Document:

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                                                                   Exhibit 10.34

                             EMPLOYMENT AGREEMENT

     This Employment Agreement, dated as of the 1st day of January, 2000,
between James G. Binch (the "Executive") and Memry Corporation, a Delaware
corporation (the "Company").

                             W I T N E S S E T H,
                             - - - - - - - - - -

     WHEREAS, the Company and the Executive are currently party to an Employment
Agreement, dated as of September 24, 1993 (the "Prior Employment Agreement"), by
which the Executive is currently employed as the Company's Chairman and Chief
Executive Officer; and

     WHEREAS, the Company and the Executive desire to enter into a revised
employment agreement on the terms and conditions set forth below (this
"Agreement") in substitution for the Prior Employment Agreement;

     NOW, THEREFORE, in consideration of the premises and of the covenants and
agreements set forth herein, the parties agree as follows:

     1.   Employment and Duties.
          ---------------------

          (a) The Company hereby agrees to employ the Executive, and the
     Executive hereby accepts employment, upon the terms and conditions set
     forth herein.  During the period during which he is employed hereunder (the
     "Period of Employment"), the Executive shall diligently and faithfully
     serve the Company in the capacity of Chairman of the Board and Chief
     Executive Officer, or in such other and/or lesser executive capacity or
     capacities as the Board of Directors and the Executive may, from time to
     time, agree.

          (b) During the term hereof, the Executive shall, at the request of the
     Company, serve as an officer and/or director of direct and indirect
     subsidiaries, and other affiliates, of the Company as the Company, acting
     through its Board of Directors, shall request from time to time.

          (c) The Executive shall devote his best efforts and substantially all
     of his business time, services and attention to the advancement of the
     Company's business and interests.  The restrictions in this Section 1 shall
     in no way prevent the Executive from serving as President and Chief
     Executive Officer of Harbour Investment Corporation, the managing general
     partner of Harbour Holdings Limited Partnership, or any successor entity
     thereto (but only for so long as such entity's business is limited to the
     management, holding and eventual liquidation of its current portfolio), nor
     will it prevent the Executive from serving as an outside director of those
     corporations listed on Schedule A hereto or (except as set forth in the
     immediately succeeding sentence) pursuing other activities, so long as all
     of such other activities do not, in the aggregate, materially interfere
     with the Executive's duties hereunder (including his obligation to devote
     substantially all of his business time, services and attention to the
     Company).  Notwithstanding the foregoing, however, the Executive shall not
     accept any future outside directorships without the prior consent of the
     Company's Board of Directors.
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          (d) The Executive shall, at all times during the Period of Employment,
     diligently and faithfully carry out the policies, programs and directions
     of the Board of Directors of the Company. The Executive shall comply with
     the directions and instructions made or given by or under the authority of
     the Company's Board of Directors and whenever requested to do so shall give
     an account of all transactions, matters and things related to the Company
     and its affiliates and their affairs with which the Executive is entrusted.

     2.   Term.  The initial term of this Agreement shall commence on the date
          ----
hereof, and shall terminate on the day before the third anniversary of such date
(the "Initial Term").  Thereafter, the term of this Agreement shall be
automatically renewed for successive one-year periods, each commencing on the
month and day of this Agreement in the appropriate year and terminating on the
day before such date in the subsequent year, unless either party notifies the
other in writing of such party's intention not to renew at least one hundred and
eighty (180) days prior to the date on which the term of this Agreement would
otherwise terminate.  The Initial Term and such other periods for which the term
hereof has been extended as aforesaid is collectively referred to herein as the
"Term."

     3.   Compensation.  In consideration of the services rendered and to be
          ------------
rendered by the Executive, the Company agrees to compensate the Executive as
follows:

          (a) From the date hereof the Company shall pay to the Executive an
     annual base salary of $244,000, payable in equal installments every two
     weeks.  The Executive's base salary may be increased from time to time by
     the Board in accordance with normal business practices of the Company.

          (b) The Executive shall also be entitled to receive additional
     compensation in the form of an annual bonus and/or stock option grants
     determined by and in the sole discretion of the Board of Directors of the
     Company.  Such grants may be made pursuant to any bonus and/or incentive
     compensation programs that may be established by the Company, including
     without limitation the Company's current incentive plans; provided,
     however, that nothing set forth in this sentence will in any way limit the
     Board of Directors discretion to approve or reject any bonus that the
     Executive would otherwise be due under any such plans.

          (c) The Executive shall be entitled to an automobile allowance of $500
     per month, to be paid in accordance with the Company's policy for paying
     automobile allowances as in effect from time to time.

          (d) If, and only if, at any time during the Period of Employment (or,
     if the Period of Employment is terminated pursuant to Section 8(e), the
     Term) there is a Sale of the Company (as defined below), then the Executive
     shall receive a special one-time bonus, payable in cash, simultaneously
     with such Sale of the Company, in an amount equal to 1% of the product of
     (x) the Company Net Benefits (as defined below), multiplied by (y)
     25,000,000.

     For purposes of this Section 3(d), the following terms shall have the
following meanings:

     "Company Net Benefits" means the difference between (x) amount that will be
realized by the holder of one share of Company Stock (as constituted on the date
hereof) upon the consummation of the Sale of the Company (whether paid to such
shareholders directly or upon an anticipated liquidation of the Company), as
determined in good faith by the Company's Board of Directors, after evaluating
the worth of any non-cash

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consideration that will be received by the Company's shareholders upon the Sale
of the Company (including any appropriate discounts for lack of marketability),
minus (y) $2.00.

     "Sale of the Company" shall mean the sale of all or substantially all of
the Company's assets, or the sale of all (or at least 80%), in one transaction
or a series of related transactions, of the Company Stock, or the merger or
consolidation of the Company with or into any other corporation or other entity
in a transaction in which the holders of the Company Stock immediately prior to
such event own less than a majority of the surviving entity's issued and
outstanding common stock immediately upon the consummation of such event.

          (e)  The Executive shall also be entitled to receive up to $30,000 per
     year from the Company towards retirement and/or deferred compensation
     benefits.  Said amount may be used for split dollar life insurance, a
     retirement plan, a rabbi trust or such other method or methods as may be
     selected by the Executive subject to the consent of the Company's Board of
     Directors (not to be unreasonably withheld).

          (f)  The Executive shall be entitled to other fringe benefits
     comparable to the benefits afforded to other executive employees of the
     Company, including but not limited to reasonable sick leave and coverage
     under any health, accident, hospitalization, disability, retirement, life
     insurance, 401(k), and annuity plans, programs or policies maintained by
     the Company.  In addition, and without limiting the foregoing, the Company
     shall provide the Executive with the following:

               (i)  twenty working days of vacation per calendar year, no more
          than thirty of which (in the aggregate) may be carried over from one
          year to the next; and

               (ii) reimbursement of all dues payable by the Executive to one
          executive association of the Executive's choice (subject to the
          reasonable approval of the Company's Board of Directors).

