Document:

Purchase Letter Agreement

 Exhibit 10.1 
 CONFIDENTIAL 
 July 26, 2006 
 GluMetrics Inc. 
 15375 Barranca Parkway, Suite I-108 
 Irvine, California 92618 
 Ladies and Gentlemen: 
 Diametrics Medical, Inc., a
Minnesota corporation (“DMED”), in consideration for the payment of US $125,000 (the “Purchase Consideration”), shall sell, assign and transfer to GluMetrics Inc., a California corporation (the
“Purchaser”), free and clear of all liens, all of DMED’s right, title and interest in and to all of the equity securities (the “Securities”) of TGC Research Limited, a United Kingdom limited company
(“TGC”). 
 DMED hereby agrees that US $XXXX (the “Escrow Amount”) of the Purchase Consideration shall be
delivered by Purchaser into escrow with Optima Escrow, Inc. (the “Agent”), pursuant to the terms of an Escrow Agreement in the form set forth in Exhibit B hereto (the “Escrow Agreement”). The Escrow Amount
shall be available for the compromise and settlement of the liabilities set forth on Exhibit A hereto (the “Liabilities”) by DMED, and the remaining proceeds thereof shall then be released to DMED, all in accordance with the
terms of the Escrow Agreement. This letter agreement shall in no way obligate, or be deemed to obligate, DMED to pay any amounts to any creditors of TGC with respect to the liabilities set forth on Exhibit A and neither such creditors nor any
other party shall be a third-party beneficiary of the agreements set forth herein. 
 By execution of the signature page to this letter
agreement, DMED hereby agrees to the sale, assignment and transfer of the Securities by DMED to the Purchaser contemplated by this letter agreement. DMED and TGC each hereby waives any claim that may exist in its favor against the other, and
releases the other from any and all obligations of or relating to the other. 
 By execution of a counterpart signature page to this letter
agreement, Purchaser hereby agrees to the sale, assignment and transfer of the Securities by DMED to the Purchaser contemplated by this letter agreement and, in conjunction therewith, assumes the obligations of TGC, and releases DMED and its
affiliated entities from any and all obligations of or relating to TGC. Within three (3) business days from the date hereof, Purchaser shall deliver the Escrow Amount into escrow with the Agent and pay in cash funds the remaining Purchase
Consideration to DMED. 
 The undersigned agree that DMED’s maximum liability to the Purchaser for breach of any representation,
warranty or covenant herein or Exhibit C or any other claim related hereto shall be limited to the Purchase Consideration, less any portion thereof that is used to resolve the Liabilities. The representations and warranties on Exhibit
C hereto shall survive the closing of the sale of the Securities for a period of twelve months after the date hereof. 
 This letter
agreement shall be interpreted in accordance with and governed by the laws of the State of California applicable to agreements made and to be performed wholly within that jurisdiction, without reference to the conflicts of laws principles thereof.
This letter agreement may be executed in counterparts, each one of which shall be deemed an original and all of which taken together shall constitute one and the same document. 
 [Signature Page Follows] 

	
	Sincerely,
	
	DIAMETRICS MEDICAL, INC.
	
	/s/ Heng Chuk
	Heng Chuk
	Chief Financial Officer & Secretary

  

			
	Accepted and Agreed:
	
	GLUMETRICS INC.
		
	By:	 	/s/ William Markle
	Name:	 	William Markle
	Title:	 	President & Chief Executive Officer

 Exhibit A 
 TGC Liabilities 
 [See Attached] 

 Exhibit B 
 Escrow Agreement 
 [See Attached] 

