Document:

Exhibit
        10.4

       

      EMPLOYMENT
        AGREEMENT

      

      AGREEMENT
        by and between Bio-Lok International Inc. (the “Company”), and Patricio A. Nilo
        (the “Executive”), dated as of the 1st day of November, 1997.

      

      WHEREAS,
        The Board of Directors of the Company (the “Board”) has determined that it is in
        the best interest of the Company and its shareholders, to avail itself of
        the
        Executive’s services as Director International Sales & Marketing (with
        special emphasis on Central and South America) of the Company and to assure
        that
        the Company will have the continued dedication of the Executive.

      

      NOW,
        THEREFORE, IT IS HEREBY AGREED AS FOLLOWS:

      

      1. Definitions. As
        used
        in this Agreement, the following terms shall have the following
        meaning:

      

      (a) Proprietary
        Information shall mean any trade or business secrets of the Company and any
        scientific, technical or business materials that are treated by the Company
        as
        confidential or proprietary and are not now in, or hereafter enter, the public
        domain, including, but not limited to information to which the Executive
        has
        access or to which he may have access relating to the Company’s present or
        planned business methods of doing business and certain other business
        information with which the Company has entrusted Executive in the use,
        application or purpose therefore. “Proprietary Information” shall not include
        any (i) general knowledge of the industry in the possession of the Executive
        prior to his becoming an employee of the Company (ii) any information in
        the
        public domain at the time of receipt by Executive, or (iii) any information
        which, after receipt thereof by Executive, becomes part of the public domain
        through no improper act or omission of Executive, but shall include the trade
        secrets of and confidential information about the Company possessed by the
        Executive prior to his becoming an employee of the Company.

      

      (b) Intellectual
        Property means any written, drawing, logo, computer program, manual, trade
        name,
        trademark, service mark or other material of the Company registered or otherwise
        protected or protectable under state, federal or foreign patent, trademark,
        copyright, or similar laws.

      

      2. Employment
        Period. The
        Company hereby employs the Executive and agrees to continue the Executive
        in its
        employ, and the Executive hereby agrees to remain in the employ of the Company
        upon the terms and conditions hereinafter set forth, for the period commencing
        on the date hereof and ending on the second (2nd) anniversary from such date
        (the “Employment Period”), and such Employment Period shall automatically renew
        annually on each October 31st for two (2) years - i.e. at all times on each
        October 31st another two (2) years of Employment Period will be
        outstanding.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

         

      

      3. Terms
        of
        Employment. During the Employment Period(s), and excluding any periods of
        vacation, personal and sick leave to which the Executive is entitled, the
        Executive agrees to devote reasonable attention and time during normal business
        hours to the business and affairs of the Company and, to the extent necessary,
        to discharge the responsibilities assigned to the Executive, to use the
        Executive’s reasonable best efforts to perform faithfully and efficiently such
        responsibilities. During the Employment Period, it shall not be a violation
        of
        this Agreement for the Executive to (i) serve on civic or charitable boards
        or
        committees, (ii) manage associated companies, as directed by the Board of
        Directors, for compensation additional to this agreement, (iii) deliver
        lectures, fulfill speaking engagements or teach at educational institutions
        or
        (iv) manage personal investments, as long as such activities do not interfere
        with the performance of the Executive’s responsibilities as an employee of the
        Company in accordance with this Agreement.

      

      4. Position,
        Responsibilities and Location. During the Employment Period, the Executive
        shall
        hold and perform a position of responsibility, importance and scope with
        the
        Company at least equal to those of the position held by him immediately prior
        to
        any Change in Control. The Executive shall not be required, without his written
        consent, to change his office location from the location thereof immediately
        prior to a Change in Control or to be absent therefrom on business more than
        sixty (60) working days in any year or more than ten (10) consecutive days
        at
        any one time.

      

      5. Compensation.  

      

      (a) Base
        Salary. During the Employment Period, the Executive shall receive a base
        salary
        (“Base Salary”) of $65,000 per annum payable in accordance with the customary
        payroll practices of the Company. The Executive’s performance and Base Salary
        shall be reviewed by the Board of Directors each October 31, and each such
        review shall represent a salary adjustment date which can cause the Base
        Salary
        to be increased by an amount to be determined and approved by the Board of
        Directors. Any such increase in the Base Salary shall not serve to limit
        or
        reduce any other obligation to the Executive under this Agreement. That portion
        of the Executive’s salary which is not taken during a given employment year
        shall be paid in common stock shares of the Company as detailed under (i)
        under
        this section.

      

      (b) Annual
        Bonus. In addition to the Base Salary, the Executive shall be awarded, for
        each
        fiscal year during the Employment Period(s), an annual bonus (an “Annual Bonus”)
        of not less than 10% of Base Salary in cash in such amounts as determined
        and
        approved by the Board of Directors. That portion of the Executive’s Annual Bonus
        which is not taken during a given employment year shall be paid in common
        stock
        shares of the Company as detailed under (i) under this section.

      

      (c) Incentive,
        Savings and Retirement Plans. In addition to Base Salary and Annual Bonus
        payable as hereinabove provided, the Executive shall be entitled to participate
        during the Employment Period(s) in all incentive, savings and retirement
        plans
        and programs applicable to other key executives and employees of the Company.
        

