SALE AND PURCHASE AGREEMENT
EXHIBIT 10.23
FINAL VERSION
Sale and Purchase Agreement (this “Agreement”), dated this 11th day of July, 2006,
by and between Wireless Ronin Technologies, Inc., a Minnesota corporation, with offices located at
00000 Xxxxxx Xxxxx, Xxxx Xxxxxxx, XX 00000 (“WRT”), and Sealy Corporation, a Delaware corporation,
with offices located at Xxx Xxxxxx Xxxxxxx xx Xxxxx Xxxxx, Xxxxxxx, XX 00000 (“Sealy”).
WITNESSETH:
WHEREAS, WRT has developed the SealyTouch™ System (the “System”), consisting of (i) all of
WRT’s programs, software, databases, media devices, user materials provided to Sealy, and all other
intellectual property needed to make the System fully operational, including, without limitation,
all revisions, updates, corrections, and improvements thereto, now and hereafter existing (the “WRT
Technology”) and (ii) a computerized touch screen or interactive display center, related hardware
and software purchased by WRT from third party manufacturers according to WRT’s specifications, and
all parts and supplies needed to make the System fully operational (collectively the “Equipment”),
all as more fully described in Exhibit A hereto;
WHEREAS, the Systems are designed as a marketing platform to be installed at locations
(“Installation Sites”) of retailers (“Retailers”) chosen by Sealy and used by the Retailers’
customers (“Customers”) in shopping for, selecting and purchasing mattresses, box springs, and
other bedding products of Sealy and its subsidiaries;
WHEREAS, Sealy desires to purchase (as used herein, “purchase” means to buy the Equipment and
license use of the WRT Technology) Systems from WRT for use in Beta Tests (as defined below);
WHEREAS, assuming that (i) Sealy is satisfied with the results of the Beta Tests, (ii) Sealy
and WRT have executed a SealyTouch™ Master Service Agreement in accordance with Section 5 below
(the “Master Service Agreement”) pursuant to which, for a separate fee, WRT shall install, test,
maintain, repair, update, and otherwise service all of the Systems purchased by Sealy and keep them
in good working order and provide insurance claim, warranty claim and such other services as are
specified therein, (iii) Sealy, WRT and Xxxxxxxxxx Electronics, Ltd. have executed the Backup
Service Agreement in accordance with Section 5 below, and (iv) Sealy has accepted and become a
beneficiary of WRT’s Master Preferred Escrow Agreement with Iron Mountain (the “Master Preferred
Escrow Agreement”) relating to WRT’s Technology in accordance with Section 5 below, Sealy desires
to purchase additional Systems from WRT in an amount to be determined by Sealy in its sole
discretion, but estimated to be up to 3,000 units, all upon the terms and conditions set forth
herein; and
WHEREAS, WRT desires to sell (as used herein, “sell” means to sell the Equipment and license
the use of the WRT Technology) Systems to Sealy for use in the Beta Tests, to cooperate
with Sealy and Winmark Capital Corporation (“Winmark”) if Sealy decides to utilize Winmark in
connection with this transaction to finance and/or manage Sealy’s purchase and use of
Systems through a lease, to execute and provide Sealy with the services specified in the Master Service
Agreement, to execute the Backup Service Agreement, to make Sealy a beneficiary of its Master
Preferred Escrow Agreement, and to sell additional Systems to Sealy, all upon the terms and
conditions set forth herein.
NOW, THEREFORE, IN CONSIDERATION of the foregoing and the mutual covenants set forth herein,
the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound,
the parties agree as follows:
SECTION 1
PURCHASE AND SALE OF SYSTEMS; LICENSE OF WRT TECHNOLOGY
1.1 General. Subject to the terms and conditions hereof, Sealy agrees to purchase Systems
from WRT, and WRT agrees to sell Systems to Sealy.
1.2 Purchase and Sale of Systems for Beta Test. Pursuant to the purchase order attached
hereto as Exhibit B, Sealy has purchased from WRT, and WRT has sold to Sealy, 50 Systems, many of
which have been installed at Installation Sites designated by Sealy and used in a Beta Test.
Sealy intends to conduct a further Beta Test and for that purpose may purchase and have installed
additional Systems. Sealy shall complete its Beta Tests of the Systems on or before September 30,
2006 or such other date as the parties may agree.
1.3 Purchase and Sale of Additional Systems beyond the Beta Test. Assuming that (i) Sealy is
satisfied with the results of the Beta Tests, (ii) Sealy and WRT have executed a Master Service
Agreement pursuant to which, for a separate fee, WRT will install, test, maintain, repair, update,
and otherwise service the Systems and keep them in good working order and provide insurance claim,
warranty claim and such other services as are specified therein, and (iii) Sealy has accepted and
become a beneficiary of WRT’s Master Preferred Escrow Agreement with Iron Mountain relating to
WRT’s Technology, Sealy shall purchase from WRT, and WRT shall sell to Sealy, additional Systems
to be installed at Installation Sites in the United States, Canada and Mexico (the “Territory”).
Subject to the provisions of Section 1.4 below, the number of such additional Systems purchased by
Sealy from WRT and their Installation Sites shall be determined by Sealy in its sole discretion;
provided, however, that every purchase order placed by Sealy and filled by WRT shall be for a
minimum of 50 additional Systems.
1.4 Purchase Estimates. Not less than 20 days prior to the beginning of each calendar
quarter, Sealy will provide WRT with a written quarterly System purchase estimate for the upcoming
3 month period (the “Estimate”). Sealy may in its sole discretion amend an Estimate at any time
by providing written notice of same to WRT. An Estimate or amended Estimate shall not obligate
Sealy to purchase any particular volume of Systems, shall not in any way be construed by WRT as a
promise or guaranty by Sealy to purchase any volume of Systems, and shall not be relied upon by
WRT in deciding to incur any costs in connection with this Agreement. Subject to Section 3.2
below, Sealy may purchase fewer or more Systems during a quarter than predicted in the Estimate or amended Estimate for said quarter without
any liability to WRT beyond that specified in this Agreement.
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1.5 Purchase Orders. Any purchase order delivered by Sealy will incorporate the terms and
conditions of this Agreement and the Master Service Agreement, and all additional or different
terms in any purchase order delivered by Sealy will not be part of the agreement between the
parties unless agreed to in writing by WRT. Each purchase order placed by Sealy in accordance
with the terms of this Agreement shall be accepted by WRT.
1.6 Designation of Installation Sites. With every purchase order that Sealy places with WRT,
whether for Systems to be used in the Beta Test or for additional Systems, Sealy shall designate
to WRT the Installation Site for each System ordered.
1.7 License of WRT Technology. Subject to the provisions of this Agreement, WRT grants to
Sealy and Sealy accepts, effective upon completion of the delivery and installation of each
System, a limited, personal, nonexclusive, nontransferable, nonassignable, irrevocable,
non-royalty bearing Object Code license to use WRT Technology. “Object Code” shall mean the
binary machine-readable version of WRT Technology. Sealy’s rights in the WRT Technology pursuant
to such license are expressly limited to the use of the WRT Technology by Sealy at Installation
Sites in the Territory in connection with the Equipment. Sealy shall not assign, transfer, or
sublicense the WRT Technology without the prior written consent of WRT; provided, however, that
Retailers and Customers are free to use WRT Technology as part of the Systems at Installation
Sites.
