Document:

Exhibit 10.38

 

TECHNICAL
ASSISTANCE AGREEMENT

 

THIS TECHNICAL ASSISTANCE AGREEMENT (this “Agreement”) is made and entered into as of this 7th
day August of 2003 (the “Effective Date) by and between MedicalCV, Inc.
(“MedicalCV”), a Minnesota corporation with a business address at 9725 South
Robert Trail, Inver Grove Heights, Minnesota 55077, agreeing to have Robert H.
Svenson, M.D.,Holland, Patent N.Y. (“Dr. Svenson”), serve as an independent
contractor for MedicalCV, with reference to the following:

 

Recitals

 

Dr. Svenson desires to perform, and MedicalCV
desires to have Dr. Svenson perform, consulting services as an independent
contractor to MedicalCV following the 120 day period as described in Secion 9.1
of the Technology Purchase Agreement to be signed within 30 days of the signing
date of this Agreement.

 

Agreement

 

NOW,
THEREFORE, the
parties agree as follows:

 

1.                                       Services and Relationship.  Dr. Svenson shall provide technical
assistance to MedicalCV relating to the Product and Technology, Intellectual Property,
Documentation and Know-how of MedicalCV (the “Services”).  The terms “Product”, “Technology,”
“Intellectual Property,” “Documentation” and “Know-how” shall have the meanings
set forth in the certain Technology Purchase Agreement to be signed herewith by
and between MedicalCV, LIGHTWAVE ABLATION SYSTEMS, INC.  and Dr. Svenson.  During the term of this Agreement, Dr. Svenson shall
be self-employed independent contractor with respect to performing services for
MedicalCV.  Nothing
in this Agreement shall be construed to create a joint venture, partnership,
agency, or other similar relationship of any type between Dr. Svenson and
MedicalCV.  Dr.
Svenson shall have no authority to bind MedicalCV or to contract in its name or
to create any liability for MedicalCV.

 

2.                                       Independent Contactor.  
Acting as an independent contractor, Dr. Svenson shall perform the
Services at MedicalCV’s request, and shall report to MedicalCV’s Chief
Executive Officer or an individual designated by MedicalCV’s Chief Executive Officer’s.  Dr. Svenson shall make himself available to
and provide the Services to MedicalCV on a schedule to be determined by
the parties on a periodic basis.

 

3.                                       Compensation.  For
the Services performed under this Agreement, as described above, Dr. Svenson
shall receive a consulting fee of $1,100 per day ($550 per one-half day).

 

4.                                       Taxes.  Dr.
Svenson shall be solely responsible for payment of all self-employment taxes
and/or assessments imposed on the payment of compensation for the performance
of consulting services including without limitation, any unemployment insurance
or tax, any federal, state and foreign income taxes, and any federal social
security payments (FICA) or Minnesota disability taxes (and shall provide
evidence to MedicalCV that such have been paid).

 

5.                                       Expenses.  Dr.
Svenson is not authorized to incur any expenses on behalf of MedicalCV without
prior written consent of any authorized agent of MedicalCV, and all statements
submitted by Dr. Svenson for services and expenses shall be in the form
prescribed by MedicalCV and shall be approved

 

 

by MedicalCV’s Chief Executive Officer or an individual designated by
MedicalCV’s Chief Executive Officer’s.

 

6.                                          Insurance.  Dr.
Svenson shall have in effect a comprehensive general liability insurance
covering Dr. Svenson and all aspects of Dr. Svenson’s provision of consulting
services, including, without limitation, if applicable, coverage for workers
compensation and Employers Liability in compliance with all applicable
statutory regulations.  Dr. Svenson
shall maintain such insurance with customary coverages in full force and effect
for so long as he provides consulting services to MedicalCV.

 

7.                                          Conduct.  Dr.
Svenson agrees to: (i) provide any documentation to MedicalCV and to execute
any documents when reasonably requested by MedicalCV which relate to Dr.
Svenson’s performance of services to MedicalCV during the term of this
Agreement or after; and (ii) honor all rules and regulations of MedicalCV and
refrain from committing any act or omission inconsistent with MedicalCV’s
standard of conduct.

