Document:

Exhibit
        10.1

      

      English
        Translation of 

      

      CONTRACT
        No. ......

      

      Pavlograd,
        ........... ..., 2007 

      

      The
        Pavlogradkii Zavod Tekhnologicheskogo Oborudovaniya (PZTO), hereinafter:
        the
        Seller, represented by its general manager Sazonov Vitali Robertovich, acting
        in
        accordance with its Article, on the one hand, and Ukcyl Ltd., hereinafter:
        the
        Buyer, represented by its manager Zhdankin Anatolii Pavlovich, acting in
        accordance with its Articles, have entered in the following
        Contract:

      

      
        
          1.  OBJECT
            OF THE CONTRACT

        

      

      

      
        	
                1.1

              	
                The
                  Seller undertakes to prepare and deliver yielding the ownership
                  rights,
                  whereas the Buyer undertakes to accept and pay for, the products,
                  hereinafter: “the Equipment”, subject to the conditions set out
                  below.

              

      

      

      
        	
                1.2

              	
                The
                  designation, technical requirements, total quantity of the products
                  to be
                  prepared and delivered, the general cost and the delivery times
                  are
                  determined in the Specifications, which constitute an integral
                  part of
                  this Contract.

              

      

      

      
        
          2.  QUALITY
            AND COMPLETENESS OF THE PRODUCTS

        

      

      

      
        	
                2.1

              	
                The
                  quality and completeness of the delivered products shall correspond
                  to the
                  Technical Conditions (TC) and the Design Documentation
                  (DD).

              

      

      

      
        	
                2.2

              	
                Over
                  a period of one month from the signing hereof the Seller shall
                  deliver and
                  coordinate with the Buyer the DD of the corresponding Equipment
                  to be
                  delivered.

              

      

      

      
        	
                2.3

              	
                The
                  technical acceptance of the manufactured Equipment shall be conducted
                  by
                  the Seller in accordance with the TC and the DD, together with
                  the
                  representative of the Buyer. The results of this acceptance testing
                  shall
                  be formulated as a technical acceptance protocol of the
                  Equipment.

              

      

      

      
        	
                2.4

              	
                The
                  Seller shall perform the crucial factory testing in the presence
                  of the
                  Buyer’s representatives and prepare a corresponding delivery-acceptance
                  protocol of the factory testing.

              

      

      

      
        	
                2.5

              	
                The
                  Buyer shall provide the Seller with pipes for making factory acceptance
                  testing within the deadlines and extent stated by the Seller. The
                  Seller
                  shall notify the Buyer two months in advance of the performance
                  of factory
                  acceptance testing. During the indicated period the Buyer shall
                  deliver
                  pipes for the testing in accordance with Annex 1. The Seller shall
                  cooperate with the Buyer in the acquisition of the necessary quantity
                  of
                  pipes for the testing.

              

      

      

      
        	
                2.6

              	
                The
                  quality of the Equipment to be delivered hereunder shall correspond
                  to the
                  current State Standards of the Ukraine and the standard-technical
                  documentation, including the TC and
                  DD.

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	
                2.7

              	
                The
                  Equipment shall fully correspond to the technical requirements
                  enclosed
                  herewith as an integral part hereof (“Annex
                  1”).

              

      

      

      
        	
                2.8

              	
                The
                  Seller shall carry out the contract-supervision commissioning works
                  in the
                  presence of Buyer’s representatives and the training of Buyer personnel in
                  accordance with Annex 4 to this
                  Contract.

              

      

      

      
        	
                2.9

              	
                The
                  warranty period for the Equipment is set at 12 months from the
                  day of the
                  final protocol in accordance with Annex 4 to this Contract, for
                  of the
                  seam machine it is set at 18 month.

              

      

       

      
        	
                2.10

              	
                In
                  the event of defects or noncompliance of the Equipment or its assembly
                  and/or any part thereof with the technical requirements within
                  a period of
                  12 months (for of the seam machine within a period of 18 month)
                  from the
                  day of contract supervision in the course of use of the Equipment
                  in
                  accordance with the operation rules, the Seller shall immediately
                  and not
                  later than 14 calendar days eliminate the observed defects by way
                  of
                  repair and/or replacement of different units thereof at no additional
                  charge to the Buyer. In such case the warranty period shall be
                  extended by
                  the duration of repair of the observed defects in the Equipment
                  by the
                  Seller.

