Document:

Exhibit 10.73

EXHIBIT 10.73

CONSULTANT AGREEMENT

WITH

HEINROCKET INC.

8850 TIPSICO LAKE ROAD

HOLLY, MICHIGAN 48442

This Agreement is made and entered into as of this 13th day of December, 2010 between, Heinrocket
Inc., (the “Consultant”), whose address is 8850 Tipsico Lake Road, Holly, Michigan 48442 and
Torvec, Inc., (the “Company”), whose address is 1999 Mount Read Blvd., Building 3, Rochester, New
York 14615.

In consideration of the mutual promises made herein, the parties hereto agree as follows:

I. SERVICES; NON-EXCLUSIVITY

The Company hereby engages the Consultant on a non-exclusive basis for the term specified in
Section II hereof to render consulting services to the Company as a business relationship
specialist and technical expert relating to corporate and similar matters upon the terms and
conditions set forth herein.

II. TERM

Except as otherwise specified herein, this Agreement shall be effective for three (3) years
beginning on December 13,2010 and ending on December 13, 2013 and is cancelable by either party at
any time upon thirty (30) days written notice provided by one party to the other party. This
Agreement shall be extend automatically and without any action of either party for an additional
three (3) years unless either party shall notify the other in writing of its intent not to extend
this Agreement sixty (60) days immediately preceding December 13, 2013.

III. DUTIES, RESPONSIBILITIES, AND PAYMENT OF THE CONSULTANT

1. During the term of this Agreement, the Consultant shall provide the Company with such regular
and customary consulting services with respect to the commercialization of the Company’s automotive
technologies as the Company may request from time to time that are within the Consultant’s
expertise to deliver. It is understood and acknowledged by the parties that the Consultant shall be
obligated to render advice upon only the request of the Company, in good faith and on a best
efforts basis, but shall not be obligated to spend any specific amount of time in so doing. The
Consultant’s duties may include, but will not necessarily be limited to, providing recommendations
to the Company concerning the following matters:

To the extent requested by the Company, the Consultant will render advice and assistance to
the Company with respect to all of the Company’s automotive technologies, including its IsoTorque®
differential technology, generally in connection with all its business strategies, including
potential business combinations and/or licensing arrangements involving the Company and one or more
original equipment manufacturers (“OEMS”) or first-tier suppliers, as the case may be.

 

 

 

2. During the term of this Agreement, in consideration for the services to be rendered by the
Consultant, the Company will pay the Consultant a consulting fee calculated at the rate of $200 per
hour. Such payment shall be made to the Consultant based upon invoices submitted by the Consultant
to the Company within thirty (30) days of the rendering of each such invoice.

3. During the term of this Agreement, Consultant shall not perform and shall not be paid for any
services pursuant to this Agreement unless he shall have been specifically requested by the Company
to provide the services so enumerated by the Company.

IV. COMMERCIALIZING EVENT INCENTIVE FEE

At any time after the date of this Agreement and from time to time provided that the Consultant is
in good standing as determined by the Company’s Board of Directors, if the Company shall enter
into one or more final, definitive agreements that actually generates revenue to the Company as the
result of the commercialization of any and/or all of the Company’s automotive technologies, and any
such definitive agreement shall have been, in whole or in part, attributable to Consultant’s
material efforts, then the Company shall pay the Consultant an incentive fee equal to $10,000 or
proportionate part thereof for each $1,000,000 of revenue or proportionate part thereof actually
paid to and received by the Company pursuant to such final, definitive agreement for a period of
five(5) years after the first delivery of products pursuant to such definitive agreement.

For purposes of this Article, the term “revenue” shall mean the gross receipts generated by the
commercializing event and actually paid to
and received by the Company.

For purposes of this Article, the term “final, definitive agreement” shall mean any final
agreement by virtue of which the Company actually is paid revenue for the commercialization of any
or all of its automotive technologies, including but not limited to a finalized licensing
arrangement, joint venture arrangement, business combination or similar transaction involving the
revenue-generating transfer of commercializing rights to the Company’s automotive technologies.

