Document:

exv10w14

 

EXHIBIT-10.14

PATENT AND TRADEMARK SECURITY AGREEMENT

          This Agreement, dated as of December 22, 2005, is made by and between GREAT LAKES ENERGY
TECHNOLOGIES, LLC, a Wisconsin limited liability company, having a business location at the address
set forth below under its signature (the “Debtor”), and WELLS FARGO BANK, NATIONAL ASSOCIATION,
acting through its Wells Fargo Business Credit operating division, having a business location at
the address set forth below under its signature (the “Secured Party”).

RECITALS:

          The Debtor and Orion Energy Systems, Ltd., a Wisconsin corporation (collectively, the
“Borrower”), and the Secured Party are parties to a Credit and Security Agreement of even date
herewith (as the same may hereafter be amended, supplemented or restated from time to time, the
“Credit Agreement”) setting forth the terms on which the Secured Party may now or hereafter extend
credit to or for the account of the Borrower.

          As a condition to extending credit to or for the account of the Borrower, the Secured Party
has required the execution and delivery of this Agreement by the Debtor.

          ACCORDINGLY, in consideration of the mutual covenants contained in the Loan Documents and
herein, the parties hereby agree as follows:

     1. Definitions All terms defined in the Recitals hereto or in the Credit Agreement
that are not otherwise defined herein shall have the meanings given to them therein. In addition,
the following terms have the meanings set forth below:

          “Obligations” means each and every debt, liability and obligation of every type and
description arising under or in connection with any Loan Document (as defined in the Credit
Agreement) which the Borrower may now or at any time hereafter owe to the Secured Party, whether
such debt, liability or obligation now exists or is hereafter created or incurred and whether it is
or may be direct or indirect, due or to become due, absolute or contingent, primary or secondary,
liquidated or unliquidated, independent, joint, several or joint and several, and including
specifically, but not limited to, the Obligations (as defined in the Credit Agreement).

          “Patents” means all of the Debtor’s right, title and interest in and to patents or
applications for patents, fees or royalties with respect to each, and including without limitation
the right to sue for past infringement and damages therefor, and licenses thereunder, all as
presently existing or hereafter arising or acquired, including without limitation the patents
listed on Exhibit A.

          “Security Interest” has the meaning given in Section 2.

          “Trademarks” means all of the Debtor’s right, title and interest in and to: (i) trademarks,
service marks, collective membership marks, registrations and applications for registration for
each, and the respective goodwill associated with each, (ii) licenses, fees or royalties with
respect to each, (iii) the right to sue for past, present and future infringement,

 

 

dilution and damages therefor, (iv) and licenses thereunder, all as presently existing or
hereafter arising or acquired, including, without limitation, the marks listed on Exhibit B.

     2. Security Interest. The Debtor hereby irrevocably pledges and assigns to, and
grants the Secured Party a security interest (the “Security Interest”), with power of sale to the
extent permitted by law, in the Patents and in the Trademarks to secure payment of the Obligations.
As set forth in the Credit Agreement, the Security Interest is coupled with a security interest in
substantially all of the personal property of the Debtor. This Agreement grants only the Security
Interest herein described, is not intended to and does not affect any present transfer of title of
any trademark registration or application and makes no assignment and grants no right to assign or
perform any other action with respect to any intent to use trademark application, unless such
action is permitted under 15 U.S.C. §1060.

     3. Representations, Warranties and Agreements. The Debtor represents, warrants and
agrees as follows:

     (a) Existence; Authority. The Debtor is a limited liability company duly organized,
validly existing and in good standing under the laws of its state of                      , and this
Agreement has been duly and validly authorized by all necessary [limited liability company]
action on the part of the Debtor.

     (b) Patents. Exhibit A accurately lists all Patents owned or controlled by the Debtor
as of the date hereof, or to which the Debtor has a right as of the date hereof to have
assigned to it, and accurately reflects the existence and status of applications and letters
patent pertaining to the Patents as of the date hereof. If after the date hereof, the
Debtor owns, controls or has a right to have assigned to it any Patents not listed on
Exhibit A, or if Exhibit A ceases to accurately reflect the existence and status of
applications and letters patent pertaining to the Patents, then the Debtor shall within
sixty (60) days provide written notice to the Secured Party with a replacement Exhibit A,
which upon acceptance by the Secured Party shall become part of this Agreement.