              

      

       

      
        
          3.  DELIVERY
            DEADLINES AND PROCEDURE

        

      

      

      
        	
                3.1

              	
                The
                  Seller shall make the Equipment within the deadlines established
                  in the
                  Specification (Annex 2) to this Contract, as an integral part
                  hereof.

              

      

      

      
        	
                3.2

              	
                The
                  date of receipt of the advance payment to the bank account of the
                  Seller
                  according to art. 4.2 hereof shall constitute the beginning of
                  the
                  works.

              

      

      

      
        	
                3.3

              	
                The
                  finished Equipment with the merchandise documents shall be delivered
                  on
                  EXW terms at the Seller’s warehouse in the city of Pavlograd (in
                  accordance with INCOTERMS, 2000). The Buyer shall pay for the Equipment
                  and take it from the Seller’s warehouse within 10 days from notice by the
                  Seller that the Equipment is ready, after which the Equipment shall
                  be
                  handed over to registered storage.

              

      

      

      
        	
                3.4

              	
                The
                  Seller may prepare the Equipment ahead of schedule, whereupon the
                  Buyer
                  shall accept it and pay for it if notified in writing two months
                  in
                  advance of the respective date.

              

      

      

      
        	
                3.5

              	
                List
                  of the merchandise documents:

              

      

      

      
        	 	
                -

              	
                Expense
                  certificate

              

      

      
        	 	
                -

              	
                Tax
                  certificate

              

      

      
        	 	
                -

              	
                Invoice
                  for the delivered products

              

      

      
        	 	
                -

              	
                “Passport”
                  (label) marked ETK certifying that the Equipment corresponds in
                  quality to
                  the respective technical
                  documentation

              

      

      
        	 	
                -

              	
                Set
                  of technical documents according to Annex
                  1.

              

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        
          4.  PRICE
            AND MODE OF PAYMENT

        

      

      

      
        	
                4.1

              	
                The
                  Buyer shall pay for the Equipment at the agreed prices as indicated
                  in the
                  Specification (Annex 2).

              

      

      

      
        	
                4.2

              	
                The
                  Buyer shall prior to the beginning of the works made an advance
                  payment of
                  30% of the amount indicated in the Specification for the purchase
                  of the
                  materials, purchased products and technologic preparation of the
                  manufacture.

              

      

      

      
        	
                4.3

              	
                The
                  advance payment shall take place within 10 banking days from the
                  time of
                  signing the Contract; any delay thereof shall lead to a corresponding
                  delay of the manufacture deadline.

              

      

      

      
        	
                4.4

              	
                The
                  balance of the price shall be paid by the Buyer according to the
                  schedule
                  of payment (Annex 3), which constitutes an integral part of this
                  Contract.
                  Any subsequent payment shall take place after the acceptance by
                  the Buyer
                  of the obligations of the “Seller” according to Annex
                  3..

              

      

      

      

      
        	
                4.5

              	
                The
                  total amount of the Contract is 2,828,000.00 grn (two milliosn
                  eight
                  hundred twenty eight thousand griven) including
                  VAT.

              

      

       

      
        
          5.  OBLIGATIONS
            OF THE PARTIES

        

      

      

      
        	
                5.1

              	
                The
                  mutual obligations and relations of the parties inasmuch as not
                  stipulated
                  herein shall be governed by the current laws of the
                  Ukraine.

              

      

      

      
        	
                5.2

              	
                In
                  case of breach of payment deadlines according to Annex 3 by more
                  than five
                  banking days hereunder, the Buyer shall pay the Seller a fine
                  corresponding to twice the accounting rate of NBU as related to
                  the period
                  covered by the fine, from the amount of the payment in arrears
                  or the
                  amount of delayed delivery of the product per day of
                  arrears.

              

      

      

      
        	
                5.3

              	
                The
                  Seller shall pay to the Buyer a fine of 0.1% per day of arrears
                  in the
                  elimination of encountered defects in the Equipment (art. 2.10
                  of the
                  Contract) after 5 days of arrears.

              

      

      

      
        	
                5.4

              	
                The
                  Seller shall pay the Buyer a fine of 0.1% per day of arrears in
                  delivery
                  of the Equipment (art. 3.3 or 3.4 of the Contract) after 5 days
                  of arrears
                  from the value of the undelivered Equipment or non-fulfillment
                  of the
                  obligations according to Anex 3 after 5 days of
                  arrears..