1.8 Limited Exclusivity. During the term of this Agreement and so long as Sealy shall have
ordered and provided WRT with an Installation Schedule for either (i) 250 Systems per calendar
quarter beginning with the quarter ending December 31, 2006, or (ii) a total of 2,000 Systems
deliverable during the term of this Agreement in quantities of at least 250 Systems per calendar
quarter, commencing with the quarter ending Xxxxxxxx 00, 0000, XXX agrees not to furnish the WRT
Technology to any other Bedding Manufacturer or Bedding Retailer in the Territory. The
requirements for the limited exclusivity for the term of this Agreement shall be deemed met if
Sealy has met the conditions of clause (i) or (ii) of the preceding sentence. During the term of
this Agreement, Sealy agrees to use only WRT as its vendor for interactive touch screen display
technology; provided, that at such time as the requirements for limited exclusivity above are not
met and WRT shall have thereafter furnished WRT Technology to any other Bedding Manufacturer or
Bedding Retailer in the Territory, Sealy shall not be bound by the limited exclusivity obligations
of this Section 1.8. For purposes of this Agreement, “Bedding Manufacturer” or “Bedding Retailer”
shall be any manufacturer or stand alone retailer of beds or futons, whether conventional
innerspring products or specialty foam or air products, or any other product that is used or
marketed for a person to sleep upon. A Bedding Manufacturer or Bedding Retailer shall not include
a mass retailer that sells bedding in addition to other retail consumer merchandise.
1.9 Reverse Engineering. Sealy shall not translate, reverse engineer, decompile, recompile,
update, or modify all or any part of the WRT Technology or merge the WRT Technology into any other
software.
1.10 No Licenses. Except as explicitly provided in Section 1.7 of this Agreement, no license
under any patents, copyrights, trademarks, trade secrets, or any other intellectual property
rights, express or implied, are granted by WRT to Sealy under this Agreement.
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1.11 Corruption Protection. WRT will equip the WRT Technology licensed to Sealy with
protection against viruses, Trojan horses, worms or other software routines or hardware components
designed to permit unauthorized access or to disable, erase or otherwise harm any software,
hardware or data (collectively “Corruptions”), and will periodically provide any updates to such
protection for the Systems sold to Sealy.
SECTION 2
UNIT PRICE; ADJUSTMENT OF UNIT PRICE; PAYMENT TERMS; TAXES
2.1 Unit Price. The purchase price for each System (the “Unit Price”) shall be set forth in
Schedule 2.1 hereto, shall become effective upon said Schedule 2.1 being dated and signed by both
Sealy and WRT, and shall remain effective until replaced by a new dated and signed Schedule 2.1
setting forth an adjusted Unit Price pursuant to Section 2.2 below. The Unit Price shall include
the purchase price for the Equipment, the license fee for the WRT Technology, and all charges for
packing, loading, transporting, unloading, installing and testing the System at the Installation
Site and for insurance on the System pursuant to Section 4.2 below. Sealy shall not be liable to
WRT for any additional price, fee or charge beyond the Unit Price for the purchase and
installation of each System. The Unit Price shall not include the separate fee that Sealy agrees
to pay WRT for post-sale services relating to the Equipment pursuant to the Master Service
Agreement. The Unit Price shall not include the amounts that Sealy agrees to reimburse to WRT for
payment of certain taxes pursuant to Section 2.4 below.
2.2 Quarterly Pricing, Annual Review and Adjustment of Unit Price.
2.2.1 Quarterly Pricing. The Unit Price shall be subject to adjustment unilaterally by
WRT at the end of each calendar quarter, beginning with the calendar quarter ending December
31, 2006 (each such date, an “Adjustment Date”) based on WRT’s costs for all hardware
(including without limitation hard drive and flat screen components) (“Components”) of the
Unit. If the cost of the Unit is more than five percent (5%) below or five percent (5%)
above the current cost of the Unit due to the price movement of the Components, WRT shall
provide Sealy with a price change notice and all purchase orders dated after the date of the
Price Change Notice shall be seventy-five percent (75%) of the documented price change in
either direction. As an example, if the Component costs lower the Unit cost by ten percent
(10%), then WRT shall lower for Sealy the Unit Price by 7.5%, thereby rewarding WRT 2.5% of
the price savings.
2.2.2 Annual Review. Upon either parties’ request, the parties shall cause Larson,
Allen, Xxxxxxx & Co., LLP, or such other professional firm as the parties mutually agree (in
either case, the “Analyst”), to prepare and deliver to each of WRT and Sealy within 30 days
of any request a detailed written analysis showing all of WRT’s outside vendor costs for the
Components incurred during the Review Period (the “Review Period”) ending with the month
that immediately precedes the month of the request date
and calculating the per unit cost (the “Per Unit Cost”) for that Review Period. Upon
request by either party, the Analyst shall explain the analysis and identify the documents
and information relied upon for the analysis. WRT shall make all relevant data in its
custody, possession or control available to the Analyst. If the Per Unit Cost for that
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Adjustment Period is more than five percent (5%) less than the Per Unit Cost charged by WRT,
then Sealy shall receive a retroactive price decrease for that Review Period for the entire
amount of the savings and pay the new Per Unit Price going forward as determined by the
Analyst. If the Unit Cost is higher, then Sealy shall pay 75% of the documented price
increase based on the Component cost increases. The party requesting the Annual Review
shall be responsible for the costs of the review unless a price change favorable to that
party is determined by the Analyst. The foregoing notwithstanding, there shall be no
adjustment to the Unit Price, whether increase or decrease, unless the change in the Per
Unit Cost is 5% or greater.
2.3 Payment Terms. Sealy shall pay the Unit Price for each System that it purchases from WRT
in three equal installments. Sealy shall pay the first equal installment when it places its
purchase order for the System with WRT. Sealy shall pay the second equal installment within
thirty (30) days after receipt from WRT of an invoice for the sale and written evidence (e.g.,
delivery ticket signed by Retailer) that the System has been delivered to the proper Installation
Site. Sealy shall pay the third equal installment within thirty (30) days after the System has
been installed, tested, and accepted by Sealy in accordance with Section 3.4 below. One sixth
(1/6th) of the final payment (or 5.5% of the total Unit Price) shall be deposited into
an escrow account pursuant to an Escrow Agreement between WRT, Sealy and the Escrow Agent
thereunder (the “Escrow Agreement”) from which the Escrow Agent shall then distribute the proceeds
of this account to WRT in twelve monthly installments from the date it is deposited as long as
Sealy does not file an objection with the Escrow Agent. Upon the receipt of an objection, the
Escrow Agent shall immediately cease distribution of the escrow funds, until a notice has been
filed by Sealy that such objection has been resolved. An objection must be detailed and be
related to the functioning of the Systems themselves or the installation of the Systems, but does
not have to refer or relate to the particular Systems for which the Deposit is part of the third
installment payment. An objection must be reasonably related to a request to withhold escrow
distribution (i.e. must represent damages or a remedy to Sealy and in the event of an arbitration
as set out below shall represent one source of funds for Sealy if its is determined that WRT has
breached this Agreement or the Master Service Agreement). To the degree the parties disagree
about any objection, they shall promptly meet to resolve the dispute pursuant to the dispute
resolution terms below. The escrow funds may be invested in any reasonable manner (as long as a
commercially independent investment vehicle) as determined by WRT with prior approval by Sealy,
such approval shall not be unreasonably withheld or delayed. All profits or losses from the
escrow account shall be accrued or borne solely by WRT. The parties agree that a Deposit in the
Escrow Agreement shall not be required on any purchase of fewer than ten (10) units and will not
apply to the purchase of the twelve (12) additional units envisioned for the extended beta in July
or August 2006.
