0001360865-11-000033.txt : 20110304 0001360865-11-000033.hdr.sgml : 20110304 20110304134905 ACCESSION NUMBER: 0001360865-11-000033 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 6 CONFORMED PERIOD OF REPORT: 20110304 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20110304 DATE AS OF CHANGE: 20110304 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COMPETITIVE TECHNOLOGIES INC CENTRAL INDEX KEY: 0000102198 STANDARD INDUSTRIAL CLASSIFICATION: PATENT OWNERS & LESSORS [6794] IRS NUMBER: 362664428 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08696 FILM NUMBER: 11663657 BUSINESS ADDRESS: STREET 1: 1375 KINGS HIGHWAY EAST CITY: FAIRFIELD STATE: CT ZIP: 06824 BUSINESS PHONE: (203) 368-6044 MAIL ADDRESS: STREET 1: 1375 KINGS HIGHWAY EAST CITY: FAIRFIELD STATE: CT ZIP: 06824 FORMER COMPANY: FORMER CONFORMED NAME: UNIVERSITY PATENTS INC DATE OF NAME CHANGE: 19920703 8-K 1 cttc8kgeomc.txt COMPETITIVE TECHNOLOGIES, INC. CURRENT REPORT ON FORM 8-K REPORTING AGREEMENTS WITH GEOMC CO. LTD. UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 OCTOBER 17, 2007 (APRIL 19, 2010) DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) COMPETITIVE TECHNOLOGIES, INC. (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) DELAWARE -------- (STATE OR OTHER JURISDICTION OF INCORPORATION) 1-8696 36-2664428 ------ ---------- (COMMISSION FILE NUMBER) (IRS EMPLOYER IDENTIFICATION NO.) 1375 KINGS HIGHWAY EAST, FAIRFIELD, CONNECTICUT 06824 ----------------------------------------------------- (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)(ZIP CODE) (203) 368-6044 -------------- REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: 777 COMMERCE DRIVE, FAIRFIELD, CONNECTICUT 06825 ------------------------------------------------ (FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) CTTC8k3411001 ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT. On October 17, 2007, Competitive Technologies, Inc. (the "Company") entered into an agreement with Daeyang E&C Co., Ltd., a South Korean corporation. Under the agreement, the Company granted Daeyang the right to manufacture the Company's Calmare pain therapy device. The term of the agreement is 10 years, and no payment other than a $1,000 license fee was due under the agreement until units are delivered. Daeyang changed its name to GEOMC Co., Ltd. on March 29, 2008. On August 22, 2008 the Company agreed to grant GEOMC the right to designate the distributor of the Calmare device in South Korea, subject to the terms and conditions of the October 17, 2007 agreement. On January 18, 2010, the Company agreed with GEOMC to a memorandum of understanding regarding per unit pricing of the Calmare pain therapy device. On February 4, 2011, the Company agreed to grant GEOMC the right to designate the distributor of the Calmare device in Japan, subject to the terms and conditions of the October 17, 2007 agreement. ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS. The following exhibits are filed herewith: No. Description --- ----------- 10.1 License Agreement between Competitive Technologies, Inc. and Daeyand E&C Co., Ltd. (now GEOMC Co., Ltd.), dated September 25, 2007. Pursuant to Rule 24b-2 of the Exchange Act, confidential information has been omitted and marked as "[Confidential Information Omitted]", and has been filed separately with the Securities and Exchange Commission pursuant to a Confidential Treatment Application filed with the Commission. 10.2 Distributor Appointment Agreement between Competitive Technologies, Inc. and GEOMC Co., Ltd. dated August 22, 2008 granting rights in South Korea. 10.3 Memorandum of understanding between Competitive Technologies, Inc. and GEOMC Co., Ltd. dated January 18, 2010. Pursuant to Rule 24b-2 of the Exchange Act, confidential information has been omitted and marked as "[Confidential Information Omitted]", and has been filed separately with the Securities and Exchange Commission pursuant to a Confidential Treatment Application filed with the Commission. 10.4 Distributor Appointment Agreement between Competitive Technologies, Inc. and GEOMC Co., Ltd. dated February 4, 2011 granting rights in Japan. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. COMPETITIVE TECHNOLOGIES, INC. (Registrant) Dated: March 4, 2011 By: /s/ Johnnie D. Johnson -------------------------- Johnnie D. Johnson Chief Executive Officer CTTC8k3411002 8-K 2 cttc8kgeomc.pdf COMPETITIVE TECHNOLOGIES, INC. CURRENT REPORT ON FORM 8-K REPORTING AGREEMENTS WITH GEOMC CO. 