Electromed, Inc. Sample Contracts

BUSINESS LOAN AGREEMENT
Business Loan Agreement • December 20th, 2013 • Electromed, Inc. • Electromedical & electrotherapeutic apparatus • Minnesota

THIS BUSINESS LOAN AGREEMENT dated December 18, 2013, is made and executed between Electromed, Inc. (“Borrower”) and Venture Bank (“Lender”) on the following terms and conditions. Borrower has received prior commercial loans from Lender or has applied to Lender for a commercial loan or loans or other financial accommodations, including those which may be described on any exhibit or schedule attached to this Agreement. Borrower understands and agrees that: (A) in granting, renewing, or extending any Loan, Lender is relying upon Borrower’s representations, warranties, and agreements as set forth in this Agreement; (B) the granting, renewing, or extending of any Loan by Lender at all times shall be subject to Lender’s sole judgment and discretion; and (C) all such Loans shall be and remain subject to the terms and conditions of this Agreement.

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COMMERCIAL SECURITY AGREEMENT
Commercial Security Agreement • December 20th, 2013 • Electromed, Inc. • Electromedical & electrotherapeutic apparatus • Minnesota
NONQUALIFIED STOCK OPTION AGREEMENT ELECTROMED, INC. 2014 EQUITY INCENTIVE PLAN
Nonqualified Stock Option Agreement • November 25th, 2014 • Electromed, Inc. • Electromedical & electrotherapeutic apparatus • Minnesota

THIS AGREEMENT, made effective as of this day of ___________, 20__, by and between Electromed, Inc., a Minnesota corporation (the “Company”), and _________________ (“Participant”).

RESTRICTED STOCK UNIT AGREEMENT ELECTROMED, INC. 2014 EQUITY INCENTIVE PLAN
Restricted Stock Unit Agreement • November 25th, 2014 • Electromed, Inc. • Electromedical & electrotherapeutic apparatus • Minnesota

THIS AGREEMENT, made effective as of this ___ day of ______________, 20___, by and between Electromed, Inc., a Minnesota corporation (the “Company”), and _____________________ (“Participant”).

INCENTIVE STOCK OPTION AGREEMENT ELECTROMED, INC. 2014 EQUITY INCENTIVE PLAN
Incentive Stock Option Agreement • November 25th, 2014 • Electromed, Inc. • Electromedical & electrotherapeutic apparatus • Minnesota

THIS AGREEMENT, made effective as of this ____ day of ____________, 20__, by and between Electromed, Inc., a Minnesota corporation (the “Company”), and __________________ (“Participant”).

ELECTROMED, INC. 2014 EQUITY INCENTIVE PLAN
Electromed, Inc. • November 25th, 2014 • Electromedical & electrotherapeutic apparatus • Minnesota
EMPLOYMENT AGREEMENT
Employment Agreement • June 5th, 2023 • Electromed, Inc. • Electromedical & electrotherapeutic apparatus • Minnesota

This Employment Agreement (“Agreement”) is made effective as of July 1, 2023 (the “Effective Date”) by and between Electromed, Inc., a Minnesota corporation (the “Corporation”) and James Cunniff, an individual (“Employee”) (collectively “Parties” or individually “Party”).

RESTRICTED STOCK AGREEMENT ELECTROMED, INC. 2014 EQUITY INCENTIVE PLAN
Restricted Stock Agreement • November 25th, 2014 • Electromed, Inc. • Electromedical & electrotherapeutic apparatus • Minnesota

THIS AGREEMENT is made effective as of this ____ day of _______________, 20__, by and between Electromed, Inc., a Minnesota corporation (the “Company”), and _________________________ (“Participant”).