2.4 Taxes. Sealy shall be responsible for and pay all fees, expenses, charges, costs and
taxes payable for the sale of Systems to Sealy, the sale of Equipment to Sealy, and the license of
WRT Technology to Sealy, including but not limited to sales, use, excise, value-added and other
taxes and duties (collectively, “Taxes”). WRT’s invoices shall separately state
the amount of any Taxes WRT is collecting from Sealy, to the extent applicable. The parties
agree to cooperate in collecting Taxes and filing when due all returns in respect of any Taxes.
If Sealy is exempt from payment of Taxes, it shall provide WRT with a valid exemption certificate
evidencing tax-exempt status prior to delivery of any Systems hereunder. Sealy shall
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indemnify WRT for all Taxes paid by WRT and any other costs and expenses related thereto, including
attorney’s fees. The parties agree that if Sealy leases through Winmark or other leasing agent,
such agent may be responsible for Taxes, but in no event shall WRT be responsible for such Taxes.
SECTION 3
SITE PREPARATION; DELIVERY; INSTALLATION; ACCEPTANCE
3.1 Site Preparation. Sealy shall be responsible for assuring that each Installation Site is
properly prepared for installation and operation of the System in accordance with the procedures
set forth on Schedule 3.1 hereto. Should WRT determine that any Installation Site has not been
properly prepared for installation and operation of the System, WRT shall promptly notify Sealy
and the Retailer so that remedial steps may be taken to correct the problem with the site and
permit installation and operation with minimal delay. WRT shall not be responsible for paying or
reimbursing the costs, if any, associated with proper site preparation. Sealy shall promptly
reimburse WRT for any costs incurred by WRT in connection with any improper site preparation
following receipt from WRT of a written statement showing the nature and dollar amount of each
such cost, how it was calculated, and what was improper about the site preparation that caused WRT
to incur the cost. WRT shall not be responsible for providing, or otherwise bearing the costs of,
communications facilities for the Systems for the purposes of remote access and support by WRT.
3.2 Delivery. WRT shall have each System available for shipping to its proper Installation
Site within 12 weeks after receiving the relevant purchase order from Sealy, or within such other
time period as the parties may agree. The Unit Price is a delivered and installed price. All
packing, loading, freight, transportation, unloading and similar charges for delivery of Systems
to Installation Sites are to be paid or incurred by WRT. Sealy shall have no responsibility for
paying or reimbursing WRT for such charges other than as a component of the Unit Price.
3.3 Installation. Within 6 weeks after providing a purchase order to WRT, Sealy shall
provide to WRT a written schedule (the “Installation Schedule”) setting forth the Installation
Date and Installation Site for each of the ordered Systems. Within 3 weeks of receiving the
Installation Schedule from Sealy, WRT shall provide to Sealy and to each affected Retailer written
notice of the final Installation Schedule either as proposed by Sealy or as modified by the mutual
agreement of Sealy and WRT. WRT shall provide complete installation of each System at its proper
Installation Site and on the date set forth in the final Installation Schedule. The Unit Price is
a delivered and installed price. All rigging, labor, supplies, parts, and other costs associated
with installing Systems are to be paid or incurred by WRT. Sealy shall have no responsibility for
paying or reimbursing WRT for such charges other than as a component of the Unit Price.
3.4 Acceptance of System by Sealy. Following installation of each System, WRT shall test the
System to assure that it is fully operational. The test shall be conducted in the presence of
Sealy or its representative (for this purpose, Sealy’s representative may be the Retailer at whose
retail location the System has been installed). If the test reveals problems
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with the System that can be remedied on site, WRT shall fix problems and make the System fully operational. Once WRT
has tested an installed System and concluded that it is fully operational, WRT shall certify in
writing to Sealy that it is ready for acceptance. Sealy shall certify in writing its acceptance of
each System that WRT has delivered, installed, tested, and made fully operational at the proper
Installation Site. Sealy shall notify WRT of any System that Sealy rejects, including the reason
or reasons for rejection. Sealy and WRT shall attempt to resolve in good faith any disagreement
they might have over whether a System merits acceptance. WRT shall promptly de-install and remove
from the Installation Site any System that Sealy has rejected and shall do so at no cost or
expense to Sealy. Further, Sealy shall be entitled to credit or offset the installment payments
it has made on any rejected System that has not been cured or remedied to Sealy’s satisfaction
against its payment obligations to WRT under this Agreement or the Master Service Agreement.
SECTION 4
LOSS OR DAMAGE; INSURANCE; RELOCATING SYSTEMS
4.1 Loss or Damage. WRT shall assume and bear the risk of loss, theft, or damage to each
System from any and every cause whatsoever, whether or not covered by insurance, that occurs prior
to delivery of the System to its proper Installation Site. WRT shall not assume or bear any of
the risk of loss, theft, or damage to any System that occurs after the System has been delivered to
the proper Installation Site, except and to the extent caused by WRT while installing, testing,
repairing, or servicing the System under the Master Service Agreement.
4.2 Insurance. WRT shall, at its expense, purchase and maintain goods in transit insurance,
including theft, loss, accidental damage, liability caused during transit and damages for any delay
in delivery, in such amounts and with such limits as Sealy may require (which is $1,000,000 per
occurrence and $2,000,000 in the aggregate), and naming Sealy as an additional insured. All such
insurance shall provide for thirty (30) days prior written notice to Sealy of cancellation,
restriction, or reduction of coverage. WRT agrees to obtain this insurance from an insurance
company which is at least “A” rated by A.M. Best.
4.3 Relocating Systems. Upon written request by Sealy, WRT shall relocate a System from one
Installation Site to another, including de-installing, packing, loading, transporting, unloading,
unpacking, re-installing, testing and making the System operational at the new Installation Site.
For these services, WRT shall be entitled to a fee (the “Relocation Fee”) in the amount set forth
on Schedule 2.1. Sealy shall pay the Relocation Fee to WRT within thirty (30) days after the
System has been relocated and is operational at the new Installation Site.
SECTION 5
ANCILLARY AGREEMENTS
5.1 Ancillary Agreements. Within 90 days after the execution of this Agreement, WRT and Sealy
shall execute and deliver (i) the Master Service Agreement, (ii) the Master Preferred Escrow
Agreement, (iii) the Escrow Agreement and (iv) the Backup Service
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Agreement (the “Ancillary Agreements”); provided, that WRT and Sealy shall in any event execute and deliver the Escrow
Agreement after the completion of the Beta Test and prior to the purchase and sale of additional
Systems as contemplated by Section 1.3.