     (c) Trademarks. Exhibit B accurately lists all Trademarks owned or controlled by the
Debtor as of the date hereof and accurately reflects the existence and status of Trademarks
and all applications and registrations pertaining thereto as of the date hereof;
provided, however, that Exhibit B need not list common law marks (i.e.,
Trademarks for which there are no applications or registrations) which are not material to
the Debtor’s or any Affiliate’s business(es). If after the date hereof, the Debtor owns or
controls any Trademarks not listed on Exhibit B (other than common law marks which are not
material to the Debtor’s business), or if Exhibit B ceases to accurately reflect the
existence and status of applications and registrations pertaining to the Trademarks, then
the Debtor shall promptly provide written notice to the Secured Party with a replacement
Exhibit B, which upon acceptance by the Secured Party shall become part of this Agreement.

     (d) Affiliates. As of the date hereof, no Affiliate owns, controls, or has a right to
have assigned to it any items that would, if such item were owned by the Debtor, constitute
Patents or Trademarks. If after the date hereof any Affiliate owns, controls, or

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has a right to have assigned to it any such items, then the Debtor shall promptly
either: (i) cause such Affiliate to assign all of its rights in such item(s) to the Debtor;
or (ii) notify the Secured Party of such item(s) and cause such Affiliate to execute and
deliver to the Secured Party a patent and trademark security agreement substantially in the
form of this Agreement.

     (e) Title. The Debtor has absolute title to each Patent and each Trademark listed on
Exhibits A and B, free and clear of all Liens except Permitted Liens. The Debtor (i) will
have, at the time the Debtor acquires any rights in Patents or Trademarks hereafter arising,
absolute title to each such Patent or Trademark free and clear of all Liens except Permitted
Liens, and (ii) will keep all Patents and Trademarks free and clear of all Liens except
Permitted Liens.

     (f) No Sale. Except as permitted in the Credit Agreement, the Debtor will not assign,
transfer, encumber or otherwise dispose of the Patents or Trademarks, or any interest
therein, without the Secured Party’s prior written consent.

     (g) Defense. The Debtor will at its own expense and using commercially reasonable
efforts, protect and defend the Patents and Trademarks against all claims or demands of all
Persons other than those holding Permitted Liens.

     (h) Maintenance. The Debtor will at its own expense maintain the Patents and the
Trademarks to the extent reasonably advisable in its business including, but not limited to,
filing all applications to obtain letters patent or trademark registrations and all
affidavits, maintenance fees, annuities, and renewals possible with respect to letters
patent, trademark registrations and applications therefor. The Debtor covenants that it
will not abandon nor fail to pay any maintenance fee or annuity due and payable on any
Patent or Trademark, nor fail to file any required affidavit or renewal in support thereof,
without first providing the Secured Party: (i) sufficient written notice, of at least thirty
(30) days, to allow the Secured Party to timely pay any such maintenance fees or annuities
which may become due on any Patents or Trademarks, or to file any affidavit or renewal with
respect thereto, and (ii) a separate written power of attorney or other authorization to pay
such maintenance fees or annuities, or to file such affidavit or renewal, should such be
necessary or desirable.

     (i) Secured Party’s Right to Take Action. If the Debtor fails to perform or observe
any of its covenants or agreements set forth in this Section 3, and if such failure
continues for a period of ten (10) calendar days after the Secured Party gives the Debtor
written notice thereof (or, in the case of the agreements contained in subsection (h),
immediately upon the occurrence of such failure, without notice or lapse of time), or if the
Debtor notifies the Secured Party that it intends to abandon a Patent or Trademark, the
Secured Party may (but need not) perform or observe such covenant or agreement or take steps
to prevent such intended abandonment on behalf and in the name, place and stead of the
Debtor (or, at the Secured Party’s option, in the Secured Party’s own name) and may (but
need not) take any and all other actions which the Secured Party may reasonably deem
necessary to cure or correct such failure or prevent such intended abandonment.