ELECTROMED, INC. Non-Qualified Stock Option Agreement Under the 2017 Omnibus Incentive Plan
Qualified Stock Option Agreement • May 7th, 2019 • Electromed, Inc. • Electromedical & electrotherapeutic apparatus • Minnesota

Electromed, Inc., a Minnesota corporation (the “Company”), pursuant to its 2017 Omnibus Incentive Plan (the “Plan”), hereby grants an Option to purchase shares of the Company’s common stock, par value $0.01 per share (“Common Stock”), to you, the Participant named below. The terms and conditions of the Option Award are set forth in this Agreement, consisting of this cover page and the Option Terms and Conditions on the following pages, and in the Plan document, a copy of which has been provided to you. Any capitalized term that is not defined in this Agreement shall have the meaning set forth in the Plan as it currently exists or as it is amended in the future.

ELECTROMED, INC. Common Stock PURCHASE AGREEMENT
Purchase Agreement • July 7th, 2010 • Electromed, Inc. • Electromedical & electrotherapeutic apparatus • New York

FELTL AND COMPANY, INC. As Representatives of the several Underwriters named in Schedule I c/o Feltl and Company, Inc. 2100 LaSalle Plaza 800 LaSalle Avenue Minneapolis, Minnesota 55402

NON-COMPETITION, NON-SOLICITATION, AND CONFIDENTIALITY AGREEMENT
Non-Competition, Non-Solicitation, and Confidentiality Agreement • December 3rd, 2012 • Electromed, Inc. • Electromedical & electrotherapeutic apparatus • Minnesota

This NON-COMPETITION, NON-SOLICITATION, AND CONFIDENTIALITY AGREEMENT (the “Agreement”) is effective as of the 1st day of December, 2012, by and between Electromed, Inc. (the “Corporation”) and Kathleen Skarvan (the “Employee”).

COOPERATION AGREEMENT
Cooperation Agreement • July 25th, 2022 • Electromed, Inc. • Electromedical & electrotherapeutic apparatus • Minnesota

This Cooperation Agreement (this “Agreement”) is made and entered into as of July 25, 2022 by and among Electromed, Inc. (the “Company”) and the entities and natural persons set forth in the signature pages hereto (collectively, “Summers Value”) (each of the Company and Summers Value, a “Party” to this Agreement, and collectively, the “Parties”).

RIDER TO BUSINESS LOAN AGREEMENT (ASSET BASED) AND RELATED DOCUMENTS
Business Loan Agreement • December 15th, 2023 • Electromed, Inc. • Electromedical & electrotherapeutic apparatus

This Rider to Business Loan Agreement (Asset Based) (“Rider”) is attached to and made a part of that certain Business Loan Agreement (Asset Based) dated December 18, 2019 (as amended, restated, supplemented or otherwise modified from time to time, including by this Rider, the “Business Loan Agreement”), referring to that certain original Promissory Note # 15695 dated December 18, 2019 (as amended, restated, supplemented, extended, renewed, replaced or otherwise modified from time to time, including by this Rider and by the Change in Terms Agreement dated on or about the date hereof, the “Note”), in each case between Electromed, Inc. (“Borrower”) and Choice Financial Group (“Lender”). In the event of any inconsistency between this Rider, the Business Loan Agreement or any of the Related Documents as defined in the Business Loan Agreement (including any Change of Terms Agreement executed concurrently herewith), the terms of this Rider shall control. Terms used herein and not otherwise de

BUSINESS LOAN AGREEMENT (ASSET BASED)
Business Loan Agreement • December 20th, 2013 • Electromed, Inc. • Electromedical & electrotherapeutic apparatus • Minnesota

THIS BUSINESS LOAN AGREEMENT (ASSET BASED) dated December 18, 2013, is made and executed between Electromed, Inc. (“Borrower”) and Venture Bank (“Lender”) on the following terms and conditions. Borrower has received prior commercial loans from Lender or has applied to Lender for a commercial loan or loans or other financial accommodations, including those which may be described on any exhibit or schedule attached to this Agreement. Borrower understands and agrees that: (A) in granting, renewing, or extending any Loan, Lender is relying upon Borrower’s representations, warranties, and agreements as set forth in this Agreement; (B) the granting, renewing, or extending of any Loan by Lender at all times shall be subject to Lender’s sole judgment and discretion; and (C) all such Loans shall be and remain subject to the terms and conditions of this Agreement.