SECTION 6
PROPRIETARY PROTECTION OF WRT TECHNOLOGY
6.1 Reservation of Title. All right, title and interest in and to WRT Technology, including
all modifications, enhancements and derivatives thereof, and all deliverables and know-how and
proprietary rights, including patents, patent applications and copyrights and trade secrets
relating to WRT Technology will remain with WRT or its suppliers, as applicable. It is intended
that Sealy have no ownership rights in any WRT Technology other than ownership of tangible media
in which WRT Technology is expressed, in connection with the operation of the Systems at the
Installation Sites. This Agreement does not effect any transfer of title in the WRT Technology,
or any materials furnished or produced in connection therewith, including drawings, diagrams,
specifications, input formats, source code, and user manuals. Sealy acknowledges that the WRT
Technology (and all materials furnished or produced in connection with the WRT Technology),
including, without limitation, the design, programming techniques, flow charts, source code, and
input data formats, contain trade secrets of WRT, entrusted by WRT to Sealy under this Agreement
for use only in the manner expressly permitted hereby. Sealy further acknowledges that WRT claims
and reserves all rights and benefits afforded under federal law in the WRT Technology as
copyrighted works.
6.2 Confidentiality. This Agreement, the Ancillary Agreements, and the development efforts
of the parties are not deemed to establish a confidential relationship between the parties and all
information and documentation exchanged between them, other than Proprietary Information (as
hereinafter defined) will be received and treated by the receiving party on a non-confidential and
unrestricted basis, subject to restrictions imposed by patent, copyright and trade secret laws.
Subject to Section 6.4, each party agrees that for a period of three years from the termination or
expiration of this Agreement, without the prior written consent of the other party regarding a
specific contemplated transaction: (a) a party will not disclose Proprietary Information of the
other party; (b) except as provided herein, limit dissemination of the other party’s Proprietary
Information to only those of the receiving party’s officers, directors and employees who require
access thereto to perform their functions regarding the purposes of this Agreement and the
Ancillary Agreements; and (c) not to use Proprietary Information of the other party except for the
purposes of this Agreement and the Ancillary Agreements, which purposes shall include disclosure
to subcontractors and sources of supply. “Proprietary Information” as used herein means all or
any portion of: (i) WRT Technology; (ii) written, recorded, graphical or other information in
tangible form disclosed during the term of this Agreement, by one party to the other party, which is labeled
“proprietary,” “confidential,” or with similar legend denoting the proprietary interest therein of
the disclosing party; (iii) oral information disclosed by one party to the other party to the
extent identified as “proprietary” or “confidential” at the time of oral disclosure, and confirmed
in written or other tangible form within thirty (30) days following oral disclosure, or with
similar written evidence denoting the proprietary interest of the disclosing party; and (iv)
models, test software, beta versions and sample products identified at the time of disclosure as
being
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proprietary to the disclosing party; provided, however, that Proprietary Information shall
not include any data or information that is: (A) in the possession of the receiving party prior
to its disclosure by the disclosing party and not subject to other restrictions on disclosure; (B)
independently developed by the receiving party; (C) publicly disclosed by the disclosing party;
(D) rightfully received by the receiving party from a third party without restrictions on
disclosure; (E) approved by unrestricted release or disclosure by the disclosing party; or (F)
produced or disclosed pursuant to applicable law, regulation, subpoena, or court order, provided
that the receiving party has given the disclosing party prompt notice of such request so that the
disclosing party has an opportunity to defend, limit or protect such production or disclosure.
Notwithstanding any other provision of this Agreement, WRT shall have the right to disclose
this Agreement and its terms to its investors and in connection with any filings and disclosures
required to be made under the Securities Act of 1933, as amended, or the Securities Exchange Act of
1934, and any related state securities filings.
6.3 Restrictions on Use of WRT Technology. Neither the WRT Technology nor any materials
provided to Sealy in connection with the WRT Technology may be copied, reprinted, transcribed, or
reproduced, in whole or in part, without the prior written consent of WRT. Sealy shall not in any
way modify or enhance the WRT Technology, or any materials furnished or produced in connection
therewith, without the prior written consent of WRT.
6.4 Duration of Duties and Return of WRT Technology. The duties and obligations of Sealy
hereunder shall remain in full force and effect for so long as Sealy continues to control,
possess, or use any System. Sealy shall promptly return to WRT all tangible WRT Technology,
together with all materials furnished or produced in connection therewith by WRT, upon (1)
termination of Sealy’s license to use the WRT Technology or (2) abandonment or sale by Sealy of
all Systems or all Equipment used in all Systems.
SECTION 7
REPRESENTATIONS, WARRANTIES AND LIMITATIONS
7.1 WRT Technology. WRT represents and warrants that it has the lawful right to grant the
license to Sealy of the WRT Technology as provided herein. WRT represents and warrants that the
WRT Technology will perform its intended functions as part of the Systems in accordance with the
specifications set forth on Exhibit A hereto. WRT further represents and warrants that when a
System is first installed at an Installation Site, the WRT Technology incorporated therein will be
free of all Corruptions. WRT does not represent or warrant that the WRT Technology will remain
free of Corruptions after being installed at an Installation Site or that the WRT Technology will
operate uninterrupted or error free.
7.2 Equipment. WRT represents and warrants that the Equipment has been integrated with the
Systems delivered hereunder in accordance with the specifications set forth on Exhibit A hereto.
WRT does not represent or warrant that the Equipment will be free of manufacturing defects or that
the Equipment will be manufactured in accordance with the specifications provided by WRT to the
manufacturers or that the Equipment will operate
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uninterrupted or error free; provided, however,
that this sentence shall not affect WRT’s obligations under the Master Service Agreement to
repair, service and maintain the Systems. Claims against the Equipment manufacturers under their
warranties will be handled pursuant to the Master Service Agreement.
7.3 Systems. WRT represents and warrants that the Systems conform to the specifications set
forth on Exhibit A hereto. WRT does not represent or warrant that the Systems installed at the
Installation Sites will operate uninterrupted or error free; provided, however, that this sentence
shall not affect WRT’s obligations under the Master Service Agreement to repair, service, and
maintain the Systems.
7.4 Remedy for WRT Technology Defect or Non-Conformity. WRT’s sole and exclusive
responsibility, and Sealy’s sole and exclusive remedy, for any defect or non-conformity in the WRT
Technology incorporated into a System shall be for WRT to promptly correct or replace, at no
additional charge to Sealy, the defective or non-conforming WRT Technology so that the System is
restored and fully operational; provided, however, that if WRT fails to correct or replace
defective or non-conforming WRT Technology in a System within 30 days after WRT receives notice of
same, Sealy may elect to have the defect or non-conformity corrected or replaced by a third party
contractor and the expense thereof may be credited or offset by Sealy against any payment
obligation is owes to WRT under this Agreement or the Ancillary Agreements.
7.5 Warranty Disclaimer. EXCEPT AS SET FORTH IN THIS XXXXXXX 0, XXX MAKES NO EXPRESS OR
IMPLIED REPRESENTATIONS OR WARRANTIES WITH RESPECT TO THE SYSTEMS, THE WRT TECHNOLOGY, AND THE
EQUIPMENT OR THEIR CONDITION, MERCHANTABILITY, FITNESS FOR ANY PARTICULAR PURPOSE OR USE BY SEALY.
WRT FURNISHES THE ABOVE WARRANTIES IN LIEU OF ALL OTHER WARRANTIES, EXPRESSED OR IMPLIED,
INCLUDING THE WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE.
