Document:

Exhibit 10.5

 

MASTER DISTRIBUTION AGREEMENT

 

This
Master Distribution Agreement (“Agreement”) is made and entered into on
this 16th day of July, 2010 (“Effective Date”),
by and between Corgenix Medical Corporation, a Nevada corporation (“Corgenix”),
with its principal place of business at 11575 Main Street, Suite 400,
Broomfield, Colorado 80020, United States of America, and Elitech UK Limited, a
private limited company formed under the laws of the United Kingdom (“Distributor”),
with its principal place of business at Unit 6 River Park Industrial Estate,
Billet Lane, Berkhamsted, Herts HP4 IHL, England.  Corgenix and Distributor are sometimes
referred to in this Agreement individually as a “Party” and,
collectively, as the “Parties.”

 

PRELIMINARY STATEMENTS

 

A.                                   Corgenix,
Financière Elitech SAS, a société par actions
simplifiée formed under the laws of France (“Elitech”), and
Wescor, Inc., a Utah corporation (“Wescor”) have entered into that
certain Common Stock Purchase Agreement (the “Stock Purchase Agreement”)
dated July 12, 2010, pursuant to which Wescor has agreed to invest in
Corgenix, and Corgenix and Elitech have agreed to establish a commercial
relationship.

 

B.                                     In connection
with the Stock Purchase Agreement, Corgenix desires to establish a commercial
relationship with Distributor, which is an Affiliate of Elitech and Wescor,
relating to the distribution of Products (as defined in Section 1.3)
pursuant to the terms and conditions set forth in this Agreement.

 

C.                                     Distributor
desires to obtain from Corgenix the exclusive rights to Distribute (as defined
in Section 1.1) the Products in the Territory (as defined in Section 1.1),
subject to the terms and conditions set forth in this Agreement.

 

AGREEMENT

 

The
Parties, intending to be legally bound, hereby agree as follows:

 

1.                                      Appointment of Distributor.

 

1.1                                 Scope of Appointment.  Subject to
Section 1.2, Corgenix hereby appoints Distributor, and Distributor
hereby accepts such appointment, as an independent and exclusive distributor
worldwide, with the exclusion of North America (the “Territory”), for
Products (as defined in Section 1.3) (the “Appointment”).
Distributor will have the right (a) to sell, distribute, market, promote,
stimulate interest in, and solicit orders for, Products; (b) to provide
any services that are useful in connection with those activities; and
(c) to use, solely as Corgenix’s distributor, Corgenix’s Trademarks (as
defined in Section 7.1) in strict accordance with the terms and
conditions of this Agreement (subclauses (a) through (c), collectively, “Distribute,”
“Distributing” or “Distribution”).

 

1.2                                 Effectiveness of Exclusivity; Limitations on
Distribution Rights.  Notwithstanding the provisions of Section 1.1,
until such time as the conditions of the Second Tranche Milestone shall have
been met and the Second Tranche Closing shall have occurred (as such terms are
defined in the Stock Purchase Agreement), Distributor expressly acknowledges
and agrees as 

 

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follows:  (a) neither Distributor nor any
Affiliate of Distributor will benefit from the exclusivity granted pursuant to Section 1.1;
(b) Corgenix will not be prohibited from directly or indirectly
Distributing Products into the Territory pursuant to Section 1.7,
nor will its failure to comply with the provisions of Section 1.7
constitute a breach of this Agreement; (c) Corgenix will not be required
to take any action against any distributor or other Person to prevent such
distributor or other Person from Distributing Products in the Territory, nor
will its failure to fulfill any other obligations set forth in Section 1.8
constitute a material breach of this Agreement; (d) neither Distributor
nor any Affiliate of Distributor will have any right to Distribute Products in
any jurisdiction in the Territory where Corgenix or any Affiliate of Corgenix
has granted exclusive distribution rights to another Person; and
(e) Distributor will not, and Distributor will not allow any Affiliate of
Distributor to, directly or indirectly seek to terminate or cause the
termination of any distribution agreement in effect on the Effective Date to
which Corgenix or any Affiliate of Corgenix is a party, without the prior
written consent of Corgenix or such Corgenix Affiliate, as appropriate, and
subject to all terms set forth in the Stock Purchase Agreement.

 

1.3                                 Products Covered.  “Products”
means the products set forth in Exhibit A and any additional
products as may be added to the scope of this Agreement from time to time
pursuant to Article 12.  For
the avoidance of doubt, Products does not include any products or services that
are not set forth in Exhibit A, including without limitation
products developed or manufactured by Corgenix after the Effective Date
pursuant to the equipment manufacturing or similar “OEM” agreements in effect
prior to the Effective Date and set forth on Exhibit B; provided, however, that during the Term of
this Agreement, Corgenix will not enter into any such agreements without the
prior written consent of Distributor, which consent shall not be unreasonably
withheld.  Corgenix reserves the right,
from time to time, in its sole and absolute discretion, to begin or discontinue
the manufacture of any of the Products and to make changes and improvements at
any time in the specifications, manufacture or design of any of the Products
without incurring any obligation to Distributor, provided, however, that Corgenix agrees to notify
Distributor not less than one hundred eighty (180) calendar days in
advance of any such addition, discontinuance, or changes and improvements.

 

1.4                                 Subdistributors.  Corgenix
grants to Distributor the sole and exclusive right to Distribute the Products
in the Territory through Distributor’s current and future distribution network
and other channels to be developed by Distributor, subject to the terms and
conditions of this Agreement, except as may be otherwise limited by applicable
law, rules or regulations in the Territory or the United States of
America; provided, however, that
Distributor will consult with Corgenix prior to adding any subdistributor,
reseller or agent to allow Corgenix the opportunity to recommend or discourage
such appointment.

 

1.5                                 No Distributor Sales Outside the Territory. 
Distributor will not knowingly directly or indirectly Distribute Products
outside the Territory.

 

1.6                                 Sales by Subdistributors, Resellers or Agents Outside
the Territory.  Distributor will not knowingly permit any
subdistributors, resellers or agents to Distribute Products outside the
Territory without the prior written consent of Corgenix.

 

1.7                                 No Sales by Corgenix in the Territory. 
Corgenix will not directly or indirectly Distribute Products into the
Territory.  Corgenix will use its best
efforts to refer to Distributor all 

 

2

 

customers in the
Territory who make inquiries of Corgenix or any of its distributors outside the
Territory regarding the Products in the Territory.  Corgenix’s failure to comply with the
provisions of this Section 1.7 will constitute an “Event of Default”
for purposes of Article 9.

 

1.8                                 Protection of Distributor’s Rights in the Territory. 
Corgenix will take any action (including the institution, prosecution or
defense of any lawsuit, the termination of any distribution agreement, or any
other action whatsoever) against any other distributor or other Person (as
defined in Section 1.9) to prevent such other distributor or Person
from Distributing Products in the Territory, or to otherwise enforce, defend or
protect Distributor’s distribution or other rights in any respect or manner
whatsoever.  Corgenix expressly agrees
that Corgenix will have such obligation, and that any failure or refusal by
Corgenix to take any such action will constitute a material breach of this
Agreement.  If Corgenix fails to bring
any such claim within ten (10) calendar days of receiving notice of
such claim from Distributor, Distributor will have the right to enforce such
claims directly.

 

1.9                                 Sale of Competitive Products. 
Neither Distributor nor any of its Affiliates will manufacture,
assemble, purchase, market, distribute, sell, lease or license to end-users,
through any form of direct or indirect marketing, products that are similar to
or competitive with any Products in the Territory without the prior written
consent of Corgenix, which consent will not be unreasonably conditioned,
delayed or withheld.  For purposes of
this Agreement, “Affiliate” of a specified Person means a Person that
directly or indirectly controls, is controlled by, or is under common control
with, such specified Person.  For
purposes of this definition, “control” means the possession, directly or
indirectly, of the power to direct or cause the direction of the management and
policies of a Person, whether through the ownership of voting securities, as trustee
or executor, by contract, or otherwise.  “Person”
means an individual, corporation, partnership, limited partnership, trust,
association, entity, or government (including a political subdivision, agency
or instrumentality of a government).

 

2.                                      Obligations of Distributor.

 

2.1                                 Minimum Purchase Quantities. 
Beginning on the First Closing Date (as that term is defined in the
Stock Purchase Agreement), representatives of the Parties and Corgenix U.K.
Ltd., a private limited company formed under the laws of the United Kingdom and
an Affiliate of Corgenix (“Corgenix U.K.”), will meet and negotiate in
good faith the minimum Product purchase quantities and other performance
criteria (“Minimum Quantity”) for the calendar year beginning on January 1,
2011.  Notwithstanding the foregoing, if
the Parties and Corgenix U.K. fail to reach an agreement on the Minimum
Quantity for the calendar year 2011 prior to December 31, 2010, the
Parties agree that the Minimum Quantity for the calendar year 2011 will be automatically
set to equal the purchase quantities and other performance criteria for
Products Distributed by Corgenix U.K. for the 2010 calendar year.  The Minimum Quantity will be established for
each Product group and not for individual Products.  As a material inducement to Corgenix to enter
into and consummate the transactions contemplated by this Agreement,
Distributor has agreed and specifically understands and accepts that the
establishment and its achievement of the Minimum Quantity is of the essence to
this Agreement.  Distributor will order
and take delivery of Products pursuant to Article 4 below.  The Minimum Quantity will be based upon
payments actually received by Corgenix. 
Distributor’s failure to achieve the Minimum Quantity in any period will
constitute a material breach of this Agreement, and 

 

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Corgenix may terminate
this Agreement for cause as set forth in Article 11.  Modifications to the Minimum Quantity will be
determined as follows:

 

(a)                                  If new Products are added to the scope of this Agreement pursuant to Article 12,
then the Parties agree to negotiate in good faith to determine a new Minimum
Quantity solely with respect to the Product group to which such new Products
are assigned that takes into consideration the addition of such new
Products.  If the Parties are unable to
agree on a new Minimum Quantity with respect to such Product group within
thirty (30) calendar days from the date that such new Products are added
to the scope of this Agreement, then the amount of the new Minimum Quantity
will automatically be determined by increasing the Minimum Quantity with
respect to such Product group in effect prior to the addition of such new
Products by three percent (3%).  The
Minimum Quantity of any such new Products will be pro-rated as of the date such
new Products are added to the scope of this Agreement.

 

(b)                                 If Products are discontinued pursuant to Section 1.3, then
the Parties agree to negotiate in good faith to determine a new Minimum
Quantity solely with respect to the Product group to which such discontinued
Products are assigned that takes into consideration the discontinuation of such
Products.  If the Parties are unable to
agree on a new Minimum Quantity with respect to such Product group within
thirty (30) calendar days from the date of discontinuation of such
Products, then the amount of the new Minimum Quantity will automatically be
determined by decreasing the Minimum Quantity with respect to such Product
group in effect prior to the discontinuation of such Products by three percent
(3%), pro-rated as of the date such Products are discontinued.

 

(c)                                  Beginning January 1, 2012, and during each month of January thereafter
during the Term of this Agreement (including any renewal Terms), the Parties
agree to negotiate in good faith to determine a new Minimum Quantity for the
calendar year in question.  The Parties
will begin their negotiations on November 1 of each year.  If the Parties are unable to agree on a new
Minimum Quantity for any calendar year by January 31 of such year, then
subject to any decreases in Minimum Quantity with respect Product groups
determined in accordance with Section 2.1(b), the amount of the new
Minimum Quantity for such calendar year will automatically be determined by
increasing the Minimum Quantity for the prior calendar year by two percent
(2%).

 

2.2                                 Marketing and Products Support. 
Distributor will at its sole cost and expense undertake the following:

 

(a)                                  Use its best efforts to market, sell and promote the sales of the
Products throughout the Territory to all potential purchasers thereof and work
diligently to obtain orders therefore.

 

(b)                                 Maintain adequate facilities and inventories of Products to ensure prompt
handling of inquires, orders, shipments, and returns.

 

(c)                                  Maintain a professional and diligent sales and customer support
organization appropriate for marketing, distributing, selling, leasing and
servicing Products in the Territory.

 

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(d)                                 In consultation with Corgenix, furnish its personnel with comprehensive
training to permit them to undertake pre-sales and post-sales support and
technical support to Distributor’s customers. 
Distributor will at its sole cost and expense participate in courses
that Corgenix may, in consultation with Distributor, formulate from time to
time.  Distributor will at its sole cost
and expense also participate in other training courses suitable for Distributor
personnel as Corgenix may recommend.

 

(e)                                  Attend such trade shows in the Territory as Corgenix and the Distributor
may mutually agree upon from time to time.

 

(f)                                    Use commercially reasonable efforts to keep Corgenix informed of
commercial and market conditions within the Territory and the activities of
customers and competitors, and regularly cover the trade and industry for the
purpose of promoting sales of the Products.

 

2.3                                 Advertising. 
Distributor will at its sole cost and expense undertake the following:

 

(a)                                  Actively participate in any Corgenix sales programs, special promotions
and advertising campaigns.

 

(b)                                 Develop professional merchandising programs to promote Products in the
Territory based upon advice and guidance from Corgenix.  Such programs will include advertising in the
press, television, radio and specialist media in the Territory, and public
relations campaigns and exhibitions. 
Corgenix expressly reserves the right to review Distributor
merchandising programs and advertising at any time and to direct Distributor to
cancel and withdraw any merchandising programs or advertising that Corgenix
reasonably deems to be unsuitable for its image.

 

2.4                                 Customer Support and Service. 
Distributor will at its sole cost and expense undertake the following:

 

(a)                                  Provide training and technical support to Distributor’s customers to
ensure that Products purchased by Distributor’s customers are properly used.
Distributor will be primarily responsible for its customer support, and
Distributor will only instruct customers to contact Corgenix directly with the
prior written consent of Corgenix.

 

(b)                                 Participate fully in any recall or customer notification campaigns
initiated by Corgenix with regard to Products from time to time.

 

(c)                                  Comply with all applicable laws and regulations in the Territory relating
to “used” or returned Products.

 

(d)                                 Comply with all requirements of Corgenix, including, without limitation,
the requirement that Distributor is prohibited from removing components of any
Products and selling such components separately.

 

2.5                                 Business Practices. 
The Distributor acknowledges
and agrees that at all times during the Term of this Agreement it and its
agents, as the case may be, shall:

 

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(a)                                  Conduct its business in accordance with the highest business standards
and not perform any act which will or may reflect adversely upon the business
integrity or goodwill of Corgenix.

 

(b)                                 Not, in areas outside the Territory without the Corgenix’s prior written
consent:  (i) solicit customers for
the Products; or (ii) establish or maintain any branch office or other
sales outlet or storage depot for the purposes of the sale or distribution of
the Products.

 

(c)                                  Keep full, proper and up-to-date books of accounts and records showing
clearly all inquiries, transactions and proceedings relating to the
distributorship granted hereby, allow Corgenix’s authorized representatives
reasonable access to such books and records upon reasonable notice and during
Distributor’s normal business hours, and make copies as they shall require.

 

(d)                                 Not make any representations or warranties regarding the Product’s
performance capabilities, qualities, or fitness for any particular purpose
except as published in Corgenix’s trade literature for the Products or as
expressly authorized by Corgenix in writing.

 

(e)                                  Promptly furnish Corgenix with a record of its inventory of the Products
when and if requested by Corgenix, maintain suitable premises necessary to
ensure that the Product inventory is kept in good condition, and allow Corgenix
to inspect such facilities as it may reasonably require not more than two (2) times
during each calendar year, upon reasonable notice and during Distributor’s
normal business hours.

 

(f)                                    Provide its customers with all Corgenix instruction sheets and warnings
applicable to the Products and use commercially reasonable efforts to advise
and assist its customers as to the use and application of the Products.  Distributor shall use commercially reasonable
efforts to maintain accurate and complete records of its activities in this
regard.

 

2.6                                 Approvals. 
Distributor acknowledges that Corgenix shall have no obligation to
supply any of the Products or related technology under this Agreement to
Distributor unless and until Corgenix has received all necessary licenses or
authorizations or has qualified for license exceptions under such laws,
regulations, orders and requirements.

 

2.7                                 Distributor Prices.  Prices for
the sale by Distributor of Products in the Territory will be established and
revised from time to time by Distributor in its sole discretion.

 

2.8                                 Third-Party Inquiries.  During the
Term of this Agreement, Distributor will refer to Corgenix all inquiries from
third parties regarding the Distribution of Products outside the Territory.

 

3.                                      Obligations of Corgenix.

 

3.1                                 Supply of Products.  Corgenix
will undertake the following:

 

(a)                                  Use its commercially reasonable efforts to manufacture, assemble and ship
Products ordered by Distributor pursuant to Article 4 to
Distributor in a timely manner within customary business practices.

 

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(b)                                 Keep Distributor informed of Products supply availability.

 

3.2                                 Marketing Assistance.  Corgenix
will undertake the following:

 

(a)                                  At Corgenix’s sole cost and expense, make available to Distributor a
reasonable quantity of Products literature and promotional materials in a form
suitable for reproduction or duplication by Distributor.  All such materials supplied to Distributor
will be in the English language, or, upon mutual agreement by the Parties, in
another language.  The Parties will
mutually agree on the translation of marketing materials into another language
based on the market opportunity and will collaborate and evaluate such
opportunity together.  Distributor may
reproduce and translate the materials at Distributor’s sole expense.  Corgenix will have the right to approve all
such translated or reproduced materials prior to their use with potential
customers; provided, however, that such approval
will not be unreasonably conditioned, withheld or delayed.

 

(b)                                 Respond promptly to any queries concerning Products or applications of
Products that Distributor may submit to Corgenix in connection with proposed
marketing campaigns or contemplated sales.

 

(c)                                  Consider and approve in a timely manner Distributor’s marketing and
advertising activities.

 

3.3                                 Training and Conferences.  Corgenix
will at its sole cost and expense undertake the following:

 

(a)                                  Sponsor or conduct distributor training courses at times and places to be
mutually agreed upon by the Parties. 
Corgenix will not charge any training fees for such courses sponsored or
conducted by Corgenix; however, Distributor will be solely responsible for
payment of all of its costs and expenses of participation, including, without
limitation, travel, food and lodging.

 

(b)                                 Identify and recommend third-party training courses that may benefit
Distributor’s sales and service personnel. 
Distributor will be responsible for all costs and expenses related to
such courses.

 

4.                                      Ordering and Delivery of Products.

 

4.1                                 Long-Term Forecasts.  Prior to
the transition of Corgenix’s international business to Distributor and on a
quarterly basis thereafter, Distributor agrees to provide Corgenix with a
rolling four-quarter forecast and procurement schedule that covers Distributor’s
expected purchases of Products.  If
Distributor becomes aware of any item which will have significant change in
volume of purchases, Distributor will use reasonable efforts to notify Corgenix
promptly of the expected change in forecast to ensure the availability of such
Products when needed.  Such forecasts
will be non-binding.

 

4.2                                 Purchase Orders.  No later
than thirty (30) calendar days prior to the scheduled date of shipment of
Products from Corgenix facilities, Distributor will submit a purchase order to
Corgenix substantially in the form attached as Exhibit C (each, a “Purchase
Order”).  Distributor 

 

7

 

will send Purchase Orders
by facsimile or electronic mail, provided that Distributor delivers a signed
original to Corgenix promptly thereafter. 
No Purchase Order shall be binding upon Corgenix unless and until
accepted either in writing or electronically by an authorized official of
Corgenix, which acceptance will not be unreasonably conditioned, withheld or
delayed, and it complies with all requirements under law.  All accepted Purchase Orders submitted by
Distributor will be accepted by facsimile or electronic mail by Corgenix, with
a signed original notice of acceptance of the Purchase Order dispatched within
two (2) business days of receipt. 
Each Purchase Order will be deemed an offer by Distributor to purchase
Products listed in such Purchase Order and, when accepted by Corgenix, will
constitute a contract in accordance with the terms and conditions of the
Purchase Order and this Agreement.  Any
amended or additional terms supplied in or with the Purchase Order by
Distributor will be invalid and have no force or effect, unless specifically
and clearly agreed to in a writing signed by Corgenix.

 

4.3                                 Modifications of Purchase Orders.  Once
a Purchase Order has been accepted by Corgenix, Distributor will only be
entitled to defer or cancel it subject to the following charges, which will be
calculated as a percentage of the Product Prices (as defined below) in effect
on the date of acceptance of the Purchase Order:  (a) a deferment charge of five
percent (5%); and (b) a cancellation charge of five percent
(5%).  The following conditions will also
apply:

 

(a)                                  Each deferment is limited to a maximum of ninety (90) calendar days from
Corgenix’s scheduled shipment date.

 

(b)                                 Deferments or cancellations that occur due to Distributor’s failure
(i) to meet the terms of this Agreement; (ii) to satisfy Corgenix on
payment arrangements under Section 5.3 below; or (iii) to
provide Corgenix with proper import licenses or related documentation when
required, will be subject to the charges set forth above for deferments or
cancellations, as appropriate.

 

(c)                                  Any order that is deferred will not relieve Distributor of its obligation
to purchase the Minimum Quantity under Section 2.1 above, and
Distributor will be obligated to purchase the cumulative Minimum Quantity in
the next applicable period for orders that have been deferred to such period.

 

4.4                                 Minimum Quantity Purchases. 
Distributor’s forecasts and Purchase Orders will meet the cumulative
Minimum Quantity obligations for the Term.

