Document:

<PAGE>
                                                                    Exhibit 10.6

                                    AVENANT

      au bail a loyer pour locaux commerciaux du 10 janvier 2001 entre le
                bailleur CHARMAGNY SA et le locataire MICRUS SA

Il a ete convenu que le locataire ne paye un loyer que pour l'espace utilise et
celui-ci, ainsi que le loyer et la garantie correspondants, sont precises par
avenants.

L'espace utilise des le 10 janvier 2001 comprenait:

--   Au rez-de-chaussee:      m(2)      ___________

--   Au premier etage:        m(2)      ___________

--   Au deuxieme etage:       m(2)          139

Des le 5 mai 2001, l'espace supplementaire est de :

--   Au rez-de-chaussee:      m(2)      ___________

--   Au premier etage:        m(2)      ___________

--   Au deuxieme etage:       m(2)      636, soit, au total, 775 m(2)

Le prix du loyer a ete fixe a CHF 140--/m(2)/ hors taxes/ an. Le prix total du
loyer est, desormais, de CHF 108'500.--/an/ hors taxes. Le montant payable par
trimestre est donc de CHF 27'125.- hors taxes et le complement a payer, pour le
2e trimestre 2001, de CHF 20'753.05 (loyer trimestriel CHF 27'125.- -5 jours de
mai CHF 1'506.95 - acompte trimestriel deja verse CHF 4'865.-).

Le complement de garantie a payer est de CHF 18'059.90 hors taxes (trois mois
de loyer = CHF 27'125.-).

Montagny, le______________              Crissier, le________________

         Micrus SA                          Charmagny SA

                                                      [LOGO]

                                       /s/ Olivier Ezeghelian   Jean-Luc Lonfat
__________________________             ________________________________________
Beat Merz   Markus Oswald              Olivier Ezeghelian       Jean-Luc Lonfat
<PAGE>
BAIL A LOYER POUR LOCAUX COMMERCIAUX

BAILLEUR             CHARMAGNY SA             LOCATAIRE

Represente par       Olivier EZEGHELIAN

                                              "MICRUS SA"

Situation de l'immeuble :     MONTAGNY-PRESS-YVERDON
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Bail a l'usage de :           Bureaux, habitation, locaux de production
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A l'enseigne de :             MICRUS SA                Etage : rez + 1er + 2eme
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Comprenant :

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Surface approximative :       Charge utile au m(2) :*   Ancien locataire : neuf
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Dependances :

* 500 kg/m(2) au rez
  300 kg/M(2) 1er et 2eme

Entre le bailleur et le locataire prenommes, le present bail est conclu aux
conditions suivantes :

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1. Duree. Le bail                  "15 janvier 2001
   commence a midi le
   et se termine a midi le         15 janvier 2006"
   (minimum 6 ans)
-------------------------------------------------------------------------------

Sauf avis de resiliation donne par l'une ou l'autre des parties, par lettre
chargee et consignee a un office postal suisse au moins une annee a l'avance, le
present bail sera renouvele de plein droit aux memes conditions pour cinq ans et
ainsi de suite de cinq ans en cinq ans.

<PAGE>
2.  LOYER
<Table>
_______________________________________________________________________________
                                        Annuel    Trimestriel    Mensuel
_______________________________________________________________________________
<S>                                   <C>        <C>            <C>
    Loyer net minimum .........................................................
    Acompte de chauffage et eau chaude ........................................
    Autres frais accessoires ..................................................
    .................................... voir dispositions particulieres
    ..................................
    ...........................................................................
                                     __________________________________________
    Total .....................................................................
_______________________________________________________________________________
</Table>

    Le montant ci-dessus est payable trimestriellement a l'avance

    par Ft. sera precise par des avenants au fur et a mesure de la prise de
            possession des locaux

    sans frais en mains du bailleur ou de son representant, mais recevable par
    mois d'avance s'il est acquitte ponctuellement.

