EX-10.3 5 cttc8kmay42011x10-3.txt AMENDMENT TO THE SALES AGREEMENT BETWEEN COMPETITIVE TECHNOLOGIES, INC. AND SPERO PAIN RELIEF THERAPY, INC. DATED FEBRUARY 4, 2011 Exhibit 10.3 February 4, 2011 Spero Pain Relief Therapy, LLC 348 E. 600 S. St. George, UT 84770 RE: Amendment to Sales Agreement Between Competitive Technologies, Inc. and Spero Pain Relief Therapy, LLC, dated September 30, 2010 Dear Mr. Miller and Dr. Chalmers, Based on our discussions, we are pleased amend our agreement with you which is dated September 30, 2010 as follows: 1. Spero Pain Relief Therapy, LLC ("Spero"), and its affiliates will, in selected areas, establish 18 treatment centers utilizing Competitive Technologies, Inc.'s ("CTTC") Calmare Pain Therapy Treatment medical device, model MC-5A. The original agreement was for 14 clinics. The 4 additional clinics are in [Confidential Information Omitted]. 2. Schedule A-1 is amended to include the zip codes for [Confidential Information Omitted] on Amended Schedule B. Continued exclusivity is predicated on Spero's purchase or lease of the minimum number of devices indicated on Schedule B. 3. The exclusivity conditions, pricing for devices, supplies and training, as well as warranty provisions of the original agreement remain in place. 4. This agreement is transferable and binding upon any new owners in the event of the change of control or ownership of either CTTC or Spero. We at Competitive Technologies look forward to a long and mutually beneficial business relationship with Spero Pain Relief Therapy over the coming months and years. Sincerely, ------------------------------------- ---------------------------------------- Johnnie D. Johnson Signature Spero Pain Relief Therapy, LLC Chief Executive Officer Printed Name Competitive Technologies, Inc. Date ---------------------------------------- Signature Spero Pain Relief Therapy, LLC Printed Name Date *Confidential information on this page has been omitted Pursuant to Rule 24b-2* CTTC8K5414 SCHEDULE A-1 - SPERO/CTTC SALES AGREEMENT, AMENDED JANUARY 26, 2011 SPERO PAIN RELIEF THERAPY DEFINED ZIP CODES [Confidential Information Omitted] *Confidential information on this page has been omitted Pursuant to Rule 24b-2* CTTC8K5415 SCHEDULE B-1, SPERO/CTTC SALES AGREEMENT, AMENDED JANUARY 26, 2011 DEVICE PLAN FOR SELECTED OFFICE LOCATIONS, BY REGION [Confidential Information Omitted] *Confidential information on this page has been omitted Pursuant to Rule 24b-2* CTTC8K5416 SCHEDULE B-1, SPERO/CTTC SALES AGREEMENT, AMENDED JANUARY 26, 2011 DEVICE PLAN FOR SELECTED OFFICE LOCATIONS, BY REGION [Confidential Information Omitted] *Confidential information on this page has been omitted Pursuant to Rule 24b-2* CTTC8K5417 SCHEDULE B-1, SPERO/CTTC SALES AGREEMENT, AMENDED JANUARY 26, 2011 DEVICE PLAN FOR SELECTED OFFICE LOCATIONS, BY REGION [Confidential Information Omitted] *Confidential information on this page has been omitted Pursuant to Rule 24b-2* CTTC8K5418