 

8.                                       Non-Competition and Non-Disclosure.  Dr.
Svenson hereby acknowledges that he shall be bound by the obligations of
Non-Competition and Non-Disclosure set forth in Sections 9.2 and 9.3 of the
Technology Purchase Agreement.  The
Company possesses or will acquire Proprietary Information which is important to
its business.  For purposes of this
Agreement, “Proprietary Information” is information that was developed,
created, or discovered by the Company, or which became known by, or was
conveyed to the Company, which has commercial value in the Company’s
business.  “Proprietary Information”
includes, but is not limited to, trade secrets, copyrights, mask works, ideas, techniques,
know-how, inventions (whether patentable or not), and/or any other information
of any type relating to designs, configurations, toolings, documentation,
recorded data, schematics, source code, object code, works of authorship,
mechanisms, research, manufacture, improvements, assembly, installation,
marketing, forecasts, pricing, customers, and/or cost or other financial data
concerning any of the foregoing or the Company and its operations
generally.  I understand that my
employment creates a relationship of confidence and trust between me and the
Company with respect to Proprietary Information.

 

9.                                       No  Solicitation.  Dr. Svenson agrees, for the Term of this
Agreement, and for a period of eighteen (18) months thereafter, to refrain from
soliciting, employing, contracting or interfering with any MedicalCV’s
relationships with, or enticing away from MedicalCV, any employee, customer,
license, distributor, vendor or other source of supply of MedicalCV.

 

10.                                 No  Breach.  Dr. Svenson’s entering into this Agreement
and performing the obligations hereunder shall not result in any breach,
default or violation of any agreement, charter, instrument or other document to
which Dr. Svenson is a party of otherwise bound.

 

11.                                 Return  of
Materials.  If requested by MedicalCV during the Term of
this Agreement or thereafter, Dr. Svenson shall promptly return any and all
tangible MedicalCV property that has come into Dr. Svenson’s possession.  Upon termination of this Agreement for nay
reason, Dr. Svenson shall, within ten (10) days of such termination and in accordance
with any instructions provided by MedicalCV, return to MedicalCV and all
tangible MedicalCV property that has come into Dr. Svenson’s possession,
including all copies thereof and any notes, memoranda, and other documents or
other media relating thereto.  Dr.
Svenson shall not remove any MedicalCV property from MedicalCV premises without
written authorization from MedicalCV. 
The product of all work performed under this Agreement, including trade
secrets, confidential information, any apparatus, device, intellectual
property, discoveries, improvements, modifications, and enhancements,
techniques, concepts, data, technical information, specifications (including
engineering, testing and manufacturing specifications), diagrams, schematics,
charts and lists, drawings, lab books, blueprints, works of authorship, mask
works, information, materials,

 

 

tools, computer programs, technical publications, manuals, designs,
artwork, devices or models, shall be property of MedicalCV or its nominees, and
MedicalCV or its nominees shall have the sole right to use, sell, license,
publish or otherwise disseminate or transfer rights of such work products.

 

12.                                 Material Inside Information.  In
the course of performing the obligations hereunder, Dr. Svenson recognizes that
he may receive certain information that is considered material nonpublic
information within the meaning and intent of the Federal and State securities
laws, rules and regulations.  Dr.
Svenson hereby agrees not to engage in any securities trading transactions
based upon such information nor disclose any such information to any third
party that may or could engage in transactions involving the securities of
MedicalCV.

 

13.                                 Equitable  Relief.  Dr. Svenson agrees that any breach of the
provisions listed in paragraphs 10, 11 and 12 of this Agreement shall result in
irreparable harm to MedicalCV.  Dr.
Svenson therefore agrees that MedicalCV shall have the right to an injunction
or other equitable relief to enforce those provisions without prejudice to any
others rights and remedies MedicalCV may have.