 Exhibit C 
 Representations and Warranties 
 Diametrics Medical, Inc., a Minnesota corporation
(“DMED”) hereby represents and warrants to GluMetrics Inc., a California corporation (“Purchaser”), in connection with the letter agreement dated July 26, 2006 between DMED and Purchaser (the
“Letter Agreement”), as follows. Capitalized terms used and not defined in this Exhibit C have the meanings set forth in the Letter Agreement. 
 1. Existence, Good Standing and Power. DMED is a corporation validly existing and in good standing under the laws of the State of Minnesota. DMED has all requisite power and authority to execute and deliver the
documents and instruments to be executed and delivered by DMED in connection with the sale, assignment, and transfer (the “Assignment”) of the Securities to the Purchaser as described in the Letter Agreement. 
 2. Authority. The undersigned is authorized to execute and deliver the Letter Agreement and any other documents and instruments to be executed by
DMED in connection with the Assignment. Execution and delivery of these representations and any other documents and instruments to be executed and delivered by DMED in connection with the Assignment have been duly authorized by all necessary
corporate action on the part of DMED. 
 3. Third Party Approvals. The execution and delivery by DMED of the Letter Agreement does not
require any consents, waivers, authorizations or approvals of any third persons or entities with respect to DMED that have not been obtained by DMED. Except for public filings required pursuant to the Securities Exchange Act of 1934, as amended, and
the rules and regulations related thereto, no filings with any third persons or entities are required by DMED in connection with the Assignment. 
 4. Ownership to the Securities. DMED is the record and beneficial owner of the Securities free and clear of any and all liens. The Securities represent all of the issued and outstanding capital stock of TGC and there are no options
or rights to acquire any securities of TCG existing or otherwise held by any third party. DMED has requisite power and authority to sell, transfer, assign and deliver the Securities as contemplated by the Assignment, and such delivery will convey to
the Purchaser good and valid ownership of the Securities, free and clear of any and all liens. 
 5. Title to Patents. Since
December 3, 2005, neither TGC nor DMED, on behalf of TGC, have taken any action to sell, assign, transfer, encumber or otherwise convey from TGC to any third party any of the patents set forth on Schedule 1 hereto or any interest
therein. 
 6. Outstanding Liabilities. To the current, actual knowledge of DMED’s current Chief Financial Officer and Chief
Executive Officer, without either of them having undertaken any investigation, TGC’s outstanding liabilities are set forth on Exhibit A to the Letter Agreement. 

 Schedule 1 
 Patents 
  

					
	 Patent No.
	  	 Issue Date
	  	 Title

	4,889,407	  	12-26-89	  	Optical Waveguide Sensor and Method of Making Same
			
	5,257,338	  	10-26-93	  	Device for Transmitting and Returning Light and Apparatus and Method of Manufacture
			
	5,511,547	  	04-30-96	  	Solid State Sensors
			
	5,596,988	  	01-28-97	  	Multi-Parameter Sensor Apparatus
			
	6,585,665	  	07-01-03	  	Probe – Used to Position Sensors in Body Tissue
			
	6,623,490	  	09-23-03	  	Cranial Bolt – Used to Access Brain with a Sensor
			
	6,702,972	  	03-09-04	  	Method of Making a Kink-resistant CatheterEscrow Agreement and Joint Escrow Instructions

 Exhibit 10.2 
 CONFIDENTIAL 
 July 26, 2006 
 Attn: Ms. Jennie McCarthy 
 Optima Escrow, Inc. 
 3848 Carson Street, Suite 110 
 Torrance, California 90503 
 LETTER AGREEMENT AND JOINT ESCROW INSTRUCTIONS 
 In connection with the sale, assignment, and transfer of the equity
securities (the “Securities”) of TGC Research Limited (“TGC”) held by Diametrics Medical, Inc. (“DMED”) to GluMetrics, Inc. (the “Purchaser”) as described in that certain letter
agreement, dated July 26, 2006, a copy of which is attached hereto as Exhibit A (the “Master Letter Agreement”), Purchaser hereby agrees to deposit with Optima Escrow, Inc. (the “Escrow Agent”) an
aggregate of $XXXX (the “Escrow Deposit”) to be held in escrow pursuant to the terms set forth below, for the benefit of DMED in connection with the compromise and settlement of the TGC Liabilities set forth on Exhibit B
hereto (each a “Liability” and collectively, the “Liabilities”): 
  

	 	1.	The Escrow Deposit shall be deposited by the Escrow Agent in a fully-insured, interest bearing account, and shall not be commingled with any other funds. The Escrow Deposit shall
not be used for any other purpose except as described in and pursuant to this letter agreement. Upon written request by DMED, the Escrow Agent shall promptly account to DMED for the Escrow Deposit, interest earned thereon and each disbursement
therefrom. 