    Sur toute prestation echue decoulant du present bail, il est du un interet
    equivalent au taux pratique par la Banque Cantonale Vaudoise pour les
    credits commerciaux sans garantie. Le present bail vaut reconnaissance de
    dette au sens de l'article 82 LP.

3.  GARANTIE

    La garantie, si elle est convenue conformement a l'article 4 des
    Dispositions generales du bail a loyer pour locaux commerciaux, consiste en:

    3 mois de loyer - suivant l'evolution du loyer paye

4.  HAUSSE DE LOYER EN COURS DE BAIL

4a. Clause de variation

    Sans denonciation du present bail, mais moyennant un preavis d'un mois donne
    sous pli recommande avec la formule officielle, le loyer pourra etre modifie
    proportionnellement a la variation de l'indice suisse des prix a la
    consommation (IPC) en prenant pour base l'indice 101,1 a fin 11/2000 connu
    lors de la signature du bail ou convenu entre les parties.

    La variation ne peut etre notifiee qu'une fois par annee en prenant pour
    base l'indice utilise pour la derniere notification.

4b. Hausse de loyer en cas de renovation, de modification ou de prestations
    supplementaires par le bailleur

    Si le bailleur entreprend des travaux de renovation ou de modification, ou
    s'il fournit des prestations supplementaires, le loyer sera augmente de
    maniere a couvrir equitablement les frais d'interets, d'amortissement et
    d'entretien des travaux executes.
<PAGE>
5.  Dispositions particulieres
    voir pages annexees.
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<PAGE>
 6.  Conciliation

     Le bailleur et le locataire peuvent soumettre dans les trente jours, tout
     differend portant sur l'application ou le renouvellement du present bail
     aux commissions paritaires de conciliation instituees, conformement a
     l'accord passe entre l'Union vaudoise des associations commerciales,
     industrielles et des metiers d'une part, la Chambre vaudoise immobiliere
     et la Societe vaudoise des regisseurs d'autre part, et agreees par le
     Conseil d'Etat.

     Les parties demeurent libres d'engager des actions judiciaires ou
     administratives decoulant de la legislation en vigueur, s'il s'agit pour
     elles de respecter un delai legal peremptoire.

     Dans le cas mentionne a l'alinea 2, les parties s'efforcent neanmoins et
     en priorite de parvenir a un accord par l'entremise de la commission de
     conciliation.

 7.  Generalites

     a)  Pour tous les cas non specialement prevus dans le present bail ou dans
         des reglements speciaux, les parties se referent aux Regles et usages
         locatifs.

         Les dispositions du Code federal des obligations s'appliquent dans la
         mesure ou le present bail et ses annexes n'en disposent pas
         valablement autrement.

     b)  L'inobservation, par l'une des parties du bail, de la loi, des Regles
         et usages locatifs et autres reglements qui en font partie integrante
         donne le droit a l'autre partie de resilier le present contrat en tout
         temps, le cas echeant apres la mise en demeure.

     c)  Les parties conviennent d'adopter dans leurs relations la forme ecrite.

     d)  Le present bail annule toute convention anterieure relative aux locaux
         loues, a l'exception de l'etat des lieux.

 8.  Les parties declarent connaitre et accepter les Dispositions generales du
     bail a loyer pour locaux commerciaux et les Regles et usages locatifs
     appliques dans le canton de Vaud (derniere edition) qui font partie
     integrante du bail. Le bail n'est repute conclu qu'une fois revetu de la
     signature des deux parties.

 9.  Les dispositions complementaires pour etablissements publics au sens de la
     loi vaudoise sur les auberges et les debits de boissons font partie
     integrante du present bail lorsque l'exploitation des locaux est soumise a
     l'octroi d'une patente au sens de la loi precitee.

10.  Election de domicile, for

     Pour tous le conflits qui pourraient naitre de l'interpretation et de
     l'application du present contrat, les parties font election de domicile et
     de for au lieu de situation de l'immeuble comprenant le ou les locaux
     commerciaux. S'il a cesse d'exploiter le ou lesdits locaux, le locataire
     declare faire election de domicile au greffe du tribunal du district dans
     lequel se trouve l'immeuble, ou toute notification pourra etre valablement
     faite.