 

14.                                 Inventions/Patents.

 

(a)                                  Dr. Sevenson hereby acknowledges that he
shall be bound by the obligations of Improvements set fouth in Section 9.4
and of the Technology Agreement pertaining to the Technology and the Restricted
Business. Dr. Svenson shall promptly disclose in writing to MedicalCV complete
information concerning each and every invention, discovery, improvement,
device, design, apparatus, practice, process, method or product, whether
patentable or not, made, developed, perfected, devised, conceived or first
reduced to practice by Dr. Svenson, either solely or in collaboration with
others, during the term of this Agreement and for a period of twelve (12)
months thereafter, whether or not during regular working hours, relating to the
business, products, practices or techniques of MedicalCV (hereinafter referred
to as “Developments”).  Dr. Svenson, to
the extent that he has the legal right to do so, hereby acknowledges that any
and all of such Developments are the property of MedicalCV and hereby assigns
and agrees to assign to MedicalCV any and all of Dr. Svenson’s right, title and
interest in and to any and all of such Developments pertaining to the
Technology.

 

(b)                                 The provisions of Section 14(a) shall not
apply to any Development meeting the following conditions:

 

(i)                                     such Development was developed entirely on
Dr. Svenson’s own time;

 

(ii)                                  such Development was made without the use of
any Company equipment, supplies, facility or trade secret information;

 

(iii)                               such Development does not relate directly to the Technology as defined
in the TPA; and

 

(iv)                              such Development does not result from any work performed by Dr. Svenson
for MedicalCV.

 

(c)                                  Upon request and without further compensation
therefor, but at no expense to Dr. Svenson, and whether during the term of this
Agreement or thereafter, Dr. Svenson shall do all lawful acts, including, but
not limited to, the execution of papers and lawful oaths and the giving of
testimony, that in the opinion of MedicalCV, its successors and assigns, may be
necessary or desirable in obtaining, sustaining, reissuing, extending and
enforcing United States and foreign letters patent, including, but not limited
to, design patents, on any and all of such Developments, and for perfecting,
affirming and

 

 

recording MedicalCV’s complete ownership and title thereto, and to
cooperate otherwise in all proceedings and matters relating thereto.

 

(d)                                 Dr. Svenson shall keep complete, accurate and
authentic accounts, notes, data and records of all Developments in the manner
and form requested by MedicalCV.  Such
accounts, notes, data and records shall be the property of MedicalCV, and, upon
its request, Dr. Svenson shall promptly surrender same to it or, if not
previously surrendered upon its request or otherwise, Dr. Svenson shall
surrender the same, and all copies thereof, to MedicalCV upon the termination
of this Agreement.

 

15.                                 Copyrights.  Dr.
Svenson shall, without further consideration, assign all right, title and
interest in any copyrightable material created in connection with this
Agreement to MedicalCV and shall assist MedicalCV and its nominees in every
proper way, entirely at MedicalCV’s expense, to secure, maintain and defend for
MedicalCV’s own benefit, copyrights and any extensions and renewals thereof on
any and all such material including translations thereof in any and all
countries, such material to be and to remain the property of MedicalCV whether
copyrighted or not.  All materials
produced by Dr. Svenson under this Agreement shall be considered work made for
hire.

 

16.                                 Prevention  of
Damage.  Dr. Svenson further agrees that as to
MedicalCV’s protection in connection with the Services, Dr. Svenson shall take
such steps as may be reasonably necessary to prevent personal injury or
property damage during any work hereunder that may be performed by any
employees, agents, or subcontractors of Dr. Svenson at the location and take
all reasonable and necessary actions to ensure that no governmental agency or
law, rule or ordinance has been or may be violated in either the manufacture or
sale of products or the performance of services covered by this Agreement and
shall defend and hold MedicalCV harmless from loss, cost or damages as a result
of any such actual or alleged violation.

 

17.                                 Indemnity.  Dr.
Svenson shall indemnify and hold harmless MedicalCV from and against:

 

(a)                                  any and all claims, losses, liability,
damages (including legal fees and costs), diminution in value and the like
arising from any breach or non-fulfillment of Dr. Svenson’s covenants in this
Agreement; and

 

(b)                                 any and all loss, liability, and damages
arising from or caused directly or indirectly by any act or omission of Dr.
Svenson and/or any agents, employees or subcontractors of Dr. Svenson.