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     (j) Costs and Expenses. Except to the extent that the effect of such payment would be
to render any loan or forbearance of money usurious or otherwise illegal under any
applicable law, the Debtor shall pay the Secured Party on demand the amount of all moneys
expended and all costs and expenses (including reasonable attorneys’ fees and disbursements)
incurred by the Secured Party in connection with or as a result of the Secured Party’s
taking action under subsection (i) or exercising its rights under Section 6, together with
interest thereon from the date expended or incurred by the Secured Party at the Default
Rate.

     (k) Power of Attorney. To facilitate the Secured Party’s taking action under
subsection (i) and exercising its rights under Section 6, the Debtor hereby irrevocably
appoints (which appointment is coupled with an interest) the Secured Party, or its delegate,
as the attorney-in-fact of the Debtor with the right (but not the duty) from time to time to
create, prepare, complete, execute, deliver, endorse or file, in the name and on behalf of
the Debtor, any and all instruments, documents, applications, financing statements, and
other agreements and writings required to be obtained, executed, delivered or endorsed by
the Debtor under this Section 3, or, necessary for the Secured Party, after an Event of
Default, to enforce or use the Patents or Trademarks or to grant or issue any exclusive or
non-exclusive license under the Patents or Trademarks to any third party, or to sell,
assign, transfer, pledge, encumber or otherwise transfer title in or dispose of the Patents
or Trademarks to any third party. The Debtor hereby ratifies all that such attorney shall
lawfully do or cause to be done by virtue hereof. The power of attorney granted herein
shall terminate upon the termination of the Credit Agreement as provided therein and the
payment and performance of all Obligations.

     4. Debtor’s Use of the Patents and Trademarks. The Debtor shall be permitted to
control and manage the Patents and Trademarks, including the right to exclude others from making,
using or selling items covered by the Patents and Trademarks and any licenses thereunder, in the
same manner and with the same effect as if this Agreement had not been entered into, so long as no
Event of Default occurs and remains uncured.

     5. Events of Default. Each of the following occurrences shall constitute an event of
default under this Agreement (herein called “Event of Default”): (a) an Event of Default, as
defined in the Credit Agreement, shall occur; or (b) the Debtor shall fail promptly to observe or
perform any covenant or agreement herein binding on it; or (c) any of the representations or
warranties contained in Section 3 shall prove to have been incorrect in any material respect when
made.

     6. Remedies. Upon the occurrence of an Event of Default and at any time thereafter,
the Secured Party may, at its option, take any or all of the following actions:

     (a) The Secured Party may exercise any or all remedies available under the Credit
Agreement.

     (b) The Secured Party may sell, assign, transfer, pledge, encumber or otherwise dispose
of the Patents and Trademarks.

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     (c) The Secured Party may enforce the Patents and Trademarks and any licenses
thereunder, and if Secured Party shall commence any suit for such enforcement, the Debtor
shall, at the request of Secured Party, do any and all lawful acts and execute any and all
proper documents required by Secured Party in aid of such enforcement.

     7. Miscellaneous. This Agreement can be waived, modified, amended, terminated or
discharged, and the Security Interest can be released, only explicitly in a writing signed by the
Secured Party. A waiver signed by the Secured Party shall be effective only in the specific
instance and for the specific purpose given. Mere delay or failure to act shall not preclude the
exercise or enforcement of any of the Secured Party’s rights or remedies. All rights and remedies
of the Secured Party shall be cumulative and may be exercised singularly or concurrently, at the
Secured Party’s option, and the exercise or enforcement of any one such right or remedy shall
neither be a condition to nor bar the exercise or enforcement of any other. All notices to be given
to Debtor under this Agreement shall be given in the manner and with the effect provided in the
Credit Agreement. The Secured Party shall not be obligated to preserve any rights the Debtor may
have against prior parties, to realize on the Patents and Trademarks at all or in any particular
manner or order, or to apply any cash proceeds of Patents and Trademarks in any particular order of
application. This Agreement shall be binding upon and inure to the benefit of the Debtor and the
Secured Party and their respective participants, successors and assigns and shall take effect when
signed by the Debtor and delivered to the Secured Party, and the Debtor waives notice of the
Secured Party’s acceptance hereof. The Secured Party may execute this Agreement if appropriate for
the purpose of filing, but the failure of the Secured Party to execute this Agreement shall not
affect or impair the validity or effectiveness of this Agreement. A carbon, photographic or other
reproduction of this Agreement or of any financing statement signed by the Debtor shall have the
same force and effect as the original for all purposes of a financing statement. This Agreement
shall be governed by the internal law of Wisconsin without regard to conflicts of law provisions.
If any provision or application of this Agreement is held unlawful or unenforceable in any respect,
such illegality or unenforceability shall not affect other provisions or applications which can be
given effect and this Agreement shall be construed as if the unlawful or unenforceable provision or
application had never been contained herein or prescribed hereby. All representations and
warranties contained in this Agreement shall survive the execution, delivery and performance of
this Agreement and the creation and payment of the Obligations.

