Document:

Exhibit
10.14

DESCRIPTION OF COMPENSATION
ARRANGEMENTS FOR NON-EMPLOYEE DIRECTORS

For
the period April 2006 through March 2007, directors who are not employees of
State Street or the Bank received the following compensation:

·                                       Annual retainer—$65,000, payable at their election
in shares of the Registrant’s common stock or in cash;

·                                       Meeting fees—$1,500 for each Board and
committee meeting attended, payable in cash;

·                                       A deferred stock award in an amount equal to
$105,000 divided by the closing price of the stock on April 18, 2006
(together with additional stock amounts to reflect dividend and distribution
amounts paid during deferral);

·                                       An additional annual retainer for the Lead
Director of $25,000, payable in cash;

·                                       An additional annual retainer for the
Examining and Audit Committee Chair of $20,000, payable in cash;

·                                       An additional annual retainer for each other
Committee Chair of $10,000, payable in cash;

·                                       An additional annual retainer for each member
of the Examining and Audit Committee, other than the Chair, of $5,000, payable
in cash; and

·                                       A pro-rated annual retainer and deferred stock
award for any director who was elected to the Board after the 2006 Annual
Meeting.

For
this period, three outside directors elected to receive their annual retainers
in cash, and all other outside directors elected to receive their annual
retainers in shares of common stock.  The
directors could elect to defer either 50% or 100% of fees and compensation
payable during any calendar year pursuant to the Registrant’s Deferred
Compensation Plan for Directors (the “Directors’ Plan”), until after the
director leaves the Board or attains a specified age. Under the Directors’
Plan, deferred cash amounts accrue interest during deferral at a rate equal to
the effective yield on 360-day Treasury bills, and deferred stock amounts are
adjusted to reflect dividend and distribution amounts paid during deferral.
Four directors elected to defer compensation under the Directors’ Plan.Exhibit
10.1

DISTRIBUTION
AGREEMENT

between

(1)                                  INVATEC TECHNOLOGY CENTER GMBH
(hereinafter referred to as Invatec) having a registered office at Hungerbuelstrasse
12a, 8500 Frauenfeld, Switzerland, represented by its General Manager, Silvio
Schaffner,

and

(2)                                  ev3 Endovascular, Inc. (hereinafter
referred to as ev3) having its registered
office at 9600 54th Avenue North, Plymouth Minnesota 55442,
represented by its President and Chief Executive Officer, Mr. James M. Corbett,

(INVATEC
and ev3 are hereinafter also referred to as the Parties)

WITNESSETH

WHEREAS, INVATEC
operates in the business of designing, developing, manufacturing and selling
under the trademark and/or trade name “INVATEC” the Products
(as hereinafter defined);

WHEREAS, ev3 is willing to act as INVATEC’s non-exclusive distributor in
the Territory (as hereinafter defined)
as to the PRODUCTS, upon the terms
and conditions set forth in this AGREEMENT;

NOW, THEREFORE, the PARTIES
hereto agree as follows:

1.                                      DEFINITIONS.

As used in this AGREEMENT
the following words will have the meaning defined hereunder (plural shall
include singular and vice versa):

1.1                                 Agreement shall mean this
Distribution Agreement dated 15 February 2007;

1.2                                 Affiliate means any entity that,
directly or indirectly, now or hereafter controls or is controlled by or is
under common control of a Party hereto, except that in countries where
ownership of a majority or controlling interest by a foreign entity is not
permitted by law, rule or regulations, the parent’s direct or indirect voting
interest may be less than a majority or controlling interest. (Control - including
the terms “controls”, “controlled by”, “controlling” and “under common control
with” - are understood as meaning the possession, direct or indirect, of the
power to direct or cause the direction of the management and policies of a
person or entity whether through the ownership of voting security, by contract
or otherwise, except in the case of ev3, Warburg Pincus, L.P. and its
Affiliates shall not be considered Affiliates under this Agreement);

1.3                                 Clinical Test shall mean: any
clinical trial, test and/or whatsoever analysis which is required by the LAWS: (i) for obtaining from FDA IDE
approval for Mo.Ma as commenced under the PRIOR
AGREEMENT, (ii) for responding to FDA’s letter dated November 15, 2006
regarding the 510(k) submission for CHROMIS Deep and responding to the FDA
regarding the 510(k) submission for SKIPPER Deep (the 

 1
 

“510(k) Responses”), and/or (iii) for continuing valid
registration of the PRODUCTS in the
TERRITORY;

1.4                                 Effective Date shall mean: the date
of signature of the AGREEMENT by
the latter PARTY hereto;

1.5                                 FDA shall mean: the United States
Food and Drug Administration;

1.6                                 Force Majeure shall have the meaning set forth
by Article 15;

1.7                                 Gross
Margin shall mean: the difference between the aggregate amount
paid by ev3 to INVATEC for
purchasing the PRODUCTS and the
manufacturing and other costs incurred into by INVATEC
for the PRODUCTS sold to ev3,
during any contractual year.

1.8                                 Information shall mean: any data
relating to the PRODUCTS, Mo.Ma,
CHROMIS Deep, and SKIPPER Deep (including without limitation all data relating
to clinical or pre-clinical studies or related to the regulatory approval
process);

1.9                                 Initial Rolling Forecast
shall have the meaning set forth in Article 12.2;

1.10                           Laws shall mean all the laws, regulations,
ordinances and similar legally enforceable requirements applicable in the TERRITORY;

1.11                           Losses shall have the meaning set forth by
Article 9.2;

1.12                           Minimum Annual Volume of Purchases
shall mean the minimum volume of orders of PRODUCTS
that ev3 must place for delivery during each of calendar year 2007 and 2008.
For calendar year 2007 such amount shall be [***] units and for the calendar
year 2008 such amount shall be [***] units;

1.13                           Mo.Ma. shall mean the Mo.Ma Cerebral
Protection System manufactured by INVATEC
at the EFFECTIVE DATE of
this AGREEMENT.

1.14                           Parties shall mean INVATEC and ev3;

1.15                           Price-List shall have the meaning
set forth by Article 3.2;

1.16                           Prior Agreement shall mean the
distribution agreement dated 24 June 2004, and as amended by the first
amendment to the distribution agreement executed on 10 February 2005 and made
effective from 31 December 2004, which was terminated in accordance with the
Termination Agreement;

1.17                           Products shall mean the versions of
those products set out in Exhibit 1 and currently for sale in the TERRITORY. For the avoidance of doubt, INVATEC shall not discontinue any of the
PRODUCTS during the TERM of this AGREEMENT, except where a recall or discontinuance of a PRODUCT is reasonably deemed necessary
by INVATEC due to safety or other
regulatory reasons; in the event of such discontinuance of any PRODUCT, the MINIMUM ANNUAL VOLUME OF PURCHASESshall be reduced pro-rata as 

[***]Confidential
treatment has been requested for the bracketed portions.  The confidential redacted portion has been
omitted and filed separately with the Securities and Exchange Commission.

