Exhibit 10.14
PATENT ASSIGNMENT
This Patent Assignment, effective
as of June 18, 2008 , is executed by Marshal C. Ryan
(hereinafter “Ryan” or “Assignor”), in
favor of BioDrain Medical, Inc. , a Minnesota corporation,
having an address at 699 Minnetonka Highlands Lane, Orono, MN,
55356-9728 (hereinafter “BioDrain” or
“Assignee”).
WHEREAS, Ryan is the named
inventor of United States Patent Application No. 10/524,086 having
a filing date of February 9, 2005 and entitled “Method and
Apparatus For Disposing of Liquid Surgical Waste For Protection of
Healthcare Workers”, and is a named inventor of related
European Patent No. EP1539580 issued April 4, 2007 entitled
“Method and Apparatus For Disposing of Liquid Surgical Waste
For Protection of Healthcare Workers” (collectively the
“Patents”).
WHEREAS, pursuant to the terms
and conditions of a separate written consulting agreement executed
by Ryan and BioDrain concurrently herewith, Ryan is obligated to
execute this Assignment;
NOW, THEREFORE, in furtherance of
the above recitals and for other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged,
Assignor does hereby sell, assign, transfer and set over unto
Assignee, the entire right, title and interest in and to the
Patents and the inventions disclosed and/or claimed therein, along
with
