Document:

Placement Agency Agreement

 Exhibit 10.3 
 Empire Asset Management Company 
 2 Rector Street, 15th Floor 
 New York, NY 10006 
 February 27, 2009 
 Cardium Therapeutics, Inc. 
 InnerCool Therapies, Inc. 
 Tissue Repair Company 
 12255 El Camino Real, Suite 250 
 San Diego, CA 92130 
  

	 	Re:	Placement Agency Agreement 

 Gentlemen: 
 The undersigned, Cardium Therapeutics, Inc., a Delaware corporation (the “Cardium”), together with its wholly-owned subsidiaries
InnerCool Therapies, Inc. and Tissue Repair Company (collectively, the “Subsidiaries” and together with Cardium, the “Borrowers”) desire to offer for sale (the “Offering”) to certain
“accredited investors” (each, an “Investor” and, collectively, the “Investors”) through Empire Asset Management Company (“Empire” or the “Placement Agent”) a minimum of
$2,500,000 of principal amount of Senior Subordinated Secured Promissory Notes (the “Minimum Amount”) and up to a maximum of $3,500,000 of principal amount of Senior Secured Promissory Notes (the “Maximum Amount”).
Each Senior Subordinated Secured Promissory Note is sometimes referred to as a “Note” and collectively as the “Notes”). In connection with its investment, Cardium will issue to the Investors warrants to purchase
shares of its common stock, par value $0.0001 per share (the “Common Stock”) equal to Forty Three Percent (43%) of the Principal Amount of Notes purchased (each, a “Warrant” and collectively, the
“Warrants”), subject to adjustment as further described in the Warrants. The Notes and Warrants are hereinafter collectively referred to as the “Securities.” 
 The offering of the Securities will be made by the Borrowers pursuant to that certain Note and Warrant Purchase Agreement, inclusive of all exhibits and
schedules thereto, and all amendments, supplements and appendices thereto (the “Transaction Documents/Offering Materials”). Unless otherwise defined, each term used in this Agreement will have the same meaning as set forth in the
Note and Warrant Purchase Agreement. 
 1. Agreement to Act as Placement Agent. The Borrowers hereby appoint Empire to act as their
exclusive placement agent in connection with the Offering. Empire hereby agrees, as agent of the Borrowers, to solicit offers to purchase the Securities on a “reasonable efforts” basis. The Offering will commence on the date hereof and
will continue until March 2, 2009, unless extended by the Borrowers and the Placement Agent until March 31, 2009 or terminated earlier as provided herein (the “Offering Period”). The 

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date on which the Offering shall terminate shall be referred to as the “Termination Date.” Prior to the Termination Date, the Borrowers
shall not, without the prior written consent of the Placement Agent, solicit or accept offers to purchase the Securities otherwise than through the Placement Agent in accordance herewith. 
 2. Representations and Warranties of the Borrowers. Each Borrower represents and warrants to the Placement Agent as follows: 
 (a) With respect to actions taken by any Borrower, the Securities will be offered and sold pursuant to the registration exemption provided
by Regulation D (“Regulation D”) as promulgated under Section 4(2) of the Securities Act of 1933, as amended (the “Act”) and Section 4(2) and/or Section 4(6) of the Act as a transaction not involving
a public offering and the requirements of any other applicable state securities laws and the respective rules and regulations thereunder in those jurisdictions in which the Placement Agent notifies Cardium that the Securities are being offered for
sale. None of the Borrowers have taken nor will it take any action which conflicts with the conditions and requirements of, or which would make unavailable with respect to the Offering, the exemption(s) from registration available pursuant to
Regulation D or Section 4(2) and/or Section 4(6) of the Act, and knows of no reason why any such exemption would be otherwise unavailable to it. No Borrower has been subject to any order, judgment or decree of any court of competent
jurisdiction temporarily, preliminarily or permanently enjoining it for failing to comply with Section 503 of Regulation D. 
 (b) None of the statements, documents, certificates or other items prepared or supplied by the Borrowers with respect to the transactions contemplated hereby contains an untrue statement of a material fact or omits to state a material fact
necessary to make the statements contained therein not misleading in light of the circumstances in which they were made. Through the Transaction Documents/Offering Materials and the SEC Reports, the Borrowers have disclosed to potential investors
all facts of which the Borrowers is aware which materially and adversely affects or could reasonably be expected to materially and adversely affect the business prospects, financial condition, operations, property or affairs of the Borrowers taken
as a whole. 
 (c) Except as set forth in the Transaction Documents/Offering Materials, the Borrowers is not obligated to pay,
and has not obligated the Placement Agent to pay, a finder’s or origination fee in connection with the Offering to anyone other than the Placement Agent and hereby agrees to indemnify the Placement Agent from any such claim made by any other
person. The Borrowers have not offered for sale or solicited offers to purchase the Securities except for negotiations with the Placement Agent. No other person has any right to participate in any offer, sale or distribution of the Borrowers’s
securities to which the Placement Agent’s rights, described herein, shall apply. 
 (d) Immediately prior to the Closing,
the Agent’s Warrants (as defined in Section 3(e) hereof) will have been duly authorized. No holder of any of the Agent’s Warrants will be subject to personal liability solely by reason of being such a holder. None of the Agent’s
Warrants are subject to preemptive or similar rights of any stockholder or security holder of 

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Cardium or an adjustment under the antidilution or exercise rights of any holders of any outstanding shares of capital stock, options, warrants or other
rights to acquire any securities of Cardium. Immediately prior to the Closing, a sufficient number of authorized but unissued shares of Cardium’s Common Stock will have been reserved for issuance upon the exercise of the Agent’s Warrants.

 (e) The Borrowers have all requisite corporate power and authority to (i) enter into and perform its obligations under
this Agreement and (ii) issue, sell and deliver the Securities and the Agent’s Warrants. This Agreement has been duly authorized, executed and delivered and constitutes valid and binding obligations of the Borrowers, enforceable against
the Borrowers in accordance with its terms (i) except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws now or hereafter in effect related to laws affecting creditors’
rights generally, including the effect of statutory and other laws regarding fraudulent conveyances and preferential transfers, and except that no representation is made herein regarding the enforceability of the Borrowers’ obligations to
provide indemnification and contribution remedies under the securities laws and (ii) subject to the limitations imposed by general equitable principles (regardless of whether such enforceability is considered in a proceeding at law or in
equity). 
 (f) For the benefit of the Placement Agent, the Borrowers hereby incorporate by reference all of their
representations and warranties as set forth in Section 4 of the Note and Warrant Purchase Agreement with the same force and effect as if specifically set forth herein. 
 3. Closing; Fees. 
 (a) Closing. Each prospective purchaser of Securities will be required to complete and execute one original of the Note and Warrant Purchase Agreement and the Investor Questionnaire in the forms provided to investors. All funds for
subscriptions received from the Offering will be promptly forwarded by the Placement Agent, if received by it, to and deposited into the escrow account (the “Escrow Account”) established for such purpose with Signature Bank, a New
York State chartered bank, 261 Madison Avenue, New York NY 10016 (the “Escrow Agent”). All such funds for purchase of Securities will be held in the Escrow Account pursuant to the terms of the Escrow Agreement among Cardium, the
Placement Agent and the Escrow Agent. The Borrowers will either accept or reject subscriptions for the purchase of Securities in a timely fashion and at each closing of the purchase and sale of the Securities (each, a “Closing”)
will countersign the Transaction Documents and provide duplicate copies of such Transaction Documents (originals in the case of the Notes and Warrants) to the Placement Agent for distribution to the subscribers. If the Borrowers and Placement Agent
has received and accepted subscriptions for the Minimum Amount prior to the Termination Date and is satisfied that the funds for such Securities have been collected and all of the conditions set forth elsewhere in this Agreement and in the Note and
Warrant Purchase Agreement are fulfilled, a Closing shall be held 