AMENDED AND RESTATED CREDIT AGREEMENT
Credit Agreement • February 14th, 2012 • Electromed, Inc. • Electromedical & electrotherapeutic apparatus • Minnesota

THIS AMENDED AND RESTATED CREDIT AGREEMENT, dated as of November 8, 2011, is by and between ELECTROMED, INC., a corporation organized under the laws of the State of Minnesota (the “Borrower”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association (the “Bank”).

SECURITY AGREEMENT
Security Agreement • May 3rd, 2010 • Electromed, Inc. • Electromedical & electrotherapeutic apparatus • Minnesota

THIS SECURITY AGREEMENT, dated as of December 9, 2009, is made and given by ELECTROMED, INC., a corporation organized under the laws of the State of Minnesota (the “Grantor”), to U.S. BANK NATIONAL ASSOCIATION, a national banking association (the “Secured Party”).

GUARANTY
Guaranty • May 3rd, 2010 • Electromed, Inc. • Electromedical & electrotherapeutic apparatus • Minnesota

THIS GUARANTY, dated as of December 9, 2009, is made and given by ELECTROMED FINANCIAL, LLC, a limited liability company organized under the laws of the State of Minnesota (the “Guarantor”), in favor of U.S. BANK NATIONAL ASSOCIATION, a national banking association (the “Lender”).

Restricted Stock Agreement
Restricted Stock Agreement • September 25th, 2018 • Electromed, Inc. • Electromedical & electrotherapeutic apparatus • Minnesota

Electromed, Inc., a Minnesota corporation (the “Company”), pursuant to its 2017 Omnibus Incentive Plan (the “Plan”), hereby grants to you, the Participant named below, an award of shares of the Company’s common stock, par value $0.01 per share (the “Common Stock”), whose vesting is subject the satisfaction of service-based conditions (the “Restricted Shares”). The terms and conditions of this Restricted Stock Award are set forth in this Restricted Stock Agreement (the “Agreement”), consisting of this cover page and the Terms and Conditions on the following pages, and in the Plan document, a copy of which has been provided to you. Any capitalized term used but not defined in this Agreement will be defined as provided in the Plan, as it currently exists or as it may be amended.

ELECTROMED, INC. Common Stock PURCHASE AGREEMENT
Purchase Agreement • August 18th, 2010 • Electromed, Inc. • Electromedical & electrotherapeutic apparatus • New York

FELTL AND COMPANY, INC. As Representatives of the several Underwriters named in Schedule I c/o Feltl and Company, Inc. 2100 LaSalle Plaza 800 LaSalle Avenue Minneapolis, Minnesota 55402

BUSINESS LOAN AGREEMENT (ASSET BASED)
Business Loan Agreement • November 10th, 2015 • Electromed, Inc. • Electromedical & electrotherapeutic apparatus • Minnesota

References in the boxes above are for Lender’s use only and do not limit the applicability of this document to any particular loan or item.

RIDER TO BUSINESS LOAN AGREEMENT (ASSET BASED) AND RELATED DOCUMENTS
Business Loan Agreement • December 17th, 2014 • Electromed, Inc. • Electromedical & electrotherapeutic apparatus

This Rider to Business Loan Agreement (Asset Based) (“Rider”) is attached to and made a part of that certain Business Loan Agreement (Asset Based) dated December 18, 2014 (“Business Loan Agreement”) between Electromed, Inc. (“Borrower”) and Venture Bank (“Lender”). In the event of any inconsistency between this Rider and the Business Loan Agreement or any of the Related Documents, as defined therein, the terms of this Rider shall control. Terms used herein and not otherwise defined shall have the meanings given such terms in the Business Loan Agreement. Accordingly, notwithstanding any provisions of the Business Loan Agreement or any of the Related Documents:

UNDERWRITER’S WARRANT AGREEMENT
Underwriter’s Warrant Agreement • October 4th, 2010 • Electromed, Inc. • Electromedical & electrotherapeutic apparatus • Minnesota

UNDERWRITER’S WARRANT AGREEMENT dated as of September 28, 2010 (this “Agreement”), between Electromed, Inc., a Minnesota corporation (the “Company”), and Feltl and Company, Inc. (hereinafter referred to as the “Underwriter”).

