
 

Jeffrey C. Mack
	 	 
	 

	 	 	 	President and Chief Executive Officer	 	 
	 
	 	 	 	 	 	 
	 	 	EXECUTIVE	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	/s/ John A. Witham
 

John A. Witham
	 	 

17exv10w11

 

EXHIBIT 10.11

Amendment To The Strategic Partnership Agreement

The Strategic Partnership Agreement dated May 28, 2004 between Wireless Ronin® Technologies, Inc.
and The Marshall Special Assets Group, Inc. is hereby amended as follows:

Section 3.3 Distribution of Profit on Sales By MG. For each RoninCastTM System that is sold
by MG and installed at an End User location within the Territory, MG will pay to WRT thirty-five
percent (35%) for the first 12 months of the Agreement and thirty-eight percent (38%) thereafter of
the sum of the Gross Profit on WRT Products and the Gross Profit on Technical and Support Services
generated from the sale of such RoninCastTM System and Technical Support Services. Payments under
this Section 3.3 will be due and payable by MG to WRT within ten (10) days after receipt of payment
from the End User for the applicable RoninCastTM System.

Section 3.4 Distribution of Profit on Sales by WRT. For any fees or payments received by
WRT from the End User located in the Territory for Technical and Support Services, WRT will pay to
MG sixty-five percent (65%) for the first 12 months of the Agreement and sixty-two percent (62%)
thereafter of the Gross Profit on Technical and Support Services. Payments under this Section 3.4
will be due and payable by WRT to MG within ten (10) days after WRT’s receipt of fees or payment
for the applicable Technical and Support Services. It is the intent of the parties that MG will
attempt to sell Technical and Support Services and related installation services in connection with
MG’s sale of each RoninCastTM System, and that WRT will enter into an applicable Maintenance and
Support Agreement with the End User(s) as described in Section 4.2 or another appropriate
agreement, as applicable and as approved by MG. If MG collects the fees or payments for Technical
and Support Services directly from the End User(s), then the payment mechanism in Section 3.3
applies. If WRT collects the fees or payments for Technical and Support Services directly from the
End User(s), then the payment mechanism in this Section 3.4 applies.

Dated: October, 6 2004

Signed:

	 	 	 	 	 	 	 	 	 	 	 
	Wireless Ronin® Technologies, Inc.	 	 	 	The Marshall Special Assets Group, Inc.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By

	 	     /s/ Steve Jacobs
	 	 	 	By
	 	     /s/ Scott H. Anderson	 	 
	 

	 	 

	 	 	 	 	 	 

	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Its

	 	          CFO
	 	 	 	Its
	 	          President	 	 
	 

	 	 

	 	 	 	 	 	 

	 	 

 

 

First Amendment to Strategic Partnership Agreement

     This First Amendment to that certain Strategic Partnership Agreement dated June 7, 2004
between Wireless Ronin® Technologies, Inc., a Minnesota corporation (“WRT”) and The Marshall
Special Assets Group, Inc., a Delaware corporation (“MG”) (the “Strategic Partnership Agreement”)
is made effective this 29th day of September 2004 (“Effective Date”) between WRT and MG.

Recitals:

     WHEREAS, WRT and MG entered into the Strategic Partnership Agreement to grant MG the rights to
resell WRT Products and to grant MG a license to the WRT Intellectual Property Rights and
RoninCastTM Technology in the Territory (all as defined in the Strategic Partnership Agreement) on
an exclusive basis, and

     WHEREAS, WRT and MG have agreed to amend the Strategic Partnership Agreement to clarify the
definition of “Gaming Industry and Related Complexes” in Section 1.1.

     NOW, THEREFORE, in consideration of the respective covenants of WRT and MG as set forth in
this First Amendment and other good and valuable consideration, the receipt and sufficiency of
which WRT and MG each acknowledge, WRT and MG hereby agree as follows:

	 	I.	 	Capitalized Terms. All capitalized words used herein shall have the same
meaning ascribed to them in the Strategic Partnership Agreement unless said words are
otherwise defined in this First Amendment.
	 
	 	II.	 	Amendment of Strategic Partnership Agreement. The Strategic Partnership
Agreement is hereby amended as follows:
	 
	 	 	 	Section 1.1 of the Strategic Partnership Agreement is hereby amended in its entirety
to provide:

     “Gaming Industry and Related Complexes” shall mean: (1) any gaming facility operated
by any individual, entity or Native American Sovereign Nation or Tribal Community, or any facility
owned or operated by a Native American enterprise, including any and all aspects of the gaming
facility and related complex, (2) when the customer is in the United Kingdom or any other of the
European Union member states as of November 11, 2003, Switzerland or Norway, any casino facility
operated by any individual, entity or Native American Sovereign Nation or Tribal Community or any
facility owned or operated by a Native American enterprise, including in each case the operation or
management of a casino and attached casino complexes and (3) any lottery or game of chance operated
by any individual, entity, governmental entity (including without limitation a state, provincial or
national government or any subdivision or authority thereof), Native American Sovereign Nation or
Tribal Community or any individual or other entity (including without limitation GTECH Corporation
and British American Bingo Ltd.) which provides infrastructure or technical services with respect
to any gaming facility, casino facility, lottery or game of chance.

 

 

	 	III.	 	Miscellaneous.

     A. Complete Agreement. This First Amendment together with the Strategic Partnership
Agreement constitute the entire Agreement of the parties with respect to the subject matter hereof
and supersede all previous proposals, oral or written, and all negotiations, conversations or
discussions heretofore had between the parties related to the subject matter of this First
Amendment, the Strategic Partnership Agreement remains in full force and effect.

     B. Severability. In the event than any provision of this First Amendment shall be
illegal or otherwise unenforceable, such provision shall be severed and the entire First Amendment
will not fail on account thereof and the balance of this First Amendment will continue in full
force and effect.

     C. Applicable Law. This First Amendment will be governed and construed in accordance
with the laws of the State of Minnesota except with respect to the rules relating to conflicts of
law.

     D. Confidentiality. The parties hereto confirm their obligations under the
Non-Disclosure Agreement and agree that such agreement shall survive and control the confidential
treatment of all information disclosed to either party whether prior, during or after the term of
this First Amendment.

     IN WITNESS WHEREOF, WRT and MG each caused this First Amendment to Strategic Partnership
Agreement to be executed by their duly authorized representatives as of the date set forth in the
first paragraph.

	 	 	 	 	 	 	 	 	 
	Wireless Ronin® Technologies, Inc.	 	 	 	The Marshall Special Assets Group, Inc.
	 