 

4.5                                 Supply.  Unless
otherwise agreed in writing by Corgenix, Distributor will not purchase in any
one calendar quarter more than one hundred twenty-five percent (125%) of
the forecast for such quarter prepared and delivered by Distributor to Corgenix
pursuant to Section 4.1.  In
the event of a shortfall in supply, Corgenix reserves the right to allocate its
production among its distributors, customers and end-users as it deems
appropriate, in its sole discretion, including the right to make no shipments
or make delayed or partial shipments. 
Deferment and cancellation charges set forth in Section 4.3
will not apply to the extent that Corgenix is unable to meet its scheduled
shipment date or otherwise to supply Products to meet Distributor’s
orders.  Corgenix will not be liable to
Distributor in any way for any failure to supply quantities of Products that
may have been agreed upon from time to time with Distributor.  Notwithstanding the foregoing, a failure by
Corgenix to deliver Products within sixty (60) 

 

8

 

calendar days of Corgenix’s
scheduled shipment date will constitute an Event of Default for purposes of Article 9.  Failure of Distributor to meet the Minimum
Quantity caused solely by Corgenix’s inability to meet its scheduled shipment
date or to supply Products to meet Distributor’s orders will not constitute a
material breach of this Agreement by Distributor.  Additionally, Corgenix shall have the right
(i) to cancel any order previously received for any Products which are
subsequently discontinued, (ii) to refuse to accept any order for the
Products which are discontinued, and (iii) to refuse to accept any order
for the Products that does not comply with or conflicts with the terms of this
Agreement; provided, however,
that the failure of Distributor to meet the Minimum Quantity as a result of
Corgenix’s cancellation of orders pursuant to sub-clauses (i) or (ii) will
not constitute a material breach of this Agreement by Distributor.

 

4.6                                 Delivery, Shipment Terms and Title. 
Products are sold FCA Corgenix’s factory or warehouse as specified by
Corgenix, as defined in accordance with the latest version of Incoterms (the
version at the date of signature of this Agreement is Incoterms 2000).  Corgenix shall have no further responsibility
for Products, and the title of and all risk of damage to or loss or delay of
Products shall pass to Distributor upon their delivery at the FCA delivery
point to a carrier or an agent or any other Person designated by
Distributor.  Risk of loss or damage to
Products shall pass to Distributor upon delivery in accordance with this Section 4.6.  Distributor will arrange to provide and be
solely responsible for all freight costs. 
All deliveries will be subject to, and Distributor will pay, standard
handling charges as set from time to time by Corgenix for deliveries of Products
to customers of similar status.  Upon
delivery, all Products shall be insured by Distributor for its own account and
at its own expense, or, at the request of Distributor, by Corgenix, for
Distributor’s account and at Distributor’s expense.  Any shortages or damages discovered at the
time of delivery at Corgenix’s plant must be acknowledged and signed for by
Corgenix.  All claims for shortages or
damages suffered in loading or in transit are the responsibility of Distributor
and shall be submitted by Distributor directly to the carrier.  Distributor shall be responsible for
obtaining all necessary export licenses, certificates of origin or other
required documents, and ensuring that all applicable customs duties and taxes
in respect of the exportation and re-sale of Products are paid.

 

5.                                      Prices and Payments.

 

5.1                                 Distributor’s Purchase Price.  The
prices for Products purchased by Distributor under this Agreement (“Product
Prices”) will be as follows:

 

(a)                                  From the Effective Date through December 31, 2010, the Product
Prices will be set at the intercompany prices paid by Corgenix U.K. when
purchasing Products from Corgenix, as such prices were in effect on
July 1, 2010, and as previously disclosed by Corgenix to Distributor.

 

(b)                                 Beginning on the First Closing Date, representatives of the Parties and
Corgenix U.K. will meet and negotiate in good faith the Product Prices for the
calendar year beginning on January 1, 2011.  Notwithstanding the foregoing, if the Parties
and Corgenix U.K. fail to reach an agreement on the Product Prices for the calendar
year 2011 prior to December 31, 2010, the Parties agree that the Product
Prices for the calendar year 2011 will be automatically determined on a
Product-by-Product basis using the following formula:

 

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(A+B)/2
= Price per Product

 

A               =                  Corgenix’s fully burdened manufacturing costs as determined using United
States generally accepted accounting principles, consistently applied, in
effect from time to time as of the fiscal year ending June 30, 2010; and

 

B                 =                  Average unit price per Product at which Corgenix U.K. sold such Product
during the previous twelve (12) calendar months ending June 30, 2010.

 

(c)                                  Except as otherwise expressly set forth in any statement of Product
Prices, such Product Prices do not include any existing or future taxes,
tariffs, fees, duties, levies, freight, shipping, insurance or any other costs
and expenses whatsoever applicable to Products sold under this Agreement, all
of which shall be paid by Distributor.

 

5.2                                 Price Changes.  Corgenix
reserves the right, in its sole discretion, to change the price of any Products
without liability whatsoever, provided that:

 

(a)                                  Corgenix will only increase or decrease Product Prices once per
year.  Corgenix will submit price
increases or decreases to Distributor on November 1 of each year so that
such price increases can be taken into consideration by the Parties in
determining Minimum Quantity for the subsequent calendar year pursuant to Section 2.1(c).

 

(b)                                 The list price given to Distributor by Corgenix shall be that in effect
at the time the Purchase Order is received by Corgenix from Distributor.

 

5.3                                 Invoice and Payment Terms.

 

(a)                                  Corgenix will invoice Distributor for Products as of the date of
shipment.  The invoice will be sent by
electronic mail, followed by an original mailed to Distributor within two (2) business
days.  The invoice will include all
charges relating to that shipment as well as any other charges owed by
Distributor under this Article 5.

 

(b)                                 In addition to invoices sent by Corgenix to Distributor pursuant to Section 5.3(a) above,
Corgenix will send to Distributor a global statement of account for each
calendar month within two (2) business days following the end of such
calendar month.  Corgenix will send the
global statement of account by electronic mail, followed by an original mailed
to Distributor within an additional two (2) business days.  The global statement of account will include
a complete and accurate list of all outstanding invoices sent by Corgenix to
Distributor during the month in question pursuant to Section 5.3(a) and
such additional supporting documentation as may be necessary to permit
Distributor to match such invoices with Purchase Orders submitted by
Distributor for such month.

 

(c)                                  Distributor will pay for Products in U.S. dollars by wire transfer
received in Corgenix’s designated bank account no later than sixty (60)
calendar days following the date that Products are delivered in accordance with
Section 4.6.  If Distributor
fails to make payment in full within the time period set forth in the preceding
sentence, Corgenix will be entitled to recover all reasonable costs of
collection in addition to interest on overdue amounts at the rate of one and
one-half percent (1.5%) per month; provided, however,
that any amounts claimed by

 

10

 

Corgenix and disputed in good faith by Distributor
will not begin to accrue interest until the dispute involving such amounts has
been resolved by the Parties.  All
payments must reference the invoice being paid. 
At Corgenix’s option, Distributor may pay for Products in another
currency designated by Corgenix, in which case, the rate of exchange from U.S.
dollars to the other currency will be the applicable rate set forth in The Wall Street Journal — U.S. Edition, on the date of
Corgenix’s acceptance of the Purchase Order.

 

5.4                                 Fees and Taxes.

 

(a)                                  Distributor will pay all taxes, tariffs, fees, duties, levies or other
charges that are levied or asserted by any public authority in connection with
Distributor’s activities as a Corgenix distributor by reason of or in
connection with this Agreement.

 

(b)                                 Any tax, tariff, fee, duty, levy or other charge that Corgenix may be
required by federal, state, municipal or other law now in effect or hereafter
enacted, to withhold, collect or pay with respect to the sale, delivery or use
of any Products will be added to the price of such Products.

 

6.                                      Returned Non-Defective Products.

 

6.1                                 Charge on Returned Non-Defective Products. 
Distributor shall not have the right to return any Products to Corgenix
unless and until Corgenix shall give its express written consent to such return
on Corgenix’s return authorization form. 
All requests to return any Products to Corgenix shall be in writing and
shall include Distributor’s Purchase Order number and Corgenix’s invoice
number.  All returns shall be accompanied
by a completed copy of Corgenix’s return authorization form.  With respect to any Products that are
accepted for return by Corgenix, if Distributor paid for the Products,
Distributor shall receive a credit for such returned Products in an amount to
be determined solely by Corgenix in the exercise of its reasonable judgment
after receipt and inspection of such returned Products (but in no event greater
than the original purchase price of such Products); provided, however, no credit shall be granted on any
Products that are returned to Corgenix more than sixty (60) calendar days
after the date of the invoice for such Products, nor will Corgenix accept any
opened Products.  Distributor shall not
process or make any deductions or claims for any Products that are returned to
Corgenix unless and until Distributor has received a credit memorandum from
Corgenix relating to such Products. 
Distributor will pay for return transportation, insurance and all other
related charges.

 

6.2                                 Procedures and Location.  All
Products must be returned to Corgenix at the address indicated in the Purchase
Order, or if none is specified, to an address indicated by Corgenix.  If approved by Corgenix, Distributor will be
assigned a specific Return Merchandise Authorization Number for return of
Products.  Returned merchandise must be
received at Corgenix’s address no later than the twenty-fifth (25th) day of the month
in order for Distributor to receive a credit during the following month;
merchandise returned after the twenty-fifth (25th) day will not be credited until the second
month thereafter.

 

11

 

7.                                      Advertising, Trademarks and Trade Names.

 

7.1                                 Exclusive Ownership of Trademarks and Trade Names.  Distributor
acknowledges that Corgenix and/or its Affiliates are the sole and exclusive
owners of the name “Corgenix” and any abbreviations thereof; and any and all of
Corgenix’s trademarks and trade names, service marks, trade logos and trade
dress and foreign language equivalents thereof, including those described in Exhibit D
to this Agreement (collectively, the “Trademarks”), and as each may be
unilaterally amended from time to time by Corgenix (whether registered or
not).  Distributor acquires no rights to the
Trademarks other than those set forth in this Agreement, and Distributor hereby
assigns and transfers to Corgenix all rights other than those granted in this
Agreement that it may acquire in and to the Trademarks, whether by operation of
law or otherwise.

 

7.2                                 Grant of Trademark License. 
Corgenix hereby grants to Distributor during the Term a non-transferable
and royalty-free right and license to use the Trademarks in the Territory for
the limited and sole purpose of (a) applying for, obtaining and maintaining
any required regulatory approvals; and (b) Distributing Products.  Such use by Distributor of the Trademarks in
the Territory will be in strict accordance with the Corgenix advertising style
guide, the receipt of which is hereby acknowledged by Distributor.  Corgenix will have all right, title and
interest to the translations, except for the limited right to use granted to
Distributor under this Agreement. 
Distributor will treat the Trademarks distinctively (as to typography)
and will reproduce Corgenix’s symbols (including Corgenix’s monogram)
photographically, not artistically. 
Distributor will not use the name “Corgenix” or abbreviations thereof in
its public title and will not give permission to others, including Distributor’s
customers, to use that title or abbreviations thereof in any manner
whatsoever.  Distributor will not adopt
or use any trademark, trade name, service mark or product name that might be
confusingly similar to the Trademarks. 
Distributor will not take any action inconsistent with the limited scope
of this license of the Trademarks to Distributor.

 

7.3                                 Permitted Uses and Duties.  In
furtherance of Sections 7.1 and 7.2 above, Distributor
agrees to:

 

(a)                                  Sell and advertise Products exclusively under the Trademarks and not use the
Trademarks other than with reference to Products.

 

(b)                                 Notify Corgenix of any actual or suspected misuse or infringement of the
Trademarks in the Territory.

 

(c)                                  Upon Corgenix’s request, assist, at Corgenix’s expense, in such legal
proceedings as Corgenix will deem necessary for the safeguarding of any
Trademarks in the Territory, and execute and deliver in accordance with
Corgenix’s request such documents and instruments as may be necessary or
appropriate in the conduct of such proceedings.

 

(d)                                 Neither make nor permit any alteration in any tags, labels, copyright
notices or other identifying marks placed by Corgenix (or Corgenix’s licensors)
on Products, any and all components of Products or associated packages,
wrapping or containers.

 

12

 

(e)                                  Not assert the invalidity of or contest Corgenix’s ownership of the
Trademarks, and not take any action that may prejudice the validity of Corgenix’s
right, title and interest in and to the Trademarks.

 

(f)                                    Assist Corgenix, at Corgenix’s expense, in the registration and/or
renewal of registration of any Trademarks in the Territory as Corgenix may
determine to be necessary or desirable, and execute such documents and
instruments as may be necessary to register or to apply for the registration
(or registration renewal) of such Trademarks.

 

7.4                                 Inspection and Compliance Checks.  All
uses by Distributor of the Trademarks will be subject to the review and
approval of Corgenix, and Distributor will share with and submit to Corgenix
any ideas, proposals, schematics or plans for use of such Trademarks as early
as possible.  In addition, Distributor
will, no later than seven (7) calendar days prior to any publication
or printing deadline, transmit a copy of the actual materials in which such
Trademark is to be used, for Corgenix’s review and approval.  Corgenix reserves the right to withdraw
authorization for use of the Trademarks if Corgenix reasonably determines that
Distributor is not using the Trademarks in a manner consistent with the terms
of this Agreement.  Distributor’s failure
immediately to cease using the Trademarks and to recall and to collect the
promotional materials, advertising or Products improperly displaying the
Trademarks within ninety (90) calendar days of Corgenix’s notice to do so,
will constitute a material breach of this Agreement, and Corgenix may terminate
this Agreement for cause as set forth in Article 11 below.

 

8.                                      Patents.

 

8.1                                 Exclusive Ownership of Patents. 
Distributor acknowledges that Corgenix and/or its Affiliates are the
sole and exclusive owners or, alternatively, the authorized licensees of the
patents related to the Products and rights under applications for patents,
whether foreign or domestic, including, without limitation, those patents and
applications described in Exhibit E to this Agreement
(collectively, the “Patents”), and as each may be unilaterally amended
from time to time by Corgenix. 
Distributor acquires no rights to the Patents other than those set forth
in this Agreement, and Distributor hereby assigns and transfers to Corgenix all
rights other than those granted in this Agreement that it may acquire in and to
the Patents, whether by operation of law or otherwise.

 

8.2                                 Grant of Patent License.  Corgenix
hereby grants to Distributor during the Term a non-transferable and
royalty-free right and license to use the Patents in the Territory for the
limited and sole purpose of (a) applying for, obtaining and maintaining
any required regulatory approvals; and (b) Distributing Products.

 

8.3                                 Patent Infringement Indemnification. 
Corgenix will indemnify, hold harmless and defend Distributor from and
against any action brought against Distributor to the extent based on a claim
that Products infringe any duly issued patent right if Distributor promptly
notifies Corgenix of the claim, furnishes Corgenix a copy of each writing
relating to the claim and gives Corgenix authority, information and assistance
(at Corgenix’s expense) necessary to defend or settle the claim.  This obligation excludes infringement arising
out of (a) unauthorized use of Products; (b) post-delivery Product
modifications; or (c) the combination, operation or use of Products with
non-Corgenix supplied products if a different combination would avoid the 

 

13

 

infringement. THIS
INDEMNITY IS CORGENIX’S SOLE LIABILITY AND DISTRIBUTOR’S SOLE REMEDY FOR
INFRINGEMENT OF PATENTS.

 

9.                                      Rights to Manufacture and Distribute Products; Escrow.

 

9.1                                 Rights to Manufacture Products. 
Distributor agrees that during the Term of this Agreement, it will not
manufacture or have manufactured the Products; provided,
however, that if (a) an Event of Default by Corgenix, or
(b) an event of “force majeure” occurs and continues unremedied and
unabated for a period of thirty (30) consecutive calendar days after
notice thereof from Corgenix to Distributor, the effect of which Event of
Default or event of force majeure is to preclude Distributor from Distributing
the Products in the Territory, then Distributor may make or have made the
Products for Distribution in the Territory after the end of such
thirty (30) calendar day period and thereafter during the Term until such
Event of Default or event of force majeure is cured or abates, and for a period
of thirty (30) calendar days thereafter.

 

9.2                                 Rights to Synthesize Products. 
Distributor will not have any rights to synthesize any of the Products
or such Products’ proprietary components at any time without the express, prior
written approval of Corgenix.  Corgenix
will retain all synthesis rights for all Products and will supply either raw
chemical components directly or through licensed third-party manufacturing
sources in fulfillment of Distributor’s long-term Product forecasts as
specified in Section 4.1.  In
no event will Corgenix’s pass-through margin from Corgenix’s supplier exceed
ten percent (10%).

 

9.3                                 Escrow.  Corgenix
agrees that not later than six (6) calendar months following the
Effective Date it will deposit the formula and all associated know-how
reasonably necessary for Distributor to make or have made the Products
representing the top twenty (20) Corgenix proprietary Products determined
by gross revenues (the “Deposit Materials”) with an independent,
third-party escrow agent that will hold the Deposit Materials as mutually
agreed by the Parties pursuant to an escrow agreement (“Escrow Agreement”)
substantially in the form attached as Exhibit F.  For the avoidance of doubt, Corgenix
proprietary Products does not include any Products that Corgenix purchases from
third parties and for which Corgenix is prohibited (by law, contract or
otherwise) from depositing associated Deposit Materials pursuant to this Section 9.3.  Within ninety (90) calendar days after
the end of each calendar quarter, Corgenix will deposit with the escrow agent
any enhancements, modifications, updates, new releases, or documentation
related to the Deposit Materials held by it by delivering to such escrow agent
an updated version of the Deposit Materials held by it.  Corgenix represents and warrants that the
Deposit Materials taken as a whole will at all times provide all information
reasonably necessary for someone skilled in the art to manufacture and properly
administer such Products.

 

10.                               Term.

 

10.1                           Initial Term.  This Agreement
will have an initial term of five (5) years from the Effective Date
unless sooner terminated pursuant to Article 11.

 

10.2                           Renewals.  Unless
sooner terminated pursuant to Article 11, the initial term will be
automatically renewed for successive consecutive five (5) year
periods (each such renewal 

 

14

 

term, collectively with
the initial term, the “Term”) thereafter unless either Party sends
notice to the other party, not more than two hundred seventy (270)
calendar days and not less than one hundred eighty (180) calendar days
before the end of the then-existing Term, of such Party’s desire to terminate
this Agreement at the end of the then-existing Term, in which case this
Agreement will terminate at the end of the then-existing Term.  If this Agreement is renewed, the Parties
will agree upon a new Minimum Quantity for the renewal term in accordance with
the provisions of Section 2.1 above.  If this Agreement is so renewed upon the
mutual agreement of the Parties, the renewal term will commence immediately
upon expiration of the prior Term.

 

10.3                           Effect of Non-Renewal.

 

(a)                                  If this Agreement is not renewed pursuant to Section 10.2 and
expires, Corgenix will nevertheless continue to deliver Products pursuant to
the terms and conditions set forth in this Agreement until the last tender
between Distributor, any Affiliate of Distributor or any subdistributor, on the
one hand, and any customer for Products, on the other hand, expires or is
terminated.

 

(b)                                 Upon expiration of this Agreement, Distributor (i) will discontinue
immediately all marketing, promotion, advertising or reference to Products;
(ii) will have no further rights to the use of Corgenix’s marketing,
promotion or advertising materials or other resources, or the Trademarks; and
(iii) will not participate in any requests for tenders to the extent that
such tenders involve the sale of Products or the performance of services in
connection with Products.  Notwithstanding
the foregoing, nothing will prohibit Distributor from continuing to use
Corgenix’s marketing, promotion or advertising materials, other resources, or
Trademarks in connection with tenders existing on the date this Agreement
expires.

 

(c)                                  Upon expiration of this Agreement, Corgenix will be wholly discharged and
released of any and all obligations or liability under this Agreement, except
as otherwise expressly set forth in this Agreement including, without
limitation, Sections 10.3(a) and 10.3(b) above.  Distributor will remain liable, however, for
any obligations for unpaid balances for Products, and each Party will remain
liable for damages due to such Party’s breach of this Agreement.

 

11.                               Termination.

 

11.1                           Termination For Cause.  This
Agreement may be terminated for cause as follows:

 

(a)                                  By Corgenix if the Second Closing Date (as defined in the Stock Purchase
Agreement) does not occur as a result of Elitech’s or Wescor’s breach of the
Stock Purchase Agreement; or by Distributor if the Second Closing Date does not
occur as a result of Corgenix’s breach of the Stock Purchase Agreement.

 

(b)                                 By either Party upon thirty (30) calendar days’ prior written notice
if the other Party commits a material breach of the Agreement and fails to cure
the breach within the thirty (30) calendar day period.  By way of example, but not limitation,
material breaches include violations described in Sections 1.8 and 7.4.

 

15

 

(c)                                  Automatically if either Party files for or has instituted against it any
proceedings as to its bankruptcy, insolvency, reorganization, liquidation,
receivership or dissolution or upon any assignment of such Party’s assets for
the benefit of creditors.

 

(d)                                 By Corgenix upon thirty (30) days’ prior written notice if:

 

(i)                                     Distributor fails to meet the Minimum Quantity specified in Section 2.1
above;

 

(ii)                                  Distributor becomes generally ineligible to obtain or receive approval
for any license or export/import documents as are necessary to buy and resell
Products in any material jurisdiction within the Territory; or

 

(iii)                               Distributor assigns this Agreement without the prior written consent of
Corgenix to any other party.

 

11.2                           Effect of Termination.

 

(a)                                  Upon termination of this Agreement, Corgenix may, at its option,
terminate any or all unfilled orders if such termination is the result of
Distributor’s breach of this Agreement; otherwise, Corgenix will continue to
deliver Products pursuant to the terms and conditions set forth in this
Agreement until the last tender between Distributor, any Affiliate of
Distributor or any subdistributor, on the one hand, and any customer for
Products, on the other hand, expires or is terminated.

 

(b)                                 Upon termination of this Agreement, Distributor (i) will discontinue
immediately all marketing, promotion, advertising or reference to Products;
(ii) will have no further rights to the use of Corgenix’s marketing,
promotion or advertising materials or other resources, or the Trademarks; and
(iii) will not participate in any requests for tenders to the extent that
such tenders involve the sale of Products or the performance of services in
connection with Products. 
Notwithstanding the foregoing, provided that this Agreement is not
terminated as a result of Distributor’s breach, nothing will prohibit
Distributor from continuing to use Corgenix’s marketing, promotion or
advertising materials, other resources, or Trademarks in connection with
tenders existing on the date this Agreement is terminated.