7.6 Voiding of Representations and Warranties. Any and all representations and warranties by
WRT with respect to the WRT Technology, the Equipment and Systems shall be void as to a claimed
defect or non-conformity caused by or related to any of the following actions taken without WRT’s
prior consent or approval: (1) any alterations or modifications made to any WRT Technology, the
Equipment or Systems by Sealy, it representatives or agents; (2) any use of the WRT Technology,
Equipment, or Systems other than in the operating environment specified in the technical
specifications provided to Sealy by WRT; or (3) the negligence or willful misconduct of Sealy or
any Retailer, or any of their respective representatives, agents or Customers.
SECTION 8
DEFAULT
8.1 Events of Default. Any of the following shall constitute an “Event of Default” under
this Agreement:
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8.1.1 WRT’s failure during the term of this Agreement to keep on deposit for the
benefit of Sealy the Deposit Materials as required by the Master Preferred Escrow Agreement;
8.1.2 WRT’s material breach of this Agreement and/or the Master Service Agreement that
has not been cured within fifteen (15) days after Sealy has provided WRT with written notice
thereof;
8.1.3 Sealy’s material breach of this Agreement and/or the Master Service Agreement
that has not been cured within fifteen (15) days after WRT has provided Sealy with written
notice thereof;
8.1.4 Every written notice under Subsections 8.1.2 and 8.1.3 shall identify the act or
omission that constitutes the breach and the particular provision(s) of the Agreement and/or
the Master Service Agreement that have been breached;
8.1.5 Any act or event whereby Sealy or WRT (a) is or becomes a party to any bankruptcy
or receivership proceeding or any similar action affecting the financial condition or
property of Sealy or WRT, as applicable, if such proceeding has not been dismissed within 30
days, or (b) makes a general assignment for the benefit of creditors.
8.2 Remedies.
8.2.1 Upon the occurrence of an Event of Default by WRT, Sealy shall have the following
remedies, any one or more of which it may elect: (a) Sealy may cure or attempt to cure the
default, in which event WRT shall be liable for Sealy’s cure or attempted cure costs, and
Sealy shall be entitled to credit or offset said costs against any obligations that Sealy
owes to WRT; (b) Sealy may terminate this Agreement and/or the Master Service Agreement,
said termination to be effective upon Sealy’s providing written notice of termination to
WRT; (c) if Sealy terminates this Agreement and/or the Master Service Agreement, Sealy may
continue to use the WRT Technology in the Systems and may perform or have performed
maintenance, repair, updating and other services on the WRT Technology in the Systems; (d)
Sealy may pursue any damage or equitable claims it has against WRT under applicable law but
only through an arbitration proceeding in accordance with Section 13.3 below, subject to the
limitations set forth in Section 11.3 and Section 11.4 below; or (e) Sealy may file an
Objection with the Escrow Agent as set out above in Section 2.2; provided, that upon the
occurrence of an Event of Default by WRT, WRT shall be entitled to reject any purchase
orders placed by Sealy hereunder after such Event of Default, without liability of WRT to
Sealy, and Sealy shall be entitled to cancel any purchase orders placed by Sealy hereunder
after an Event of Default by WRT pursuant to Section 8.1.1 or 8.1.5, without liability to
Sealy.
8.2.2 Upon the occurrence of an Event of Default by Sealy, WRT shall have the following
remedies, any one or more of which it may elect: (a) WRT may cure or attempt to cure the
default, in which event Sealy shall be liable for WRT’s cure or attempted cure costs, and
WRT shall be entitled to credit or offset said costs against any obligations that WRT owes
to Sealy; (b) WRT may terminate this Agreement and/or the Master Service
11
Agreement, said termination to be effective upon WRT’s providing written notice of termination to Sealy; and
(c) WRT may pursue any damage or equitable claims it has against Sealy under applicable law
but only through an arbitration proceeding in accordance with Section 13.3 below.
8.3 Waiver. No delay or failure of either party in exercising any right or remedy hereunder,
nor any partial exercise thereof, shall be deemed to constitute a waiver of any right or remedy
granted hereunder or at law or equity.
SECTION 9
JOINT DEVELOPMENT
WRT has developed a unique point of sale interactive technology with a number of potential
retail and educational applications. Sealy has expertise in developing and commercializing a wide
range of consumer mattresses and related products as well as marketing and distributing those
products to retailers throughout North America. WRT and Sealy will continue to collaborate to
develop innovative Sealy-based, WRT sales applications that will aim to enhance the shopping
experience of Customers while in the retail store. The parties agree to discuss and negotiate
ownership of jointly developed intellectual property.
SECTION 10
TERM OF AGREEMENT
The initial term of this Agreement shall commence upon the full execution of this Agreement
and the Ancillary Agreements, and shall continue for three (3) years, subject to automatic renewals
for additional one (1) year terms; provided, however, that this Agreement shall expire at the end
of the initial term or any renewal term if within sixty (60) days of the end of such term, either
party gives notice to the other that it desires to have this Agreement expire at the end of said
term.
SECTION 11
INDEMNIFICATION; LIMITATION OF LIABILITY
11.1 Indemnification by WRT. WRT shall indemnify and hold Sealy harmless against all claims,
liabilities, losses, damages and causes of action based on: (a) any claim that WRT Technology,
when used by Sealy in accordance with this Agreement, has infringed any U.S. patent, copyright, or
other intellectual property rights; (b) an Event of Default by WRT; (c) any claim of death, bodily
injury or property damage as a result of WRT’s negligence or breach of its obligations under this
Agreement; or (d) any claim that WRT has failed to pay or otherwise has materially breached its obligations to a manufacturer or seller of Equipment
for the Systems or to a service provider to whom WRT has subcontracted one or more of its service
obligations under the Master Service Agreement.
11.2 Indemnification by Sealy. Sealy shall indemnify and hold harmless WRT against all
claims, liabilities, losses, damages and causes of action based on: (a) a claim that
12
involves the sale or use of Sealy’s products purchased by any party utilizing a System; (b) an Event of Default
by Sealy; (c) any claim of death, bodily injury or property damage as a result of Sealy’s
negligence or breach of its obligations under this Agreement; or (d) any claim that content
developed or provided by Sealy has infringed any U.S. patent, copyright, or other intellectual
property rights.
11.3 Disclaimer of Liability. NEITHER PARTY SHALL BE LIABLE TO THE OTHER FOR ANY (A)
SPECIAL, INDIRECT, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES, INCLUDING LOSS OF PROFITS,
ARISING FROM OR RELATED TO A BREACH OF THIS AGREEMENT OR THE OPERATION OR USE OF SYSTEMS, THE
EQUIPMENT OR WRT TECHNOLOGY INCLUDING SUCH DAMAGES, WITHOUT LIMITATION, ARISING FROM LOSS OF DATA
OR PROGRAMMING, LOSS OF REVENUE OR PROFITS, FAILURE TO REALIZE SAVINGS OR OTHER BENEFITS, DAMAGE
TO EQUIPMENT, AND THIRD PARTY CLAIMS AGAINST ONE PARTY, EVEN IF THE OTHER PARTY HAS BEEN ADVISED
OF THE POSSIBILITY OF SUCH DAMAGES; OR (B) DAMAGES (REGARDLESS OF THEIR NATURE) FOR ANY DELAY OR
FAILURE BY WRT TO PERFORM ITS OBLIGATIONS UNDER THIS AGREEMENT DUE TO ANY CAUSE BEYOND WRT’S
REASONABLE CONTROL
11.4 Limitation of Liability. NOTWITHSTANDING ANY OTHER PROVISION OF THIS AGREEMENT, THE
DAMAGES THAT EITHER PARTY MAY RECOVER FROM THE OTHER FOR BREACH OF THIS AGREEMENT, WHETHER UNDER
CONTRACT LAW, TORT LAW, WARRANTY OR OTHERWISE, SHALL BE LIMITED TO DIRECT DAMAGES AND SHALL NOT
EXCEED THE SUM OF THE AMOUNTS ACTUALLY RECEIVED BY WRT AND THE AMOUNTS DUE AND OWING TO WRT UNDER
THIS AGREEMENT.