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      (d) Welfare
        Benefits Plans. During the Employment Period(s), the Executive and/or the
        Executive’s family, as the case may be, shall be eligible for participation in
        and shall receive all benefits under the welfare benefit plans provided by
        the
        Company (including, without limitation, medical, hospitalization, prescription,
        dental, disability, salary continuance, executive life, group life, accidental
        death and travel, accident insurance plans and programs).

      

      (e) Expenses.
        During the Employment Period(s), the Executive shall be entitled to incur
        and
        receive prompt reimbursement for all reasonable travel, (other than commuting)
        entertainment and other business expenses incurred by the Executive in
        accordance with the policies and procedures of the Company.

      

      (f) Fringe
        Benefits. During the Employment Period(s), the Executive shall be entitled
        to
        all fringe benefits provided to Executives at his/her level as approved by
        the
        President and any employees of the Company, including a company car allowance
        which will be set by the President of the Company from time to time, and
        one (1)
        Airline membership.

      

      (g) Office
        and Support Staff. During the Employment Period(s), the Executive shall be
        entitled to an office of a size and with furnishings and other appointments,
        and
        to secretarial and other assistance, at least equal to those provided to
        other
        key Executives of the Company.

      

      (h) Vacation.
        During the Employment Period(s), the Executive shall be entitled to such
        paid
        vacation as determined by the officers of the Company and concurred by the
        Board
        of Directors.

      

      (i) Compensation
        paid in lieu of cash. Any compensation and benefit due the Executive and
        not
        paid by the Company on a timely and current basis can be taken in common
        stock
        shares of the Company at a value equal to the net worth divided by the number
        of
        shares issued and outstanding, at the Executive’s discretion.

      

      (j) Severance
        Payment. Executive
        shall receive severance payments upon termination if termination is other
        than
        due to Cause (Section 5. (c)). Commencing with the termination, death or
        disability classification of the Executive the Company shall pay to the
        Executive and/or his dependent(s) severance payments equal to his then current
        compensation over any then outstanding employment period as defined herein.
        

      

      (k) Payment
        to Executive upon Termination of Term. If the Term shall terminate pursuant
        to
        Section 6. (a). (b) or (d), Company shall compensate Executive with a Severance
        Bonus in the form of common stock shares of the Company’s voting shares equal
        .5% (one half percent) of the Company’s then outstanding common stock shares
        each year of the Executive’s Termination Date so long Severance Payments are
        paid to the Executive.

      

      6. Termination.  

      

      (a)
         
        Death.
        This Agreement shall terminate automatically upon the Executive’s death and
        dependent(s) will receive payments due as detailed under Section 7.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      (b) Disability.
        If the Company determines in good faith that the Disability of the Executive
        has
        occurred (pursuant to the definition of “Disability” as set forth below), it may
        give to the Executive written notice of its intention to terminate the
        Executive’s employment. In such event, the Executive’s employment with the
        Company shall terminate effective on the 30th day after receipt of such notice
        by the Executive (the “Disability Effective Date”), provided that, within the 30
        days after such receipt, the Executive shall not have returned to full-time
        performance of the Executive’s duties. 

      

      (1) For
        purposes of this Agreement, “Disability” means disability which, at least 26
        weeks after its commencement, is determined by the Company to be of such
        a
        nature as to prevent the Executive from performing his duties; or

      

      (2) Disability
        as defined by the Social Security System Guidelines.

      

      (c) Cause.
        The Company may terminate the Executive’s employment for “Cause”. For purposes
        of this Agreement, “Cause” means (a) an act or acts of personal dishonesty taken
        by the Executive, (b) the conviction of the Executive of a crime involving
        moral
        turpitude, (c) the failure, refusal or inability to adequately perform his
        duties as reasonably assigned to him hereunder from time-to-time, or (d)
        the
        failure to follow a reasonable instruction form the Board of Directors of
        the
        Company.

      

      (d) Good
        Reason. The Executive’s employment may be terminated by the Executive for Good
        Reason. For purposes of this Agreement, “Good Reason” means:

      

      (i)
        the
        assignment to the Executive of duties inconsistent in any material respect
        with
        the Executive’s position, authority, duties or responsibilities or any other
        action by the Company which results in a material diminution in such position,
        authority, duties or responsibilities, excluding for this purpose an isolated,
        insubstantial and inadvertent action not taken in bad faith and which is
        remedied by the Company promptly after receipt of notice thereof given by
        the
        Executive;

      

      (ii)
        any
        failure by the Company to comply with any of the provisions of Section 4.
        of
        this Agreement, other than an isolated, insubstantial and inadvertent failure
        not occurring in bad faith and which is remedied by the Company promptly
        after
        receipt of notice thereof given by the Executive;

      

      (iii)
        the
        Company requiring the Executive to be based at any office or location other
        than
        within 50 miles of the Company’s current office location in Deerfield Beach,
        Florida, except for travel reasonably required in the performance of the
        Executive’s responsibilities;

      

      (iv)
        any
        purported termination by the Company of the Executive’s employment otherwise
        than as expressly permitted by this Agreement.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      (e) Notice
        of
        Termination. Any termination by the Company for Cause or by the Executive
        for
        Good Reason shall be communicated by Notice of Termination to the other party
        hereto given in accordance with Section 14 (b) of this Agreement. For purposes
        of this Agreement, a “Notice of Termination” means a written notice which (i)
        indicates the specific termination provision in this Agreement relied upon,
        (ii)
        sets forth in reasonable detail the facts and circumstances claimed to provide
        a
        basis for termination of the Executive’s employment under the provisions so
        indicated and (iii) if the Date of Termination (as defined below) is other
        than
        the date of receipt of such notice, specifies the termination date (which
        date
        shall be not more than fifteen (15) days after the giving of such Notice).
        The
        failure by the Executive to set forth in the Notice of Termination any fact
        or
        circumstances which contribute to a showing of Good Reason shall not waive
        any
        right of the Executive hereunder or preclude the Executive from asserting
        such
        fact or circumstance in enforcing his rights hereunder.