          (g)  The Executive shall be entitled to reimbursement, in accordance
     with Company policy, of all reasonable out-of-pocket expenses which he
     incurs on behalf of the Company in the course of performing his duties
     hereunder, subject to furnishing appropriate documentation of such expenses
     to the Company's Chief Financial Officer.  If the Company's Chief Financial
     Officer does not believe that some or all of such expenses should be
     approved, a representative of the Compensation Committee shall be asked to
     make the final determination as to whether or not the Executive is entitled
     to reimbursement for such item.

     4.   Covenant Not to Compete; Nonsolicitation.
          ----------------------------------------

          (a)  Except as specifically set forth in this Section 4, during the
     Period of Employment, the Executive will not engage, directly or
     indirectly, anywhere in the United States (including its territories,
     possessions and commonwealths) or Canada in any business which competes or
     could reasonably be expected to compete with the Company and/or its
     affiliates and, for a period of two years after the termination of the
     Period of Employment, any business which competes or could reasonably be
     expected to compete with the Company and/or its affiliates as of the date
     of termination; provided, however, that (i) the ownership by the Executive
     of less than 2% of the outstanding stock of any publicly traded corporation
     shall not be deemed solely by reason thereof to cause the Executive to be
     engaged in any businesses being conducted by such publicly traded

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     corporation; and (ii) the Company, at its sole discretion, may, by written
     notice to the Executive no more than six (6) months and no less than three
     (3) months prior to the end of the two-year period described above, extend
     such two-year period for a third year, in which case the Company will be
     obligated to pay the Executive, quarterly in advance, at the rate of the
     Executive's base salary in effect on the last day of the Period of
     Employment, for such additional one-year non-compete period.  If the final
     judgment of a court of competent jurisdiction declares that any term or
     provision of this Section 4(a) is invalid or unenforceable, the parties
     agree that the court making the determination of invalidity or
     unenforceability shall have the power to reduce the scope, duration, or
     area of the term or provision, to delete specific words or phrases, or to
     replace any invalid or unenforceable term or provision with a term or
     provision that is valid and enforceable and that comes closest to
     expressing the intention of the invalid or unenforceable term or provision,
     and this Agreement shall be enforceable as so modified after the expiration
     of the time within which the judgment may be appealed.

          (b) During the Period of Employment and for a period of three years
     thereafter, the Executive will not, directly or indirectly, either for
     himself or for any other person or entity (i) solicit (A) any employee of
     the Company or any affiliate of the Company to terminate his or her
     employment with the Company or such affiliate during his or her employment
     with the Company or such affiliate or (B) any former employee of the
     Company or an affiliate of the Company for a period of one year after such
     individual terminates his or his employment with the Company or such
     affiliate, (ii) solicit any customer or client of the Company or any such
     affiliate (or any prospective customer or client of the Company or such
     affiliate) as of the termination of the Period of Employment to terminate
     its relationship with the Company or such affiliate, or do business with
     any third parties, or (iii) take any action that is reasonably likely to
     cause injury to the relationships between the Company or any such affiliate
     or any of their respective employees and any lessor, lessee, vendor,
     supplier, customer, distributor, employee, consultant or other business
     associate of the Company or any such affiliate as such relationship relates
     to the Company's or such affiliate's conduct of its business.

     5.   Covenant Not to Disclose Information.  The Executive agrees that
          ------------------------------------
during the Period of Employment and thereafter, he will not use or disclose,
other than to another employee of the Company, qualified by the Company to
receive that information in the normal course of business, any confidential
information or trade secrets of the Company or any affiliate of the Company
which were made known to him by the Company, its officers or employees or
affiliates, or learned by him while in the Company's employ, without the prior
written consent of the Company, and that upon termination of his employment for
any reason, he will promptly return to the Company any and all properties,
records, figures, calculations, letters, papers, drawings, schematics or copies
thereof or other confidential information of the Company and its affiliates of
any type or description.  It is understood that the term "trade secrets" as used
in this Agreement is deemed to include, without limitation, lists of the
Company's and its affiliates' respective customers, information relating to
their practices, know-how, processes and inventions, and any other information
of whatever nature which gives the Company or any affiliate an opportunity to
obtain an advantage over its competitors who do not have access to such
information.

     6.   Remedy at Law Inadequate.  The Executive acknowledges that any remedy
          ------------------------
at law for breach of any of the restrictive covenants (Sections 4 and 5)
contained in this Agreement would be inadequate and the Company shall be
entitled to injunctive relief in the event of any such breach.

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     7.   Inventions and Improvements.  With respect to any and all inventions
          ---------------------------
(as defined in Section 7(e) below) made or conceived by the Executive, whether
or not during his hours of employment, either solely or jointly with others,
during the Period of Employment, without additional consideration:

          (a) The Executive shall promptly inform the Company of any such
     invention.

          (b) Any such invention, whether patentable or not, shall be the
     property of the Company, and the Executive hereby assigns and agrees to
     assign to the Company all his rights to any such invention, and to any
     United States and/or foreign letters patent granted upon any such invention
     or any application therefor.

          (c) The Executive shall apply, at the Company's request and expense,
     for United States and/or foreign letters patent either in the Executive's
     name or otherwise as the Company may desire.

          (d) The Executive shall acknowledge and deliver promptly to the
     Company, without charge to the Company but at its expense, all sketches,
     drawings, models and figures and other information and shall perform such
     other acts, such as giving testimony in support of his inventorship, as may
     be necessary in the opinion of the Company to obtain and maintain United
     States and/or foreign letters patent and to vest the entire right and title
     thereto in the Company.

          (e) For purposes of this Section, the term "invention" shall be deemed
     to mean any discovery, concept or idea (whether patentable or not),
     including but not limited to processes, methods, formulas, techniques,
     hardware developments and software developments, as well as improvements
     thereof or know-how related thereto, (i) concerning any present or
     prospective activities of the Company and its affiliates and (ii) (A) which
     the Executive becomes acquainted with as a result of his employment by the
     Company, (B) which results from any work he may do for, or at the request
     of, the Company or any of its affiliates, (C) which relate to the Company's
     or any affiliates' business or actual or demonstrably anticipated research
     and development, or (D) which are developed in any part by use of the
     Company's or any such affiliates' equipment, supplies, facilities or trade
     secrets.

The parties hereto agree that the covenants and agreements contained in this
Section 7 are, taken as a whole, reasonable in their scope and duration, and no
party shall raise any issue of the reasonableness of the scope or duration of
any such covenants in any proceeding to enforce any such covenants.

     8.   Termination of Employment.
          -------------------------

          (a) The Executive's Period of Employment hereunder may not be
     terminated prior to the expiration of the Term except in accordance with
     the provisions of this Section 8.