 

18.                                 Term; Termination.  This
Agreement shall continue for one (1) year and thereafter shall continue on a
month-to-month basis (the “Term”). 
MedicalCV may terminate this Agreement immediately (i) if MedicalCV
shall determine not to pursue commercialization of the Product.  Notwithstanding the foregoing, this
Agreement automatically shall terminate upon termination of the Technology
Purchase Agreement, subject to the survival of certain provisions as set forth
in Section 28 below.

 

19.                                 Controlling
Law.  This Agreement is made under and shall be
construed according to the laws of the State of Minnesota applicable to any
contract entered into and wholly performed therein except for that body of laws
that relates to conflict of law principles.

 

20.                                 Personal
Jurisdiction.  In any judicial proceeding involving a
dispute arising from or with respect to this Agreement, Dr. Svenson agrees to
submit to personal jurisdiction of state and federal courts located in the
County of Hennepin, State of Minnesota.

 

 

21.                                 No Assignment.  Dr.
Svenson agrees not to assign or transfer any rights or obligations under this
Agreement or any interest herein, voluntarily or involuntarily, without the
prior written consent of MedicalCV, which consent may be withheld by MedicalCV
in the sole exercise of its discretion, and any such assignment shall be void
and of no effect.  MedicalCV shall be
free to assign or transfer any of its rights or obligations or any interest
herein without Dr. Svenson’s prior consent. 
This Agreement shall be binding upon and shall inure to the benefit of
the parties hereto and their respective permitted successors and assigns.

 

22.                                 Invoices/Notices/etc.  All
invoices, notices, requests, payments, demands or communications required
hereunder shall be in writing and delivered personally or sent by certified
mail, return receipt requested, or by an overnight courier service having a
reputation for dependability (as of the Effective Date) to the parties at the
following addresses:

 

	
  For Dr. Svenson:

  	
  For MedicalCV:

  
	
   

  	
   

  
	
  Holland Patent, NY

  	
  Attn:  Chief Executive Officer

  
	
   

  	
  9725 South Robert Trail

  
	
   

  	
  Inver Grove Heights,
  Minnesota 55077

  

 

23.                                 Severability.  If
any provision of this Agreement shall be unlawful, void, or for any reason
unenforceable, it shall be deemed severable from, and in no way shall affect
the validity or enforceability of, the remaining provisions of this Agreement.

 

24.                               Amendment. 
This Agreement can only be amended or modified in a written document
signed by Dr. Svenson and MedicalCV.

 

25.                               Legal Fees. 
Except as expressly provided herein to the contrary, each party shall be
responsible for its own legal fees and costs in connection with the
transactions described herein.

 

26.                               No Presumption.  No
presumption shall arise as a result of any party’s involvement in the drafting
of this Agreement.

 

27.                               No Waiver.  The
waiver of either party hereto of a breach of any provisions of this Agreement
by the other shall not operate or be construed as a waiver of any subsequent
breach of the same provision or any other provision of this Agreement.

 

28.                                 Survival.  Dr.
Svenson agrees that the provisions of Sections 3, 4, 6, 7, 8, 9, 10, 11, 12,
13, 14, 15, 16, 17, 18, 20, 21, 27, 28, and 29 
hereof shall survive termination of this Agreement and shall be fully
enforceable thereafter.

 

29.                                 Entire
Agreement.  This Agreement and the Assignment Agreement
contain the entire agreement with respect to the subject matter hereof and,
except as expressly provided to the contrary, supersedes all prior oral or
written agreements, communications and dealings between Dr. Svenson and
MedicalCV with respect to the subject matter hereof, all of which are hereby
merged into this Agreement.

 

 

IN WITNESS WHEREOF, the parties have executed this Agreement by
their duly authorized officers or agents on the date and year first above
written.