SECTION 12
OBLIGATIONS THAT SURVIVE TERMINATION
The parties recognize and agree that their obligations under Sections 2.3, 2.4, 4.1, 6, 7, 8,
11, 13.1, 13.2, 13.3, 13.4, 13.5, 13.6, 13.10, 13.11, 13.12, and 13.13 of this Agreement shall
survive the termination or expiration of this Agreement; provided, that the representations and
warranties set forth in Section 7 shall terminate upon the earlier to occur of (i) the date that is
three years following the installation of the applicable System, (ii) the termination or expiration
of the manufacturer’s Equipment warranty for the applicable System, and (iii) the termination or
expiration of the Master Service Agreement.
SECTION 13
GENERAL
13.1 Force Majeure.
13.1.1 Neither party hereto shall be liable for failure to perform or delay in the
performance of any of its obligations hereunder, when such failure or delay is caused by
13
acts of God, the public enemy, war, acts of the elements, fires, riots, insurrection, civil
commotion, governmental acts and regulations or any other circumstance or condition beyond
the reasonable control of either party.
13.1.2 If the performance of either party is affected by any event of Force Majeure,
each party shall immediately notify in writing the other giving details of the event. The
performance of the party affected by such event of Force Majeure shall be suspended only for
as long as the event of Force Majeure and/or its effects on performance hereunder
continue(s), but the parties hereto shall consult and will use their commercially reasonable
efforts to find alternative means of accomplishing such performance which satisfies the
requirements of this Agreement. Immediately upon cessation of the event and its effects on
performance hereunder, the party affected by an event of Force Majeure shall notify the
other party in writing and shall take steps to recommence or continue the performance that
was suspended.
13.2 Relationship of Parties. WRT and Sealy are independent contractors and no relationship
of joint venturer, franchisee/franchisor, or partner is created by this Agreement and/or the
Ancillary Agreements.
13.3 Governing Law. This Agreement shall be governed by and construed in accordance with the
laws of the New York.
13.4 Junta. Sealy and WRT shall each designate two representatives to serve throughout the
term of this Agreement as members of a four-person group (the “Junta”), the purpose of which is to
identify, consider, and resolve by consensus or majority vote any dispute, controversy or claim
arising out of or relating to this Agreement or the performance by the parties of its terms. The
Junta shall meet and conduct business regularly at least one meeting on at least an annual basis
and specially at such other times as any member of the Junta shall request in order to address a
specific matter or matters that he or she believes cannot reasonably be deferred until the next
regular meeting. All meetings of the Junta shall be held in person, alternating between Sealy’s
offices in North Carolina and WRT’s offices in Minnesota, unless a majority of the members of the
Junta decide to hold the meeting at another location or to permit one or more of the members to
participate in the meeting by telephone. All special meetings of the Junta may be conducted by
telephone or in person. Should any member of the Junta resign, the party that designated the
resigning member shall promptly designate a replacement. Each party shall bear the travel and
other expenses of its representatives on the Junta, and the parties shall split all other costs of
the Junta. No arbitration pursuant to Section 13.5 below may be commenced by either party until at
least one meeting on the subject matter of the dispute has been held with at least one member from
each Sealy and WRT from the Junta. All offers of settlement or compromise made during deliberations of the Junta shall
be subject to Federal Rule of Evidence 408 and similar state rules of evidence and shall not be
admissible in any formal arbitration.
13.5 Arbitration. Any dispute, controversy or claim arising out of or relating to this
Agreement or the performance by the parties of its terms that is not resolved by consensus or
majority vote of the Junta in accordance with Section 13.4 may be resolved by binding arbitration
initiated by either party and held (i) if the arbitration is initiated by Sealy, in
14
Minneapolis, Minnesota, or (ii) if the arbitration is initiated by WRT, in Chicago, Illinois. The provisions
of Section 13.4 and this Section 13.5 shall be the exclusive dispute resolution procedures for any
and all matters arising out of or related to this Agreement pursuant to which any party is seeking
an award of money damage.
13.5.1 Unless the parties agree upon a single person to serve as the arbitrator, each
party shall appoint one person to serve as an arbitrator and the two arbitrators selected by
the parties shall select a third person to serve as an arbitrator and the three arbitrators
shall arbitrate the dispute, controversy or claim.
13.5.2 The arbitrator(s) may allow such discovery as the arbitrator(s) determine
appropriate under the circumstances and shall resolve the dispute as expeditiously as
practicable, and if reasonably practicable, within 120 days after the selection of the
arbitrator(s). Each party agrees to produce at its expense in Atlanta, Georgia, for
deposition (if allowed by the arbitrator(s)) and for testimony at the arbitration hearing
any witnesses within its control or in its employment if requested by the other party;
provided, however, that neither party shall be required to produce or pay the expenses of
more than five (5) witnesses. The arbitrator(s) shall give the parties written notice of
their award, with the reasons therefor set out, and shall have 30 days thereafter to
reconsider and modify such award if any party so requests within 10 days after the award.
13.5.3 The arbitrator(s) shall have authority to award relief under legal or equitable
principles. The parties shall equally split the arbitrator(s)’ fee and other costs of the
arbitration. However, each party shall be solely responsible for any attorneys fees such
party incurs pursuant to preparing for and participating in any such arbitration proceeding.
13.5.4 Judgment upon the award rendered by the arbitrator(s) may be entered by any
state or federal court of North Carolina or Minnesota or other court having in personam and
subject matter jurisdiction.
13.6 Export. Each party shall cooperate fully so that prior to exporting or reexporting any
Systems, WRT Technology or Equipment the parties will fully comply with all then current laws of
the United States including, without limitation, regulations of the United States Office of Export
Administration and other applicable U.S. governmental agencies.
13.7 Entire Agreement; Amendments. This Agreement, together with the Ancillary Agreements
and any and all exhibits, schedules and appendices attached hereto and thereto, constitutes the
entire agreement between the parties hereto with respect to the subject matter
hereof and supersedes any and all prior and contemporaneous representations, proposals,
agreements, negotiations, advertisements, statements, or understandings, whether oral or written.
No amendment to this Agreement shall be binding on either party unless such amendment is in
writing and executed by authorized representatives of both parties to this Agreement. No
provision of this Agreement shall be deemed waived, amended, discharged or modified orally or by
custom, usage or course of conduct unless such waiver, amendment or modification is in writing and
signed by an officer of each party hereto.