     Ainsi fait en deux exemplaires a: -------------Crissier/Montagny ----------
     ---------------------------- le 15 janvier 2001----------------------------

     Le locataire:                                           Le bailleur/gerant:

     [Signature]

     Annexes: Dispositions generales pour locaux commerciaux
              Regles et usages locatifs du canton de Vaud     [LOGO]

     Bail paritaire UVACIM, CVI, SVR, edition 1991
<PAGE>
                         5.  DISPOSITIONS PARTICULIERES

(font partie integrante du contrat de bail du 15.01.2001 entre Gonset Immeubles
d'Entreprises SA et Micrus SA).

A.   Le prix du loyer de CHF 140--/m(2)/ an comprend

a)   les travaux de finition suivants

     o    revetement des sols jusqu'a concurrence de fr. 60.--/m(2)

     o    les parois de separation des bureaux

     o    l'electricite et la lustrerie de base (neons)

     o    les plafonds

     o    le chauffage central si necessaire au rez

b)   les equipements et fournitures suivants:

     o    les places de parc exterieures

     o    le mazout deja dans la citerne

B.   Les loyers seront calcules a partir du moment ou les travaux de finition,
     imputables au bailleur, seront acheves et les locaux remis au locataire
     pour y faire ses propres amenagements.

C.   Le locataire ne paie de loyer que pour l'espace utilise. Des avenants
     precisent l'espace utilise, la garantie et le loyer correspondants. Le 1er
     etage fait l'objet d'une option jusqu'au 31 decembre 2001. C'est-a-dire
     qu'a cette date le locataire aura fait savoir au bailleur s'il loue,
     ferme, l'etage mentionne ou s'il y renonce.

D.   Le bailleur s'engage a condamner ou a remplacer les portes-fenetres au
     rez-de-chaussee, le long des facades est et sud, pour un prix maximum
     global de CHF 100'000.--(honoraires d'architectes inclus).

E.   Le bailleur fait demonter a ses frais les barrieres qui courent le long
     des facades est et sud.

F.   Au cas ou il souhaiterait agrandir le batiment, le bailleur s'engage a
     proposer en priorite au locataire, les nouveaux locaux. Les loyers de ces
     nouveaux locaux seront calcules a ce moment-la et dependront des couts
     effectifs de construction.

G.   En temps qu'utilisateur unique du batiment, le locataire prend a sa charge
     tous les frais d'entretien et les consommations qui resultent de l'usage
     du batiment. Il les paie directement aux fournisseurs

                                                                 [LOGO]
<PAGE>
                                                                           - 2 -
--------------------------------------------------------------------------------

     Par exemple : entretien des ascenseurs et monte-charges; entretien du
     bruleur (chauffage central) et toutes les autres installations; reparations
     dues a un accident dont le locataire, ses employes ou ses clients sont
     responsables. N.B. Le locataire n'est pas responsable de la tonte du
     gazon.

H.   Si le locataire desire faire une modification ou une renovation, le
     bailleur donnera son consentement dans les meilleurs delais et ne refusera
     de donner ce consentement que si cela est justifie et raisonnable.

I.   NB. Tous les prix mentionnes sont hors taxes (TVA)

                                                  [signature]

<PAGE>
                                    AVENANT

      au bail a loyer pour locaux commerciaux du 15 janvier 2001 entre le
                bailleur CHARMAGNY SA et le locataire MICRUS SA

Il a ete convenu que le locataire ne paie un loyer que pour l'espace utilise et
celui-ci, ainsi que le loyer et la garantie correspondants, sont precises par
avenants.

