Document:

Exhibit 10.36

 

TECHNOLOGY
ASSIGNMENT AGREEMENT

 

TECHNOLOGY ASSIGNMENT AGREEMENT entered into as of
the 27th day of August, 2003, between MedicalCV, Inc., a Delaware Corporation
(“Company”) and LightWave Ablation Systems, Inc., a North Carolina Corporation (“LightWave”),
Gregory Brucker (“Brucker”) and Robert Svenson, M.D. (“Svenson”).

 

A.                                   The parties hereto have entered into a
Technology Purchase Agreement dated August 27, 2003 (the “TPA”),
providing, among other things, for the transfer to the Company of the
technology defined below (the “Technology”).

 

B.                                     Brucker and Svenson are inventors of the
device described by the Technology, a catheter/probe used for purposes for
delivering laser energy to the epicardial surface of the heart for treatment of
atrial fibrillation (the “Device”), aspects of which have been disclosed by
LightWave to the Company in a draft of a provisional patent application
attached as Exhibit A to the TPA.

 

C.                                     Brucker and Svenson are shareholders of
LightWave and will benefit from the TPA.

 

D.                                    This Assignment assigns to the Company all of
the interests of LightWave, Brucker and Svenson in the Technology.

 

NOW,
THEREFORE, in
consideration of the premises and for valuable consideration, receipt of which
is hereby acknowledged, the parties hereto agree as follows:

 

1.                                       Assignment.                               LightWave, Brucker and Svenson (hereinafter
the “Assignors”) hereby assign to the Company exclusively throughout the world
all right, title and interest (whether or not now existing) in and to (i) the
Device and all other subject matter referred to in the Technology as defined
herein; (ii) all precursors, portions and work in progress with respect thereto
and all inventions, technology, information, designs, know-how, materials,
prototypes and tools relating thereto or to the development, production, use,
support or maintenance thereof and (iii) any and all inventions embodied in or
by the Techology and (iv) any and all patent rights, trade secret rights,
authorship rights, sui generis and database right and other intellectual
property rights for the Device, Technology and inventions embodied therein or
thereby and all business, contract rights and goodwill in, incorporated or
embodied in, used to develop or produce or use, or relate it to any of the
foregoing.

 

2.                                       Definitions.                                 The definition and scope of the term
“Technology” and all other all other capitalized terms not defined herein,
shall be as set forth in the TPA, a copy of which is incorporated herein by
reference.

 

3.                                       Consideration.              The consideration for this Technology
Assignment Agreement is the consideration paid and payable by the Company to
LightWave pursuant to the terms of the TPA.

 

4.                                       Further Assurances.                                   Assignors agree to assist the Company in
every proper way to evidence, record, and perfect the assignment set forth in
Section 1 hereof and to apply for or obtain recordation of and from time
to time secure, enforce, maintain and defend the assigned rights.  If the Company is unable for any reason to
secure Assignors’ signature to any document requested by the Company pursuant
to this Section, Assignors irrevocably designate and appoint the Company and
its duly authorized officers and agents as assignors’ agents and
attorneys-in-fact, coupled with an interest and with full power of
substitution, to act for and on Assignors’ behalf and instead of Assignors, to
execute and file any such document or documents and to do all other lawfully
permitted acts to further the purposes of the

 

 

foregoing with the same legal force and effect as if executed by
Assignors.  To the extent allowed by
law, the assignment set forth in Section 1 includes all rights of
integrity, paternity, disclosure, and withdrawal and any other rights that may
be known as or referred to as “moral rights,” or the like, and to the extent
Assignors retain any such moral rights under applicable law, Assignors ratify
and consent to, and provide all necessary ratifications of and consents to any
action that might be taken with respect to such rights by, or authorized by,
the Company; and Assignors will not assert any moral rights with respect
thereto.  Assignors will confirm any
such ratifications, consents and agreements from time to time as requested by
the Company.

 

5.                                       Confidential Information.          Assignors
will not use or disclose anything assigned to the Company hereunder or any
other technical or business information or plans of the Company without the
prior written consent of the Company and agree to preserve the confidentiality
of the intellectual property except to the extent Assignors (i) can document
that it is generally available (through no fault of Assignors, or any of them)
for use in disclosure by the public without charge, license or restriction, or
(ii) are permitted to use or disclose such information or plans pursuant to the
terms of the TPA or agreements or instruments delivered therewith or pursuant
thereto.  The terms of this Agreement
are confidential to the Company and no press release or other written
disclosure or oral disclosure of any nature regarding the terms of this
Agreement shall be made by Assignors with out the Company’s prior written
approval.

 

IN WITNESS WHEREOF, the parties have executed this
Agreement on the day and year first above written.