	 	 	 	 	 	 	 	 
	/s/ Jeffrey Mack	 	 	 	/s/ Scott Anderson
	 	 	 	 	 
	 

	 	Jeffrey Mack
	 	 	 	 	 	Scott Anderson
	 

	 	President
	 	 	 	 	 	President

2

 

Strategic Partnership Agreement

     This Strategic Partnership Agreement (the “Agreement”) is made effective this 28th
day of May, 2004 (“Effective Date”) between Wireless Ronin® Technologies, Inc., a Minnesota
corporation with its principal office at 510 First Ave. N., Minneapolis MN 55403 (“WRT”) and The
Marshall Special Assets Group, Inc., a Delaware corporation with its principal offices at Suite
3000, 150 South 5th Street, Minneapolis, Minnesota 55402 (“MG”).

Recitals:

     WHEREAS, WRT develops, manufactures, sells, supports and maintains wireless software and
hardware computer products and services (the “WRT Products,” which are defined below),

     WHEREAS, WRT and MG agree, among other things, to grant MG the rights to resell WRT Products
and to grant MG a license to the WRT Intellectual Property Rights and RoninCastTM Technology in the
Territory (all as defined below) on an exclusive basis,

     NOW, THEREFORE, in consideration of the respective covenants of WRT and MG as set forth in
this Agreement and other good and valuable consideration, the receipt and sufficiency of which WRT
and MG each acknowledge, WRT and MG hereby agree as follows:

1. Definitions.

     The defined terms used in this Agreement shall have the meanings designated below or as set
forth elsewhere herein:

          1.1 “Gaming Industry and Related Complexes” shall have two meanings: (1) any gaming
facility operated by any individual, entity or Native American Sovereign Nation or Tribal
Community, or any facility owned or operated by a Native American enterprise, including any and all
aspects of the gaming facility and related complex or (2) when the customer is in the United
Kingdom, the European Union member states as of November 11, 2003, Switzerland or Norway, any
individual, entity or Native American Sovereign Nation or Tribal Community operating casino
facilities or any facility owned or operated by a Native American enterprise, including the
operation or management of a casino and attached casino complexes.

          1.2 “RoninCastTM Technology” shall mean the technology that enables the transmission,
on a wired or wireless basis, of visual messages and information from a central server to receivers
connected to remote video display monitors, all as further described on the RoninCastTM Dynamic
Visual Marketing and Communication System Schematic and Description attached hereto as Attachment
I, and further including all modifications, improvements, new versions and new releases of the
RoninCastTM Technology made by or for WRT.

          1.3 “Territory” shall mean all Gaming Industry and Related Complexes located anywhere
in the world.

3

 

          1.4 “Intellectual Property Rights” shall mean on a world wide basis, any and all now
known or hereafter known tangible and intangible (a) rights associated with works of authorship
including, without limitation, copyrights, moral rights, semiconductor topography rights, database
rights and mask works, (b) trademark and trade names rights and similar rights, (c) trade secret
rights, (d) patents, designs, algorithms and other industrial property rights, (e) all other
intellectual and industrial property rights of every kind and nature and however designated,
whether arising by operation of law, contract, license or otherwise, and (f) all registrations,
applications, renewals, extensions, continuations, divisions or reissues hereof now or hereafter in
force (including any rights in any of the foregoing), including all modifications, improvements,
new versions and new releases thereto.

          1.5 “WRT Intellectual Property Rights” shall mean all Intellectual Property Rights
owned or controlled by WRT, including without limitation, that certain U.S. Patent Application
dated October 10, 2003, Docket No. 74334-297084 which may be identified in the United States Patent
Office by Serial No. 10/683,573, filed May 10, 2004.

          1.6 “WRT Products” shall mean the hardware, software, services (including the
Technical and Support Services) and other tangible and intangible components necessary to
implement, support and maintain the RoninCastTM Technology at a particular installation. A current
listing of the WRT Products as of the Effective Date is attached as Attachment II. As new WRT
Products are introduced they will be deemed to be added to Attachment II.

          1.7 “Maintenance and Support Agreement” shall mean the Maintenance and Support
Agreement referred to herein in Section 4.2 and attached hereto as Attachment III as the same shall
be changed and modified from time to time or any other similar agreement that provides for the
rendition of Technical and Support Services, other services or modifications, improvements, new
versions and new releases relative to the WRT Intellectual Property Rights and RoninCastTM
Technology.

          1.8 “Technical and Support Services” shall mean any installation or other services, or
any services rendered pursuant to any Maintenance and Support Agreement, which relate to the
installation, customization, maintenance, support or the like of a RoninCastTM System.

          1.9 “End User” shall mean all end-user customers who purchase the WRT Products from MG
(or, with respect to Technical and Support Services, from WRT) within the Territory.

          1.10 “RoninCastTM System” shall mean a grouping and configuration of the tangible and
intangible WRT Products as a unified system, so as to implement the WRT Intellectual Property
Rights and RoninCastTM Technology at a particular End User location.

          1.11 “Specifications” shall mean the particular specifications for a RoninCastTM
System.

          1.12 “Selling Price” shall mean the price charged and the cash or cash equivalents
received by MG for any WRT Products, less the sum of the following actual and customary deductions
where applicable: cash, trade, or quantity discounts; sales, use, tariff,

4

 

import/export duties, or other excise taxes imposed upon particular sales; transportation
charges; and bona fide allowances or credits to End-Users because of rejections or returns.

          1.13 “Gross Sales” shall mean the total amount of the Selling Prices for all sales of
the WRT Products to End Users located within the Territory.

          1.14 “Cost of WRT Products” shall, except with respect to the Technical and Support
Services, mean the actual cost of the WRT Products to WRT or any affiliated entity or individual as
evidenced by an invoice from a third party non-affiliated vendor or supplier of the hardware,
software and other tangible and intangible components necessary to implement the RoninCastTM
Technology at a particular installation.

          1.15 “Cost of Technical And Support Services” shall mean an amount equal to fifty
percent (50%) of any charges or amounts invoiced to an End User for any Technical and Support
Services.

          1.16 “Gross Profit on WRT Products “ shall, except with respect to the Technical and
Support Services, mean the Selling Price for WRT Products less the Cost of WRT Products.

          1.17 “Gross Profit on Technical And Support Services” shall mean an amount equal to
fifty percent (50%) of any charges or amounts invoiced to and paid by an End User for any Technical
and Support Services.

          1.18 “Assumed Gross Margin on WRT Products” shall mean an amount equal to twenty-two
and 23/100ths percent (22.23%) of the Selling Price for the WRT Products.

          1.19 “Source Materials” shall mean the source code and other information for all
software, firmware or other technology included in or required for use with the WRT Products,
RoninCastTM System or RoninCastTM Technology including all documentation and other materials
necessary for a reasonably skilled programmer or engineer to modify and support such software or
technology, and/or to build, modify and support a RoninCastTM System or the RoninCastTM Technology
included in such RoninCastTM System.

          1.20 “WRE” shall mean Wireless Ronin Europe and/or if applicable, its European
Reseller.

2. Authorization.

          2.1 WRT Authorization. WRT hereby grants MG the right to be its exclusive distributor
of the WRT Products in the Territory. WRT acknowledges that it shall not use, market, sell, have
sold, import or otherwise distribute any of the WRT Products or RoninCastTM Technology for use in
the Territory, or permit any third party to do so except for the transactions described in Section
3.5 or the Technical and Support Services as described in Section 4.2.