          (b) The Executive's Period of Employment may be terminated by the
     Company for cause.  For purposes of this Agreement, "for cause" means that
     termination occurs in connection with a determination, made at a meeting of
     the Board of Directors at which the Executive (and, at the Executive's
     option, his counsel) shall have had a right to participate, that the
     Executive has (i) committed an act of gross negligence or willful
     misconduct, or a gross dereliction of duty, that has materially and
     adversely affected the overall performance of his duties hereunder; (ii)
     committed fraud upon the Company in his capacity as an employee hereunder;
     (iii) been convicted of, or pled

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     guilty (or nolo contendere) to, a felony that the Board of Directors,
     acting in good faith, determines is or would reasonably be expected to have
     a material adverse effect upon the business, operations, reputation,
     integrity, financial condition or prospects of the Company; (iv) any
     material breach by the Executive of the terms hereof; (v) failure to follow
     instructions from a person authorized to give them pursuant to Section 1(d)
     above that is lawful and not inconsistent with the terms hereof; (vi) the
     Executive's habitual drunkenness or habitual substance abuse; (vii) civil
     or criminal violation of any state or federal government statute or
     regulation, or of any state or federal law relating to the workplace
     environment (including without limitation laws relating to sexual
     harassment or age, sex or other prohibited discrimination), or any
     violation of any Company policy adopted in respect of any of the foregoing;
     or (viii) a failure by the Executive to meet the minimum objectives
     established in the annual "Memry Sharing Plan" to receive any bonus
     pursuant to Section 3(b) above with respect to two consecutive fiscal
     years. "For cause" termination must be accompanied by a written notice to
     that effect. If the Executive is terminated for cause, the Executive shall
     be paid through the date of his termination.

          (c) If the Executive dies, the Period of Employment shall terminate
     effective at the time of his death; provided, however, that such
     termination shall not result in the loss of any benefit or rights which the
     Executive may have accrued through the date of his death.  If the Period of
     Employment is terminated prior to the expiration of the Term due to the
     Executive's death, the Company shall make a severance payment to the
     Executive or his legal representatives equal to the Executive's regular
     salary payments through the end of the month in which such death occurs.
     In addition, the Company shall make a severance payment to the Executive or
     his legal representative equal to the Executive's target bonus described in
     Section 3(b), pro rated for the portion of such fiscal year completed prior
     to the Executive's death; provided, however, that such pro rated portion of
     the Executive's target bonus shall be paid to the Executive following the
     completion of such fiscal year at the time similar bonuses are paid to
     other employees of the Company.

          (d) If the Executive becomes disabled, the Period of Employment may be
     terminated, at the Company's option, at the end of the calendar month
     during which his disability is determined; provided, however, that such
     termination shall not result in the loss of any benefits or rights which
     the Executive may have accrued through the date of his disability.  If the
     Period of Employment is terminated prior to the expiration of the Term due
     to the Executive's disability, the Company shall make a severance payment
     to the Executive or his legal representative equal to the Executive's
     regular salary payments for a period of six (6) months from the date of
     such termination or, if sooner, until payments begin under any disability
     insurance policy maintained by the Company for the benefit of the
     Executive.  For the purposes of this section, the definition of
     "disability" shall be the same as the definition of a "permanent
     disability" contained in any long-term disability insurance policy
     maintained by the Company in effect at the time of the purported
     disability, or last in effect, if no policy is then in effect.

          (e) If the Executive's Period of Employment is terminated by the
     Executive for "Good Reason," as hereinafter defined, or is terminated by
     the Company without cause (and the Company may terminate the Period of
     Employment without cause at any time) then, in addition to the other rights
     to which the Executive is entitled upon a termination as provided for
     herein, the Executive shall also be entitled to a lump-sum payment equal to
     the sum of (i) two (2) times the Executive's annual salary, at the rate of
     salary in effect immediately prior to the effective date of such
     termination (without regard to any purported or attempted reduction of such
     rate by the Company), plus (ii) the amount of any cash bonuses paid to the
     Executive in the two (2) years immediately prior

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     to such termination. For purposes of this Agreement, the term "Good Reason"
     shall mean: (i) the failure by the Company to observe or comply with any of
     the provisions of this Agreement if such failure has not been cured within
     ten (10) days after written notice thereof has been given by the Executive
     to the Company; or (ii) at the election of the Executive, upon a Change in
     Control of the Company, as defined in Section 11(f) (which election can be
     made at any time upon thirty (30) days' prior written notice given within
     two (2) years following the date on which the Change in Control of the
     Company occurred) if, subsequent to such Change in Control, there is a
     material diminution in the position, duties and/or responsibilities of the
     Executive. Further, in the event of a termination pursuant to this Section
     8(f), or pursuant to Section 8(c) or Section 8(d), to the extent allowable
     under the provisions of the Internal Revenue Code of 1986, as amended, and
     the rules and regulations promulgated thereunder, and the plans pursuant to
     which the same were granted, all incentive and non-qualified stock options
     then held by the Executive still subject to any vesting requirements shall
     have such vesting requirements terminated (such that all such options are
     then immediately exercisable).

     9.   Effect of Termination.  Upon termination of the Executive's employment
          ---------------------
for any reason whatsoever, all rights and obligations of the parties under this
Agreement shall cease, except that the Executive shall continue to be bound by
the covenants set forth in Sections 4, 5, 6 and 7 hereof, and the Company shall
be bound to pay to the Executive accrued compensation, including salary and
other benefits, to the date of termination and any severance payments which may
be owed under the provisions of Section 8 hereof.

     10.  Legal Fees.  Upon the presentation of proper invoices, the Company
          ----------
will reimburse the Executive for up to $1,500 for legal fees and disbursements
incurred by the Executive in connection with the review and negotiation of this
Agreement.

     11.  Miscellaneous.
          -------------

          (a) This Agreement may not be assigned by the Executive.  The Company
     may assign this Agreement in connection with a Sale of the Company.

          (b) In the event that any provision of this Agreement is found by a
     court of competent jurisdiction to be invalid or unenforceable, such
     provision shall be, and shall be deemed to be, modified so as to become
     valid and enforceable, and the remaining provisions of this Agreement shall
     not be affected.

          (c) This Agreement shall be governed by and construed in accordance
     with the laws of the State of Connecticut.

          (d) No modification of this Agreement shall be effective unless in a
     writing executed by both parties.

          (e) This Agreement constitutes the entire agreement of the parties
     with respect to the subject matter hereof, and supercedes all prior
     agreements, representations and promises by either party or between the
     parties, including without limitation, the Prior Employment Agreement,
     notwithstanding any provisions therein which state that certain provisions
     shall survive the termination of the Prior Employment Agreement.

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          (f) For purposes of this Agreement, "Change in Control of the Company"
     shall mean: (i) any merger or consolidation or other corporate
     reorganization of the Company in which the Company is not the surviving
     entity; or (ii) any sale of all or substantially all of the Company's
     assets, in either a single transaction or a series of transactions; or
     (iii) a liquidation of all or substantially all of the Company's assets; or
     (iv) a change within one twelve-month period of a majority of the directors
     constituting the Company's Board of Directors at the beginning of such
     twelve-month period; or (v) if a single person or entity, or a related
     group of persons or entities, at any time beneficially owns 25% or more of
     the Company's outstanding voting securities; unless, with respect to any
     event described in clauses (i) through (v), the Executive agrees in
     writing, prior to the consummation of the event giving rise to the Change
     in Control of the Company, that such event or events does not for purposes
     of this Agreement constitute a Change in Control of the Company or, as a
     director, votes in favor of the matter that would otherwise cause the
     Change in Control of the Company and unless, with respect to clause (iv),
     the change of directors is approved by the Board of Directors as
     constituted prior to such change.