 

 

	
  MedicalCV,
  Inc.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Blair P. Mowery

  	
   

  	
  /s/ Robert H. Svenson, M.D.

  	
   

  
	
  By:  Blair P. Mowery

  	
  Robert H. Svenson, M.D.

  
	
  Its:  Chief Executive Officer

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Social Security NumberExhibit
10.39

 

TECHNICAL
ASSISTANCE AGREEMENT

 

THIS TECHNICAL ASSISTANCE AGREEMENT (this “Agreement”) is made and entered into as of this 7th
day August of 2003 (the “Effective Date) by and between MedicalCV, Inc.
(“MedicalCV”), a Minnesota corporation with a business address at 9725 South
Robert Trail, Inver Grove Heights, Minnesota 55077, agreeing to have Gregory
Brucker, (“Brucker”), serve as an independent contractor for MedicalCV, with
reference to the following:

 

Recitals

 

Brucker desires to perform, and MedicalCV desires to
have Brucker perform, consulting services as an independent contractor to
MedicalCV following the 120 day period as described in Secion 9.1 of the
Technology Purchase Agreement to be signed within 30 days of the signing date
of this Agreement.

 

Agreement

 

NOW,
THEREFORE, the
parties agree as follows:

 

1.                                       Services and Relationship.  Brucker shall provide technical assistance to
MedicalCV relating to the Product and Technology, Intellectual Property,
Documentation and Know-how of MedicalCV (the “Services”).  The terms “Product”, “Technology,”
“Intellectual Property,” “Documentation” and “Know-how” shall have the meanings
set forth in the certain Technology Purchase Agreement to be signed within 30
days of this Agreement herewith by and between MedicalCV, Inc.,  LIGHTWAVE ABLATION SYSTEMS, INC. and
Brucker.  During the term of this Agreement,
Brucker shall be a self-employed independent contractor with respect to
performing services for MedicalCV.  Nothing
in this Agreement shall be construed to create a joint venture, partnership,
agency, or other similar relationship of any type between Brucker and
MedicalCV.  Brucker
shall have no authority to bind MedicalCV or to contract in its name or to
create any liability for MedicalCV.

 

2.                                       Independent Contactor.  
Acting as an independent contractor, Brucker shall perform the Services
at MedicalCV’s request, and shall report to MedicalCV’s Chief Executive Officer
or an individual designated by MedicalCV’s Chief Executive Officer.  Brucker shall make himself available to and
provide the Services to MedicalCV on a schedule to be determined by the
parties on a periodic basis.

 

3.                                       Compensation.  For
the Services performed under this Agreement, as described above, Brucker shall
receive a consulting fee of $ 900 per day ($450 per one-half day).

 

4.                                       Taxes. 
Brucker shall be solely responsible for payment of all self-employment
taxes and/or assessments imposed on the payment of compensation for the
performance of consulting services including without limitation, any
unemployment insurance or tax, any federal, state and foreign income taxes, and
any federal social security payments (FICA) or Minnesota disability taxes (and
shall provide evidence to MedicalCV that such have been paid).

 

5.                                       Expenses. 
Brucker is not authorized to incur any expenses on behalf of MedicalCV
without prior written consent of any authorized agent of MedicalCV, and all
statements submitted by Brucker for services and expenses shall be in the form
prescribed by MedicalCV and shall be approved by MedicalCV’s Chief Executive
Officer or an individual designated by MedicalCV’s Chief Executive Officer’s.

 

 

6.                                       Insurance. 
Brucker shall have in effect a comprehensive general liability insurance
covering Brucker and all aspects of Brucker’s provision of consulting services,
including, without limitation, if applicable, coverage for workers compensation
and Employers Liability in compliance with all applicable statutory
regulations.  Brucker shall maintain
such insurance with customary coverages in full force and effect for so long as
he provides consulting services to MedicalCV.