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AND DAEYAND E&C CO., LTD. (NOW GEOMC CO., LTD.), DATED SEPTEMBER 25, 2007. Exhibit 10.1 TERRITORY EXCLUSIVE LICENSE AGREEMENT FOR INTELLECTUAL PROPERTY AGREEMENT --------- AGREEMENT EFFECTIVE as of September 25, 2007 "Effective Date") by mutual consent of Competitive Technologies, Inc., a Delaware corporation (hereinafter referred to as "CTT") a company having a place of business at: Competitive Technologies, Inc. 777 Commerce Dr. Fairfield, CT 06825 and Daeyang E&C Co., Ltd., a South Korean corporation (hereinafter referred to as "DAEYANG"), a company having a place of business at: Daeyang E&C Co., Ltd. 17F Samsung Fire B/D 1329, Seocho-2dong Seocho-gu, Seoul, Korea CTT and DAEYANG being sometimes hereinafter referred to singularly as a "Party" and collectively as "Parties". WITNESSETH: ---------- WHEREAS, CTT has the rights to a patented device that treats drug-resistant pain through a biophysical rather than a biochemical approach. The non-invasive, pain-free treatment is by means of a multi-processor device able to simultaneously treat multiple pain areas by applying single-use surface electrodes to the skin. WHEREAS, CTT has the exclusive right to license these patents to others for worldwide markets; and WHEREAS, DAEYANG desires to obtain a license, in the Territory, from CTT under the Licensed Technology for the purposes of producing, the Licensed Product (as hereinafter defined) during the term of this Agreement and market and distribute the Licensed Product in Korea; and WHEREAS, CTT is willing to grant DAEYANG a license, to produce the Licensed Technology in accordance with the terms herein and market the Licensed Product in Korea. NOW THEREFORE, in consideration of these premises and of the mutual covenants CTTC8K3411003 hereinafter set forth, CTT and DAEYANG mutually covenant and agree as follows: ARTICLE 1.0 - DEFINITIONS ---------------------------- For the purpose of this Agreement, the following terms shall have the indicated meanings: 1.1 The term "LICENSED TECHNOLOGY" shall mean the intellectual property listed in EXHIBIT A. (The Pain Management Device) 1.2 The term "INVENTION" shall mean the invention as disclosed and claimed in the Licensed Technology and any related patents. 1.3 The term "CUSTOMER" shall mean an end-use customer of DAEYANG or its Affiliate(s). Internal transfers, or other internal sales by DAEYANG to an Affiliated or Related Interest are not Commercial Sales unless such Affiliated or Related Interest is purchasing Licensed Product in an arm's length transaction at market price. 1.4 The term "LICENSED PRODUCT(S)" shall mean any product sold to Customers that but for the license granted hereunder, would infringe or otherwise embody any Licensed Technology. 1.5 The term "NET SELLING PRICE" shall mean the actual gross selling price of each Licensed Product upon its Commercial Sale (as hereinafter defined), but less freight out, royalty withholding taxes and export duty if included in the gross price as routinely calculated by DAEYANG in its normal course of business. 1.6 The term "COMMERCIAL SALE" shall mean Licensed Product sold to Customers. 1.7 The term "AN AFFILIATED OR RELATED INTEREST" shall mean an entity in which DAEYANG has a direct or indirect ownership interest of fifty percent (50%) or more, or any entity which directly or indirectly, or through one or more intermediaries, controls, is controlled by, or is under common control with DAEYANG. 1.8 The term "TERRITORY" shall mean Worldwide. CTTC8K3411004 ARTICLE 2.0 - GRANT BY CTT -------------------------- 2.1 Subject to and expressly conditioned upon the terms and conditions of this Agreement (including without limitation the royalty provisions hereof) and to the rights that the United States Government may claim in and to any licensed patent(s) under 35 U.S.C. 200 et. seq., CTT agrees to grant and does hereby grant to DAEYANG an exclusive license (the "License"), in the Territory, under the Licensed Technology, to make and supply Licensed Product to CTT or CTT's designated customers. 2.2 The License hereby granted by CTT does not include the right of DAEYANG to grant any sublicenses except to an entity which is an Affiliated or Related Interest. 2.3 The License hereby granted by CTT does not include the right of DAEYANG to transfer the License to another entity without prior written approval by CTT. 2.4 Absent any event of default by DAEYANG, the License as to DAEYANG shall terminate in accordance with the termination provisions of ARTICLE 5.0. 