For purposes of this Article, the term “attributable to Consultant’s efforts” shall mean that
Consultant shall have contributed importantly (as opposed to incidentally) to causing the
occurrence of the particular commercializing event for which an incentive fee as described herein
is to be paid.

V. CONFIDENTIALITY

The Consultant acknowledges that he has separately executed a Confidentiality Agreement with the
Company and hereby agrees that all of the terms of such Confidentiality Agreement are hereby
incorporated by reference into this Agreement as if specifically set forth herein.

VI. INDEPENDENT CONTRACTOR AND TERMINATION FOR CAUSE

The Consultant shall perform its services hereunder as an independent contractor and not as an
employee or agent of the Company or an affiliate thereof. It is understood and agreed to by the
parties hereto that the Consultant shall have no authority to act for, represent or bind the
Company or any affiliate thereof in any manner, except as may be agreed to expressly by the Company
in writing from time to time. Each party shall be solely responsible for compliance with all state
and federal laws pertaining to employment taxes, income withholding at the source, unemployment
compensation contributions and other employment related statutes with respect to the consulting
arrangement as set forth in this Agreement.

 

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Notwithstanding the agreement of the parties to this Agreement’s term as set forth in Article II,
this Agreement may be terminated immediately by the Company for any of the following reasons and
upon such termination for any one or more of the reasons set forth below, Consultant shall
not be entitled to any further payment of fees regardless of whether Consultant prior to such
termination had furnished the Company with an invoice for services rendered which, as of the date
of termination under this Article VI, remains unpaid:

a) The Consultant discloses confidential information to the detriment of the Company and/or its
business in violation of the Confidentiality Agreement executed by the Consultant and the Company;

b) The Company is directed by a regulatory or governmental authority to terminate the Agreement or
the Consultant engages in activities that cause actions to be taken by regulatory or governmental
authorities that have a material adverse effect on the Company;

c) The Consultant is convicted of or pleads nolo contendre to any felony (other than a felony
resulting from a traffic violation);

d) The Consultant breaches his duties under this Agreement in any material respect, and that breach
is not cured within thirty days of written notice thereof from the Company to the Consultant. Such
notice will only be required for the first said breach;

e) The Consultant engages in any malfeasance or misconduct or performs services in a grossly
negligent manner, any of which has a material adverse effect on the Company, including such effect
on the Company’s reputation and credibility in the marketplace with respect to its technology, its
business ethics and behavior, its compliance with all rules and regulations promulgated by any
lawful governmental authority, whether foreign or domestic, as well as with respect to its
relationship with its shareholders; or

f) The Consultant commits an act of fraud against the Company.

Nothing in this Article VI shall be interpreted to mean that Consultant shall not be entitled to
receive payment for unpaid invoices in the event of the termination of this Agreement in accordance
with the termination provisions of Article II hereof.

VII. ENTIRE AGREEMENT

This Agreement constitutes the entire Agreement and understanding of the parties hereto, and
supersedes any and all previous agreements and understandings, whether oral or written, between the
parties with respect to the matters set forth herein.

VIII. NOTICES

All notices, requests, demands and other communications required or permitted to be given hereunder
shall be in writing and shall be deemed to have been duly given when personally delivered, sent by
registered or certified mail, return receipt requested, postage prepaid, or by overnight mail
service (e.g. Federal Express) to the party at the address set forth below or to such other address
as either party may hereafter give notice of in accordance with the provisions hereof:

if to the Company, to the address as follows:

Richard A. Kaplan

Chief Executive Officer

1999 Mount Read Blvd., Building 3

 

3

 

Rochester, New York 14615

	 	 	 
	Telephone:

	 	585-254—1100
	Facsimile:

	 	585-254—1105

and, if to the Consultant, to the address as follows:

Telephone:

Facsimile:

IX. ENTIRE AGREEMENT

This Agreement shall be binding upon and inure to the benefit of each of the parties hereto and
their respective successors, legal representatives and assigns.