     IN WITNESS WHEREOF, the parties hereto have signed this Agreement as of the
date first above written.

                              MEMRY CORPORATION

                              By: /s/ Robert P. Belcher
                                 ---------------------------------------
                                  Name: Robert P. Belcher
                                  Title: VP and Chief Financial Officer

                               /s/ James G. Binch
                              ------------------------------------------
                              James G. Binch

                                      -8-
<PAGE>

                                  Schedule A
                                  ----------

APL Group Inc. (d/b/a Eventra)

Visual Technologies Ltd.

                                      -9-<PAGE>

                                                                   Exhibit 10.35

     SALES AGENCY AGREEMENT

     This Sales Agency Agreement ("Agreement") is made and entered into this lst
day of February, 2000 (the "Effective Date"), between Memry Corporation, a
Delaware corporation with its principal place of business at 57 Commerce Drive,
Brookfield, Connecticut 06804 ("Memry"), and Tyco Electronics Corporation, a
Pennsylvania corporation with a place of business at 300 Constitution Drive,
Menlo Park, California 94025-1164, successor to Raychem Corporation ("Sales
Agent").

     WHEREAS, Memry and Sales Agent are party to an Amended and Restated Private
Label/Distribution Agreement, made and executed February 19, 1997 and effective
as of December 20, 1996 (as amended from time to time the "Private
Label/Distribution Agreement"), whereby Sales Agent has acted as a private label
reseller and distributor of certain of Memry's products; and

     WHEREAS, Memry and Sales Agent wish to terminate the Private
Label/Distribution Agreement, effective upon the execution and delivery of this
Agreement; and

     WHEREAS, Memry wishes to retain Sales Agent to be its exclusive sales agent
with respect to certain of its products on the terms and conditions set forth
herein, and Sales Agent wishes to act as sales agent for certain of Memry's
products on the terms and conditions set forth herein; and

     WHEREAS, Memry and Sales Agent are also party to certain other agreements
specified herein that they wish to amend simultaneously with the execution and
delivery hereof.

     NOW THEREFORE, in consideration of the premises, agreements, covenants and
conditions herein contained, and for other good and adequate consideration, the
receipt and adequacy of which is acknowledged by the parties hereto, it is
agreed as follows:

     1.   Definitions.   For the purposes of this Agreement, the following terms
          -----------
shall have the following respective meanings:

          "Affiliate" means an entity controlling, controlled by or under common
           ---------
control with another entity.

          "Back-Logged Products Sales" means future sales by Memry of particular
           --------------------------
Products to particular customers pursuant to either (i) the purchase orders of
Sales Agent accepted by Memry prior to December 15, 1999, which are set forth on
Schedule A hereto, or (ii) purchase orders of the customers of such Products
issued to Memry in connection with the termination or cancellation of any
purchase order described in clause (i) subsequent to the execution and delivery
of this Agreement (it being agreed and understood that any purchase order
pursuant to this clause (ii) shall, for purposes of this clause (ii), be limited
in amount to the unfilled portion of the purchase order described in clause (i)
above that it is replacing).

          "Business Day" means a day on which banks are not required or
           ------------
authorized to be closed in either the State of California or the State of
Connecticut.
<PAGE>

          "Confidential Information" means any information or data (including
           ------------------------
without limitation pricing and margin information) disclosed by one party to
another pursuant to this Agreement; provided, however, that information and data
shall not be deemed to be Confidential Information unless disclosed in writing
and clearly marked "confidential" or "proprietary" or, if disclosed orally,
reduced to writing and clearly marked "confidential" or "proprietary" and
delivered to the other party in such written and marked form within thirty (30)
days immediately following its oral disclosure; and further provided, that
information and data shall not be deemed to be Confidential Information
hereunder if:

          (a)  it is available to the public at the time of disclosure to the
receiving party, or thereafter becomes available to the public through no fault
of the receiving party, but in such latter event only as of such later date;

          (b)  it is independently made available to the receiving party by a
third party without restrictions on disclosure; or

          (c)  it is known to the receiving party before disclosure to the
receiving party by the disclosing party or developed by the receiving party
without reference to any Confidential Information of the disclosing party.

     Customer lists of Sales Agent and Memry shall, subject to the exceptions in
clauses (a) through (c) above and the immediately following sentence, be deemed
Confidential Information under this Agreement. The names of and information
regarding customers that Memry is selling Products to through Sales Agent, but
that Memry turned over to, or brought to the attention of, Sales Agent (i.e.,
customers with whom the relationship regarding Products was not formed entirely
by the independent actions of Sales Agent) shall, subject to the exceptions in
clauses (a) through (c) above, be deemed Confidential Information of Memry under
this Agreement.

          "Dental Market" means orthodontic and dental wire and other products,
           -------------
devices and components sold specifically to dentists and orthodontists.

          "Fiscal Year" means (i) the period commencing on the date hereof and
           -----------
ending on June 30, 2000, and (ii) any July 1 through June 30 period thereafter.

          "GAAP" means United States generally accepted accounting principles as
           ----
in effect on the date hereof, applied on a basis consistent with the preparation
of Memry's historical financial statements.

          "Inventions" means all discoveries, know-how, inventions, developments
           ----------
and improvements, whether patentable or not.

          "License Agreement" means the License Agreement, dated June 28, 1996,
           -----------------
as amended, between Sales Agent and Memry.

          "Market" means the commercial and industrial market, the consumer
           ------
market, the Dental Market and all other markets; provided, however, that the
term "Market" specifically excludes the Medical Market.

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<PAGE>

          "Medical Market" means the medical, medical products and medical
           --------------
devices and components markets (but specifically excludes the Dental Market).

          "Net Sales" means gross sales of the Products in the Market in the
           ---------
Territory during the Term billed and shipped by or on behalf of Memry or its
Subsidiaries and Affiliates, less competitive discounts actually allowed (other
than advertising allowances or fees or commissions to salesmen or sales
representatives) and returns, and shall not include billed taxes and customs
duties paid by Memry, freight and transit insurance or any sale to Memry's
employees for any reason other than resale or distribution.  Net Sales shall,
except as specifically provided in the next sentence, include sales by Memry to
the Sales Agent and its Subsidiaries and Affiliates, but shall not include sales
(i) between Memry and its Subsidiaries or Affiliates (but, as provided above,
sales by a Subsidiary or Affiliate of the subject Product to a third party shall
be included), and (ii) by Memry or its Subsidiaries and Affiliates to a third
party for the purpose of the third party adding value to the same and reselling
it to Memry or its Subsidiaries and Affiliates. Notwithstanding anything in the
immediately prior sentence to the contrary, Net Sales shall not include sales of
antenna wire by Memry to the Sales Agent and its Subsidiaries and Affiliates.
Subject to the above, commissions shall be paid on all Net Sales of Products
into the Market in the Territory recorded as sales by Memry or its Subsidiaries
and Affiliates under GAAP in their consolidated financial statements.