              

      

      

      
        	
                5.5

              	
                In
                  case of refusal by the Seller to deliver Equipment that has been
                  paid for,
                  the Seller shall refund the money to the Buyer plus a fine of 10%
                  of the
                  total amount of the Contract.

              

      

      

      
        	
                5.6

              	
                In
                  case of non-fulfillment by the Buyer the contract-supervision works
                  in
                  time in accordance to Anex 4, The Seller shall pay the Buyer a
                  fine of
                  0.1% per day of arrears in delivery of the Equipment (art. 3.3
                  or 3.4 of
                  the Contract) after 5 days of arrears from the value of non-installed
                  or
                  non-operating Equipment.

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        
          6.  FORCE
            MAJEURE

           

        

      

      
        	
                6.1

              	
                In
                  the event of circumstances that preclude a full or partial performance
                  of
                  this Contract, such as fire, natural disaster, war, military activities
                  of
                  any nature, strikes, blockades, religious tumults, etc., the time
                  limit
                  established for the discharge of obligations hereunder shall be
                  extended
                  by the duration of such force majeure
                  circumstances.

              

      

      

      
        	
                6.2

              	
                In
                  the event of force majeure circumstances prevailing for more than
                  one
                  month, the Seller or the Buyer may terminate this Contract without
                  any
                  legal consequences or arbitration, and without any liability on
                  the part
                  of the party where such circumstances
                  occur.

              

      

      

      
        	
                6.3

              	
                In
                  the event of such circumstances of force majeure, the affected
                  party shall
                  within 10 days notify the other party to this effect, enclosing
                  documents
                  issued by the Ukrainian Chamber of Commerce and Industry in confirmation
                  of the said circumstances. For failure to comply with the foregoing
                  provision the affected party is not entitled to refer to any force
                  majeure
                  circumstances.

              

      

      

      
        	
                6.4

              	
                Upon
                  the disappearance of the said circumstances the respective party
                  shall
                  immediately notify the other party, in which case the former party
                  shall
                  not be liable for any further breach of its obligations
                  hereunder.

              

      

       

      
        
          7.  PARTICULAR
            CONDITIONS

        

      

      

      
        	
                7.1

              	
                Amendments
                  introduced by the Buyer in the DD with the consent of the Seller
                  shall be
                  obligatory for both parties. The expenses involved in these amendments
                  shall be subject to an additional calculation and a Price Protocol
                  with
                  the consent of the Buyer and payable by the
                  Buyer.

              

      

      

      
        	
                7.2

              	
                A
                  coordination of accounts between the Seller and the Buyer shall
                  take place
                  every quarter.

              

      

      

      
        	
                7.3

              	
                In
                  case of a stoppage of work or termination of the Contract by fault
                  of the
                  Buyer, the works carried out under the Contract shall be paid for
                  in
                  accordance with a Protocol of Performed Works. In such case the
                  Seller
                  shall deliver the paid part of the Equipment to the
                  Buyer.

              

      

      

      
        	
                7.4

              	
                After
                  loading the ready Equipment, responsibility for its preservation,
                  including transport damage, shall devolve to the
                  Buyer.

              

      

      

      
        	
                7.5

              	
                Differences
                  of opinion between the parties shall be resolved by negotiation.
                  In the
                  absence of agreement the dispute shall be resolved by the state
                  court with
                  jurisdiction over the respondent’s
                  location.

              

      

      

      
        	
                7.6

              	
                This
                  Contract is made in two copies, one for each side, with equal legal
                  validity.

              

      

      

      
        	
                7.7

              	
                Upon
                  the written order of the Buyer, the Seller undertakes to make and
                  deliver,
                  whereas the Buyer undertakes to pay for and accept, a second seam
                  machine
                  for the forming of bottoms and necks of cylinders of diameter 356-406
                  pursuant to this Contract. To avoid any doubt, the Buyer has a
                  right not
                  to order the production of the second seam
                  machine.

              

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      
        
          8.  VALIDITY
            OF THE CONTRACT

        

      

      

      
        	
                8.1

              	
                This
                  Contract shall enter into effect from the date of its signing till
                  December 31, 2008. 

              

      

      

      
        	
                8.2

              	
                The
                  effect of this Contract shall be extended automatically to December
                  31,
                  2009 if neither party serves notice of its desire to terminate
                  it 30 days
                  prior to expiry.