      

      (f) Date
        of
        Termination. “Date of Termination” means the date of receipt of the Notice of
        Termination or any later date specified therein, as the case may be; provided,
        however, that (i) if the Executive’s employment is terminated by the Company
        other than for Cause or Disability, the Date of Termination shall be the
        date on
        which the Company notifies the Executive of such termination and (ii) if
        the
        Executive’s employment is terminated by reason of Death or Disability, the Date
        of Termination shall be the date of death of the Executive or the Disability
        Effective Date, as the case may be.

      

      7. Obligation
        of the Company upon Termination. 

      

      (a) Death.
        If
        the Executive’s employment is terminated by reason of the Executive’s death,
        this Agreement shall continue as required under the section titled “Severance
        Payment”; and, any unpaid Annual Bonus required to be paid to the Executive for
        the last full fiscal year or fraction thereof together with any accrued interest
        thereon, any accrued vacation pay not yet paid by the Company, and any other
        amounts or benefits owing to or accrued or vested for the account of the
        Executive under the then applicable employee benefits plans or policies of
        the
        Company. All accrued obligations shall be paid by the Company to the Executive
        dependent(s) in a lump sum in cash within 90 days of the Date of Termination.
        Anything in this Agreement to the contrary notwithstanding, the Executive’s
        family shall be entitled to receive benefits at least equal to the benefits
        provided by the Company, to surviving families of executives of the Company,
        under such plans, programs and policies relating to family death benefits,
        if
        any, in accordance with the most favorable policies of the Company.

      

      (b) Disability.
        If the Executive’s employment is terminated by reason of the Executive’s
        Disability, this Agreement shall terminate and continue as detailed under
        this
        section par. (a).

      

      (c) Cause:
        Other than for Good Reason. If the Executive’s employment shall be terminated
        for Cause, this Agreement shall terminate without further obligations to
        the
        Executive, other than the obligation to pay to the Executive the current
        Base
        Salary through the Date of Termination and after the Date of Termination
        salary
        and amounts as detailed under Section 5. (j) and (k) hereto. If the Executive
        terminates employment other than for Good Reason, death or disability, this
        Agreement shall terminate without further obligations to the Executive, other
        than those obligations accrued or earned by the Executive through the Date
        of
        Termination, including for this purpose, All Accrued Obligations.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      (d) Salary
        and Benefit continuance shall be for the balance of any contractual period
        of
        (one (1) year) following Termination of Employee (see severance payment Section
        5. (j)) for any reason other than described in Section 6. (c).

      

      8. Non-Exclusivity
        of Rights. Nothing in this Agreement shall prevent or limit the Executive’s
        continuing or future participation in any benefit, bonus, incentive or other
        plan or program provided by the Company and its affiliated companies for
        which
        the Executive may qualify, nor shall anything herein limit or otherwise affect
        such rights as the Executive may have under any stock option or other agreements
        with the Company, or any of its affiliated companies. Amounts which are vested
        benefits or which the Executive is otherwise entitled to receive under any
        plan
        or program of the Company or any of its affiliated companies at or subsequent
        to
        he Date of Termination shall be payable in accordance with such plan or
        program.

      

      9. Confidentiality
        and Restrictive Covenant.  

      

      (a) During
        the Employment Period and for a period of twenty-four (24) months immediately
        following the termination of the Executive’s employment or after any salary
        continuance, the Executive agrees to maintain in strict confidence the
        Proprietary Information and Intellectual Property and that he will not engage
        in
        or have any financial interest in any business enterprise in competition
        with
        the Company. For purposes of this Section 9, the Executive shall be deemed
        to be
        engaged in or have a financial interest in a business enterprise if he is
        an
        employee, officer, director, trustee, agent, consultant or partner of any
        person
        which is engaged in such business, or if he owns, directly or indirectly,
        stock
        or securities convertible into or exchangeable for stock or otherwise has
        any
        equity or beneficial interest in such person; provided, that the ownership
        of 5%
        or less of the outstanding shares of a class of security, which is regularly
        traded on a national securities exchange or quoted in an automated inter-dealer
        quotation system, shall not be deemed to be engaging or having a financial
        interest in the business of such person or entity.

      

      (b) During
        the Term and for a period of one (1) year immediately following the termination
        of the Executive’s employment or salary continuance, the Executive agrees that
        he will not directly or indirectly hire or solicit any employee of the Company
        or who was an employee, consultant or independent contractor of the Company
        at
        any time within the six-month period immediately prior thereto or encourage
        an
        employee, consultant, independent contractor or agent of the Company to
        terminate such employment or agency relationship.