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promptly with respect to the Securities sold. Thereafter, the remaining Securities will continue to be offered and sold until the Termination Date.
Additional Closings may from time to time be conducted at times mutually agreeable with respect to additional Securities sold. The final Closing (the “Final Closing”) shall occur within ten (10) days from the earlier of the
Termination Date or the Borrowers’ acceptance of subscriptions for all Securities offered. Delivery of payment for the accepted subscriptions for Securities from the funds received in respect of such sales will be made at each Closing at such
place as may be mutually agreed upon between Cardium and the Placement Agent against delivery of the Securities by the Borrowers. If subscriptions for the Minimum Amount have not been received and accepted by the Borrowers on or before the
Termination Date, the Offering may be terminated by the Placement Agent and the Borrowers and no Securities will be sold, and the Escrow Agent will, at the request of the Placement Agent and Cardium, cause all monies received from purchasers for the
Securities to be promptly returned to such purchasers without interest, penalty, expense or deduction. 
 (b) Agents
Fee. Cardium will pay a cash placement fee (the “Agent’s Fee”) to the Placement Agent at each Closing equal to six percent (6%) of the aggregate gross proceeds from the sale of all Securities sold in the Offering.

 (c) Agent’s Warrants. As additional compensation hereunder, at each Closing, Cardium will issue to the
Placement Agent or its designees, warrants (the “Agent’s Warrants”) to purchase such number of shares of Common Stock equal to six percent (6%) of the shares of Common Stock initially issuable upon exercise of the Warrants
issued at such Closing. The Agent’s Warrants shall have an exercise price equal to the exercise price contained in the Warrants and shall contain the same provisions (including adjustment provisions) as those contained in the Warrants. At the
Placement Agent’s election, Cardium may issue the Agent’s Warrants all at once at the Final Closing. For the benefit of the Placement Agent, Cardium hereby incorporates by reference the registration rights provisions as set forth in
Section 6 of the Purchase Agreement with the same force and effect as if specifically set forth in the Agent’s Warrants. The Agent’s Warrants and the Agent’s Fee are sometimes collectively referred to herein as the
“Agent’s Compensation.” 
 (d) Expenses. The Borrowers shall bear all of their respective
expenses in connection with the Offering as further described in section 4(a) below. Whether or not the Offering is successfully completed for any reason, Empire will be entitled, upon presentation of a written accounting therefor in reasonable
detail, to prompt reimbursement of its actual, out-of-pocket expenses related to the Offering, including but not limited to fees and expenses of Empire’s legal counsel, travel expenses, and due diligence related expenditures (the “Agent
Expense Reimbursement”); provided, however, that any travel expenses over five hundred dollars ($500) shall be pre-approved by Cardium prior to being incurred. The provisions of this paragraph shall survive the Final Closing
and any termination of the Offering. 

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 (e) EI Investors Tail. Cardium shall also pay and issue to the Placement Agent
the Agent’s Compensation calculated according to the percentages set forth in Sections 3(b) and (c) of this Agreement, if any person or entity to whom the Placement Agent has introduced (directly or indirectly) to Cardium during the term
of this Agreement (“EI Investors”) makes a private investment in Cardium at any time prior to the date that is twelve (12) months after the termination or expiration of this Agreement regardless of whether such EI Investor
purchased Securities in the Offering. 
 4. Covenants. 
 (a) Borrowers’ Expenses. Cardium shall pay all reasonable expenses incurred in connection with the preparation and printing of
all necessary offering documents and instruments related to the Offering, the issuance of the Securities and will also pay Cardium’s own expenses for accounting fees, legal fees, escrow account fees and other costs involved with the Offering,
including the printing costs, if any, of the Offering documentation. Cardium will provide at its own expense such quantities of the Transaction Documents/Offering Materials and other documents and instruments relating to the Offering as the
Placement Agent may reasonably request. Further, as promptly as practicable after the Final Closing Date, Cardium shall prepare, at its own expense, no more than four “velobound volumes” relating to the Offering and will distribute such
volumes to the individuals designated by counsel to the Placement Agent. 
 (b) Blue Sky. Cardium will qualify the
Securities for sale under the securities laws of such jurisdictions as may be mutually agreed to by Cardium and the Placement Agent, and Cardium will make such applications and furnish information as may be required for such purposes,
provided, that Cardium will not be required or obligated to qualify to do business in any jurisdiction where it is not now so qualified or to take any action which would subject it to service of process in suits, other than those arising out
of the offering or sale of the Securities. 
 Cardium or its counsel will provide counsel for the Placement Agent with copies
of all correspondence or other documentation filed with or received from any jurisdiction where the Securities are to be registered or qualified or offered (including, without limitation, Form D filing with the SEC). In addition, upon receipt of
notification by Cardium of the qualification, registration or exemption of the Securities by an applicable jurisdiction, Cardium will promptly notify counsel for the Placement Agent in writing of such action. 
 In each jurisdiction where the Securities have been registered or qualified or are offered in an exempt transaction as provided above,
Cardium will make and file such statements, documents, materials, and reports as are or may be required to be made or filed by Cardium by the laws of such jurisdiction. 

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 Cardium will promptly provide to the Placement Agent for delivery to all offerees and
investors and their representatives any additional information, documents and instruments which the Placement Agent or Cardium reasonably deem necessary to comply with the rules, regulations and judicial and administrative interpretations respecting
compliance with such exemptions or qualifications and registrations in those states where the Securities are to be offered or sold. 
 Cardium shall place a legend on the certificates representing the Securities issued to Investors and the Agent’s Warrants stating that the securities evidenced thereby have not been registered under the Act or applicable state
securities laws, setting forth or referring to the applicable restrictions on transferability and sale of such securities under the Act and applicable state laws. 
 (c) Amendments and Supplements. If, at any time prior to the Final Closing, any event shall occur which does or may materially
affect the Borrowers (as a whole) or as a result of which it might become necessary to amend or supplement the Transaction Documents/Offering Materials so that the representations and warranties herein remain true, or in case it shall, in the
opinion of the Placement Agent and its counsel or counsel to Cardium, be necessary to amend or supplement the Transaction Documents/Offering Materials to comply with Regulation D or any other applicable securities laws or regulations, Cardium will
promptly notify the Placement Agent and shall prepare and furnish to the Placement Agent a reasonable number of copies of appropriate amendments and/or supplements in form and substance satisfactory to the Placement Agent and its counsel.

 (d) Use of Proceeds. The net proceeds of the Offering will be used by Borrowers for working capital purposes only.