          "Products" shall mean all nickel titanium products manufactured and/or
           --------
sold by Memry or its Subsidiaries and Affiliates; provided, however, that the
term "Products" shall not include Tinel  Lock(R) Products, which are covered by
the Tinel-Lock Supply Agreement between the parties and are not subject hereto.

          "Territory" means the entire world; provided, however, that the
           ---------
Territory does not include either North Korea or South Korea.

          "Tinel-Lock(R) Products" shall mean products using any nickel titanium
           ----------------------
alloy for the termination of electrical/electronic braid in connector or
interconnect applications. Although this is typically a ring of Alloy 'X' (heat-
to-shrink) used to compress an overall cable shield onto a connector adapter,
other covered applications include, without limitation:

          (a)  wire, braid strap and other electrical grounding methods;

          (b)  metallic or non-metallic braid and straps used for mechanical
attachment of electrical/electronic or fiber optic cables and interconnection.

          "Tinel-Lock Supply Agreement" shall mean the Amended and Restated
           ---------------------------
Tinel-Lock Supply Agreement between the parties, as amended from time to time.

Various other defined terms used herein are defined throughout this Agreement.

     2.   Sales Agency.
          ------------

          (a)  Memry hereby appoints Sales Agent (acting on its own behalf and
through its Subsidiaries and Affiliates) to be its exclusive sales agent for the
Products in the Market in the Territory for the purpose of arranging and
assisting in sales by Memry of the Products in the Market in the

                                      -3-
<PAGE>

Territory as provided herein. Sales Agent hereby accepts such appointment. Sales
Agent shall not appoint any subagent, representative or distributor without
obtaining the prior written consent of Memry, which consent shall not be
unreasonably withheld.

          (b)  Sales Agent shall have no authority, without the written consent
of Memry, to bind Memry to any contract, representation, understanding, act, or
deed concerning Memry or any Products covered by this Agreement. The
relationship between Memry and Sales Agent created hereby is solely that of
independent parties, and this Agreement shall not be deemed to establish a joint
venture or partnership. Neither party shall have any right to, or shall,
exercise any supervision or direction over the other party or any of its
employees. Sales Agent shall make no warranties or representations concerning
the Products unless such warranty or representation is authorized in writing by
Memry. Sales Agent shall make no representations concerning prices, terms of
delivery, terms of payment, or conditions of sales, except to the extent such
representations are authorized in writing by Memry.

          (c)  Sales Agent shall conduct business solely in its own name and not
that of Memry; provided, however, that Sales Agent shall be able to use Memry's
name in connection with the sale of Products in any manner in which Memry has
given its prior approval (not to be unreasonably withheld).

          (d)  During the Term Sales Agent shall not, unless Memry and Sales
Agent agree in advance in writing, engage, either directly or indirectly, in the
manufacture, production, or sale of goods that are similar to or competitive
with the Products, except (i) as sales agent hereunder, (ii) pursuant to Section
9 below, (iii) with respect to products manufactured from Products purchased
from Memry if Memry consents to Sales Agent's manufacture, production or sale of
at the time that it sells such Products to Sales Agent (or its Subsidiaries or
Affiliates), (iv) Tinel-Lock Products, or (v) extruded antenna wire.

          (e)  During the Term Sales Agent shall:

               (i)   continuously use reasonable efforts to promote the sale of
the Products in the Markets and the Territory at its own cost, through
distribution of Memry's literature, pamphlets, catalogs, samples and other
merchandising aids to the Sales Agent's actual and prospective customers for the
Products, and maintain customer relations with customers in the Markets, and
refrain from acts that could reasonably be expected to be detrimental to the
interests of Memry;

               (ii)  maintain at all times and at its own cost a sales
organization which Memry determines, in its reasonable discretion, is capable of
promoting and selling the Products into the Markets within the Territory; and

               (iii) not knowingly arrange for the sale or distribution of the
Products outside the Markets, or for resale outside the Territory.

          (f)  During the Term the Sales Agent shall, not later than the first
day of each calendar quarter, provide Memry with a non-binding month-by-month
forecast for each actual and anticipated customer for each of the next twelve
(12) months.

                                      -4-
<PAGE>

          (g)  During the Term, the Sales Agent shall (i) maintain for its sales
force a sales incentive plan based on sales order value which provides members
of the Sales Agent's sales force with equal financial incentives with respect to
the sale of Memry's Products and Sales Agent's or other products.

     3.   Exclusivity.  Sales Agent shall be the exclusive sales agent, seller
          -----------
or distributor in the Markets in the Territory for Products during the term
hereof (provided, however, that the Sales Agent shall not be the exclusive
agent, seller or distributor for (i) any specific Product or Products being sold
to a particular customer with respect to which Sales Agent exercises its
remedies pursuant to Section 9(b) below and (ii) extruded antenna wire). In the
event that sales of Products are made within the Market in the Territory during
the Term, whether through Sales Agent's efforts, the efforts of Memry and/or its
subsidiaries and Affiliates or otherwise, but specifically excluding sales not
arranged by Sales Agent of the type described in the parenthetical proviso of
the first sentence of this Section 3, Sales Agent shall be entitled to a
commission pursuant to the provisions of Section 4 below as if and to the same
extent that such sales had been arranged for by Sales Agent.

     4.   Commissions.
          -----------

          (a)  During the Term, Memry shall pay to Sales Agent for all services
provided or expenses incurred by Sales Agent a commission of ten percent (10%)
of the Net Sales of Products into the Markets in the Territory (except Products
sold by Memry not through the Sales Agent pursuant to the parenthetical clause
in the first sentence of Section 3 above, including antenna wire sold to Sales
Agent and its Subsidiaries and Affiliates). Except as aforesaid, Memry shall pay
such commission to Sales Agent regardless of whether Products were sold by or as
a result of the efforts of the Sales Agent or otherwise. Commissions earned
pursuant to this Section 4(a) shall be due and payable within forty-five (45)
days of the end of the month in which they were earned (i.e., the month in which
the relevant Net Sales occurred). In the event of any rebates, returns or write-
offs incurred by Memry subsequent to a payment made pursuant to this Section
4(a) that would alter the amount of Net Sales for a month for which a commission
has already been paid, Memry shall be entitled to subtract the amount of any
such overpayment made by it from the next (or any subsequent) payment due
hereunder. In the event that, in the course of an audit of Memry's books and
records, adjustments are made thereto that, if made earlier, would have altered
the amount of Net Sales for a month for which a commission has already been
paid, then (i) if such adjustment increases the amount of Net Sales for any such
prior month, Memry shall promptly pay the amount of any such underpayment made
by it to Sales Agent, and (ii) if such adjustment decreases the amount of Net
Sales for any such prior month, Memry shall be entitled to subtract the amount
of any such overpayment made by it from the next (or any subsequent) payment due
hereunder.