      

      (c) The
        Executive acknowledges and agrees that the restrictive covenants set forth
        in
        this Section 9. (the “Restrictive Covenants”) are reasonable and valid in
        geographical and temporal scope and in all other respects. If any court
        determines that any of the Restrictive Covenants, or any part thereof, is
        invalid or unenforceable, the remainder of the Restrictive Covenants shall
        not
        thereby be affected and shall be given full force and effect, without regard
        to
        the invalid or unenforceable parts.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      (d) If
        any
        court determines that any of the Restrictive Covenants, or any part thereof,
        is
        invalid or unenforceable for any reason, such court shall have the power
        to
        modify such Restrictive Covenant, or any part thereof, and, in its modified
        form, such Restrictive Covenant shall then be valid and
        enforceable.

      

      10. Equitable
        Relief. In the event of a breach or threatened breach by the Executive of
        any of
        the covenants contained in Section 8. hereof, the Company shall be entitled
        to
        temporary retraining order, a preliminary injunction and/or a permanent
        injunction restraining the Executive from breaching or continuing to breach
        any
        of said covenants. Nothing herein contained shall be construed as prohibiting
        the Company from pursuing any other remedies that may be available to it
        for
        such breach or threatened breach, including the recovering of
        damages.

      

      11. Full
        Settlement. The Company’s obligation to make the payments provided for in this
        Agreement and otherwise to perform its obligations hereunder shall not be
        affected by any setoff, counterclaim, recoupment, defense or other claim,
        right
        or action which the Company may have against the Executive or others. In
        no
        event shall the Executive be obligated to seek other employment or take any
        other action by way of mitigation of the amounts payable to the Executive
        under
        any of the provisions of this Agreement.

      

      12. Confidential
        Information. The Executive shall hold in a fiduciary capacity for the benefit
        of
        the Company all Proprietary Information, relating to the Company or any of
        its
        affiliated companies, and their respective businesses, which shall have been
        obtained by the Executive during the Executive’s employment by the Company or
        any of its affiliated companies and which shall not be or become public
        knowledge (other than by acts by the Executive or his representatives in
        violation of this Agreement). After termination of the Executive’s employment
        with the Company, the Executive shall not, without the prior written consent
        of
        the Company, communicate or divulge any such Proprietary information, knowledge
        or date to anyone other than the Company and those designated by it. In no
        event
        shall an asserted violation of those designated by it. In no event shall
        an
        asserted violation of the provisions of this Section 12. constitute a basis
        for
        deferring or withholding any amounts otherwise payable to the Executive under
        this Agreement.

      

      13. Successors. 

      

      (a) This
        Agreement is personal to the Executive and without the prior written consent
        of
        the Company shall not be assignable by the Executive. This Agreement shall
        inure
        to the benefit of and be enforceable by the Executive’s representative(s) and
        dependent(s) as detailed herein.

      

      (b) This
        Agreement shall inure to the benefit of and be binding upon the Company,
        its
        respective successors and assigns.

      

      (c) The
        Company will require any successor (whether direct or indirect, by purchase,
        merger, consolidation or otherwise) to all or substantially all of the business
        and/or assets of the Company, respectively to expressly assume and agree
        to
        perform this Agreement in the same manner and to the same extent that such
        party
        would be required to perform it if no such succession had taken place. As
        used
        in this Agreement, “Company” shall mean, respectively, the Company as
        hereinbefore defined and any successor to such party’s business and/or assets as
        aforesaid which assumes and agrees to perform this Agreement by operation
        of
        law, or otherwise.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      14. Miscellaneous.  

      

      (a) This
        Agreement shall be governed by and construed in accordance wit the laws of
        the
        State of Florida, without reference to principles of conflict of laws. The
        captions of this Agreement are not part of the provisions hereof and shall
        have
        no force or effect. This Agreement may not be amended or modified otherwise
        than
        by a written agreement executed by the parties hereto or their respective
        successors and legal representatives.

      

      (b) All
        notices and other communications hereunder shall be in writing and shall
        be
        given by hand delivery to the other party or by registered or certified mail,
        return receipt requested, postage prepaid, addressed as follows:

      

      if
        to the
        Executive:  Patricio
        A Nilo

      3177
        Johnson Str.

      Hollywood,
        FL 33021

      

      if
        to the
        Company:  Bio-Lok
        International Inc.

      312
        S.
        Military Trail

      Deerfield
        Beach, FL 33442

      

      or
        to
        such other address as either party shall have furnished to the other in writing
        in accordance herewith. Notice and communications shall be effective when
        actually received by the addressed.

      

      (c) The
        invalidity in total or in part of any provision of this Agreement shall not
        affect the validity or enforceability of any other provision of this
        Agreement.

      

      (d) The
        Company may withhold from any amounts payable under this Agreement such Federal,
        State or local taxes as shall be required to be withheld pursuant to any
        applicable law or regulation.

      

      (e) The
        Executive’s failure to insist upon strict compliance with any provision hereof
        shall not be deemed to be a waiver of such provision or any other provision
        thereof.

      

      (f) This
        Agreement contains the entire understanding of the Company and the Executive
        with respect to the subject matter hereof.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      IN
        WITNESS WHEREOF, the Executive has hereunto set his hand and, pursuant to
        the
        authorization from each respective Board member of the Company have caused
        this
        Agreement to be duly executed in its corporate name by one of its officers
        or
        directors duly authorized to enter into and execute this Agreement, all as
        of
        the day and year first above written.

       

      
        	 	 	 
	 	Bio-Lok
                International Inc.
	 