 (e) Legal Opinion and Closing Certificates. There shall have been delivered to the Placement Agent and the Investors
a signed opinion of Bell, Boyd & Lloyd, LLP, counsel to Borrowers (“Company Counsel”), dated as of each Closing Date, in form and substance reasonably satisfactory to counsel to the Placement Agent. In addition, the
Placement Agent shall be entitled to receive copies of the closing certificates required to be delivered pursuant to Section 2.3 of the Note and Warrant Purchase Agreement. 
 (f) Financial Advisory Relationship. Reference is hereby made to section 5 of that certain placement agency agreement dated
July 17, 2008 between the Placement Agent and the Company pursuant to which the Placement Agent was retained to act as the Company’s principal investment advisor and banking firm for the period through December 31, 2008. The foregoing
agreement shall be amended upon consummation of the initial Closing as follows. The Company hereby retains Empire to serve as its exclusive investment banking firm commencing upon consummation of the initial Closing through July 31,
2009. In such capacity, the Company agrees to consult with Empire with respect to all of its financing needs. The Company agrees not to initiate contact or otherwise consult directly or indirectly with third party sources of capital with
respect to financing matters without first consulting with Empire and obtaining Empire’s written consent to proceed with such discussions. Empire’s 

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services with respect to the foregoing may include the following: (i) identifying and developing a list of potential offerees, including institutional
investors to be contacted by Empire in connection with soliciting interest in the financing transaction (“Offeree List”); (ii) contacting and seeking to elicit interest from one or more parties on the Offeree List to participate
in the financing transaction; (iii) coordinating inquiries from potential offerees, and assisting in the preparation of additional documents and due diligence as may be requested by potential offerees; (iv) assisting in evaluating and
negotiating the terms and conditions of any transaction and (v) assistance with respect to negotiating documents and facilitation in closing the financing transaction. The Company and Empire shall negotiate in good faith to determine a
mutually acceptable level of compensation with respect to the applicable financing transaction. 
 5. Indemnification. 
 (a) Each of the Borrowers will jointly and severally (i) indemnify and hold harmless the Placement Agent, its sub-agents and their
respective officers, directors, employees and each person, if any, who controls the Placement Agent within the meaning of the Act and such selected dealers (each an “Indemnitee”) against, and pay or reimburse each Indemnitee for,
any and all losses, claims, damages, liabilities or expenses whatsoever (or actions or proceedings or investigations in respect thereof), joint or several (which will, for all purposes of this Agreement, include, but not be limited to, all
reasonable costs of defense and investigation and all reasonable attorneys’ fees and disbursements, including appeals), to which any Indemnitee may become subject (x) under the Act or otherwise, in connection with the offer and sale of the
Securities and (y) as a result of the breach of any representation, warranty or covenant made by the Borrowers herein, regardless of whether such losses, claims, damages, liabilities or expenses shall result from any claim of any Indemnitee or
any third party; and (ii) reimburse each Indemnitee for any legal or other expenses reasonably incurred in connection with investigating or defending against any such loss, claim, action, damage or liability; provided, however,
that the Borrowers will not be liable in any such case to the extent that any such claim, damage or liability results from (A) an untrue statement or alleged untrue statement of a material fact made in the Transaction Documents/Offering
Materials or an omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, made solely in reliance upon and in conformity with written information furnished
to Cardium by the Placement Agent specifically for use in the preparation thereof, or (B) any violations by the Placement Agent of any federal or state securities laws or rules and regulations thereunder or any self-regulatory organization that
does is unrelated to any violation thereof by the Borrowers or any of their respective affiliates. In addition to the foregoing agreement to indemnify and reimburse, the Borrowers will jointly and severally indemnify and hold harmless each
Indemnitee from and against any and all losses, claims, damages, liabilities or expenses whatsoever (or actions or proceedings or investigations in respect thereof), joint or several (which shall for all purposes of this Agreement, include, but not
be limited to, all costs of defense and investigation and all reasonable attorneys’ fees, including appeals) to which any 

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Indemnitee may become subject insofar as such costs, expenses, losses, claims, damages or liabilities arise out of or are based upon the claim of any person
or entity that he or it is entitled to broker’s or finder’s fees from any Indemnitee in connection with the Offering. The foregoing indemnity agreements will be in addition to any liability which the Borrowers may otherwise have.

 (b) The Placement Agent will indemnify and hold harmless each Borrower, its officers, directors, employees and each person,
if any, who controls the Borrower within the meaning of the Act against, and pay or reimburse any such person for, any and all losses, claims, damages or liabilities or expenses whatsoever (or actions, proceedings or investigations in respect
thereof) to which the Borrower or any such person may become subject under the Act or otherwise, whether such losses, claims, damages, liabilities or expenses shall result from any claim of the Borrower, any of its officers, directors, employees,
agents, or any person who controls the Borrower within the meaning of the Act or any third party, but only to the extent that such losses, claims, damages or liabilities are based upon any untrue statement or alleged untrue statement of any material
fact contained in the Transaction Documents/Offering Materials made in reliance upon and in conformity with information contained in the Transaction Documents/Offering Materials relating to the Placement Agent, or an omission or alleged omission to
state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, in either case, if made or omitted in reliance upon and in conformity with written information furnished to Cardium by the
Placement Agent, specifically for use in the preparation thereof. The Placement Agent will reimburse the Borrowers or any such person for any legal or other expenses reasonably incurred in connection with investigating or defending against any such
loss, claim, damage, liability or action, proceeding or investigation to which such indemnity obligation applies. The foregoing indemnity agreements will be in addition to any liability which the Placement Agent may otherwise have. 
 (c) Promptly after receipt by an indemnified party under this Section 5 of notice of the commencement of any action, claim,
proceeding or investigation (the “Action”), such indemnified party, if a claim in respect thereof is to be made against the indemnifying party under this Section 5, will notify the indemnifying party of the commencement
thereof, but the omission to so notify the indemnifying party will not relieve it from any liability which it may have to any indemnified party under this Section 5 except to the extent that the indemnifying party has been actually prejudiced
by such omission. The indemnifying party will be entitled to participate in, and, to the extent that it may wish, jointly with any other indemnifying party, to assume the defense thereof subject to the provisions herein stated, with counsel
reasonably satisfactory to such indemnified party. The indemnified party will have the right to employ separate counsel in any such Action and to participate in the defense thereof, but the fees and expenses of such counsel will not be at the
expense of the indemnifying party if the indemnifying party has assumed the defense of the Action with counsel reasonably satisfactory to the indemnified party, provided, however, that if the indemnified party shall be requested by the
indemnifying party to participate in the defense thereof or shall have concluded in good faith and specifically notified the indemnifying party either that there may be specific defenses available to it which are 

