Document:

Form of Equipment Lease Agreement

 Exhibit 10.02 
 

 
 Date: 
 Lessee Name:

 Street Address: 
 City, State, Zip:

 Thank you for choosing to do business with Expedition Holdings, Inc. Kindly have the enclosed documents (including the following) completed and mailed
to 23110 State Rd 54 #346, Lutz, FL 33549 or faxed to (813) 283-0388: 
 LEASE AGREEMENT SIGNED BY AN AUTHORIZED OFFICER OR OWNER IF YOU ARE A SOLE
PROPRIETORSHIP AND WITNESSES WHERE REQUIRED, PRINTED NAME AND TITLE AFFIXED, FEDERAL TAX ID NUMBER REFERENCED WITH EACH PAGE OF THE TERMS AND CONDITIONS INITIALED. 
 An executed copy of each of the lease documents attached or enclosed. If mailing, please include the signed copy of your advance fees check (if applicable). If you are sending by fax, please fax a copy of the
completed check and ensure that the signor’s name is printed below the signature (in such a case, we do not need the check mailed to us). 
 A business
check with your legal name in the amount of $                     for advance payments, documentation fees, and other monies owed. If you
would like us to process the check electronically, please mail/fax a copy of the completed and signed check with the signor’s name and title printed below the signature and confirm your authorization by signing below: 
 For the purpose of expediting the commencement of the transaction contemplated by the enclosed documents, you hereby grant us and our agent the right to, at our option,
process any check received from you electronically by transmitting the amount of the check, the routing number, account number, check serial number and other information appearing on the check to our bank. If we choose to utilize this option, by
submitting a check (in original or copy form) for payment, you authorize us and our agent to process such payment through Automated Clearing House (“ACH”) Network electronic fund transfer transactions and initiate an ACH debit from your
bank account. If you have sent us a copy of the check for electronic processing, you should retain the original check for your records. If you have sent us an original check that we or our agent have/has processed electronically, we will stamp the
original check “paid” and will at your request, return or destroy the stamped check. 
 Please Sign Here
>>>>>>                                    
                 
 Please provide us with a copy of your Tax Exempt
Certificate (if applicable). 
 Expedition Holdings, Inc., will REQUIRE proof of insurance coverage on the leased equipment.

 Please forward this checklist to your property and liability insurance company or companies. 
 The following information must be referenced in the Certificate of Insurance: 
  

	 	1.	Specify equipment location as follows: 

  

	 	2.	Single limit public liability damage insurance of not less than $500,000.00 per occurrence naming lessee as insured and Expedition Holdings, Inc. as additional insured.

  

	 	3.	Actual cash value all risk insurance in the amount of
$                    , naming as Loss Payee and Additional Insured. 

  

	 	4.	The Certificate Holder must read as follows: 

 Expedition
Holdings, Inc., its successors and assigns, 23110 State Rd 54 #346, Lutz, FL 33549 
 Please mail or fax your documentation to the following:

 Expedition Holdings, Inc. 
 23110 State Rd 54 #346 
 Lutz, FL 33549 
 Fax: (813) 283-0388 
 Please do not hesitate to contact us at (813) 283-0380 with any questions you may have.
Please reference any questions with your lease number. 

 Lease Agreement 
 Lease Number                      
 Lessee Name: 
 Trade/DBA Name: 
 Address: 
 City, State, Zip: 
 Contact: 
 Equipment Address: 
  

					
	Schedule of Equipment:	  	
	Qty	  	Description and Serial Number	  	Total Cost

  

									
	Schedule of Rental Payments:	  		  	
	Lease Term	  	Total Number of	  	Amount of Each Rental	  	Advance Payment	  	End of Lease
	(in Months)	  	Rental Payments	  	Payment (Plus Taxes)	  	(Plus Taxes)	  	Purchase Option

 Important Notice: We have written this Lease in plain language because we want you to understand its terms. Please
read this Lease carefully. The words “you” and “your” mean the Lessee named below. The words “we”, “us” and “our” refer to the Lessor named below. BY SIGNING THIS LEASE, YOU AGREE TO THE TERMS ON THE
FRONT AND REVERSE SIDES OR SUBSEQUENT PAGES, INCLUDING ALL TERMS AND CONDITIONS. THIS LEASE IS THE COMPLETE AND EXCLUSIVE STATEMENT OF THE AGREEMENT BETWEEN YOU AND US. YOU CERTIFY THAT ALL THE INFORMATION CONTAINED IN THIS LEASE AND YOUR
APPLICATION IS CORRECT AND COMPLETE. THIS LEASE IS NOT BINDING UPON US UNTIL WE SIGN IT. 
 Execution and Delivery of Lease: This Lease will be created and
evidenced as follows (i) we will deliver to you (at the email, facsimile or business address you provide to us ) an electronic (email or facsimile) or paper version of each document to be signed by you, including this Lease and any exhibits or
related documents (each, a “Document”), (ii) you will print (if applicable) and manually sign the signature page of each such Document and deliver to us by facsimile or other means the signed signature page; (iii) we will
manually sign each signature page do delivered by you (if the Document requires your signature); and (iv) we will attach each fully signed signature page to a printed paper copy of the applicable Document. By so signing and transmitting a
Document to us, you confirm your intent to sign such Document and accept its terms. You acknowledge that we are relying upon your promise that you have not modified the Document sent to you for signature. We both intend that each Document produced
by this process which contains our original manual signature shall be for all purposes (including perfection of security interests and admissibility of evidence) the sole original authenticated Document. We will promptly send you a copy of each
fully signed Document and will retain each original authenticated Document, which will be conclusively presumed to be identical to the version signed by you unless you deliver specific written objections thereto within three (3) business days
after receipt of such copy. 
  