X. COUNTERPARTS

This Agreement may be executed in any number of counterparts, each of which together shall
constitute on one and the same original documents.

XI. AMENDMENT, MODIFICATION OR WAIVER

No provision of this Agreement may be amended, modified or waived, except in a writing signed by
all of the parties hereto.

XII. TRANSFER, SUCCESSORS AND ASSIGNS

The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the
respective successors and assigns of the parties. Nothing in this Agreement, express or implied, is
intended to confer upon any party other than the parties hereto or their respective successors and
assigns any rights, remedies, obligations, or liabilities under or by reason of this Agreement,
except as expressly provided in this Agreement.

XIII. GOVERNING LAW

This Agreement and all acts and transactions pursuant hereto and the rights and obligations of the
parties hereto shall be governed, construed and interpreted in accordance with the laws of the
State of New York, without giving effect to principles of conflicts of law. The parties
specifically agree that the jurisdiction and venue with respect

to any dispute in any way relating to this Agreement shall lie with the Supreme Court for the
Seventh Judicial District located in the County of Monroe, New York.

XIV. TITLES AND SUBTITLES

The titles and subtitles used in this Agreement are used for convenience only and are not to be
considered in construing or interpreting this Agreement.

XV. SEVERABILITY

If one or more provisions of this Agreement are held to be unenforceable under applicable law, the
parties agree to renegotiate such provision in good faith.

 

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In the event that the parties cannot reach a mutually agreeable and enforceable replacement for
such provision, then (a) such provision shall be excluded from this Agreement, (b) the balance of
the Agreement shall be interpreted as if such provision were so excluded and (c) the balance of the
Agreement shall be enforceable in accordance with its terms.

XVI. DELAYS OR OMISSIONS

No delay or omission to exercise any right, power or remedy accruing to any party under this
Agreement, upon any breach or default of any other party under this Agreement, shall impair any
such right, power or remedy of such non-breaching or non-defaulting party nor shall it be construed
to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar
breach or default thereafter occurring; nor shall any waiver of any single breach or default be
deemed a waiver of any other breach or default theretofore or thereafter occurring. Any waiver,
permit, consent or approval of any kind or character on the part of any party of any breach or
default under this Agreement, or any waiver on the part of any party of any provisions or
conditions of this Agreement, must be in writing and shall be effective only to the extent
specifically set forth in such writing. All remedies, either under this Agreement or by law or
otherwise afforded to any party, shall be cumulative and not alternative.

Executed as of the date above first written.

	 	 	 	 	 
	 	Heinrocket Inc

 	 
	 	By:  	/s/ John Heinricy
 	 
	 	 	John Heinricy 	 

Accepted and Agreed:

	 	 	 	 	 
	 	TORVEC, INC.

 	 
	 	By:  	/s/ Richard A. Kaplan
 	 
	 	 	Richard A. Kaplan 	 
	 	 	Chief Executive Officer 	 

 

5exv4w1

Exhibit 4.1

FOURTH AMENDMENT TO RIGHTS AGREEMENT

     This FOURTH AMENDMENT TO RIGHTS AGREEMENT (this “Amendment”) is entered into as of
March 28, 2011 by and between Cardiogenesis Corporation, a California corporation formerly known as
Eclipse Surgical Technologies, Inc. (the “Company”), and Computershare Trust Company, N.A.,
a national banking association formerly known as Equiserve Trust Company N.A.(the “Rights
Agent”).

RECITALS

A. The Company and the Rights Agent are parties to that certain Rights Agreement, dated August 17,
2001 and amended as of January 16, 2002, January 21, 2004 and October 26, 2004 (the “Rights
Agreement”);

B. Pursuant to Section 27 of the Rights Agreement, prior to the occurrence of a Section 11(a)(ii)
Event, the Company and the Rights Agent shall, if the Board of Directors of the Company so directs,
supplement or amend any provision of the Rights Agreement without the approval of any holders of
certificates representing shares of Common Stock of the Company; and

C. The Company now desires to amend the Rights Agreement as set forth in this Amendment, and
pursuant to Section 27 of the Rights Agreement, the Board of Directors of the Company hereby
directs that the Rights Agreement should be amended as set forth in this Amendment.