 

(c)                                  Upon termination of this Agreement, Corgenix will be wholly discharged
and released of any and all obligations or liability under this Agreement,
except as otherwise expressly set forth in this Agreement including, without
limitation, Sections 11.2(a) and 11.2(b) above.  Distributor will remain liable, however, for
any obligations for unpaid balances for Products, and each Party will remain
liable for damages due to such Party’s breach of this Agreement.

 

(d)                                 The provisions of Articles 8 and 13, and Sections 7.1,
10.3, 11.2, 14.1, 14.2, 15.1, 15.2, 15.3,
16.3, 16.5, 19.2, 19.3, 19.4, and 19.6
will survive any termination or expiration of this Agreement.

 

16

 

12.                               New Products.

 

12.1                           Additional Products.  Subject to
Article 1, in the event that Corgenix develops or licenses additional
products, processes, substances, chemical compounds, devices or treatments that
are related to any Products covered by this Agreement (“Additional Products”),
Corgenix agrees to promptly notify Distributor of all such Additional Products
and the Parties agree to negotiate in good faith with the respect to the
addition of such Additional Products to the scope of this Agreement and the
consideration of such Additional Products, as appropriate, for purposes of this
Agreement.

 

12.2                           Right of First Refusal to Distribute Additional
Products and Ideas.  For any Additional Products the Parties agree
is appropriate for inclusion in this Agreement, as provided in Section 12.1,
if Distributor is willing to Distribute Products developed from the Additional
Products in the Territory, Distributor will notify Corgenix of such fact within
sixty (60) calendar days of such notification.  Upon delivery by Distributor of such notice
to Corgenix, (a) Distributor will have the sole and exclusive right to
Distribute products or perform services developed from the Additional Products
in the Territory during the Term; (b) such new products and/or services
will be Products for purposes of this Agreement; and (c) the Parties will
execute a written agreement or memorandum acknowledging and agreeing to the
foregoing.  If Distributor declines to
Distribute products or perform services developed from any particular
Additional Products, Corgenix may Distribute such products or perform such
services developed from such Additional Products in the Territory itself or
through other distribution channels.

 

13.                               Confidentiality.

 

The
Parties hereby expressly agree that any confidential information delivered by
either Party to the other Party pursuant to this Agreement will be deemed “Confidential
Information” subject to all of the terms and provisions contained in that
certain mutual non-disclosure agreement (the “Confidentiality Agreement”)
dated July 16, 2010, by and among the Corgenix Group and the Elitech Group
(as those terms are defined in the Confidentiality Agreement).

 

14.                               Export Controls.

 

14.1                           Laws of the United States and the Territory. 
Distributor:

 

(a)                                  Acknowledges that the supply by Corgenix under this Agreement of the
Products and related technology, including but not limited to proprietary
technical information by Corgenix, is subject to all applicable import, export
control and sanctions laws, regulations, orders and requirements as they may be
amended from time to time.

 

(b)                                 In this regard Distributor agrees that it shall not, and it shall use
commercially reasonable efforts to ensure that its principals, shareholders,
directors, officers, employees, agents and other persons working on its behalf
in connection with this Agreement (collectively, the “Related Persons”)
do not, take any actions pursuant to this Agreement that might result in:

 

(i)                                     The diversion of any goods, software or technology from the stated
destination, end-use or end-user;

 

17

 

(ii)                                  The modification or transformation of the Products for uses other than
the end-use notified to Corgenix;

 

(iii)                               The use, transfer, release, export or re-export, re-sale, transshipment
or diversion of any goods, software, technology or information in violation of
any applicable export control and sanctions laws, regulations, or orders,
including those of the United States, including without limitation the Export
Administration Regulations, the International Traffic in Arms Regulations and
the Office of Foreign Asset Control Regulations, and each other jurisdiction of
the Territory and the country of export, as they may be amended from time to
time, or the requirements of any licenses, authorizations or license exceptions
relating thereto; or

 

(iv)                              the preparation of false documents or the dissemination of false
statements.

 

(c)                                  Distributor agrees to obtain any licenses required for export or
re-export of such Products.

 

14.2                           Products of U.S. Origin-Technical Data. 
Distributor agrees not to transact business with any Person identified
by the U.S. Departments of Commerce or Treasury as being denied the right to
receive any U.S. products unless Distributor is expressly licensed or otherwise
authorized by such government agencies to do so.

 

15.                               Limitation of Liability and Remedies; Indemnity.

 

15.1                           Liability for Termination.  The
Parties confirm that they have considered all costs and expenses necessary in
preparing to perform this Agreement and the possible losses and damage incident
to termination.  Except as otherwise set
forth elsewhere in this Agreement, neither Party will be liable to the other,
by reason of the termination of this Agreement, (a) for incidental,
consequential, punitive, or special damages; (b) for indemnity or
compensation in any form, except for Products ordered and delivered;
(c) for reimbursement or damages due to the loss of prospective profits or
anticipated sales; or (d) due to expenditures, investment, leases or
commitments in connection with its business or goodwill.  In addition, it is hereby expressly agreed
between the Parties that Distributor shall not be entitled to receive any
payment from Corgenix by way of compensation for loss of distributorship or
otherwise upon the termination of the Appointment or the Agreement in
accordance with its terms.

 

15.2                           Limitation of Liability; Sole Remedy. 
CORGENIX SHALL NOT BE LIABLE FOR DAMAGES CAUSED BY DELAY IN PERFORMANCE.
THE REMEDIES OF DISTRIBUTOR SET FORTH IN THIS AGREEMENT ARE EXCLUSIVE.  EXCEPT AS OTHERWISE PROVIDED IN ARTICLE 8, IN
NO EVENT, REGARDLESS OF THE FORM OF THE CLAIM OR CAUSE OF ACTION (WHETHER
BASED IN CONTRACT, INFRINGEMENT, NEGLIGENCE, STRICT LIABILITY, OTHER TORT
OR OTHERWISE), DISPUTE OR CONTROVERSY SHALL CORGENIX’S LIABILITY TO DISTRIBUTOR
AND/OR ITS CUSTOMERS EXCEED THE PRICE PAID BY DISTRIBUTOR FOR THE 

 

18

 

SPECIFIC PRODUCTS
PROVIDED BY CORGENIX GIVING RISE TO THE CLAIM OR CAUSE OF ACTION, DISPUTE OR
CONTROVERSY.  DISTRIBUTOR AGREES THAT IN
NO EVENT SHALL CORGENIX’S LIABILITY TO DISTRIBUTOR AND/OR ITS CUSTOMERS EXTEND
TO INCLUDE INCIDENTAL, CONSEQUENTIAL, INDIRECT OR PUNITIVE DAMAGES.  The term “consequential damages” shall
include, but not be limited to, loss of anticipated profits, economic loss,
business interruption, loss of use, revenue, reputation and data, and costs
incurred.

 

15.3                           Indemnity.  Except as
otherwise provided in Section 15.1 above, Distributor agrees to
indemnify and hold harmless Corgenix as to and against any and all demands,
claims, actions or causes of action, losses, damages, liabilities, costs and
expenses, including, without limitation, judgments, interest, penalties,
settlement amounts, court costs and attorneys’ fees and expenses, asserted
against, imposed upon or incurred by Corgenix arising out of or relating to
Distributor’s violation of U.S. export law and regulations.

 

16.                               Representations and Warranties.

 

16.1                           Power and Authority.  Each Party
represents and warrants to the other that it has the right, power and authority
to enter into and perform this Agreement, that the execution and performance of
this Agreement by such Party has been duly authorized by all necessary
corporate and other action, and that this Agreement constitutes the legal,
valid and binding agreement of such Party and is enforceable against such Party
in accordance with its terms.

 

16.2                           No Conflict.  Each Party
represents and warrants to the other that the terms of this Agreement do not
violate any existing contract or agreement to which it is a Party or by which
it is bound.

 

16.3                           Corgenix Product Warranty. 
Corgenix represents and warrants that (a) the Products will be free
from defects in material and workmanship when stored, handled and used in a
manner consistent with all instructions, warnings and other information
included by Corgenix in, on or with the Products or which is otherwise
furnished by Corgenix to Distributor; (b) the Products will conform to the
Product specifications to be delivered by Corgenix to Distributor within
five (5) calendar days of the Effective Date; (c) Corgenix is
the sole owner of the Trademarks and Patents and has the right to grant to
Distributor the licenses to such intellectual property and the right to
Distribute the Products as set forth in this Agreement; (d) Corgenix has
not knowingly granted to any other licensee rights or licenses to its
intellectual property that would restrict Distributor’s rights under this
Agreement; and (e) there is no actual or threatened claim or lawsuit by
any Person based on an alleged violation of such rights by Corgenix.  Except as set forth in Section 16.4,
THE FOREGOING WARRANTIES FOR PRODUCTS ARE IN LIEU OF ALL CONDITIONS OR
WARRANTIES EXPRESS, IMPLIED OR STATUTORY, INCLUDING, WITHOUT
LIMITATION, ANY IMPLIED CONDITIONS OR WARRANTIES OF MERCHANTABILITY AND FITNESS
FOR A PARTICULAR PURPOSE AND OF ANY OTHER CONDITION OR WARRANTY OBLIGATION ON
THE PART OF CORGENIX OR ITS LICENSORS, ANY AND ALL OF WHICH ARE HEREBY
EXPRESSLY DISCLAIMED.

 

19

 

16.4                           Regulatory Approval Specifications.  Once
the Products are approved or cleared by the U.S. Food and Drug Administration (“FDA”)
or any similar authority of a country in the Territory (“Territorial
Authority”), Corgenix agrees and warrants that the Products will meet any
and all standards and specifications that the Products are required to meet
under applicable regulations for such Products promulgated by the FDA or such
other Territorial Authority.

 

16.5                           Limitations on Warranty; Sole Remedy. 
Distributor understands and acknowledges that Corgenix, by this
Agreement, makes no representation as to the operability or fitness for any
use, safety, efficacy, and ability to obtain regulatory approval, patentability
and/or breadth of the Products. 
Distributor’s sole remedy and Corgenix’s liability, whether with respect
to this warranty or otherwise, are limited as set forth in Articles 8
and 15.

 

16.6                           Quality Control Reports.  Corgenix
agrees to provide Distributor copies of the quality control reports of Corgenix
concerning the Products, upon request.

 

16.7                           End-User Warranty.  Any
warranty (and warranty service) to third parties, including, without
limitation, end-users, will be the responsibility of Distributor.  Neither Corgenix nor Corgenix’s licensors
will assume or become bound to perform any warranty, support obligations or
other contractual obligation of Distributor to any customers of Distributor.

 

16.8                           Insurance.

 

(a)                                  Corgenix agrees to purchase and maintain in effect at all times such
general liability, product liability, and other insurance of such types and in
such amounts as may be carried by other reasonable and prudent manufacturers of
products similar to the Products. 
Corgenix will furnish evidence of such insurance to Distributor upon the
execution of this Agreement, at each insurance renewal date, and at such other
times as Distributor may reasonably request. 
Corgenix will name Distributor as an additional insured (or loss payee)
as applicable in each such policy, to the extent available and permitted by applicable
laws and regulations in the Territory.

 

(b)                                 Distributor agrees to use its best efforts to maintain general liability
insurance in commercially reasonable amounts, terms and limits.  Where appropriate, Corgenix will be named as
an additional insured (or loss payee) as applicable.

 

(c)                                  All insurance policies required to be maintained under this Agreement
will include an endorsement waiving the insurer’s right of subrogation against
the other Party and its Affiliates.

 

17.                               Business Standards.

 

17.1                           Conflicts of Interest.  In order
to avoid a conflict of interest between Distributor and Corgenix or an adverse
effect on Corgenix, Distributor represents and warrants that, prior to the
execution of this Agreement, it has disclosed to Corgenix all information with
respect to Distributor’s prior business and other activities that may
reasonably support a belief that Distributor’s appointment under this Agreement
may result in a conflict of interest or may adversely affect the sale of
Products.  Distributor will disclose to
Corgenix or its Affiliates any future circumstances that could create possible
conflicts of interest or adversely affect the sale of

 

20

 

Products as soon as
Distributor knows or becomes aware of them. 
Without limiting the generality of the foregoing, Distributor will
inform Corgenix or its Affiliates of any business relationship, circumstance or
situation that could prejudice in any way the conduct of Corgenix marketing
activities according to the highest ethical and business standards or place
Distributor or Corgenix in any kind of disreputable or embarrassing situation.

 

17.2                           Compliance with Laws.

 

(a)                                  Distributor will use its best efforts to obtain any and all required U.S.
and non-U.S. governmental authorizations, certifications, and approvals,
including without limitation any import licenses and foreign exchange permits,
and if applicable, will be responsible for filing or registering this Agreement
with appropriate governmental authorities. Corgenix will use its best efforts
to provide Distributor with such information and assistance as may be
reasonably required for Distributor to apply for and secure such
authorizations, certifications, and approvals. Corgenix will not be liable if
any authorization is delayed, denied, revoked, restricted or not renewed.

 

(b)                                 Distributor agrees that it shall not engage in any activity that would
expose Corgenix or any of its affiliates to a risk of penalties under laws and
regulations of any relevant jurisdiction prohibiting improper payments,
including but not limited to bribes, to officials of any government of any
agency, instrumentality or political subdivision thereof, to political parties
or political party officials or candidates for public office, or to any
employee of any customer or supplier.

 

(c)                                  Distributor represents and warrants that neither it nor any Related
Person is now acting or during the term hereof will act in an official capacity
for or on behalf of, or is now or during the term hereof will become an officer
or employee of, any public international organization or government or of any
department, agency, instrumentality or political subdivision thereof, or an
official of any political party or a candidate for political office.

 

(d)                                 Distributor agrees that, in connection with its performance under this
Agreement, all other applicable existing and future laws, rules, and
regulations of the Territory and of any other relevant jurisdictions will apply
including without limitation all applicable US rules and regulations
governing the export and re-export of all goods, software and technology that
are shipped or transferred pursuant to this Agreement.  In the event of a conflict between any laws
or regulations applicable to Distributor that cannot be resolved without
exposing one of the parties to a risk of penalties thereunder, the party so
exposed shall have the right to terminate this Agreement immediately.

 

(e)                                  Each of Distributor and Corgenix agrees to comply, and to cause its
employees, officers, agents, representatives and dealers to comply, with all
applicable laws and regulations of or applicable in the Territory and relating
to any of the Products and/or Corgenix intellectual property, or the sale,
purchase, storage, handling, import, export, use or Distribution of any of the
Products, or any other activities contemplated by this Agreement to be done by
it.

 

17.3                           Ethical Standards. 
Distributor acknowledges that Corgenix is subject to the provisions of
the United States Foreign Corrupt Practices Act of 1977 (the “FCPA”),
and that 

 

21

 

Distributor is familiar
with Corgenix’s policy to strictly comply with the FCPA and all European or
other legislation regarding corruption, including the Criminal Law Convention
on Corruption (Council of Europe), the Inter-American Convention Against
Corruption, and the Organization for Economic Co-Operation and Development
Convention on Combating Bribery of Foreign Officials in International
Business.  Distributor hereby agrees to
meet and comply with the FCPA and all other applicable laws and regulations in
all respects and to require its employees, agents, advisors, affiliates,
associates, vendors and contractors to do the same.  Distributor specifically understands and
agrees that Distributor will not make an offer, payment, promise to pay, or
authorization of the payment of any money, or offer, gift, promise to give, or
authorization of the giving of anything of value, to any official, any
political party or official thereof or any candidate for political office, or
any other person, that is contrary to the prohibitions set forth in the FCPA
and all other applicable laws and regulations. 
If Distributor is found to have made any improper payment or otherwise
violated the provisions of this Section 17.3, then in addition to
other rights and remedies available to Corgenix under this Agreement and
applicable law, Corgenix will have the right to recover from Distributor or
withhold from payment due to Distributor under this Agreement or any other
agreement between Corgenix and Distributor or its Affiliates (a) the
amount or value of the improper payment; and (b) any fines, expenses or
attorneys’ fees incurred in connection with the improper payment or violation
of this Section 17.3.

 

18.                               Force Majeure.

 

18.1                           If either party is affected by force majeure
(as defined in Section 18.3) it shall forthwith notify the other
party of the nature and extent thereof.

 

18.2                           Other than as provided in Article 9,
neither of the Parties shall incur any liability to the other in the event that
it is delayed in the performance of its obligations hereunder (other than with
respect to timely payment of all amounts due, which shall not be excused for
any reason) solely by force majeure.

 

18.3                           For the purpose of this Agreement force
majeure shall mean any cause of delay beyond the reasonable control of the
party liable to perform unless conclusive evidence to the contrary is provided
and shall include but not by way of limitation shortage of or an inability of
Corgenix or Corgenix’s suppliers to obtain raw materials, production equipment,
machinery, sub-assemblies, parts or components, strikes, lockouts, riots, act
of war or piracy, acts of terrorism, destruction of essential equipment by
fire, explosion, storm, flood, earthquake or delay caused by failure of power
supplies or transport facilities, or expropriation, requisition, confiscation
and interference by, and restrictions and onerous regulation imposed by civil
or military authorities.

 

19.                               General Provisions.

 

19.1                           Arm’s Length Relationship of Parties.  The
relationship between Corgenix and Distributor under this Agreement is that of
seller and buyer with the right to resell.  Distributor is not entitled to receive
commissions from Corgenix, but is authorized to resell Products in its own
name.  Distributor is an INDEPENDENT
CONTRACTOR and is in no way Corgenix’s legal representative or agent.
Distributor, its subdistributors, resellers, agents, employees and dealers, 

 

22

 

under no circumstances
will be deemed to be agents or representatives of Corgenix, nor will
Distributor, its subdistributors, resellers, agents, employees and dealers,
have the right to enter into any contracts or commitments in the name of
Corgenix or otherwise to bind or commit Corgenix.  Distributor has no authority to assume or
create any obligation on Corgenix’s behalf, express or implied, with respect to
Products or otherwise.

 

19.2                           Governing Language.  This
Agreement is in the English language only, which will be controlling in all
respects.  No translation, if any, of
this Agreement into any other language will be of any force or effect in the
interpretation of this Agreement or in a determination of the intent of either
Party.

 

19.3                           Severability.  If any
provision of this Agreement will be declared void, invalid or illegal, the
validity or legality of any other provisions and of the entire Agreement will not
be affected thereby.  However, the
Parties agree that if any such provision will be declared void, invalid or
illegal, the Parties will, in good faith, negotiate mutually acceptable
substitute provisions.

 

19.4                           Notices.  Any
notice, request, consent or other communication required or permitted under
this Agreement will be in writing and will be deemed to have been duly given
when received if personally delivered; within five (5) calendar days after
being sent by registered or certified mail, return receipt requested, postage
prepaid, to the Parties (and to the Persons to whom copies must be sent as
provided herein); or when a confirmation of proper transmission has been
printed if sent by fax (but only if followed up by prompt confirmation by
personal delivery or mail in accordance with the foregoing clauses), at the
respective addresses of the Parties set forth below:

 

	
  If to Corgenix:

  	
   

  	
  If to Distributor:

  
	
  Corgenix Medical Corporation

  	
   

  	
  Elitech
  UK Limited

  
	
  Attention: President

  	
   

  	
  Attention:
  Tim Watson, Managing Director

  
	
  11575 Main Street, Suite 400

  	
   

  	
  Unit
  6, River Park Industrial Estate

  
	
  Broomfield, Colorado 80020

  	
   

  	
  Billet
  Lane

  
	
  United States of America

  	
   

  	
  Berkhamsted
  HP4 1HL

  
	
  Facsimile: (303) 453-8896

  	
   

  	
  England

  
	
  Email: dsimpson@corgenix.com

  	
   

  	
  Facsimile:
  +44 144 287 6774

  
	
   

  	
   

  	
  Email:
  tim@elitechuk.com

  
	
   

  	
   

  	
   

  
	
  With copy to:

  	
   

  	
  With copy to:

  
	
  Husch Blackwell Sanders LLP

  	
   

  	
  Jackson Walker L.L.P.

  
	
  Attention: Robert P. Attai

  	
   

  	
  Attention: L. Scott Brown

  
	
  1700 Lincoln Street, Suite #4700

  	
   

  	
  901 Main Street, Suite 6000

  
	
  Denver, Colorado 80203

  	
   

  	
  Dallas, Texas 75202

  
	
  United States of America

  	
   

  	
  United States of America

  
	
  Facsimile: (303) 749-7272

  	
   

  	
  Facsimile: (214) 661-6869

  
	
  Email: robert.attai@huschblackwell.com

  	
   

  	
  Email: sbrown@jw.com

  

 

19.5                           Assignability.  This
Agreement will not be assigned or transferred by Distributor without the prior
written consent of Corgenix.  Any
attempted assignment or transfer by 

 

23

 

Distributor, without such
prior written consent, of any of Distributor’s rights, duties or obligations
under this Agreement will be void and of no effect.  If consent is given, this Agreement will be
binding upon and inure to the benefit of the assigns.  Corgenix reserves the right to assign this
Agreement to an Affiliate of Corgenix upon written notice to Distributor.

 

19.6                           Governing Law and Forum for Disputes.

 

(a)                                  The rights and obligations of the Parties under this Agreement will be
interpreted solely in accordance with the internal law of the State of
Colorado, and the provisions of the 1980 United Nations Convention on Contracts
for the International Sale of Goods will expressly be excluded and not
apply.  The place of the making and
execution of this Agreement is Denver, Colorado, United States of America and
Berkhamsted, England.  Distributor hereby
waives any rights that it might otherwise have to assert any rights or defenses
under the law of the United Kingdom or any other jurisdiction in the Territory
or to require that litigation brought by or against it in connection with this
Agreement be conducted in the courts or other forums of the Territory.