 2
 

determined by multiplying the MINIMUM ANNUAL VOLUME OF PURCHASES for any future calendar
period by a fraction, the numerator of which is the number of units of the
discontinued PRODUCT ordered by
ev3 in the prior six (6) month period and the denominator of which shall be the
overall volume of all PRODUCTS
ordered by ev3 during such period.  For
the current calendar year in which a PRODUCT
is discontinued, the MINIMUM ANNUAL
VOLUME OF PURCHASES shall be reduced by an amount equal to the product
of (a) the fraction described in the preceding sentence, and (b) a fraction,
the denominator of which is the number of days remaining in the calendar year
and the denominator of which is 365 and (c) the MINIMUM
ANNUAL VOLUME OF PURCHASES for such calendar year immediately prior to
such calculation;

1.18                           Relevant Aggregate Volume
shall have the meaning set forth in Article 17.1;

1.19                           Rolling Forecast shall have the
meaning set forth by Article 12.2;

1.20                           Sign Up Fee shall have the meaning
set forth by Article 3.1;

1.21                           Specifications shall have the
meaning set forth by Article 8.1;

1.22                           Swiss Business Day
shall mean a day (other than a Saturday or a Sunday) on which banks are open
for business in Switzerland;

1.23                           Term shall mean the time period
commencing on the EFFECTIVE DATE
and expiring on the date of expiration or termination as provided for in the AGREEMENT;

1.24                           Termination Agreement shall mean the
agreement between the Parties dated 15 February 2007 pursuant to which the PRIOR AGREEMENT was terminated;

1.25                           Territory shall mean: the territory
of the United States of America and Puerto Rico;

1.26                           Trademarks shall mean: all INVATEC’s proprietary TRADEMARKS with regard to INVATEC itself and/or the PRODUCTS;

1.27                           Unit Price means the
price for one PRODUCT.

2.                                      APPOINTMENT
OF ev3 AND GENERAL
UNDERTAKINGS OF ev3.

2.1                                 INVATEC hereby appoints ev3 and ev3
hereby accepts appointment as its distributor of the PRODUCTS in the TERRITORY.  ev3 acknowledges (i) that, subject to Article
7.2, it has not been promised (and this AGREEMENT
does not grant) an exclusive market by INVATEC
(either with respect to INVATEC
selling directly to customers or to other distributors) and (ii) that ev3 is
not an agent or representative of INVATEC
but is an independent entity performing a distribution function in the
marketplace.

2.2                                 ev3
undertakes the following obligations vis-à-vis INVATEC:

(a)                                  ev3
will actively promote, distribute and sell the PRODUCTS
in the TERRITORY to the best of
its capability and exercising at least the same level of diligence and efforts
it exercises for the marketing and distribution of its own products and in
accordance with and subject to the terms of this AGREEMENT.

 3
 

(b)                                 Subject
to its rights upon effective termination of this AGREEMENT pursuant to Article 14.3, ev3 shall not, either
directly or indirectly, and shall cause its AFFILIATES
not to, (nor assist any third party in) during the TERM of this AGREEMENT,
either directly or indirectly, launch, market, sell, promote or distribute, in
the TERRITORY, products which are
similar in nature to or which in the reasonable judgment of INVATEC compete with the PRODUCTS; provided, however, that
nothing shall preclude ev3 from: (i) designing, developing and registering in
the TERRITORY any products that
compete with the PRODUCTS, (ii) engaging in any type of competitive
activities with regard to any products could not reasonably be
considered to be competitive with the PRODUCTS, provided that the PARTIES agree that ev3’s stent products
shall not be deemed to be competitive with the PRODUCTS, (iii) engaging in any type of competitive
activities outside of the TERRITORY;
and (iv) engaging in any type of competitive activities with regard to the
X-SIZER® Catheter System.

(c)                                  In the event that any business
entity which is a competitor of INVATEC merges with ev3 or any Affiliate
thereof or acquires a shareholding which exceeds 49% of the entire issued
voting share capital in ev3, or any competitor of INVATEC acquires a material amount of assets from ev3 or ev3
acquires a controlling shareholding in such entity or a material amount of such
entity’s assets (the “Acquiring Entity”), then the Acquiring Entity must
either: (i) continue to operate ev3 independently until the termination of this
AGREEMENT and allow any INVATECPRODUCTS to be sold or used only by ev3 and
not by the Acquiring Entity; or (ii) must cause ev3 to purchase the MINIMUM ANNUAL VOLUME OF PURCHASES.

(d)                                 ev3
shall during the continuance of this AGREEMENT
diligently and faithfully serve INVATEC
as its distributor in the TERRITORY
and shall use its best endeavours to improve the goodwill of INVATEC in the TERRITORY and to further increase the sale of the PRODUCTS in the TERRITORY;

(e)                                  ev3
will ensure that it conforms to the LAWS
in force in the TERRITORY in
relation to the PRODUCTS;

(f)                                    ev3
undertakes to store the PRODUCTS
under conditions that will prevent deterioration and also (on the instructions
of INVATEC) to store particular
products under such special conditions as may be appropriate to their
requirements. Where ev3 is responsible for clearing goods through customs and
other import formalities into the TERRITORY
it shall exercise its best endeavours to ensure that during such clearance the
goods are stored as aforesaid. ev3 agrees to allow INVATEC or its authorised representatives to inspect the PRODUCTS when in storage under the
control of ev3 from time to time upon reasonable notice;

(g)                                 ev3
undertakes not to, either directly or indirectly, copy, produce, make, modify
or manufacture or assist in any way any other party to copy, produce, make,
modify or manufacture the PRODUCTS
or any part thereof for use, sale or any other purpose.

2.3                                 ev3
shall not, and ev3 shall cause its AFFILIATES,
not to (i) solicit orders for the sale of PRODUCTS
to any existing or prospective customer outside the TERRITORY, (ii) deliver, tender or sell (or cause to be delivered,
tendered or sold) any PRODUCT 

 4
 

outside the TERRITORY,
or (iii) sell any PRODUCT to, or
solicit any sales from, a customer if ev3 knows or has reason to know that such
customer intends to resell the PRODUCTS
outside of the TERRITORY.

3.                                      PAYMENTS

3.1                                 Within
two SWISS
BUSINESS DAYS of the date of this Agreement, ev3 shall pay to INVATEC a sign up fee of USD 6.5 million
by wire transfer to an account designated by INVATEC.  In
addition, the remaining, unamortized portion of the sign up fee under the PRIOR AGREEMENT that exists as of the EFFECTIVE
DATEshall constitute additional
consideration under this Agreement (collectively, the Sign Up Fee).

3.2                                 Unless
otherwise agreed upon between the PARTIES
in writing, during the Term of this Agreement, purchases by ev3 from INVATEC and sales by INVATEC to ev3 shall be made on the
basis of the price-list (hereinafter, the Price-List)
agreed by the PARTIES per group of
PRODUCTS and attached hereto as Exhibit 2.

All prices for the purchase of the PRODUCTS
will be in Euro. It is understood that payments shall remain in Euros
throughout the term of the AGREEMENT,
unless the Euro ceases to be the primary legal tender in Europe, in which case
the payments under this AGREEMENT
will be made in the new primary European currency.

3.3                                 INVATEC agrees that for the TERM of this AGREEMENT, it will not increase the prices for the Products
from the prices set out in the Price-List.

3.4                                 The
Unit Prices are given in Euro, for delivery EX
WORKS (as defined in INCOTERMS 2000).

3.5                                 Unless
otherwise agreed upon in writing, all payments of ev3 to INVATEC shall be made within thirty (30)
days from the date of invoice. Late payments shall bear an interest calculated
at 15% per annum. In the event of a late payment, INVATEC shall notify ev3 in writing and if ev3 does not cure
such late payment within ten (10) days of such notice or provide INVATEC with a reasonable basis for
dispute of such invoice, such late payment shall entitle INVATEC to cancel orders, although
confirmed, and refuse additional orders until such time as all undisputed
payment obligations have been remitted to Invatec. The right of ev3 to retain
payment in total or in part and/or to set-off against any claims shall be
excluded.  No orders cancelled or refused
pursuant to this paragraph shall constitute a reduction in the MINIMUM ANNUAL VOLUME OF PURCHASES.

4.                                      CLINICAL
TESTS AND REGISTRATIONS.

4.1                                 Unless
otherwise instructed by INVATEC, ev3 undertakes to carry out all
actions reasonably necessary (including all CLINICAL
TESTS) to secure FDA IDE approval for Mo.Ma and to undertake the 510(k)
Responses in a complete and timely manner.