AGREEMENT

Effective as of the date hereof, the Company and the Rights Agent agree as follows:

	 	1.	 	Amendments to Rights Agreement.

	 	a.	 	The definition of “Acquiring Person” is amended and restated to
read as follows:
	 
	 	 	 	“Acquiring Person” shall mean any Person that Beneficially Owns 15% or more of the
Voting Shares of the Company then outstanding; provided, however, that the term
“Acquiring Person” shall not include: (i) an Exempt Person; (ii) any Person that
would not otherwise be an Acquiring Person but for a reduction in the number of
outstanding Voting Shares resulting from a stock repurchase program or other similar
plan of the Company or from a self tender offer of the Company, which plan or tender
offer commenced on or after the date hereof; provided, however, that the term
“Acquiring Person” shall include such Person from and after the first date upon
which (A) such Person, since the date of the commencement of such plan or tender
offer, shall have acquired Beneficial Ownership of, in the aggregate, a number of
Voting Shares of the Company equal to 1% or more of the Voting Shares of the Company
then outstanding and (B) such Person, together with all Affiliates and Associates of
such Person, shall Beneficially Own 15% or more of the Voting Shares of the Company
then

 

 

	 	 	 	outstanding; (iii) any Person that would not otherwise be an Acquiring Person but
for its Beneficial Ownership of Rights; (iv) any Person that is the Beneficial Owner
of 15% or more of the outstanding Voting Shares of the Company as of August 17, 2001
and thereafter has continued to be the Beneficial Owner of at least 15% of the
Voting Shares of the Company then outstanding; provided, however, that the term
Acquiring Person shall include such Person from and after the first date upon which
(A) such Person, since August 17, 2001, shall have acquired, without the prior
approval of the Board of Directors of the Company, Beneficial Ownership of
additional Voting Shares equal to 1% of the then outstanding Voting Shares of the
Company and (B) such Person, together with all Affiliates and Associates of such
Person, shall Beneficially Own more than 15% or more of the Voting Shares of the
Company then outstanding; (v) any Person that is the Beneficial Owner of 15% or more
of the outstanding Voting Shares of the Company solely as the result of the
operation of clause (iv) of the definition of “Beneficial Owner” and “Beneficially
Own” if and during such period as the Board of Directors shall have determined that
the operation of such clause should be waived in the best interests of the Company
and its shareholders; provided, however, that any determination pursuant to this
clause (v) shall have been made prior to any change in the composition of the Board
of Directors following the date that such Person shall have become the Beneficial
Owner of such Voting Shares if such change in composition involved the election of
two or more new members of the Board of Directors; (vi) any Person whom the Board of
Directors shall approve or ratify; or (vii) CryoLife Inc, a Florida corporation
(“CryoLife”) nor CL Falcon, Inc., a Florida corporation (“Merger
Sub”) solely by reason of the: (1) execution and entry into that certain Merger
Agreement, to be entered into by and among the Company, CryoLife and Merger Sub (the
“Merger Agreement”), (2) the consummation of any of the transactions
contemplated by the Merger Agreement, (3) the acquisition by Parent, Merger Sub or
any of their respective Affiliates or Associates, either individually, collectively
or in any combination, of Voting Shares pursuant to the transactions contemplated by
Merger Agreement, (4) the execution and entry into that certain Support Agreement,
to be entered into by and among the CryoLife, Merger Sub and certain shareholders of
the Company (the “Support Agreement”), (5) the public announcement of any of
the foregoing, or (6) any combination of the foregoing (such actions described in
this sentence, the “Permitted Events”). In calculating the percentage of the
outstanding Voting Shares that are Beneficially Owned by a Person for purposes of
this definition, Voting Shares that are Beneficially Owned by such Person shall be
deemed outstanding, and Voting Shares that are not Beneficially Owned by such Person
and that are subject to issuance upon the exercise or conversion of outstanding
conversion rights, exchange rights, rights, warrants or options shall not be deemed
outstanding. Any determination made by the Board of Directors of the Company as to
whether any Person is or is not an Acquiring Person shall be conclusive and binding
upon all holders of Rights.”
	 