     THE PARTIES WAIVE ANY RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING BASED ON OR
PERTAINING TO THIS AGREEMENT.

     IN WITNESS WHEREOF, the parties have executed this Patent and Trademark Security Agreement as
of the date written above.

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	WELLS FARGO BANK, NATIONAL

	 	GREAT LAKES ENERGY TECHNOLOGIES, LLC
	ASSOCIATION, acting through its WELLS
	 	 
	FARGO BUSINESS CREDIT operating
	 	 
	division
	 	 
	 
	 	 
	By: /s/ Melissa L. Dreifuerst

	 	By: /s/ Neal R. Verfuerth
	Its: Vice President

	 	Its: President
	 
	 	 
	Wells Fargo Business Credit

	 	Great Lakes Energy Technologies, LLC
	100 East Wisconsin Avenue

	 	2001 Mirro Drive
	MAC N9811-143

	 	Manitowoc, Wisconsin 54220
	Milwaukee, Wisconsin 53202
	 	 

	 	 	 
	STATE OF WISCONSIN

	 	)
	 

	 	)
	COUNTY OF MILWAUKEE

	 	)

          The foregoing instrument was acknowledged before me this 22nd day of December, 2005, by Neal
R. Verfuerth, the President of Great Lakes Energy Technologies, LLC, a Wisconsin limited liability
company, on behalf of the limited liability company.

/s/ Eric von Estorff

Notary Public

	 	 	 
	STATE OF WISCONSIN

	 	)
	 

	 	)
	COUNTY OF MILWAUKEE

	 	)

          The foregoing instrument was acknowledged before me this 22nd day of December, 2005, by
Melissa L. Dreifuerst, a Vice President of Wells Fargo Bank, National Association, acting through
its Wells Fargo Business Credit operating division, on behalf of the bank.

/s/ Eric von Estorff

Notary Public

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EXHIBIT A

UNITED STATES ISSUED PATENTS

NONE

FOREIGN ISSUED PATENTS

NONE

 

 

EXHIBIT B

UNITED STATE TRADEMARKS

	 	 	 	 	 	 	 	 	 
	 	 	 	 	FILING	 	 	 	 
	 	 	SERIAL	 	DATE/REG.	 	 	 	 
	MARK	 	NO./REG. NO.	 	DATE	 	STATUS	 	OWNER
	FAST LITE
	 	78/543,917	 	01/07/2005	 	Pending	 	Great Lakes
	 
	 	 	 	 	 	 	 	Energy
	 
	 	 	 	 	 	 	 	Technologies,
	 
	 	 	 	 	 	 	 	LLC

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FOREIGN TRADEMARKS

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	FILING	 	 	 	 
	 	 	 	 	SERIAL	 	DATE/REG.	 	 	 	 
	MARK	 	COUNTRY	 	NO./REG.NO.	 	DATE	 	STATUS	 	OWNER
	FAST LITE
	 	Canada	 	1243,175	 	01/11/2005	 	Pending	 	Great Lakes
	 
	 	 	 	 	 	 	 	 	 	Energy
	 
	 	 	 	 	 	 	 	 	 	Technologies,
	 
	 	 	 	 	 	 	 	 	 	LLC

3exv10w45

 