4.2                                 ev3 shall conduct the CLINICAL TESTS under the supervision of INVATEC
and shall allow reasonably requested access to INVATEC
representatives, keep Invatec reasonably informed (including but not limited to
responding to information requests from INVATEC)
and follow requests from INVATEC
in carrying out the CLINICAL TESTS.

 5
 

4.3                                 ev3
shall notify INVATEC within one
(1) day of any communication from FDA or any other competent authority, in
reasonable detail to allow INVATEC to
make relevant business decisions and to comply with any and all applicable LAWS.

4.4                                 All actual costs for CLINICAL TESTS (including the costs of operating the Mo.Ma clinical trial) and
related regulatory activities incurred following the Mo.Ma IDE approval and the
510(k) Responses will
be borne by INVATEC; ev3 shall be
responsible for all costs up to such time, provided that INVATEC has provided ev3 proper documentation for such application, and
provided further that INVATEC shall be responsible for the costs of any additional Mo.Ma testing
requested or required by FDA.  For the
purpose of obtaining the Mo.Ma IDE approval and carrying out the Clinical
Tests, INVATEC will
provide ev3 with all the INFORMATION, documentation, and assistance required by any competent authority or
otherwise needed in relation to the registration process.

4.5                                 All experimental protocols, studies
and documents that ev3 intends to submit to FDA and/or any other competent
authority shall have to be approved in writing in advance by INVATEC before submittal.

4.6                                 The PARTIES
shall keep each other informed in advance of any scheduled meetings or
discussions with FDA and/or any other competent authority in the TERRITORY that involve the safety
profile of PRODUCTS.

4.7                                 Upon
receipt of such Mo.Ma IDE approval and completion of the 510(k) Responses (or
sooner if requested by INVATEC), ev3 shall cooperate as reasonably
requested by INVATEC and in accordance with any FDA requirements to
facilitate an orderly transition of the Mo.Ma. clinical work and the 510(k)
Responses to INVATEC or
a designee of INVATEC,
including without limitation, any regulatory transfers necessary for INVATEC
or its designee to continue the clinical studies under the IDE (or if
transferred prior to approval for INVATEC or its designee to continue the
application begun by ev3) as the sponsor of the study (the Clinical Transfer).  Each party shall bear its own costs in
facilitating such Clinical Transfer.

4.8                                 As
part of the Clinical Transfer, ev3 shall transfer to INVATEC the INFORMATION in its possession with
respect the Mo.Ma., CHROMIS Deep, and SKIPPER Deep devices and the CLINICAL TESTS; following such transfer
ev3 shall have no further obligations under this Article 4.

4.9                                 Notwithstanding
any provision in any other agreement between the Parties, ev3 may retain such
clinical and regulatory data as reasonably required to perform its obligations
under this AGREEMENT.

5.                                      TRADEMARKS, LABELS AND OTHER INTELLECTUAL PROPERTY.

5.1                                 All TRADEMARKS
are the exclusive property of INVATEC.

5.2                                 During the TERM of this AGREEMENT, and subject to the terms and
conditions herein, INVATEC hereby grants to ev3 a
non-exclusive, non-sublicensable, royalty free, non transferable, licence to
use the TRADEMARKS for relevant distribution in the TERRITORY. Except as provided in Article 16.4 in order to allow ev3 to
continue selling any remaining inventory, such licence will expire
automatically, without any 

 6
 

prior written
notice from INVATEC, upon the termination or
expiration of this AGREEMENT for
any reason.

5.3                                 The TRADEMARKS
shall not be used in any manner liable to invalidate the registration thereof
and the right to use the TRADEMARKS
in connection with the appropriate products is only granted to the extent that INVATEC is able to do so without
endangering the validity of the registration.

5.4                                 ev3 undertakes not to apply the TRADEMARKS to any item which is not one
of the PRODUCTS nor to distribute
or sell any such items with the TRADEMARKS
so applied or to engage in any other practice or activity likely to mislead
potential purchasers into believing that an item is one of the PRODUCTS when in fact it is not.

5.5                                 All PRODUCTS
shall be sold under the co-brand of both INVATEC and ev3, provided that the
co-brand includes with the same prominence the logo and any detail of both the PARTIES.

5.6                                 On all PRODUCTS, containers, advertisements and technical literature for the PRODUCTS the symbol ® shall be used in conjunction with the registered TRADEMARKS or “TM” in conjunction with any Trade Mark applications and state
in the materials that such trademark is owned by INVATEC.  All
representations of the TRADEMARKS which ev3 intends to use shall
first be submitted to INVATEC for approval in writing.

5.7                                 ev3 undertakes to send INVATEC, prior to the use of any TRADEMARKS or brand names, a sample of
each letter-head, invoice, price-list, label, brochure and all other
advertising material displaying such TRADEMARKS
or trade or brand name and, except as provided in Article 11.1(c), only to use
items of such printed materials the proofs for which have received in each case
the express and specific prior approval of INVATEC.  ev3 shall provide to Invatec for approval,
within ten (10) business days after the EFFECTIVE
DATE, all such printed
materials currently being used by ev3.

5.8                                 Each party shall promptly give
notice in writing to the other in the event that it becomes aware of:

(a)                                  any infringement or suspected
infringement by any third party within the TERRITORY
of the TRADEMARKS, any patent or patent application,
or any other intellectual property rights of INVATEC
in or relating to the PRODUCTS; and

(b)                                 any claim or alleged claim that the
PRODUCTS sold by ev3 hereunder or
that the TRADEMARKS or trade names
or know-how, packaging features or leaflets used by ev3 on or in connection
with the PRODUCTS, or any patent
or patent application under which the PRODUCTS
are manufactured, used or sold, infringes any intellectual property
rights of any third party or constitutes an act of unfair competition or
parasitism, or any action commenced by a third party in which the declaration
of invalidity of any TRADEMARK
and/or any patent application under which the PRODUCTS
are manufactured, used or sold, is sought, which affect or may affect INVATEC’s and/or ev3’s interests.

5.9                                 INVATEC shall have the right, in its sole discretion, to bring, defend,
control and/or direct, in its own name, any legal proceeding, or other action,
including any settlement or negotiation, with respect to the matters described
in this Article 5 

 7
 

involving its
interests for its own benefit. ev3 shall provide INVATEC with
any reasonable support and information as INVATEC
may request in relation to any such legal proceeding, settlement or
negotiation.

5.10                           At the request of INVATEC, ev3 shall take part in or give assistance in respect of any
legal proceedings and execute any document and do any things reasonably
necessary to protect INVATEC’s
intellectual and industrial property rights (including without limitation the TRADEMARKS) in the TERRITORY. Any relevant cost and
expense, including legal fees, related to ev3’s assistance will be sustained by
ev3.

5.11                           The PARTIES
agree to consult each other upon request but, in general, not less frequently
than annually, on the need for changes in labelling of the product information
supplied to end users, the medical professional or patients.

5.12                           Except as provided in Article 16.4
(and in such instance, for the period described therein) in order to allow ev3
to continue selling any remaining inventory, ev3 undertakes that following
expiration and/or termination for any reason of the AGREEMENT, it will have no further rights to use and will
refrain from further use of TRADEMARKS
or of any designs or packaging typical of PRODUCTS.

ev3 undertakes as well that, in any
case of expiration and/or termination of this AGREEMENT
may occur, it will not use any marks which are so similar to TRADEMARKS in respect of appearance or
meaning that confusion could arise in practice.