2.5 No license is granted by CTT to DAEYANG, either directly or by implication, estoppel or otherwise, under any patents or other intellectual property other than patents that may be included in the Licensed Technology. ARTICLE 3.0 - REMITTANCES UNDER THE LICENSE ------------------------------------------- 3.1 LICENSE FEES. ------------- 3.1.1 Upon the execution of this Agreement, DAEYANG shall remit to CTT a nonrefundable and noncreditable License fee of one thousand dollars ($1,000); and, within thirty (30) days of the execution of this License Agreement. CTT shall provide DAEYANG the License Technology in Exhibit A. 3.1.2 Within two hundred forty (240) days from the date of receiving all manufacturing information of the License Technology in Exhibit A, DAEYANG shall produce commercial devices with the Licensed Technology. CTT may, at its discretion, extend the two hundred forty (240) day period up to an additional ninety (90) days. A License year will be measured from the date of commercial production ("License Year"). in South Korea. CTTC8K3411005 3.1.3 Payment to CTT may be made by wire transfer as follows: BANK NAME: BANK OF AMERICA BANK ADDRESS: ONE LANDMARK SQUARE STAMFORD, CT 06904 ABA NUMBER: [Confidential Information Omitted] SWIFT CODE: [Confidential Information Omitted] FOR FURTHER CREDIT TO: COMPETITIVE TECHNOLOGIES, INC. ACCOUNT NUMBER: [Confidential Information Omitted] 3.2 ROYALTY RATE. DAEYANG and CTT will share profits of [Confidential ------------- Information Omitted]% each from sales of Licensed Products produced by DAEYANG. 3.3 ROYALTIES AFTER TERMINATION. In addition to the foregoing, DAEYANG ----------------------------- agrees to pay to CTT for each Licensed Product sold after termination, but produced, manufactured or made and placed in inventory prior to termination, 5% of royalty of the Net Selling Price of such Licensed Product. ARTICLE 4.0 - ACCOUNTING PROVISIONS ----------------------------------- 4.1 Royalty payments shall be computed on a monthly basis for each month of each calendar year. 4.2 Payments of royalties shall be made in United States Dollars within thirty (30) days following the end of each monthly royalty period, and such payments shall include all royalties that have accrued during said monthly period. 4.3 All royalty payments made hereunder shall be accompanied by a report certified by an officer of DAEYANG setting forth the quantity and prices of Licensed Product sold by DAEYANG. Such report shall also be made if no royalties are due in any such monthly period. The payments and reports shall be considered confidential to DAEYANG and shall not be disclosed to any third party without written consent of DAEYANG. 4.4 For a period of three (3) years after each royalty period in SUBPARAGRAPH 4.1, DAEYANG shall keep records pertaining to such royalty period in sufficient detail to permit the determination of royalties payable hereunder, and at the request and expense of CTT upon no less than thirty (30) days prior written notice will permit an independent Certified Public Accountant (CPA) or its Korean equivalent, selected by CTT and reasonably acceptable to DAEYANG, or any other person acceptable to both CTT and DAEYANG, to examine during ordinary business hours once in each calendar year such records as may be necessary to verify or determine royalties paid or payable under this Agreement. Such CPA or other person shall report to CTT only the amount of royalties due and payable. Such examination shall be at CTT's expense, unless the examination reports underpayment in excess of five percent (5.0%) at which time said expense will be borne solely by DAEYANG. -------------------------------------------------------------------------------- Confidential Treatment Requested by Competitive Technologies, Inc. Pursuant to Rule 24b-2 of the Exchange Act. -------------------------------------------------------------------------------- CTTC8K3411006 4.5 Upon termination or expiration of this Agreement for any reason, DAEYANG shall pay to CTT within sixty (60) days after such termination or expiration, all unpaid royalties accrued prior to such termination or expiration. ARTICLE 5.0 - TERMINATION ---------------------------- 5.1 The term of this Agreement shall be for ten (10) years from the Effective Date, unless earlier terminated as provided below. Thereafter, this License Agreement will be automatically renewed for subsequent one (1) year terms unless earlier terminated in accordance with the provisions established herein; or, if no less than ninety (90) days prior to the end of the ten (10) year period, or any subsequent renewal period thereafter, one Party informs the other of its desire not to renew. 