							
	LESSOR:	 	Expedition Holdings, Inc.	 	LESSEE:	 	
	By:	 	  
	 	Signature:	 	  

	Name:	 	Jerry Keller, President	 	Name:	 	
	Date:	 	  
	 	Date:	 	
		 		 	FEI #:	 	

 Unconditional Personal: In consideration of Lessor entering into the above Lease in reliance on this Guarantee,
the undersigned, jointly and severally, if more than one, unconditionally and irrevocably guarantees, as primary obligor and not merely as surety, to Lessor, its successors and assigns, the prompt payment and performance of all obligations of Lessee
under the Lease, whether such obligations are now or hereafter existing. The undersigned agrees that (a) this is an absolute, unconditional and continuing guarantee of payment and not of collection and that Lessor can proceed directly against
the undersigned without disposing of any security or seeking to collect from Lessee under the Lease, (b) the undersigned waives all defenses and notices including those of protest, presentment and demand, (c Lessor may renew, extend or
otherwise change the terms of the Lease without notice to the undersigned and the undersigned will be bound by such changes, and (d) the undersigned will pay all of Lessor’s costs of enforcement and collection. This Guarantee survives the
bankruptcy of Lessee and binds the undersigned’s administrators, successors and assigns. The undersigned’s obligations under this guarantee continue even if Lessee becomes insolvent or bankrupt or is discharged from bankruptcy and the
undersigned agrees not to be repaid by Lessee in the event the undersigned must pay Lessor. THIS GUARANTEE WILL BE GOVERNED BY THE LAWS OF THE STATE OF FLORIDA. EACH OF THE UNDERSIGNED AGREES TO JURISDICTION AND VENUE IN THE STATE OF FLORIDA, COUNTY
OF HILLSBOROUGH. Each of the undersigned authorizes Lessor to conduct an investigation of his/her/its credit history and directs his/her/its creditors (including banks, leasing companies and trade suppliers) to release information regarding
his/her/its credit to Lessor, it successors and assigns. Each of the undersigned authorizes Lessor to release all information that Lessor may possess about him/her/it to any prospective purchaser of the Lease. 
  

							
	Guarantor:	 		 	Guarantor:	 	
	Signature:	 	  
	 	Signature:	 	  

	Printed Name:	 	  
	 	Printed Name:	 	  

	SSN #	 	  
	 	SSN #	 	  

 Terms and Conditions 
 1. COMMENCEMENT OF LEASE; RENTAL PAYMENTS. You agree to lease from us the Equipment described in this Lease and remit to us Rental Payments (and applicable taxes) for the full Lease Term. Rental Payments will
include any freight, delivery, installation and other expenses we finance on your behalf at your request. When you receive the Equipment, you agree to inspect it and to verifier by telephone such information as we may require or, at our request,
send us a written certificate of acceptance. We do not have to accept this Lease and we are not obligated to purchase a unit of Equipment from Supplier or lease a unit of Equipment to you unless on or before the Last Funding Date indicated on the
cover page of this Lease (which is the date the credit approval for this Lease expires): (a) we have received all required documentation in satisfactory form and substance, (b) you have accepted the Equipment in accordance with the terms
set forth below, (c) we have received any required Advance Payment, (d) no material adverse change in your business, operations or financial condition occurs, and (e) no Event of Default as described in Section 10 occurs and is
then continuing. If we do not accept this Lease, we will return to you any Advance Payment. If all the conditions precedent set forth above have been met and we have accepted this Lease, the Lease Term begins on the date you accept the Equipment
(the “Lease Commencement Date”). ONCE WE ACCEPT THIS LEASE, YOU MAY NOT CANCEL IT DURING THE LEASE TERM. If the Lease Commencement Date is not the first or the fifteenth day of any calendar month (a “Payment Date”), the Lease
Term will be extended by the number of days between the Lease Commencement Date and the Payment Date which first occurs after the Lease Commencement Date, and your first payment will be increased by 1/30th of the monthly Rental Payment multiplied by
the number of days elapsed from the Lease Commencement Date to the day immediately preceding the first Payment Date after the Lease Commencement Date. You authorize us to change the Rental Payment by not more than 15% due to changes in the Equipment
configuration or other factors affecting Equipment Cost which may occur prior to our acceptance of this Lease. We will advise you of the due date of each Rental Payment and the address to which you must send your payments, but our failure to so
advise you will not release you of your obligations under this Lease. Rental Payments are due whether or not you receive an invoice. Unless otherwise required by applicable law, we are not required to refund any Rental Payment, pay any interest on
any Advance Payment, or keep any Advance Payment in a separate account. We may apply the Advance Payment to any amount you owe us under this Lease. Lease Rate Factor: Your periodic Rental Payments are calculated using a lease rate factor (the
“Lease Rate Factor”). The Lease Rate Factor is calculated, in part, using an interest rate based on the interest rate for swaps (the “Swap Rate”) that most closely approximates the initial term of this Lease as published in the
Federal Reserve Statistical Release H.15 available at http://www.federalreserve.gov/releases/hl5/uodate on or about the date this Lease is prepared by us (the “Initial Rate Date”). The Lease Rate Factor and your periodic Rental Payments
may be adjusted if the Swap Rate as reported four (4) business days prior to acceptance of the Equipment is different than the Swap Rate as reported on the Initial Rate Date. We will notify you if the Lease Rate Factor changes. Notwithstanding
the foregoing, if this is a Stated Purchase Option Lease and the Lease Rate Factor is provided to you on or before December 31” of any calendar year, but the Lease Commencement Date is on or after January 1st of the following calendar
year, then the Lease Rate Factor and your periodic rental payment will be adjusted to preserve our tax economic yields and cash flows and we will notify you of any such adjustments. 
 2. TAXES. You agree to pay us, when invoiced, all sales and use taxes and other similar charges imposed relative to this Lease, the Rental Payments or the Equipment. If the Purchase Option amount is $1.00 (a
“Dollar Purchase Option”), you agree to file any required personal property tax returns and if we ask, provide us with proof of payment. If the Purchase Option amount is other than $1.00 (a ‘Stated Purchase Option”), you agree at
our option to either (a) reimburse us for all personal property taxes which we may be required to pay as the owner of the Equipment or (b) remit to us each month our estimate of the monthly equivalent of the annual personal property taxes
to be assessed. If an increase in the federal corporate income tax rate or a change in the “accelerated cost recovery deductions” allowed by the Internal Revenue Code of 1986, as amended, adversely affects our after-tax earnings on this
Lease, we may increase the Rental Payments to offset such adverse effect and a change in the Rental Payments is effective on the effective date of such increase. 
 3. NET LEASE. THIS LEASE IS A NET LEASE AND YOUR PAYMENT OBLIGATIONS HEREUNDER ARE ABSOLUTE AND UNCONDITIONAL AND ARE NOT SUBJECT TO CANCELLATION, ABATEMENT, REDUCTION, RECOUPMENT, DEFENSE OR SETOFF FOR ANY REASON WHATSOEVER

