EXHIBIT
10.18


SEVENTH AMENDMENT
TO THE FIRST RESTATEMENT OF THE

MERIT MEDICAL SYSTEMS, INC.

401(k) PROFIT SHARING PLAN


This
Seventh Amendment to the First Restatement of the Merit Medical Systems, Inc.
401(k) Profit Sharing Plan (the “Plan”) is made and adopted effective as of
January 1, 2006, to read as follows:


WHEREAS,
Merit Medical Systems, Inc. (the “Company”), maintains the Plan for the benefit
of its employees and the employees of its participating subsidiaries; and


WHEREAS,
the Company desires to amend the Plan to reflect the “final” regulations with
respect 401(k) plans that became effective with respect to the Plan on January
1, 2006 and to make certain other changes; and


WHEREAS,
the Company has reserved the right to amend the Plan.


NOW,
THEREFORE, the Plan is hereby amended as follows, effective January 1, 2006
except as otherwise specifically provided below:


1.             Article III B 1 (b) of the Plan is
amended to add the following sentence at the end thereof:


“The Administrator shall
allow Participants to make Salary Reduction Contribution elections at least
once each Plan Year.  All Salary
Reduction Contributions shall be made from cash Compensation only.”


2.             Article III B 4 of the Plan is amended to add the
following sentence immediately after the first sentence thereof:


“The Plan shall apply the
ADP Test using the “prior year” testing method and in accordance with the
requirements and limitations of Regulation Sections 1.401(k)-1(b)(1)(ii)(A) and
1.401(k)-2, the provisions of which are hereby incorporated by reference.”


3.             Article III B 4 (d)(3) of the Plan
document is amended to add the following sentence at the end thereof:


“With respect to
corrective distributions under this Article III B 4 (d) of Excess Contributions
that are attributable to Plan Years commencing on or after January 1, 2006,
income attributable to such amounts shall: 
(i) also include allocable gain and loss for the “gap period” between
the close of the Plan Year in question and the date that is seven days before
the date of distribution; and (ii) be computed in accordance with such methods
as the













 


Plan Administrator
determines and as are permitted under Section 1.401(k)-2(b)(2)(iv) of the
Regulations, as applicable.”


4.             Article III B 5 of the Plan is amended to add the
following sentence immediately after the first sentence thereof:


“The Plan shall apply the
ACP Test using the “prior year” testing method and in accordance with the
requirements and limitations of Regulation Sections 1.401(m)-1(b), the
provisions of which are hereby incorporated by reference.”


5.             Article III B 5(d)(3) of the Plan
document is amended to add the following sentence at the end thereof:


“With respect to
corrective distributions under this Article III B 5 of Excess Aggregate
Contributions that are attributable to Plan Years commencing on or after
January 1, 2006, income attributable to such amounts shall:  (i) also include allocable gain and loss for
the “gap period” between the close of the Plan Year in question and the date
that is seven days before the date of distribution; and (ii) be computed in
accordance with such methods as the Plan Administrator determines and as are
permitted under Sections 1.401(k)-2(b)(2)(iv) and 1.401(m)-1(e)(3)(ii) of the
Regulations, as applicable.”


6.             The second sentence of Article VI D
2 of the Plan document, relating to Hardship Distributions, is amended to read
as follows effective December 1, 2006:


“Hardship Distributions
are permitted for the following, enumerated 
immediate and heavy financial needs (and for any other immediate and
heavy financial need that the Administrator determines on a uniform and
non-discriminatory basis permits a hardship distribution in conformity  with published Internal Revenue Service
guidance): (a) expenses for (or necessary to obtain) medical care that would be
deductible under Code Section 213(d) (determined without regard to whether the
expenses exceed 7.5% of adjusted gross income); (b) the costs directly related
to the purchase (excluding mortgage payments) of a principal residence for Participant;
(c) payment of tuition, related educational fees, and room and board expenses
for the next 12 months of post-secondary education for the Participant and the
Participant’s spouse, children, or dependents (as defined in Code Section 152
without regard to Code Sections 152(b)(1), (b)(2) and (d)(1)(B)); (d) payments
necessary to prevent the eviction of the Participant from the Participant’s
principal residence or foreclosure on the mortgage on that residence; (e)
payments for burial and funeral expenses for the Participant’s deceased parent,
spouse, children or dependents (as defined in Code Section 152 without regard
to Code Sections 152(b)(1), (b)(2) and (d)(1)(B)); and (e) expenses for the
repair of damage to the



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Participant’s principal
residence that would qualify for a casualty deduction under Section 165
(determined without regard to whether the loss exceeds 10% of adjusted gross
income).”


7.             Article X B 2(a) of the Plan document is amended to add
the following sentence at the end thereof effective December 1, 2006:


“Any provision herein to
the contrary notwithstanding, Participant-directed elections under the Plan to
invest in Employer Stock or to buy, sell or trade Employer Stock as a
Participant directed investment shall be subject to all limitations and
restrictions set forth in the Merit Medical Systems, Inc. insider trading
policy in effect at the time in question, which policy generally prohibits
certain executive officers from trading in Employer Stock during periodic “blackout
periods” prior to Merit Medical Systems, Inc.’s release of quarterly and annual
financial statements.”


8.             Article XVII K of the Plan document is hereby added to
the Plan to read as follows:


“K.          Determination of Spousal Status.


For all purposes under
the Plan, a Participant’s “spouse” shall mean the person to whom a Participant
is recognized as legally married under the law of the State in which the
Participant resides at the time in question, but only if: (a) such person also
qualifies as the Participant’s “spouse” for purposes of Sections 401(a)(11) and
402(c)(9) of the Code; and (b) the marriage conforms to the definition of “marriage”
contained in, and does not violate, the federal “Defense of Marriage Act” (P.L.
104-199).”  Under the federal Defense of
Marriage Act, “marriage” is defined as “a legal union between one man and one
woman as husband and wife.”  A
Participant’s “surviving spouse” means the person who was the Participant’s
spouse immediately prior to the time of the Participant’s death.”


9.             Except as provided above, the Plan is hereby ratified
and confirmed in all respects.


IN WITNESS WHEREOF, Merit Medical Systems, Inc. has
caused this Seventh Amendment to be executed by its duly authorized officer
this _27th_ day of December, 2006.


	
  

  	
  MERIT MEDICAL SYSTEMS, INC.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Fred P. Lampropoulos

  
	
   

  	
  Name:

  	
  Fred P. Lampropoulos

  
	
   

  	
  Title:

  	
  President and Chief Executive Officer

  



 



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