Exhibit 10.34
LONGPORT, INC.
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▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
EXCLUSIVE LICENSING AGREEMENT
PARTIES: LONGPORT, INC. (LPTI) & AUSTIN MEDICAL INC. (AMI)
DURATION: THREE YEARS: 180 DAY INTERVALS, THE AGREEMENT CAN BE
CANCELLED BY EITHER PARTY.
*RENEWABLE AFTER THREE YEARS FOR SAME AMOUNT.
*CHANGES AGREEABLE WITH BOTH PARTIES
*CANCELLATION FOR JUST CAUSE GIVEN BY SIXTY (60) DAYS
WRITTEN NOTICE. NOTIFICATION BY CERTIFIED OR REGISTERED MAIL.
COST: $2,000.00 PER MONTH TO BE PAID BY AMI TO LPTI FOR EXCLUSIVITY IN
EASTERN PA (EXCLUDING DELAWARE AND PHILADELPHIA COUNTIES)
AND CENTRAL NEW YORK.
CONDITIONS: LPTI TO PROVIDE ONE (1) TOPICAL OXYGEN CHAMBER FOR DEMONSTRATION
IMMEDIATELY AND ONE (1) RESEARCH SCANNER WITHIN SIXTY (60) DAYS.
*PROVIDE WOUND CARE HEALING MANUALS, PROTOCOLS, ETC.,
CONSIDERED PROPRIETARY.
*PROVIDE ON-SITE TRAINING FOR RESEARCH SCANNER.
*PROVIDE LOCAL SEMINAR ON WOUND CARE AT LEAST YEARLY.
*PROVIDE TOPICAL OXYGEN ▇▇▇▇▇▇▇▇ AT $300.00 EACH/MONTH.
*PROVIDE OVERREAD INTERPRETATION ON PATIENT SCANS AS NEEDED.
PURPOSE: AMI TO DEVELOP LPTI'S PROPRIETARY WOUND HEALING PROGRAM.
*PROFIT SPLIT FOR WOUND CARE CENTERS:
60% LPTI, AND 40% AMI UNTIL SET-UP COST IS RECOUPED, THEN;
50% LPTI, AND 50% AMI.
TERMINATION: WHEN THE AGREEMENT IS TERMINATED, AMI AGREES TO RETURN ALL
EQUIPMENT WITHIN TEN (10) DAYS OF THE TERMINATION.
*TERMINATION OF LICENSING AGREEMENT WILL NOT EXCLUDE AMI FROM
ANY PROFITS FROM BUSINESS PROCURRED BY AMI FOR LPTI, DURING THE
EXCLUSIVE LICENSING AGREEMENT.
/s/ ▇.▇. ▇▇▇▇ 3-31-98 ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ 3-31-98
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(accepted for Austin (date) (accepted for (date)
Medical, Inc.) Longport, Inc.)