6.                                      ORDERS, DELIVERY AND PAYMENTS.

6.1                                 INVATEC shall supply (or cause an
Affiliate to supply) ev3 with the PRODUCTS. ev3 shall purchase the PRODUCTS exclusively from INVATEC, or its AFFILIATES, designated by INVATEC
and shall not, under any circumstances during the TERM of this AGREEMENT,
purchase any product which is similar in nature to or which competes with the PRODUCTS from any company other than INVATEC or its AFFILIATES.

6.2                                 Orders
shall be in writing, or if made verbally have to be confirmed in writing by ev3
within forty-eight (48) hours. Otherwise verbally made orders will be
considered as not placed by ev3. Under no circumstances, an order shall bind INVATEC unless it is accepted in writing
by INVATEC. Notwithstanding the
above, it is agreed that written orders (or written confirmation of verbal
orders) which are not rejected by INVATEC
within ten (10) SWISS BUSINESS DAYS from the receipt will be deemed to have
been accepted by INVATEC. Once
made, orders shall be binding on ev3.

Orders shall be for
delivery in not less than sixty (60) days.  
Within ten (10) SWISS BUSINESS DAYS from the receipt of the order, Invatec
shall either confirm the delivery date(s) requested by ev3 or provide an
alternative delivery date.  If Invatec
provides an alternative delivery date that is more than ten (10) SWISS BUSINESS DAYS
beyond the date requested by ev3, such modification shall not constitute a
breach of this AGREEMENT, but ev3
may cancel such order(s) in writing within three (3) SWISS BUSINESS DAYS and the quantity of
such order(s) shall constitute a reduction in the MINIMUM ANNUAL VOLUME OF PURCHASES(unless such alteration is due to an event of Force
Majeure as defined in Article 15 or such order is subject to Article 6.4

 8

below).  For purposes of
calculating compliance with the MINIMUM
ANNUAL VOLUME OF PURCHASES, the date confirmed by INVATEC for delivery shall be
determinative.

6.3                                 The
PARTIES agree that: (i) all PRODUCTS delivered during calendar year
2007, regardless of whether the orders were submitted under the PRIOR AGREEMENT or this AGREEMENT, shall count toward the MINIMUM ANNUAL VOLUME OF PURCHASES; and
(ii) the outstanding orders, as of the EFFECTIVE
DATE, that were submitted and confirmed in writing (including e-mail)
under the PRIOR AGREEMENT shall be
deemed to have been submitted and confirmed under the terms of this AGREEMENT (including without limitation
the PRICE-LIST).

6.4                                 INVATEC reserves the right to reject in
whole or in part any order that is not reflected in the most recent the ROLLING FORECASTS delivered in
compliance with Article 12.2 below and/or any order without any liability to
ev3 and without any reduction in the MINIMUM
ANNUAL VOLUME OF PURCHASES.

6.5                                 In
case of any discrepancy between the order and INVATEC’s
order confirmation, the latter will prevail, unless ev3 contests it in writing
within forty eight (48) hours upon receipt of order confirmation.

6.6                                 PRODUCTS will be delivered to ev3 EX WORKS the premises of Invatec or an
Affiliate named in Invatec’s order confirmation or otherwise communicated in
writing to ev3 (as defined in INCOTERMS
2000) where delivery shall take place. Collection and transport of the PRODUCTS shall be effected by ev3 on its
own responsibility and its own expense. All risks shall pass to ev3 on the date
of the delivery of the PRODUCTS
under the terms of this Article.

7.                                      MINIMUM ANNUAL VOLUME OF PURCHASES,
ANNUAL TARGETS.

7.1                                 During the TERM of this AGREEMENT,
ev3 undertakes and guarantees to INVATEC to
achieve the MINIMUM ANNUAL VOLUME
OF PURCHASES agreed
upon by the PARTIES and shall use
commercially reasonable efforts to cause such minimum volumes to reach
end-users during the Term of this Agreement. INVATEC’S sole and exclusive remedy for a violation of this
Article 7.1 shall be as set forth in Article 17.1.

7.2                                 In the event that INVATEC sells any of the PRODUCTSwithin the Territory directly or through partners using the same names as the PRODUCTSor otherwise under the INVATEC
brand, including the TRADEMARKS, other than through an OEM relationship (e.g. on a basis not
involving branding with Invatec trademarks), the obligations in respect of the MINIMUM ANNUAL VOLUME OF PURCHASES set out in Article 7.1 above shall
cease to apply to any PRODUCTS for
any calendar years that have not begun, and the minimum volumes of PRODUCTS for any calendar year that
begins but does not end prior to INVATEC’S commencement of sales triggering this
provision shall be multiplied by a fraction the numerator of which is the
number of days in such calendar year prior to the triggering sale by INVATEC and the denominator of which
shall be three hundred sixty five (365).

8.                                      SPECIFICATIONS.

8.1                                 INVATEC warrants to ev3 that the PRODUCTS sold hereunder will meet the
current specifications for the PRODUCTS (the Specifications). Any claim concerning

 9
 

the non-compliance
of the PRODUCTS with the SPECIFICATIONS, shall be raised by ev3 within ninety (90) days of the sale of
the PRODUCTS by ev3 to customers.

8.2                                 In the event of any breach of this
warranty, ev3 shall have the exclusive right to require INVATEC, within the abovementioned term, to replace the
defective PRODUCTS at INVATEC’s full cost with no right of
ev3 of claiming from INVATEC any
further damages of any nature.

8.3                                 Other than as
expressly provided in this AGREEMENT, INVATEC expressly disclaims all
express or implied warranties, including but not limited to, warranties of
merchantability, fitness for a particular purpose, and/or that the PRODUCTS will not infringe the
intellectual property rights of third parties. 
ev3 shall not represent to its customers that such warranties exist.

9.                                      LIABILITIES.

9.1                                 ev3 shall bear full liability for
its promotion, distribution and sale of the PRODUCTS
in the TERRITORY and for its other
activities related hereto, as well as for complying with the LAWS relating to the REGISTRATION, import, handling, and/or use of the PRODUCTS in the TERRITORY.

9.2                                 INVATEC shall not be responsible for any
damages, claims or losses that ev3 or third parties may suffer by reason of ev3’s
activities mentioned in Article 9.1 or by reason of acts, omissions or
negligence on the part of ev3 or its employees or agents with regard to such
activities and ev3 shall indemnify and hold INVATEC
harmless from and against any and all claims, causes of action, demands,
losses, liabilities, fines, penalties, costs or expenses of any kind, including
without limitation, reasonable attorney and consultant fees and expenses
(hereinafter, collectively Losses),
which may arise out of or be attributable to ev3’s activities or to acts,
omissions or negligence of any ev3’s employees or agents with regard to such
activities.

9.3                                 In any event, in case of claims,
included without limitation claims for infringement of trademarks or patents,
in tort (e.g. product liability) or otherwise arising, connected and/or related
to the manufacturing, placement on the market, distribution, use, sale and/or
other disposal of any PRODUCT in the TERRITORY, lodged by any third party against INVATEC and/orev3, ev3
undertakes to:

(a)                                  if so requested by INVATEC, arrange and/or cooperate for
the preparation of INVATEC’s defense in the relevant
proceedings;

(b)                                 if so requested by INVATEC, participate to the proceedings
at its own expense for the purpose of supporting INVATEC’s
defense.

Subject to Article 9.5 below, any and all
costs (including legal fees) which shall be incurred by INVATEC and/or ev3 for defending any claim and/or legal
action filed against INVATEC
and/or ev3 as provided for in this Article 0 shall be exclusively borne by ev3.

9.4                                 Subject to Article 9.5 below, ev3
undertakes to indemnify and hold INVATEC
harmless from and against any costs and/or losses which INVATEC may incur as a result of claims and legal actions
filed against INVATEC and/or ev3
as provided for in

 10
 

Article 9.3 for
any amount exceeding INVATEC’s
aggregate GROSS MARGIN realized on
the PRODUCTS distributed in the TERRITORY as of the date the cost or
loss is incurred.