          2.2 Other Licenses and Resellers. MG acknowledges that WRT has entered or may enter
into other agreements that grant resale rights in WRT Products to other third parties in other
industries and/or territories (other than to a Gaming Industry and Related Complex or in the
Territory), provided, no such agreements shall conflict with the rights granted herein.

5

 

          2.3 License. WRT hereby grants to MG an exclusive license in the Territory, under all
WRT Intellectual Property Rights, to use, make, have made, market, sell, have sold, import or
otherwise distribute the RoninCastTM System, WRT Products and/or the RoninCastTM Technology pursuant
to the terms of this Agreement. Except for the transactions described in Section 3.5 or 4.2, WRT
shall not transfer, assign, license, sublicense or otherwise distribute the RoninCastTM System, WRT
Products or the RoninCastTM Technology in the Territory, whether as part of the WRT Products or in
any other manner. Nothing in this Agreement shall prohibit WRT from licensing the RoninCastTM
Technology or selling any of the WRT Products for use outside the Territory.

          2.4 Sublicenses. MG may, at its discretion, sublicense the rights granted to it under
Sections 2.1 and 2.3 to third parties.

          2.5 No Competing Products. MG shall not market or sell any products that compete with
the WRT Products for use in the Territory, provided that WRT is in compliance with the terms of
this Agreement.

3. Purchase Price, Fees and Distribution of Profit

          3.1 Initial Purchase Price. The initial purchase price for the rights transferred to
MG to be WRT’s exclusive distributor of the WRT Products in the Territory pursuant to Section 2.1
and the grants to MG of an exclusive license in the Territory under all WRT Intellectual Property
Rights pursuant to Section 2.3 hereunder shall be Three Hundred Thousand and 00/100 Dollars
($300,000) payable on the signing by both Parties of this Agreement.

          3.2 Additional Purchase Price. An additional purchase price for the rights
transferred and licenses granted to MG hereunder in the amount of Two Hundred Thousand and 00/100
Dollars ($200,000) shall become due and payable upon the completion of the installation of, and
MG’s receipt of the Selling Price for, three (3) RoninCastTM Systems at an average per RoninCastTM
System total Selling Price of $270,000.

          3.3 Distribution of Profit on Sales By MG. For each RoninCastTM System that is sold by
MG and installed at an End-User location within the Territory, MG will pay to WRT thirty-eight
percent (38%) of the sum of the Gross Profit on WRT Products and the Gross Profit on Technical and
Support Services generated from the sale of such RoninCastTM System and Technical and Support
Services. Payments under this Section 3.3 will be due and payable by MG to WRT within ten (10)
days after MG’s receipt of payment from the End User for the applicable RoninCastTM System.

          3.4 Distribution of Profit on Sales By WRT. For any fees or payments received by WRT
from an End User located in the Territory for Technical and Support Services, WRT will pay to MG
sixty-two percent (62%) of the Gross Profit on Technical and Support Services. Payments under this
Section 3.4 will be due and payable by MG to WRT within ten (10) days after MG’s receipt of fees or
payment for the applicable Technical and Support Services. It is the intent of the parties that MG
will attempt to sell Technical and Support Services and related installation services in connection
with MG’s sale of each RoninCastTM System, and that WRT will enter into an applicable Maintenance
and Support Agreement with the End User(s) as

6

 

described in Section 4.2 or another appropriate agreement, as applicable and as approved by
MG. If MG collects the fees or payments for Technical and Support Services directly from the End
User(s), then the payment mechanism in Section 3.3 applies. If WRT collects the fees or payments
for Technical and Support Services directly from the End User(s), then the payment mechanism in
this Section 3.4 applies.

          3.5 Purchasing in Europe. All WRT Products for MG’s European customers will be
purchased directly from WRE, WRT, or WRT’s duly appointed European Reseller, and will be governed
by the terms of this Agreement. WRT acknowledges that its duly appointed European Reseller does
not and shall not have the right to distribute the WRT Products, RoninCastTM System or the
RoninCastTM Technology in the Territory to any party other than MG or its designees. WRT shall
ensure that such reseller complies with and supplies the WRT Products in accordance with the terms
of this Agreement.

4. Supply Agreement.

          4.1 WRT Supply. WRT or WRE as per Section 3.5, shall supply to MG, and MG shall
purchase from WRT or WRE, such quantities of the WRT Products as MG may order from time to time
from WRT in accordance with the terms and conditions of this Agreement. Subject to Section 5.1, MG
is not required to purchase any particular levels of WRT Products hereunder. WRT and WRE, as
applicable, are required to accept any purchase orders submitted by MG, under the term of this
Agreement. WRT and WRE, as applicable, shall use their best efforts to ship the WRT Products to MG
or a third party, as designated by MG, in the quantities and at times requested by MG, and will
promptly advise MG of any delays in shipping. Time is of the essence in WRT’s and WRE’s
performance of its obligations under this Agreement.

          4.2 Technical and Support Services. WRT will provide Technical and Support Services
directly to MG’s End Users located in the Territory pursuant to a Maintenance and Support Agreement
or other appropriate agreement, as applicable and as approved by MG. However, MG agrees to
cooperate and assist in supporting the End Users located in the Territory as reasonably needed.
WRT agrees that the fees charged End Users for Technical and Support Services pursuant to the
Maintenance and Support Agreement shall be ten percent (10%) of the Selling Price of the RoninCastTM
System purchased by such End User.

          4.3 Purchase Orders. MG may submit purchase orders to WRT or WRE, as applicable, and
WRT or WRE, as applicable, shall accept all such purchase orders, that include:

	 	(a)	 	an identification of the WRT Products ordered;
	 
	 	(b)	 	the quantity of WRT Products ordered;
	 
	 	(c)	 	requested delivery dates;
	 
	 	(d)	 	shipping instructions; and
	 
	 	(e)	 	if applicable, any relevant export control information or
documentation to enable WRT or WRE to comply with applicable U.S. export
control laws.

7

 

          4.4 Modification of Orders. MG may, without cost or liability, increase or decrease
the quantity of WRT Products ordered under any particular purchase order or reschedule the delivery
of any or all WRT Products under any particular purchase order if MG makes that request at least 30
days prior to the delivery date in effect immediately prior to MG’s change request.

          4.5 Delivery Terms. All deliveries shall be F.O.B. origin, unless otherwise agreed in
writing by both parties. “F.O.B.” shall be construed in accordance with the Uniform Commercial
Code. All risk of damage to or loss or delay of items ordered shall pass to MG upon delivery of
the items to (a) a common carrier; or (b) an agent or any other person specified by MG and acting
on behalf of MG. WRT or WRE shall use the common carriers specified by MG in its purchase orders.
MG is responsible for acquiring any appropriate or desired transit insurance.