 	 
 	 
 
	 	By:  	/s/ Bruce
                L. Hollander
	
                 

              	
                
                  
President

              
	 	 

      

      
        
          	 	 	 
	 	By:  	/s/
                  Ingo K. Kozak
	
                   

                	
                  
                    
Secretary

                
	 	 

        

        
          	 	Executive: 
	 	 	 
	 	  	/s/
                  Patricio A. Nilo
	 	
                  

                  Patricio
                    A.
                    NiloUnassociated Document

    

      Exhibit
        10.5

      

      CLINICAL
        TRIAL AGREEMENT

      

      THIS
        AGREEMENT, effective as of August 19, 2003 (the Effective Date), is by and
        between BIOLOK International, Inc. a corporation organized and existing under
        the laws of the State of Florida and having its offices at 312 South Military
        Trail, Deerfield Beach, Florida 33442 ("Sponsor") and New York University
        College of Dentistry, an administrative unit of New York University an education
        corporation organized and existing under the laws of New York, having its
        offices at 345 East Twenty-fourth Street, New York, NY 10010
        ("NYUCD").

      

      WHEREAS,
        Sponsor desires to conduct clinical trails with respect to such Protocols
        as "A study to compare the BioLok implant system vs. three other dental
implant
        systems with regards to changes in marginal bone level", which will guide
        the
        performance of this Agreement and which has been written by the Sponsor and
        accepted by NYUCD and Principal Investigator.

      

      WHEREAS,
        the research program contemplated by this Agreement is of mutual interest
        and benefit to NYUCD and to the Sponsor, and will further NYUCD's instructional
        and research objectives in a manner consistent with its status as a non-profit,
        tax-exempt educational institution.

      

      NOW,
        THEREFORE, in consideration of the premises and mutual covenants contained
        herein, the parties hereto hereby agree as follows:

       

      1)    Effective
        Date

      

      This
        Agreement shall be effective as of the Effective Date
        and
        shall remain in full force and effect until it expires or is terminated in
        accordance with Section 15 hereof

      

      2)     Scope
        of Work

       

      NYUCD
        shall perform the study described in the Protocol entitled: "A study to compare
        the BioLok implant system vs. three other dental implant systems with regards
        to
        changes in marginal bone level" and attached hereto as Appendix A and
which
        is
        hereby incorporated into and made part of this Agreement ("the Study")
subject
        to and in accordance with the provisions hereof.

       

      3)    Principal
        Investigator

      

      A.    The
        Study
        will be conducted by and under the direction of NYUCD's Dr. Dennis
        Tarnow, (hereafter referred to as "Principal Investigator"). The Principal
        Investigator will be responsible for the direction of the Study in accordance
        with all applicable NYUCD policies and all applicable State and
        Federal laws and regulations. If, during the Performance Period (as hereafter
        defined) the Principal Investigator shall cease to supervise the Study, then
        NYUCD shall so notify Sponsor and shall endeavor to find from among the faculty
        of NYUCD a Principal Investigator or Principal Investigators acceptable to
        Sponsor, which acceptance shall not unreasonably be withheld, this Agreement
        may
        be terminated by either party upon written notice to the other
        party.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      B.    Principal
        Investigator, or, Investigators responsible to the Principal Investigator
        and
        who are identified within the proposal shall distribute the test
        article to subjects. The Principal Investigator shall not commence the Study
        until NYU's Institutional Review Board has given its written approval
        to the Study and to a written informed consent form with respect to
        the
        Study. The Principal Investigator will promptly forward a copy of such
        approval to Sponsor.

      

      C.    The
        Principal Investigator shall not distribute the Study product except to
subjects
        who have given informed consent in writing upon the form approved
        by NYU's Institutional Review Board.

      

      D.    The
        Principal Investigator shall promptly notify the Sponsor by telephone
of
        any
        serious or unexpected adverse reaction experienced by a patient or subject
        in
        the Study, whether or not such has been determined to be attributable
        to the test product. NYU's Institutional Review Board must also
        be
        notified of such reactions. All adverse reactions shall be reported on
        the
        appropriate case report forms.

      

      4.     Performance
        Period

       

      The
        study
        shall be performed during the period of October 10, 2003 to September 31,
        2007
        ("Performance Period"). If at anytime the Principal Investigator has reason
        to
        believe work will not be completed within the Performance Period, the Principal
        Investigator will advise Sponsor of the reason(s) and the length of time
        required to complete
        the study.

      

      5.    Study
        Drug/Device/Product

       

      Sponsor
        shall make available sufficient quantities of test product to carryout the
        Study.
        The Principal Investigator shall take responsible steps to handle, store,
        and
        use such materials in accordance with Appendix A. All such unused materials
        will
        be returned to the Sponsor at the conclusion of the work, unless written
        authorization to destroy
        them is given by the Sponsor.

      

      6.    Payment

      

      A.    In
        consideration of the costs of the Study SPONSOR shall pay NYUCD as set forth
        below.

       

      
        
          	 i.	Payment of $5,000 due upon execution
                  of
                  contract.
	 ii.	Payments of $5,000 per month for
                  the period
                  of October through December
                  of 2003 due upon the first of each month (total
                  $15,000).
	 iii.	Payments of $7,500 per month for
                  the period
                  of January through December
                  of 2004 due upon the first of each month (total
                  $90,000).
	 iv.	Payments of $7,500 per month for
                  the period
                  of January through December
                  of 2005 due upon the first of each month (total
                  $90,000).
	 v.	Payment of $20,000 due upon December
                  1,
                  2006.
	 vi.	Payment of $37,139 will be paid
                  when the
                  investigator has signed the final report.
	 vii.	Invoicable Items are due upon receipt
                  of
                  invoice.