  

	 	2.	The Escrow Agent shall pay amounts to the creditors set forth on Exhibit B (the “Creditors”) from the Escrow Deposit from time to time only upon the written
request of DMED in connection with the compromise and settlement of Liabilities to such Creditors. In the event that a compromise or settlement is reached concerning one or more of the Liabilities, DMED shall provide the Escrow Agent a written
notification (“Notification”) of the disbursement amount, together with documentation (the “Documentation”) reasonably necessary to establish that such amount is sufficient to satisfy, compromise and/or discharge
such Liability; except however, when the disbursement amount represents payment in full for the amount of the Liability set forth on Exhibit B, no such Documentation shall be necessary. A disbursement shall be made by Escrow Agent
within three business days of receipt of the relevant Notification and Documentation. DMED shall provide a copy of such Notification and Documentation to Purchaser. 

  

	 	3.	If a compromise or settlement is reached with a Creditor to satisfy, discharge or compromise any Liability for an amount less than the amount set forth therefor in Exhibit B,
the Escrow Agent shall pay the remainder of the Escrow Deposit with respect to such Liability to DMED within three business days of receipt of the Notification and Documentation concerning the payment of such Liability. 

  

	 	4.	Following the 90th calendar day after the date
of this letter agreement, the Escrow Agent shall return the remaining Escrow Deposit, if any, to Purchaser; provided that all interest earned on the Escrow Deposit shall be paid to DMED within three business days of such date.

 It is agreed that DMED shall have the sole authority to communicate and/or negotiate with the Creditors during the 90
calendar days following the date of this letter agreement, and that neither Purchaser nor Escrow Agent shall contact any of the Creditors except with the express written consent of DMED. Notwithstanding, it is hereby acknowledged by Purchaser and
Escrow Agent that DMED is in 

 
no way obligated to negotiate or communicate with any of the Creditors; DMED shall only communicate or negotiate with the Creditors at its sole discretion.

 This letter agreement shall in no way obligate, or be deemed to obligate, DMED to pay any amounts to any creditors of TGC with respect to
the liabilities set forth on Exhibit B and neither such creditors nor any other party shall be a third party beneficiary of the agreements set forth herein. Purchaser and Escrow Agent hereby acknowledge and agree that DMED shall have no
liability of any kind or nature whatsoever to the Purchaser, the Creditors or any third party in respect of the Liabilities. DMED makes no representations or warranties, express or implied, concerning TGC except as set forth in Exhibit C of
the Master Letter Agreement. 
 Purchaser, DMED and Escrow Agent each acknowledge and agree that Escrow Agent will perform this letter
agreement with impartiality toward both Purchaser and DMED. 
 Purchaser and DMED further agree to hold Optima Escrow, Inc., its officers,
directors and employees free and harmless from any and all claims that may be made by or on behalf of any of Purchaser or DMED. Purchaser and DMED agree to defend Escrow Agent against any and all action or litigation as may arise as a result of the
act(s) performed by Escrow Agent in connection with complying with the instructions contained herein, including but not limited to payment of any and all attorney fees should Escrow Agent be required to obtain an attorney or be involved in any
litigation regarding same. 
 This letter agreement shall be interpreted in accordance with and governed by the laws of the State of
California applicable to agreements made and to be performed wholly within that jurisdiction, without reference to the conflicts of laws principles thereof. 
 This letter agreement may be executed in counterparts, each one of which shall be deemed an original and all of which taken together shall constitute one and the same document. 
 [Signature Page Follows] 

			
	Accepted and agreed:
	
	OPTIMA ESCROW, INC.
		
	By:	 	/s/ Jennie McCarthy
	Name:	 	Jennie McCarthy
	Title:	 	Escrow Officer
	
	DIAMETRICS MEDICAL, INC.
		
	By:	 	/s/ Heng Chuk
	Name:	 	Heng Chuk
	Title:	 	Chief Financial Officer & Secretary
	
	GLUMETRICS, INC.
		
	By:	 	/s/ William Markle
	Name:	 	William Markle
	Title:	 	President & Chief Executive Officer

 Exhibit A 
 Master Letter Agreement 
 [See Attached] 

 Exhibit B 
 TGC Liabilities 
 [See Attached]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00107-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00107-of-00352.parquet"}]]