          (b)  If, for (i) the period commencing on July 1, 1999 and ending on
June 30, 2000, and (ii) any July 1 through June 30 period during the Term of
this Agreement subsequent thereto, the sum of (x) Memry's Net Sales of Products
within the Market in the Territory for which Sales Agent is entitled to receive
a commission pursuant to Section 4(a) above, plus (y) Memry's sales of antenna
wire directly to Sales Agent (including its Subsidiaries and Affiliates) exceeds
the Target Amount (as set forth below) for such period, then Memry will pay to
Sales Agent within ninety (90) days after the applicable June 30, an additional
commission equal to 2% of such Net Sales (but not sales of antenna wire). The
target amount for each such July 1 through June 30 period is as follows:

                                      -5-
<PAGE>

     Period Ending June 30       Target Amount
     ---------------------       -------------
     2000                        $4,795,416
     2001                        115% of 7/1/99-6/30/00 Fiscal Year's Net Sales
     2002 and                    120% of prior Fiscal Year's Net Sales
     each June 30 thereafter

          (c)  For purposes of determining the amount of Net Sales of Products
within the Market in the Territory during the period commencing on July 1, 1999
for purposes of Section 4(b) above, sales of Products made by Memry to the Sales
Agent as a distributor under the Private Label/Distribution Agreement shall be
disregarded, but sales of Products made to Sales Agent under the Private
Label/Distribution Agreement for its own internal consumption (including,
without limitation, antenna wire used by Sales Agent (and its Subsidiaries and
Affiliates) for manufacturing extruded antenna wire) and sales made by Sales
Agent to third parties in the Market as a distributor under the Private
Label/Distribution Agreement of Products purchased between July 1, 1999 and the
date hereof (specifically excluding extruded antenna wire) shall be counted as
Net Sales for such period. For purposes of determining the amount of Net Sales
of Products within the Market in the Territory during any period for purposes of
Section 4(b) above, sales of Products made by Memry pursuant to Section 4(d)
below shall be counted as Net Sales for the period in which they were made, but
sales made by Memry pursuant to the parenthetical clause in the first sentence
of Section 3 shall be disregarded. The parties hereto agree to cooperate in
making the determination required by this Section 4(c).

          (d)  If Memry makes Back-Logged Products Sales in the Market in the
Territory, Memry shall pay to Sales Agent, in addition to the commissions
described in Sections 4(a) and 4(b) above, an amount equal to the difference
between (x) the amount of Net Sales from such Back-Logged Products Sales, and
(y) the sum of (1) the sales revenue that Memry would have received for such
Back  Logged Products Sales if such Products for the particular customer were
instead sold to Sales Agent pursuant to the Private Label/Distribution Agreement
(assuming for such purpose that said agreement survived the execution and
delivery hereof), and (II) the commission earned by Sales Agent for such Back-
Logged Products Sales pursuant to Section 4(a) above. Commissions earned
pursuant to this Section 4(d) shall be calculated and paid in accordance with
the provisions of all but the first sentence of Section 4(a) above.

     5.   Relationship Manager/Support and Service. (a) During the Term, the
          ----------------------------------------
parties shall each designate one (1) relationship manager who shall be
responsible for managing the relationship between Memry and Sales Agent
("Relationship Manager"). The Relationship Manager shall initially be John
Payne, for Memry, and Janeann Avantz for Sales Agent. The Relationship Managers
shall confer on a regular basis.

          (b)  During the Term, Memry shall make available to Sales Agent at no
cost, at Memry's locations, at Sales Agent's reasonable request, reasonable
engineering support for customer strategic applications.

          (c)  During the Term, Memry shall make its plants available, upon
reasonable notice and at a reasonable time, to Sales Agent for the purpose of
conducting tours for Sales Agent's customers; provided, however, that such tours
may be restricted by Memry as necessary to protect its confidential and/or
proprietary information.

                                      -6-
<PAGE>

     6.   Terms and Conditions of Sales.
          -----------------------------

          (a)  All sales of Products made by Memry to customers within the
Market in the Territory shall be made on such terms and conditions (including,
without limitation, as to pricing, payment terms, delivery, packaging
requirements, warranties, returns, insurance, etc.) as Memry and such customer
shall negotiate in their sole discretion. Sales Agent shall have no rights
whatsoever to receive a commission with respect to any sales of Products that it
may have been able to arrange for but for which no Net Sales occurred because
Memry and such customers, for whatever reason, were unable to reach terms for
purchases and sales of Products.

          (b)  Notwithstanding anything in Section 6(a) to the contrary, Memry
agrees to cooperate with the Sales Agent in making its requirements for prices
and other terms and conditions of sales of Products by Memry within the Market
in the Territory known to Sales Agent in advance so that Sales Agent can
maximize Net Sales and commissions hereunder.

          (c)  Sales of Products by Memry to Sales Agent (and its Affiliates) as
principal shall be on such terms and conditions as Memry and the Sales Agent
shall agree at such time.

     7.   Term and Termination.
          --------------------

          (a)  The initial term of this Agreement shall be the period commencing
on the date hereof and ending on June 30, 2004. Thereafter, the term of this
Agreement shall be automatically renewed for an unlimited number of successive
one (1) year renewal terms; provided, however, that either party hereto may
prevent such automatic renewal by notifying the other party in writing of its
desire not to renew this Agreement at least twelve (12) months prior to the
expiration of the initial term or any renewal term hereof. Such initial term, as
so extended from time to time or earlier terminated pursuant to Section 7(b)
below, is referred to from to time to time as the "Term."

          (b)  The Term of this Agreement may be terminated at any time during
the Term as follows:

               (1)  by either party following thirty (30) days notice that the
          other party is in breach of any of its material obligations under this
          Agreement and a failure of the breaching party to cure the breach
          within the thirty (30) day period, unless the breach is not capable of
          being cured in which case this Agreement shall terminate immediately
          following notice. Nothing contained in this paragraph shall in any way
          limit a party's right to terminate this Agreement immediately upon
          notice as provided in clause (2) of this Section 7(b) below. If either
          party fails to keep or perform any of its material obligations
          hereunder and such default continues for a period of thirty (30) days
          after the defaulting party has been notified of the default by the
          other party, then the non defaulting party may also suspend its
          performance under this Agreement without terminating this Agreement
          forthwith upon written notice to the other party until such time as
          the default has been cured. However, a non-defaulting party who has
          suspended performance pursuant to this clause (1) of Section 7(b)
          shall not be precluded from terminating the Agreement pursuant to any
          other clauses of this Section 7(b), or from pursuing its other lawful
          rights, in the event that the defaulting party does not cure the
          default prior to such termination.

                                      -7-
<PAGE>

               (2)  by either party immediately (i) if any proceeding in
          bankruptcy, reorganization or arrangement for the appointment of a
          receiver or trustee to take possession of the other party's assets or
          any other proceeding under any law for relief from creditors shall be
          instituted by or against the other party; or (ii) if the other party
          shall make an assignment for the benefit of its creditors. Each party
          shall immediately give written notice to the other party of the
          occurrence of any event of the type described in this Section 7(b)(2).