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different from or additional to those available to the indemnifying party or that such Action involves or could have a material adverse effect upon it with
respect to matters beyond the scope of the indemnity agreements contained in this Agreement, then the counsel representing it, to the extent made necessary by such defenses, shall have the right to direct such defenses of such Action on its behalf
and in such case the reasonable fees and expenses of such counsel in connection with any such participation or defenses shall be paid by the indemnifying party. No settlement of any Action against an indemnified party will be made without the
consent of the indemnifying party and the indemnified party, which consent shall not be unreasonably withheld or delayed in light of all factors of importance to such party and no indemnifying party shall be liable to indemnify any person for any
settlement of any such claim effected without such indemnifying party’s consent. 
 6. Contribution. To provide for just and
equitable contribution, if (i) an indemnified party makes a claim for indemnification pursuant to Section 5 hereof and it is finally determined, by a judgment, order or decree not subject to further appeal that such claims for
indemnification may not be enforced, even though this Agreement expressly provides for indemnification in such case; or (ii) any indemnified or indemnifying party seeks contribution under the Act, the Securities Exchange Act of 1934, as amended
(the “1934 Act”) or otherwise, then each indemnifying party shall contribute to such amount paid or payable by such indemnified party in such proportion as is appropriate to reflect not only such relative benefits but also the
relative fault of the Borrowers on the one hand and the Placement Agent on the other in connection with the statements or omissions which resulted in such losses, claims, damages, liabilities or expenses (or actions in respect thereof), as well as
any other relevant equitable considerations. The relative benefits received by the Borrowers on the one hand and the Placement Agent on the other shall be deemed to be in the same proportion as the total net proceeds from the Offering (before
deducting expenses) received by the Borrowers bear to the total commissions and fees actually received by the Placement Agent. The relative fault, in the case of an untrue statement, alleged untrue statement, omission or alleged omission will be
determined by, among other things, whether such statement, alleged statement, omission or alleged omission relates to information supplied by the Borrowers or by the Placement Agent, and the parties’ relative intent, knowledge, access to
information and opportunity to correct or prevent such statement, alleged statement, omission or alleged omission. The Borrowers and the Placement Agent agree that it would be unjust and inequitable if the respective obligations of the Borrowers and
the Placement Agent for contribution were determined by pro rata allocation of the aggregate losses, liabilities, claims, damages and expenses or by any other method or allocation that does not reflect the equitable considerations referred to
in this Section 6. No person guilty of a fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) will be entitled to contribution from any person who is not guilty of such fraudulent misrepresentation. For purposes of
this Section 6, each person, if any, who controls the Placement Agent within the meaning of the Act will have the same rights to contribution as the Placement Agent, and each person, if any, who controls the Borrowers within the meaning of the
Act will have the same rights to contribution as the Borrowers, subject in each case to the provisions of this Section 6. Anything in this Section 6 to the contrary notwithstanding, no party will be liable for contribution with respect to the
settlement of any claim or action effected without its written consent. This Section 6 is intended to supersede, to the extent permitted by law, any right to contribution under the Act, the 1934 Act or otherwise available. 

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 7. Due Diligence and Company Cooperation. The Borrowers shall make members of management and
other employees, advisors and agents available to Empire as Empire shall reasonably request. The Borrowers shall cooperate with the Placement Agent in connection with, and shall make available to the Placement Agent, historic, current and
prospective information concerning the business, assets, prospects, operations and financial condition of the Borrowers and such documents and other information as the Placement Agent shall reasonably request in connection with the services to be
performed by it under this Agreement. The Borrowers recognize and confirm that the Placement Agent will use and rely, without investigation as to accuracy and completeness, on the documents and information (written and oral) provided by the
Borrowers and on information available from generally recognized public sources in performing the services contemplated by this Agreement and that the Placement Agent does not assume nor have responsibility for the accuracy or completeness of such
documents or information. Further, the Placement Agent does not assume any obligation to make any solvency determination or to conduct any appraisal of assets or liabilities of the Borrowers. 
 8. Securities Law Compliance. Each of the Borrowers and the Placement Agent agrees to conduct the Offering in a manner intended (a) to
qualify as a private placement of the Securities in any jurisdiction in which the Securities are offered and (b) to comply with the requirements of Rule 506 of Regulation D under the Act. Assuming the accuracy of the representations and
warranties given to the Borrowers by each investor to the extent relevant for such determination, the Offering will be exempt from the registration requirements of the Act. In connection with offers made in the U.S. pursuant to Regulation D, the
Borrowers and the Placement Agent agree (i) to limit offers to sell, and solicitations of offers to buy, the Securities to persons reasonably believed by it to be “accredited investors” within the meaning of Rule 501(a) under the Act,
and (ii) not to engage in any form of general solicitation or general advertising in connection with the Offering within the meaning of Rule 502 under the Act. 
 9. Termination. The Offering may be terminated by the Placement Agent at any time prior to the expiration of the Offering Period as contemplated in Section 1 hereof (the “Expiration Date”)
in the event that (a) any of the representations or warranties of the Borrowers contained herein shall prove to have been false or misleading in any material respect when made or deemed made or (b) the Borrowers shall have failed to
perform any of its material obligations hereunder. This Offering may be terminated by Cardium (on behalf of the Borrowers) at any time prior to the Expiration Date in the event that the Placement Agent shall have failed to perform any of its
material obligations hereunder. In the event of any such termination under this Section 9, the Placement Agent shall be entitled to receive, in addition to other rights and remedies it may have hereunder, at law or otherwise, an amount equal to
the sum of: (X) all Agent’s Fees earned through the Expiration Date, (Y) any accountable Agent’s Expense Reimbursement through the Expiration Date; and (Z) all amounts which may become payable in respect of EI Investors
pursuant to Section 3(e) hereof. 

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 10. Miscellaneous. 
 (a) Survival. Any termination of the Offering without consummation thereof, or any termination of this Agreement by Cardium or the
Placement Agent, shall be without obligation on the part of any party except that the provisions of Sections 3(d), 3(e), 4(a), 5, 6 and 10 shall survive such termination. 
 (b) Representations, Warranties, Indemnities and Covenants to Survive Delivery. The representations, warranties, indemnities,
agreements, covenants and other statements of the Borrowers contained herein shall survive the Final Closing, if any. 
 (c)
No Other Beneficiaries. This Agreement is intended for the sole and exclusive benefit of the parties hereto and their respective successors, controlling persons and permitted assigns, and no other person, firm or corporation shall have any
third party beneficiary or other rights hereunder. 
 (d) ARBITRATION, CHOICE OF LAW; COSTS. THE PARTIES
HERETO AGREE TO SUBMIT ALL CONTROVERSIES TO ARBITRATION IN ACCORDANCE WITH THE PROVISIONS SET FORTH BELOW AND UNDERSTAND AND AGREE THAT (A) ARBITRATION IS FINAL AND BINDING ON THE PARTIES, (B) THE PARTIES ARE WAIVING THEIR RIGHTS TO SEEK
REMEDIES IN COURT, INCLUDING THE RIGHT TO A JURY TRIAL, (C) PRE-ARBITRATION DISCOVERY IS GENERALLY MORE LIMITED AND DIFFERENT FROM COURT PROCEEDINGS, (D) THE ARBITRATOR’S AWARD IS NOT REQUIRED TO INCLUDE FACTUAL FINDINGS OR LEGAL
REASONING AND ANY PARTY’S RIGHT TO APPEAL OR TO SEEK MODIFICATION OF RULINGS BY ARBITRATORS IS STRICTLY LIMITED, (E) THE PANEL OF FINANCIAL INDUSTRY REGULATORY AUTHORITY (“FINRA”) ARBITRATORS WILL TYPICALLY INCLUDE A MINORITY OF
ARBITRATORS WHO WERE OR ARE AFFILIATED WITH THE SECURITIES INDUSTRY, AND (F) ALL CONTROVERSIES WHICH MAY ARISE BETWEEN THE PARTIES CONCERNING THIS AGREEMENT SHALL BE DETERMINED BY ARBITRATION PURSUANT TO THE RULES THEN PERTAINING TO FINRA IN
THE CITY OF NEW YORK, STATE OF NEW YORK. JUDGMENT ON ANY AWARD OF ANY SUCH ARBITRATION MAY BE ENTERED IN THE SUPREME COURT OF THE STATE OF NEW YORK OR IN ANY OTHER COURT HAVING JURISDICTION OVER THE PERSON OR PERSONS AGAINST WHOM SUCH AWARD IS
RENDERED. THE PARTIES AGREE THAT THE DETERMINATION OF THE ARBITRATORS SHALL BE BINDING AND CONCLUSIVE UPON THEM. ANY NOTICE OF SUCH ARBITRATION OR FOR THE CONFIRMATION OF ANY 