 4. OWNERSHIP. If this Lease provides for a Dollar Purchase Option, you will have title to the Equipment and will be deemed to be the owner of
the Equipment and will be entitled to all tax benefits. If this Lease provides for a Stated Purchase Option, we will have title to the Equipment unless and until you exercise any Purchase Option available to you at the end of the Lease Term. To
secure your obligations to us under this Lease, you grant us a first priority security interest in the Equipment and all related proceeds. You irrevocably grant us the power to prepare, sign on your behalf (if applicable), and file, electronically
or otherwise, a financing statement and any amendment thereto or continuation thereof relating to the Equipment, and containing any other information required by the applicable Uniform Commercial Code. At our request, you will attach identifying
labels supplied by us showing our interest in a prominent position on each unit of Equipment. 
 5. MAINTENANCE. You will, at your own expense,
(a) keep the Equipment in good repair, condition and working order, ordinary wear and tear excepted, free of all claims, liens and encumbrances of any kind or nature, (b) not move the Equipment from the Equipment Location without our prior
written consent, (c) use the Equipment solely for commercial purposes in the manner for which it is intended and in compliance with all applicable laws and manufacturer requirements or recommendations, (d) perform all service and
maintenance requirements described in the operator’s and instrument manuals provided by the manufacturer or Supplier and keep the Equipment eligible for any manufacturer’s warranty certification, and (e) give us reasonable access to
inspect the Equipment and its maintenance and other records. All additions, upgrades, replacement parts and attachments will become part of the Equipment unless they can be easily removed without damage to the original Equipment You will not attach
any of the Equipment to any real estate. Upon our reasonable request and at your cost, you will get each person with an interest in the real estate where the Equipment is located to waive any rights they may have in the Equipment. 
 6. DISCLAIMER OF WARRANTIES. You have selected the Equipment. You acknowledge that the Supplier, the manufacturer of the Equipment and their respective
representatives are not our agents and are not authorized to modify the terms of this Lease. You are aware of the name of the manufacturer or Supplier of each item of Equipment and you will contact the manufacturer or Supplier for a description of
your warranty rights. You agree to settle any dispute you may have regarding performance of the Equipment with the manufacturer or Supplier of the Equipment. WE ARE LEASING THE EQUIPMENT TO YOU “AS-IS”. WE HAVE NOT MADE AND DO NOT MAKE
ANY EXPRESS OR IMPLIED REPRESENTATIONS OR WARRANTIES REGARDING THE EQUIPMENT INCLUDING, WITHOUT LIMITATION, ITS DESIGN, MERCHANTABILITY, SUITABILITY, FITNESS FOR A PARTICULAR PURPOSE OR OTHERWISE. WE SHALL HAVE NO LIABILITY TO YOU OR ANY THIRD PARTY
FOR ANY DIRECT, INDIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES RELATING TO THE EQUIPMENT OR THIS LEASE. WE WILL NOT BE LIABLE FOR SPECIFIC PERFORMANCE OF THIS LEASE OR FOR ANY LOSSES, DAMAGES, DELAY OR FAILURE TO DELIVER THE EQUIPMENT. THIS LEASE
CONSTITUTES A “FINANCE LEASE” AS DEFINED IN ARTICLE 2A OF THE UNIFORM COMMERCIAL CODE. You agree to waive all rights and remedies conferred upon a lessee by Article 2A (Sections 508-522) of the Uniform Commercial Code. To the extent
permitted by applicable law, you also hereby waive any rights now or hereafter conferred by statute or otherwise that may limit or modify any of our rights or remedies under this Lease, including any rights you may have which require us to
(a) sell any Equipment to mitigate damages or (b) provide you with notices of default, intent to accelerate amounts becoming due or acceleration of such amounts. If you signed a purchase order for the Equipment, you assign to us, without
further action on your or our part, all of your rights but none of your obligations with respect to the Equipment and any proceeds thereof and agree to, upon our request, obtain consent from the manufacturer or Supplier of Equipment with respect to
such assignment. Unless you are in default under this Lease, you may at your own expense enforce all warranties and other rights directly against the manufacturer. 
 7. INDEMNITY. You axe responsible for, and agree to defend and indemnity us against, all losses, damages, claims, injuries and attorneys’ fees incurred or asserted by any person that relate to the Equipment. We reserve the right
to control the defense and to select or approve defense counsel. This indemnity survives the expiration or termination of this Lease. If this Lease provides for a Stated Purchase Option, you agree that it was entered into on the assumption that we
will be entitled to certain tax benefits available to the owner of the Equipment, and you agree to indemnity us for the loss of any income tax benefits caused by your acts or omissions. 
 8. LOSS OR DAMAGE. If any item of Equipment is lost, stolen or damaged, you will (and Rental Payments will continue to accrue without abatement until you), at your option and cost, either (a) repair the
item or replace the item with a comparable item reasonably acceptable to us, or (b) pay us a sum equal to (I) all Rental Payments and other amounts then due and payable under this Lease, and (2) the present value of (i) all
Rental Payments to become due during the remainder of the Lease Term, and (ii) the Purchase Option amount set forth in this Lease, each discounted at (x) 6% per annum if this Lease provides for a Stated Purchase Option, (y) the
lease charge rate (as determined pursuant to Section 16) if this Lease provides for a Dollar Purchase Option, or (z) if such applicable rate is not permitted by law, then at the lowest rate permitted by law (collectively referred to as the
“Net 1300k Value”). We will then transfer to you all our right, title and interest in the Equipment “AS-IS, WHERE-IS” WITHOUT ANY REPRESENTATION OR WARRANTY WHATSOEVER Insurance proceeds will be applied toward repair or
replacement of the Equipment or payment hereunder, as applicable. 
 9. INSURANCE. You are responsible for loss and damage to the Equipment from any
cause whatsoever on and after delivery thereof. You agree, at your cost to: (a) keep the Equipment insured against all risks of physical loss or damage for its full replacement value, naming us as loss payee; and (b) maintain public
liability insurance, covering personal injury and property damage in such amount as we require, naming us as additional insured. Prior to commencement of this Lease and at any time upon our request, you must provide us with evidence of an occurrence
type insurance policy covering such risks and liabilities issued by an insurance carrier acceptable to us. The policy must provide us with not less than 15 days’ prior written notice of cancellation, non-renewal or amendment, and must provide
deductible amounts acceptable to us. 