 

(b)                                 Any dispute arising in connection with the construction, operation or
enforcement of the provisions of this Agreement or the application or validity
of it will be resolved by arbitration under the Rules of Conciliation and
Arbitration of the International Chamber of Commerce.  The arbitration will be held in Salt Lake
City, Utah, United States of America, before a sole arbitrator, and the
proceedings will be conducted in the English language.  Any award rendered in any such arbitration
proceeding will be final and binding on each of the Parties, and judgment may
be entered thereon in a court of competent jurisdiction.

 

19.7                           No Waiver.  Any
failure of either Party to enforce at any time, or for any period of time, any
provision of this Agreement, will not constitute a waiver of such provision or
in any way affect the validity of this Agreement.

 

19.8                           Complete Agreement.  This
Agreement, together with the Exhibits listed in Section 19.9 below
and the Confidentiality Agreement, sets forth the entire agreement between the
Parties with respect to the subject matter hereof and thereof and supersedes
all previous communications, representations or agreements, whether oral or
written, with respect to the subject matter hereof and thereof.  No addition to or modification of this
Agreement will be binding upon either Party unless reduced to writing and duly
executed by the Parties in the same manner as the execution of this Agreement;
subject, however, to revisions of Exhibits A, C, D
and E, which Corgenix may revise at any time under Section 19.9(b) below.

 

19.9                           Exhibits.

 

(a)                                  The following are presently attached to this Agreement and incorporated
herein by this reference:

 

24

 

	
  ·

  	
  Exhibit A

  	
  Corgenix
  Products List

  
	
  ·

  	
  Exhibit B

  	
  Corgenix
  Excluded Products and OEM Agreements

  
	
  ·

  	
  Exhibit C

  	
  Form of
  Purchase Order

  
	
  ·

  	
  Exhibit D

  	
  Corgenix
  Trademarks

  
	
  ·

  	
  Exhibit E

  	
  Corgenix
  Patents

  
	
  ·

  	
  Exhibit F

  	
  Form of
  Escrow Agreement

  
	
   

  	
   

  	
   

  

(b)                                 Corgenix has the right, in its sole discretion, to unilaterally amend in
writing Exhibits A, C, D, and E.

 

[Remainder
of page intentionally left blank. 
Signature page follows.]

 

25

 

IN
WITNESS WHEREOF, the duly authorized officers of the respective Parties have
executed and delivered this Agreement as of the Effective Date.

 

	
   

  	
  CORGENIX
  MEDICAL CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Name:
  Douglass T. Simpson

  
	
   

  	
  Title:
  President and Chief Executive Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  ELITECH
  UK LIMITED

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Name:
  Tim Watson

  
	
   

  	
  Title:
  Managing Director

  

 

26

 

EXHIBIT A

 

CORGENIX PRODUCT LIST

 

[See
attached.]

 

A-1

 

Master Distribution Agreement

EXHIBIT A

Corgenix Products List

 

	
  item number

  	
   

  	
  product

  	
   

  	
  incubation

  	
   

  	
  size

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Anti-Cardiolipin (aCL) antibodies
  IgG, IgM & IgA

  
	
  023-001

  	
   

  	
  Anti-Cardiolipin IgG/IgM

  	
   

  	
  15/15/10

  	
   

  	
  96 wells

  
	
  023-002

  	
   

  	
  Anti-Cardiolipin IgG/IgM

  	
   

  	
  15/15/10

  	
   

  	
  288 wells

  
	
  026-001

  	
   

  	
  Anti-Cardiolipin lgA

  	
   

  	
  15/15/10

  	
   

  	
  96 wells

  
	
  026-006

  	
   

  	
  Anti-Cardiolipin IgA

  	
   

  	
  15/15/10

  	
   

  	
  288 wells

  
	
  11139

  	
   

  	
  Anti-Cardiolipin IgG

  	
   

  	
  30/30/30

  	
   

  	
  96 wells

  
	
  12747

  	
   

  	
  Anti-Cardiolipin IgG

  	
   

  	
  30/30/30

  	
   

  	
  288 wells

  
	
  11140

  	
   

  	
  Anti-Cardiolipin IgM

  	
   

  	
  30/30/30

  	
   

  	
  96 wells

  
	
  12748

  	
   

  	
  Anti-Cardiolipin IgM

  	
   

  	
  30/30/30

  	
   

  	
  288 wells

  
	
  11141

  	
   

  	
  Anti-Cardiolipin IgA

  	
   

  	
  30/30/30

  	
   

  	
  96 wells

  
	
  12770

  	
   

  	
  Anti-Cardiolipin IgA

  	
   

  	
  30/30/30

  	
   

  	
  288 wells

  
	
  Anti-Beta 2 Glycoprotein 1 antibodies
  IgG, IgM & IgA

  
	
  037-001

  	
   

  	
  Anti-Beta 2 Glycoprotein
  I IgG

  	
   

  	
  15/15/10

  	
   

  	
  96 wells

  
	
  038-001

  	
   

  	
  Anti-Beta 2 Glycoprotein I IgM

  	
   

  	
  15/15/10

  	
   

  	
  96 wells

  
	
  039-001

  	
   

  	
  Anti-Beta 2 Glycoprotein I IgA

  	
   

  	
  15/15/10

  	
   

  	
  96 wells

  
	
  11233

  	
   

  	
  Anti-Beta 2 Glycoprotein
  I IgG

  	
   

  	
  30/30/30

  	
   

  	
  96 wells

  
	
  12784

  	
   

  	
  Anti-Beta 2 Glycoprotein
  I IgG

  	
   

  	
  30/30/30

  	
   

  	
  288 wells

  
	
  11234

  	
   

  	
  Anti-Beta 2 Glycoprotein I IgM

  	
   

  	
  30/30/30

  	
   

  	
  96 wells

  
	
  12776

  	
   

  	
  Anti-Beta 2 Glycoprotein I IgM

  	
   

  	
  30/30/30

  	
   

  	
  288 wells

  
	
  11235

  	
   

  	
  Anti-Beta 2 Glycoprotein I IgA

  	
   

  	
  30/30/30

  	
   

  	
  96 wells

  
	
  12787

  	
   

  	
  Anti-Beta 2 Glycoprotein I IgA

  	
   

  	
  30/30/30

  	
   

  	
  288 wells

  
	
  Anti-Phosphatidylserine (aPS) antibodies
  IgG, IgM & IgA

  
	
  030-001

  	
   

  	
  Anti-Phosphatidylserine IgG/IgM

  	
   

  	
  15/15/10

  	
   

  	
  96 wells

  
	
  030-001 OEM

  	
   

  	
  Anti-Phosphatidylserine IgG/IgM

  	
   

  	
  15/15/10

  	
   

  	
  96 wells

  
	
  030-002

  	
   

  	
  Anti-Phosphatidylserine IgG/IgM

  	
   

  	
  15/15/10

  	
   

  	
  288 wells

  
	
  10206

  	
   

  	
  Anti-Phosphatidylserine IgA

  	
   

  	
  15/15/10

  	
   

  	
  96 wells

  
	
  10497

  	
   

  	
  Anti-Phosphatidylserine IgA

  	
   

  	
  15/15/10

  	
   

  	
  288 wells

  
	
  11142

  	
   

  	
  Anti-Phosphatidylserine IgG

  	
   

  	
  30/30/30

  	
   

  	
  96 wells

  
	
  12803

  	
   

  	
  Anti-Phosphatidylserine IgG

  	
   

  	
  30/30/30

  	
   

  	
  288 wells

  
	
  11143

  	
   

  	
  Anti-Phosphatidylserine IgM

  	
   

  	
  30/30/30

  	
   

  	
  96 wells

  
	
  12768

  	
   

  	
  Anti-Phosphatidylserine IgM

  	
   

  	
  30/30/30

  	
   

  	
  288 wells

  
	
  11144

  	
   

  	
  Anti-Phosphatidylserine IgA

  	
   

  	
  30/30/30

  	
   

  	
  96 wells

  
	
  12804

  	
   

  	
  Anti-Phosphatidylserine IgA

  	
   

  	
  30/30/30

  	
   

  	
  288 wells

  
	
  Anti-Prothrombin (aPT) antibodies IgG,
  IgM & IgA

  
	
  10238

  	
   

  	
  Anti-Prothrombin IgG

  	
   

  	
  15/15/10

  	
   

  	
  96 wells

  
	
  10240

  	
   

  	
  Anti-Prothrombin IgM

  	
   

  	
  15/15/10

  	
   

  	
  96 wells

  

 

 

	
  oxLDL-B2GP1

  
	
  11926

  	
   

  	
  AtherOxTM *

  	
   

  	
  15/15/10

  	
   

  	
  96 wells

  
	
  11854

  	
   

  	
  Anti-AtherOxTM IgG

  	
   

  	
  15/15/10

  	
   

  	
  96 wells

  
	
  11855

  	
   

  	
  Anti-AtherOxTM IgM

  	
   

  	
  15/15/10

  	
   

  	
  96 wells

  
	
  AspirinWorks

  
	
  12136

  	
   

  	
  Aspirin Works®

  	
   

  	
   

  	
   

  	
  96 wells

  
	
  Hemostasis
  Products

  
	
  034-001

  	
   

  	
  vonWillebrand Factor Antigen

  	
   

  	
   

  	
   

  	
  96 wells

  
	
  10826

  	
   

  	
  vonWillebrand Factor Activity

  	
   

  	
   

  	
   

  	
  96 wells

  
	
  035-001

  	
   

  	
  Protein C Antigen

  	
   

  	
   

  	
   

  	
  96 wells

  
	
  036-001

  	
   

  	
  Protein S Antigen

  	
   

  	
   

  	
   

  	
  96 wells

  
	
  051-001

  	
   

  	
  Monoclonal Free Protein S Antigen

  	
   

  	
   

  	
   

  	
  96 wells

  
	
  11160

  	
   

  	
  Collagen Binding Assay

  	
   

  	
   

  	
   

  	
  96 wells

  
	
  706-001

  	
   

  	
  Ristocetin (6 x 100 mg)

  	
   

  	
   

  	
   

  	
  6x100mg

  
	
  701-001

  	
   

  	
  Coagulation Control 1

  	
   

  	
   

  	
   

  	
  10x1ml

  
	
  702-001

  	
   

  	
  Coagulation Control 2

  	
   

  	
   

  	
   

  	
  10x1ml

  
	
  Liver/Gastroenterology
  Product

  
	
  029-001

  	
   

  	
  Hyaluronic Acid

  	
   

  	
   

  	
   

  	
  96 wells

  
	
  Autoimmune
  Products

  
	
  10876

  	
   

  	
  ANA

  	
   

  	
   

  	
   

  	
  96 wells

  
	
  10876-OEM

  	
   

  	
  ANA

  	
   

  	
   

  	
   

  	
  96 wells

  
	
  022-001

  	
   

  	
  Anti-dsDNA

  	
   

  	
   

  	
   

  	
  96 wells

  
	
  10870

  	
   

  	
  anti-SS-A (Ro) ELISA

  	
   

  	
   

  	
   

  	
  96 wells

  
	
  10870-OEM

  	
   

  	
  anti-SS-A (Ro) ELISA

  	
   

  	
   

  	
   

  	
  96 wells

  
	
  10871

  	
   

  	
  anti-SS-B (La) ELISA

  	
   

  	
   

  	
   

  	
  96 wells

  
	
  10871-OEM

  	
   

  	
  anti-SS-B (La) ELISA

  	
   

  	
   

  	
   

  	
  96 wells

  
	
  10868

  	
   

  	
  anti-Sm ELISA

  	
   

  	
   

  	
   

  	
  96 wells

  
	
  10869

  	
   

  	
  anti-RNP ELISA

  	
   

  	
   

  	
   

  	
  96 wells

  
	
  10869-OEM

  	
   

  	
  anti-RNP ELISA

  	
   

  	
   

  	
   

  	
  96 wells

  
	
  10872

  	
   

  	
  anti-Anti-Scl-70 ELISA

  	
   

  	
   

  	
   

  	
  96 wells

  
	
  10872-OEM

  	
   

  	
  anti-Anti-Sc1-70 ELISA

  	
   

  	
   

  	
   

  	
  96 wells

  
	
  10873

  	
   

  	
  anti-Jo-1 ELISA

  	
   

  	
   

  	
   

  	
  96 wells

  
	
  10873-OEM

  	
   

  	
  anti-Jo-1 ELISA

  	
   

  	
   

  	
   

  	
  96 wells

  
	
  10877

  	
   

  	
  anti-Mitochondria M2 ELISA

  	
   

  	
   

  	
   

  	
  96 wells

  
	
  10886

  	
   

  	
  anti-MPO (pANCA) ELISA

  	
   

  	
   

  	
   

  	
  96 wells

  
	
  10881

  	
   

  	
  anti-PR3 (cANCA) ELISA

  	
   

  	
   

  	
   

  	
  96 wells

  
	
  10879

  	
   

  	
  anti-Thyroglobulin (Tg) ELISA

  	
   

  	
   

  	
   

  	
  96 wells

  
	
  10880

  	
   

  	
  anti-Thyroid Peroxidase (TPO) ELISA*

  	
   

  	
   

  	
   

  	
  96 wells

  
	
  10878

  	
   

  	
  anti-LKM

  	
   

  	
   

  	
   

  	
  96 wells

  
	
  10878-OEM

  	
   

  	
  anti-LKM

  	
   

  	
   

  	
   

  	
  96 wells

  
	
  10884

  	
   

  	
  anti-Centromere

  	
   

  	
   

  	
   

  	
  96 wells

  

 

 

EXHIBIT B

 

CORGENIX EXCLUDED PRODUCTS AND OEM AGREEMENTS

 

[See
attached.]

 

B-1

 

Master Distribution
Agreement

 

EXHIBIT B

 

CORGENIX EXCLUDED PRODUCTS
AND OEM AGREEMENTS

 

OEM Agreements under contract as of the Effective Date

 

	
  company

  	
   

  	
  contract date

  	
   

  	
  products

  
	
  Bio-Rad Laboratories, Inc.

  	
   

  	
  2000-04-18

  	
   

  	
  aPL

  
	
  Helena Laboratories Corp.

  	
   

  	
  1994-09-12

  	
   

  	
  PS, PC

  
	
  IL Chromogenix

  	
   

  	
  1992-03-19

  	
   

  	
  aPL

  
	
  Grifols, S.A.

  	
   

  	
  2000-12-01

  	
   

  	
  PS, MFPS, PC, vWF

  
	
  abp Corp

  	
   

  	
  1998-12-01

  	
   

  	
  PS, MFPS, PC, vWF

  

 

OEM Agreements in discussion as of the Effective Date

 

	
  company

  	
   

  	
  contract date

  	
   

  	
  products

  
	
  Hemagen
  Diagnostics, Inc.

  	
   

  	
  n/a

  	
   

  	
  aPL

  

 

Excluded Products as of the Effective Date

 

	
  company

  	
   

  	
  country

  	
   

  	
  products

  
	
  Hart Biologicals, Ltd.

  	
   

  	
  UK

  	
   

  	
  Hart labeled coagulation products

  
	
  Axis-Shield plc

  	
   

  	
  UK

  	
   

  	
  Axis-Shield autoimmune products

  
	
  Bioreba AG

  	
   

  	
  Switzerland

  	
   

  	
  Bioreba plant virology products

  
	
  Biofile Diagnostics, Ltd.

  	
   

  	
  Finland

  	
   

  	
  Biofile and Biofons labeled autoimmune products

  

 

 

EXHIBIT C

 

FORM OF PURCHASE ORDER

 

[See
attached.]

 

C-1

 

Purchase Order - ELITECH UK Limited

 

	
  Tax Date

  	
  P.O. No.

  	
  VAT REG NO

  	
   

  
	
  01/07/2010

  	
  PUR 2632

  	
  757854282

  	
   

  

 

	
  Supplier

  	
  Ship To/Bill To

  
	
   

  	
   

  
	
  Corgenix Medical Corporation

  	
  ELITECH UK Limited

  
	
  11575 Main Street, Suite 400

  	
  Unit 6, River Park Industrial Estate

  
	
  Broomfield

  	
  Billet Lane

  
	
  Colorado 80020

  	
  Berkhamsted

  
	
  U.S.A

  	
  Herts HP4 1HL

  

 

	
   

  	
  Terms

  	
   

  	
  Ship Via

  	
   

  
	
   

  	
  Net
  60

  	
   

  	
  TBA

  	
   

  

 

	
  Item

  	
   

  	
  UOM

  	
   

  	
  Description

  	
   

  	
  Qty

  	
   

  	
  Rate

  	
   

  	
  VAT

  	
   

  	
  Amount

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  SUBTOTAL

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  VAT TOTAL

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Total

  	
   

  	
   

  	
   

  

 

 

 

EXHIBIT D

 

CORGENIX TRADEMARKS

 

[See
attached.]

 

D-1

 

Master Distribution
Agreement

 

EXHIBIT D

 

CORGENIX US TRADEMARKS

 

REAADS

Corgenix

AtherOx

Aspirin Works

 

 

EXHIBIT E

 

CORGENIX PATENTS

 

[See attached.]

 

E-1

 

Master Distribution
Agreement

 

EXHIBIT E

 

CORGENIX PATENTS AND PATENTS
PENDING

 

AtherOx Technology

 

The Company has licensed the AtherOx technology from Eiji
Matsuura, PhD, a researcher at Okayama University, Okayama, Japan. This is
an exclusive license agreement (worldwide except Japan).

 

US Patent # 5,900,359, effective May 4,  1999;
Title: Method for Determination of Oxidized
Lipoproteins and Use Thereof. This patent covers the
OxiLDL/B2GPI antigen and its use. The patent was not applied for in the EU.

 

US Patent # 7,160,733 effective January 9, 2007;
Title: Ligand specific to B2GPI and use of
the Ligand. This patent application covers the synthesis
of the OxLig-1 molecule, the use of the OxLig-1 Ligand for B2GPI, and the
method. This is considered the “key patent” to the technology. This patent will
be not be submitted to the EU.

 

US Patent # 7,422,864 effective
September 9, 2008; Title: Method
for Measuring Oxidized LDL-CRP Complex and Measurement Kit This patent
describes the binding of oxidized low-density lipoprotein (oxLDL) with
C-reactive protein (CRP) resulting in oxLDL/CRP (CRP-AtherOx) complex
formation, and the immunoassay method for measuring these complexes in blood.

 

US Patent # 7,455,976 effective November 25,
2008; Title: Method of Assaying Oxidized
LDL/B2-Glycoprotein I Complex Occurring in the Living Body. This patent
describes the binding of oxidized low-density lipoprotein (oxLDL) to B2-GPI in
the living body, measuring the complex more accurately.

 

EU  Patent # 1 548
436 B1 effective November 11, 2008; Title: Method of measuring Oxidized LDL-B2glycoprotein I complex in vivo. This
is a method patent covering the components and the assay procedure.

 

EU Patent # EP 1 596 198 B effective April 7,
2010; Title: Method of measuring oxidized
LDL-Beta 2-GP1-CRP Complex. This patent is a method
patent providing protection to the components and assay procedure used to
measure AtherOx complexes in biological samples.

 

PCT/JP2007/060887; Title: Serum amyloid protein (SAP) and related analytes or antibodies.. Underlying
Japanese patent # 149,430/2006. This patent application covers inflammatory and
infectious molecules (SAP) in atherosclerosis. Under license from Okayama
Prefecture and University of Okayama (Dr. Matsuura) dated 2/18/2008.
Patents pending.

 

AspirinWorks Technology

 

Collaboration with McMaster University

 

Corgenix has a license agreement with McMaster University providing
Corgenix exclusive rights to aspirin resistance technology owned by McMaster.

 

US Patent # 7,081,347,
effective July 25, 2006, expiring September 24, 2023; Title: Method for Predicting Cardiovascular Event.

 

US Patent # 7,595,201
B2, effective September 29, 2009; Title: Device
for measuring an analyte;  this is a method patent for
measuring the biomarker in a fluid sample.

 

 

EU Patent # 1,488,232, issued 11/14/2007; Title: Method and Device for Predicting Cardiovascular
Events. This is a method
patent covering clinical use of the marker.

 

Title: Method and Device for Predicting Cardiovascular
Events;  Canadian Application PCT/CA03/000422 filed September 8, 2004.

 

Collaboration with Cayman Chemical

 

Corgenix has an agreement with Cayman Chemical Company regarding
certain technology and critical materials for aspirin resistance technology.

 

US Patent # 7,727,730 B2, effective June 1, 2010:
Methods and kits for detection of
thromboxane A2 metabolites. This patent recognizes the
ability of AspirinWorks test to accurately measure biomarkers of platelet
inhibition.

 

 

EXHIBIT F

 

FORM OF ESCROW AGREEMENT

 

[See
attached.]

 

F-1

 

 

Three-Party
Escrow Service Agreement

 

Iron Mountain provides flexible, comprehensive escrow services that
generate the type of agreement that gives our customers the right level of
protection in each unique situation. Iron Mountain is different from other
providers in the industry because of our customer-driven approach to technology
escrow. With Iron Mountain, the customer’s experience is focused on defining
his or her own unique needs for a comprehensive service—not on studying and
struggling to comprehend the terms, options and add-ons of a variety of pre-packaged
agreements.

 

The benefit of this approach is that it can adapt to meet the needs of
a single customer or application today, as well as future ones with
requirements that may be quite different. With Iron Mountain, one set of
comprehensive escrow services with elective components suited for every
situation, covers all the key issues for technology escrow.

 

At Iron Mountain, we take intellectual property protection seriously
and deliver our services with the integrity you and your clients would expect –
and, in fact, demand, from a trusted and neutral third party. We don’t just
vault technology. We provide complete intellectual property management
services.

 

Purpose

 

Iron Mountain’s Three-Party Escrow Service Agreement
is generally used when:

 

·      Both parties agree that the
highest level of escrow protection is needed.

·      The beneficiary needs to
sign the agreement.

·      The beneficiary needs to
negotiate the terms of the agreement and the unique release conditions.

·      The beneficiary wants
technical verification of the deposit materials.

 

Key Features

 

Iron Mountain’s Three-Party Escrow Service Agreements
may include any of the following:

 

·      Secure real-time online
account management with Escrow Management Center 24x7x365.