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AWARD IN ANY ARBITRATION SHALL BE SUFFICIENT IF GIVEN IN ACCORDANCE WITH THE PROVISIONS OF THIS AGREEMENT. THE PREVAILING PARTY, AS DETERMINED BY
SUCH ARBITRATORS IN AN ARBITRATION PROCEEDING SHALL BE ENTITLED TO COLLECT ANY COSTS, DISBURSEMENTS AND REASONABLE ATTORNEY’S FEES FROM THE OTHER PARTY. 
 (e) Notices. All notices, requests, demands and other communications which are required or may be given hereunder shall be in
writing and shall be deemed to have been duly given (i) when delivered personally, receipt acknowledged, (ii) five (5) days after being sent by registered or certified mail, return receipt requested, postage prepaid or (iii) one
(1) business day after being sent via a reputable nationwide overnight courier service guaranteeing next business day delivery. All notices shall be made to the parties at the addresses designated above or at such other or different addresses
which a party may subsequently provide with notice thereof, and to their respective legal counsel, as follows: 
 If to
Empire, to: 
 Empire Asset Management Company 
 2 Rector Street, 15th Floor, 
 New York, NY 10006 
 Attn: Gregg Zeoli 
 Fax: (212) 417-8229 
 With a copy to: 
 Littman Krooks LLP 
 655 Third Avenue, 20th Floor 
 New York, NY 10017 
 Attn: Steven D. Uslaner, Esq. 
 Fax: (212) 490-2990 
 or to such other person or address as Empire shall furnish to the Borrowers in
writing. 
 If to the Borrowers, to: 
 Cardium Therapeutics, Inc. 
 12255 El Camino Real, Suite 250 
 San Diego, California 92130 
 Attn: Tyler Dylan, Chief Business Officer 
 Fax: (858) 436-1011 

 Empire Asset Management Company 
 February 27, 2009 
  Page
 13
 of 14 
  

 with a copy to: 
 Bell, Boyd & Lloyd, LLP 
 3580 Carmel Mountain Road, Suite 200 
 San Diego, California 91230 
 Attn: Gregory F. Brucia, Esq. 
 Fax: (858) 509-7464 
 or to such other person or address as Cardium shall furnish to Empire in writing.

 (f) Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed to be an original,
and all of which taken together shall constitute one and the same agreement (and all signatures need not appear on anyone counterpart). In the event that any signature is delivered by facsimile transmission or by e-mail delivery of a
“.pdf” format data file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf” signature
page were an original thereof. This Agreement shall become effective when one or more counterparts has been signed and delivered by each of the parties hereto. 
 (g) Entire Agreement. This Agreement constitutes the entire agreement between the parties hereto pertaining to the subject matter
hereof and supersede all prior and contemporaneous agreements, understandings, documents, negotiations and discussions, whether oral or written, of the parties hereto pertaining to the subject matter hereof. 
 [The remainder of this page has been intentionally left blank] 
 [Signature page follows] 

 Empire Asset Management Company 
 February 27, 2009 
  Page
 14
 of 14 
  

 If you find the foregoing is in accordance with our understanding, kindly sign and return to us a
counterpart hereof, whereupon this instrument along with all counterparts will become a binding agreement between us. 
 Dated: February 27, 2009 

 

			
	Very truly yours,
	
	CARDIUM THERAPEUTICS, INC.
		
	By:	 	/s/ Tyler Dylan
		 	Tyler Dylan
		 	Chief Business Officer

  

			
	TISSUE REPAIR COMPANY
		
	By:	 	/s/ Tyler Dylan
		 	Name: Tyler Dylan
		 	Title: Chief Business Officer

  

			
	INNERCOOL THEREAPIES, INC.
		
	By:	 	/s/ Tyler Dylan
		 	Name: Tyler Dylan
		 	Title: Chief Business Officer

  

			
	ACCEPTED AND AGREED TO:
	
	EMPIRE ASSET MANAGEMENT COMPANY
		
	By:	 	/s/ Gregg Zeoli
		 	Gregg Zeoli
		 	President & CEOf10qa11209ex10_attituedrnk.htm

     

     

    Exhibit
10.18

     

    MANUFACTURING
AGREEMENT

    

        THIS AGREEMENT is made
this 16th
day of December,
2008 between O-AT-KA
MILK PRODUCTS COOPERATIVE, INC. ("Vendor") and ATTITUDE DRINK COMPANY
("Vendee").

    

    RECITALS

    

        WHEREAS, Vendor is a New
York cooperative corporation engaged in the manufacture and production of
dairy-based products at its facility in Batavia. New York (the "Facility");
and

    

        WHEREAS, Vendee desires
to purchase from Vendor. and Vendor desires to sell to Vendee. the products
listed from time to time on Exhibit A attached
hereto (the “Products").

    

        NOW, THEREFORE. in
consideration of the promises by Vendor to sell the Products to Vendee and
Vendee to purchase the Products from Vendor and in consideration of the mutual
covenants herein. Vendor and Vendee agree as follows:

    

    1.           Services Provided by
Vendor.

    

    a) Manufacture. Vendor
shall manufacture, package and ship the Products for purchase by Vendee. All
Products shall be purchased F.O.B. the Facility by Vendee.

    

    b) Materials and
Specifications. Unless otherwise agreed by the parties. Vendor shall
procure the ingredients, supplies and packaging materials used in the
manufacturing of the Products (the "Materials"). All Products and Materials
shall conform to Vendee's approved specifications (the "Specifications"),
attached hereto as Exhibit B. Vendee may
change the Specifications pursuant to Section 1(d). Vendor shall examine all
Materials furnished by Vendee or other suppliers and shall exercise reasonable
due diligence in accepting or rejecting items which do not conform in all
material respects to the Specifications. or do not comply with any laws or
regulations of the United States. the State of New York. Genesee County. and the
City and Town of Batavia. New York (collectively. the "Laws").

    

    c) Inventory of
Materials. Vendor shall provide and/or procure a sufficient quantity of
Materials to meet the production requirements imposed on Vendor pursuant to the
terms of this Agreement. If provided by Vendee. Vendee shall ship to Vendor all
other necessary materials in such quantities as may be requested by Vendor from
time to time.