 Terms and Conditions 
 10. DEFAULT. An Event of Default will occur if: (a) we do not receive any Rental Payment or other payment within 10 days of its due date, (b) you or any guarantor of your obligations under this Lease
(“Guarantor”) do not perform any of your or any Guarantor’s other obligations under this Lease or such Guarantor’s guaranty, and such failure continues for 10 days after we notify you of it, (c) any representation you have
made in this Lease or any Guarantor has made in its guaranty shall prove to have been false or misleading in any material respect (d) you or any Guarantor become insolvent, are liquidated or dissolved, merge, transfer substantially all of your
or its stock or assets, stop doing business or assign your or its rights or property for the benefit of creditors, (e) a petition is filed by or against you or any Guarantor under any bankruptcy or insolvency law, (t) if you are a sole
proprietorship, you die or have a guardian appointed, (g) any Guarantor dies or has a guardian appointed, or (h) you default on any other agreement between you and us (or our affiliates). 
 11. REMEDIES. If an Event of Default occurs, we may, in our sole discretion, do any or all of the following: (a) cancel or otherwise terminate this Lease or
any other Lease or agreement between you and us, (b) require you to immediately pay us, as compensation for loss of our bargain and not as a penalty, a sum equal to the Net Book Value, (c) require you to return the Equipment in accordance
with Section 13, (d) repossess the Equipment without court order and you will not make any claims against us (Or our agent) for damages or trespass or any other reason if we take such action, and (e) exercise any other right or remedy
available at law or in equity. You agree to pay all of our costs of enforcing our rights against you, including attorneys’ fees. We may, but will have no obligation to, sell or otherwise dispose of the Equipment, with or without notice to you,
at a public or private sale, and without any duty to account to you with respect to such action or inaction or for any proceeds with respect thereto. You agree that (a) if notice of sale is required by law, five days advance notice Will
constitute reasonable notice, (b) we may apply the proceeds of any sale or other disposition of the Equipment (after deducting all costs and expenses related to the repossession, sale or other disposition) to the amounts you owe us,
(c) you will remain responsible for any balance which may remain after we apply such net proceeds, and (d) we will retain all rights and remedies even if we do not choose to enforce them at the time of your default. If this Lease provides
for a Dollar Purchase Option and we receive more than the Net Book Value plus our costs and expenses, we will remit any excess to you. 
 12. END OF LEASE
OPTIONS. If this Lease provides for a Dollar Purchase Option and you are not in default, we will release any security interest we have in the Equipment at the end of the Lease Term. If this Lease provides for a Stated Purchase Option and you are
not in default, you will have the option at the end of the Lease Term to(s) return the Equipment in accordance with Section 13, (b) extend the Lease Term for a new term upon the terms and conditions set forth in this Lease, or (c) on
60 days advance written notice to us, purchase all but not less than all of the Equipment for the Purchase Option amount (and all applicable taxes). If the Purchase Option is stated as a percentage, the Purchase Option amount will be the product of
such percentage multiplied by the final Equipment Cost. If the Purchase Option is stated as FMV, FMV will mean the fair market in place value of the Equipment at the end of the Lease Term, assuming good condition (except for ordinary wear and tear),
as estimated by us. Upon payment of the applicable amount, we will transfer the Equipment to you “AS IS, WHERE IS” WITHOUT ANY REPRESENTATION OR WARRANTY WHATSOEVER. IF YOU FAIL TO EXERCISE THE PURCHASE OPTION, ALL OF YOUR OBLIGATIONS
UNDER THIS LEASE WILL CONTINUE UNTIL THE EQUIPMENT IS RETURNED IN ACCORDANCE WITH SECTION 13. 
 13. RETURN OF EQUIPMENT. If (a) an Event of Default
occurs, (b) you do not purchase the Equipment at the end of the Lease Term, or (c) you do not extend the Lease Term, at your cost and risk you will promptly (i) place the Equipment in good order and condition (except for ordinary wear
and tear from normal use), (ii) cause the Equipment to be disassembled, deinstalled, inspected, tested and crated in accordance with the manufacturer’s recommendations and any and all local, state and federal regulatory requirements then
in effect, (iii) immediately return the Equipment, freight and insurance prepaid, at your risk to any location and aboard any carrier we may designate in the continental United States, and (iv) pay a return fee of $100, not to exceed the
maximum permitted by law, as reasonable compensation for our costs in processing returned Equipment. Any such Equipment will be accompanied by all accessories originally included with the Equipment, qualifies (if applicable) for continued
maintenance under a manufacturer’s service and maintenance contract, and includes the latest software release provided by the manufacturer or Supplier to you. You will continue to remit Rental Payments until the first day of the month which
follows the date the Equipment is received by us in the condition required by this Lease. 
 14. ASSIGNMENT. YOU WILL NOT SELL, ASSIGN OR SUB-LEASE THE
EQUIPMENT OR YOUR INTEREST IN THIS LEASE, OR FILE OR PERMIT A LIEN TO BE FILED AGAINST TILE EQUIPMENT. We may, without notifying you, (a) release any information we possess you and this Lease to any prospective investor, participant or
purchaser of this Lease, and (b) sell, assign, or transfer this Lease and our interests in the Equipment. You agree that the new owner or any of our assignees and transferees will have the same rights and benefits that we now have under this
Lease but none of our obligations. The rights of the new owner or any of our assignees and transferees will not be subject to any claim, defense, or set-off that you may have against us. 