          4.6 Inspection of Shipments. MG shall promptly inspect the delivery and in the event
of any shortage, damage, or discrepancy in a shipment, MG shall promptly report the same to WRT and
furnish to WRT such written evidence or other documentation as is obtained by MG to substantiate
such shortage, damage, or discrepancy.

          4.7 Quality Performance. In no event shall a minimum Acceptance Quality Level of 10%
(“AQL”) for non-conforming or rejected items be exceeded. WRT’s or WRE’s, as applicable,
responsibility for non-conforming items or rightly rejected items shall be to promptly repair or
replace such items and to implement reasonable preventative measures at WRT’s or WRE’s expense to
insure that the AQL is maintained. In the event a minimum Acceptance Quality Level of 10% (“AQL”)
for non-conforming or rejected items is exceeded, MG shall have the right exercisable in its sole
discretion to return all of the items described in the purchase order at WRT’s cost. All items
shipped under this Agreement may be inspected pursuant to Section 4.8 below.

          4.8 Inspection. MG reserves the right to perform a quality review or to inspect any
items prior to shipment by giving WRT reasonable written notice to that effect. In such event, the
WRT shall reasonably cooperate with MG and its representatives in their inspection of the items.

          4.9 Price Schedule. All items ordered pursuant to this Agreement shall be sold to MG
for an amount equal to the Cost of WRT Products and the Cost of Technical and Support Services.
The Cost of WRT Products and the Cost of Technical and Support Services shall include all charges,
including without limitation, packaging, packing, labeling and all taxes except sales, use and
other such taxes imposed upon the sale or transfer of the WRT Products. If MG is liable to pay
these taxes they must be specifically listed on WRT’s invoice.

          4.10 Payment Terms. Invoices for all items sold to End Users under this Agreement
shall be by written invoice. Invoices will be stated and payable in U.S. dollars. Payment terms
for such Invoices will be net thirty (30) days.

          4.11 Controlling Agreement. WRT, WRE and MG agree that this Agreement shall supersede
all terms and conditions contained in any purchase order, order confirmation or

8

 

other document exchanged by the Parties in connection with the purchase of WRT Products as
contemplated hereunder.

          4.12 Changes to WRT Products. WRT shall not make any changes to the WRT Products
(including the related Specifications) without written notice to MG provided that any such changes
shall not diminish the functionality of the WRT Products, RoninCastTM System or the RoninCastTM
Technology.

5. Term and Termination.

          5.1 Term. The term of this Agreement shall commence on the date set forth in the first
paragraph and be for a term of two years. Thereafter, this Agreement shall automatically renew on
an annual basis in perpetuity provided that MG in any given year during the renewal term produces
either (a) Gross Sales of WRT Products in the amount of at least $1,750,000 per year, or (b)
produces Gross Sales in an amount less than $1,750,000 per year and makes an additional payment to
WRT in an amount equal to thirty-eight percent (38%) of the Assumed Gross Margin on the amount by
which the Gross Sales in such year are less than $1,750,000; provided, however, that MG shall be
excused from meeting the foregoing requirements in any year to the extent that WRT fails to fulfill
its obligations hereunder, including, without limitation, fails to deliver WRT Products when and as
ordered by MG, fails to provide Technical and Support Services or fails to provide WRT Products
that meet the warranties stated herein.

          5.2 Termination.

	 	(a)	 	Notwithstanding Paragraph 5.1 hereof, this Agreement may be
terminated as follows:

	 	(i)	 	Failure by either Party to comply with any
material terms or conditions under this Agreement shall entitle the
other Party to give the Party a default notice requiring it to cure
such default. If the Party in default has not cured such default
within sixty (60) days after the receipt of written notice of default,
the notifying Party shall be entitled, in addition to any other rights
it may have under this Agreement or otherwise under law, to terminate
this Agreement by giving notice to take effect immediately.
	 
	 	(ii)	 	By MG at any time with sixty (60) days prior
written notice to WRT.
	 
	 	(iii)	 	By either Party upon the breach of the
Non-Disclosure Agreement and failure to cure such breach within sixty
(60) days.
	 
	 	(iv)	 	By MG with thirty (30) days prior written
notice to WRT if the Source Materials are released to MG pursuant to
Section 6.6.

	 	(b)	 	In the event of termination or expiration of this Agreement for
any reason, the Parties shall have the following rights and obligations:

9

 

	 	(i)	 	All orders accepted prior to the termination or
expiration of this Agreement shall be completed.
	 
	 	(ii)	 	All amounts then or thereafter due or payable
under this Agreement shall be paid by the Parties.
	 
	 	(iii)	 	Both Parties’ duty of confidentiality under
this Agreement shall survive such termination or expiration.
	 
	 	(iv)	 	If the Source Materials have been released to
MG pursuant to Section 6.6, then MG shall retain its right and license
to use such Source Materials and the WRT trademarks as provided in
Sections 6.1-6.3, in order to make, have made, sell, use, import,
distribute, maintain and support the WRT Products, RoninCastTM Systems
or the RoninCastTM Technology whether installed prior to or after the
effective date of termination of this Agreement.
	 
	 	(v)	 	Unless otherwise agreed by WRT and MG, WRT
shall continue to support each End-User’s use of the WRT Products so
long as such End-User desires to obtain such support.
	 
	 	(vi)	 	If this Agreement is terminated by MG pursuant
to Section 5.2(a)(i), (iii) or (iv) prior to the payment becoming due
and payable under Section 3.2, then WRT shall refund to MG the $300,000
previously paid by MG pursuant to Section 3.1 within 10 days of the
date of termination.

	 	(c)	 	Sections 3.4, 4.1-4.12, 5.2(b), 6.4-6.6, 7, 8, 9, 10, 11 and 12
shall survive any termination or expiration of this Agreement.

6. Intellectual Property Rights.

          6.1 WRT Trademarks. WRT hereby grants to MG, and MG hereby accepts from WRT, a
terminable, exclusive license to use the WRT Trademarks identified on Attachment IV solely in
connection with the distribution, promotion and maintenance of the WRT Products, RoninCastTM Systems
and/or RoninCastTM Technology pursuant to the terns of this Agreement. All such WRT Trademarks
shall be used by MG in accordance with WRT’s standards, specifications and instructions. WRT may
inspect and monitor the activities of MG to ensure that such use of the WRT Trademarks is in
accordance with such standards, specifications, and instructions. MG shall acquire no right,
title, or interest in WRT Trademarks, other than the foregoing limited license, and MG shall not
use any WRT Trademarks as part of MG’s corporate or trade name or permit any third party to do so
without the prior written consent of WRT which consent will not be unreasonably withheld or
delayed.

          6.2 Trademark Infringement. MG shall promptly notify WRT in writing of any
unauthorized use known to MG of the WRT Trademarks or similar marks which may constitute an
infringement of the WRT Trademarks. WRT reserves the right in its sole discretion to institute any
proceedings against such third parties. MG shall cooperate fully with WRT in any

10

 

action taken by WRT against such third parties, provided that WRT shall pay all expenses of
such action and for MG’s assistance. All damages which may be awarded or agreed upon in settlement
of such action shall belong exclusively to WRT.