Exhibit
10.45

SETTLEMENT AGREEMENT AND RELEASE

     This Settlement Agreement and Release (“Agreement”) is entered into by and among Synapse Fund
I, LLC and Synapse Fund II, LLC (collectively, “Synapse”), Go Industries, Inc., Kenneth A. Barnett,
Marion Bates, Philip V. Bates, Kate Hutchins Bates, Belinfer Corporation, Leon A. Chiu, Colunga
Living Trust, Jack Gregory, Daniel G. Hall, Rudy Kranys, Sherry Kranys, Philip J. Monks, Susan
Monks, Irwin D. Novak, Jessica K. Novak, Judi M. Novak, Ryan T. Powell, Taylor B. Powell, Martin
Terry Rothman, Bruce E. Stimson, Nancy Stimson, Gary Becker, Robert C. Strauss Grantor Retained
Interest Trust, Rena White Connor, and Mark H. Wholey Family LTD. Partnership (collectively with
Synapse, “Plaintiffs”), Sutura, Inc. (“Sutura”), Anthony A. Nobles, Rhonda Nobles, and Egbert
Ratering (collectively with Plaintiffs and Sutura, the “Parties”).

RECITALS

     A. On June 30, 2005, Plaintiffs filed their Complaint for Involuntary Dissolution; Removal of
Directors, and Injunctive Relief against Anthony A. Nobles, Egbert Ratering, and Sutura in the case
entitled Go Industries, Inc., et al. v. Anthony A. Nobles, et al., Orange County Superior
Court, Case No. 05 CC00137 (the “Dissolution Action”).

     B. On June 30, 2005, Synapse filed its related Shareholder Derivative Complaint for: (1)
Breach of Fiduciary Duty; (2) Misappropriation of Corporate Funds; (3) Accounting; (4) Imposition
of Constructive Trust; (5) Injunctive Relief; and (6) Unjust Enrichment against Anthony A. Nobles,
Egbert Ratering, and Sutura in the
case entitled Synapse Fund I, LLC, etc. vs. Anthony A. Nobles, et al., Orange County
Superior Court, Case No. 05 CC00136 (the “Derivative Action”).

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     C. Both the Dissolution Action and the Derivative Action are currently assigned to the
Honorable Thierry P. Colaw in Dept. CX 104 of the Orange County Superior Court.

     D. The Parties now desire to settle their disputes and avoid the further cost, time, and
burden associated with the Dissolution Action and the Derivative Action by entering into this
Agreement.

     NOW, THEREFORE, the Parties agree as follows:

     1. Court Approval. This Agreement shall be contingent upon court approval. The
Parties agree to do everything reasonably necessary to obtain court approval and support of the
shareholders of Sutura for this Agreement. Within 10 business days of the full execution of this
Agreement, Sutura shall file in the Derivative Action a motion for approval of this Agreement.
Sutura shall mail notice of the hearing on the motion for approval to each of its shareholders at
least twenty-six (26) days before the hearing. The notice shall inform the shareholders of their
opportunity to object to this Agreement and file a motion with the court to intervene as a
plaintiff, either on the shareholder’s own behalf, or on behalf of Sutura, Inc in the Derivative
Action. In the event that a shareholder is permitted to intervene in the Derivative Action, or the
court does not grant the motion for approval, this Agreement shall become voidable upon written
notice by any party mailed to all other parties within ten (10) days after such party receives
notice of the entry of the court’s order upon the motion to intervene or the motion seeking
approval.

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     2. Consideration.

          (a) Within 10 business days of the entry of the court’s order approving this Agreement, Sutura
will deliver to Synapse, via Plaintiffs’ counsel, Susan L. Harrison, a fully executed convertible
note for $400,000.00 in the form attached to this Agreement as Exhibit A. At the same time the
parties shall exchange executed copies of the Fifth Amended Security Agreement, in the form
attached as Exhibit B, the Fifth Amended Patent Security Agreement, in the form attached as Exhibit
C, and the Fifth Amended Registration Rights Agreement, in the form attached as Exhibit D.

          (b) Concurrently with the delivery of the note referred to in paragraph 2(a) above,
Plaintiffs’ counsel shall execute and deliver to counsel for Sutura, William S. O’Hare, for filing
with the court requests for dismissal with prejudice of both the Derivative Action and the
Dissolution Action.