        

      

             
.

      B.    Checks
        will
        be made payable to:

       

              "New
        York University
        College of Dentistry"

              The
        checks should be
        sent to:

              Rene
        Lopez

              Executive
        Administrator

              Bluestone
        Center for
        Clinical Research

              New
        York University
        College of Dentistry

              345
        East
        24th Street

              Room
        231 `W',
        MC:
        9447

              New
        York, NY 100
        10-4086

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      The
        total
        payments which SPONSOR will be obligated to make or cause to be made to NYUCD
        to
        complete Study with the number of subjects specified in the Protocol for
        Study
        shall be set forth in the Budget which shall be attached to this Agreement
        and
        which shall be deemed incorporated herein and subject to all terms and
conditions
        of this Agreement (the "Budget"). In no event shall payments hereunder
exceed
        the amount set forth in the Budget, without the prior written consent of
        SPONSOR.
        If fewer than the anticipated number of subjects complete a Study, then the
        aforementioned payments will be reasonably prorated.

      

      7    
Confidential
        Information

      

      A.    "Confidential
        Information" as used herein shall mean compounds or substances
        and information or data in written, oral or tangible form delivered by or
        on
        behalf of Sponsor hereunder for the performance of the Study
        and
        which is clearly labeled as confidential by Sponsor, or if presented
        in oral form is immediately identified as confidential and is summarized
        and
        labeled in written form as confidential within fifteen (15) days of its oral
        presentation. Confidential Information will not include any information that:
        (i) was known by NYUCD prior to its receipt from Sponsor; (ii) is generally
        publicly known or becomes publicly known subsequent to its receipt from Sponsor
        through no fault of NYUCD;
        (iii) is hereafter
        developed by NYUCD
        independent
        of any disclosure by Sponsor hereunder; or (iv) is received by NYUCD
        from another party not under an obligation of confidentiality to
        Sponsor.

      

      B.    Both
        parties recognize that the industrial standards for handling confidential
        information may not be appropriate in academic settings. However,
        NYUCD
        agrees to retain Confidential Information in such confidence as NYUCD retains
        its own confidential information, not to reveal such Confidential Information
        to
        third parties, except as required by law or regulation, without the prior
        written permission of Sponsor, and to use such Confidential Information only
        for
        the purpose of conducting the research or work hereunder. At the termination
        of
        this agreement all Confidential Information (including copies and unused
        substances) will be returned to Sponsor, except that NYUCD may
        retain one copy of such Confidential
        Information for archival purposes only.

      

      C.    NYUCD
        retains the right to publish any and all of its Study results conditioned
        on the mutually agreed Study Protocols.

      

      D.    Sponsor
        shall have the right to use, copy and distribute as it sees fit any of
the
        published results of the Study, provided that Sponsor may not use the
name
        of
NYUCD
        and
        its Principal Investigator for any public or commercial purposes, including
        advertising, promotional or sales literature or product labeling without
        the
        prior written consent of NYUCD.

      

      E.    NYUCD
        and
        Sponsor shall hold the business terms of this Agreement in confidence and
        shall
        not disclose them or any of them to any third party except with prior written
        consent of the other party or as otherwise required by law or
        regulation.

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      8.    HIPAA

      

      Sponsor
        and Institution agree to comply with the applicable provisions of the
        Administrative Simplification section of the Health Insurance Portability
        and
        Accountability Act of 1996, as codified at 42 U.S.C. § 1320d through d-8
        ("HIPAA"), and the requirements of any regulations promulgated thereunder
        including without limitation the federal privacy regulations as contained
        in 45
CFR
        Part
        164 (the "Federal Privacy Regulations") and the federal security standards
        as contained in 45 CFR Part 142 (the "Federal Security Regulations").
        Sponsor and Institution agree not to use or further disclose any protected
        health information, as defined in 42 U.S.C. § 1320d (collectively, the
        "Protected Health Information"), concerning a patient other than as permitted
        by
        this Agreement and the requirements of HIPAA or regulations promulgated under
        HIPAA including without limitation the Federal Privacy Regulations and the
        Federal Security Regulations. Sponsor and Institution will implement appropriate
        safeguards to prevent the use or disclosure of a patient's Protected Health
        Information other than as provided for by this Agreement. Sponsor and
        Institution will promptly report to the other any use or
        disclosure of a patient's Protected Health Information not provided for by
        this
        Agreement or in violation of HIPAA, the Federal Privacy Regulations, or the
        Federal Security Regulations of which Sponsor or Institution becomes
aware.
        In
        the event Sponsor or Institution, with the other's approval, contracts with
        any
        agents to whom it provides a patient's Protected Health Information,
it
        shall
        include provisions in such agreements whereby it and agent agree to the same
        restrictions and conditions that apply to it with respect to such patient's
        Protected Health Information. Sponsor and Institution will make its internal
        practices, books, and records relating to the use and disclosure of a patient's
        Protected Health Information available to the Secretary of Health and Human
        Services to the extent required for determining compliance with the Federal
        Privacy Regulations and the Federal Security Regulations. Notwithstanding
        the
        foregoing, no attorney-client, accountant-client, or other legal
        privilege shall be deemed waived by Sponsor or Institution by virtue of
this
        Section.