9.5                                 ev3 reserves the right:

(a)                                  in case of claim or legal action
from any third party alleging the infringement of a patent by any of the PRODUCTS to propose to INVATEC to cease the sale and
distribution of the relevant PRODUCT
in the TERRITORY; and/or

(b)                                 in case of a claim or legal action
from any third party alleging the infringement of a patent by any of the PRODUCTS, to offer to INVATEC to settle such claim or legal
action against payment by ev3 to such third party of a settlement amount;

(c)                                  in case of a claim or legal action
from a third party for product liability generated by a default in the design
and/or quality of a PRODUCT, to
offer to INVATEC to settle such
claim or legal action against payment by EV3
to such third party of a settlement amount.

Should INVATEC approve the proposal/offer of ev3 under point (i)
above the MINIMUM ANNUAL VOLUME OF
PURCHASES will be accordingly reduced in relation with the relevant PRODUCT.

Should INVATEC reject the proposal/offer of ev3 under points (i),
(ii), or (iii) above in case the claim/legal action is allowed by the competent
court or arbitration body, any and all costs (including legal fees) sustained
for defending the relevant claim and/or legal action and any and all costs or
losses incurred as a result of the relevant judgment or award shall be
exclusively borne by INVATEC.

9.6                                 Neither
Party shall be entitled to claim for any indirect, exemplary, special, punitive
or consequential damages (including without limitation loss of profit).

10.                               REPORTING OF ADVERSE EVENTS,
RECALLS AND INSURANCE.

10.1                           ev3will notify INVATEC within
one (1) day of any adverse events related and/or connected to the promotion,
distribution and/or sale of the PRODUCTS in
the TERRITORY which come to ev3’s
or any ev3’s representative notice and will take any temporary appropriate
action to protect INVATEC’s
interests.

10.2                           In the event that FDA and/or any
other competent authority in the TERRITORY
order a recall or take any other action in connection with the PRODUCTS, ev3 shall notify INVATEC with accurate and detailed
information within one (1) day. The PARTIES
will agree on an appropriate course of action to be taken in the circumstances,
provided that any ultimate decision will be the responsibility of INVATEC. Should ev3 not comply with the
instructions of recall provided by INVATEC
nor be available to agree with INVATEC
the course of action to be taken and provided that INVATEC’s instructions are not in
contrast with the LAWS nor with
the regulations and/or requirements of the FDA or any other competent authority
in the TERRITORY, ev3 will solely
be liable for any damages suffered or to be suffered which may be claimed by
any third party in relation to the distribution and/or sale of the PRODUCTS and in such event it will
indemnify and hold INVATEC harmless
from and against any

 11
 

losses which INVATEC may incur. In the event any
governmental or other regulatory body orders a recall or take any other action
in connection with the PRODUCTS
outside the TERRITORY, INVATEC shall notify ev3 of such action
within three (3) working days, such notification to include a description and reasons
for the action ordered or taken.

10.3                           ev3 shall take out a suitable
insurance policy with a leading insurance company to cover product liability.
The policy shall also indicate INVATEC
as the insured party. The sum insured shall not be less than $2,000,000 and
$5,000,000 for a single person and the aggregate per incident, respectively.
ev3 shall send a copy of the policy to INVATEC
together with a copy of the documents relating to payment of the premium
instalments.

11.                               ADDITIONAL OBLIGATIONS OF THE
PARTIES.

11.1                           ev3 undertakes to:

(a)                                  carry out its duties and
obligations as distributor and to sell the PRODUCTS
in a manner which shall not violate relevant applicable LAWS, particularly those related to marketing of medical
devices and to the communication of scientific information to medical
professionals;

(b)                                 give access to INVATEC to its premises at any time
during business hours to inspect the stock of the PRODUCTS upon three (3) days notice;

(c)                                  submit to INVATEC for INVATEC’s
prior approval, the concept of the brochures and marketing materials related to
the PRODUCTS, provided however
that such approval shall be deemed granted if INVATEC
raises no objection within fifteen (15) days of receipt thereof. Such
approval may only be withheld due to scientific, technical, clinical and
regulatory reasons or other reasons of similar importance.

11.2                           INVATEC undertakes to:

(a)                                  carry out its duties and
obligations and to sell the PRODUCTS
to ev3 in a manner which shall not violate relevant applicable laws or regulations;

(b)                                 co-operate and support ev3 in its
distribution activities in the TERRITORY and
provide ev3 with all the INFORMATION,
including scientific information, needed to promote and sell the PRODUCTS in the TERRITORY;

(c)                                  create and maintain at all times
during the term of this AGREEMENT
a stock of the PRODUCTS adequate
to meet the demand of ev3 as expressed in the forecasts mentioned in Article
12.2.

12.                               REPORTS.

12.1                           ev3 agrees to submit to INVATEC once per quarter, information
regarding sales and inventory of the PRODUCTS as well as its sales activities in
the TERRITORY. ev3 also agrees (i) to submit in
the beginning of the 4th quarter of each calendar year information on the sales
and marketing of the PRODUCTS in the TERRITORY during the preceding contractual year; and (ii) to promptly
notify INVATEC in writing of changes

 12
 

in LAWS in the TERRITORY which may affect the import, marketing and/or sale
of the PRODUCTS in the TERRITORY.

12.2                           In order to enable INVATEC to plan its supply of PRODUCTS to ev3, within ten U.S. business days of the EFFECTIVE DATE (the Initial
Rolling Forecast) and by the end of each calendar
quarter, ev3 shall provide INVATEC
with a quarterly rolling twelve (12) months forecast (the Rolling
Forecast) of
its purchase requirements for the PRODUCTS,
split on a quarterly basis.  Once approved by INVATEC pursuant to Article 6.4 above the ROLLING FORECAST shall be binding as to
quantities expressed for the incoming quarter and subject to review by ev3 on a
quarterly basis provided that quantities expressed in the revised ROLLING FORECASTS shall not be adjusted
by ev3 in excess of:

(a)                                  10% in relation with the following
second quarter;

(b)                                 20% in relation with the following
third quarter; and

(c)                                  30% in relation with the following
fourth quarter.

13.                               CONFIDENTIALITY.

13.1                           The PARTIES
agree that all rights to the INFORMATION
are reserved to INVATEC and ev3
shall use the INFORMATION only for
the purpose of exploiting its rights and fulfilling its obligations under this AGREEMENT.

13.2                           ev3 undertakes to keep confidential
and not to disclose to any third party the INFORMATION
or any other trade secrets of INVATEC which might be disclosed to ev3 in
connection with the AGREEMENT, unless INVATEC’s prior written consent has been obtained.

The above confidentiality
provisions shall not apply to information which:

(a)                                  was available to the public at the
time of disclosure hereunder, as evidenced by suitable published documents;

(b)                                 became of public domain after
disclosure hereunder, without any fault of ev3;

(c)                                  was probably in ev3’s lawful
possession prior to the disclosure hereunder and not acquired directly or
indirectly from INVATEC, such prior possession to be
evidenced by authenticated documentation;

(d)                                 was lawfully received by ev3 after
disclosure hereunder from a third party who did not acquire the information
either directly or indirectly from INVATEC and has the right to disclose such
information to ev3 .

(e)                                  is independently developed by ev3
without use of the INFORMATION.

13.3                           INVATEC undertakes to keep confidential and not to disclose to any third
party any confidential information or any other trade secrets of ev3 which
might be disclosed to INVATEC in connection with the AGREEMENT, unless ev3’s prior written consent has been obtained.