 

7.                                       Conduct. 
Brucker agrees to: (i) provide any documentation to MedicalCV and to
execute any documents when reasonably requested by MedicalCV which relate to
Brucker’s performance of services to MedicalCV during the term of this
Agreement or after; and (ii) honor all rules and regulations of MedicalCV and
refrain from committing any act or omission inconsistent with MedicalCV’s
standard of conduct.

 

8.                                       Non-Competition and Non-Disclosure. 
Brucker hereby acknowledges that he shall be bound by the obligations of
Non-Competition and Non-Disclosure set forth in Sections 9.2 and 9.3 of the
Technology Purchase Agreement. The Company possesses or will acquire
Proprietary Information which is important to its business.  For purposes of this Agreement, “Proprietary
Information” is information that was developed, created, or discovered by the
Company, or which became known by, or was conveyed to the Company, which has
commercial value in the Company’s business. 
“Proprietary Information” includes, but is not limited to, trade
secrets, copyrights, mask works, ideas, techniques, know-how, inventions
(whether patentable or not), and/or any other information of any type relating
to designs, configurations, toolings, documentation, recorded data, schematics,
source code, object code, works of authorship, mechanisms, research,
manufacture, improvements, assembly, installation, marketing, forecasts,
pricing, customers, and/or cost or other financial data concerning any of the
foregoing or the Company and its operations generally.  I understand that my employment creates a
relationship of confidence and trust between me and the Company with respect to
Proprietary Information.

 

9.                                       No  Solicitation.  Brucker agrees, for the Term of this
Agreement, and for a period of eighteen (18) months thereafter, to refrain from
soliciting, employing, contracting or interfering with any MedicalCV’s
relationships with, or enticing away from MedicalCV, any employee, customer,
license, distributor, vendor or other source of supply of MedicalCV.

 

10.                                 No  Breach.  Brucker’s entering into this Agreement and
performing the obligations hereunder shall not result in any breach, default or
violation of any agreement, charter, instrument or other document to which
Brucker is a party of otherwise bound.

 

11.                                 Return  of
Materials.  If requested by MedicalCV during the Term of
this Agreement or thereafter, Brucker shall promptly return any and all
tangible MedicalCV property that has come into Brucker’s possession.  Upon termination of this Agreement for nay
reason, Brucker shall, within ten (10) days of such termination and in
accordance with any instructions provided by MedicalCV, return to MedicalCV and
all tangible MedicalCV property that has come into Brucker’s possession,
including all copies thereof and any notes, memoranda, and other documents or
other media relating thereto.  Brucker
shall not remove any MedicalCV property from MedicalCV premises without written
authorization from MedicalCV.  The
product of all work performed under this Agreement, including trade secrets,
confidential information, any apparatus, device, intellectual property,
discoveries, improvements, modifications, and enhancements, techniques, concepts,
data, technical information, specifications (including engineering, testing and
manufacturing specifications), diagrams, schematics, charts and lists,
drawings, lab books, blueprints, works of authorship, mask works, information,
materials, tools, computer programs, technical publications, manuals, designs,
artwork, devices or models, shall be property of MedicalCV or its nominees, and
MedicalCV or its nominees shall have the sole right to use, sell, license,
publish or otherwise disseminate or transfer rights of such work products.

 

 

12.                                 Material Inside Information.  In
the course of performing the obligations hereunder, Brucker recognizes that he
may receive certain information that is considered material nonpublic
information within the meaning and intent of the Federal and State securities
laws, rules and regulations.  Brucker
hereby agrees not to engage in any securities trading transactions based upon
such information nor disclose any such information to any third party that may
or could engage in transactions involving the securities of MedicalCV.

 

13.                                 Equitable  Relief.  Brucker agrees that any breach of the
provisions listed in paragraphs 10, 11 and 12 of this Agreement shall result in
irreparable harm to MedicalCV.  Brucker
therefore agrees that MedicalCV shall have the right to an injunction or other
equitable relief to enforce those provisions without prejudice to any others
rights and remedies MedicalCV may have.