          6.3 Trademark Conflicting Usage. MG shall not adopt, use or register any words,
phrases, or symbols which are identical to or confusingly similar to any of WRT’s Trademarks. Upon
termination or expiration of this Agreement, and except as provided for in Section 5, MG shall
cease and desist from all use of the WRT Trademarks.

          6.4 WRT Ownership. The parties hereby acknowledge and agree that, as between WRT and
MG, (i) all right, title and interest in the RoninCastTM Technology, and all Source Materials
including, without limitation, all patents, copyrights, trade secrets and other intellectual
property rights, are the exclusive property of WRT; (ii) MG has no rights in the WRT Technology and
the Source Materials except as expressly granted herein; and (iii) MG shall not take any action
with respect to the WRT Technology and the WRT Source Materials inconsistent with the foregoing
acknowledgement, except as otherwise provided for in this Agreement.

          6.5 MG Rights in the WRT Source Materials. The Source Materials and any portions or
copies thereof shall at all times remain the property of WRT and MG shall have no right, title or
interest therein except for the rights and licenses expressly granted in this Agreement. Under no
circumstances shall this Agreement be considered or construed in any way as the sale of the Source
Materials or a sale of any copy thereof, whether such copy is made by WRT or MG. MG agrees to take
all actions reasonably requested by WRT at WRT’s expense to protect the rights of WRT in the Source
Materials and agrees to assign to WRT all rights to unauthorized modifications made to the Source
Materials by MG. MG shall own all authorized modifications that its makes or has made to the Source
Materials.

          6.6 Source Materials Escrow. WRT shall within ten (10) business days after the
Effective Date, establish and maintain in escrow the then-current version of the Source Materials
with a mutually acceptable third party escrow agent. The cost and expenses of such escrow shall be
paid by WRT. WRT shall maintain such escrow, and update the Source Materials, no less than
annually. WRT’s agreement to maintain such escrow and update the Source Materials is a material
provision of this Agreement. MG is hereby granted an exclusive, royalty-free license within the
Territory, under all WRT Intellectual Property, to use, copy, modify, display and create derivative
works of the Source Materials, in order to use, make, have made, sell, import, copy, display,
create derivative works of and otherwise distribute the WRT Products. The Source Materials shall
remain the Confidential Information of, and owned by, WRT. The Source Materials will be released
to MG by the third party escrow agent if (a) WRT fails to continue to do business in the ordinary
course or discontinues its support of the WRT Products; (b) WRT fails to provide Technical and
Support Services to End-Users as required, (c) MG terminates this Agreement due to an uncured
breach by WRT which has not been cured within ninety (90) days from notice thereof, or (d) (i) upon
commencement of a proceeding to liquidate WRT in bankruptcy, in which WRT is the named debtor; (ii)
an assignment for the benefit of its creditors, or (iii) the appointment of a receiver for WRT is
instituted by or against WRT.

11

 

          6.7 Bankruptcy. THE PARTIES INTEND FOR THIS AGREEMENT AND THE LICENSES GRANTED HEREIN
TO COME WITHIN SECTION 365(n) OF THE U.S. BANKRUPTCY CODE AND, NOTWITHSTANDING THE BANKRUPTCY OR
INSOLVENCY OF WRT, THIS AGREEMENT AND THE LICENSES GRANTED HEREIN SHALL REMAIN IN FULL FORCE AND
EFFECT.

7. Taxes.

          7.1 Responsibility for Payment. Subject to Section 4.9, each party shall pay their
own income, franchise, sales, use, personal property, ad valorem, value added, stamp or other
taxes, levies, customs duties or other fees, together with all penalties, fines and interest
thereon that in any way arise out of this Agreement, whether on or measured by the price, the
products, the services furnished, or their use, however designated, levied or based.

8. Representations and Warranties.

          8.1 WRT’s Representations and Warranties. WRT represents and warrants to MG that WRT
has full corporate power to enter into this Agreement and to perform its obligations hereunder, and
that the person signing this Agreement on behalf of WRT has full authority to do so. WRT further
represents and warrants that this Agreement is legal, valid, and binding upon WRT and is
enforceable in accordance with its terms.

          8.2 WRT’s Unencumbered Ownership of All Right, Title and Interest In the Intellectual
Property and WRT Intellectual Property Relative to WRT Products, the RoninCastTM System or the
RoninCastTM Technology. WRT represents and warrants to MG that WRT has ownership of all right,
title and interest in all Intellectual Property (including the WRT Intellectual Property) that is
contained in or necessary for use of the WRT Products, the RoninCastTM System and the RoninCastTM
Technology free of any liens or other encumbrances. WRT represents and warrants to MG that no
third party has any claim of ownership or rights in and to the WRT Intellectual Property.

          8.3 MG’s Representations and Warranties. MG represents and warrants to WRT that MG
has full corporate power to enter into this Agreement and to perform its obligations hereunder, and
that the person signing this Agreement on behalf of MG has full authority to do so. MG further
represents and warrants that this Agreement is legal, valid, and binding upon MG and is enforceable
in accordance with its terms.

9. Enforcement of Agreement.

          9.1 Applicable Law. This Agreement will be governed by and construed in accordance
with the laws of the State of Minnesota except with respect to the rules relating to conflicts of
laws. Both parties agree that courts in the State of Minnesota shall have jurisdiction over this
Agreement, and any controversies relating to or arising out of this Agreement, whether brought
during the term of this Agreement or at any time thereafter. Both parties hereby consent to the
jurisdiction of court(s) and to any appellate courts having jurisdiction over appeals from court(s)
in Minnesota.

12

 

          9.2 Force Majeure. Upon written notice to the other party, a party affected by an
event of “Force Majeure” (as defined below) shall be suspended without any liability on its part
from the performance of its obligations under this Agreement, except for the obligation to pay any
amounts due and owing hereunder. Such notice shall include a description of the nature of the
event of Force Majeure, and its cause and possible consequences. The party claiming Force Majeure
shall also promptly notify the other party of the termination of such event. During the period
that the performance by one of the parties of its obligations under this Agreement has been
suspended by reason of any event of Force Majeure, the other party may likewise suspend the
performance of all or part of its obligations hereunder to the extent that such suspension is
commercially reasonable. “Force Majeure” shall mean acts of God, strikes, lockouts or other
industrial disturbances, war, riots, civil disturbances and other similar acts.