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RIDER TO BUSINESS LOAN AGREEMENT (ASSET BASED) AND RELATED DOCUMENTS
Business Loan Agreement • December 18th, 2018 • Electromed, Inc. • Electromedical & electrotherapeutic apparatus

This Rider to Business Loan Agreement (Asset Based) (“Rider”) is attached to and made a part of that certain Change in Terms Agreement dated December 18, 2018 (the “Change in Terms Agreement”), referring to that certain original Promissory Note # 15695 dated December 18, 2013 and related to that certain Business Loan Agreement (Asset Based) dated December 18, 2016 (as amended to date, the “Business Loan Agreement”), in each case between Electromed, Inc. (“Borrower”) and Choice Financial Group (formerly Venture Bank) (“Lender”). In the event of any inconsistency between this Rider, the Change in Terms Agreement, the Business Loan Agreement or any of the Related Documents as defined in the Business Loan Agreement (including any Change of Terms Agreement executed concurrently herewith), the terms of this Rider shall control. Terms used herein and not otherwise defined shall have the meanings given such terms in the Business Loan Agreement. Accordingly, notwithstanding any provisions of th

ELECTROMED, INC. Restricted Stock Award Agreement Under the 2017 Omnibus Incentive Plan
Restricted Stock Award Agreement • September 25th, 2018 • Electromed, Inc. • Electromedical & electrotherapeutic apparatus • Minnesota

Electromed, Inc., a Minnesota corporation (the “Company”), pursuant to its 2017 Omnibus Incentive Plan (the “Plan”), hereby grants an award of Restricted Stock to you, the Participant named below. The terms and conditions of this Restricted Stock Award are set forth in this Restricted Stock Award Agreement (the “Agreement”), consisting of this cover page and the Terms and Conditions on the following pages, and in the Plan document, a copy of which has been provided to you. To the extent any capitalized term used in this Agreement is not defined, it shall have the meaning assigned to it in the Plan as it currently exists or as it is amended in the future.

NEW EMPLOYMENT AGREEMENT
New Employment Agreement • May 3rd, 2010 • Electromed, Inc. • Electromedical & electrotherapeutic apparatus • Minnesota

This New Employment Agreement (“Agreement”) is effective as of January 1, 2010 (the “Effective Date”), by and among Electromed, Inc., a Minnesota corporation (the “Corporation”), and Terry Belford (“Employee”).

RIDER TO BUSINESS LOAN AGREEMENT (ASSET BASED) AND RELATED DOCUMENTS
Business Loan Agreement • December 16th, 2016 • Electromed, Inc. • Electromedical & electrotherapeutic apparatus

This Rider to Business Loan Agreement (Asset Based) (“Rider”) is attached to and made a part of that certain Business Loan Agreement (Asset Based) dated December 18, 2016 (“Business Loan Agreement”) between Electromed, Inc. (“Borrower”) and Venture Bank (“Lender”). In the event of any inconsistency between this Rider and the Business Loan Agreement or any of the Related Documents, as defined therein, the terms of this Rider shall control. Terms used herein and not otherwise defined shall have the meanings given such terms in the Business Loan Agreement. Accordingly, notwithstanding any provisions of the Business Loan Agreement or any of the Related Documents:

AMENDED AND RESTATED EMPLOYMENT AGREEMENT
Employment Agreement • July 15th, 2014 • Electromed, Inc. • Electromedical & electrotherapeutic apparatus • Minnesota

This Amended and Restated Employment Agreement (the “Amended Employment Agreement”) is effective as of July 1, 2014 (the “Effective Date”), by and among Electromed, Inc., a Minnesota corporation (the “Corporation”), and Kathleen Skarvan (“Employee”).

