Exhibit 10.1

 

FINAL SETTLEMENT AGREEMENT AND UNCONDITIONAL RELEASE

 

This Final Settlement Agreement and Unconditional Release (“Settlement”) is
entered into between Todd E. Leonard and his attorneys (“Leonard”), and
ProUroCare, Inc. and ProUroCare Medical, Inc., and their divisions, operations,
parents, subsidiaries, affiliates, management companies or entities,
predecessors, successors, insurers, and assigns, and past and present owners,
directors, stockholders, officers, trustees, agents, employees, attorneys and
representatives (“PUC”)(collectively, “Parties”). The Parties have entered into
this Agreement to fully and finally settle any and all differences between them
that have arisen out of the negotiation of Parties’ August 1, 2005 Settlement
Agreement (attached hereto), PUC’s alleged breach of said Settlement Agreement
and Case No. CT 05-017496 pending before Hennepin County District Court. The
Parties have agreed to the following terms and conditions:

 

1.                                       In consideration for the promises set
forth in this Settlement, PUC shall pay, via cashiers’ checks:

 

A.                                   The amounts set forth in paragraphs
1(A)-1(C) of the Parties’ August 1, 2005 Settlement Agreement consistent with
the terms therein. The Parties agree these payments shall satisfy PUC’s
obligations under Paragraphs 1(A)-1(C) of the August 1, 2005 Settlement
Agreement.

 

B.                                     Leonard and Nichols, Kaster & Anderson,
jointly, a sum of $17,000 as interest, costs and attorneys’ fees incurred in the
prosecution of Case No CT-05-017496. PUC shall issue Nichols, Kaster & Anderson
a 1099 Form reflecting the foregoing payment.

 

2.                                       In consideration for the terms and
conditions set forth in this Settlement, the Parties further agree to the
following:

 

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A.                                   The Parties confirm their rights,
obligations and responsibilities under Paragraphs 2(A),, (B), (C), (D), (E),
(F), (H) and (I), and 7 of the August 1, 2005 Settlement Agreement and
incorporate them herein by reference. In addition, the Parties agree to the same
terms of said paragraphs for purposes of this Settlement and resolution of the
issues set forth in the introductory paragraph as if they were set forth herein
and referenced the issues in the introductory paragraph.

 

B.                                     The Parties’ counsel shall execute and
file the Joint Stipulation For Dismissal, attached hereto as Exhibit A.

 

3.                                       The Parties agree and understand that
any claims or actions relating to this Settlement shall be brought only in the
State of Minnesota. The Parties further agree that to the extent any state law
shall apply to any dispute arising out of this Settlement, Minnesota law shall
apply.

 

4.                                       Except as incorporated herein, this
Settlement sets forth the entire agreement between the Parties, and fully
supersedes any and all prior discussions, offers, negotiations, representations,
letters, agreements or understandings between the Parties concerning the subject
matter described in the introductory paragraph.

 

5.                                       If any provision of, or portion
thereof, this Settlement is found to be unenforceable, illegal or void by a
court or agency of competent jurisdiction, the other provisions, or the
remainder of the unenforceable, illegal or void provision, of this Settlement,
shall remain valid and fully enforceable, and the court or agency shall
interpret the remaining provisions, or insert such other terms, to effectuate
the Parties’ intent.

 

6.                                       The payments described in Paragraph 1
above shall be made simultaneous with PUC’s delivering an executed copy of this
Settlement to Leonard’s counsel.

 

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PROUROCARE, INC., AND
PROUROCARE MEDICAL, INC.

 

 

 

 

 

 

Dated:

March 3, 2006

 

By:

/s/Maurice R. Taylor, II

 

 

 

Maurice R. Taylor, II

 

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I HAVE READ AND UNDERSTAND THE ABOVE AND VOLUNTARILY ENTER INTO THIS FINAL
SETTLEMENT AGREEMENT AND UNCONDITIONAL RELEASE

 

 

Dated:

 

 

By:

 

 

 

 

Todd E. Leonard

 

 

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