    

    d) Changes
to Specifications. Vendee may modify the Specifications upon thirty (30)
calendar days prior written notice. If Vendor cannot make such modifications
within the thirty (30) calendar day notice period, Vendor shall implement such
modifications as soon thereafter as reasonably possible. Regardless of the
number or frequency, changes to the Specifications shall not relieve Vendor of
any of its obligations or excuse its performance if such changes do not increase
the cost of performance by Vendor. If changes result in an increase or decrease
in the production cost of the Products, the parties will negotiate and reach
mutual agreement on the actual effect of any such change and the actual increase
or decrease in the cost of production. The price paid to Vendor. determined in
accordance with Section 5(a), will be adjusted accordingly.  If
changes result in an increase in the production cost of the
Products.

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
    

     

    Vendor
will not be obligated to implement such change until the parties agree upon the
price adjustment.

    

    e. Shipping and
Delivery. Vendor shall load Products onto shipping vehicles designated by
the Vendee at the Facility. Vendee shall pay all expenses associated therewith.
Vendor shall deliver all orders on the day specified in the applicable purchase
order. Partial orders may' he delivered from time to time so long as an
applicable order is completed and delivered within the time specified. Delivery
shall occur when Vendor delivers Products to the shipping vehicle at the
Facility. Title to the Products and all risk of loss or damage thereto shall
transfer to Vendee at the time Vendor delivers the Products.

    

    2.           Production
Schedule. During the Initial Term_ Vendor shall maintain sufficient production
capacity to manufacture and package both the annual number of cases of Products.
and the monthly number of cases of Products. as listed on Exhibit A. Vendor
will supply Products to Vendee under the labels listed on Exhibit A pursuant to
written purchase orders submitted from time to time by Vendee. Vendee shall
submit its purchase orders to the following address

    

    O-AT-KA
Milk Products Cooperative. Inc.

    700
Ellicott Street

    P.O. Box
718

    Batavia,
NY 14021-0718

    Facsimile
No. 585-343-4473

    

    Unless
Vendee and Vendor mutually agree on a different system. Vendee shall provide
Vendor with a yearly estimate of its Products needs. In addition, no later than
the seventh (7th) day of every month the Vendee shall provide Vendor with a
rolling three (3) month forecast with a firm order for the first month. updated
every month thereafter (e.g.. by December seventh (7th) the Vendee will provide
a forecast for January. February and March. with the month of January being a
firm order and the months of February and March being non-binding estimated
requirements: by January seventh (7th) the Vendee will provide a forecast for
February, March and April with the month of February being a firm order and the
months of March and April being non-binding estimated requirements; etc.) (the
"Estimated Production Schedule"). Vendor shall notify Vendee within ten ( 10)
calendar days if Vendor cannot comply with all or part of an Estimated
Production Schedule.

    

    3.           Vendee's
Requirements. Provided that Vendor can offer the Products at competitive
prices (including its prices for any Materials it furnishes) and meet the volume
and time requirements of Vendee. Vendee agrees to offer all of its business with
regard to the manufacture and packaging of the Products to Vendor. To the extent
Vendor cannot meet Vendee's request, Vendee can direct its business to another
vendor.

    

    4.           Payment for Unused Materials
and Products. If for any reason Vendee discontinues operation or ceases
to purchase from Vendor, it will pay to Vendor the costs of any Materials on
hand and under order and also the value of the Products which are fit for sale.
Such payment shall be due and paid within twenty (20) calendar days after such
discontinuance or termination. The value of such Products and Materials shall be
determined by the price paid by Vendee for similar quantities of Products and
Materials at the time notice of discontinuance or termination was received or
discovered by Vendor. All unused Products and Materials provided by Vendor and
all unused Products shall be purchased F.O.B. the Facility by Vendee. Vendee
shall take all reasonable steps to remove all Products and Materials on a timely
basis.

     

     

    -2-

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    5.           Price of Products - Payment
to Vendor.  Prices for Products shall be calculated as set
forth in Section 5(a) below. The price shall be F.O.B. the Facility, unless
otherwise indicated.

    

    a.           Price of Products.
Vendee shall pay Vendor a price for each case of Products based on Vendor's
actual costs of production, which price shall be the sum of Vendor's: (i) cost
of Materials; and (ii) cost of manufacturing, including overhead expenses and
profit. The price for each case of Products shall be determined in the month of
shipment. The initial components of the case price are set forth on Exhibit C. Formulas
for the components and case configurations are also shown on Exhibit C. Such
component prices and Exhibit C may be
amended from time to time as follows:

    

    
      	
              (1)  

            	
              Cost of Materials. The cost of Materials
      shall be adjusted monthly.

            

    

    

    
      	
              (2)  

            	
              Cost of Manufacturing. The cost of
      manufacturing shall be adjusted
annually.

            

    

    

    b.           Payment. Vendor shall
submit its invoices to the following address:

     

    Attitude
Drink Company

    11300
U.S. Highway 1, Suite 207

    North
Palm Beach, FL 33408

     

    Vendor
will provide a preliminary invoice to Vendee thirty (30) calendar days before
production is scheduled. Vendor must receive payment two weeks before commercial
production is scheduled. Within 10 days from commercial production vendor will
adjust the preliminary pricing to actual providing vendee with either a credit
or debit.

    

    c.           Price Adjustments.
The parties shall negotiate pricing at least one hundred twenty (120) calendar
days prior to the end of each year of the Initial Term (defined below) and prior
to the end of each Extension Period (defined below), and shall attempt to agree
on pricing within thirty (30) calendar days. If the parties cannot agree on the
price for the next succeeding period of performance by the end of the current
period, then the price in effect at the end of such period will continue for an
additional ninety (90) calendar days. At the end of such ninety (90) calendar
days, this Agreement will terminate.

    

    d.           Pricing Review.
Vendee may examine, during normal business hours and upon reasonable notice,
Vendor's books and records that directly relate to the computation of prices for
the Products.

    

    6.           Reports. Vendor shall
maintain adequate records of all Materials supplied by Vendee and no later than
the fifteenth (15th) day of each month Vendor shall furnish Vendee a report
showing the quantity of all Materials received. used and on hand for the prior
month from Vendee.

     

     

    -3-

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    7.           Warranties.  Except
as discussed herein. Vendor warrants that all Products manufactured, packaged
and shipped for Vendee under this Agreement: (i) shall be manufactured in
accordance with the Specifications: (ii) shall be manufactured in accordance
with Good Manufacturing Practices as set forth in Title 21 of the Code of
Federal Regulations.  Section 11() ( shall be manufactured in
accordance with the Laws and shall not, at the time of delivery. be adulterated,
contaminated or misbranded within the meaning of the Federal Food. Drug and
Cosmetic Act (the "Act") and regulations promulgated pursuant thereto: and (iv)
shall not constitute an article prohibited from introduction into interstate
commerce under the Act and regulations. In addition to Vendee's other remedies.
Products which do not comply with this warranty may be rejected by Vendee at any
time upon notice to Vendor specifying the reason therefor.

    

    8.           Recall Procedure. In
the event that Vendee reasonably determines that is necessary or advisable to
recall or otherwise remove a shipment of Products from the distribution system
or marketplace for any reason, Vendor shall cooperate fully in such recall or
removal under such procedures as Vendee shall reasonably proscribe or as
mandated by applicable Laws. Vendor shall be responsible for the actual cost of
a recall only if, and only to the extent. such recall is attributable to
Vendor's negligence or willful misconduct in manufacturing the Products.
Notwithstanding anything herein to the contrary. in no event shall Vendor be
responsible for the internal cost incurred by Vendee as a result of a recall.
Furthermore. if the recall is attributable to Vendee's negligence or willful
misconduct, or to the Specifications, Vendee shall assume all costs, including
those incurred by Vendor associated with such recall.