          9.3 Mediation. If a dispute arises out of or relates to this Agreement, or its
breach, and the parties have not been successful in resolving such dispute through negotiation, the
parties may mutually agree to attempt to resolve the dispute through non-binding mediation by
submitting the dispute to a sole mediator selected by the parties. Each party shall bear its own
expenses and an equal share of the expenses of the mediator unless otherwise assigned by the
mediator. The parties, their representatives, other participants and the mediator shall hold the
existence, content and result of the mediation in confidence. If such dispute is not resolved by
such mediation, the parties shall have the right to resort to any remedies permitted by law. All
defenses based on passage of time shall be tolled pending the termination of the mediation.
Nothing in this clause shall be construed to preclude any party from seeking injunctive relief in
order to protect its rights pending mediation. A request by a party to court for such injunctive
relief shall not be deemed a waiver of the obligation to mediate.

10. Warranties.

          10.1 Warranty. WRT warrants that:

	 	(a)	 	the WRT Products shall strictly conform and perform in
accordance with the applicable manufacturer’s specifications and shall be free
from defects in materials and workmanship;
	 
	 	(b)	 	the WRT Products shall be free and clear of any lien or
encumbrance, be safe and effective for their intended use, and be new;
	 
	 	(c)	 	WRT has sufficient right to grant the rights and licenses it
grants hereunder, and the use of the WRT Products, the RoninCastTM System, the
RoninCastTM Technology and the WRT Intellectual Property Rights (including the
RoninCastTM trademarks licensed under Section 6.1) do not infringe upon,
violate, misappropriate or breach any Intellectual Property Rights of any third
party;
	 
	 	(d)	 	WRT is not a party to any agreement which would prevent WRT
from performing its obligations under this Agreement or from granting any of
the rights and licenses contemplated in this Agreement, and WRT

13

 

	 	 	 	covenants that, during the term of this Agreement, WRT will not enter into
such an agreement;
	 
	 	(e)	 	each RoninCastTM System will perform in accordance with the
representations of WRT and any of its agents or officers and the applicable
Specifications; and
	 
	 	(f)	 	WRT has all authority and rights necessary in order to ensure
compliance by WRE with the terms of this Agreement, including, without
limitation, WRE’s obligation to supply WRT Products hereunder.

          10.2 EXCLUSIONS. EXCEPT AS PROVIDED IN SECTION 10.1 OR IN SECTION 8, NEITHER WRT NOR
MG MAKES ANY OTHER EXPRESS OR IMPLIED WARRANTY, STATUTORY OR OTHERWISE, INCLUDING WITHOUT
LIMITATION, NO WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE, WARRANTIES OF MERCHANTABILITY, OR
WARRANTIES AS TO QUALITY OR CORRESPONDENCE WITH DESCRIPTION OR SAMPLE. UNLESS DIRECTLY CAUSED BY A
PARTY TO THIS AGREEMENT OR THEIR AUTHORIZED AGENTS OR SUBCONTRACTORS, SUCH PARTY MAKES NO WARRANTY
WITH RESPECT TO CONDITIONS RESULTING FROM ANY ACTIONS OR EVENTS CAUSED BY: (I) MODIFICATIONS, (II)
MISUSE, (III) NEGLECT, (IV) ACCIDENT, (V) IMPROPER INSTALLATION, (VI) IMPROPER REPAIRS, (VII)
IMPROPER APPLICATION, OR (VIII) END USER SITE CONDITIONS.

          10.3 Remedies. Subject to Section 10.2, without limiting any of MG’s remedies at law
or in equity, MG may return any defective or nonconforming WRT Products with written notice to WRT
and WRT shall, at MG’s election, promptly replace the same free of any additional charge or
reimburse MG for the total amount paid for such WRT Products. The costs of return and replacement
shall be borne by WRT.

          10.4 Limitations and Conditions. The warranties made under Section 10.1 of this
Agreement are subject to the following limitations and conditions:

	 	(a)	 	The products must be used in the manner prescribed in the
related data sheet and applicable application notes.
	 
	 	(b)	 	The warranty shall commence on the date of shipment by WRT.

11. Indemnity.

          11.1 Indemnity. Subject to WRT’s indemnification obligations to MG under this Section
11.1, MG shall indemnify, defend and hold harmless WRT and its affiliates, and their respective
officers, directors, employees, agents and customers, from any and all third party claims,
liabilities, judgments, losses, damages, costs and expenses (including, without limitation,
reasonable attorneys’ fees and all damages or expenses asserted against such party) as a result of
a breach of the representations or warranties in Section 8.3 of this Agreement, or (b) arising out
of any WRT Products made by MG subsequent to release of the Source Materials pursuant to Section
6.6. WRT shall indemnify, defend and hold harmless MG and its affiliates, and their respective
officers, directors, employees, agents and customers, from any and all third party

14

 

claims, liabilities, judgments, losses, damages, costs and expenses (including, without
limitation, reasonable attorneys’ fees and all damages or expenses asserted against such party) as
a result of (a) a breach of the representations or warranties made by WRT in Sections 8.1, 8.2 or
10 of this Agreement, (b) any claim of infringement or misappropriation related to the WRT
Products, RoninCastTM Technology, RoninCastTM System(s) or the WRT Intellectual Property Rights
(including, without limitation, the trademarks licensed pursuant to Section 6.1), or their use as
permitted hereunder, or (c) any Technical and Support Services or other services provided to End
Users. In addition, WRT will indemnify and hold harmless MG and its affiliates and their respective
officers, directors, employees, agents and customers, from any and all claims, liabilities,
judgments, losses, damages, costs and expenses (including, without limitation, reasonable
attorneys’ fees and all damages or expenses asserted against such party) as a result of any failure
of WRE to fulfill its obligations hereunder or to abide by the terms of this Agreement.

          11.2 Notice. Each party shall immediately provide; the other party with written
notice of any claims for which it desires to seek indemnity hereunder. The party seeking
indemnification under this Section 11 shall fully cooperate (and if necessary join in the action)
with the other party (the “Indemnifying Party”) in the defense of any such claims at the
Indemnifying Party’s expense. The Indemnifying Party shall control the defense and settlement of
any claim for which it is indemnifying the other party under this Section 11.

          11.3 Third Party Infringer. If either learns of an infringement within the Territory
of any of the WRT Intellectual Property Rights licensed under this Agreement or any WRT Products,
it shall give written notice thereof the other party. Each party shall then use its best efforts
in cooperation with the other party to terminate such infringement without litigation. If the
infringing activity is not terminated, MG may elect to commence suit against the infringing party
on its own account and at its own expense, and shall be entitled to retain all amounts recovered
from such suit. WRT may monitor or join such suit at his own expense. If MG elects not to
commence any such suit, then WRT is free to do so at its own expense. Each party shall provide
reasonable cooperation (including joining in such suit if necessary) to other party in any suit
contemplated under this Section 11.3, at the other party’s expense, including, without limitation,
testimony and the execution of any pleadings, affidavits or other legal documents reasonable
requested by the other party.

12. Miscellaneous.

          12.1 Complete Agreement. This Agreement, including the attached Schedules, which are
incorporated as an integral part of this Agreement, constitutes the entire Agreement of the parties
with respect to the subject matter hereof and supersedes all previous proposals, oral or written,
and all negotiations, conversations or discussions heretofore had between the parties related to
the subject matter of this Agreement. In particular, the Letter of Intent between the parties
dated April 19, 2004, shall be superseded and terminated by this Agreement.