The above confidentiality
provisions shall not apply to information which:

 13
 

 

(a)                                  was available to the public at the
time of disclosure hereunder, as evidenced by suitable published documents;

(b)                                 became of public domain after
disclosure hereunder, without any fault of INVATEC;

(c)                                  was probably in INVATEC’s lawful possession prior to the disclosure hereunder and not
acquired directly or indirectly from ev3, such prior possession to be evidenced
by authenticated documentation;

(d)                                 was lawfully received by INVATEC after disclosure hereunder from a third party who did not acquire
the information either directly or indirectly from ev3 and has the right to
disclose such information to INVATEC.

(e)                                  is independently developed by INVATEC without use of ev3’s confidential
or proprietary information

13.4                           The confidentiality obligations
under this Article 14 shall also extend to the content of this AGREEMENT and shall expressly survive
the termination or expiration of the AGREEMENT and remain in effect for five (5)
years after said termination or expiration.

14.                               TERMINATION.

14.1                           The AGREEMENT
shall come into force at the EFFECTIVE
DATE and shall expire
on 31 December 2008 (the Termination
Date) unless otherwise terminated in accordance with this
Article 14.

14.2                           Each PARTY hereto shall have the right, without prejudice to any
other rights provided by law, to terminate the AGREEMENT
by giving written notice to the other PARTY
if any of the following events occur:

(a)                                  any of the PARTIES become insolvent, is adjudicated bankrupt, applies
for judicial or extra-judicial settlement with its creditors, makes an
assignment for the benefit of its creditors, voluntarily files for bankruptcy
or has a receiver or trustee (or alike) in bankruptcy appointed over its
business, property or assets, or a PARTY
becomes the subject of liquidation or dissolution or involuntary bankrupt
proceedings or otherwise discontinuous business;

(b)                                 any of the PARTIES materially breaches any provision of this AGREEMENT, including but not limited to Articles 2.2(e), 2.3, 3.5, 4.7,
5.4, 5.5, 5.6, 5.7, 6.1, 9.3, 10.2, 10.3, 11.1(a), 11.1(c), 13.2 and 18, and to
the extent such breach is capable of being cured fails to fully cure such
breach within forty-five (45) days (or, in the event of a recurring breach of the
same provision, five (5) days) of receipt of written notice from the PARTY asserting the breach;

(c)                                  any of the PARTIES materially breaches any provision of the Termination
Agreement to the extent such breach is capable of being cured fails to fully
cure such breach within forty-five (45) days (or, in the event of a recurring
breach of the same provision, five (5) days) of receipt of written notice from
the PARTY asserting the breach.

 14
 

14.3                           ev3 may terminate this AGREEMENT at any time, provided that (i)
ev3 has provided at least six (6) months irrevocable written notice of
termination to INVATEC; and (ii) ev3 has complied with the
provisions of Article 16.1.  Termination pursuant to this Article 14.3
shall be without any liability whatsoever, except that ev3 shall purchase a
prorated portion of the MINIMUM
ANNUAL VOLUME OF PURCHASES for the calendar year in which the AGREEMENT
will terminate, through the termination
date.  For purposes of this paragraph,
the MINIMUM ANNUAL VOLUME OF
PURCHASES shall be measured by a fraction the numerator of
which is the number of days in such calendar year prior to the termination date
and the denominator of which shall be three hundred sixty five (365).

14.4                        The provisions contained in Article
13 (CONFIDENTIALITY) and Article
16 (OBLIGATIONS UPON TERMINATION OF THEAGREEMENT) will survive the termination or the expiry of the AGREEMENT.

15.                               FORCE MAJEURE.

15.1                           If any party is unable, wholly or in
part, by reason of FORCE MAJEURE
to carry out any obligations under this AGREEMENT, the obligation shall be suspended
so far as it is affected by such FORCE
MAJEURE during the continuance thereof, but no longer than nine (9)
months. The PARTY concerned shall:

(a)                                  give the other PARTY prompt notice of such FORCE MAJEURE with reasonably full
particulars thereof and, insofar as known, the probable extent to which it will
be unable to perform or be delayed in performing such obligation;

(b)                                 use reasonable diligence to remove
such FORCE MAJEURE or its effects
as quickly as possible.

15.2                           For the purpose of this section Force Majeure shall mean an act of
God, war (declared and undeclared), army mobilization, blockade, revolution,
riot, insurrection, civil commotion, sabotage, lightning, fire, earthquake,
storm, flood, drought, explosion, strike or other labour unrest, unavailability
or inability to obtain or delay in availability of necessary materials,
equipment or transport, and any other cause whether of the kind specifically
enumerated above or otherwise which is not reasonably within the control of the
PARTY affected. If the performance
of the AGREEMENT is suspended for reasons of FORCE MAJEURE for more than nine (9)
months, then either PARTY may
terminate forthwith the AGREEMENT by written notice addressed to the
other PARTY. In such event,
neither PARTY shall be liable
towards the other PARTY by reason
of termination of the AGREEMENT.

16.                               OBLIGATIONS UPON TERMINATION OF THE
AGREEMENT.

16.1                           Except as reasonably necessary to
allow ev3 to continue selling any remaining inventory subject to Article 16.4
below, but without prejudice to any other provision of this AGREEMENT applicable in case of termination and/or expiration of the AGREEMENT, upon termination and/or expiration of the AGREEMENT for whatever causes, ev3 irrevocably undertakes to immediately:

(a)                                  transfer
to INVATEC without any expense for
INVATEC all REGISTRATIONS obtained by ev3 on behalf of INVATEC;

 15
 

 

(b)                                 transfer
to INVATEC without any expense for
INVATEC all INFORMATION (including any copies thereof)
including all productinformation,
documentation concerning clinical trials and tests carried out by ev3 for the
purposes of the AGREEMENT;

(c)                                  transfer
to INVATEC without any expense for
INVATEC all information concerning the customers to whom ev3 sold the PRODUCTS (which information shall
include the name and address of such customers and may be utilized by INVATEC for the purposes of selling its
products without giving effect to any confidentiality provisions of this AGREEMENT or the PRIOR AGREEMENT);

(d)                                 cease to place orders for the PRODUCTS with INVATEC and to promote and sell the PRODUCTS in the TERRITORY;

(e)                                  cease to represent in any manner to
whoever that it is the distributor of INVATEC
in the TERRITORY;

(f)                                    return and transfer to INVATEC all catalogues, price lists,
sales and technical literature, documents, samples and other materials which
may have been provided to ev3 during the TERM
of the AGREEMENT.

16.2                           Should ev3, notwithstanding
the termination/expiration of the AGREEMENT,
be in breach of Article 16.1, ev3 shall refrain from:

(a)                                  using
the INFORMATION in a manner which
might be materially prejudicial to the interests of INVATEC;

(b)                                 applying
to obtain an extension of the REGISTRATIONS
by mentioning a supplier of the PRODUCTS
other than INVATEC or any AFFILIATE of INVATEC; and

(c)                                  taking any initiative which might
prevent INVATEC from using and/or obtaining its
own REGISTRATIONS for the PRODUCTS in the TERRITORY.

16.3                           The obligations provided under this
Article 16.2 shall expressly survive the termination or expiration of the AGREEMENT and remain in effect for five (5) years after said termination or
expiration.

16.4                           The Parties agree that the products
purchased by ev3 under the PRIOR
AGREEMENT may continue to
be sold by ev3 during the TERM of this AGREEMENT and subject to the provisions of the
following sentence. For a period of six (6) months after termination of this AGREEMENT, ev3
may continue to sell the remaining inventory of PRODUCTS(or product
inventory from the PRIOR AGREEMENT) and to use INVATEC’STRADEMARKS with respect to such product sales, provided that such sales are in
compliance with the terms of this AGREEMENT (other than those related to
non-competition).