·      When elected, verification
of deposit materials. This includes documentation of the hardware, software
environment, utilities, compilers and operating systems needed to access the
deposit materials.

·      Electronic Depositing of
materials.

·      Additional advanced types of
technical verification including build and usability testing.

·      Deposit Tracking
Notification – periodic notices to depositors and beneficiaries related to
deposit material.

·      Escrow Expert consulting
services.

 

(PLEASE
DELETE THIS COVER PAGE BEFORE EXECUTING THE AGREEMENT)

 

This
template will be accepted until December 31, 2009, after that date,

Iron Mountain reserves the option to update terms and conditions.

 

	
  3P Rev. 07/01/09

  	
  ©2009
  Iron Mountain Incorporated

  	
   

  

 

 

 

	
   

  	
  EFFECTIVE DATE:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  DEPOSIT ACCOUNT NUMBER:

  	
   

  
					

 

THREE-PARTY
ESCROW SERVICE AGREEMENT

 

1.     Introduction.

 

This
Three Party Escrow Service Agreement (the “Agreement”)
is entered into by and between                                         
(the “Depositor”), and by
                          (the
“Beneficiary”) and by Iron
Mountain Intellectual Property Management, Inc. (“Iron Mountain”). Depositor, Beneficiary,
and Iron Mountain may be referred to individually as a “Party” or collectively
as the “Parties” throughout this Agreement.

 

(a)   The
use of the term services in this Agreement shall refer to Iron Mountain
services that facilitate the creation, management, and enforcement of software
or other technology escrow accounts as described in Exhibit A attached
hereto (“Services”). A Party shall
request Services under this Agreement by submitting a work request for certain
Iron Mountain Services (“Work Request”)
via written instruction or the online portal maintained at the website located
at www.ironmountainconnect.com, or
other websites owned or controlled by Iron Mountain that are linked to that
website (collectively the “Iron Mountain
Website”).

 

(b)   The
Beneficiary and Depositor have, or will have, entered into a license agreement
or other agreement (“License Agreement”) conveying intellectual property rights
to the Beneficiary, and the Parties intend this Agreement to be considered as
supplementary to such agreement, pursuant to Title 11 United States
[Bankruptcy] Code, Section 365(n).

 

2.     Depositor Responsibilities and Representations.

 

(a)   Depositor
shall make an initial deposit that is complete and functional of all
proprietary technology and other materials covered under this Agreement (“Deposit Material”) to Iron Mountain within
thirty (30) days of the Effective Date. Depositor may also update Deposit Material
from time to time during the Term (as defined below) of this Agreement provided
a minimum of one (1) complete and functional copy of Deposit Material is
deposited with Iron Mountain at all times. At the time of each deposit or
update, Depositor will provide an accurate and complete description of all
Deposit Material sent to Iron Mountain using the form attached hereto as
Exhibit B.

 

(b)   Depositor
represents that it lawfully possesses all Deposit Material provided to Iron
Mountain under this Agreement and that any current or future Deposit Material
liens or encumbrances will not prohibit, limit, or alter the rights and
obligations of Iron Mountain under this Agreement. Depositor warrants that with
respect to the Deposit Material, Iron Mountain’s proper administration of
this Agreement will not violate the rights of any third parties.

 

(c)   Depositor
represents that all Deposit Material is readable and useable in its then
current form; if any portion of such Deposit Material is encrypted, the
necessary decryption tools and keys to read such material are deposited
contemporaneously.

 

(d)   Depositor
agrees, upon request by Iron Mountain, in support of Beneficiary’s request for
verification Services, to promptly complete and return the Escrow Deposit
Questionnaire attached hereto as Exhibit Q. Depositor consents to Iron
Mountain’s performance of any level(s) of verification Services described
in Exhibit A attached hereto and Depositor further consents to Iron
Mountain’s use of a subcontractor to perform verification Services. Any such
subcontractor shall be bound by the same confidentiality obligations as Iron
Mountain and shall not be a direct competitor to either Depositor or
Beneficiary. Iron Mountain shall be responsible for the delivery of Services of
any such subcontractor as if Iron Mountain had performed the Services.
Depositor represents that all Deposit Material is provided with all rights
necessary for Iron Mountain to verify such proprietary technology and materials
upon receipt of a Work Request for such Services or agrees to use commercially
reasonable efforts to provide Iron Mountain with any necessary use rights or
permissions to use materials necessary to perform verification of the Deposit
Material. Depositor agrees to reasonably cooperate with Iron Mountain by
providing reasonable access to its technical personnel for verification
Services whenever reasonably necessary.

 

3.     Beneficiary Responsibilities and Representations.

 

(a)   Beneficiary
acknowledges that, as between Iron Mountain and Beneficiary, Iron Mountain’s
obligation is to maintain the Deposit Material as delivered by the Depositor
and that, other than Iron Mountain’s inspection of the Deposit Material (as
described in Section 4) and the performance of any of the optional
verification Services listed in Exhibit A, Iron Mountain has no other
obligation regarding the completeness, accuracy, or functionality of the
Deposit Material.

 

(b)   Beneficiary
may submit a verification Work Request to Iron Mountain for one or more of the
Services defined in Exhibit A attached hereto and consents to Iron
Mountain’s use of a subcontractor if needed to provide such Services.
Beneficiary

 

2

 

warrants that Iron Mountain’s
use of any materials supplied by Beneficiary to perform the verification
Services described in Exhibit A is lawful and does not violate the rights
of any third parties.

 

4.     Iron Mountain Responsibilities and Representations.

 

(a)   Iron Mountain agrees to use
commercially reasonable efforts to provide the Services requested by Authorized
Person(s) (as identified in the “Authorized Person(s)/Notices Table”
below) representing the Depositor or Beneficiary in a Work Request. Iron
Mountain may reject a Work Request (in whole or in part) that does not contain
all required information at any time upon notification to the Party originating
the Work Request.

 

(b)   Iron Mountain will conduct a
visual inspection upon receipt of any Deposit Material and associated
Exhibit B. If Iron Mountain determines that the Deposit Material does not
match the description provided by Depositor represented in
Exhibit B, Iron Mountain will notify Depositor of such discrepancies
and notate such discrepancy on the Exhibit B.

 

(c)   Iron Mountain will provide
notice to the Beneficiary of all Deposit Material that is accepted and
deposited into the escrow account under this Agreement.

 

(d)   Iron Mountain will work with
a Party who submits any verification Work Request for Deposit Material covered
under this Agreement to either fulfill any standard verification Services Work
Request or develop a custom Statement of Work (“SOW”).
Iron Mountain and the requesting Party will mutually agree in writing to an SOW
on terms and conditions that include but are not limited to: description of Deposit
Material to be tested; description of verification testing; requesting Party
responsibilities; Iron Mountain responsibilities; Service Fees; invoice payment
instructions; designation of the paying Party; designation of authorized SOW
representatives for both the requesting Party and Iron Mountain with name and
contact information; and description of any final deliverables prior to the
start of any fulfillment activity. After the start of fulfillment activity,
each SOW may only be amended or modified in writing with the mutual agreement
of both Parties, in accordance with the change control procedures set forth
therein. If the verification Services extend beyond those described in
Exhibit A, the Depositor shall be a necessary Party to the SOW governing the
Services.

 

(e)   Iron Mountain will hold and
protect Deposit Material in physical or electronic vaults that are either owned
or under the control of Iron Mountain, unless otherwise agreed to by all the
Parties.

 

(f)    Upon receipt of written
instructions by both Depositor and Beneficiary, Iron Mountain will permit
the replacement or removal of previously submitted Deposit Material. The Party
making such request shall be responsible for getting the other Party to approve
the joint instructions.

 

(g)   Should transport of Deposit
Material be necessary in order for Iron Mountain to perform Services requested
by Depositor or Beneficiary under this Agreement, Iron Mountain will use a
commercially recognized overnight carrier such as Federal Express or United
Parcel Service. Iron Mountain will not be responsible for any loss or
destruction of, or damage to, such Deposit Material while in the custody of the
common carrier.

 

5.     Payment.

 

The Party responsible for
payment designated in Exhibit A (“Paying Party”)  shall pay  to
Iron Mountain all fees as set
forth in the Work Request (“Service Fees”).
Except as set forth below, all Service Fees  are due within thirty (30)
calendar days from the date of invoice in U.S. currency and are non-refundable.
Iron Mountain may update Service Fees with a ninety (90) calendar day written
notice to the Paying Party during the Term of this Agreement (as defined
below). The Paying Party is liable for any taxes (other than Iron Mountain
income taxes) related specifically to Services purchased under this Agreement
or shall present to Iron Mountain an exemption certificate acceptable to the
taxing authorities. Applicable taxes shall be billed as a separate item on the
invoice. Any Service Fees not collected by Iron Mountain when due shall bear interest
until paid at a rate of one percent (1%) per month (12% per annum) or the
maximum rate permitted by law, whichever is less. Notwithstanding the
non-performance of any obligations of Depositor to deliver Deposit Material
under the License Agreement or this Agreement, Iron Mountain is entitled
to be paid all Service Fees that accrue during the Term of this Agreement.

 

6.     Term and Termination.

 

(a)   The term of this Agreement
is for a period of one (1) year
from the Effective Date (“Initial Term”)  and will automatically renew for additional one
(1) year terms (“Renewal Term”)  (collectively the “Term”).
This Agreement shall continue in full force and effect until one of the
following events occur: (i) Depositor and Beneficiary provide Iron
Mountain with sixty (60) days’ prior written joint notice of their intent to
terminate this Agreement; (ii) Beneficiary provides Iron Mountain and
Depositor with sixty (60) days’ prior written notice of its intent to terminate
this Agreement; (iii) the Agreement terminates under another provision of
this Agreement; or (iv) any time after the Initial Term, Iron
Mountain provides a sixty (60) days’ prior written notice to the Depositor and
Beneficiary of Iron Mountain’s intent to terminate this Agreement. If the
Effective Date is not specified above, then the last date noted on the
signature blocks of this Agreement shall be the Effective Date.

 

(b)   Unless the express terms of
this Agreement provide otherwise, upon termination of this Agreement, Iron
Mountain shall return the Deposit Material to the Depositor. Unless otherwise
directed by Depositor, Iron Mountain will use a commercially recognized
overnight common carrier such as Federal Express or United Parcel Service to
return the Deposit Material to the Depositor. Iron Mountain will not be
responsible for any loss or destruction of, or damage to, such Deposit Material
while in the custody of the common carrier. If reasonable attempts to return
the Deposit Material to Depositor are unsuccessful, Iron Mountain shall destroy
the Deposit Material.

 

3

 

(c)   In the event of the
nonpayment of undisputed Service Fees owed to Iron Mountain, Iron Mountain
shall provide all Parties to this Agreement with written notice of Iron
Mountain’s intent to terminate this Agreement. Any Party to this Agreement
shall have the right to make the payment to Iron Mountain to cure the default.
If the past due payment is not received in full by Iron Mountain within thirty
(30) calendar days of the date of such written notice, then Iron Mountain shall
have the right to terminate this Agreement at any time thereafter by sending
written notice to all Parties. Iron Mountain shall have no obligation to
perform the Services under this Agreement (except those obligations that
survive termination of this Agreement, which includes the confidentiality
obligations in Section 9) so long as any undisputed Service Fees due Iron
Mountain under this Agreement remain unpaid.

 

7.     Infringement
Indemnification.

 

Anything in this Agreement to the contrary
notwithstanding, Depositor at its own expense shall defend and hold Beneficiary
and Iron Mountain (the “Indemnified Party”) fully harmless against any claim or
action asserted against the Indemnified Party (specifically including costs and
reasonable attorneys’ fees associated with any such claim or action) to the
extent such claim or action is based on an assertion that Iron Mountain’s
proper administration of this Agreement or Beneficiary’s use of the Deposit
Material, within the scope of this Agreement, infringes any patent, copyright,
license or other proprietary right of any third party. When the indemnified
Party has notice of a claim or action, it shall promptly notify Depositor in
writing. At its option, Depositor may elect to control defense of such claim or
action and may elect to enter into a settlement agreement, provided that no
such settlement or defense shall include any admission or implication of
wrongdoing on the part of the Indemnified Party without such Party’s prior
written consent, which consent shall not be unreasonably delayed or withheld.
Iron Mountain shall have the right to employ separate counsel and participate
in the defense of any claim at its own expense.

 

8.     Warranties.

 

(a)   IRON MOUNTAIN WARRANTS ANY
AND ALL SERVICES PROVIDED HEREUNDER SHALL BE PERFORMED IN A WORKMANLIKE MANNER
CONSISTENT WITH THE MEASURES IRON MOUNTAIN TAKES TO PROTECT ITS OWN INFORMATION
OF A SIMILAR NATURE, BUT IN NO CASE LESS THAN A REASONABLE LEVEL OF CARE.
EXCEPT AS SPECIFIED IN THIS SECTION, ALL CONDITIONS, REPRESENTATIONS, AND
WARRANTIES INCLUDING, WITHOUT LIMITATION, ANY IMPLIED WARRANTIES OR CONDITIONS
OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, SATISFACTORY QUALITY, OR
ARISING FROM A COURSE OF DEALING, USAGE, OR TRADE PRACTICE, ARE HEREBY EXCLUDED
TO THE EXTENT ALLOWED BY APPLICABLE LAW. AN AGGRIEVED PARTY MUST NOTIFY IRON
MOUNTAIN PROMPTLY UPON LEARNING OF ANY CLAIMED BREACH OF ANY WARRANTY AND, TO
THE EXTENT ALLOWED BY APPLICABLE LAW, SUCH PARTY’S REMEDY FOR BREACH OF THIS
WARRANTY SHALL BE SUBJECT TO THE LIMITATION OF LIABILITY AND CONSEQUENTIAL
DAMAGES WAIVER IN THIS AGREEMENT. THIS DISCLAIMER AND EXCLUSION SHALL APPLY
EVEN IF THE EXPRESS WARRANTY AND LIMITED REMEDY SET FORTH ABOVE FAILS OF ITS
ESSENTIAL PURPOSE.

 

(b)   Depositor warrants that all
Depositor information provided hereunder is accurate and reliable and
undertakes to promptly correct and update such Depositor information during the
Term of this Agreement.

 

(c)   Beneficiary warrants that
all Beneficiary information provided hereunder is accurate and reliable and
undertakes to promptly correct and update such Beneficiary information during
the Term of this Agreement.

 

9.     Confidential Information.

 

Iron Mountain shall have the obligation to implement
and maintain safeguards designed to protect the confidentiality of the Deposit
Material. Except as provided in this Agreement Iron Mountain shall not use or
disclose the Deposit Material. Iron Mountain shall not disclose the terms of
this Agreement to any third Party. If Iron Mountain receives a subpoena or any
other order from a court or other judicial tribunal pertaining to the
disclosure or release of the Deposit Material, Iron Mountain will promptly
notify the Parties to this Agreement unless prohibited by law. After notifying
the Parties, Iron Mountain may comply in good faith with such order. It
shall be the responsibility of Depositor or Beneficiary to challenge any such
order; provided, however, that Iron Mountain does not waive its rights to present
its position with respect to any such order. Iron Mountain will cooperate with
the Depositor or Beneficiary, as applicable, to support efforts to quash or
limit any subpoena, at such Party’s expense. Any Party requesting additional
assistance shall pay Iron Mountain’s standard charges or as quoted upon
submission of a detailed request.

 

10.  Limitation
of Liability.

 

EXCEPT FOR: (I) ANY CLAIMS OF INFRINGEMENT OF
ANY PATENT, COPYRIGHT, OR TRADEMARK; (II) LIABILITY FOR DEATH OR BODILY INJURY;
(III) PROVEN GROSS NEGLIGENCE OR WILLFUL MISCONDUCT; OR (IV) THE
INFRINGEMENT INDEMNIFICATION OBLIGATIONS OF SECTION 7, ALL OTHER LIABILITY
RELATED TO THIS AGREEMENT, IF ANY, WHETHER ARISING IN CONTRACT, TORT
(INCLUDING NEGLIGENCE) OR OTHERWISE, OF ANY PARTY TO THIS AGREEMENT SHALL BE
LIMITED TO THE AMOUNT EQUAL TO ONE YEAR OF FEES PAID TO IRON MOUNTAIN UNDER
THIS AGREEMENT. IF CLAIM OR LOSS IS MADE IN RELATION TO A SPECIFIC DEPOSIT OR
DEPOSITS, SUCH LIABILITY SHALL BE LIMITED TO THE FEES RELATED SPECIFICALLY TO
SUCH DEPOSITS.

 

4

 

11.  Consequential
Damages Waiver.

 

IN NO EVENT SHALL ANY PARTY TO THIS AGREEMENT BE
LIABLE TO ANOTHER PARTY FOR ANY INCIDENTAL, SPECIAL, PUNITIVE OR CONSEQUENTIAL
DAMAGES, LOST PROFITS, ANY COSTS OR EXPENSES FOR THE PROCUREMENT OF SUBSTITUTE
SERVICES (EXCLUDING SUBSTITUTE ESCROW SERVICES), OR ANY OTHER INDIRECT DAMAGES,
WHETHER ARISING IN CONTRACT, TORT (INCLUDING NEGLIGENCE) OR OTHERWISE EVEN IF
THE POSSIBILITY THEREOF MAY BE KNOWN IN ADVANCE TO ONE OR MORE PARTIES.

 

12.  General.

 

(a)   Incorporation of Work
Requests. All valid Depositor and Beneficiary Work Requests
are incorporated into this Agreement.

 

(b)   Purchase Orders. In the event
that the Paying Party issues a purchase order or other instrument used to pay
Service Fees to Iron Mountain, any terms and conditions set forth in the
purchase order which constitute terms and conditions which are in addition to
those set forth in this Agreement or which establish conflicting terms and
conditions to those set forth in this Agreement are expressly rejected by Iron
Mountain.

 

(c)   Right to Make Copies. Iron Mountain
shall have the right to make copies of all Deposit Material as reasonably
necessary to perform the Services. Iron Mountain shall copy all copyright,
nondisclosure, and other proprietary notices and titles contained on Deposit
Material onto any copies made by Iron Mountain. Any copying expenses incurred
by Iron Mountain as a result of a Work Request to copy will be borne by the
Party requesting the copies. Iron Mountain may request Depositor’s reasonable
cooperation in promptly copying Deposit Material in order for Iron Mountain to
perform this Agreement.

 

(d)   Choice of Law. The validity,
interpretation, and performance of this Agreement shall be controlled by and
construed under the laws of the Commonwealth of Massachusetts, USA, as if
performed wholly within the state and without giving effect to the principles
of conflicts of laws.

 

(e)   Authorized Person(s). Depositor and
Beneficiary must each authorize and designate one person whose actions will
legally bind such Party (“Authorized Person” who shall be identified in the
Authorized Person(s) Notices Table of this Agreement or such Party’s legal
representative) and who may manage the Iron Mountain escrow account through the
Iron Mountain website or written instruction. The Authorized Person for each
the Depositor and Beneficiary will maintain the accuracy of their name and
contact information provided to Iron Mountain during the Term of this
Agreement.

 

(f)    Right to Rely on
Instructions. With respect to Release of Deposit Material or the
destruction of Deposit Material, Iron Mountain shall rely on instructions
from a Party’s Authorized Person(s). In all other cases, Iron Mountain may
act in reliance upon any instruction, instrument, or signature reasonably
believed by Iron Mountain to be genuine and from an Authorized Person(s),
officer, or other employee of a Party. Iron Mountain may assume that such
representative of a Party to this Agreement who gives any written notice,
request, or instruction has the authority to do so. Iron Mountain will not be
required to inquire into the truth of, or evaluate the merit of, any statement
or representation contained in any notice or document reasonably believed to be
from such representative.

 

(g)   Force Majeure. No Party
shall be liable for any delay or failure in performance due to events outside
the defaulting Party’s reasonable control, including without limitation acts of
God, earthquake, labor disputes, shortages of supplies, riots, war, acts of
terrorism, fire, epidemics, or delays of common carriers or other circumstances
beyond its reasonable control. The obligations and rights of the excused Party
shall be extended on a day-to-day basis for the time period equal to the period
of the excusable delay.

 

(h)   Notices. All notices
regarding Exhibit C (Release of Deposit Material) shall be sent by
commercial express mail or other commercially appropriate means that provide
prompt delivery and require proof of delivery. All other correspondence,
including invoices, payments, and other documents and communications, may be
sent electronically or via regular mail. The Parties shall have the right to
rely on the last known address of the other Parties. Any correctly addressed
notice to the last known address of the other Parties that is relied on herein,
that is refused, unclaimed, or undeliverable shall be deemed effective as of
the first date that said notice was refused, unclaimed, or deemed undeliverable
by electronic mail, the postal authorities, or through messenger or commercial
express delivery service.

 

(i)    No Waiver. No waiver of
any right under this Agreement by any Party shall constitute a subsequent
waiver of that or any other right under this Agreement.

 

(j)    Assignment. No assignment
of this Agreement by Depositor or Beneficiary or any rights or obligations of
Depositor or Beneficiary under this Agreement is permitted without the written
consent of Iron Mountain, which shall not be unreasonably withheld or delayed.
Iron Mountain shall have no obligation in performing this Agreement to
recognize any successor or assign of Depositor or Beneficiary unless Iron
Mountain receives clear, authoritative and conclusive written evidence of the
change of Parties.

 

(k)   Severability. In the event
any of the terms of this Agreement become or are declared to be illegal or
otherwise unenforceable by any court of competent jurisdiction, such
term(s) shall be null and void and shall be deemed deleted from this
Agreement. All remaining terms of this Agreement shall remain in full force and
effect. If this paragraph becomes

 

5

 

applicable and, as a result, the value of this
Agreement is materially impaired for any Party, as determined by such Party in
its sole discretion, then the affected Party may terminate this Agreement by
written notice to the other Parties.