          12.2 Relationship of Parties. Nothing in this Agreement shall be construed to make
the parties to this Agreement agents of each other; and neither party shall so represent itself as
agent of the other. Neither MG nor WRT shall have any authority to represent itself as any type of
agent of the other. Neither party shall have authority to enter into agreements of any kind

15

 

on behalf of the other party, nor shall either party have the power or authority to bind or
obligate the other party in any manner to any third party.

          12.3 Assignment/Transferability. MG may sell, assign, or otherwise transfer (by
operation of law or otherwise) any of its rights or obligations under this Agreement without the
prior written permission of WRT. Upon the acceptance of the assignment and assumption of the
obligations, duties and liabilities by assignee, MG shall be released and discharged, to the extent
of the assignment, from all further obligations, duties and liabilities under this Agreement solely
as to any products that are not ordered by MG prior to the effective date of the assignment.

          12.4 Notices. Any notice which either party is required or may desire to give the
other party under this Agreement shall be in writing and delivered via facsimile to the facsimile
number set forth below confirmed by the sender and followed by regular mail to the address set
forth below or by regular or certified mail addressed to the other party at the address set forth
below, unless subsequently changed by written notice to the other party. Postage shall be prepaid,
return receipt requested, and such notice shall be deemed given as of the date received or returned
by the U.S. Postal Service for nondelivery.

	 	 	 	 	 
	 

	 	If to Marshall:
	 	Scott Anderson
	 

	 	 	 	President & COO
	 

	 	 	 	The Marshall Group, Inc.
	 

	 	 	 	Suite 3000
	 

	 	 	 	150 South Fifth Street
	 

	 	 	 	Minneapolis, Minnesota 55402
	 

	 	 	 	Fax No. (612) 376-1412
	 
	 	 	 	 
	 

	 	With a Copy To:
	 	John S. Jagiela, Esq.
	 

	 	 	 	The Marshall Group, Inc.
	 

	 	 	 	Suite 3000
	 

	 	 	 	150 South Fifth Street
	 

	 	 	 	Minneapolis, Minnesota 55402
	 

	 	 	 	Fax No. (612) 376-1412
	 
	 	 	 	 
	 

	 	If to Wireless Ronin:
	 	Mr. Jeffrey Mack
	 

	 	 	 	President & CEO
	 

	 	 	 	Wireless Ronin Technologies
	 

	 	 	 	Suite 301
	 

	 	 	 	510 First Avenue North
	 

	 	 	 	Minneapolis, Minnesota 55403
	 
	 	 	 	 
	 

	 	With a Copy To:
	 	Thor Christensen, Esq.
	 

	 	 	 	Vice President Corporate Counsel
	 

	 	 	 	Wireless Ronin Technologies
	 

	 	 	 	Suite 301
	 

	 	 	 	510 First Avenue North
	 

	 	 	 	Minneapolis, Minnesota 55403

16

 

          12.5 Waiver. No waiver of any breach of any provision of this Agreement shall
constitute a waiver of any prior, concurrent or subsequent breach of the same or any other
provision hereof, and no waiver shall be effective unless made in writing.

          12.6 Amendment. This Agreement shall not be modified, amended, rescinded, terminated
or waived, in whole or in part, except by written amendment signed by both parties hereto.

          12.7 Publicity. This Agreement is confidential and no party shall issue press
releases or engage in other types of publicity of any nature dealing with the commercial and legal
details of this Agreement without the other party’s prior written approval, which approval shall
not be unreasonably withheld.

          12.8 Severability. In the event that any provision of this Agreement shall be illegal
or otherwise unenforceable, such provision shall be severed and the entire Agreement will not fail
on account thereof and the balance of this Agreement will continue in full force and effect.

          12.9 Confidentiality. The parties hereto confirm their obligations under the
Non-Disclosure Agreement and agree that such agreement shall survive and control the confidential
treatment of all information disclosed to either party whether prior, during or after the term of
this Agreement.

          12.10 Solicitation of Employees. During the term of this Agreement and for a period
of two (2) years thereafter, each party agrees not to solicit or hire any employee of the other
party, either directly or indirectly, for employment or consulting, provided however that the
foregoing restriction shall not apply in the event of a release of the Source Materials to MG
pursuant to Section 6.6.

     IN WITNESS WHEREOF, WRT and MG each caused this Agreement to be executed by their duly
authorized representatives as of the date set forth in the first paragraph.

	 	 	 	 	 	 	 
	Wireless Ronin Technologies, Inc.

	 	 	 	The Marshall Special Assets Group, Inc.	 	 
	 
	 	 	 	 	 	 
	/s/ Jeffrey Mack

	 	 	 	/s/ Scott H. Anderson	 	 
	 

Jeffrey Mack

	 	 	 	 

Scott Anderson
	 	 
	President

	 	 	 	President	 	 

17

 

Attachment I

Description of RoninCastTM Technology

18

 

Attachment II

List of WRT Products

Tbox; Sbox; Hbox; End Point Controller; End Point Controller Software; Site Control Software;
Master Control Software; Graphic Design; System Installation and Maintenance; Software Support and
Maintenance;

19

 

Attachment III

Maintenance and Support Agreement

This agreement is between Wireless Ronin Technologies (“WRT”) whose primary place of business is
situated at 510 First Ave. N. Suite 304 Minneapolis, MN 55403 and                                                              (Company)
with their primary business situated at                                                                                                     .

This agreement is to be read in conjunction with the WRT License Agreement. The terms and
conditions of the License Agreement and all amendments thereto are hereby acknowledged and
reaffirmed.

NOW, THEREFORE, in consideration of the premises set forth above and the mutual covenants contained
herein, and intending to be legally bound hereby, the parties agree as follows:

1. Maintenance Services. WRT will provide the following Maintenance Services for 1 year
from the date of this agreement as an inclusion in the purchase price of the WRT software, (ALL
LICENSES MUST BE COVERED IN ORDER FOR ANY LICENSES TO BE COVERED), after which WRT will furnish the
following maintenance, support and other services (“Services”) for the Licensed Software under the
terms listed in this agreement:

1.1. All updates, enhancements, upgrades or releases of the Licensed Software and related
information and documentation (“Updates”); not to be less than one update per calendar year.

1.2. Reasonable access by telephone and/or Internet to                                          technical staff (not to exceed
four hours per month) for consultation in the use and operation of the Licensed Software.

2. Maintenance Fee. In consideration for the Services, Licensee shall pay WRT the monthly
fee set forth on Exhibit A hereto (“Maintenance Fee”) beginning in the second year of this
agreement. Licensee shall pay WRT the Maintenance Fee on or before the first day of each month for
that month. WRT shall have the right to change the Maintenance Fee upon no less than thirty (30)
days prior written notice to Licensee; provided, however, that WRT shall change the Maintenance Fee
no more than once each twelve (12) months during the Term hereof.