              

      

       

      
        
          9.  LEGAL
            ADDRESSES OF THE PARTIES

           

        

      

      
        	
                The Seller 

                OOO PZTO 

                51413 Dneproipetrovsk Region 

                Pavlograd, Promyshlennaya, 1

                Telephones (05632) 3-01-10, 3-93-46 

                Tel./fax (05632) 3-03-47, 3-10-47 

                info@rambler.ru

                Account: 26007060037954 Dnepropetr. KB Privatbank,
                  Pavlograd

                
                  MFO
                    305727 

                  code
                    OKPO 33019165

                  Cert.
                    No. 03477195

                  INN
                    330191604105

                

              	
                The Buyer

                OOO Uksil

                89200 Zakarpatskaya obl. g. Perechin

                ul. Chervonoarmeiskaya 33

                Tel. (03145) 2 30 46

                steatit@perechin.uz.ua

                Account MFO 312378

                OKPO code 34570661

                Cert.
                  No. 100020415

                INN No. 34507706607103

              
	 	 
	 	 
	 	 

      

      

        
          	
                  Payor
                    or profit tax in accordance with the rate
                    established in art. 10 (10.1) of the Ukrainian
                    Law of 28.12.94, No. 334/94-VP On
                    the Taxation on Profit of Enterprises, with
                    subsequent amendments 

                	
                   

                	
                  Payor
                    or profit tax in accordance with the rate
                    established in art. 10 (10.1) of the Ukrainian
                    Law of 28.12.94, No. 334/94-VP On
                    the Taxation on Profit of Enterprises, with
                    subsequent amendmentsEXHIBIT
      10.1 -- AMENDMENT TO DISTRIBUTION AGREEMENT

     

    [LUMINETX
      LETTERHEAD]

    May
      1,
      2007

    

    James
      Wylie

    President
      and Chief Executive Officer

    Diomed,
      Inc. 

    One
      Dundee Park

    Andover,
      MA 01810

    

    Re:     Accommodation
      for Distribution Agreement between Luminetx Corporation (“Luminetx”) and Diomed,
      Inc. (“Diomed”)

    

    Dear
      Jim,

    

    Per
      our
      discussion last week, and agreement on the term sheet attached [sic - none
      in
      original], I am pleased to send you this addendum to
      the
      Distribution Agreement that we entered into in August of 2005, as modified
      on
      February 9, 2006 and August 4, 2006 (collectively the “Agreement”).

    

    1. Paragraph
      1 of the Agreement is amended and restated in its entirety to read as follows:
      

    

    1. Background.
      You
      have
      developed a biomedical imaging system known as the VeinViewer Imaging System
      (the “System”). We are interested in obtaining exclusive rights to distribute
      the System directly and through leasing companies to physicians for the purpose
      of performing sclerotherapy, phlebectomies of the treatment of varicose
      veins (the
      “Market”), and you desire to appoint us as your exclusive distributor of the
      System to the Market. Both
      parties may sell Systems to any practicing dermatologist location not performing
      EVLT.
      The
      territory within which we may exercise our distribution rights (the “Territory”)
      shall initially consist of the United States, including all commonwealths,
      territories, possessions and military bases, and the United Kingdom, and may
      be
      expanded upon mutual agreement to include other international markets as the
      product becomes more widely available. We agree that we will not attempt to
      sell
      the system in the U.K. during 2006 without your prior approval, to allow time
      to
      obtain the necessary regulatory clearances for that portion of the Territory,
      however, if we decide to bear such costs and responsibilities to allow us to
      sell the System in the U.K. sooner, we may do so. Immediately
      upon Luminetx’s receipt of the CE mark, Luminetx will authorize Diomed’s product
      launch of the Systems into the UK.

    

    2. Paragraph
      8(a) of the Agreement is amended and restated in its entirety to read as
      follows: 

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    8. Pricing,
      Shipping and Payment.
      

    

    (a) From
      May
      1, 2007 until April 30, 2008, the purchase price for the Systems will be
      $[***CONFIDENTIAL
      TREATMENT REQUESTED***]
      per
      System; provided however, you may increase the purchase price for the Systems
      by
      the percentage increase in your actual direct per unit production costs for
      the
      Systems, as evidenced by your costed bill of materials since the Initial
      Delivery Date. You confirm that as of the date of this amendment, that the
      percentage increase in your current costed bill of materials would not create
      any increase in Diomed’s purchase price above $[***CONFIDENTIAL
      TREATMENT REQUESTED***].
      We
      shall have the right, at our expense, during normal business hours and upon
      reasonable notice, to review your books and records regarding System sales
      as
      required to allow us to verify the calculation of System pricing; provided,
      however, that we may not exercise this right more than once in any 12 month
      period. You and we agree that we will determine the prices at which we sell
      Systems to end users. 