          (c) Effective upon Plaintiffs’ dismissal with prejudice of both the Derivative Action and the
Dissolution Action, Anthony A. Nobles and Egbert Ratering agree that Anthony A. Nobles and Egbert
Ratering shall not again serve as CEO and CFO, respectively, of Sutura until the earlier of August
1, 2008, or a sale or change of control of Sutura. For purposes of this paragraph 2(c), a sale or
change of control of Sutura will be deemed to occur upon (A) the acquisition of Sutura by another
entity by means of any transaction or series of related transactions (including, without
limitation, any reorganization, merger or consolidation, but excluding any merger effected
exclusively for the purpose of changing the domicile of the corporation) or (B) a sale of all or
substantially all of the assets of the corporation; unless in each of the foregoing clauses (A) and
(B), the corporation’s shareholders of record as constituted

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immediately prior to such transaction(s), acquisition or sale will, immediately after such
transaction(s), acquisition or sale (by virtue of securities issued as consideration for the
corporation’s transaction(s), acquisition or sale or otherwise) hold at least 50% of the voting
power of the surviving or acquiring entity.

3. Discharge, Release, and Covenant Not to Sue.

          (a) Each of the Parties, for themselves, derivatively on behalf of Sutura, and for their
respective heirs, executors, administrators, representatives, trustees, agents, principals,
shareholders, servants, employees, attorneys, insurers, predecessors and successors in interest,
assigns, directors, officers, members, managers, partners, parent corporations, subsidiaries,
affiliates, and all other persons, firms, or corporations with whom or which any of them have been,
are now, or may hereafter be affiliated, and any other person or entity claiming through them or on
their behalf, hereby discharge, release, and covenant not to sue any of the other Parties as well
as their respective heirs, executors, administrators, representatives, trustees, agents,
principals, shareholders, servants, employees, attorneys, insurers, predecessors and successors in
interest, assigns, directors, officers, members, managers, partners, parent corporations,
subsidiaries, affiliates, and all other persons, firms, or corporations with whom or which any of
them have been, are now, or may hereafter be affiliated, and any other person or entity acting on
their behalf, for any claims, causes of action, losses, and liabilities, of any nature whatsoever,
whether known or unknown, and whether arising under statute, contract (express, implied, or
otherwise), in tort, equity, or any other theory of recovery, and whether for compensatory damages,
penalty, or punitive damages, which any party now has or may hereafter accrue or otherwise acquire,
in any

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way relating to or arising out of the Derivative Action, the Dissolution Action, the events
and facts giving rise to the Derivative Action or the Dissolution Action or which could have been
brought in the Derivative Action or the Dissolution Action.

          (b) The Parties expressly waive all rights under Section 1542 of the Civil Code of the State
of California. Said section of the Civil Code provides as follows:

A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE
CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR
AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY
HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH
THE DEBTOR.

     4. No Admission of Merits. The Parties agree and acknowledge that the sums and other
consideration specified in this Agreement are given as a full and complete compromise of matters
involving disputed issues; that neither payment of the sums or other consideration, nor the
negotiations for this Agreement shall be considered admissions; and that no past or present
wrongdoing or liability on the part of any party shall be implied by such payment or negotiations.

     5. Announcement of Settlement. The Parties agree that this settlement will be
announced by Sutura by way of a press release, substantially in the form attached to this Agreement
as Exhibit B. Sutura agrees to consult with Plaintiffs on any changes or additions to such press
release, but the timing of issuance of the press release, and the determination of the need or
content of any further announcement or disclosure shall be made by Sutura’s corporate counsel.

5

 

     6. Attorneys Fees. In the event that any action is brought by any party to interpret
or enforce the terms of this Agreement, the prevailing party or parties shall be entitled to
reasonable attorneys’ fees and costs in addition to all other relief to which that party or those
parties may be entitled.

     7. Successors. This Agreement shall be binding upon and inure to the benefit of the
Parties and their respective heirs, executors, administrators, representatives, trustees, agents,
servants, employees, attorneys, insurers, predecessors and successors in interest, assigns,
directors, officers, members, managers, partners, managers, members, parent corporations,
subsidiaries, affiliates, and all other persons, firms, or corporations with whom or which any of
them have been, are now, or may hereafter be affiliated.

     8. Controlling Law. This Agreement shall be interpreted in accordance with and
governed in all respects by the laws of the State of California.