 

 

	
   

  	
  Signed: 
  MedicalCV, Inc.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Blair P. Mowery

  	
   

  
	
   

  	
   

  	
  Blair P. Mowery,

  
	
   

  	
   

  	
  Chief Executive Officer

  
	
   

  	
   

  
	
   

  	
  LightWave Ablation Systems, Inc.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Gregory Brucker

  	
   

  
	
   

  	
   

  	
  Gregory Brucker, President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ Gregory Brucker

  	
   

  
	
   

  	
  Gregory Brucker

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ Robert Svenson, M.D.

  	
   

  
	
   

  	
  Robert Svenson, M.D.Exhibit 10.37

 

PROPRIETARY
INFORMATION

AND INVENTIONS AGREEMENT

 

The following confirms an agreement between me and
MEDICALCV, INC., a Minnesota corporation (the “Company”), which is a material
part of the consideration for my employment by, or consulting services provided
to the Company:

 

A.                                   I understand that 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/consulting creates a relationship of confidence
and trust between me and the Company with respect to Proprietary Information.

 

B.                                     I understand that the Company possesses
“Company Documents” which are important to its business.  For purposes of this Agreement, “Company
Documents” are documents or other media that contain Proprietary Information or
any other information concerning the business, operations or plans of the
Company, whether such documents have been prepared by me or by others.  Company Documents include, but are not
limited to, blueprints, drawings, photographs, charts, graphs, notebooks,
customer list, computer disks, tapes or printouts, sound recordings and other
printed, typewritten or handwritten documents.

 

C.                                     Unless the subject of my consulting services
or employment is, by mutual agreement with the Company, expanded to include
other services, my consultation or employment, this agreement and its terms
will relate solely to the “Restricted Business.”  “Restricted Business” means directly or indirectly engaging in
the development, manufacturing and sale of devices or methods for the treatment
of atrial fibrillation through the delivery of energy to affect or create
lesions to the epicardial surface of the heart; provided, however, that the
restricted activity shall not include: 
(i) engaging in the practice of medicine, including the treatment of
atrial fibrillation by any means and consultation in connection therewith, or
other professional activities of physicians such as participation in clinical
trials; or (ii) consultation with or employment by an organization or entity
that engages in the Restricted Business, provided that the subject of such
consultation or work does not involve the development, manufacture and sale of
devices or methods for the treatment of atrial fibrillation through the
delivery of energy to affect or create lesions to the epicardial surface of the
heart.

 

D.                                    In consideration of my employment by the
Company and the compensation received by me from the Company from time to time
or my consulting relationship with the Company and the fees I may receive from
the Company, I hereby agree as it relates to the Restricted Business as
follows:

 

1.                                       All Proprietary Information and all patents,
copyrights and other rights in connection therewith shall be the sole property
of the Company.  I hereby assign to the
Company any rights I may have or acquire in such Proprietary Information.  At all times both during my employment/engagement
by the Company and after termination of such employment/engagement, I will keep
in confidence and trust and will not use or disclose any Proprietary
Information or anything relating to it without the prior written

 

 

consent of an officer of the Company, except as may be necessary in the
ordinary course of performing my duties to the Company.

 

2.                                       All Company Documents shall be the sole
property of the Company.  I agree that
during my employment or engagement by the Company, I will not remove any
Company Documents from the business premises of the Company or deliver any Company
Documents to any person or entity outside the Company, except as I am required
to do in connection with performing the duties of my employment.  I further agree that, immediately upon the
termination of my employment by me or by the Company for any reason, or during
my employment/engagement if so requested by the Company, I will return all
Company Documents, apparatus, equipment and other physical property, or any
reproduction of such property, excepting only (i) my personal copies of records
relating to my compensation; (ii) my personal copies of any materials
previously distributed generally to stockholders of the Company; and (iii) my
copy of this Agreement.

 

3.                                       I will promptly disclose in writing to my
immediate supervisor, with a copy to the President of the Company, or to any
persons designated by the Company, all “Inventions,” which includes all
improvements, inventions, works of authorship, mask works, computer programs,
formulae, ideas, processes, techniques, know-how and data, whether or not patentable,
made or conceived or reduced to practice or developed by me, either alone or
jointly with others, during the term of my employment/engagement, which pertain
to the Restricted Business.  I will also
disclose to the President of the Company all things that would be Inventions
pertaining to the Restricted Business if made during the term of my
employment/engagement, conceived, reduced to practice, or developed by me
within six (6) months of the termination of my employment with the Company.  Such disclosures shall be received by the
Company in confidence and do not extend the assignment made in Section 4
below.  I will not disclose Inventions
to any person outside the Company unless I am requested to do so by management
personnel of the Company.