 15. PAST DUE PAYMENTS. We may charge you slate charge equal to 10% of any late payment, but not more than the highest legal rate. Any Rental Payments not made when due and other payment obligations incurred as
a result of an Event of Default will accrue interest at the lower of 18% per annum or the highest legal rate from their due date until paid. 
 16.
COMPLIANCE WITH LAWS. You understand that the Equipment may be purchased for cash for an amount equal to the cost thereof or it may be leased. By signing this Lease, you acknowledge that you have chosen to lease the Equipment from us for the
Lease Term and agreed to remit Rental Payments and other sums to us. If this Lease provides for a Dollar Purchase Option, or a Stated Purchase Option that constitutes a nominal percentage of the Equipment Cost, each Rental Payment includes a
principal amount based on the Equipment Cost and a lease charge rate. The lease charge portion of the Rental Payment can be determined by applying to the Equipment Cost the rate that will amortize the Equipment Cost down to the Purchase Option
amount by remittance of the Rental Payments. The lease charge rate may be higher than the actual annual interest rate because of the amortization of certain costs and expenses incurred by us. WE BOTH INTEND TO COMPLY WITH ALL APPLICABLE LAWS. IF
IT IS DETERMINED THAT YOUR PAYMENTS UNDER THIS LEASE RESULT IN AN INTEREST PAYMENT HIGHER THAN ALLOWED BY APPLICABLE LAW, THEN ANY EXCESS INTEREST COLLECTED WILL BE APPLIED TO AMOUNTS THAT ARE LAWFULLY DUE AND OWING UNDER THIS LEASE OR WILL BE
REFUNDED TO YOU. IN NO EVENT WILL YOU BE REQUIRED TO PAY ANY AMOUNTS IN EXCESS OF THE LEGAL AMOUNT. 
 17. YOUR REPRESENTATIONS. You represent and
warrant that (a) you have the lawful power and authority to enter into this Lease, (b) the individuals signing this Lease have been duly authorized to do so on your behalf, (e) by entering into this Lease you will not violate any law
or other agreement to which you are a party, (d) you are not aware of anything that will have a material adverse effect on your ability to satisfy your obligations under this Lease, (e) all financial information you have provided and will
provide to us is true, correct and complete and provides an accurate representation of your financial condition, and (I) the location of your chief executive office state of incorporation or organization, exact legal name, place of residence
and organizational identification number, as applicable, have been correctly identified to us. 
 18. MISCELLANEOUS. You agree that during the Lease
Term (a) you will promptly notify us in writing if there is a change in the name, Ownership, state of incorporation or formation or organizational number (if any) of your business, or if there is a change in your ownership, (b) you will
provide such financial information we may reasonably request, (c) you will take any action we reasonably request to protect our rights in the Equipment and this Lease, and (d) we may insert missing information or correct obvious errors or
your legal name in this Lease without further notice to you. This Lease constitutes the entire agreement between you and us and supersedes any conflicting equipment purchase order or other written or oral agreement. Except as noted in clause
(d) above, no modification of this Lease will be binding unless in writing and signed by you and us. You authorize us (Or our agent) to (i) obtain personal credit bureau reports, (ii) make all other credit inquiries we deem necessary,
and (iii) furnish payment history information to credit reporting agencies. You agree to pay us a fee shown on the cover page of this Lease to cover our documentation and investigation costs. Any claim you have against us must be made within
one year after the event that caused it. TIME IS OF THE ESSENCE IN THIS LEASE. If a court finds any provision of this Lease to be unenforceable, the remaining terms will remain in effect. If you fail to comply with any provision of this Lease, we
have the right but not the obligation to have such provision brought into compliance and all expenses we incurred in bring about such compliance will be considered a Retrial Payment which is due within five (5) days after the date we send to
you a written request for payment. All our and your written notices must be sent by certified or first class mail or recognized overnight delivery service, postage prepaid, to you at your address set forth on the cover page of this Lease or our
address at 1010 Thomas Edison Boulevard S.W., Cedar Rapids, Iowa 52404, Telephone No.: (800) 535-1480, or by facsimile transmission to you at your facsimile telephone number set forth on the cover page of this Lease or to us at our facsimile
telephone number (319) 841.6324, with oral confirmation of receipt. At any time after this Lease is signed, you or we may change an address or facsimile telephone number by giving notice to the other of the change. You hereby acknowledge and
confirm that you have not received any tax, financial, accounting or legal advice from us, the manufacturer or Supplier of the Equipment. 
 19. CHOICE OF
LAW. THIS LEASE WILL BE GOVERNED BY THE LAWS OF THE STATE OF FLORIDA. BOTH PARTIES CONSENT TO THE JURISDICTION AND VENUE OF FEDERAL AND STATE COURTS IN FLORIDA FOR ALL DISPUTES ARISING UNDER THIS LEASE AND WAIVE ANY RIGHTS TO A JURY TRIAL IN ANY
ACTION ARISING UNDER THIS LEASE. 
 20. COUNTERPARTS. This Lease may be executed in separate counterparts, all of which shall together constitute
one and the same instrument. IF THIS LEASE CONSTITUTES CHATFEL PAPER (AS DEFINED IN THE UNIFORM COMMERCIAL CODE IN EFFECT IN ANY APPLICABLE JURISDICTION), NO SECURITY INTEREST IN THIS LEASE MAY BE CREATED THROUGH THE TRANSFER OR POSSESSION OF ANY
COUNTERPART OTHER THAN THE ORIGINAL COUNTERPART IDENTIFIED BY US AS THE SOLE ORIGINAL CHATFEL PAPER COPY. 
 (Lessee: Please initial here
                     to confirm that you have received and read both pages of the Terms and Conditions)Purchase and Supply Agreement dated September 1, 2005