     9. Severability. If any provision of this Agreement is held to be illegal, invalid or
unenforceable under present or future laws effective during the term of this Agreement, such
provision shall be fully severable. In lieu thereof, there shall be added a provision as similar
in terms to such illegal, invalid or unenforceable provision as may be possible and be legal, valid
and enforceable.

     10. Fair Interpretation. This Agreement is the product of negotiations between the
Parties and their respective attorneys, and shall be given fair interpretation. Each of the
Parties expressly acknowledges and agrees that this Agreement shall be deemed to have been mutually
prepared so that the rule of construction to the effect that
ambiguities are to be resolved against the drafting party shall not be employed in the
interpretation of this Agreement.

6

 

     11. Parties Advised by Counsel. The Parties represent and warrant to each other that
they have been represented by counsel with respect to this Agreement and all matters covered by and
relating to it, that they have been fully advised by such counsel with respect to their rights and
with respect to the execution of this Agreement, and that such counsel are authorized and directed
to take all action necessary to effect the purposes of this Agreement.

     12. Entire Agreement. This Agreement constitutes the entire agreement among the
Parties, and it is expressly understood and agreed that this Agreement may not be altered, amended,
modified, or otherwise changed in any respect or particular whatsoever, except by a writing duly
executed by the Parties, or their authorized representatives, and the Parties, and each of them,
acknowledge and agree that none of them will make any claim at any time or place that this
Agreement has been orally altered or modified in any respect whatsoever.

     13. Authority to Enter Into Agreement. Each individual executing this Agreement on
behalf of any party represents and warrants to the other Parties that such individual is authorized
to enter into this Agreement on behalf of that party and that this Agreement binds that party.

     14. Counterparts. This Agreement may be executed by fax signature and in one or more
counterparts, each of which shall constitute a duplicate original.

7

 

     15. Effective Date. This Agreement shall not be binding or of any force or effect
unless and until it is executed by all Parties. The effective date of this Agreement shall be the
date it becomes executed by all Parties.

     16. Cooperation. All Parties agree to cooperate fully and execute any and all
supplementary documents and to take all additional actions which may be necessary or appropriate to
give full force and effect to the basic terms and intent of this Agreement.

     17. Authority. The Agreement when executed and delivered by the Parties shall
constitute the legal, valid and binding obligation of the Parties in accordance with the terms
hereof. The execution, delivery and performance of the Parties of or under the Agreement is within
the power of the Parties and have been duly authorized by their management as required by, as
applicable, their articles of incorporation, bylaws, other governing instruments and applicable
law.

	 	 	 	 	 	 	 
	 	 	 	 	Synapse Fund I, LLC
	 
	 	 	 	 	 	 
	Dated: March ___, 2007
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Its:	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	Synapse Fund II, LLC
	 
	 	 	 	 	 	 
	Dated: March ___, 2007
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Its:	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	Go Industries, Inc.
	 
	 	 	 	 	 	 
	Dated: March ___, 2007
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Its:	 	 
	 

	 	 	 	 	 	 

8

 

	 	 	 	 	 	 	 
	Dated: March ___, 2007
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	Kenneth A. Barnett
	 
	 	 	 	 	 	 
	Dated: March ___, 2007
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	Marion Bates
	 
	 	 	 	 	 	 
	Dated: March ___, 2007
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	Philip V. Bates
	 
	 	 	 	 	 	 
	 	 	 	 	Belinfer Corporation
	Dated: March ___, 2007
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Its:	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Dated: March ___, 2007
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	Leon A. Chiu
	 
	 	 	 	 	 	 
	 	 	 	 	Colunga Living Trust
	 
	 	 	 	 	 	 
	Dated: March ___, 2007
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Its:	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Dated: March ___, 2007
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	Jack Gregory
	 
	 	 	 	 	 	 
	Dated: March ___, 2007
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	Daniel G. Hall

9

 

	 	 	 	 	 	 	 
	Dated: March ___, 2007
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	Rudy Kranys
	 
	 	 	 	 	 	 
	Dated: March ___, 2007
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	Sherry Kranys
	 
	 	 	 	 	 	 
	Dated: March ___, 2007
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	Philip J. Monks
	 
	 	 	 	 	 	 
	Dated: March ___, 2007
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	Susan Monks
	 
	 	 	 	 	 	 
	Dated: March ___, 2007
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	Irwin D. Novak
	 