 

4.                                       MedicalCV has provided to me this written
notification that this Agreement does not apply to an invention for which no
equipment, supplies, facility or trade secret of the Company was used and which
was developed entirely on my own time, and (1) which does not relate (a)
directly to the Restricted Business of the Company or (b) to the Company’s
actual or demonstrably anticipated research or development, or which does not
result from any work performed by me for the Company.

 

5.                                       I agree to perform, during and after my
employment or engagement, all acts deemed necessary or desirable by the Company
to permit and assist it, at the Company’s expense, in obtaining, maintaining,
defending and enforcing patents, copyrights or other rights on such Inventions
and improvements in any and all countries. 
Such acts may include, but are not limited to, execution of documents
and assistance or cooperation in legal proceedings.  I hereby irrevocably designate and appoint the Company and its
duly authorized officers and agents, as my agents and attorneys-in-fact to act
for and in my behalf and instead of me, to execute and file any documents and
to do all other lawfully permitted acts to further the above purposes with the
same legal force and effect as if executed by me.

 

6.                                       I have attached hereto as Exhibit C a
complete list of all Inventions related to the Restricted Business to which I
claim ownership and that I desire to remove from the operation of this
Agreement, and I acknowledge and agree that such list is complete.  If no such lists attached to this Agreement,
I represent that I have no such Inventions at the time of signing this
Agreement.

 

7.                                       During the term of my employment/engagement
and for one (1) year thereafter, I will not encourage or solicit any employee
of the Company to leave the Company for any reason.  However, this obligation shall not affect any responsibility I
may have as an employee/consultant of the Company with respect to the bona fide
hiring and firing of Company personnel. 
In addition, I agree that during
the term

 

 

of my employment or engagement, and for one
(1) year thereafter, I will not do anything which would in any manner disrupt,
undermine or impair the Company’s contractual relationships with any of its
customers.

 

8.                                       I represent that my performance of all the
terms of this Agreement will not breach any agreement to keep in confidence
proprietary information acquired by me in confidence or in trust prior to my
employment/engagement by the Company.  I
have not entered into, and I agree I will not enter into, any agreement either
written or oral in conflict herewith or in conflict with my
employment/engagement with the Company.

 

9.                                       I agree that except to the extent provided in
any written consulting or employment agreement entered into between me and the
Company, I have the right to resign and the Company has the right to terminate
my employment at any time, for any reason, with or without cause.  This is the full and complete agreement
between myself and the Company on this term.

 

10.                                 I agree that this Agreement does not purport
to set forth all of the terms and conditions of my employment/engagement, and
that as an employee/consultant of the Company I have obligations to the Company
which are not set forth in this Agreement.

 

11.                                 I agree that my obligations under paragraphs
1 through 7 of this Agreement shall continue in effect after termination of my
employment or consulting relationship, regardless of the reason or reasons for
termination, and whether such termination is voluntary or involuntary on my
part, and that the Company is entitled to communicate my obligations under this
Agreement to any future employer or potential employer of mine.

 

12.                                 This Agreement shall be effective as of the
date I executed this Agreement and shall be binding upon me, my heirs,
executors, assigns, and administrators and shall inure to the benefit of the
Company, its subsidiaries, successors and assigns.

 

13.                                 This Agreement can only be modified by a
subsequent written agreement executed by an officer of the Company.

 

I
HAVE READ THIS AGREEMENT CAREFULLY AND I UNDERSTAND AND ACCEPT THE OBLIGATIONS
WHICH IT IMPOSES UPON ME WITHOUT RESERVATION. 
NO PROMISES OR REPRESENTATIONS HAVE BEEN MADE TO ME TO INDUCE ME TO SIGN
THIS AGREEMENT.  I SIGN THIS AGREEMENT
VOLUNTARILY AND FREELY.

 

	
  Date:August 10,
  2003

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

  	
   

  
	
   

  	
  Signature
  of Employee or Consultant

  

 

 

I
HAVE READ THIS AGREEMENT CAREFULLY AND I UNDERSTAND AND ACCEPT THE OBLIGATIONS
WHICH IT IMPOSES UPON ME WITHOUT RESERVATION. 
NO PROMISES OR REPRESENTATIONS HAVE BEEN MADE TO ME TO INDUCE ME TO SIGN
THIS AGREEMENT.  I SIGN THIS AGREEMENT
VOLUNTARILY AND FREELY.

 

	
  Date:
  August 10, 2003

  	
  /s/
  Gregory G. Brucker

  	
   

  
	
   

  	
  Signature
  of Employee or Consultant

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