Memorandum of Understanding Between Competitive Technologies, Inc. and GEOMC Co., Ltd. Regarding Revenue Splits for Calmare Therapy MC-5A Unit Sales

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Summary

This agreement between Competitive Technologies, Inc. (CTT) and GEOMC Co., Ltd. outlines how revenue from sales of the Calmare Therapy MC-5A Unit will be divided. GEOMC will receive a specified amount for each unit sold, and both companies will equally share the cost of sample units. The terms will be reviewed and may be adjusted as needed. The agreement is signed by the presidents and CEOs of both companies.

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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