 

(l)    Independent Contractor
Relationship. Depositor and Beneficiary understand, acknowledge,
and agree that Iron Mountain’s relationship with Depositor and Beneficiary will
be that of an independent contractor and that nothing in this Agreement is
intended to or should be construed to create a partnership, joint venture, or
employment relationship.

 

(m)  Attorneys’ Fees. In any suit or
proceeding between the Parties relating to this Agreement, the prevailing Party
will have the right to recover from the other(s) its costs and reasonable
fees and expenses of attorneys, accountants, and other professionals incurred
in connection with the suit or proceeding, including costs, fees and expenses
upon appeal, separately from and in addition to any other amount included in
such judgment. This provision is intended to be severable from the other
provisions of this Agreement, and shall survive and not be merged into any such
judgment.

 

(n)   No Agency. No Party has
the right or authority to, and shall not, assume or create any obligation of
any nature whatsoever on behalf of the other Parties or bind the other Parties
in any respect whatsoever.

 

(o)   Disputes. Any dispute,
difference or question relating to or arising among any of the Parties
concerning the construction, meaning, effect or implementation of this
Agreement or the rights or obligations of any Party hereof will be submitted
to, and settled by arbitration by a single arbitrator chosen by the
corresponding Regional Office of the American Arbitration Association in
accordance with the Commercial Rules of the American Arbitration
Association. The Parties shall submit briefs of no more than 10 pages and
the arbitration hearing shall be limited to two (2) days maximum. The
arbitrator shall apply Massachusetts law. Unless otherwise agreed by the
Parties, arbitration will take place
in Boston, Massachusetts, U.S.A. Any court having jurisdiction over the matter
may enter judgment on the award of the arbitrator. Service of a petition to
confirm the arbitration award may be made by regular mail or by commercial
express mail, to the attorney for the Party or, if unrepresented, to the Party
at the last known business address. If however, Depositor or Beneficiary refuse
to submit to arbitration, the matter shall not be submitted to arbitration and
Iron Mountain may submit the matter to any court of competent jurisdiction for
an interpleader or similar action. Unless adjudged otherwise, any costs
incurred by Iron Mountain, including reasonable attorney’s fees and costs,
shall be divided equally and paid by Depositor and Beneficiary.

 

(p)   Regulations. All Parties
are responsible for and warrant, to the extent of their individual actions or
omissions, compliance with all applicable laws, rules and regulations,
including but not limited to: customs laws; import; export and re-export laws;
and government regulations of any country from or to which the Deposit Material
may be delivered in accordance with the provisions of this Agreement.

 

(q)   No Third Party Rights. This
Agreement is made solely for the benefit of the Parties to this Agreement and
their respective permitted successors and assigns, and no other person or
entity shall have or acquire any right by virtue of this Agreement unless
otherwise agreed to by all the Parties hereto.

 

(r)    Entire Agreement. The Parties
agree that this Agreement, which includes all the Exhibits attached hereto and
all valid Work Requests and SOWs submitted by the Parties, is the complete
agreement between the Parties hereto concerning the subject matter of this
Agreement and replaces any prior or contemporaneous oral or written
communications between the Parties. There are no conditions, understandings,
agreements, representations, or warranties, expressed or implied, which are not
specified herein. Each of the Parties herein represents and warrants that the
execution, delivery, and performance of this Agreement has been duly authorized
and signed by a person who meets statutory or other binding approval to sign on
behalf of its business organization as named in this Agreement. This Agreement
may only be modified by mutual written agreement of all the Parties.

 

(s)   Counterparts. This
Agreement may be executed in any number of counterparts, each of which shall be
an original, but all of which together shall constitute one instrument.

 

(t)    Survival. Sections 6
(Term and Termination), 7 (Infringement Indemnification), 8 (Warranties), 9
(Confidential Information), 10 (Limitation of Liability), 11 (Consequential
Damages Waiver), and 12 (General) of this Agreement shall survive termination
of this Agreement or any Exhibit attached hereto.

 

(balance
of this page left intentionally blank – signature page follows)

 

6

 

IN WITNESS WHEREOF, the Parties have duly
executed this Agreement as of the Effective Date by their authorized
representatives:

 

	
  DEPOSITOR

  	
  BENEFICIARY

  
	
   

  	
   

  
	
  COMPANY NAME:

  	
  COMPANY NAME:

  
	
  SIGNATURE:

  	
  SIGNATURE:

  
	
  PRINT NAME:

  	
  PRINT NAME:

  
	
  TITLE:

  	
  TITLE:

  
	
  DATE:

  	
  DATE:

  
	
  EMAIL ADDRESS:

  	
  EMAIL ADDRESS:

  

 

IRON MOUNTAIN INTELLECTUAL PROPERTY MANAGEMENT, INC.

 

	
  SIGNATURE:

  	
   

  
	
  PRINT NAME:

  	
   

  
	
  TITLE:

  	
   

  
	
  DATE:

  	
   

  
	
  EMAIL ADDRESS:

  	
  ipmclientservices@ironmountain.com

  

 

NOTE:
AUTHORIZED Person(s)/Notices Table,
Billing Contact Information Table AND EXHIBITS FOLLOW

 

7

 

DEPOSITOR — AUTHORIZED PERSON(S)/NOTICES
TABLE

 

Provide
the name(s) and contact information of the Authorized Person(s) under
this Agreement. All notices will be sent to the person(s) at the address(es)
set forth below. This is required information.

 

	
  Print Name:

  
	
   

  
	
  Title:

  
	
  Email Address

  
	
  Address 1

  
	
  Address 2

  
	
  City/State Province

  
	
  Postal/Zip Code

  
	
  Phone Number

  
	
  Fax Number

  

 

BENEFICIARY — AUTHORIZED PERSON(S)/NOTICES
TABLE

 

Provide
the name(s) and contact information of the Authorized Person(s) under
this Agreement. All notices will be sent to the person(s) at the address(es)
set forth below. This is required information.

 

Print Name:

 

Title:

Email Address

Address
1

Address
2

City/State/Province

Postal/Zip
Code

Phone Number

Fax Number

 

IRON MOUNTAIN INTELLECTUAL PROPERTY MANAGEMENT, INC.

 

All  notices should
be sent to ipmclientservices@ironmountain.com OR

 

Iron Mountain Intellectual Property
Management, Inc., Attn: Client Services

2100 Norcross Parkway, Suite 150

Norcross, Georgia, 30071, USA.

Telephone: 800-875-5669

Facsimile: 770-239-9201

 

8

 

Billing Contact Information Table

 

Please
provide the name and contact information of the Billing Contact under this
Agreement. All Invoices will be sent to this individual at the address set
forth below.

 

	
  DEPOSITOR

  	
  BENEFICIARY

  
	
   

  	
   

  
	
  Print Name:

  	
  Print Name:

  
	
  Title:

  	
  Title:

  
	
  Email Address

  	
  Email Address

  
	
  Street Address

  	
  Street Address

  
	
  Province/City/State

  	
  Province/City/State

  
	
  Postal/Zip Code

  	
  Postal/Zip Code

  
	
  Phone Number

  	
  Phone Number

  
	
  Fax Number

  	
  Fax Number

  
	
  Purchase Order #

  	
  Purchase Order #

  

 

9

 

MUST BE
COMPLETED      EXHIBIT A - Escrow Service
Work Request - Deposit Account Number:

 

	
  SERVICE

  Check box(es) to

  order service

  	
   

  	
  SERVICE DESCRIPTION - THREE
  PARTY ESCROW AGREEMENT

  All services are listed below. Services in shaded tables are required for
  every new escrow

  account set up. Some services may not be available under the Agreement.

  	
   

  	
  ONE-

  TIME

  FEES

  	
   

  	
  ANNUAL

  FEES

  	
   

  	
  PAYING PARTY

  Check box to identify

  the Paying Party for

  each service below.

  
	
  x Setup Fee

  	
   

  	
  Iron Mountain will setup a new escrow deposit account
  using a standard escrow agreement Custom contracts are subject to the Custom
  Contract Fee noted below.

  	
   

  	
  $1500

  	
   

  	
   

  	
   

  	
  o Depositor - OR -

  o Beneficiary

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  x Deposit Account Fee-Including
  Escrow Management Center Access

  	
   

  	
  Iron Mountain will set up one deposit account to
  manage and administrate access to Deposit Material that will be securely
  stored in controlled media vaults. Furthermore, Iron Mountain will
  provide account services that include unlimited deposits, electronic
  vaulting, access to Iron Mountain ConnectTM Escrow Management Center for
  secure online account management, submission of electronic Work Requests, and
  communication of status. A Client Manager will be assigned to each deposit
  account and provide training upon request to facilitate secure Internet
  access to the account and ensure fulfillment of Work Requests. An oversize
  fee of $200 USD per 1.2 cubic foot will be charged for deposits that exceed
  2.4 cubic feet.

  	
   

  	
   

  	
   

  	
  $1,000

  	
   

  	
  o Depositor - OR -

  o Beneficiary

  
	
  x Beneficiary Fee Including
  Escrow Management Center Access

  	
   

  	
  Iron Mountain will fulfill a Work Request to add a
  Beneficiary to an escrow deposit account and manage access rights associated
  with the account. Beneficiary will have access to Iron Mountain ConnectTM
  Escrow Management Center for secure online account management, submission of
  electronic Work Requests, and communication of status. A Client Manager will
  be assigned to each deposit account and provide training upon request to
  facilitate secure Internet access to the account and ensure fulfillment of
  Work Requests.

  	
   

  	
   

  	
   

  	
  $700

  	
   

  	
  o Depositor - OR -

  o Beneficiary

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  o Add Deposit Tracking
  Notification

  	
   

  	
  At least semi-annually, Iron Mountain will send
  an update reminder to Depositor. Thereafter, Beneficiary will be notified of
  last deposit.

  	
   

  	
  N/A

  	
   

  	
  $375

  	
   

  	
  o Depositor - OR -

  o Beneficiary

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  x Add File List Test

  	
   

  	
  Iron Mountain will fulfill a Work Request to perform
  a File List Test, which includes analyzing deposit media readability, file
  listing, creation of file classification table, virus scan, and assurance of
  completed deposit questionnaire, A final report will be sent to the Paying
  Party regarding the Deposit Material to ensure consistency between
  Depositor’s representations (i.e., Exhibit B and Supplementary
  Questionnaire) and stored Deposit Material. Deposit must be provided on CD,
  DVD-R, or deposited FTP.

  	
   

  	
  $2,500

  	
   

  	
  N/A

  	
   

  	
  o Depositor- OR -

  o Beneficiary

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  o Add Level 1 - Inventory and
  Analysis Test

  	
   

  	
  Iron Mountain will perform an Inventory Test on the
  initial deposit, which includes Analyzing deposit media readability, virus
  scanning, developing file classification tables, identifying the
  presence/absence of build instructions, and identifying materials required to
  recreate the Depositor’s software development environment. Output includes a
  report which will include build instructions, file classification tables and
  listings. In addition, the report will list required software development
  materials, including, without limitation, required source code languages and
  compilers, third-party software, libraries, operating systems, and hardware,
  as well as Iron Mountain’s analysis of the deposit.

  	
   

  	
  $5,000 or based on SOW if
  custom work required

  	
   

  	
  N/A

  	
   

  	
  o Depositor - OR -

  o Beneficiary

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  o Add Level 2 - Compile Test

  	
   

  	
  Iron Mountain will fulfill a Work Request to perform
  a Deposit Compile Test, which includes the Inventory Test as described above
  plus recreating the Depositor’s software development environment, compiling
  source files and modules, linking libraries and recreating executable code,
  pass/fail determination, creation of comprehensive build instructions with a
  final report sent to the Paying Party regarding the Deposit Material. The
  Paying Party and Iron Mountain will agree on a custom Statement of Work
  (“SOW”) prior to the start of fulfillment.

  	
   

  	
  Based on SOW

  	
   

  	
  N/A

  	
   

  	
  o Depositor - OR -

  o Beneficiary

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  o Add Level 3 - Binary
  Comparison

  	
   

  	
  Iron Mountain will fulfill a Work Request to perform
  one Deposit Compile Test Binary Comparison which includes a comparison of the
  files built from the Deposit Compile Test to the actual licensed technology
  on the Beneficiary’s site to ensure a full match in file size, with a final
  report sent to the Requesting Party regarding the Deposit Material. The
  Paying Party and Iron Mountain will agree on a custom Statement of Work
  (“SOW”) prior to the start of fulfillment.

  	
   

  	
  Based on SOW

  	
   

  	
  N/A

  	
   

  	
  o Depositor -OR -

  o Beneficiary

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  o Add Level 4  - Full Usability

  	
   

  	
  Iron Mountain will fulfill a Work Request to perform
  one Deposit Compile Test Full Usability which includes a confirmation that the
  built applications work properly when installed, A final report will be sent
  to the Paying Party regarding the Deposit Material. The Paying Party and Iron
  Mountain will agree on a custom Statement of Work (“SOW”) prior to the start
  of fulfillment.

  	
   

  	
  Based on SOW

  	
   

  	
  N/A

  	
   

  	
  o Depositor - OR - 

  o Beneficiary

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  o Add Dual/Remote Vaulting

  	
   

  	
  Iron Mountain will fulfill a Work Request to store
  deposit materials in one additional location as defined within the Service
  Agreement Duplicate storage request may be in the form of either physical
  media or electronic storage.

  	
   

  	
  N/A

  	
   

  	
  $500

  	
   

  	
  o Depositor - OR -

  o Beneficiary

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  o Release Deposit Material

  	
   

  	
  Iron Mountain will process a Work Request to release
  Deposit Material by following the specific procedures defined in
  Exhibit C “Release of Deposit Material” the Escrow Service Agreement.

  	
   

  	
  $500

  	
   

  	
  N/A

  	
   

  	
  o Depositor- OR-

  o Beneficiary

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  o Add Custom Services

  	
   

  	
  Iron Mountain will provide its Escrow Expert
  consulting based on a custom SOW mutually agreed to by all Parties.

  	
   

  	
  $175/hour

  	
   

  	
  N/A

  	
   

  	
  o Depositor- OR-

  o Beneficiary

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  o Custom Contract Fee

  	
   

  	
  Custom contracts are subject to the Custom Contract
  Fee, which covers the review and processing of custom or modified contracts.

  	
   

  	
  $750

  	
   

  	
  N/A

  	
   

  	
  o Depositor - OR -

  o Beneficiary

  

 

Note:
Parties may submit Work Requests via written instruction or electronically
through the online portal.

 

10

 

EXHIBIT B

DEPOSIT
MATERIAL DESCRIPTION

 

COMPANY
NAME:                                                          DEPOSIT
ACCOUNT NUMBER:

 

DEPOSIT
NAME                                               AND
DEPOSIT VERSION

(Deposit Name will appear in
account history reports)

DEPOSIT MEDIA (PLEASE LABEL ALL
MEDIA WITH THE DEPOSIT NAME PROVIDED ABOVE)

 

	
  MEDIA TYPE

  	
   

  	
  QUANTITY

  	
   

  	
  MEDIA
  TYPE

  	
   

  	
  QUANTITY

  
	
  o
  CD-ROM / DVD

  	
   

  	
   

  	
   

  	
  o 3.5”
  Floppy Disk

  	
   

  	
   

  
	
  o DLT
  Tape

  	
   

  	
   

  	
   

  	
  o
  Documentation

  	
   

  	
   

  
	
  o DAT
  Tape

  	
   

  	
   

  	
   

  	
  o Hard
  Drive / CPU

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  o
  Circuit Board

  	
   

  	
   

  

 

	
   

  	
   

  	
  TOTAL
  SIZE OF TRANSMISSION

  (SPECIFY IN BYTES)

  	
   

  	
  # OF
  FILES

  	
   

  	
  # OF
  FOLDERS

  
	
  o Electronic
  Deposit

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  o Other
  (please describe below):

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

DEPOSIT ENCRYPTION (Please check
either “Yes” or “No” below and complete as appropriate) 

 

Is the media or are any of the
files encrypted? o  Yes or o   No

 

If yes, please include any passwords
and decryption tools description below. Please also deposit all necessary
encryption software with this deposit.

 

Encryption
tool
name                                                                      Version

Hardware
required

Software
required

Other
required information

 

DEPOSIT CERTIFICATION (Please check
the box below to Certify and Provide your Contact Information)

 

	
  o I certify for Depositor
  that the above described Deposit Material has been transmitted electronically
  or sent via commercial express mail carrier to Iron Mountain at the address
  below.

  	
  o Iron Mountain has
  inspected and accepted the above described Deposit Material either
  electronically or physically. Iron Mountain will notify Depositor of any
  discrepancies.

  
	
   

  	
   

  
	
  NAME:

  	
  NAME:

  
	
  PRINT NAME:

  	
  PRINT NAME:

  
	
  DATE:

  	
  DATE:

  
	
  EMAIL ADDRESS:

  	
   

  
	
  TELEPHONE NUMBER:

  	
   

  
	
  FAX NUMBER:

  	
   

  
	
   

  	
   

  

 

Note: If Depositor is physically
sending Deposit Material to Iron Mountain, please label all media and mail all
Deposit Material with the appropriate Exhibit B via commercial express
carrier to the following address:

Iron Mountain Intellectual
Property
Management, Inc.                                        Telephone:
800-875-5669

Attn: Vault
Administration                                                                                    Facsimile:
770- 239-9201

2100 Norcross Parkway,
Suite 150

Norcross, GA 30071

 

FOR
IRON MOUNTAIN USE ONLY: (NOTED DISCREPANCIES ON VISUAL INSPECTION)

 

 

 

11

 

EXHIBIT C

 

RELEASE
OF DEPOSIT MATERIAL

Deposit Account Number:                           

 

Iron Mountain will use the
following procedures to process any Beneficiary Work Request to release Deposit
Material. All notices under this Exhibit C shall be sent pursuant to the
terms of Section 12(h) Notices.

 

1.          Release
Conditions. The Depositor and Beneficiary agree that a Work
Request for the release of the Deposit Material shall be based solely on one or
more of the following conditions (defined as “Release
Conditions”):

 

(i)   Depositor’s breach of the license agreement
or other agreement between the Depositor and the Beneficiary regulating the use
of the Deposit Material covered under this Agreement; or

 

(ii)   Failure of the Depositor to function as a
going concern or to operate in the ordinary course; or

 

(iii) Depositor is
subject to voluntary or involuntary bankruptcy.

 

2.             Release Work
Request. A Beneficiary may submit a Work Request to Iron Mountain to release
the Deposit Material covered under this Agreement. Iron Mountain will send a
written notice of this Beneficiary Work Request within five (5) business
days to the Depositor’s Authorized Person(s).

3.            Contrary
Instructions. From the date Iron Mountain mails written notice
of the Beneficiary Work Request to release Deposit Material covered under this
Agreement, Depositor Authorized Person(s) shall have ten (10) business
days to deliver to Iron Mountain contrary instructions. Contrary instructions
shall mean the written representation by Depositor that a Release Condition has
not occurred or has been cured (“Contrary Instructions”).
Contrary Instructions shall be on company letterhead and signed by a Depositor
Authorized Person. Upon receipt of Contrary Instructions, Iron Mountain
shall promptly send a copy to Beneficiary’s Authorized Person(s).
Additionally, Iron Mountain shall notify both Depositor and Beneficiary
Authorized Person(s) that there is a dispute to be resolved pursuant to
the Disputes provisions of this Agreement. Iron Mountain will continue to store
Deposit Material without release pending (i) joint instructions from
Depositor and Beneficiary with instructions to release the Deposit Material; or
(ii) dispute resolution pursuant to the Disputes provisions of this
Agreement; or (iii) receipt of an order from a court of competent jurisdiction.

4.             Release of
Deposit Material. If Iron Mountain does not receive timely Contrary
Instructions from a Depositor Authorized Person, Iron Mountain is
authorized to release Deposit Material to the Beneficiary. Iron Mountain is
entitled to receive any undisputed, unpaid Service Fees due Iron Mountain from
the Parties before fulfilling the Work Request to release Deposit Material
covered under this Agreement. Any Party may cure a default of payment of
Service Fees.

5.             Termination of
Agreement Upon Release. This Agreement will terminate upon the
release of Deposit Material held by Iron Mountain.

6.             Right to Use
Following Release. Beneficiary has the right under this Agreement to
use the Deposit Material for the sole purpose of continuing the benefits afforded
to Beneficiary by the License Agreement. Notwithstanding, the Beneficiary shall
not have access to the Deposit Material unless there is a release of the
Deposit Material in accordance with this Agreement. Beneficiary shall be
obligated to maintain the confidentiality of the released Deposit Material.

 

12

 

EXHIBIT Q

ESCROW
DEPOSIT QUESTIONNAIRE

 

Introduction

 

From time to time,
technology escrow beneficiaries may exercise their right to perform verification
services. This is a service that Iron Mountain provides for the purpose of
validating relevance, completeness, currency, accuracy and functionality of
deposit materials.

 

Purpose
of Questionnaire

 

In order for Iron Mountain
to determine the deposit material requirements and to quote fees associated
with verification services, a completed deposit questionnaire is requested. It
is the responsibility of the escrow depositor to complete the questionnaire.

 

Instructions

 

Please complete the
questionnaire in its entirety by answering every question with accurate data.
Upon completion, please return the completed questionnaire to the beneficiary
asking for its completion, or e-mail it to Iron Mountain to the attention of verification@ironmountain.com

 

Escrow Deposit
Questionnaire

 

General Description

 

1.             What is the general function
of the software to be placed into escrow?

2.             On what media will the
source code be delivered?

3.             What is the size of the
deposit in megabytes?

 

Requirements for the Execution of
the Software Protected by the Deposit

 

1.             What are the system hardware
requirements to successfully execute the software? (memory, disk
space, etc.)

2.             How many machines are
required to completely set up the software?

3.             What are the software and
system software requirements, to execute the software and verify correct
operation?

 

Requirements for the Assembly of
the Deposit

 

1.            Describe the
nature of the source code in the deposit. (Does the deposit include interpreted
code, compiled source, or a mixture? How do the different parts of the deposit
relate to each other?)

