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EXHIBIT 6.25
AGREEMENT
WHEREAS, I, XXXXXX X. XXXXXXXXX, of College Station, Texas hereinafter
referred to as "assignor", am the sole owner of the entire, right, title, and
interest in and to U.S. Patent No. 4,552,404, titled "Neutral Body Posture
Chair", filed on October 12, 1983, and issued on November 12, 1985; and,
WHEREAS, NEUTRAL POSTURE ERGONOMICS, INC., a Texas corporation with
offices located at 0000 X. Xxxxx Xxxxxx, Xxxxx, Xxxxx, 00000, hereinafter
referred to as "assignee", is desirous of acquiring the entire right, title and
interest in the same;
NOW, therefore, in consideration of:
(a) the sum of thirty thousand dollars ($30,000.00), payable
in two installments of fifteen thousand dollars
($15,000.00) each, receipt of the first installment of
which is hereby acknowledged, with the second installment
payable no later than twelve (12) months from the date of
execution of this Assignment; and
(b) twenty five percent (25%) of net royalties (1) collected by
assignee from third parties for products manufactured,
used, or sold under license or sublicense of said U.S.
Patent No. 4,552,404, and other good and valuable
consideration,
I, the assignor, by these presents do sell, assign, and transfer unto
said assignee the entire right, title, and interest in and to said
Patent aforesaid; the same to be held and enjoyed by the said assignee
for his own use and behoove, and for his legal representatives and
assigns, to the full end of the term for which said Patent is granted,
as fully and entirely as the same would have been held by me had this
assignment and sale not been made.
Signed: /s/ XXXXXX X. XXXXXXXXX
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Xxxxxx X. Xxxxxxxxx
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Executed this 5th day of March, 1997, at Bryan, State of Texas, County of
Brazos.
Before me personally appeared said Xxxxxx X. Xxxxxxxxx and acknowledged the
foregoing instrument to be his free act and deed this 5th day of March, 1997.
SEAL /s/ Xxxxx Xxxxxxx
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XXXXX XXXXXXX Notary Public
[NOTARY PUBLIC Notary Public,
STATE OF TEXAS State of Texas /s/ exp date: 5/24/2000
STAMP/SEAL] My Commission Expires
MAY 24, 2000
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