15
13.8 Assignment. Sealy may not assign or transfer its interests, rights or obligations
under this Agreement by written agreement, merger, consolidation, operation of law, or otherwise,
without the prior written consent of WRT, and any attempt by Sealy to assign this Agreement
without WRT’s prior written consent shall be null and void; provided, however, that Sealy shall
have the right to assign this Agreement to a successor by merger or a purchaser of all or
substantially all of its assets, if said successor or purchaser, as the case may be, agrees in
writing at or before said merger or sale to be bound by this Agreement and the Ancillary
Agreements. WRT may not assign or transfer its interests, rights or obligations under this
Agreement by written agreement, merger, consolidation, operation of law, or otherwise, including
without limitation assignment or transfer to the Backup Provider pursuant to the Backup Services
Agreement,, without the prior written consent of Sealy, and any attempt by WRT to assign this
Agreement without Sealy’s prior written consent shall be null and void; provided, however, that
WRT shall have the right to assign this Agreement to a successor by merger or a purchaser of all
or substantially all of its assets, if said successor or purchaser, as the case may be, agrees in
writing at or before said merger or sale to be bound by this Agreement and the Ancillary
Agreements.
13.9 Compliance with Laws. WRT and Sealy each shall comply with the provisions of all
applicable federal, state, county and local laws, ordinances, regulations and codes including, but
not limited to, WRT’s and Sealy’s identification and procurement of required permits,
certificates, approvals and inspections in WRT’s and Sealy’s performance of this Agreement.
13.10 Notice. Every notice and other communication by a party that is required or permitted
under this Agreement shall be in writing and shall be effective when and only when it has been (a)
transmitted by facsimile to the other party at the facsimile number below and also (b)
delivered in person, mailed by registered or certified mail, return receipt requested, with proper
postage affixed, or delivered by Federal Express or other commercial overnight courier to the
other party at the address set forth below:
To Sealy:
Sealy Corporation
Attn: Xxxxxxx X. Xxxxxx, Vice President — Legal Counsel and Assistant Secretary
Xxx Xxxxxx Xxxxxxx xx Xxxxx Xxxxx
Xxxxxxx, XX 00000
Facsimile: (000) 000-0000
Attn: Xxxxxxx X. Xxxxxx, Vice President — Legal Counsel and Assistant Secretary
Xxx Xxxxxx Xxxxxxx xx Xxxxx Xxxxx
Xxxxxxx, XX 00000
Facsimile: (000) 000-0000
To WRT:
Wireless Ronin Technologies, Inc.
Attn: Xxxx X. Xxxxxx
00000 Xxxxxx Xxxxx
Xxxx Xxxxxxx, XX 00000
Facsimile: 000-000-0000
Attn: Xxxx X. Xxxxxx
00000 Xxxxxx Xxxxx
Xxxx Xxxxxxx, XX 00000
Facsimile: 000-000-0000
16
13.11 Corporate Authority. The parties hereto represent and warrant that the persons signing
this Agreement on their behalf have been or will be duly authorized to do so prior to execution
and that this Agreement constitutes a valid and binding obligation of the parties hereto.
13.12 Construction of Agreement. The parties hereto acknowledge and agree that this
Agreement in its final, executed form is the result of substantial negotiation and drafting by
both parties and that neither party should be favored in the construction, interpretation or
application of any provision or ambiguity of this Agreement.
13.13 Severability. If any one or more of the provisions of this Agreement is for any reason
held invalid, illegal or unenforceable, the remaining provisions of this Agreement shall be
unimpaired.
13.14 Counterpart Originals. This Agreement may have two or more counterpart originals
which, taken together, shall be considered one and the same document.
17
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their duly
authorized representatives as of the date first above written.
WIRELESS RONIN TECHNOLOGIES, INC. | ||||||
By: | /s/ Xxxxxxx X. Xxxx
|
|||||
Name: Xxxxxxx X. Xxxx | ||||||
Title: CEO/President | ||||||
SEALY CORPORATION | ||||||
By: | /s/ Xxxxxxx X. Xxxxxx
|
|||||
Name: Xxxxxxx X. Xxxxxx | ||||||
Title: Vice President — Legal Counsel | ||||||
Assistant Secretary |
18
Exhibit A
Description of Systems
Description of Systems
• | SealyTouch™ with Communications |
• | 32” NEC Touch Screen Monitor (NEC #NEC3210BK w/capacitive touch screen) | ||
• | RoninCast EX Box (HP 7600 3GHZ) with wireless communications card | ||
• | Speaker Unit and cabling | ||
• | Sealy Stand — with POP Display Bracket | ||
• | Ethernet Hub and Linksys Access Point | ||
• | VGX and USB Cabling |
• | SealyTouch™ without Communications |
• | 32” NEC Touch Screen Monitor (NEC #NEC3210BK w/capacitive touch screen) | ||
• | RoninCast EX Box (HP 7600 3GHZ) | ||
• | Speaker Unit and cabling | ||
• | Sealy Stand — with POP Display Bracket | ||
• | VGX and USB Cabling |
Exhibit B
WIRELESS
RONIN ®
TECHNOLOGIES
00000 Xxxxxx Xxxxx
Xxxx Xxxxxxx, XX 00000
P: (000) 000-0000
F: (000) 000-0000
TECHNOLOGIES
00000 Xxxxxx Xxxxx
Xxxx Xxxxxxx, XX 00000
P: (000) 000-0000
F: (000) 000-0000
INVOICE
Invoice Number:
ml02
Invoice Date:
Nov 4, 2005
Page:
1
Invoice Number:
ml02
Invoice Date:
Nov 4, 2005
Page:
1
Sold To:
|
Ship to: |
Sealy Inc.
Xxx Xxxxxx Xxxxxxx
Xxxxxxx, XX 00000
Xxx Xxxxxx Xxxxxxx
Xxxxxxx, XX 00000
Customer ID | Customer PO | Payment Terms | ||
00085 | PO #1 Beta Test | Net 30 Days |
Sales Rep ID | Shipping Method | Ship Date | Due Date | |||
Airborne | 12/4/05 |
Quantity | Item | Description | Unit Price | Extension | ||||
27.00 |
STS-3210-N | Sealy Touch Stand Unit-No | 4,850.00 | 130,950.00 | ||||
Communication | 125.00 | 3,375.00 | ||||||
27.00 |
Installation | 24,500.00 | 24,500.00 | |||||
1.00 |
Content creation |
Subtotal | 158,825.00 | |||
Sales Tax | ||||
Total Invoice Amount | 158,825.00 | |||
Check/Credit Memo No: 391522
|
Payment/Credit Applied | 158,825.00 | ||
TOTAL | 0.00 |
WIRELESS RONIN ®
TECHNOLOGIES
00000 Xxxxxx Xxxxx
Xxxx Xxxxxxx, XX 00000
P: (000) 000-0000
F: (000) 000-0000
TECHNOLOGIES
00000 Xxxxxx Xxxxx
Xxxx Xxxxxxx, XX 00000
P: (000) 000-0000
F: (000) 000-0000
INVOICE
Invoice Number:
201
Invoice Date:
Nov l5, 2005
Page:
1
Invoice Number:
201
Invoice Date:
Nov l5, 2005
Page:
1
Sold To:
|
Ship to: |
Sealy Inc.