       

      9.    Patents

      

      A.
        NYUCD
        shall promptly disclose in writing to Sponsor any invention made by
        NYUCD,
        its employees or the Principal Investigator during the course of the performance
        of the Study and with respect to the Study PRODUCT. Sponsor shall maintain
        all
        such disclosures in confidence and shall not deliver
        or divulge them to any person. NYUCD hereby grants Sponsor a non-exclusive
        royalty-free license to practice any such inventions and under any patents
        or
        patent applications which NYUCD may file for such inventions.

      

      B.    Sponsor
        shall also have an option to acquire an exclusive license to practice and
        such
        invention and patents and patent applications thereon upon reasonable terms
        and
        conditions, including reasonable royalties, as the
        parties may mutually agree in subsequent writing. The option granted
in
        Section 9.B. shall commence on the date Sponsor receives a disclosure of
        invention, as set forth in Section 9.A. and shall terminate 180 days
        thereafter.

       

      10.    Indemnification

      

      A.    Sponsor
        shall
        defend, indemnify and hold harmless the Institution, the Principal
        Investigator, trustees, officers, agents and employees of Institution
        from any and all liabilities, claims, actions or suites for personal
        injury or death arising out of or in connection with the administration or
        use
        of the Research study test article during the course of the Research, provided
        however:

      
         

        
          
            	 i.	That the Research is conducted
                    in accordance
                    with the Protocol and
                    all written devices and Good Clinical Practice regulations, and
                    in
                    the manner required of a reasonable and prudent clinical investigator
                    or dentist;
	 ii.	That such loss does not arise
                    out of the
                    negligence or willful malfeasance
                    of any Indemnitee;
	 iii.	That
                    the Sponsor is notified as soon as practicable of any complaint,
                    claim, injury relating to any loss subject to the indemnification;
	 iv.	That the Sponsor has sole control
                    over the
                    defense and settlement of any such complaint or claim;
	 v.	That the Sponsor shall have the
                    right to
                    select defense counsel and to
                    direct the defense or settlement of any such claim or
                    suit.

          

        

           

      

      B.    Any
        liability, loss or damage resulting from negligence or willful malfeasance
        by the Principal Investigator, other investigators, the Institution, or their
        trustees, officers, agents and employees is excluded from this agreement
        to
        indemnify, defend and hold harmless.

      

      C.    The
        Institution and the Principal Investigator shall reasonably cooperate
with
        the
        Sponsor and its legal representatives in the investigation and defense
        of any claim or suit covered under this Agreement. In the event a claim
        or
        action is or may be asserted, the Institution shall have a right to select
        and obtain representation by separate legal counsel. If the Institution
        exercises such a right, all costs and expenses incurred by institution for
        such
        separate council shall be borne by Institution.

      

      D.    NYUCD
        agrees that SPONSOR shall not be responsible for any loss to NYUCD,
        its patients or any third parties caused by the failure of SPONSOR
        to deliver the test Product.

      

      E.    Neither
        the Principal Investigator, NYUCD, nor its trustees, officers, agents
        and employees shall comprise or settle any claim or action without the
        prior
        written approval of Sponsor.

      

      11.    Subject
        Injury

       

      The
        Sponsor shall reimburse for reasonable and necessary medical expenses incurred
        by subjects or patients as a direct result of the treatment of adverse reactions
        from study test article following its administration or use in accordance
        with
        the
        Protocol, provided such expenses are not covered by subject's or patient's
        medical/dental or hospital insurance coverage and are no way attributable
        to the negligence or misconduct of any agent or employee of NYUCD.
        No
        other compensation of any type will be provided by the Sponsor to the
        subjects or patients except as required by law

      

      12.    Representations

      

      A.
        SPONSOR MAKES NO EXPRESS OR IMPLIED WARRANTY OF ANY
        KIND.
        SPONSOR SPECIFICALLY DISCLAIMS THE IMPLIED WARRANTY
        OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR
        PURPOSE WITH REGARD TO THE PRODUCTS.

      B.
        NYUCD
        shall be liable for any loss or damage to the Product resulting from
        NYUCD's willful negligent acts or omissions. NYUCD and SPONSOR
        each warrant that each maintain adequate insurance coverage to
        cover
        loss or damage resulting from each party's employees' or agents' performance
        of this project, as set forth in the Clinical Protocol.

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      13.    No
        Assignment

       

      Neither
        party shall have the right to assign, delegate or transfer at any time to
        any
        party, in whole or in part, any or all of the rights duties and interests
        herein
        granted without first obtaining the written consent of the other party to
        such
        assignment.

      

      14.    Use
        of
        Name

      

      Without
        the prior written consent of NYUCD, Sponsor shall not use the name of NYUCD
        or
        of any NYUCD staff member, employee or student, or any adaptation
        thereof;

       

      
        
          
            	 i)	in
                    any advertising, promotion or sales literature
	 ii)	in
                    connection with any public or private offering or in conjunction
                    with any
                    application for regulatory approval, unless disclosure is otherwise
                    required by law, in which case Sponsor may make factual
                    statements concerning the Agreement or file copies of the Agreement
                    after
                    providing NYUCD with an opportunity to comment and reasonable
                    time within
                    which to do so on such statement
                    in draft. Except as provided herein, neither NYUCD nor Sponsor
                    will issue public announcements about this Agreement or the status
                    of the
                    Study without prior written approval of the other party.