 

14.                                 Inventions/Patents.

 

(a)                                  Brucker hereby acknowledges that he shall be
bound by the obligations of Improvements set fouth in Section 9.4 and of
the Technology Agreement pertaining to the Technology and the Restricted
Business. Brucker shall promptly disclose in writing to MedicalCV complete
information concerning each and every invention, discovery, improvement,
device, design, apparatus, practice, process, method or product, whether
patentable or not, made, developed, perfected, devised, conceived or first
reduced to practice by Brucker, either solely or in collaboration with others,
during the term of this Agreement which pertain to the Restricted Business and
for a period of twelve (12) months thereafter, whether or not during regular
working hours, relating to the business, products, practices or techniques of
MedicalCV (hereinafter referred to as “Developments”).  Brucker, to the extent that he has the legal
right to do so, hereby acknowledges that any and all of such Developments are
the property of MedicalCV and hereby assigns and agrees to assign to MedicalCV
any and all of Brucker’s right, title and interest in and to any and all of
such Developments pertaining to the Technology.

 

(b)                                 The provisions of Section 14(a) shall
not apply to any Development meeting the following conditions:

 

(i)                                     such Development was developed entirely on
Brucker’s own time;

 

(ii)                                  such Development was made without the use of
any Company equipment, supplies, facility or trade secret information;

 

(iii)                               such Development does not relate directly to the Technology as defined
in the TPA; and

 

(iv)                              such Development does not result from any work performed by Brucker for
MedicalCV.

 

(c)                                  Upon request and without further compensation
therefor, but at no expense to Brucker, and whether during the term of this
Agreement or thereafter, Brucker shall do all lawful acts, including, but not
limited to, the execution of papers and lawful oaths and the giving of
testimony, that in the opinion of MedicalCV, its successors and assigns, may be
necessary or desirable in obtaining, sustaining, reissuing, extending and enforcing
United States and foreign letters patent, including, but not limited to, design
patents, on any and all of such Developments, and for perfecting, affirming and
recording MedicalCV’s complete ownership and title thereto, and to cooperate
otherwise in all proceedings and matters relating thereto.

 

 

(d)                                 Brucker shall keep complete, accurate and
authentic accounts, notes, data and records of all Developments in the manner
and form requested by MedicalCV.  Such
accounts, notes, data and records shall be the property of MedicalCV, and, upon
its request, Brucker shall promptly surrender same to it or, if not previously
surrendered upon its request or otherwise, Brucker shall surrender the same,
and all copies thereof, to MedicalCV upon the termination of this Agreement.

 

15.                                 Copyrights. 
Brucker shall, without further consideration, assign all right, title
and interest in any copyrightable material created in connection with this
Agreement to MedicalCV and shall assist MedicalCV and its nominees in every
proper way, entirely at MedicalCV’s expense, to secure, maintain and defend for
MedicalCV’s own benefit, copyrights and any extensions and renewals thereof on
any and all such material including translations thereof in any and all
countries, such material to be and to remain the property of MedicalCV whether
copyrighted or not.  All materials
produced by Brucker under this Agreement shall be considered work made for
hire.

 

16.                                 Prevention  of
Damage.  Brucker further agrees that as to
MedicalCV’s protection in connection with the Services, Brucker shall take such
steps as may be reasonably necessary to prevent personal injury or property
damage during any work hereunder that may be performed by any employees,
agents, or subcontractors of Brucker at the location and take all reasonable
and necessary actions to ensure that no governmental agency or law, rule or
ordinance has been or may be violated in either the manufacture or sale of
products or the performance of services covered by this Agreement and shall
defend and hold MedicalCV harmless from loss, cost or damages as a result of
any such actual or alleged violation.

 

17.                                 Indemnity. 
Brucker shall indemnify and hold harmless MedicalCV from and against:

 

(e)                                  any and all claims, losses, liability,
damages (including legal fees and costs), diminution in value and the like
arising from any breach or non-fulfillment of Brucker’s covenants in this
Agreement; and

 

(f)                                    any and all loss, liability, and damages
arising from or caused directly or indirectly by any act or omission of Brucker
and/or any agents, employees or subcontractors of Brucker.