16.5                           In the event of termination of this
AGREEMENT, for any cause, any and
all sums owing by ev3 to INVATEC
but not yet paid shall automatically and immediately become payable upon the
date of such termination.

16.6                           Termination or expiration of this AGREEMENT shall not entitle ev3 to any
compensation or indemnity in respect of such termination or expiration. The
goodwill

 16

in connection with
the distribution and sale of the PRODUCTS
in the TERRITORY pursuant to this AGREEMENT shall be for the sole and
exclusive benefit of INVATEC.

17.          LIQUIDATED DAMAGES.

17.1         Except as otherwise expressly
provided in this AGREEMENT, in the
event that at December 31, 2008 or such earlier date that this AGREEMENT is terminated other than for
reason of a material breach by INVATEC,
ev3 fails to achieve that proportion of the MINIMUM
ANNUAL VOLUME OF PURCHASES of the PRODUCTS
for the applicable calendar period that represents a pro rata amount of
the MINIMUM ANNUAL VOLUME OF PURCHASES from
the beginning of that calendar year until the date of termination of this AGREEMENT (the Relevant Aggregate Volume),
ev3 shall pay to INVATEC, within
ten (10) SWISS BUSINESS DAYS of receiving notice from INVATEC, an amount equal to (A) [***]
Euros multiplied by (B) the
difference between the RELEVANT AGGREGATE
VOLUME and the aggregate number of units of the PRODUCTS that have been or will be shipped by INVATEC to ev3 (which PRODUCTS shall be paid for by ev3
pursuant to Article 16.5). The PARTIES
acknowledge and agree that such amount constitutes a fair and reasonable
estimate of the damages that INVATEC
would suffer if it entered into this Agreement without achieving the sales and
market benefits of the minimums for each PRODUCT
(e.g., the damage caused by assisting a competitor, the damage done to INVATEC’S ability to negotiate other
distribution agreements in the Territory with this AGREEMENT in place, the loss of brand exposure, and the
delay in building up of its own sales force). 
This Article 17.1 constitutes Invatec’s sole and
exclusive remedy for ev3’s failure to achieve the MINIMUM ANNUAL VOLUME OF PURCHASES; provided,
however,nothing
in this paragraph shall limit the ability of INVATEC
to recover LOSSES for any reason other than failure to achieve the MINIMUM ANNUAL VOLUME OF PURCHASES.

17.2         Without prejudice to ev3’s right to
later maintain defenses that the terms of Article 17.1 above do not apply in
any given circumstance and the payment pursuant to this paragraph should be
reversed, ev3 shall be obliged to effect payment pursuant to Article 17 or any
claim by INVATEC of
indemnification within ten (10) SWISS business days from receipt of INVATEC’s written demand notwithstanding
any opposition ev3 might have and regardless of ev3 filing any dispute related
thereto.

18.          GOOD BUSINESS PRACTICE.

ev3 undertakes and warrants to INVATEC that:

(a)           to its knowledge, the laws of the TERRITORY
and the laws governing this AGREEMENT
do not prohibit the distributor or the principal from entering into this AGREEMENT nor do they render any
provision of this agreement unlawful;

(b)           ev3 will not (in contravention of the LAWS or of the laws governing this AGREEMENT) give or agree to give or offer any gift, loan,
fee, reward, advantage or other valuable consideration of any kind to
government official, customer representatives, or any other persons for the
purpose of furthering the sale of the PRODUCTS
in the TERRITORY;

[***] Confidential treatment has been requested for
the bracketed portions.  The confidential
redacted portion has been omitted and filed separately with the Securities and
Exchange Commission.

 17
 

(c)           ev3 has no financial (other than
ordinary business relationships) or ownership interest, either directly or
indirectly, with either government officials, customer representatives, or any
other persons who are in a position to benefit from or influence or further the
sale of the PRODUCTS in the TERRITORY;

(d)           at any time during the existence of this AGREEMENT ev3 will on request give to INVATEC a written confirmation that the
undertakings and warranties in clauses 18(a), 18(b) and 18(c), remain
unbreached.

19.          SEVERABILITY.

If any part, term or provision of the AGREEMENT shall be found illegal under
or in conflict with the governing law, the validity of the remaining provisions shall not be
affected and a substitute clause be negotiated to preserve as near as possible
the original intent of the AGREEMENT.

20.          NO WAIVER OF RIGHTS.

The failure of either PARTY hereto at any time to enforce any
of the terms, provisions or conditions of the AGREEMENT
shall not be construed as a waiver of the same or of the right of either PARTY to enforce the same on any
subsequent occasion.

21.          ENTIRE AGREEMENT.

21.1         The making, execution and delivery
of the AGREEMENT by INVATEC and by ev3 have been induced by
no representations, statements, warranties or agreements other than those
herein expressed. The AGREEMENT,
as executed, together with the Termination Agreement, constitutes the entire AGREEMENT and understanding on the PRODUCTS between the PARTIES hereto with respect to matters
addressed herein and therein, and except as specifically set forth herein there
are no other agreements, understandings, representations, covenants, warranties
or guaranties, written or oral, between the PARTIES,
relating to the subject matter of the AGREEMENT.
Prior arrangements, agreements and understandings other than the Termination
Agreement, if any, are superseded by this AGREEMENT.

21.2         It is further understood and agreed
that the AGREEMENT may only be
amended, modified or supplemented by a written instrument executed by both PARTIES. The PARTIES remedies with respect to the AGREEMENT, whether in contract or otherwise, shall be
limited to those expressly set forth in the AGREEMENT.

22.          INTERPRETATION OF THE AGREEMENT.

22.1         Except as otherwise expressly set
forth in this AGREEMENT in order
to fulfil the obligation here undertaken in reference to the PRODUCTS, none of the provision of this AGREEMENT shall be construed as granting
ev3 any license expressed or implied to use in any manner the TRADEMARKS and or any trade name,
patents, know-how, packaging or packaging leaflets covering the PRODUCTS and of which INVATEC is or may become the owner or
has or will have the right to use and which relate or will relate to the PRODUCTS.

22.2         In order to avoid any doubt and
notwithstanding the provision contained in this AGREEMENT,
the PARTIES hereby declare that
nothing in this AGREEMENT shall be
construed as granting ev3 any right whatsoever to manufacture the PRODUCTS.

 18
 

22.3         Nothing in this AGREEMENT shall create a partnership or
joint venture between the PARTIES hereto
and save as expressly provided in this AGREEMENT
neither PARTY shall enter into or
have authority to enter into any engagement or make any representation or
warranty on behalf of or otherwise bind or oblige the other PARTY hereto.

23.          ASSIGNMENT.

Neither PARTY shall, without the prior written consent of the other PARTY, directly or indirectly assign
this AGREEMENT or any of the
rights hereunder, nor delegate any of the duties or obligations hereunder,
which consent shall not be unreasonably withheld; provided however that INVATEC may at any time assign to any
third parties the credits deriving to it from the AGREEMENT.

Any assignment or delegation in
derogation of this provision shall be deemed null or void.

24.          NOTICES.

All notices to be effective
hereunder must be by registered mail, by Federal Express or by fax in writing
and, if they are meant for INVATEC,
addressed to:

	
  Invatec Technology Center

  GmbH.

  	
   

  	
  Hungerbuelstrasse
  12, 8500 Frauenfeld,

  Switzerland

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Attn.:

  	
  General Manager

  
	
   

  	
   

  	
  Tel.:

  	
  +

  
	
   

  	
   

  	
  Fax

  	
  +

  
	
   

  	
   

  	
   

  	
   

  
	
  and, if they are meant for ev3,

  addressed to:

  	
   

  	
  9600 54th Avenue North

  Plymouth, Minnesota 55442

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Attn.:

  	
  James M. Corbett

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  With a copy to:

  	
  Kevin Klemz,
  Chief Legal Officer

  (at the same address)

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Tel.:

  	
  763-398-7000

  
	
   

  	
   

  	
  Fax:

  	
  763-398-7200

  
					

 

provided also that each PARTY shall promptly notify the other by
registered mail of any change of address.