          

        

         

      

      15.    Termination

       

      A.    This
        Agreement shall become effective upon the date first hereinabove written
        and shall continue in effect for the full duration of the Performance
Period
        unless sooner terminated in accordance with the provisions of Section
        3.A. or of this Section 15. The parties hereto may, however, extend
        the term of this Agreement for additional periods as desired under mutually
        agreeable terms and conditions, which the parties reduce to writing
        and sign.

      

      B.    In
        the
        event that either party hereto shall commit any breach or default in any
        of the
        terms or conditions of this Agreement, and also shall fail to remedy such
        default or breach within thirty (30) days after the receipt of written notice
        thereof from the other party hereto, the party giving notice may in its opinion
        and in addition to any other remedies which it may have at law or in equity,
        terminate this Agreement by sending notice of termination in writing to the
        other party to such effect, and such termination shall be effective as of
        the
        date of receipt of such notice.

      

      C.    This
        Study and Agreement may be terminated, upon the delivery of written
        notice, for any reason by the Sponsor or NYUCD when in their sole judgment
        or
        that of the Principal Investigator, it is inappropriate, impractical, or
        inadvisable to continue.

      

      D.    Termination
        of this Agreement by either party for any reason shall not affect
        the rights and obligations of the parties accrued prior to the effective
        date
        of
        termination of this Agreement.

      

      E.    Sections
        7, 8, 9, 10, 11, 13 and 14 of this Agreement shall survive expiration
        or termination of this Agreement.

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      16.    Notices

      

      Notices
        required or permitted hereinunder shall be in writing and shall be deemed
        given as of the date it is (A) delivered by hand or (B) received by Registered
        or Certified mail, postage prepaid, return receipt directed, or received
        by
        facsimile and addressed to the party to receive such notice at the address
        set
        forth below. Such notices and communications shall be deemed to have been
        received by the addressee on the date of delivery or fourteen (14) days after
        having been sent by registered mail.

      

      NYUCD:

      

      For
        Technical/Scientific Matters

      

      Principal
        Investigator:

      

      Dennis
        Tarnow

      NYU
        College of Dentistry

      345
        East
        Twenty-fourth Street

      New
        York,
        NY 10010

      

      For
        Administrative Matters

      

      Soo
        Bang

      Director
        of Clinical Trials Services

      550
        First
        Avenue, Building VET, 10 West

      New
        York,
        NY 10016

      

      Sponsor:

      

      Bruce
        L.
        Hollander

      President/CEO

      312
        S.
        Military Trail

      Deerfield
        Beach, FL 33442

      

      17.    Miscellaneous

      

      A.    In
        carrying
        out this Agreement the parties shall comply with all local, state and
        federal laws and regulations.

      

      B.    If
        any
        provision of this Agreement is determined to be invalid or void, remaining
        provisions shall remain in effect.

      

      C.    This
        Agreement shall be deemed to have been made in the State of New York
        and
        shall be governed and interpreted in all respects under the laws of the State
        of
        New York.

      

      D.    This
        Agreement (and the annexed Appendices) constitute the entire Agreement
        between the parties and no variation, modification or waiver of any
        of
        the terms or conditions hereof shall be deemed valid unless made in writing
        and
        signed by both parties hereto. This Agreement supersedes any and all prior
        agreements and understandings, whether oral or written, between Sponsor and
        NYUCD.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      E.    No
        Waiver by
        either party of any non-performance or violation by the other
        party of any of the covenants, obligations or agreements of such other party
        hereunder shall be deemed to be a waiver of any subsequent violation or
        non-performance of the same or any other covenant, obligations or agreement,
        nor
        shall forbearance by any other party be deemed
        to
        be a waiver by such party of its rights or remedies with respect to
        such
        violation of non-performance.

      

      F.    The
        descriptive headings contained in this Agreement are included for the
convenience
        and reference only and shall not be held to expand, modify or aid in the
        interpretation, construction or meaning of the Agreement.

      

      G.    It
        is not the
        intent of the parties to create a partnership of joint venture or to assume
        partnership responsibility of liability. The obligations of the parties shall
        be
        limited to those set out herein and such obligations shall be several
        and not joint.

      

      H.    NYUCD
        and
        Investigator each represents and warrants to Sponsor that it has
        not
        been "debarred" by the United States Food & Drug Administration ("FDA"),
        nor have "debarment proceedings against it been commenced.

      

      NYUCD
        and
        Investigator will immediately notify Sponsor in writing if any such proceedings
        have commenced or if NYUCD and/or investigator is debarred by the
        FDA.

      

      In
        WITNESS WHEREOF, the parties hereto have executed ths Agreement the date
        and
        year first above written.

       

       

      
        
          	
                   NEW
                    YORK UNIVERSITY

                  COLLEGE OF DENTISTRY

                	 	 	 BIOLOK
                  INTERNATIONAL INC
	/s/
                  Louis Terracio     	 	 	/s/
                  Ingo K Kozak
	
                  

                	 	 	
                  

                
	
                  Louis
                    Terracio, Ph.D
Associate Dean for Research
College of
                    Dentistry

                   

                  Date: 09/09/2003

                	 	 	
                  Ingo
                    K Kozak

                  Vice
                    President

                   

                   

                  Date:
                    09/15/2003

                

        

        
          	 AGREED
                  AND CONSENTED TO	 	 	 
	/s/ Dennis
                  Tarnow	 	 	 
	
                  

                	 	 	
                
	
                  Dr.
                    Dennis Tarnow
Principal Investigator

                  Date:
                    09/09/2003

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