 EXHIBIT 4.11 
 Purchase and Supply Agreement 
 Between 
 Lexar Media, Inc. 
 And

 Silicon Motion Technology Corporation 
  

 This Purchase and Supply Agreement (“Agreement”) is entered into as of
September 1, 2005 (the “Effective Date”), by and between Lexar Media, Inc., a Delaware corporation, with its principal office at 47300 Bayside Parkway, Fremont, California, 94538 (hereinafter referred to as
“Lexar”) and Silicon Motion Technology Corporation , a Cayman Island corporation, with its principal office at No 20-1, Taiyuan Street, Jhubei City, Hsinchu County, Taiwan (hereinafter referred to as “Silicon
Motion”). 
 In consideration of the mutual promises contained in this Agreement, the parties agree as follows: 
 1. PRODUCT AND PRICE. During the Effective Term, Silicon Motion shall sell to Lexar or Lexar’s designated subcontractors and Lexar or
Lexar’s designated subcontractors shall purchase from Silicon Motion the controllers defined on Exhibit A hereto (the “Product”). Silicon Motion represents, warrants, and agrees that the prices charged for the
Product: (a) will not be higher than the price set forth on Exhibit A; and (b) will be the best price at which on the same or similar products were sold or offered for sale by Silicon Motion or any of its affiliates to any other customer
during the quarter in which the Product was sold to Lexar or Lexar’s designated subcontractors. 
 2. FORECAST AND SUPPLIER MANAGED
INVENTORY. At the end of each month, Lexar will supply to Silicon Motion a non-binding ninety (90) day rolling forecast prepared on a best efforts basis (the “Forecast”). Silicon Motion agrees to negotiate with Lexar in good faith
to reach an agreement regarding a supplier managed inventory program with Lexar and/or Lexar’s designated contract manufacturer pursuant to which Silicon Motion will maintain a buffer stock of Product at inventory target levels based on the
Forecast. Furthermore, Lexar will use good faith efforts to purchase a pre-determined quantity of Product defined on Exhibit B (“Estimated Purchase Quantity”) during the 2005 fiscal calendar year, subject to market
conditions and competitive product pricing and other terms. In addition, Lexar agrees to buy majority of its total controller requirements from Silicon Motion during the 2005 and 2006 fiscal calendar years. 
 3. REPORTING. During the Effective Term, Lexar shall provide Silicon Motion with quarterly tracking reports detailing which products Lexar has
purchased from any Lexar subcontractor where product includes any Silicon Motion controller. The tracking report will include date of purchase order, quantity purchased, quantity received and date received. The tracking report will be furnished to
Silicon Motion no later than 30 days following the end of each fiscal quarter. 
 4. ORDERS: 
 4.1. Purchase and delivery of Product shall be made pursuant to purchase orders (each, a “Purchase Order”) that are issued in
writing by Lexar or Lexar’s designated subcontractors. All Purchase Orders shall be placed to Silicon Motion no later than twenty-one (21) calendar days prior to the delivery date, and shall be acknowledged and accepted in writing by
Silicon Motion within three (3) business days of receipt of such Purchase Order, and Silicon Motion shall confirm the scheduled delivery date (the “Acknowledgement”). Unless expressly rejected in writing within such time
frame, failure to acknowledge and accept the Purchase Order shall be deemed to be acknowledgement and acceptance by Silicon Motion. Terms and conditions not explicitly covered by this Agreement will be governed by the Purchase Order. The provisions
of the Acknowledgment shall not apply. In 

 
case of any conflict between the terms and conditions of this Agreement and the terms and conditions of any Purchase Order, the terms and conditions of this
Agreement shall prevail. 
 4.2 Lexar may not reschedule delivery of Product if Silicon Motion’s current ship date is scheduled to occur
within fifteen (15) days of receipt of Lexar’s reschedule notice. Beyond such fifteen (15) day period and at no cost to Lexar, Lexar may reschedule shipment of such Product at any time. 
 5. DELIVERY OF PRODUCT. 
 5.1 Silicon
Motion will package and ship the Product in accordance with standard commercial practices. The Product will be shipped Ex-Works to the location specified on the Purchase Order at Lexar’s expense and risk. Lexar may choose the method of shipment
in its discretion. 
 5.2 Silicon Motion acknowledges and agrees that the scheduled delivery date is a material term of this Agreement, and
that time is of the essence for all deliveries of Products. If Silicon Motion is unable to deliver Products ordered by Lexar or Lexar’s designated subcontractors on the delivery date as specified in the purchase order, Silicon Motion shall
notify Lexar within two (2) working days of Silicon Motion’s knowledge of late delivery. Silicon Motion shall provide Lexar with a two percent (2%) reduction in material cost for Product received after the delivery date specified in
the Purchase Order, except for any reason which is not attributable to Silicon Motion or Silicon Motion’s subcontractors. Without limiting Lexar’s rights or remedies, in the event that the parties cannot agree on a revised delivery date or
the late delivery has impacted a Lexar customer order, except for any reason of the change or delay which is not attributable to Silicon Motion or Silicon Motion’s subcontractors, Lexar may (A) cancel the affected Purchase Order without
penalty, (B) require that Silicon Motion expedite Product delivery or accept any reschedule in the affected purchase order as Lexar may require (and Silicon Motion agrees to bear the additional cost of such expedited shipments and any other
costs incurred to deliver the Products on or before the delivery date), or (C) purchase the Products from another vendor. Silicon Motion will not deliver in advance of scheduled delivery without the prior written consent of Lexar. 

6. PAYMENT TERMS. Payment is due net forty-five (45) days from the date of the invoice. Silicon Motion may withhold or suspend shipment or
other performance hereunder, in whole or in part, in the event that Lexar fails to make any payment according to the terms set forth herein, or otherwise fails to perform its obligations. 
 7. PRODUCT RETURNS. If Lexar rejects a delivery of a shipment or if Lexar desires to return part or all of a shipment to Silicon Motion pursuant
to the warranty provisions of Section 10, then Lexar will, in each instance, first obtain a Return Material Authorization (“RMA”) number from Silicon Motion and will use reasonable efforts to make such a return in
accordance with the terms and conditions of Silicon Motion’s RMA procedure. Silicon Motion will be responsible for and will pay all shipping costs, including without limitation, insurance and freight charges (the “Shipping
Costs”), incurred by Lexar in connection with shipping to Silicon Motion as well as for any Shipping Costs for shipping replacements to Lexar, unless Silicon Motion can demonstrate to Lexar that the items returned to Silicon Motion do
not exhibit any nonconformities or defects. 
 8. TERM. This Agreement shall be effective for two (2) years from the Effective
Date, unless terminated earlier as set forth in Section 9 (the “Effective Term”). The Effective Term may be extended for an additional one (1) year period by the mutual written agreement of the parties. 

9. TERMINATION. 
 (a) Either party may terminate this Agreement immediately, without notice: (i) upon the institution by the other party of insolvency, receivership or bankruptcy proceedings; (ii) upon the expiration of a sixty (60) calendar
days period immediately following the institution of insolvency, receivership or bankruptcy proceedings by a third party against the other party if such proceedings have not resolved in the favor of the other party within such sixty
(60) calendar days period; (iii) upon the other party’s making an assignment for the benefit of creditors; or (iv) upon the other party’s dissolution. 