    

    9.           Term. This Agreement
shall have an initial term of three (3) years commencing as of the date hereof
(the "Initial Term"). After the Initial Term. this Agreement shall automatically
renew for consecutive one (1) year periods. subject to mutually agreeable
pricing (determined in accordance with Section 5(c)) (the "Extension Periods"),
unless either party provides notice of cancellation at least one hundred twenty
(120) calendar days prior to the end of the Initial Term or subsequent Extension
Period.

    

    10.           Ownership
and Confidentiality of Product Information.

    

    a. Ownership. Vendee
represents and warrants that it is the sole and complete owner of. or has the
right to use the trademarks and trade name(s) used in the labels as listed on
Exhibit A (the "Product information"), and that it has full power and authority
to use the Product Information and to contract with Vendor with respect to the
manufacture and packaging of the Products. Any Products or Materials bearing the
trademarks and trade name(s) used in the labels listed on Exhibit A may not be
sold to anyone other than Vendee or its assigns without the written consent of
Vendee. Vendee acknowledges that Vendor has its own proprietary information and
items. including, but not limited to, its manufacturing processes.

     

     

    -4-

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    b. Confidentiality.  In
order to protect the confidentiality and proprietary nature of the parties'
Confidential Information (as hereinafter defined), the parties desire to set
forth certain terms, provisions and restrictions with respect thereto. As used
in this Agreement, the term "Confidential Information- shall mean any
information disclosed In one party to the other party_ whether transmitted in
oral. written or graphical form or obtained by observation or otherwise during
laboratory. plant or facility visits, including, without limitation. all
scientific. medical. clinical. engineering, statistical. technical, process,
method or commercial data. information or know-how. including, without
limitation, that relating to research. development. manufacturing, customer
lists, trade secrets, Formulas, intellectual property. drawings. models.
prototypes or samples and all information regarding pricing. business plans,
product lines. methods of business operation and the general business operations
and financial information, together with any analyses. compilations, studies or
other documents or records prepared by a party or any of its employees or
representatives pertaining to such information. With respect to Confidential
-Information disclosed under this Agreement. the receiving party of such
Confidential Information shall:

    

    (1) use
the Confidential Information solely for performance of its obligations hereunder
and reproduce the Confidential Information only to the extent necessary for such
purposes:

    

    (2) disclose
the Confidential Information to its responsible employees or representatives.
but only to the extent necessary to carry out the purpose of the disclosure
pursuant to this Agreement;

    

    (3) hold
the Confidential Information in confidence. restrict disclosure of the
Confidential Information solely to those employees or representatives with a
need to know the Confidential Information and not disclose, transfer or offer to
disclose or transfer any Confidential Information to any other person or entity
without the prior written consent of the disclosing party; and

    

    (4) advise
its employees or representatives receiving Confidential Information of their
obligations with respect to the Confidential Information pursuant to the terms
of this Agreement and exercise a degree of care not less than the care used by
the disclosing party to protect its Confidential Information. but in no event
less than a reasonable degree of care.

    

    The
Confidential Information shall be deemed the property of the disclosing party
and the receiving party will return or destroy. in the discretion of the
disclosing party, all Confidential Information received in tangible form
immediately upon request. Any Confidential Information not so returned or
destroyed will remain subject to this Agreement. The provisions of this Section
10(b) shall commence on the date of execution by both parties as indicated above
and shall expire five (5) years after the date on which the receiving party
returns the Confidential Information as provided herein. Notwithstanding the
foregoing, a party shall have no obligation to preserve any Confidential
Information that: (i) was previously known to the receiving party, as can be
documented. free of any obligation to keep confidential and free of any
restriction on use or disclosure: (ii) is or becomes generally known to the
public other than as a result of disclosure by the receiving party; (iii) is or
becomes available to the receiving party on a nonconfidential basis from a
source other than the disclosing party, provided that such source is not bound
by any contractual, legal or fiduciary obligations prohibiting the disclosure or
transfer of the Confidential information: or lip is independently, developed by
the receiving party. as evidenced by the receiving party's written
records.

     

     

    -5-

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    If the
receiving party is compelled by lawful process ( whether by interrogatories.
requests for information or documents. subpoena. civil investigative demands or
other process) to disclose any Confidential Information, such party will provide
the other party with prompt written notice of any such demand so that the
disclosing party may seek a protective order or other appropriate remedy or
waive compliance with the provisions of this Agreement. If, failing the entry of
a protective order or other appropriate remedy or the receipt of a waiver
hereunder. the receiving party is. in the opinion of its outside legal counsel.
legally required to disclose the Confidential Information. such party may
disclose that portion of the Confidential Information which its outside legal
counsel advises that it is legally required to disclose and will use its best
efforts to obtain assurance that confidential treatment will be accorded to that
portion of the Confidential Information which is being disclosed. In no event
will the receiving party oppose action by the disclosing party to obtain a
protective order or other appropriate remedy or reliable assurance that
confidential treatment will be accorded to the Confidential
Information.

    

    11.           Indemnification.  Each
party hereto agrees to defend. indemnify and hold the other harmless from all
liabilities, losses. damages. claims, suits, costs and expenses (including court
costs and reasonable attorney's fees) including. without limitation, injury to
any person or damage to any property, arising out of the indemnifying party's
breach of or failure to perform any of its representations, warranties.
covenants, agreements or undertakings under this Agreement. Notwithstanding the
foregoing, neither party shall have any liability for lost profits sustained by
the other party or damage to the other party's good will. which shall include,
but not be limited to damage to trademarks and trade names. which loss or damage
results from a party's performance of its obligations under this Agreement or
failure to perform its obligations under this Agreement. Further, Vendee agrees
that any damages which it claims in connection with the recall of Products
manufactured by Vendor under this Agreement shall include only costs and
expenses paid to third parties. Further. Vendee agrees to defend. indemnify, pay
and hold Vendor harmless from all liabilities, losses. damages. claims, suits,
costs and expenses (including court costs and reasonable attorney's fees)
including, without limitation, injury to any person or damage to any property,
arising out or resulting from Vendee's marketing, distribution, and or delivery
of the Products to Vendee's customer: and/or that result from any actions, uses
or breach of intellectual property rights of third parties related to the
labeling, manufacturing, marketing and or sale of the Products, including but
not limited to the licensing of the Product trademarks.

    

    12.           Insurance. Vendor
represents and warrants that it currently has and will continue to maintain in
full force and effect for the duration of this Agreement a minimum of
$1,000,000.00 general liability, product liability and broad form vendor's
insurance. Vendor shall supply a new insurance certificate each year to Vendee
upon request. Vendee shall be named as an additional insured upon
request.