25.          GOVERNING LAW; ARBITRATION.

25.1         The parties hereto agree that all
of the provisions of this Agreement (including the Schedules and exhibits
attached hereto and thereto) and any questions concerning its or their
interpretation and enforcement shall be governed by the laws of the State of
New York without regard to conflicts of law or choice of law provisions in such
State or the United States; provided, however, that nothing herein shall require the application
of such law where the law of another nation or state mandates the application
of a body of law from that nation or state, but only as to events occurring
within that nation or state.

 19
 

25.2         If any dispute, controversy or
claim arises out of or in connection with this Agreement including the breach,
termination or invalidity thereof (Dispute), then such Dispute shall be finally
settled by binding arbitration under the Rules of Arbitration of the
International Chamber of Commerce in force at the time of such arbitration
(except as such rules may be modified herein or by mutual agreement of the
parties) by three arbitrators to be appointed in accordance with the Rules of
Arbitration of the International Chamber of Commerce.  The seat of the arbitration shall be the
County of New York in the City of New York, USA and the language of the
arbitration shall be English.

25.3         The
parties expressly agree that any discovery permitted by the arbitrators in
connection with the Dispute shall be governed by the IBA Rules on the Taking of
Evidence in International Commercial Arbitration, as amended.

25.4         The
arbitral award shall be in writing, state the reasons for the award, and be
final and binding on the parties. 
Judgment upon the award may be entered by any court having jurisdiction
thereof or having jurisdiction over the parties or their assets.

25.5         The
arbitration provisions of this paragraph shall not prevent a party from seeking
specific performance from a court of competent jurisdiction pending completion
of the arbitration.

26.          SPECIFIC PERFORMANCE.

26.1         The parties acknowledges
that other than a failure to meet the MINIMUM ANNUAL VOLUME OF PURCHASES
or other provisions expressly subject to Article 17 hereof, any breach of this AGREEMENT by the other party during the TERM of this AGREEMENT may result in irreparable and continuing damage to
the non-breaching party for which there may be no adequate remedy at law and
that, in the event of any such breach, the non-breaching party shall be
entitled to seek injunctive relief, including specific performance, and to such
further and other relief as may be necessary and proper to ensure compliance by
the breaching party with this AGREEMENT.  For purposes of clarity, the arbitration
provisions set forth in Article 25 shall not preclude either party from seeking
specific performance in a court of law, which shall be venued in the State of
New York

	
  INVATEC TECHNOLOGY CENTER GMBH

  	
   

  	
  ev3 Endovascular, Inc.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/ Silvio Schaffner

  	
   

  	
  /s/ James M
  Corbett

  	
   

  
					

 

 20
 

LIST OF EXHIBITS

1.             List
of the PRODUCTS.

2.             PRICE-LIST.

 21
 

EXHIBIT 1

LIST OF THE PRODUCTS

PTA BALLOON CATHETERS

SAILOR Plus – 5F Peripheral Angioplasty catheter

SUBMARINE Plus – 3.7F Peripheral Angioplasty catheter

AMPHIRION DEEP – 2.8F Peripheral Angioplasty catheter

ADMIRAL – 5F  Peripheral Angioplasty Catheter

ACCESSORIES

DIVER CE THROMBUS ASPIRATION CATHETER – Clot
Extracting Thrombus Aspiration catheter

 22
 

EXHIBIT 2

PRICE-LIST

	
  Per Product/PRICE (€)

  	
   

  	
  2007

  	
   

  	
  2008

  
	
  SAILOR Plus

  	
   

  	
  [***]

  	
   

  	
  [***]

  
	
  SUBMARINE Plus

  	
   

  	
  [***]

  	
   

  	
  [***]

  
	
  AMPHIRION DEEP

  	
   

  	
  [***]

  	
   

  	
  [***]

  
	
  ADMIRAL

  	
   

  	
  [***]

  	
   

  	
  [***]

  
	
  DIVER CE
  THROMBUS ASPIRATION CATHETER

  	
   

  	
  [***]

  	
   

  	
  [***]

  

 

[***] Confidential treatment has been requested for the bracketed portions.  The confidential redacted portion has been
omitted and filed separately with the Securities and Exchange Commission.

 23

CONTENTS

	
  CLAUSE

  	
   

  	
  PAGE

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.

  	
   

  	
  DEFINITIONS

  	
   

  	
  1

  
	
  2.

  	
   

  	
  APPOINTMENT OF EV3 AND GENERAL UNDERTAKINGS OF EV3

  	
   

  	
  3

  
	
  3.

  	
   

  	
  PAYMENTS

  	
   

  	
  5

  
	
  4.

  	
   

  	
  CLINICAL TESTS AND REGISTRATIONS

  	
   

  	
  5

  
	
  5.

  	
   

  	
  TRADEMARKS, LABELS
  AND OTHER INTELLECTUAL PROPERTY

  	
   

  	
  6

  
	
  6.

  	
   

  	
  ORDERS, DELIVERY
  AND PAYMENTS

  	
   

  	
  8

  
	
  7.

  	
   

  	
  MINIMUM ANNUAL
  VOLUME OF PURCHASES, ANNUAL TARGETS

  	
   

  	
  9

  
	
  8.

  	
   

  	
  SPECIFICATIONS

  	
   

  	
  9

  
	
  9.

  	
   

  	
  LIABILITIES

  	
   

  	
  10

  
	
  10.

  	
   

  	
  REPORTING OF
  ADVERSE EVENTS, RECALLS AND INSURANCE

  	
   

  	
  11

  
	
  11.

  	
   

  	
  ADDITIONAL
  OBLIGATIONS OF THE PARTIES

  	
   

  	
  12

  
	
  12.

  	
   

  	
  REPORTS

  	
   

  	
  12

  
	
  13.

  	
   

  	
  CONFIDENTIALITY

  	
   

  	
  13

  
	
  14.

  	
   

  	
  TERMINATION

  	
   

  	
  14

  
	
  15.

  	
   

  	
  FORCE MAJEURE

  	
   

  	
  15

  
	
  16.

  	
   

  	
  OBLIGATIONS UPON
  TERMINATION OF THE AGREEMENT

  	
   

  	
  15

  
	
  17.

  	
   

  	
  LIQUIDATED
  DAMAGES

  	
   

  	
  17

  
	
  18.

  	
   

  	
  GOOD BUSINESS
  PRACTICE

  	
   

  	
  17

  
	
  19.

  	
   

  	
  SEVERABILITY

  	
   

  	
  18

  
	
  20.

  	
   

  	
  NO WAIVER OF
  RIGHTS

  	
   

  	
  18

  
	
  21.

  	
   

  	
  ENTIRE AGREEMENT

  	
   

  	
  18

  
	
  22.

  	
   

  	
  INTERPRETATION
  OF THE AGREEMENT

  	
   

  	
  18

  
	
  23.

  	
   

  	
  ASSIGNMENT

  	
   

  	
  19

  
	
  24.

  	
   

  	
  NOTICES

  	
   

  	
  19

  
	
  25.

  	
   

  	
  GOVERNING LAW;
  ARBITRATION

  	
   

  	
  19

  
	
  26.

  	
   

  	
  SPECIFIC
  PERFORMANCE

  	
   

  	
  20

  
	
  EXHIBIT 1 LIST OF THE PRODUCTS

  	
   

  	
  22

  
	
  EXHIBIT 2 PRICE-LIST

  	
   

  	
  23

  

 

 24

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00117-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00117-of-00352.parquet"}]]