 

18.                                 Term; Termination.  This
Agreement shall continue for one (1) year and thereafter shall continue on a
month-to-month basis (the “Term”). 
MedicalCV may terminate this Agreement immediately (i) if MedicalCV
shall determine not to pursue commercialization of the Product.  Notwithstanding the foregoing, this
Agreement automatically shall terminate upon termination of the Technology
Purchase Agreement, subject to the survival of certain provisions as set forth
in Section 28 below.

 

19.                                 Controlling Law.  This Agreement is made under
and shall be construed according to the laws of the State of Minnesota
applicable to any contract entered into and wholly performed therein except for
that body of laws that relates to conflict of law principles.

 

20.                                 Personal Jurisdiction.  In any judicial proceeding
involving a dispute arising from or with respect to this Agreement, Brucker
agrees to submit to personal jurisdiction of state and federal courts located
in the County of Hennepin, State of Minnesota.

 

21.                                 No Assignment.  Brucker agrees not to assign or transfer any
rights or obligations under this Agreement or any interest herein, voluntarily
or involuntarily, without the prior written consent of MedicalCV, which consent
may be withheld by MedicalCV in the sole exercise of its discretion, and any
such assignment shall be void and of no effect.  MedicalCV shall be free to assign or transfer any of its

 

 

rights or obligations or any interest herein without Brucker’s prior
consent.  This Agreement shall be
binding upon and shall inure to the benefit of the parties hereto and their
respective permitted successors and assigns.

 

22.                                 Invoices/Notices/etc.  All invoices, notices,
requests, payments, demands or communications required hereunder shall be in
writing and delivered personally or sent by certified mail, return receipt
requested, or by an overnight courier service having a reputation for
dependability (as of the Effective Date) to the parties at the following
addresses:

 

	
  For Brucker:

  	
   

  	
  For MedicalCV:

  
	
   

  	
   

  	
   

  
	
  5029 Garfield Ave.So.

  	
  Attn:

  	
  Chief Executive Officer

  
	
  Mpls, MN 55419

  	
   

  	
  9725 South Robert Trail

  
	
   

  	
   

  	
  Inver Grove Heights,
  Minnesota 55077

  

 

23.                                 Severability.  If any provision of this Agreement shall be
unlawful, void, or for any reason unenforceable, it shall be deemed severable
from, and in no way shall affect the validity or enforceability of, the
remaining provisions of this Agreement.

 

24.                                 Amendment.  This Agreement can only be amended or modified
in a written document signed by Brucker and MedicalCV.

 

25.                                 Legal Fees.  Except as expressly provided herein to the
contrary, each party shall be responsible for its own legal fees and costs in
connection with the transactions described herein.

 

26.                                 No Presumption.  No presumption shall arise as
a result of any party’s involvement in the drafting of this Agreement.

 

27.                                 No Waiver.  The waiver of either party hereto of a
breach of any provisions of this Agreement by the other shall not operate or be
construed as a waiver of any subsequent breach of the same provision or any
other provision of this Agreement.

 

28.                                 Survival.  Brucker agrees that the provisions of
Sections 3, 4, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 20, 21, 27, 28,
and 29 hereof shall survive termination of this Agreement and shall be fully
enforceable thereafter.

 

29.                                 Entire Agreement.  This Agreement and the
Assignment Agreement contain the entire agreement with respect to the subject
matter hereof and, except as expressly provided to the contrary, supersedes all
prior oral or written agreements, communications and dealings between Brucker
and MedicalCV with respect to the subject matter hereof, all of which are
hereby merged into this Agreement.

 

 

IN WITNESS WHEREOF, the parties have executed this Agreement by
their duly authorized officers or agents on the date and year first above
written.

 

 

	
   

  	
  MedicalCV,
  Inc.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ Blair P. Mowery

  	
   

  	
  /s/ Gregory Brucker

  	
   

  
	
   

  	
  By:  Blair P. Mowery

  	
  Gregory Brucker

  
	
   

  	
  Its:  Chief Executive Officer

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Social Security Number

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