L'espace utilise des le 15 janvier 2001 comprend :

- Au rez-de-chaussee :             m(2)    -------------

- Au premier etage :               m(2)    -------------

- Au deuxieme etage :              139m(2) de bureaux

Le prix du loyer a ete fixe a CHF 140.--/m(2)/an, hors taxes. Le prix total du
loyer est de CHF 19'460.--/an, hors taxes. Le montant payable par trimestre est
donc de CHF 4'865.- hors taxes, soit de CHF 4'054.15 hors taxes, pour le premier
trimestre 2001.

La garantie a payer est de CHF 4'865.-- hors taxes (trois mois de loyer).

Crissier/Montagny, le 15 janvier 2001

             Micrus SA                                Charmagny SA

            [signature]                                [signature]

J. Todd Debrin       Markus Oswald       Olivier Ezeghelian      Jean-Luc Lonfat<PAGE>

                                                                   EXHIBIT 10.20

                                    AGREEMENT

      This Agreement (the "Agreement"), dated February 28, 2005, (the "Effective
Date") is between the United States Department of Justice, Criminal Division,
Fraud Section (the "Department"), and Micrus Corporation and its Swiss
subsidiary Micrus S.A. (collectively Micrus).

A.    INTRODUCTION

      1.    During the Department's ongoing criminal investigation into
            potential violations of the Foreign Corrupt Practices Act, 15
            U.S.C.Section.78dd-1, et seq., ("FCPA") relating to certain foreign
            sales transactions and attempted transactions conducted by Micrus in
            various countries including the French Republic, the Republic of
            Turkey, the Kingdom of Spain and the Federal Republic of Germany
            (the "Foreign Transactions"), described in APPENDIX A, and any other
            transactions disclosed in writing to the Department, the Department
            has notified Micrus that, in the Department's view, Micrus, acting
            through certain of its officers, employees, agents and salespeople,
            has violated federal criminal law. The Foreign Transactions involved
            sales or attempted sales by Micrus of medical devices known as
            embolic coils to publicly owned and operated hospitals. A
            description of the Foreign Transactions is set forth in APPENDIX A,
            attached hereto and incorporated by reference. APPENDIX B, also
            attached hereto and incorporated by reference, is a non-public
            document that reveals the identities of certain individuals and
            entities involved in the Foreign Transactions.

            In summary, the Department believes that Micrus, through certain of
            its employees, agents or salespeople, corruptly authorized the
            offer, promise to pay and the payment of money and other things of
            value, and did, thereafter, offer, promise to pay and paid money and
            other things of value, to foreign government officials to influence
            them to purchase medical devices from Micrus.

      2.    As set forth in Section C below, Micrus accepts responsibility for
            the conduct of its employees, agents and salespeople as described in
            APPENDIX A. Micrus agrees that APPENDIX A is materially accurate
            and, as more fully addressed in Section C below, Micrus agrees not
            to contradict APPENDIX A. Micrus also acknowledges that from its
            inception through and including August 2004, Micrus did not have an
            FCPA compliance program in place. Micrus does not endorse, ratify,
            or condone improper conduct and, as set forth below, will take steps
            to prevent such conduct from occurring in the future.

      3.    The Department has determined that entry into the Agreement, as
            opposed to institution of a criminal prosecution, is appropriate
            under the circumstances. These circumstances include (a) Micrus'
            voluntary disclosure to the Department of the conduct involved in
            the Foreign Transactions and related conduct, (b)

<PAGE>

            Micrus' prompt disciplinary action respecting the officers and
            employees primarily responsible for the conduct at issue in the
            Foreign Transactions, (c) Micrus' on-going cooperation with the
            Department in the Department's investigation, and (d) the absence of
            any prior FCPA-related or other criminal history at Micrus.