 (b) Either party may terminate this Agreement if the other party breaches any material
term or condition of this Agreement and fails to cure such breach within thirty (30) calendar days following receipt of written notice from the non-breaching party. 
 10. WARRANTY. Silicon Motion warrants that the Products sold hereunder are new, free from defects in material and workmanship, free from liens, and will conform to the Product’s specifications therefor
under normal use and service for a period of twelve (12) months following date of shipment by Silicon Motion and that Silicon Motion has the right and/or necessary licenses to manufacture and sell the Product and does not infringe or
misappropriate any third party’s intellectual property rights. In the event of a warranty claim, Lexar shall notify Silicon Motion, during the warranty period of the alleged nonconformance, obtain an RMA for the nonconforming Products (which
Silicon Motion shall not unreasonably withhold or delay), and return the non-conforming Products, freight prepaid, to Silicon Motion’s designated facility, along with a written statement describing the nonconformity. The obligations of Silicon
Motion under this warranty are limited to, at Silicon Motion’s option, repairing or replacing the Products within thirty (30) days of receipt thereof, or promptly refunding to Lexar the purchase price and Shipping Costs therefor.
Replacements supplied by Silicon Motion under this Section 10 will be warranted for the period of time remaining in the original warranty, but not less than thirty (30) days. EXCEPT FOR THE WARRANTIES GRANTED IN THIS AGREEMENT, SILICON
MOTION GRANTS NO OTHER WARRANTIES, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO A WARRANTY OF MERCHANTIBILITY OR FITNESS FOR A PARTICULAR PURPOSE. 
 11. INDEMNIFICATION. 
 11.1 Obligation To Indemnify. Silicon Motion will, to the maximum
extent permitted by law, indemnify, defend and hold harmless, on a worldwide basis, Lexar, Lexar’s subsidiaries and affiliates and its and their customers (including without limitation end users, distributors and resellers), officers,
directors, employees, agents and representatives (individually, an “Indemnitee” and collectively, “Indemnitees”) from and against any claims, demands, suits, actions, costs, expenses, damages,
settlements, judgments, and all other liabilities including reasonable attorneys’ fees, relating to or arising out of any allegation (even though such allegations may be false, fraudulent or groundless) that: (i) any products purchased by
Lexar or its designated subcontractors from Silicon Motion at any time pursuant to this Agreement or otherwise (the “Indemnified Product”), any combination of any Indemnified Product with any other product or part, or the
manufacture, use, sale, offer for sale, importation or distribution of any Indemnified Product or any combination of any Indemnified Product with any other product or part, constitutes an unauthorized use, misappropriation or infringement of any
intellectual property rights of any third party or parties (all of the foregoing described in clause (i) being referred to as an “IP Claim”); (ii) death or injury to any person, damage to any property, or any
other damage or loss, by whomsoever suffered, resulting or claimed to have resulted from any actual or alleged defect in the Indemnified Product caused by Silicon Motion or its agents, whether latent or patent, including actual or alleged improper
construction and/or design of the Indemnified Product, or actual or alleged failure of the Indemnified Product to comply with any specifications or samples or with any express or implied merchantability warranties of Silicon Motion or any claim of
strict liability in tort relating to any Indemnified Product, and/or (iii) the manufacture, possession, use or sale of the Indemnified Product violated any federal, state or local laws, regulations, ordinances or administrative orders or rules
of the U.S. or any other country in which the Indemnified Product is produced or delivered (all of the foregoing described in clauses (i), (ii) and (iii) being referred to as a “Claim”). Silicon Motion will have the
same duty to indemnify, defend and hold harmless Indemnitees as set forth in the previous sentence in cases where any of the following applies with respect to an IP Claim or alleged IP Claim when: (a) there is a breach of an intellectual
property warranty by Silicon Motion; (b) Silicon Motion is a direct infringer; (e) Silicon Motion is a contributory infringer; or (d) Silicon Motion has induced infringement. Without limiting the generality of the foregoing, Silicon
Motion will pay, as incurred, all claims, liabilities, losses, damages, judgments, awards, costs and expenses including reasonable attorneys’ fees, expert witness fees and bonds incurred by Indemnitees and will pay any award in connection with,
arising from or with respect to any such Claim or agreed to in any settlement of that Claim. The obligations of Silicon Motion are subject to the following conditions: Subject to Section 11.2 Lexar shall (i) give Silicon Motion prompt
notice in writing of any such claim or action (however, failure to give such notice shall not relieve Silicon Motion of its indemnification 
 obligations
unless Silicon Motion can show that such failure resulted in actual prejudice to Silicon Motion); 