5.2 BANKRUPTCY 5.2.1 If DAEYANG shall become bankrupt or insolvent, or if DAEYANG's business shall be placed in the hands of a receiver, assignee or trustee whether by the voluntary act of DAEYANG or otherwise, CTT shall have the right to terminate this Agreement upon ten (10) days prior written notice to DAEYANG; and 5.2.2 If CTT shall become bankrupt or insolvent, or if CTT's business shall be placed in the hands of a receiver, assignee or trustee, whether by the voluntary act of CTT or otherwise, DAEYANG may elect to retain its rights under this Agreement if the receiver, assignee, trustee or other entity so authorized by a federal bankruptcy court seeks to reject DAEYANG's License. If DAEYANG elects to retain its rights, it shall not be subject to any claim seeking to prevent it from exercising its License rights, and the rights and remedies of the Parties shall continue to be governed by the terms of this Agreement. 5.3 If DAEYANG shall, at any time, be in substantial default in any obligation under this Agreement, including but not limited to failing to make any report, pay License fees, pay any royalties, or permit the inspection of its books and records as hereinabove required, and such default shall not be cured within thirty (30) days after written notice from CTT to DAEYANG specifying the nature of the default, CTT shall have the right to terminate this Agreement and the License granted to DAEYANG hereunder by giving written second notice to DAEYANG. 5.4 Any termination of this Agreement shall not relieve DAEYANG nor CTT of any obligation or liability accrued hereunder prior to such termination, or rescind or give rise to any right to rescind anything done or any payments made or other considera-tion given hereunder prior to the time such termination becomes effective; and such termination shall not affect in any manner, any right, or any remedy of either Party arising out of this Agreement prior to such termination. 5.5 DAEYANG may terminate this Agreement by giving notice to CTT in writing at least sixty (60) days prior to termination. CTTC8K3411007 ARTICLE 6.0 - NOTICE -------------------- 6.1 Any payment, notice or other communication required or permitted to be made or given to any Party hereto pursuant to this Agreement shall be sufficiently made or given on the date of mailing if sent to such Party by certified United States Postal Service Express Mail, or by utilizing an express courier service (such as FedEx, UPS, DHL, etc.), addressed as set forth below, or to such other address as the recipient shall have designated by written notice given to the other Party as follows: IN THE CASE OF CTT: ------------------ Mr. Aris Despo Executive Vice President, Business Development Competitive Technologies, Inc. 777 Commerce Drive Fairfield, CT 06825 WITH A COPY TO: -------------- Mr. John B.Nano Chairman, President and CEO Competitive Technologies, Inc. 777 Commerce Drive Fairfield, CT 06825 IN THE CASE OF DAEYANG E&C CO., LTD.: ------------------------------------ Mr. Seung B. Oh Executive Vice President Daeyang E&C Co., Ltd. 17F Samsung Fire B/D 1329, Seocho-2dong Seocho-gu, Seoul, Korea WITH A COPY TO: -------------- Ms. Young Hyun Lim Chief Executive Officer Daeyang E&C Co., Ltd. 17F Samsung Fire B/D 1329-3, SeoCho-2Dong SeoCho-Gu, Seoul, Korea CTTC8K3411008 ARTICLE 7.0 - TOOLING AND PRODUCTION ------------------------------------ 7.1 TOOLING. At the termination of this License Agreement, CTT reserves the right to purchase from DAEYANG, or have destroyed by DAEYANG, all tooling from which Licensed Product is made. 7.2 MANUFACTURING. The manufacturing facility utilized by DAEYANG for ------------- the production of Licensed Product will be ISO 13485:2003 certified. Such certification requires the implementation and maintenance of a quality management system appropriate for the production, installation and servicing of medical device(s) of class (I, II, III). ARTICLE 8.0 - MISCELLANEOUS PROVISIONS -------------------------------------- 8.1 WARRANTY. CTT warrants and represents that it has the full right and -------- power to enter into this Agreement and to grant the License granted herein, and that there are no outstanding agreements, assignments, or encumbrances inconsistent with the provisions of this Agreement other than expressly set forth herein and that no entity other than CTT has claimed any title or interest to the Licensed Technology. CTT makes no other representation or warranty, expressed or implied, including warranty, guarantee or representation as to the safety and efficacy of the Inventions except as provided for herein, nor does CTT assume any liability in respect of any infringement of patents or other rights of third parties due to DAEYANG's operation under the License herein granted. 