Document:

Exhibit 10.7

Exhibit 10.7

[*] = CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS.

SECOND AMENDMENT TO DISTRIBUTION AGREEMENT

This SECOND AMENDMENT TO DISTRIBUTION AGREEMENT (this “Amendment”) is made and entered into as June
13, 2007 (the “Effective Amendment Date”) by and between Century Medical, Inc., a Japanese
corporation with its principal place of business located at 1-6-4 Ohsaki, Shinagawa-Ku, Tokyo,
141-8588, Japan (“DISTRIBUTOR”), and Cardica, Inc., a Delaware corporation with its principal place
of business located at 900 Saginaw Drive, Redwood City, California 94063 USA (“COMPANY”).

R E C I T A L S

WHEREAS, DISTRIBUTOR and COMPANY have entered into that certain Distribution Agreement
effective as of June 16, 2003 (the “Distribution Agreement”), in which COMPANY appointed
DISTRIBUTOR as its exclusive distributor of the Products within the Territory;

WHEREAS, DISTRIBUTOR and COMPANY have amended that certain Distribution Agreement effective as
of March 30, 2007 (the “First Amendment to Distribution Agreement”); and

WHEREAS, in connection therewith, DISTRIBUTOR and COMPANY have agreed to amend certain
provisions contained in the Distribution Agreement and First Amendment to Distribution Agreement;

NOW, THEREFORE, in consideration of the mutual covenants and undertakings contained herein,
and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, and subject to and on the terms and conditions herein set forth, the parties hereto
agree as follows:

	A.	 	Definitions. Unless otherwise defined herein, all capitalized terms in this Amendment shall
have the respective meanings ascribed to them in the Distribution Agreement.

	B.	 	Amendment to Section 1.3. Section 1.3 of the Distribution Agreement is hereby deleted in its
entirety and replaced with the following provision:

““First Commercial Sale” shall mean the first sale of the Products with the
intended maximum shelf life of twelve (12) months or more by DISTRIBUTOR to
a third party in the Territory with all medical device approvals required to
market and sell such Product (“Shonin”) and all facility accreditation
approvals from the Japanese Ministry of Health, Labour and Welfare
(“MHLW”).”

 

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	C.	 	Amendment to Section 3. Section 3 of the Distribution Agreement is hereby deleted in its
entirety and replaced with the following provision:

“This Agreement and rights conferred on DISTRIBUTOR hereunder shall come
into effect on the Effective Date. The term of this Agreement shall expire
on July 31, 2014.”

	D.	 	Amendment to Section 8.6. Section 8.6 of the Distribution Agreement is hereby amended to
remove all references to the “Distal Device” in this Section.

	E.	 	Schedule 1, Products and Prices. Schedule 1 of the Distribution Agreement, Products and
Prices, is hereby deleted and replaced with a new Schedule 1, attached hereto.

	F.	 	Entire Agreement. Except as specifically modified or amended hereby, the Distribution
Agreement and the First Amendment to Distribution Agreement shall remain in full force and
effect and, as modified or amended, is hereby ratified, confirmed and approved. This Second
Amendment, the First Amendment and the Distribution Agreement constitute the entire and final
agreement between the Parties on the subject matter hereof and supersede any and all prior
oral or written agreements or discussions on the subject matter hereof. This Amendment and
the Distribution Agreement may not be modified in any respect except in a writing which states
the modification and is signed by both Parties hereto.

	G.	 	Conflicts. This Amendment shall be governed by all the terms and conditions of the
Distribution Agreement. In the event of any conflict between the terms of the Distribution
Agreement and the terms of this Amendment, the terms of this Amendment shall control.

[Remainder of this page intentionally left blank]

 

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IN WITNESS WHEREOF, the parties have caused this Amendment to be executed as of the Effective
Amendment Date.

COMPANY:

CARDICA, INC.

	 	 	 
	/s/ Bernard Hausen
 

	 	 
	Name: Bernard Hausen
	 	 
	Title: President and CEO
	 	 

DISTRIBUTOR:

CENTURY MEDICAL, INC.

	 	 	 
	/s/ Toshio Konishi
 

	 	 
	Name: Toshio Konishi 

Title: President & CEO
	 	 

 

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Schedule 1. Products and Prices

	•	 	$[*] FCA per Pas-Port, Proximal Device.

In accordance with Section 8.1 of the Distribution Agreement, as amended, this price shall be valid until June 17, 2010.

If the selling price to DISTRIBUTOR exceeds [*]% of COMPANY’s average U.S. selling price, then
DISTRIBUTOR shall have the right to discuss pricing matters with COMPANY. COMPANY shall reasonably
disclose its average U.S. selling price to DISTRIBUTOR upon written request by DISTRIBUTOR.