 
(ii) provide Silicon Motion with proper and full information, assistance and authority, as required and at Silicon Motion’s expense, in order to
assist Silicon Motion in defending the claim or action; and (iii) give Silicon Motion sole authority to control the defense and settlement of the claim. 
 11.2 Defense of Claim. In its sole discretion, Lexar shall be entitled to undertake the defense of any Claim with counsel of its own choice, and Silicon Motion will provide Lexar the authority, information and
reasonable assistance (at Silicon Motion’s expense) necessary to defend. Furthermore, Silicon Motion shall reimburse Lexar on a monthly basis for all costs and expenses incurred by Lexar in defending and settling the Claim. If Lexar informs
Silicon Motion of its intent not to defend any such Claim, then Silicon Motion shall undertake defense of the Claim with counsel reasonably acceptable to Lexar. If Silicon Motion assumes defense of the Claim, Silicon Motion will not settle or
compromise the Claim without Lexar’s express written consent. The parties will cooperate in any settlement or defense and give each other full access to all relevant information. If Silicon Motion ultimately fails to proceed in good faith with
the prompt resolution of any Claim, Lexar (without waiving any rights to indemnification) may choose to defend the Claim and may enter into any good faith settlement without the prior written consent of Silicon Motion, and Silicon Motion will
reimburse Lexar on demand for all costs and expenses incurred by Lexar in defending and settling the Claim. 
 11.3 Actions After
Injunction or Order. In addition to the obligations above, if the use, sale, lease, license or other distribution of any Indemnified Product, or any part thereof, is enjoined; if the combination of any Indemnified Product, or any part thereof,
with another product is enjoined; or if a court or government agency enters an injunction or order forbidding the importing of any Indemnified Product, or any part thereof, or preventing the delivery of any Indemnified Product, or any part thereof,
to Lexar (any of which is hereinafter referred to as “Infringing Product”), Silicon Motion will, at Lexar’s option, either: (i) procure for Lexar and its customers the right to continue using or combining the Infringing Product;
(ii) replace the Infringing Product with a non-infringing Product acceptable to Lexar and of equivalent form, fit, function and performance; (iii) modify the Infringing Product to be non-infringing, without detracting from form, fit,
function or performance; or (iv) replace the Infringing Product with a non-infringing Product acceptable to Lexar and of equivalent form, fit, function and performance from a third party Silicon Motion approved by Lexar and pay to Lexar the sum
of (A) the price Lexar pays for such replacement for Infringing Product and (B) the costs and expenses Lexar incurs in obtaining such replacement for Infringing Product, including qualifying and testing such replacement and shipping costs;
or (v) terminate its business relationship on the Infringing Product with Lexar therefor. If none of the foregoing options is commercially achievable, Lexar may return the Infringing Product, and Silicon Motion will reimburse the purchase price
paid with respect thereto. In addition to the above, Silicon Motion will pay Lexar the ancillary costs incurred by Lexar and all other Indemnitees due to delivery of Infringing Product. If a change in any Indemnified Product or the use thereof is
required due to an IP Claim, Silicon Motion will reimburse Lexar for its reasonable costs and expenses in procuring a reasonable substitute product, including costs associated with migrating to a new product or to another supplier. Silicon Motion
will not be liable for any costs or expenses incurred without prior written notification. Notwithstanding the above, Silicon Motion assumes no liability for infringement claims arising from the use of a superseded release of an Infringing Product if
Silicon Motion has provided to Lexar the most recent release of the Infringing Product. 
 This Agreement states the entire liability and obligations of
Silicon Motion, and the exclusive remedy of Lexar, with respect to any actual or alleged infringement of any intellectual property right by the Infringing Products. 
 12. ASSIGNMENT. Neither party shall assign, transfer, delegate, or otherwise dispose of this Agreement, or any of its rights, interests or obligations hereunder without prior written consent of the other party
except that either may assign or transfer this Agreement, including its rights and obligations under this Agreement, without consent from the other party, (a) to any present or future parent, subsidiary or affiliate of such party, or
(b) in the course of a merger, reorganization or acquisition of such party or all or substantially all of such party’s assets, provided that written notice of such assignment is given to the other party. 
 13. FORCE MAJEURE. Neither party shall be liable for any delay in performance caused by the occurrence of any contingency beyond the reasonable
control of such party, including but not limited to war, riot, failure or delay in transportation, act of any government or judicial action, labor disputes, accidents, fire, acts of God, 

 
shortages of labor, fuel, raw material or machinery or technical failure to the extent that such party has exercised ordinary care in the prevention thereof.

 14. GOVERNING LAW/VENUE. This Agreement shall be interpreted and governed by the laws of the State of California, without reference
to the rules or principles of it conflict of laws. The UN Convention on Contracts for the International Sale of Goods shall not apply to this Agreement. Except for requests for injunctive or other equitable relief, which may be heard in any court of
competent jurisdiction, any disputes hereunder shall be adjudicated only by courts located in San Jose, California, or the Northern District of California, as appropriate, to whose exclusive jurisdiction the parties hereby consent. 
 15. ARBITRATION. Both parties shall attempt to resolve disputes between themselves. Only if this is not possible shall all disputes arising out of
or in connection with this Agreement or individual purchase contracts signed hereunder, including any question regarding their existence, validity or termination, shall be finally settled under the Rules of the American Arbitration Association
(“Rules”) by three arbitrators in accordance with said Rules. 
 Each party shall nominate one arbitrator for
confirmation by the competent authority under the applicable Rules (“Appointing Authority”). Both arbitrators shall agree on the third arbitrator within thirty (30) days. Should the two arbitrators fail within the above time limit to
reach agreement on the third arbitrator, he shall be appointed by the Appointing Authority. 
 The seat of arbitration shall be San Jose,
California. The procedural law of this place shall apply where the Rules are silent. The language to be used in the arbitration proceeding shall be English. Prevailing party shall be entitled to attorney’s fees and costs. 
 16. EXPORT REGULATIONS. This Agreement involves products and/or technical data that may be controlled under the U.S. Export Administration
Regulations and may be subject to the approval of the United States Department of Commerce prior to export. Any export or re-export by either party, directly or indirectly in contravention of the U.S. Export Administration Regulations, is
prohibited. 
 17. ENTIRE AGREEMENT. This Agreement is the entire agreement between the parties and supersedes any prior
communications, representations, or agreements as to the subject matter hereof, whether written or oral. No modification of this Agreement shall be binding upon either party unless it is in writing and executed by an authorized representative of
each party. Headings have been inserted for convenience of reference only and shall not be deemed a part of this Agreement. Sections 7, 10, 11, 14, 15, 16, 18 and 19 shall survive the termination or expiration of this Agreement. 
 18. CONFIDENTIALITY. Lexar and Silicon Motion each acknowledge that the parties’ disclosures and activities in connection with this Agreement
are Confidential Information that is subject to the provisions of the Mutual Non-Disclosure Agreement between the Parties dated July 24, 2003. 
 19. SEVERABILITY. If any term of this Agreement is held by any final adjudication to be invalid, illegal, or unenforceable for any reason whatsoever, such term will be enforced to the fullest extent permitted by applicable law, and
the validity, legality, and enforceability of the remaining terms will not in any way be affected or impaired. 
 20. COUNTERPARTS; FAX
SIGNATURES. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original and all of which, taken together, shall constitute one and the same instrument. Any counterpart signed by an authorized
representative of a party and delivered to the other party by telecopier shall be deemed an original counterpart and duly delivered. 
 21.
Lexar may exercise its rights under this Agreement (including, but not limited to, its rights under Sections 4, 5, 7, 10 and 11) directly and/or through its designated subcontractors, however, there is no agency relationship between Lexar and any
subcontractor, and no subcontractor is authorized to act on behalf of Lexar except as provided in this Agreement or otherwise authorized by Lexar in writing. 

 IN WITNESS WHEREOF, the parties have executed this Agreement by their duly authorized officers or
representatives and delivered as of the Effective Date. 
  

			
	 LEXAR MEDIA, INC.
	  	SILICON MOTION TECHNOLOGY CORP.
		
	 Signature: /s/    F. Tabrizi
	  	 Signature: /s/    Wallace Kou

		
	 Printed Name: Farhad Tabrizi
	  	 Printed Name: Wallace Kou

		
	 Title: Vice President
	  	 Title: CEO

		
	 Date: September 20, 2005
	  	 Date: September 20, 2005

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