8.2 INDEMNIFICATION. DAEYANG will indemnify and hold harmless CTT against --------------- any and all actions, suits, claims, demands, prosecutions, liabilities, costs and expenses (including actual attorney's fees) based on or arising out of this Agreement, including without limitation, the use, performance, and reliance upon the Licensed Product, or the use of the Licensed Patent by DAEYANG or its Customers, and any representation made or warranty given by DAEYANG with respect to the results obtained by use of a Licensed Product. DAEYANG's indemnification shall not apply to any liability, damage, loss or expense to the extent that it is attributable to the grossly negligent activities, reckless, or intentional misconduct of CTT. 8.3 ASSIGNMENT. This Agreement, and the License herein granted shall not be ---------- assignable by DAEYANG without the prior written consent of CTT except that DAEYANG may assign this Agreement and the License herein granted in connection with the sale and transfer of substantially all of DAEYANG's capital stock or business assets relating to the subject matter of this Agreement, or of DAEYANG's con-solidation or merger with another company; provided that such assignee shall assume, in writing, all of the obligations of DAEYANG hereunder. CTTC8K3411009 8.4 COMPLIANCE. DAEYANG agrees that marketing and performance of the ---------- Licensed Product, and Licensed Technology under this Agreement will comply with all applicable Federal, state, and local laws, rules, regulations, and orders, and that it shall comply with all governmental requests regarding the efficacy, safety, and marketing of the Licensed Product. 8.5 SEVERABILITY. If any provision(s) of this Agreement shall be held to be ------------ invalid, illegal, or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 8.6 CONSTRUCTION. This Agreement embodies the entire understanding of the ------------ Parties and supersedes any other agreement or understandings between the Parties relating to the subject matter hereof. No waiver, amendment or modification of this Agreement shall be valid or binding upon such Parties unless made in writing and signed on behalf of each such Party by its respective proper officers thereunto duly authorized. 8.7 EXECUTION. This Agreement will not be binding upon the Parties until it --------- has been signed hereinbelow by or on behalf of each Party, in which event it shall be effective on the Effective Date. No amendment or modification hereof shall be valid or binding upon the Parties unless made in writing and signed as aforesaid. 8.8 HEADINGS, NUMBER, AND GENDER. The headings of the several sections are ----------------------------- inserted for convenience of reference only, and are not intended to be part of or to affect the meaning or interpretation of this Agreement. In this Agreement, where the context so permits, the singular shall include the plural, and vice versa, and references to a particular gender shall include the other gender. 8.9 NO WAIVER. Failure by any Party to enforce any provision of this ----------- Agreement or assert a claim on account of breach hereof shall not be deemed a waiver of its right to enforce the same or any other provision hereof on the occasion of a subsequent breach. 8.10 REMEDIES. The remedies provided in this Agreement are not and shall -------- not be deemed to be exclusive and shall be in addition to any other remedies which any Party may have at law or in equity. 8.11 INDEPENDENT CONTRACTORS. The Parties hereto are independent ------------------------ contractors and are not and shall not be considered as joint venturers, partners, employers, or agents of each other and neither shall have the power to bind or obligate the other except as set forth in this Agreement. CTTC8K3411010 8.12 COUNTERPARTS. This Agreement may be executed in two (2) or more ------------ counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 8.13 FORCE MAJEURE. None of the Parties hereto shall be liable in damages ------------- or have the right to cancel this Agreement for any delay or default in performing hereunder if such delay or default is caused by conditions beyond its control, including acts of God, government restrictions, war or insurrections. 8.14 PATENT INFRINGEMENT. DAEYANG shall promptly inform CTT of any --------------------- suspected infringement of the Licensed Technology by a third party. CTT agrees to pursue appropriate action against any such third party. 