	 	b.	 	The definition of “Acquisition Date” is amended to add the
following sentence at the end thereof:

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	 	 	 	“Notwithstanding anything in this Agreement to the contrary, an Acquisition Date
shall not be deemed to have occurred solely by virtue of, or as a result of, any
Permitted Event.”
	 
	 	c.	 	The definition of “Beneficial Owner” in is amended by inserting
the following paragraph at the end thereof:
	 
	 	 	 	“Notwithstanding anything in this Agreement to the contrary, none of Parent, Merger
Sub or any of their respective Affiliates or Associates, either individually,
collectively or in any combination, shall be deemed a Beneficial Owner of, or to
beneficially own, any securities solely by virtue of, or as a result of, any
Permitted Event.”
	 
	 	d.	 	Section 3(a) of the Agreement is amended to add the following sentence
at the end thereof:
	 
	 	 	 	“Notwithstanding anything in this Agreement to the contrary, a Distribution Date
shall not be deemed to have occurred and nothing in this Agreement shall be
construed to give any holder of Rights or any other Person any legal or equitable
rights, remedies or claims under this Agreement solely by virtue of, or as a result
of, any Permitted Event.”
	 
	 	e.	 	Section 11(a)(ii) of the Agreement is amended to add the following
sentence at the end thereof:
	 
	 	 	 	“Notwithstanding the foregoing or anything in this Agreement to the contrary, a
Section 11(a)(ii) Event shall not be deemed to have occurred solely by virtue of, or
as a result of, any Permitted Event, and the provisions of this Section 11(a)(ii)
and rights hereunder shall not be deemed to be triggered solely by virtue of, or as
a result of, any Permitted Event.”
	 
	 	f.	 	Section 13(a) of the Agreement is amended to add the following sentence
at the end thereof:
	 
	 	 	 	“Notwithstanding the foregoing or anything in this Agreement to the contrary, a
Section 13 Event shall not be deemed to have occurred solely by virtue of, or as a
result of, any Permitted Event, and the provisions of this Section 13(a) and rights
hereunder shall not be deemed to be triggered solely by virtue of, or as a result
of, any Permitted Event.

	 	2.	 	Effectiveness. This Amendment shall be deemed effective as of the date first
above written, as if executed on such date. Except as expressly set forth herein, this
Amendment shall not by implication or otherwise alter, modify, amend or in any way affect
any of the terms, conditions, obligations, covenants or agreements contained in the Rights
Agreement, all of which are ratified and affirmed in all respects and shall continue in
full force and effect and shall be otherwise unaffected.

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	 	3.	 	Governing Law. This Amendment shall be deemed to be a contract made under the
laws of the State of California and for all purposes shall be governed by and construed in
accordance with the laws of such state applicable to contracts to be made and performed
entirely within such state.
	 
	 	4.	 	Counterparts. This Amendment may be executed in any number of counterparts,
which shall for all purposes be deemed an original, and all such counterparts together
shall constitute but one and the same instrument.

[Signature Page Follows]

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     IN WITNESS HEREOF, the parties hereto have caused this Fourth Amendment to Rights Agreement to
be duly executed as of the day and year first written above.

	 	 	 	 	 
	 	COMPUTERSHARE TRUST 

COMPANY, N.A., as Rights Agent

 	 
	 	By:  	/s/ Dennis V. Moccia
 	 
	 	 	Name:  	Dennis V. Moccia 	 
	 	 	Title:  	Manager, Contract Administration 	 
	 
	 	CARDIOGENESIS CORPORATION

 	 
	 	By:  	/s/ William Abbott
 	 
	 	 	Name:  	William Abbott 	 
	 	 	Title:  	Senior Vice President and Chief
Financial Officer

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