               (3)  by Sales Agent, if Memry's inability or unwillingness to
          supply as defined in Section 9 of this Agreement continues for more
          than ninety (90) days,

               (4)  by Memry, if (i) Sales Agent does not earn the extra
          commission described in Section 4(b) above with respect to any period
          described therein, or (ii) in any consecutive two-quarter period of
          any Fiscal Year, Net Sales of Products within the Markets in the
          Territory is less than 37.5% of the amount necessary for Sales Agent
          to earn its extra commission pursuant to said Section 4(b); provided,
          however, that Memry may not terminate pursuant to this clause (ii) if,
          in such consecutive two-quarter period, both (x) less than 20% of the
          sales prospects (by anticipated sales volume) brought to Memry by
          Sales Agent did not result in sales due to Memry being unwilling or
          unable to sell Products at a price acceptable to Sales Agent's
          customers, and (y) at least 90% of the Products sold by Memry to Sales
          Agent's customers were shipped by their initial committed ship dates,
          or (iii) if any forecast given by Sales Agent to Memry pursuant to
          Section 2(f) above at the start of a Fiscal Year does not project
          sufficient sales for such Fiscal Year to equal or exceed the Target
          Amount (determined in accordance with Section 4(b)) for such Fiscal
          Year; or

               (5)  by either party, effective upon the close of business on
          June 30 of any year, upon at least one full year's prior written
          notice.

          (c)  Upon termination of the Term of this Agreement, Sales Agent will
remain entitled to receive (i) any commission earned prior to such termination
pursuant to Sections 4(a) and 4(b) above, and (ii) any commission earned
pursuant to Section 4(d) above either before or after the termination of the
Term upon the occurrence of Back-Logged Products Sales. In addition,
notwithstanding anything to the contrary set forth in this Agreement, upon (i)
the termination of the Term of this Agreement for any reason, or (ii) Memry's
inability or unwillingness to supply as defined in Section 9 of this Agreement,
Sales Agent shall be entitled to exercise its rights under the License
Agreement.

     8.   Intellectual Property.
          ---------------------

          (a)  Sales Agent hereby acknowledges Memry's ownership of all right,
title and interest in Memry's trademarks and tradenames which are used to sell
the Products. Sales Agent further acknowledges that it shall acquire no interest
therein by virtue of this Agreement or the performance by either party of their
respective duties and obligations hereunder.

                                      -8-
<PAGE>

          (b)  Memry hereby grants Sales Agent a license to use any Memry
produced literature, data sheets or other documents relating to Products in
connection with the marketing or sale of Products within the Market in the
Territory during the Term pursuant to this Agreement.

     9.   Interruption of, Inability or Unwillingness to Supply. (a) Non-Supply.
          ----------------------------------------------------       ----------
In addition to other remedies available pursuant to this Agreement or in law or
equity, in the event Memry is unable or unwilling to supply Products pursuant to
Memry's standard terms and conditions in effect from time to time (including
pricing) to potential customers identified by Sales Agent within the Market in
the Territory for any period longer than thirty (30) days, which inability or
unwillingness materially interrupts the continuous supply of Products to Memry's
customers procured by Sales Agent for Products pursuant to the terms of this
Agreement, Sales Agent shall be entitled to exercise its rights under the
License Agreement until such time as Memry is again willing and able to supply
Products within the Market in the Territory as aforesaid. The exclusivity
requirements of Section 2(d) above shall also be suspended during this period.
Sales Agent shall, not later than ten (10) days after each such sale of Products
in the Market in the Territory by Sales Agent, notify Memry of (i) the sale so
consummated (including the amount sold, the price and the customer), and (ii)
the source or sources (whether internal or from a third party) of the Products
so sold.

          (b)  Delayed Deliveries. In addition to other remedies available
               ------------------
pursuant to the Agreement or in law or equity, should repeated, unexcused,
delayed deliveries of more than three percent (3%) of an ordered quantity of a
particular Product to a particular customer occur more than twelve (12) times
over a calendar year period with an average delay of ten (10) business days or
one (1) single delayed delivery exceeding one (1) month, then Sales Agent shall
be entitled to exercise its rights under the License Agreement with respect to
sales to the particular customer of the particular delayed Product or Products,
and the exclusivity required for purchases by Section 2(d) above shall not apply
to such particular Product or Products manufactured, produced and/or sold to
such particular customer. Exercise of rights under the License Agreement does
not by itself constitute a termination of this Agreement.

          (c)  Notification. Sales Agent shall notify Memry within two (2)
               ------------
business days of any exercise of its rights under the License Agreement pursuant
to Section 9(a) above. Sales Agent shall notify Memry within two (2) business
days of any exercise of its rights pursuant to Section 9(b), such notice to
specify which Product or Products and customer(s) are effected. Sales Agent
shall also notify Memry within two (2) business days of any purchases by it of
Products from any third party for the purpose of producing extruded antenna
wire, such notice to specify the supplier of the Products so purchased, the
quantity of Products so purchased and intended customer(s) therefor.

     10.  Confidential Information.
          ------------------------

          (a)  The receiving party shall, from the date of disclosure of any
Confidential Information and for a period of ten (10) years thereafter, use the
information solely for its own internal use consistent with this Agreement, not
disclose the information to any person or persons outside its organization, and
disclose the information to any person or persons within its organization only
on a "need to know" basis.

          (b)  If either party is compelled to make a disclosure of any
Confidential Information of the other party by law or government rule or
regulation:

                                      -9-
<PAGE>

               (i)   such disclosure shall be limited to the extent required;
          and

               (ii)  the other party shall have an opportunity to review the
          information at least thirty (30) days before disclosure; and

               (iii) the receiving party shall cooperate in any application by
          the disclosing party for applicable protective orders.

Notwithstanding the foregoing, such review shall not make the reviewing party
responsible for the content of the disclosure.

     11.  Payment to Memry Europe's Distributor. In the event that Memry (or a
          -------------------------------------
subsidiary) pays money to a current distributor or sales agent of Memry Europe
N.V. pursuant to an existing agreement between such distributor or sales agent
and Memry Europe N.V. in order to terminate the rights of such distributor or
sales agent to sell Products in the Market in the Territory, then, upon the
presentation by Memry to Sales Agent of evidence of such payment, Memry may
deduct from any future payment or payments due Sales Agent hereunder the amount
of any such payments made to distributors and sales agent; provided, however,
that the aggregate amount of any such deductions under this Section 11 shall be
$25,000.

     12.  Amendments to Other Agreements.
          ------------------------------

          (a)  License Agreement. The License Agreement is hereby amended as
follows:

               (i)   All references to Raychem Corporation set forth therein are
          hereby amended to be references to Tyco Electronics Corporation;

               (ii)  Section 1.11 is hereby amended and restated to provide, in
          its entirety, as follows: "1.11 "Private Label Agreement" shall mean
          the Sales Agency Agreement, dated January 20, 2000, between Licensor
          and Licensee."

               (iii) Section 2.2 is hereby amended and restated to provide, in
          its entirety, as follows: "2.2 Licensee shall have the right to
          practice under the License upon the occurrence of (i) the termination
          of the Private Label Agreement, or (ii) the occurrence and
          continuation of the events specified in Section 9 of the Private Label
          Agreement."

               (iv)  Section 3.1 is hereby amended by deleting the phrase "or
          (iii)" therein.