	 	 	 	 	 	 
	Dated: March ___, 2007
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	Judi M. Novak
	 
	 	 	 	 	 	 
	Dated: March ___, 2007
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	Ryan T. Powell
	 
	 	 	 	 	 	 
	Dated: March ___, 2007
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	Taylor B. Powell

10

 

	 	 	 	 	 	 	 
	Dated: March ___, 2007
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	Martin Terry Rothman
	 
	 	 	 	 	 	 
	Dated: March ___, 2007
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	Bruce E. Stimson
	 
	 	 	 	 	 	 
	Dated: March ___, 2007
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	Nancy Stimson
	 
	 	 	 	 	 	 
	 	 	 	 	Robert C. Strauss Grantor Retainer Interest Trust
	 
	 	 	 	 	 	 
	Dated: March ___, 2007
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Its:	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Dated: March ___, 2007
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	Rena White Connor
	 
	 	 	 	 	 	 
	 	 	 	 	Mark H. Wholey Family LTD. Partnership
	Dated: March ___, 2007
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Its:	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	Sutura, Inc.
	Dated: March ___, 2007
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Its:	 	 
	 

	 	 	 	 	 	 

11

 

	 	 	 	 	 	 	 
	Dated: March ___, 2007
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	Anthony A. Nobles
	 
	 	 	 	 	 	 
	Dated: March ___, 2007
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	Rhonda Nobles
	 
	 	 	 	 	 	 
	Dated: March ___, 2007
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	Egbert Ratering
	 
	 	 	 	 	 	 
	Dated: March ___, 2007
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	Gary Becker
	 
	 	 	 	 	 	 
	Dated: March ___, 2007
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	Kate Hutchins Bates
	 
	 	 	 	 	 	 
	Dated: April ___, 2007
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	Jessica K. Novak

12

 

	 	 	 	 	 	 	 
	Approved:
	 	 	 	 	 	 
	 	 	 	 	LAW OFFICES OF SUSAN L. HARRISON
	 
	 	 	 	 	 	 
	Dated: April ___, 2007
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	Susan L. Harrison
	 

	 	 	 	 	 	Attorneys for Synapse Fund I, LLC
	 

	 	 	 	 	 	and Synapse Fund II, LLC
	 
	 	 	 	 	 	 
	 	 	 	 	SAMUELS, GREEN, STEEL

& ADAMS, LLP
	Dated: April ___, 2007
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	Eoin L. Kreditor
	 

	 	 	 	 	 	Attorneys for Go Industries, Inc., Kenneth A.
	 

	 	 	 	 	 	Barnett, Marion Bates, Philip V. Bates, Kate
	 

	 	 	 	 	 	Hutchins Bates, Belinfer Corporation, Leon A.
	 

	 	 	 	 	 	Chiu, Colunga Living Trust, Jack Gregory,
	 

	 	 	 	 	 	Daniel G. Hall, Rudy Kranys, Sherry Kranys, Philip
	 

	 	 	 	 	 	J. Monks, Susan Monks, Irwin D. Novak, Jessica K.
	 

	 	 	 	 	 	Novak, Judi M. Novak, Ryan T. Powell, Taylor B.
	 

	 	 	 	 	 	Powell, Martin Terry Rothman, Bruce E. Stimson,
	 

	 	 	 	 	 	Nancy Stimson, Gary Becker, Robert C. Strauss
	 

	 	 	 	 	 	Grantor Retained Interest Trust, Rena White
	 

	 	 	 	 	 	Connor, and Mark H. Wholey Family LTD. Partnership
	 
	 	 	 	 	 	 
	 	 	 	 	SNELL & WILMER l.l.p.
	 
	 	 	 	 	 	 
	Dated: April ___, 2007
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	William S. O’Hare
	 

	 	 	 	 	 	Attorneys for Sutura, Inc.
	 
	 	 	 	 	 	 
	 	 	 	 	McGEE & ASSOCIATES
	 
	 	 	 	 	 	 
	Dated: April ___, 2007
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	James F. McGee
	 

	 	 	 	 	 	Attorneys for Anthony Nobles,
	 

	 	 	 	 	 	Rhonda Nobles, and Egbert Ratering

13

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00128-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00128-of-00352.parquet"}]]