3. Term. The initial term (“Initial Term”) of this Agreement shall be for a period of
twenty four (24) months. After the Initial Term, Licensee shall have the option of renewing this
Agreement for additional one (1) year terms (each, a “Renewal Term” and together with the Initial
Term, the “Term”) by giving WRT notice no less than thirty (30) days prior written notice of such
renewal. WRT may terminate this Agreement (i) immediately upon breach of this Agreement by
Licensee, which breach remains uncured fifteen (15) days after written notice thereof from WRT, or
(ii) upon no less than ninety (90) days prior written notice to Licensee. Notwithstanding anything
to the contrary herein, this Agreement shall automatically terminate upon termination of the
License Agreement.

20

 

4. License. All Services provided to Licensee hereunder shall be deemed to be a part of
the Licensed Software as that expression is used in the License Agreement, and all terms and
conditions of the License Agreement, including without limitation those relating to use, copying,
return of materials, assignments, ownership, copyright, trade secret and patent protection and
applicable law.

5. Limited Warranty. WRT warrants the media on which the Updates are provided to be free
from defects in materials and workmanship for ninety (90) days after delivery. Defective media may
be returned for replacement without charge during the ninety (90) day warranty period unless the
media have been damaged by accident or misuse. WRT warrants, for ninety (90) days after purchase,
that any unaltered Update will substantially conform to the documentation that accompanies it (WRT
expressly reserves the right to provide the documentation on the same media as the Updates). Any
implied warranties are limited to the duration of the express warranties stated in this Section 5.
WRT does not warrant that: (a) operation of any of the Updates shall be uninterrupted or error
free, (b) that functions contained in the Updates shall operate in combinations which may be
selected for use by Licensee or meet Licensee’s requirements, or (c) that the Updates will detect
all viruses, Trojan horses, worms or other software routines or hardware components designed to
permit unauthorized access to or to disable, erase or otherwise harm any software, hardware or
data. WRT’s entire liability and your exclusive remedy shall be, at the option of WRT, either (a)
return of the price paid or (b) repair or replacement of any Update that does not meet the
foregoing warranty, when returned to WRT. This limited warranty is void if failure of the Update
has resulted from accident, abuse or misapplication. Any replacement software will be warranted for
the remainder of the original warranty period or thirty (30) days, whichever is longer.

THE FOREGOING EXPRESS LIMITED WARRANTIES ARE IN LIEU OF AND, TO THE MAXIMUM EXTENT PERMITTED BY
APPLICABLE LAW, WRT SPECIFICALLY DISCLAIMS ANY AND ALL OTHER WARRANTIES, EXPRESS OR IMPLIED,
INCLUDING BUT NOT LIMITED TO IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR
PURPOSE, WITH REGARD TO THE SERVICES AND THE PROVISION OF OR FAILURE TO PROVIDE SUCH SERVICES.

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT WILL WRT OR ITS DISTRIBUTORS OR
DEALERS BE LIABLE FOR SPECIAL, INCIDENTAL, INDIRECT OR CONSEQUENTIAL DAMAGES WHATSOEVER (INCLUDING,
WITHOUT LIMITATION, DAMAGES FOR LOSS OF INCOME, PROFITS, USE OF INFORMATION OR ANY OTHER PECUNIARY
LOSS) ARISING OUT OF OR IN CONNECTION WITH THE SERVICES OR THE USE OF OR INABILITY TO USE ANY
UPDATE, EVEN IF WRT HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. WRT’S ENTIRE LIABILITY
UNDER ANY PROVISION OF THIS AGREEMENT SHALL BE LIMITED TO THE MAINTENANCE FEES PAID BY LICENSEE
HEREUNDER.

21

 

Consumer Rights: For personal, family or household use of the Services, some states
and provinces do not allow the exclusion or limitation of incidental or consequential
damages or limitations on how long an implied warranty lasts, so the above limitations or
exclusions may not apply to you. These warranties give you specific legal rights and
remedies; you may also have other rights and remedies which arise from operation of law and
vary from state to state or province to province.

6. Force Majeure. WRT shall not be liable to Licensee for any failure or delay caused by
events beyond WRT’s reasonable control, including, without limitation, Licensee’s failure to
furnish necessary information; sabotage; failure or delays in transportation or communication;
failures or substitutions of equipment; labor disputes; accidents; shortages of labor, fuel, raw
materials or equipment; or technical failures.

7. Non-Assignment. Licensee shall have the right to assign this Agreement to a successor
by merger or a purchaser of all or substantially all of its assets relating to the business of
which the use or sale of the Licensed Software are a part if the successor agrees in writing to be
bound by this license. WRT shall have the right to assign this Agreement, in whole or in part,
and/or to subcontract its performance obligations hereunder, at any time and from time to time in
its sole discretion.

8. Entire Agreement. This Agreement, together with the License Agreement and any and all
exhibits, schedules and appendices attached hereto and thereto, constitute the entire agreement
between the parties and supersede all prior oral or written representations, agreements, promises,
or other communications, which pertain to the covered subject matter. This Agreement may not be
amended or modified except by a written agreement signed by authorized representatives of each
party.

9. Governing Law. This Agreement is made under and shall be governed by and construed in
accordance with the laws of the state of Minnesota. Any dispute arising out of or in connection
with this Agreement shall be adjudicated exclusively in the state or federal courts of Minnesota,
and all parties consent to personal jurisdiction and venue therein.

10. Notices. Any notice required under this Agreement shall be given in writing and
delivered by registered or certified mail, return receipt requested, or overnight delivery service
to the parties at their addresses noted above or such other addresses as shall have been designated
to each other in writing. All notices to WRT shall be directed to the attention of Thor
Christensen, CEO/President. All notices to Licensee shall be directed to the attention of Thor
Christensen.

11. Severability. If any provision of this Agreement shall be held unenforceable or
invalid, the remaining parts shall remain in full force and effect.

22

 

12. Enforcement. The failure of either party in any one or more instances to insist upon
strict performance of any of the terms or provisions of this Agreement shall not be construed as a
waiver or relinquishment, to any extent, of the right to assert or rely upon any such terms or
provisions on any future occasion. The headings are for convenience only and do not affect the
meaning of this Agreement.

13. Counterparts. The parties may execute this Agreement in one or more counterpart
copies, each of which shall be deemed an original.

IN WITNESS WHEREOF, the parties hereto, each by a duly authorized representative, have executed
this Agreement as of the date first written above.

WRT, INC. (“WRT”)                                                                                                                                              (“Licensee”)

	 	 	 	 	 	 	 	 	 	 	 
	By:

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 

	 	 
	 	 	 	 

	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Its:

	 	 	 	 	 	Its:	 	 	 	 
	 

	 	 

	 	 
	 	 	 	 

	 	 

23

 

Attachment IV

WRT TRADEMARKS

RoninCastTM

Wireless Ronin®

24

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