     

     

    -6-

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    13.           Force Majeure.
Failure of either party to perform any of its obligations under this Agreement
resulting from any cause or causes beyond its control (including but not limited
to strikes, labor disputes, fire, acts of God, terrorism or acts or orders of
the government) shall not constitute an actionable default or breach of this
Agreement; provided, however, that if any event makes Vendor unable to meet
Vendee's production schedules. Vendee. after notice to Vendor. shall have the
right to utilize any other  vendor for so long as Vendor's inability
continues. If such inability continues for more than one hundred twenty (120)
calendar days. then Vendee may terminate this Agreement immediately upon giving
notice thereof and Vendee and Vendor shall he relieved of any and all further
obligations hereunder to each other, except that Vendee shall he obligated to
continue to make payment to Vendor for Products shipped and for Products which
have been manufactured and produced and are ready for shipment. The time for
performance of any duty or obligation hereunder which cannot be performed as a
result of an event of Force Majeure, shall he extended for a period equal to the
duration of such inability to perform: notwithstanding the foregoing. it is
understood that events of Force Majeure shall not extend the time for payment of
any money which is due and payable or extend the term of this
Agreement.

    

    14.           Termination.  Either
party may immediately terminate this Agreement if the other party has failed to
perform or meet any material term or condition of this Agreement and has not
cured such failure within thirty (30) calendar days of receiving written notice
of such failure.

    

    15.           Remedies Cumulative.
The remedies granted in this Agreement are cumulative and in addition to other
remedies to which the parties may be entitled arising from any violation.
default or breach of this Agreement.

    

    16.           Miscellaneous.

    

    a.           Compliance with Laws.
Vendee shall comply with all laws applicable to the performance of its
obligations under this Agreement.

    

    b.           Effect of Agreement.
This Agreement sets forth the entire understanding of the parties, and
supersedes any and all prior agreements. arrangements and understandings,
written or oral. relating to the subject matter hereof.

    

    (c)           Governing Law. This
Agreement shall he governed by and construed in accordance with the laws of the
State of New York applicable to agreements made and to be performed entirely
within such State.

    

    (d)           Disputes. All
disputes arising in connection with this Agreement shall be brought in. and the
parties expressly consent to the jurisdiction and venue of the federal or state
courts located in the Monroe County. New York.

    

    (e)           Amendment and Waiver.
This Agreement may be amended only by a writing executed by each of the parties
hereto. No waiver of compliance with any provision or condition hereof, and no
consent provided for herein. shall be effective unless evidenced by an
instrument in writing duly executed by the party sought to be charged therewith.
No failure on the part of any party to exercise. and no delay in exercising, any
of its rights hereunder shall operate as a waiver thereof nor shall any single
or partial exercise by any party of any right preclude any other or future
exercise thereof or the exercise of any other right.

    

    (f)           Assignment. No party
shall assign or attempt to assign any of its rights or obligations under this
Agreement without the prior written consent of the other party
hereto.

     

     

    -7-

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
    

     

    g.           Notices. Etc. Each
notice, report, demand, waiver, consent and other communication required or
permitted to be given hereunder shall be in writing and shall be sent either by
registered or certified first-class mail, postage prepaid and return receipt
requested. or by telex or telecopier, addressed as follows:

    

    
      	
              (1)  

            	
              If
      to Vendee, to:

            
	 
      	 
      
	 
      	
              Attitude
      Drink Company

            
	 
      	
              11300
      U.S. Highway 1, Suite 207

            
	 
      	
              North
      Palm Beach, FL 33408

            
	 
      	 
      
	 
      	
              Attn:  _____________________

            
	 
      	
              Telephone
      No.: 877-799-5053

            
	 
      	
              Facsimile
      No.: 561-799-5039

            
	 
      	 
      
	
              (2)  

            	
              If
      to Vendor, to:

            
	 
      	 
      
	 
      	
              0-AT-KA
      Milk Products Cooperative, Inc. 700 Ellicott Street

            
	 
      	
              P.O.
      Box 718

            
	 
      	
              Batavia,
      NY 14021-0718

            
	 
      	
              Attn:
      C. A. McCampbell, Chief Operating Officer

            
	 
      	
              Telephone
      No.: 585-343-0536

            
	 
      	
              Facsimile
      No.: 585-343-4473

            

    

    

    Either
party may specify in writing, in the manner above provided, another address to
which subsequent notice to such party shall be given. Any notice or
communication given hereunder shall be deemed to have been given as of the date
immediately following the date so mailed; provided, however, that if such
following date shall be Saturday, Sunday, or a legal holiday, then the date of
the notice shall be the next regular business day.

    

    h.           Binding Effect.
Subject to the provisions of Section 16(f), this Agreement shall be binding upon
and shall inure to the benefit of the parties and their respective successors
and assigns. This Agreement creates no rights of any nature in any person not a
party hereto.

    

    i.  
Independent
Contractors. Vendor and Vendee are independent contractors with respect
to the rights and obligations created by this Agreement, and nothing herein
shall be construed to create any agency, joint venture, partnership or other
similar relationship. In addition, nothing herein shall be construed to
authorize either party to represent or commit the other party in negotiations or
transactions with third parties.

    

    j.           Headings;
Counterparts. The headings used in this Agreement are for convenience of
reference only and do not form a part hereof and shall not in any way modify,
interpret or construe the intent of the parties. This Agreement may be executed
in more than one

    counterpart.
each of which shall he deemed an original. and all of which together shall
constitute the same instrument.

     

     

    -8-

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    k.           Survival. The
provisions Of this Agreement that h\ their sense and context are intended to
survive termination of this Agreement shall so survive this
Agreement.

    

     

            IN WITNESS WHEREOF. the
parties hereto have executed this Agreement.

    

    
      
        
          	
                  ATTITUDE
      DRINK COMPANY

                	 
      	
                  O-AT-KA
      MILK PRODUCTS COOPERATIVE, INC.

                
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                  By:  /s/  Roy G.
      Warren

                	 
      	
                  By:  /s/  C.A.
      McCampbell

                
	
                  Roy
      G. Warren, CEO

                	 
      	
                  C.A.
      McCampbell

                  Chief
      Operating Officer

                
	 
      	 
      	 
      

        

      

    

     

     

     

     

    -9-

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Exhibit
A

    

    Products and Production
Schedule

    

     

    1.           Products:

    

    Slammers                      35g
Protein Drink -- chocolate and other flavors TBD

    

    Just                                
8g Protein Drink – chocolate and other flavors TBD

    

    2.           Packaging
Configuration:

    

    Slammers                      24
– 14.5 ft oz. Alumi-Tek bottles in trays

    

    Skimmers                      24
(6-4 pack) 14.5 fl. oz. Alumi-Tek bottles in trays

    

    Just                               24
– 8 fl. oz. Alumi-Tek bottles in trays

    

    Just                               24
(6-4 pack) 8 fl. oz. Alumi-Tek bottles in trays

    

    3           Production
Schedules:

    

    a.           Production
Forecast

    

    
      	
              1.  

            	
              Annual
      Slammers

            

    

    Annual
Just

    

    
      	
              2.  

            	
              Monthly
      Slammers

            

    

    Monthly
Just

     

     

    -10-

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Exhibit
B

    

    Specifications

    

    

    

    TO BE
COMPLETED UPON SIGN OFF OF FINAL FORMULA'S.

     

     

     

     

     

    -11-

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Exhibit
C

    

    

    Price of
Products

    

    TO BE
COMPIFTED UPON SIGN OFF OF FINAL FORMULA'S.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00155-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00155-of-00352.parquet"}]]