2.            How many build processes are
there?

3.            How many unique build
environments are required to assemble the material in the escrow deposit into
the deliverables?

4.            What hardware is required
for each build environment to compile the software? (including memory, disk
space, etc.)

5.            What operating
systems (including versions) are used during compilation? Is the software
executed on any other operating systems/version?

6.            How many separate
deliverable components (executables, share libraries, etc.) are built?

7.            What compilers/linkers/other
tools (brand and version) are necessary to build the application?

8.            What, if any, third-party
libraries are used to build the software?

9.            How long does a complete
build of the software take? How much of that time requires some form of human
interaction and how much is automated?

10.      Do you have a formal build
document describing the necessary steps for system configuration and
compilation?

11.      Do you have an internal QA
process? If so, please give a brief description of the testing process.

12.     Please list the appropriate
technical person(s) Iron Mountain may contact regarding this set of escrow
deposit materials.

 

Please
provide your technical verification contact information below:

 

	
  COMPANY:

  	
   

  
	
  SIGNATURE:

  	
   

  
	
  PRINT NAME:

  	
   

  
	
  ADDRESS 1:

  	
   

  
	
  ADDRESS 2:

  	
   

  
	
  CITY, STATE, ZIP

  	
   

  
	
  TELEPHONE:

  	
   

  
	
  EMAIL ADDRESS:

  	
   

  

 

For
additional information about Iron Mountain Technical Verification Services,
please contact

Manager of Verification Services at 800-875-5669 or
by e-mail at mailto: verification@ironmountain.com

 

13Exhibit 10.6

 

JOINT PRODUCT DEVELOPMENT
AGREEMENT

 

This Joint Product Development Agreement (“Agreement”)
is made and entered into on this 16th day of July,
2010 (“Effective Date”), by and between Corgenix Medical Corporation, a
Nevada corporation (“Corgenix”), with its principal place of business at
11575 Main Street, Suite 400, Broomfield, Colorado 80020, and
Financière Elitech SAS, a société par actions
simplifiée organized under the laws of France (“Elitech”),
with its principal place of business at 12-12bis, rue Jean Jaurès, 92800
Puteaux, France.  Corgenix and Elitech
are sometimes referred to in this agreement individually as a “Party”
and, collectively, as the “Parties.”

 

PRELIMINARY STATEMENTS

 

A.            Elitech
and its Affiliates have product lines that include chemistry analyzers and
reagents and the capability to modify those products and to design and
manufacture other in vitro diagnostic products.

 

B.            Corgenix
has developed and is commercializing immunoassays for specific tests related to
human health (each a “Corgenix Assay,” and collectively, the “Corgenix
Assays”).

 

C.            Elitech
and Corgenix desire to establish a product co-development relationship in order
to improve technology development efficiency, with a goal of modifying Corgenix
Assays so that Elitech and its Affiliates can commercialize the Corgenix Assays
as part of a system that includes standard or modified versions of their
chemistry analyzers, serology instruments or other instruments (collectively,
the “Elitech Analyzers”).

 

AGREEMENT

 

The Parties, intending to be legally bound, hereby agree
as follows:

 

1.             Purpose.

 

The goal of the co-development effort is
the modification of the Corgenix Assays for use in Elitech Analyzers for
commercialization by Elitech and its Affiliates.  Phase I of the co-development effort
(the “Phase I Co-Development Program”) is focused on the sharing
and licensing of Corgenix Assay technology to facilitate this purpose.  The intent is that, in order to achieve joint
development of Corgenix Assays modified to be used with the Elitech Analyzers
(the “New Corgenix Assays”), all relevant Corgenix Assay technology will
be available to Elitech and its Affiliates to establish the broadest common
immunoassay technology base to pursue co-development of the New Corgenix Assays.  Such technology would include, for example,
manufacturing know-how, testing and reliability information, visits to
production facilities, and technical consultation, for which the burden of
disclosure is reasonable.  Neither Party
intends for this Agreement to grant a second source right on immunoassay
products to the other Party.  The
development of a System for each Corgenix Assay will constitute a separate
project, with separate Development Plans, expense reimbursement budgets for
Corgenix, supply arrangements, transfer pricing, and Product performance and
prototype performance acceptance criteria.

 

1

 

2.             Definitions.

 

2.1.          “Affiliate” of a specified Person means a
Person that directly or indirectly controls, is controlled by, or is under
common control with, such specified Person. 
For purposes of this definition, “control” means the possession,
directly or indirectly, of the power to direct or cause the direction of the
management and policies of a Person, whether through the ownership of voting
securities, as trustee or executor, by contract, or otherwise.

 

2.2.          “Combination Product” means any product that
includes both a System and any other consumable product, reagent or component
that is not a Product; however, Combination Product does not include bundling
of items pursuant to a reagent rental plan or an analogous plan, the Net Sales
calculation for which is provided in Section 2.9.3.

 

2.3.          “Consumer” means
any Person that acquires a Product for any purpose other than resale.

 

2.4.          “Copyright Interests”
means all rights, title and interests in all copyright rights, and all other
literary property or author’s rights, and all rights, title or interests in all
copyrights and copyrighted interests.

 

2.5.          “Corgenix Assay
Proprietary Technology” means Proprietary Technology that is relevant to
the development and production of Corgenix Assays.

 

2.6.          “Intellectual Property
Rights” means Patent Rights, Trade Secret Rights and Copyright Interests.

 

2.7.          “Joint Intellectual
Property Rights” means all Intellectual Property Rights to Program
Technology except Patent Rights to Program Technology.

 

2.8.          “Joint Patent Rights”
means all Patent Rights to Program Technology when the claimed invention was
made by inventors of both Elitech (or its Affiliates) and Corgenix.

 

2.9.          “Net Product Sales”
means, as applicable, the following:

 

2.9.1.       Elitech’s or its Affiliates’ gross revenues received
from Sales of Products, less value added taxes, sales taxes and their equivalents
(such as goods and services taxes and provisional sales taxes), and any other
taxes (but not including taxes on income not levied directly on a Sale), and
less credits for returns, rebates, discounts, insurance, transportation costs,
bad debt allowances when actually taken, and customs duties;

 

2.9.2.       If a Product is Sold as part of a Combination
Product, the Net Product Sales of the Combination Product, for the purpose of
determining the royalty payments to be paid to Corgenix thereon, will be
determined by multiplying the actual Net Product Sales of the Combination
Product determined in accordance with Section 2.9.1, for the
applicable royalty reporting period, by the fraction A/A+B, where A is the
average selling price of the Product for Sales thereof during the reporting
period, and B is the average selling price to Consumers of a unit of the other
product(s) included in the Combination Product for Sales thereof during
the reporting period; provided, however,
that if the Product and/or the other product(s) were not sold 

 

2

 

separately
during the reporting period in question, then A/A+B will be calculated based on
A and B for the most recent royalty reporting period in which they were sold
separately; and

 

2.9.3.       If a Product price is increased to include an amount
to cover service costs, finance costs or depreciation of an instrument or other
products bundled with such Product under a reagent rental plan or analogous
plan, then Net Product Sales for such Products will be reduced to reflect the
amortized costs associated with provision of any such instrument or other
products bundled with such Product. 
Total depreciation and service charges will be determined in accordance
with United States generally accepted accounting principles.

 

2.10.        “New Corgenix Assays
Proprietary Technology” means Proprietary Technology that may be relevant
to the development and production of New Corgenix Assays, including Corgenix
Assay Proprietary Technology that is relevant to and necessary for the
development and production of New Corgenix Assays.

 

2.11.        “Patent Rights”
means all rights, title and interests in all patents and applications for
patents, in all patents of addition, in all invention certificates, and in all
industrial designs, industrial models and utility models (including any
reissue, division, continuation or continuation-in-part application) throughout
the world now or hereafter filed.

 

2.12.        “Person” means an individual, corporation, partnership,
limited partnership, trust, association, entity, or government (including a
political subdivision, agency or instrumentality of a government).

 

2.13.        “Product” means any (a) System; or
(b) New Corgenix Assay used with or sold as part of a System.

 

2.14.        “Program Technology”
means Technology developed by or for one Party or both Parties (and/or their
respective Affiliates) pursuant to a Development Plan.  Technology developed or disclosed by either
Party on or after the date of adoption of a Development Plan by the Executive
Committee will be presumed to have been developed pursuant to this
Agreement.  This presumption may be
rebutted by evidence that the Technology was developed primarily by one Party
or such Party’s Affiliates independently, and not pursuant to co-development
efforts by the Parties pursuant to this Agreement.

 

2.15.        “Proprietary
Technology” means unpublished Technology developed primarily by or for one
Party or such Party’s Affiliates independent of a co-development effort with
the other Party that is not Program Technology.

 

2.16.        “Sale” or “Sold”
means the transfer of a Product to a Consumer by Elitech or an Affiliate of
Elitech for monetary or other consideration, whether by sale, rental, lease or
otherwise.

 

2.17.        “Sole Intellectual
Property Rights” means:

 

2.17.1.     All Patent Rights to Program Technology invented
solely by the personnel of one Party or such Party’s Affiliates, whether such
Program Technology resulted from a co-development effort or not (“Sole
Patent Rights to Program Technology”); and

 

3

 

2.17.2.     All Intellectual Property Rights to Proprietary
Technology.

 

2.18.        “System” means a
combination of a New Corgenix Assay and an Elitech Analyzer.

 

2.19.        “Technology” means
information relevant to the development and production of New Corgenix Assays
and Systems, including, without limitation, any of the following items that
have been developed by or for, and are under the control of, Elitech, Corgenix
or their respective Affiliates, and that are not restricted by any third party
for a disclosure and grant of license to the other Party:

 

2.19.1.     Processes, devices, circuits, packages, designs,
layouts, tooling, software, reliability engineering and tests, relating to the
development and manufacture of Elitech Analyzers.

 

2.19.2.     Technology related to the Corgenix Assays, the New
Corgenix Assays, and utilizing immunoassays in Elitech Analyzers.

 

2.19.3.     Information and know-how relating to manufacture of
New Corgenix Assays and Elitech Analyzers.

 

2.19.4.     Information relating to the design of equipment for
manufacturing New Corgenix Assays, as mutually agreed upon on a case-by-case
basis.

 

2.20.        “Territory” means
worldwide.

 

2.21.        “Trade Secret Rights”
means all rights, title and interests in all trade secret rights or equivalent
rights arising under the law of any jurisdiction.

 

3.             Management.

 

3.1.          Executive Committee.  The Phase I Co-Development Program will
be managed by the Executive Committee. 
The composition and duties of the Executive Committee are set forth
below.

 

3.2.          Composition and Term.

 

3.2.1.       The Executive Committee will be comprised of four
members, two of which are to be appointed by each Party.  Each Executive Committee member will have the
right to designate an alternate to attend Executive Committee meetings and vote
in his absence.  All members (or
designated alternates) of the Executive Committee must be officers or employees
of the Parties or their Affiliates, unless otherwise agreed to by all Parties.

 

3.2.2.       One representative of Elitech or its Affiliates will
serve as the chairman of the Executive Committee, and one representative of
Corgenix will be designated secretary. 
The chairman will be responsible for coordinating all projects of the
Phase I Co-Development Program, and the secretary will be responsible for
coordinating all administrative tasks.

 

4

 

3.2.3.       The Executive Committee will meet at least once
every two weeks in person or by conference call.

 

3.3.          Duties.  The duties of the Executive Committee will be
as follows:

 

3.3.1.       Manage the Phase I Co-Development Program and
review, resolve or approve various matters referred to it pursuant to this
Agreement.

 

3.3.2.       Coordinate the disclosure and protection of
Technology reported pursuant to Articles 4 and 11.

 

3.3.3.       Define co-development projects and establish work
groups within twenty (20) business days from the Effective Date.

 

3.3.4.       Prepare, revise and update the co-development
project development plan for each System that includes identification of the
target Corgenix Assay, performance criteria, prototype acceptance criteria, the
amount of development time required from Corgenix, mutually agreed upon
development expenses, sourcing arrangements (subject to Section 7.4),
and such other information as the Executive Committee deems necessary and
appropriate to coordinate the development of the System (the “Development
Plan”).

 

3.3.5.       Report the progress of the work groups to the
Parties on at least a bi-weekly basis.

 

3.3.6.       Report to the Parties on at least a calendar-month
basis all invention disclosures relating to Program Technology, including all
invention disclosures that either Party believes were invented, created or
authored solely by personnel of that Party or its Affiliates.

 

3.3.7.       Approve or deny requests to publish articles or
other information about Program Technology or any aspect of the Phase I
Co-Development Program.

 

3.3.8.       Review each report of invention disclosures made by
the working groups to determine inventorship for each invention disclosure, in
accordance with the patent laws of the United States.  If the Executive Committee cannot agree on
inventorship, then a neutral patent attorney acceptable to both Parties will be
retained to determine inventorship, with both Parties assuming an equal share
of the expense for the same.  If an
invention includes at least one inventor from each of Corgenix and Elitech and
the Executive Committee or retained neutral patent attorney confirms such joint
inventorship, that invention will constitute a Joint Patent Right.  For invention disclosures that are determined
to constitute Joint Patent Rights, the Executive Committee will recommend
disposition as follows:  (a) file a
patent application; (b) recommend foreign countries for filing within the
one-year period after the application is originally filed; (c) do not file
a patent application; (d) retain as a joint trade secret; or
(e) re-review within one month if further information is required to make
a decision.

 

3.3.9.       For invention disclosures on which the Executive
Committee recommends filing a patent application, the following procedures will
apply:

 

5

 

(i)            Elitech or one of its
Affiliates will have primary responsibility to prepare and file the patent
application, providing Corgenix with a draft for review and comment prior to
filing. Elitech will have primary responsibility for prosecution of the patent
application but will keep Corgenix informed with copies of all correspondence
with the patent office and will provide Corgenix the opportunity to comment on
all documents before they are filed. 
Elitech and Corgenix will jointly decide on whether and when to request
examination.  All costs associated with
filing, prosecution and maintenance fees will be borne by Elitech.

 

(ii)           Elitech will endeavor to
file appropriate patent applications in the United States within one calendar
month of the recommendation by the Executive Committee, and if Elitech is
unable to do so, it will advise Corgenix in order to give Corgenix the chance
to prepare and file the application, with all of Corgenix’s costs associated
with the patent application filing and prosecution to be reimbursed by Elitech
and with all maintenance fees to be borne by Elitech.

 

(iii)          If either Party desires to discontinue
prosecution of a patent application, or discontinue paying maintenance fees, or
otherwise permit a patent or patent application to be abandoned, such Party
will promptly advise the Executive Committee, and the other Party will be given
the chance to continue the patent or application in force.  In such case, such other Party will be the
sole owner and will be responsible for all costs associated with the patent filing,
prosecution and maintenance fees, and the Party deciding to discontinue its
effort will receive a royalty-free, paid up license.

 

(iv)          None of Elitech, Corgenix or their respective
Affiliates will be required to file a patent application on invention
disclosures recommended to be filed by the Executive Committee; however, if one
Party has the primary responsibility to file and elects not to file, it will
promptly notify the other Party in order to give such Party a chance to
file.  If that Party files, it will have
sole ownership of any patent(s) issued and will be responsible for all
costs associated with the patent filing, prosecution and maintenance fees, and
the Party that declined to file will receive a royalty-free, paid up license.

 

(v)           Corgenix and Elitech agree to cooperate and
sign, and to cause their respective Affiliates to cooperate and sign, the
necessary legal documents to file the Joint Patent Rights, and provide
reasonable assistance to each other in preparation of any patent application
and the prosecution thereof.

 

3.3.10.     At the written request of either Party, review the
ownership of Technology, or develop guidelines to determine the ownership of
Technology.

 

3.3.11.     Upon the written request of either Party, review
Joint Patent Rights and propose an appropriate licensing framework for review
and approval by the Parties.  The
licensing framework will establish the terms and conditions under which either
Party may unilaterally grant licenses under Joint Patent Rights to third
parties.  The framework will identify the
Joint Patent Rights that may be licensed, the royalty provisions, the method of
royalty sharing between Elitech, Corgenix and their respective Affiliates, and
a requirement that, if any license grant by one Party includes a license
grant-back from the licensee, the licensee will be obligated to grant the other
Party a license or sublicense under equivalent terms.  Upon 

 

6

 

unanimous
approval of the licensing framework by the Executive Committee, either Party
may unilaterally grant licenses to third parties so long as such licenses
conform to the framework.  At the time
one Party decides to initiate license discussions with any third party pursuant
to such framework, such Party will immediately notify the other Party of the
negotiation and identify the potential licensee.

 

3.3.12.     Develop invention disclosure and documentation
requirements for use by employees of both Parties and their respective
Affiliates who participate in the co-development work groups.

 

3.3.13.     Determine the feasibility of developing New Corgenix
Assays for purposes of satisfying the Third Tranche Milestone (as that term is
defined in the Stock Purchase Agreement referenced in Section 8.2.2
below).

 

3.4.          Quorum and Decision.  For the Executive Committee, a quorum will
exist if three members are present.  The
unanimous approval of all the members present at any meeting will be required
for any decision of each Committee.

 

3.5.          Time and Place of Meetings.  The initial meeting of the Executive
Committee will be held within ten (10) business days from the
Effective Date at a mutually agreed upon time and location.

 

3.6.          Documentation.  The secretary of the Executive Committee will
be responsible for the documentation of all Executive Committee decisions.

 

4.             Disclosure of Technology.

 

4.1.          New Corgenix Assay Proprietary
Technology. 
Elitech and Corgenix agree to disclose, and to cause their respective
Affiliates to disclose, as appropriate, their New Corgenix Assay Proprietary
Technology in accordance with schedules and procedures established by the
Executive Committee and set forth in the Development Plan.  Such disclosure will include, to achieve the
New Corgenix Assays joint development, access to all relevant Corgenix Assays
and New Corgenix Assays production facilities under control of either Party,
including visits by qualified engineers and technicians.  Such visits will include the opportunity to
observe and ask questions and receive technical consultation from qualified
personnel.  The frequency and duration of
such visits will be mutually agreed upon, will be reasonable, and both Corgenix
and Elitech agree to use their best efforts to coordinate and accommodate such
technical exchanges and to ensure that fully qualified personnel are involved.  Such disclosure will also include copies of
all reasonably available documents, drawings or other explanatory information;
translation from English to any other language, or vice versa, will not be
required.

 

4.2.          Program Technology.  Each Party will keep the other Party informed
of matters relating to Program Technology. 
For this purpose, the Executive Committee will develop reporting
requirements for Program Technology with which both Parties will endeavor to
comply and cause their respective Affiliates to comply.

 

7

 

4.3.          Products and Other Technology.  By separate mutual agreement, the Parties may
agree to exchange or disclose immunoassay and molecular diagnostics technology
not covered by this Agreement and/or to grant a right to second-source the
other Party’s products.

 

5.             Independent Effort.

 

Both Parties represent that their efforts
to manufacture and market immunoassay products other than the Products will be
totally independent, and each Party will compete with the other as each
unilaterally determines.

 

6.             Ownership; License.

 

6.1.          Sole Ownership.  The Parties and their respective Affiliates
will each retain their separate ownership interests in (a) Proprietary
Technology; and (b) Sole Intellectual Property Rights.  Should either Party claim that Proprietary
Technology of the other Party or an Affiliate of the other Party is also owned
by the receiving Party, upon written request, the Executive Committee will
review whether the Technology is separately owned by both Parties or owned by
the initially disclosing Party or an Affiliate of such Party.  The Executive Committee will recommend a
disposition of the claim to the Parties. 
If the Executive Committee cannot agree on the disposition of a dispute
or disagreement between the Parties as to the ownership rights of such
Technology, then a neutral patent attorney acceptable to both Parties will be
retained to determine the ownership question, with both Parties assuming an
equal share of the expense for the same.

 

6.2.          Joint Ownership.  Joint Intellectual Property Rights, Program
Technology and Joint Patent Rights will be jointly owned by the Parties, with
each Party having an undivided equal ownership interest, and may be used by
either Party or an Affiliate of such Party without restriction, subject to any
confidentiality obligation that may apply, and further subject to the
restriction that Joint Patent Rights can be only licensed pursuant to a
licensing framework approved in accordance with Section 3.3.11.  Ownership of Joint Patent Rights will not be
allocated based on relative contribution, but will be deemed to be ownership of
an undivided one-half interest by each of Corgenix and Elitech, or by such
Affiliates as Corgenix and/or Elitech may designate in writing.

 

6.3.          License.  Each Party hereby grants to the other Party a
non-exclusive, royalty-free, worldwide, nontransferable license to use its
Proprietary Technology and Sole Intellectual Property Rights for the New
Corgenix Assays; provided, however,
that (a) neither Party will have the right to grant sublicenses or have
products made pursuant to such Proprietary Technology and Sole Intellectual
Property Rights, except that either Party will have the right to have products
made for it under Sole Patent Rights to Program Technology; and (b) the
license granted by Elitech to Corgenix pursuant to this Section 6.3
is strictly limited to the use of Elitech’s and its Affiliates’ Proprietary
Technology for the purpose of developing the New Corgenix Assays and manufacturing
such New Corgenix Assays solely for commercialization by Elitech and its
Affiliates.  Notwithstanding the
foregoing, either Party may ask the other Party to grant a license to
sublicense or have products made under such other Party’s Proprietary
Technology and Sole Intellectual Property Rights incorporated in Technology of
such requesting Party subject to the terms and conditions to be mutually agreed
upon on a case-by-case basis.