    

    3. Paragraph
      10 of the Agreement is amended and restated in its entirety to read as follows:
      

    

    10. Purchase
      Quantities.
      

    

    (a) From
      May
      1, 2007 to May 31, 2007, Diomed will submit firm purchase orders for
[***CONFIDENTIAL
      TREATMENT REQUESTED***] Systems
      for June delivery. From May 1, 2007 until December 31, 2007, Diomed will use
      its
      best efforts to purchase [***CONFIDENTIAL
      TREATMENT REQUESTED***]
      Systems1 
      (the
“2007 Target Level”). In the event Diomed does not purchase the 2007 Target
      Level for any reason, then, upon Luminetx’s delivery to Diomed of written notice
      of such failure, Diomed’s rights as a distributor under the Agreement shall
      immediately become non-exclusive in nature and thereafter Luminetx will have
      the
      right to distribute and sell, and grant to third parties the right to distribute
      and sell, the System within the Market in the Territory. From January 1, 2008
      until April 30, 2008, Diomed will use its best efforts to purchase [***CONFIDENTIAL
      TREATMENT REQUESTED***]
      Systems
      (the “2008 Target Level”). In the event Diomed does not purchase [***CONFIDENTIAL
      TREATMENT REQUESTED***]
      Systems
      for any reason by April 30, 2008, including the [***CONFIDENTIAL
      TREATMENT REQUESTED***]
      Systems
      to be purchased from May 1, 2007 until December 31, 2007, then, Luminetx may
      immediately terminate the Agreement and this amendment by written notice to
      Diomed of such failure. In
      the
      event that this Agreement continues in effect after April 30, 2008, the target
      number of Systems we are to purchase in each subsequent 12-month period
      beginning May 1 (an “Agreement Year”) shall be determined by good faith
      agreement between you and us at least one hundred twenty (120) days before
      the
      beginning of such Agreement Year, and will be in the range of 50% to 100%
      greater than the target number for the preceding Agreement Year, unless you
      and
      we agree otherwise. 

     

     

    
      

        

        
          1
            For the
            sake of clarity, under the terms of this amendment, from May 1, 2007
            to December
            31, 2007, Diomed will be required to purchase an aggregate minimum of
            [***CONFIDENTIAL
            TREATMENT REQUESTED***] Systems
            in order to maintain its exclusivity.

        

      

    

    
 

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (b) In
      addition, if we fail to purchase at least 50% of the annual target number of
      Systems in any Agreement Year for any reason, then you may terminate this
      Agreement by written notice to us of such failure.

    

    (c) If
      during
      any period we purchase more than the target number of Systems that we are to
      purchase for such period, such excess number of Systems will be applied to
      reduce the target purchase quantity for the subsequent period or
      periods.

    

    4. In
      the
      event Diomed fails to purchase the required number of Systems as provided
      herein, the right of Luminetx to terminate exclusivity and/or terminate the
      Agreement shall be the sole remedy of Luminetx for such failure to purchase
      Systems.

    

    5. [***CONFIDENTIAL
      TREATMENT REQUESTED***]

    

    Except
      as
      expressly modified and amended by this letter, the parties agree that the
      Agreement shall continue in full force and effect. The parties agree that
      capitalized terms used herein shall have the same meaning designated by the
      Agreement unless otherwise expressly provided herein. This letter shall be
      governed by Tennessee law without regard to its conflict of law principles
      and
      in the event of any litigation arising under this letter, the parties agree
      and
      consent that the forum for such litigation shall be a court of competent
      jurisdiction located in Memphis, Shelby County, Tennessee. 

    

    Jim,
      I
      believe these conditions meet both your goals and ours. We want to continue
      to
      work closely with you and your team, and please do not hesitate to contact
      me
      with any questions. If you agree with this proposal, please execute in the
      space
      below and return a copy to David Zaleski.

    

    Regards,

    

    

    /s/
      James M. Phillips

    James
      M.
      Phillips

    

    

    Agreed
      to
      and accepted this 11th
      day of
      May, 2007

    

    

    /s/
      David B. Swank

    David
      B.
      Swank

    Chief
      Financial Officer

    Diomed
      Holdings, Inc.

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