               (v)   All defined terms in the "Definitions" section that are
          defined by reference to the Private Label Agreement shall,
          notwithstanding Section 12(a)(ii) above (but without limiting the
          scope of Section 12(a)(ii) above), retain their prior definitions
          (i.e. - shall be defined by reference to the February 19, 1997 Private
          Label/Distribution Agreement and not this Sales Agency Agreement).

          (b)  Tinel-Lock Lease Agreement. The Tinel-Lock(R) Lease Agreement,
               --------------------------
dated June 28, 1996, between Memry and Sales Agent is hereby amended as follows:
(i) by amending Section 13.1

                                      -10-
<PAGE>

thereof by substituting "June 30, 2004" for "June 30, 2001" therein; and (ii) by
amending all references therein to Raychem Corporation to references to Tyco
Electronics Corporation.

          (c)  Tinel-Lock Supply Agreement. The Tinel-Lock(R) Supply Agreement,
               ---------------------------
dated as of June 28, 1996, between Memry and Sales Agent is hereby amended as
follows: (i) Section E.1. is hereby amended by substituting "June 30, 2004" for
"June 30, 2001" therein; (ii) by deleting Section E.2.b. in its entirety and
renaming Sections E.2.c. and E.2.d., respectively, as Sections E.2.b. and E.2.c;
and (iii) by amending all references therein to Raychem Corporation to
references to Tyco Electronics Corporation.

          (d)  Private Label/Distribution Agreement. Effective upon the
               ------------------------------------
execution and delivery hereof, the Private Label/Distribution Agreement is
terminated (and, for purposes of clarification, any and all open and accepted
purchase orders thereunder are likewise terminated); provided, however, that
said termination shall not effect the rights and remedies of the parties
thereunder with respect to products shipped by Memry to Sales Agent thereunder
prior to such termination.

     13.  Miscellaneous.
          -------------

          (a)  Entire Agreement. This Agreement constitutes the entire Agreement
               ----------------
between Memry and Sales Agent with respect to Memry's retention of Sales Agent
as the exclusive sales agent for the Products within the Market in the
Territory. All prior or contemporaneous agreements, whether written or oral, and
all proposals, understandings and communications between or involving Sales
Agent and Memry relating thereto are hereby canceled and superseded. This
Agreement may be amended only by a written instrument executed by both parties.

          (b)  Amendments and Waivers. No amendment of any provision of this
               ----------------------
Agreement shall be valid unless the same shall be in writing and signed by Memry
and the Sales Agent. No waiver by either Party of any default,
misrepresentation, or breach of warranty or covenant hereunder, whether
intentional or not, shall be deemed to extend to any prior or subsequent
default, misrepresentation, or breach of warranty or covenant hereunder or
affect in any way any rights arising by virtue of any prior or subsequent such
occurrence.

          (c)  Severability. If any provision of this Agreement is held to be
               ------------
unenforceable for any reason, it shall be adjusted rather than voided, if
possible, in order to achieve the intent of the parties to the extent possible.
In any event, all other provisions of this Agreement shall be deemed valid and
enforceable to the full extent permitted by applicable law.

          (d)  Succession and Assignment. This Agreement shall be binding upon
               -------------------------
and inure to the benefit of the parties named herein and their respective
successors and assigns.

          (e)  Force Majeure. Neither Memry nor Sales Agent shall be liable for
               -------------
its failure to perform its obligations under this Agreement due to events beyond
its reasonable control including, but not limited to, strikes, riots, wars,
fire, acts of God, labor unrest, inability to obtain raw materials and acts in
compliance with applicable law, regulation, or order (whether valid or invalid)
of any governmental body.

                                      -11-
<PAGE>

          (f)  Applicable Law. This Agreement and all transactions hereunder
               --------------
shall be governed by and construed according to the laws of the State of
California, excluding the choice of law rules thereof.

          (g)  Survival. Sections 8, 10 and 12 hereof shall survive termination
               --------
of this Agreement

          (h)  Notices. All notices, requests, demands, claims and other
               -------
communications hereunder will be in writing. Any notice, request, demand, claim,
or other communication hereunder shall be deemed duly given three (3) Business
Days after being deposited in the U.S. mails, if sent by registered or certified
mail, return receipt requested, postage prepaid, and addressed to the intended
recipient as set forth below:

<TABLE>
     <S>                                     <C>
     If to the Sales Agent:                  Copy (which shall not constitute notice) to:

     Tyco Electronics Corporation            Tyco Electronics Corporation
     300 Constitution Drive                  300 Constitution Drive
     Menlo Park, California 94025            Menlo Park, California 94025-1164
     Telecopier:                             Attn:  Legal Department MS 120/8502
                                             Telecopier: (415) 361-4305

     If to Memry:                            Copy (which shall not constitute notice) to:

     Memry Corporation                       Finn Dixon & Herling LLP
     57 Commerce Drive                       One Landmark Square, Suite 11400
     Brookfield, Connecticut 06804           Stamford, CT 06901-2689
     Attn: Mr. Robert J. Thatcher            Attn:  David I. Albin, Esq.
     Telecopier: (203) 740-2503              Telecopier: (203) 325-5777
</TABLE>

     Either party may send any notice, request, demand, claim or other
communication hereunder to the intended recipient at the address set forth above
using any other means (including personal delivery, expedited courier, messenger
service, telecopier, telex, ordinary mail, or electronic mail), but no such
notice, request, demand, claim, or other communication shall be deemed to have
been duly given unless and until it actually is received by the intended
recipient. Either party may change the address to which notices, requests,
demands, claims, and other communications hereunder are to be delivered by
giving the other party notice in the manner herein set forth.

          (j)  Attorneys' Fees. If legal action is commenced to enforce the
               ---------------
performance of any part of this Agreement, the prevailing party shall be paid by
the other party reasonable attorneys' fees and expenses.

          (k)  Counterparts. This Agreement may be executed in counterparts,
               ------------
each of which shall be deemed an original, but which together shall constitute
one and the same instrument.

          (l)  Headings. The headings of the Sections of this Agreement are for
               --------
convenience and shall not be used to interpret this Agreement.

                                      -12-
<PAGE>

          (m)  Remedies. Remedies provided herein are not exclusive. Delay in
               --------
enforcing any right or remedy as a result of any breach hereof shall not be
deemed a waiver of that or any subsequent breach.

          (n)  Compliance with Laws. Sales Agent shall comply with all
               --------------------
applicable laws, including federal employment, equal opportunity, affirmative
action and environmental laws in the operation of its business and shall provide
Memry with any information required by any federal, state or local statute or
regulation.

                                      -13-
<PAGE>

     IN WITNESS WHEREOF, the parties have caused this Agreement to be executed
by their duly authorized representatives and it shall be effective as of the
date first above written.

MEMRY CORPORATION                            TYCO ELECTRONICS CORPORATION

By  /s/ Robert J. Thatcher                   By: /s/ James Witham
    -------------------------------             -----------------------------
    Name:  Robert Thatcher                      Name:  James Witham
    Title: President                            Title: Vice President

                                      -14-
<PAGE>

Schedule A
----------

                             Back-Logged Products

                                      -15-

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