 

8

 

6.4.          Inability to License.  It is recognized that Elitech, Corgenix or
their respective Affiliates may have contracted or may hereafter contract with
a third party who is not a party to this Agreement, such as a national or other
company or sovereign government, governmental agency or intergovernmental
authority, to do work solely financed by such third party and to assign to such
third party its/their right to grant, or may now or hereafter be restrained by
such third party from granting, licenses (other than by a Person to its parent
or an Affiliate of the parent) under Intellectual Property Rights arising out
of such work.  The inability, for such a
reason, of any of the Parties, or any one of their respective Affiliates, to
grant the licenses agreed to be granted in this Agreement will not be
considered a breach of this Agreement. 
If such contract results in a significant reduction of resources
allocated by one Party to the Phase I Co-Development Program, and the
Executive Committee determines that such reduction of efforts and such
inability to license to be materially detrimental to the purpose of the
Phase I Co-Development Program, the other Party may terminate this
Agreement at any time by giving written notice to that effect to the other
Party.

 

7.             System Intellectual Property Rights Ownership,
Manufacturing and Sales.

 

7.1.          System Intellectual Property
Rights Ownership. 
Subject to Section 3.3.9, and notwithstanding the provisions
set forth in Sections 6.2 and 6.3, Elitech will solely own
any and all Intellectual Property Rights related to any System developed
pursuant to this Agreement, and there is no express or implied license of
Elitech Sole Intellectual Property Rights to Corgenix for any purpose other
than to support the development of Systems and the commercialization of such
Systems by Elitech or its Affiliates in the Territory.

 

7.2.          Corgenix License Grant.  To the extent that Corgenix owns such rights
and has the authority to license such rights in the Territory, Corgenix grants
to Elitech and its Affiliates a non-exclusive, royalty-free license to the
Corgenix Assay Proprietary Technology solely to develop, make, have made, use,
sell, offer to sell, distribute, import and commercialize Products and perform
services for those Products developed pursuant to this Agreement.

 

7.3.          Exclusivity.  During the period that is the earlier of
(a) five (5) years after the Effective Date, or
(b) three (3) years after the Sale of the first Product,
Corgenix will not directly or indirectly develop or commercialize any product
that would compete with the Systems, except to the extent that such products
are commercially available or in development prior to the Effective Date.  For the avoidance of doubt, a list the
products referred to in the preceding sentence is set forth on Exhibit A.  For purposes of this Section 7.3,
a “competing product” is a product that (i) could be applied to the
Elitech Analyzers; or (ii) would utilize the same delivery technology as
the Elitech Analyzers and be reasonably considered to be competing for the same
market segment or Consumers based on general price range or test volume
capability, among other factors.  Any
disagreement between the Parties as to whether a product competes with a System
will be referred to the Executive Committee for resolution.

 

7.4.          Manufacturing.

 

7.4.1.       Corgenix will be responsible for manufacturing New
Corgenix Assays during the Phase I Co-Development Program.  Elitech may elect in its sole discretion to
manufacture New Corgenix Assays to be incorporated into the Systems at any
manufacturing 

 

9

 

facility owned
or operated by Elitech or one of its Affiliates.  If Elitech elects to manufacture New Corgenix
Assays, Corgenix will be responsible for the transfer from development to
manufacturing in Elitech’s facility. 
Elitech will reimburse Corgenix for the reasonable direct costs of such
manufacturing transfer, provided that the Parties have mutually agreed upon and
documented a budget for such costs prior to the commencement of such
manufacturing transfer.

 

7.4.2.       If Elitech elects to have Corgenix manufacture the
New Corgenix Assays to be incorporated into the Systems, then the Parties will
enter into a supply agreement that will include standard provisions for such
agreements including, without limitation, transfer pricing, forecasting,
shipment and delivery, quality standards and other such terms and provisions as
the Parties deem necessary and appropriate; provided, however,
that the transfer price for the sale of New Corgenix Assays by Corgenix to
Elitech as set forth in such supply agreement will not exceed an amount that
results in a greater than forty percent (40%) Corgenix gross margin for
the Products, which will be calculated in accordance with United States generally
accepted accounting principles.

 

8.             Term and Termination.

 

8.1.          Term.  The term of this Agreement will commence on
the Effective Date and continue for twelve (12) calendar months.  At the end of the initial term, and subject
to Section 8.2, this Agreement may be renewed for an additional
twelve (12) calendar month term subject to the agreement between the
Parties on the terms and conditions for such extended period, which agreement
should be reached at least three (3) calendar months before the
expiration date of this Agreement.

 

8.2.          Termination by Either Party.  This Agreement may be terminated immediately
by either Party as follows:

 

8.2.1.       Upon any material breach of this Agreement by the
other Party or any Affiliate of such other Party, except that (a) the
Party alleging such breach must first give the other Party written notice
thereof, which notice must state the nature of the breach in reasonable detail,
and the other Party must have failed to cure such alleged breach within
thirty (30) calendar days after receipt of the notice; and (b) the
Party alleging the breach must terminate the Agreement within thirty (30)
calendar days of the deadline for the breaching Party to have cured the alleged
breach or caused its Affiliate to do so, as appropriate.

 

8.2.2.       Upon the termination for any reason of (a) that
certain Common Stock Purchase Agreement (the “Stock Purchase Agreement”)
of even date with this Agreement made by and among Corgenix, Elitech, and
Wescor, Inc., a Utah corporation and an Affiliate of Elitech; or
(b) that certain Master Distribution Agreement of even date with this
Agreement made by and between Corgenix and Elitech UK Limited, a private
limited company formed under the laws of the United Kingdom.

 

8.2.3.       Upon a failure by the Parties to reach an agreement
with respect to the contents of any Development Plan, provided that such
failure to reach an agreement has lasted for more than thirty (30)
calendar days after a Party’s receipt of notice of deadlock from the other
Party.

 

10

 

8.2.4.       If either Party challenges the validity or
enforceability of the Proprietary Technology or Intellectual Property Rights of
the other Party or of an Affiliate of the other Party.

 

8.3.          Effect of Termination.  Any termination of this Agreement by a Party
will not create any liability to the other Party other than the obligation to
maintain confidentiality of the terminating Party’s Proprietary Technology
received by it under this Agreement, which obligation survives the termination
of this Agreement.

 

8.4.          In the event of any
termination of this Agreement, notwithstanding Section 8.3, all
licenses under any Patent Rights based on or claiming any Program Technology
and/or New Corgenix Assays Proprietary Technology, as well as Intellectual
Property Rights except Patent Rights, granted to either Party under this
Agreement, that are in force on the date of such termination, will survive
royalty-free and continue for the life of such respective rights subject to the
restrictions on such licenses set forth in Sections 6.2, 6.3,
7.1 and 7.2, which restrictions will survive the expiration or
termination of this Agreement.  All Joint
Patent Rights that will be developed, applied for or granted to either Party
after the termination of this Agreement, which are based upon and claim any
Program Technology, will be subject to the licensing framework contemplated by Section 3.3.11.

 

9.             Costs; Payments to Corgenix.

 

9.1.          Costs.  Each Party will be liable for its own costs,
expenses and liabilities incurred under this Agreement; provided, however, that except as may be
otherwise expressly set forth in a Development Plan, Elitech will be
responsible for expenses related to the development of the New Corgenix Assays
and any System, including any Corgenix costs and expenses that are reimbursable
under the terms of any such Development Plan.

 

9.2.          Payments to Corgenix.

 

9.2.1.       Elitech will pay to Corgenix a royalty equal to
seven percent (7%) of the Net Product Sales of New Corgenix Assays
manufactured and Sold by Elitech or Elitech’s Affiliates.

 

9.2.2.       The price that Elitech will pay to Corgenix for
Products manufactured by Corgenix and Sold by Elitech or Elitech’s Affiliates
will be determined by the Parties in accordance with Section 7.4.2.

 

9.3.          Payment Dates and Reports.  Within forty-five (45) calendar days of
the end of each calendar quarter in which Sales occur, Elitech will calculate
the royalty amount and the Product purchase payment owed to Corgenix under Sections 9.2.1
and 9.2.2 and will pay such amount to Corgenix promptly thereafter.  Such payment will be accompanied by a
statement showing the calculation of the amount owed for Net Product Sales for
that quarter (including the gross invoiced sales and permissible deductions therefrom).

 

9.4.          Taxes.  Neither Party will be liable for taxes of any
kind imposed on the other Party, except as may be mutually agreed upon by the
Parties in writing.

 

11

 

9.5.          Responsibility for Employees.  Each Party will be responsible for the
actions of its employees under the Agreement, and any claims, actions,
liabilities or damages relating to such actions.

 

10.          Facility Visits.

 

Each Party agrees to abide by the other
Party’s rules and procedures for visitors when visiting the other Party’s
facilities. Facility visits will be coordinated through the Executive
Committee.

 

11.          Confidentiality.

 

The Parties hereby expressly agree that
any confidential information delivered by either Party to the other Party
pursuant to this Agreement will be deemed “Confidential Information” subject to
all of the terms and provisions contained in that certain mutual non-disclosure
agreement (the “Confidentiality Agreement”) dated July 16, 2010, by
and among the Corgenix Group and the Elitech Group (as those terms are defined
in the Confidentiality Agreement).

 

12.          Representations and Warranties.

 

12.1.        Corporate Existence and Power.  Each Party represents and warrants to the
other that such Party
(a) is a corporation or similar entity duly organized, validly existing
and in good standing under the laws of the jurisdiction in which it is
organized; (b) has the corporate power and authority and the legal right
to own and operate its business and assets, to lease the property and assets it
operates, and to carry on its business as it is now being conducted; and
(c) is in compliance with all requirements of applicable law except to the
extent that any non-compliance would not have a material adverse effect on such
Party’s ability to perform its obligations under this Agreement.

 

12.2.        Authorization and Enforcement of
Obligations.  Each
Party represents and warrants to the other that such Party has taken all necessary corporate action
on its part to authorize the execution and delivery of this Agreement and the
performance of its obligations under this Agreement.  This Agreement has been duly executed and
delivered on behalf of such Party and constitutes a legal, valid, binding
obligation, enforceable against such Party in accordance with its terms.

 

12.3.        No Conflicts.  Each Party represents and warrants to the
other that the execution and delivery of this Agreement and the performance of
such Party’s obligations under this Agreement (a) do not conflict with or
violate any requirement of applicable laws or regulations of any of the terms
of its formation or governance documents; and (b) do not and shall not
conflict with, violate or breach, or constitute a default or require any
consent under, any contractual obligation of such Party.

 

12.4.        Warranty of Rights.  Each Party warrants that it has all right,
title and interest to its Proprietary Technology, or that it has the right to
grant to the receiving Party the licenses granted in this Agreement.  No warranty is given by either Party as to
the performance of any Technology.  The
receiving Party will be responsible for its use of Proprietary Technology.

 

12

 

12.5.        Validity of Patents; Prosecution
of Infringement. 
Nothing contained in this Agreement will be construed as:

 

12.5.1.     A warranty or representation by any of the Parties
as to the validity or scope of any Patent Rights; or

 

12.5.2.     An agreement to bring or prosecute actions or suits
against third parties for infringement or conferring any right to bring or
prosecute actions or suits against third parties for infringement.

 

12.6.        Infringement of Patents Held by
Others.  Nothing in
this Agreement will be construed as a warranty or representation by either
Party that any Proprietary Technology that the other Party may use for any
product or services anywhere in the world will be free from infringement of any
patent or other similar right of any third party.  Neither Party will be required otherwise to
protect, indemnify or save harmless the other Party against, or be liable to
the other Party for, any liabilities, losses, expenses or damages that may be
suffered or incurred by the other Party as a result of such infringement or
allegation thereof by any third party. 
Notwithstanding the foregoing, both Parties will cooperate with and
provide reasonable assistance to each other in the defense of any claim or suit
alleging such infringement.

 

12.7.        Product Liability.  Neither Party will, by reason of being a
Party to this Agreement, bear any responsibility or liability with respect to
any claims or suits against the other Party by third parties, nor will either
Party be under any obligation, by reason of being a Party to this Agreement, to
indemnify or hold harmless the other Party for any liabilities, losses,
expenses or damages incurred or suffered by the other Party resulting from, or
caused by, any defect or alleged defect of any products or services in which
Proprietary Technology of such Party has been utilized or applied.

 

12.8.        Liability to or for Employees.  Neither Party will be responsible for death,
damage, injury or loss suffered or incurred during visits to its plants or
other facilities by any engineer, technician or other personnel in the employ
of the other Party dispatched pursuant to this Agreement, except for death,
damage, injury or loss resulting from the willful or grossly negligent act or
omission of such Party, its agent or employees. 
Further, neither Party will be responsible for any costs, expenses or
damages suffered or incurred by the other Party, or any claim, judgment or
award against such other Party, or the defense thereof, arising out of any
actions, assistance or services of its employees under this Agreement, unless
resulting from its own willful or grossly negligent act.

 

12.9.        Disclaimer of Warranties.  The Parties intend to submit any System
developed pursuant to this Agreement to the United States Food and Drug
Administration and analogous regulatory authorities in the Territory outside of
the United States for regulatory approval. 
NOTWITHSTANDING THE FOREGOING, NEITHER PARTY WARRANTS THAT ITS EFFORTS
TO COMMERCIALIZE PRODUCTS OR SYSTEMS WILL RESULT IN REGULATORY APPROVAL OF SUCH
PRODUCTS OR SYSTEMS.  EXCEPT AS OTHERWISE
EXPRESSLY STATED IN THIS AGREEMENT, EACH PARTY HEREBY DISCLAIMS ANY EXPRESS OR
IMPLIED WARRANTY AS TO ANY PRODUCT OR 

 

13

 

SYSTEM SOLD OR PLACED IN COMMERCE BY OR ON ITS
BEHALF OR ON BEHALF OF ITS AFFILIATES OR SUBLICENSEES.

 

13.          Export Control.

 

13.1.        Restrictions on Exports.  In recognition of United States and other
export control laws, neither Party will knowingly export or re-export, directly
or indirectly, (a) any technical data (as defined in the U.S. Export
Administration Regulations) received from the other Party under this Agreement;
or (b) any immediate product, process, technical data or service directly
produced by the use of such technical data, to any destination to which such
export or re-export is restricted or prohibited by United States law, without
first obtaining prior authorization from the competent government authorities
as required by those laws.

 

13.2.        Export License.  Each Party further agrees to obtain, at its
own expense, any required export license or other documentation prior to its
export or re-export of any product or technical data acquired from the other
Party under this Agreement.  Accordingly,
the parties will not sell, export, re-export, transfer, divert or otherwise
dispose of any such product or technical data directly or indirectly to any person,
firm or entity, or country or countries, prohibited by the laws or regulations
of the United States or other applicable laws.

 

13.3.        This Article 13
will survive expiration or termination of this Agreement.

 

14.          General Terms.

 

14.1.        Force Majeure.  Neither Party will be liable for delays in
its performance or failure to perform in whole or in part the terms of this
Agreement, with the exception of payment obligations, caused by the occurrence
of any contingency beyond its control, including, without limitation, labor
dispute, strike, labor shortage, war or act of war, insurrection, sabotage,
riot or civil commotion, act of a public enemy, act of terrorism, epidemic,
accident, fire, storm, earthquake, explosion, flood, drought or other act of
God, act of any governmental authority, judicial action, transportation
embargo, or failure or delay in transportation, short or reduced supply of fuel
or raw material, technical failure where such Party has exercised ordinary care
in the prevention thereof, and any such delay or failure will not be considered
a breach of this Agreement.

 

14.2.        Notices.  Any notice, request, consent or other
communication required or permitted under this Agreement will be in writing and
will be deemed to have been duly given when received if personally delivered;
within five (5) calendar days after being sent by registered or
certified mail, return receipt requested, postage prepaid, to the Parties (and
to the Persons to whom copies must be sent as provided in this Agreement); or when
a confirmation of proper transmission has been printed if sent by fax or
electronic mail (but only if followed up by prompt confirmation by personal
delivery or mail in accordance with the foregoing clauses), at the respective
addresses of the Parties set forth below:

 

14

 

	
  If to Corgenix:

  	
  If to Elitech:

  
	
  Corgenix Medical Corporation

  	
  Financière
  Elitech SAS

  
	
  Attention: President

  	
  Attention:
  Pierre Debiais, President

  
	
  11575 Main Street, Suite 400

  	
  12-12bis,
  rue Jean Jaurès

  
	
  Broomfield, Colorado 80020

  	
  92800
  Puteaux, France

  
	
  Facsimile: (303) 453-8896

  	
  Facsimile:
  +33 (1) 41 45 07 19

  
	
  Email: dsimpson@corgenix.com

  	
  Email:
  p.debiais@elitechgroup.com

  
	
   

  	
   

  
	
  With copy to:

  	
  With copy to:

  
	
  Husch Blackwell Sanders LLP

  	
  Jackson Walker L.L.P.

  
	
  Attention: Robert P. Attai

  	
  Attention: L. Scott Brown

  
	
  1700 Lincoln Street, Suite #4700

  	
  901 Main Street, Suite 6000

  
	
  Denver, Colorado 80203

  	
  Dallas, Texas 75202

  
	
  Facsimile: (303) 749-7272

  	
  Facsimile: (214) 661-6869

  
	
  Email: robert.attai@huschblackwell.com

  	
  Email: sbrown@jw.com

  

 

Either Party may change its address by a
notice given to the other Party in the manner set forth above.

 

14.3.        Governing Law.  This Agreement and matters connected with the
performance of this Agreement will be construed, interpreted, applied and
governed in all respects in accordance with the laws of the State of Colorado,
without giving effect to the principles of conflict of laws thereof.

 

14.4.        Patent Filing.  Neither Party nor any Affiliate thereof will
be required by anything contained in this Agreement to file in any country an
application for patent on any invention, or to secure any patent, or once
having filed an application for patent or obtained a patent, to maintain the
patent application or patent in force.

 

14.5.        Dispute Resolution.  Any dispute arising in connection with the
validity, construction, application, operation or enforcement of the provisions
of this Agreement will be resolved by arbitration under the Rules of
Conciliation and Arbitration of the International Chamber of Commerce.  The arbitration will be held in Salt Lake
City, Utah, United States of America, before a sole arbitrator, and the
proceedings will be conducted in the English language.  Any award rendered in any such arbitration
proceeding will be final and binding on each of the Parties, and judgment may
be entered thereon in a court of competent jurisdiction.

 

14.6.        Language.  This Agreement is in the English language
only, which language will be controlling in all respects, and all versions of
this Agreement in any other language will be for accommodation only and will
not be binding upon the Parties.  All
communications to be made or given pursuant to this Agreement will be in the
English language.

 

14.7.        Assignment of Rights.  This Agreement and the licenses granted in
this Agreement will inure to the benefit of the Parties, and, insofar as is
expressly provided for in this Agreement, to Affiliates of the Parties.  Except as otherwise expressly permitted in
this

 

15

 

Agreement, none of Corgenix, Elitech or their
respective Affiliates will assign or transfer any rights, privileges or
obligations under this Agreement without the prior, written consent of the
other Party.  Any unauthorized assignment
or transfer of this Agreement or rights or obligations under this Agreement
will be void ab initio.

 

14.8.        Publicity.  Each Party will keep the terms of this
Agreement confidential and will not now or hereafter divulge the terms of this
Agreement or any part of such terms to any third party except (a) with the
prior written consent of the other Party; (b) to any governmental body
having jurisdiction to call for such disclosure; (c) as otherwise may be
required by law; or (d) to legal counsel representing either Party.  The Parties will mutually agree upon a joint
press release, to be issued following execution of this Agreement.

 

14.9.        Severability.  Should any clause, sentence or paragraph of
this Agreement judicially be declared to be invalid, unenforceable or void,
such decision will not have the effect of invalidating or voiding the remainder
of this Agreement.  The Parties hereby
agree that the remaining parts of the Agreement will have the same force and
effect as if such invalid part or parts had not been included in this
Agreement, and the Parties will enter into good faith negotiations with the
objective of restructuring the relationship between them in a manner that will
minimize the adverse effect of such declaration of invalidity or unenforceability.

 

14.10.      Entire Agreement; Amendment.  This Agreement and the Confidentiality
Agreement set forth the entire agreement and understanding between the Parties
as to the subject matter of this Agreement and the Confidentiality Agreement,
respectively, and merge all prior discussions between them, and neither of the
Parties will be bound by any modification of this Agreement or the
Confidentiality Agreement, other than as expressly provided in this Agreement
or as duly set forth on or subsequent to the date of this Agreement in writing
and signed by a duly authorized representative of the Party to be bound
thereby.

 

14.11.      No Waiver.  The failure of either Party to enforce at any
time any provision of this Agreement, or to exercise any election or option provided
in this Agreement, or to require timely performance by the other Party of any
of the provisions of this Agreement, will in no way be construed to be a waiver
of such provisions, nor in any way affect the validity of this Agreement or any
part of this Agreement, or the right of the affected Party thereafter to
enforce each and every such provision.

 

14.12.      Counterparts.  This Agreement may be executed simultaneously
in counterparts, each of which will be considered an original, but all of which
together will constitute one and the same instrument.  The Parties may sign this Agreement manually,
digitally or electronically, and they may deliver this Agreement by facsimile
transmission, electronic mail, or other electronic means.  Each Party agrees that the delivery of the
Agreement by facsimile, electronic mail or some other electronic means will
have the same force and effect as delivery of original signatures.

 

[Remainder of page intentionally
left blank.  Signature page follows.]

 

16

 

IN WITNESS WHEREOF, the duly authorized
officers of the respective Parties have executed and delivered this Agreement
as of the Effective Date.

 

	
   

  	
  FINANCIÈRE ELITECH SAS

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Name: Pierre Debiais

  
	
   

  	
  Title: President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CORGENIX MEDICAL CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Name: Douglass T. Simpson

  
	
   

  	
  Title: President and Chief Executive
  Officer

  

 

17

 

EXHIBIT A

 

CORGENIX COMPETING PRODUCTS

 

[See attached.]

 

 

Joint Product Development Agreement

 

EXHIBIT A

 

COMPETING PRODUCTS

 

	
  Company

  	
   

  	
  Analyte

  	
   

  	
  Platform

  	
   

  	
  Status

  
	
  Randox Laboratories Ltd

  	
   

  	
  AspirinWorks

  	
   

  	
  Immunoturbidimetry
  (low-mid volume)

  	
   

  	
  In development

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