ELECTROMED, INC. Restricted Stock Agreement (Non-Employee Directors)
Restricted Stock Agreement • February 13th, 2024 • Electromed, Inc. • Electromedical & electrotherapeutic apparatus • Minnesota

Electromed, Inc., a Minnesota corporation (the “Company”), pursuant to its 2023 Equity Incentive Plan (the “Plan”), hereby grants to you, the Participant named below, an award of Restricted Stock, whose vesting is subject the satisfaction of service-based conditions. The terms and conditions of this Restricted Stock Award are set forth in this Restricted Stock Agreement (the “Agreement”), consisting of this cover page and the Terms and Conditions on the following pages, and in the Plan document, a copy of which has been provided to you. Any capitalized term used but not defined in this Agreement will be defined as provided in the Plan, as it currently exists or as it may be amended.

Electromed Option Agreement]
Electromed, Inc. • February 14th, 2012 • Electromedical & electrotherapeutic apparatus

This is to let you know that you have been awarded options to purchase shares of common stock of Electromed, Inc. pursuant to the Electromed, Inc. 2012 Stock Incentive Plan (the “Plan”) as follows:

SIXTH AMENDMENT TO CREDIT AGREEMENT
Credit Agreement • July 10th, 2013 • Electromed, Inc. • Electromedical & electrotherapeutic apparatus • Minnesota

This SIXTH AMENDMENT TO CREDIT AGREEMENT (this “Amendment”), made and entered into as of July 8, 2013, is by and between Electromed, Inc., a Minnesota corporation (the “Borrower”), and U.S. Bank National Association, a national banking association (the “Bank”).

RIDER TO BUSINESS LOAN AGREEMENT (ASSET BASED) AND RELATED DOCUMENTS
Business Loan Agreement • December 17th, 2019 • Electromed, Inc. • Electromedical & electrotherapeutic apparatus

This Rider to Business Loan Agreement (Asset Based) (“Rider”) is attached to and made a part of that certain Business Loan Agreement (Asset Based) dated December 18, 2019 (as amended, restated, supplemented or otherwise modified from time to time, including by this Rider, the “Business Loan Agreement”), referring to that certain original Promissory Note # 15695 dated December 18, 2019 (as amended, restated, supplemented, extended, renewed, replaced or otherwise modified from time to time, including by this Rider, the “Note”), in each case between Electromed, Inc. (“Borrower”) and Choice Financial Group (“Lender”). In the event of any inconsistency between this Rider, the Business Loan Agreement or any of the Related Documents as defined in the Business Loan Agreement (including any Change of Terms Agreement executed concurrently herewith), the terms of this Rider shall control. Terms used herein and not otherwise defined shall have the meanings given such terms in the Business Loan Agr

SEPARATION AGREEMENT AND RELEASE OF CLAIMS
Separation Agreement and Release of Claims • September 26th, 2012 • Electromed, Inc. • Electromedical & electrotherapeutic apparatus • Minnesota

This Separation Agreement and Release of Claims (“Separation Agreement”) is entered into by and between Electromed, Inc., a Minnesota corporation (“Electromed”) and Robert D. Hansen (“Hansen”).

EMPLOYMENT AGREEMENT
Employment Agreement • October 19th, 2011 • Electromed, Inc. • Electromedical & electrotherapeutic apparatus • Minnesota

This Employment Agreement (“Agreement”) is effective as of October 18, 2011 (the “Effective Date”), by and among Electromed, Inc., a Minnesota corporation (the “Corporation”), and Jeremy Brock (“Employee”).

EMPLOYMENT AGREEMENT
Employment Agreement • February 21st, 2012 • Electromed, Inc. • Electromedical & electrotherapeutic apparatus • Minnesota

This Employment Agreement (“Agreement”) is effective as of February 15th, 2012 (the “Effective Date”), by and among Electromed, Inc., a Minnesota corporation (the “Corporation”), and James Cassidy (“Employee”).

Contract
Electromed, Inc. • May 3rd, 2010 • Electromedical & electrotherapeutic apparatus • Minnesota

THIS INSTRUMENT WAS PREPARED BY, AND WHEN RECORDED SHOULD BE RETURNED TO: Dorsey & Whitney LLP (CHMH) Suite 1500 50 South Sixth Street Minneapolis, Minnesota 55402-1498

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