 

4Exhibit 10.8

Exhibit 10.8

AMENDMENT NO. 3 TO DISTRIBUTION AGREEMENT BETWEEN

CARDICA, INC. AND CENTURY MEDICAL, INC. (“DISTRIBUTOR”)

In accordance with Paragraph 14.11 of the Distribution Agreement between Cardica (“Company”)
and Distributor dated June 16, 2003, in consideration of the ongoing responsibilities of both
Company and Distributor under the Distribution Agreement, Company and Distributor agree as follows:

	A.	 	Amendment to Section 4.1(ix). Section 4.1(ix) of the Distribution Agreement is hereby
deleted in its entirety and replaced with the following provision:

“4.1 (ix)(a) Distributor shall translate into the local languages of the Territory,
at its own expense, any promotional materials, advertising or marketing information
(“Marketing Materials”) supplied at the discretion of Company which Distributor
determines may be useful in the marketing of Products. Distributor shall translate
the Marketing Materials as is, and shall not make claims regarding the use of the
Products that are not present in the English language materials. Distributor will
forward to Company a copy of all translated Marketing Materials. Any revision to
such translated Marketing Materials must be sent to Company within 30 days of its
release.

4.1(ix)(b) Distributor shall translate labeling, including instructions for use, for
the Products into the official languages of the territory. Distributor will provide
Company such translated labeling within 5 days after such translation is complete,
and before distributing Products bearing such labeling. Distributor shall not
distribute Products bearing translated labeling before receiving approval from
Company, which shall not be unreasonably withheld. Based upon the fact that Company
and Distributor have been necessarily and adequately communicated regarding
translations and amendments of instructions for use for the Products, both Company
and Distributor hereby recognize that current translation of instructions for use
for the Products under use by the Distributor in Japan is considered approved one by
the Company.

4.1(ix)(c) Exemption of the Company approval in 4.1(ix)(b).

With regard to the translation of instructions for use for the Products, Distributor
shall amend the instructions for use as necessary in accordance with the Japanese
Pharmaceutical Affairs Law and its related ordinances or guidance issued by the
MHLW. Distributor shall also amend the translation as necessary whenever requested
by the MHLW or PMDA. In addition, Distributor can amend the translation as a mean of
preventive actions for adverse events or device malfunctions. In any major
amendments (except minor amendments) in the above cases, Distributor will provide
Company such translated instructions for use, for review by Company.

 

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B. Amendment to Section 5.1(vii). The following provision is added to Section 5.1(vii):

“(e) Company shall review labeling translated by Distributor under Section
4.1(ix)(b) and (c), including instructions for use, within 10 days of receipt.”

	 	 	 	 	 	 	 	 	 
	 	 	Cardica, Inc.:	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Chris W. Holscher
	 	Date:
	 	January 24, 2008
	 

	 	 	 	 
	 	 	 	 

	 	 	 	 	 	 	 	 	 
	 	 	Century Medical, Inc.:	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Toshio Konishi
	 	Date:
	 	January 25, 2008
	 

	 	 	 	 
	 	 	 	 

 

2Exhibit 10.16

Exhibit 10.16

Non-Employee Director Compensation

Cash compensation for non-employee directors is as follows:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Annual	 	 	Board Meeting Attended	 	 	Committee Meeting Attended	 
	Position	 	Retainer*	 	 	In Person	 	 	By Telephone	 	 	In Person	 	 	By Telephone	 
	Board Chairman
	 	$	40,000	 	 	$	2,500	 	 	$	700	 	 	$	650	 	 	$	500	 
	Audit Committee Chairman
	 	$	30,000	 	 	$	2,000	 	 	$	500	 	 	$	650	 	 	$	500	 
	Compensation Committee Chairman
	 	$	27,500	 	 	$	2,000	 	 	$	500	 	 	$	650	 	 	$	500	 
	Nominating Committee Chairman
	 	$	25,000	 	 	$	2,000	 	 	$	500	 	 	$	650	 	 	$	500	 
	Board Member (other than Board or
Committee Chairs)
	 	$	20,000	 	 	$	2,000	 	 	$	500	 	 	$	650	 	 	$	500	 

* Each non-employee director is entitled to only one annual retainer fee.

Equity compensation for non-employee directors is as follows:

Annual Grants. Each year, immediately following Cardica, Inc.’s Annual Meeting of
Stockholders, each non-employee director will be granted an option to purchase 12,200 shares of the
Company’s common stock. Each such option will vest monthly over the ensuing year.

Initial Grants. Automatically upon becoming a director, any new non-employee director
shall be granted an option to purchase 36,100 shares of Cardica, Inc.’s common stock, vesting
monthly over three years.

The foregoing compensation for non-employee directors was approved by Cardica, Inc.’s board of
directors on October 10, 2009, effective immediately.

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