8.15 DISPUTES. This Agreement is governed by and construed in accordance -------- with the law of the State of Connecticut and the United States, but without regard to any choice of law provisions. Any dispute, controversy or claim arising out of or relating to this Agreement (hereinafter collectively referred to as "Dispute") shall be attempted to be settled by the Parties, in good faith, by submitting each such Dispute to appropriate senior management or legal representatives of each Party, in an effort to affect a mutually acceptable resolution thereof. In the event no mutually acceptable resolution of such Dispute is achieved in accordance with this subparagraph within a reasonable period of time, then either Party shall be entitled to seek final settlement of such Dispute by any administrative or judicial mechanism which may be available. Officers of the Parties having the rank of vice president or higher shall constitute senior management under this subparagraph. Any disputes hereunder shall be resolved in the state or federal courts in Connecticut, and the Parties hereby consent to exclusive jurisdiction in such courts. The prevailing Party in any lawsuit brought for enforcement or breach of this Agreement, or for infringement of the Licensed Technology shall be awarded its attorney fees from the Party so charged. 8.16 PATENT MATTERS. CTT shall control all aspects of filing, prosecuting and maintaining patents. CTT shall notify DAEYANG of the issuance of any patents to be included in Licensed Technology. ***** CTTC8K3411011 IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the Effective Date first set forth above. FOR COMPETITIVE TECHNOLOGIES, INC. FOR DAEYANG E&C CO., LTD. BY: //S// BY: //S// ------------------------------ --------------------- NAME: JOHN B. NANO NAME: YOUNG H. LIM TITLE: CHAIRMAN, PRESIDENT AND CEO TITLE: PRESIDENT AND CEO DATE: 10/17/07 DATE: 10/17/07 ------------------------------ --------------------- CTTC8K3411012 EX-10.2 4 cttc8kgeomcx10-2.txt DISTRIBUTOR APPOINTMENT AGREEMENT BETWEEN COMPETITIVE TECHNOLOGIES, INC. AND GEOMC CO., LTD. DATED AUGUST 22, 2008 GRANTING RIGHTS IN SOUTH KOREA. Exhibit 10.2 DISTRIBUTOR APPOINTMENT IN KOREA Pursuant to the Territory Exclusive License Agreement of the Pain Management Device made October 17, 2007 between Competitive Technologies, Inc. (CIT) and GEOMC, both parties agree that CTT delegates GEOMC to designate the exclusive distributor for the Korea under the same conditions set forth in the Agreement. Date: August 22, 2008 Competitive Technologies, Inc. GEOMC //s// //s// ------------------------------ ---------------------------------- John B. Nano Young Hyun Lim Chairman, President & CEO President & CEO CTTC8K3411013 EX-10.3 5 cttc8kgeomcx10-3.txt MEMORANDUM OF UNDERSTANDING BETWEEN COMPETITIVE TECHNOLOGIES, INC. AND GEOMC CO., LTD. DATED JANUARY 18, 2010. Exhibit 10.3 MEMORANDUM OF UNDERSTANDING The following describes the understanding of both GEOMC Co. Ltd ("GEOMC") and Competitive Technologies, Inc. ("CTT") regarding the revenue splits for sales of Calmare Therapy MC-5A Unit. 1. GEOMC will receive $[Confidential Information Omitted] for the sale of each unit. 2. Samples will be shipped at a cost of $[Confidential Information Omitted]/unit and the cost will be shared equally between GEOMC and CTT. These splits will be reviewed periodically and adjusted when appropriate. //s// //s// ------------------------------ --------------------------------- John B. Nano Young H. Lim President & CEO President & CEO Competitive Technologies, Inc. GEOMC Co., Ltd. 1/14/10 1/18/10 ------------------------------ --------------------------------- Date Date -------------------------------------------------------------------------------- Confidential Treatment Requested by Competitive Technologies, Inc. Pursuant to Rule 24b-2 of the Exchange Act. -------------------------------------------------------------------------------- CTTC8K3411014 EX-10.4 6 cttc8kgeomcx10-4.txt DISTRIBUTOR APPOINTMENT AGREEMENT BETWEEN COMPETITIVE TECHNOLOGIES, INC. AND GEOMC CO., LTD. DATED FEBRUARY 4, 2011 GRANTING RIGHTS IN JAPAN. Exhibit 10.4 DISTRIBUTOR APPOINTMENT IN JAPAN Pursuant to the Territory Exclusive License Agreement of the Pain Management Device effective as of September 27, 2007 and executed on October 17, 2007 between Competitive Technologies, Inc. (CTTC) and GEOMC, Co. Ltd. (GEOMC) (formerly known as Daeyang E & C Co., Ltd.), both parties agree that CTTC delegates GEOMC to designate the exclusive distributor for Japan under the same conditions set forth in the Agreement. February 4, 2011 Competitive Technologies, Inc. GEOMC Co., Ltd. //s// //s// ------------------------------- --------------------------------- Johnnie, J. Johnson Young Hyun Lim Chief Executive Officer President & CEO CTTC8K3411015