Xxx Xxxxxx Xxxxxxx
Xxxxxxx, XX 00000
Xxx Xxxxxx Xxxxxxx
Xxxxxxx, XX 00000
Customer ID | Customer PO | Payment Terms | ||
00085 | Beta #2 | Net 30 Days |
Sales Rep ID | Shipping Method | Ship Date | Due Date | |||
Xxxxx Xxxxxx | UPS Ground | 12/15/05 |
Quantity | Item | Description | Unit Price | Extension | ||||
25.00 |
STS-3210-N | Sealy Touch Stand Unit-No Communication | 4,850.00 | 121,250.00 | ||||
25.00 |
INS-001-NC | Sealy Touch Screen Installation-No Communication | 125.00 | 3,125.00 |
Subtotal | 124,375.00 | |||
Sales Tax | ||||
Total Invoice Amount | 124,375.00 | |||
Check/Credit Memo No: 391522
|
Payment/Credit Applied | 124,375.00 | ||
TOTAL | 0.00 |
Schedule 1.2
Installation Sites for Beta Test
Location Name | Install Date | Address | City | State | Zip | |||||||
Mattress Firm
|
10-Apr-06 | 00000 Xxxx XX 0000 Xxxxxx, Xxxx X | Xxxxxx | XX | 00000 | |||||||
Mattress Firm
|
10-Apr-06 | 0000 Xxxx Xxxxxxxxx Xx, Xxxxx X | Xxxxxxxxx | XX | 00000 | |||||||
Mattress Firm
|
10-Apr-06 | 0000 XX 0000 Xxxx | Xxxxxxx | XX | 00000 | |||||||
Mattress Firm
|
10-Apr-06 | 0000 Xxxxxxxxxx #000 | Xxxxxxx | XX | 00000 | |||||||
Mattress Firm
|
10-Apr-06 | 0000 Xxxx Xxxxxxx | Xxxxxxx | XX | 00000 | |||||||
Slumberland
|
11-Apr-06 | 0000 Xxxxxxxx Xx. | Xxxxx Xxxx | XX | 00000 | |||||||
Macy’s
|
11-Apr-06 | 0000 Xxxxxxxxx Xxx, | Xx. Xxxxx | XX | 00000 | |||||||
Macy’s
|
11-Apr-06 | 000 Xxxxx Xxxx Xxxxx, | Xxxxxxxx | XX | 00000 | |||||||
Macy’s
|
11-Apr-06 | 000 Xxxxxxxxx Xxxxx, | Xxxxx | XX | 00000 | |||||||
Macy’s
|
11-Apr-06 | 0000 X. Xxxxx Xxx, | Xxxxx | XX | 00000 | |||||||
Macy’s
|
11-Apr-06 | 0000 0xx Xxxxxx X., | Xxxxxx | XX | 00000 | |||||||
Boston/Carsons
|
12-Apr-06 | 0000 XXXX XXX. XXXXX 000 | Xxxxxxxx | XX | 00000 | |||||||
Boston/Carsons
|
12-Apr-06 | 000 X. XXXX XX. | Xxxxxxxxx | XX | 00000 | |||||||
Boston/Carsons
|
12-Apr-06 | 0 XXXXXXXX XXXX | Xxxxxxx | XX | 00000 | |||||||
Slumberland
|
12-Apr-06 | 0000 Xxxxxx Xxx. X. | Xxxxxxxxxxx | XX | 00000 | |||||||
Boston/Carsons
|
12-Apr-06 | 000 X. Xxxxx 00, Xxxxx 000 | Xxxxxxxxxx | XX | 00000 | |||||||
Slumberland
|
12-Apr-06 | 0000 Xxxxxx Xx. X | Xxxxxxxxx | XX | 00000 | |||||||
American TV
|
13-Apr-06 | 0000 XX 00xx Xx | Xxxxxxxx | XX | 00000 | |||||||
American TV
|
13-Apr-06 | 0000 Xxxxxx Xxxxxx Xxxxx | Xxxxxxxx | XX | 00000 | |||||||
Boston/Carsons
|
13-Apr-06 | 00000 X. XXXXXXXXX XX. | Xxxxxxxxxx | XX | 00000 | |||||||
American TV
|
13-Apr-06 | X000X0000 Xxxxxxxx Xxxxx | Xxxxxxxx | XX | 00000 | |||||||
American TV
|
13-Apr-06 | 0000 X. Xxxxxxxx Xxx | Xxxxxxx | XX | 00000 | |||||||
Slumberland
|
13-Apr-06 | 0000 X. Xxxx Xxxx Xx | Xxx Xxxxxx | XX | 00000 |
Schedule 2.1
Unit Price
Unit Price
Cost | ||||||
Sealy TouchTM | 3000 | |||||
without Communications | Part # | Description | Units | |||
Sealy Touch™ Stand Unit —NEC
|
XXX-0000-X | Xxxxx Touch™ Stand Unit-Complete unit without communications | $4,900.00 | |||
Sealy Touch™ Installation — NEC
|
INS-3210-N | Site visit, complete installation including shipping | $250.00 | |||
Total*:
|
$5,150.00 |
Cost | ||||||
Sealy TouchTM | 3000 | |||||
with Communications | Part # | Description | Units | |||
Sealy Touch™ Stand Unit — DSL |
STS-3210-D | Sealy Touch™ Stand Unit-Complete unit with internet communications | $5,525.00 | |||
Sealy Touch™ Installation — DSL |
INS-3210-D | Site visit, complete installation including shipping | $425.00 | |||
Total*: |
$5,950.00 |
Schedule 3.1
Installation Site Preparation Procedures
Installation Site Preparation Procedures
SealyTouch™ Stand Unit Installation
Pre-Installation Checklist
Pre-Installation Checklist
For successful SealyTouch™ installation each retail location must adhere to the following for
implementation success:
1. | Six weeks prior to installation, Wireless Ronin Technologies, Inc must have complete site information. This includes the following information: |
a. | Retail chain name | ||
b. | Shipping Address (Street, City, State, Zip Code). | ||
c. | Store Phone Number | ||
d. | Site Contact Information. (Mattress Department Manager) | ||
e. | Site Contact’s Business and/or Cell Phone Number to Aid in Receiving Shipment. |
2. | Prior to installation, Wireless Ronin Technologies, Inc requests that the following criteria and considerations have been fulfilled: |
a. | Placement of the unit has been determined prior to our arrival onsite. | ||
b. | Power requirements for the unit have been met. Power requirements are standard 110 volt dual plug 20-amp service at each location. | ||
c. | Network requirements have been met. (Depending on retail chain). Each DSL installation location will be required to have an operable DSL or Cable Modem line for network communication. |
3. | During Installation, Wireless Ronin Technologies, Inc requests the following while the SealyTouch Installer is on-site. |
a. | A clear area to assemble the SealyTouch™ unit away from high traffic areas, loud noises, or an environment otherwise considered unsafe for electronics. (Damp, wet, or areas affected by weather). | ||
b. | A two hour time period for installation without interruptions. (note: Most installations will take place in approximately 1 hour). |
4. | Upon completion of the installation, Wireless Ronin Technologies, Inc requests the retail location has an area to dispose of empty boxes, and packaging material. The technician will be responsible for removing trash from the store provided an area is available. |