B.    MUTUAL OBLIGATIONS OF MICRUS AND THE DEPARTMENT

      4.    In exchange for the agreement of the Department as set forth in
            paragraph 5 below, Micrus agrees:

            (a)   to accept responsibility as described in paragraph 2 above and
                  more fully in Section C below;

            (b)   that if Micrus Corporation goes public during the term of this
                  Agreement, Micrus Corporation will disclose the fact of this
                  Agreement and its material terms in its initial public filing
                  with the United States Securities and Exchange Commission
                  ("SEC");

            (c)   to pay to the United States Treasury, within thirty (30)
                  calendar days of the Effective Date, a monetary penalty of $
                  450,000.00;

            (d)   to retain and pay for a Monitor as described more fully in
                  Section D below; and

            (e)   to continue to cooperate with the Department in its
                  investigation of the matters described herein (which
                  cooperation shall include an affirmative duty to fully and
                  truthfully disclose activities that Micrus reasonably believes
                  may violate the FCPA), as more fully described in Section E
                  below.

      5.    In exchange for Micrus' agreement to fulfill the obligations
            described in paragraph 4 above, and subject to the terms and
            conditions set forth below, the Department agrees that, except for
            prosecutions for violations of Title 26 of the United States Code,
            it will not prosecute Micrus under the FCPA for conduct that may
            violate the FCPA based on the Foreign Transactions or any other
            foreign transactions or events disclosed in writing by Micrus to the
            Department on or before the Effective Date. This Agreement applies
            to Micrus Corporation and Micrus S.A. only and does not prevent the
            Department from investigating or prosecuting any other entities or
            individuals.

C.    MICRUS' ACCEPTANCE OF RESPONSIBILITY

                                       2
<PAGE>

      6.    The obligation of Micrus referenced in paragraphs 2 and 4(a) above
            to accept responsibility means that Micrus shall undertake all of
            the duties imposed upon it in this Section C. The obligation shall
            have no other or additional meaning.

      7.    In the event that the Department, in its sole reasonable discretion,
            determines that Micrus has knowingly, willfully and materially
            breached any provision of this Agreement, then APPENDIX A (as
            supplemented by APPENDIX B) shall be a binding admission by Micrus
            as to the Criminal Division of the Department of Justice and any
            United States Attorney's Office. Further, and irrespective of
            whether Micrus has or has not breached the Agreement, Micrus will
            not, through its present or future directors, officers, employees,
            agents, attorneys or affiliates, make any public statements,
            including statements or positions in litigation in which any United
            States department or agency is a party, contradicting any statement
            of fact set forth in APPENDIX A (standing alone or as interpreted
            through APPENDIX B). Any such contradictory public statement by
            Micrus, its present or future directors, officers, employees,
            agents, attorneys or affiliates shall constitute a breach of this
            Agreement, and Micrus thereafter shall be subject to prosecution as
            set forth in Section F of this Agreement.

      8.    The decision of whether any public statement by any such person
            contradicting a statement contained in APPENDIX A will be imputed to
            Micrus for the purpose of determining whether Micrus has breached
            this Agreement shall be at the sole reasonable discretion of the
            Department. Upon the Department's reaching a determination that such
            a contradictory statement has been made by Micrus, the Department
            shall so notify Micrus in writing and Micrus may avoid a breach of
            this Agreement by publicly repudiating such statement within seven
            (7) business days after written notification by the Department.

      9.    Paragraphs 7 and 8 above are not intended to apply to any statement
            made by any individual in the course of any criminal, regulatory or
            civil case initiated by any governmental or private party against
            such individual, unless such individual has authority to and is
            speaking on behalf of Micrus; provided that, solely for the purposes
            of the Department's determination of whether Micrus has breached
            this Agreement, any statement made by Former Executive A and Former
            Executive B, irrespective of the context, shall not be attributable
            to Micrus. Notwithstanding Micrus' obligation not to contradict any
            statement set forth in APPENDIX A, Micrus may take good faith
            positions in litigation involving any private party, which good
            faith positions shall not be deemed to constitute violations of
            Micrus' obligations pursuant to paragraph 7 above.

                                       3
<PAGE>

D.    FCPA COMPLIANCE MONITOR

      10.   The obligation of Micrus referenced in paragraph 4(d) above to
            retain and pay for a Monitor means that Micrus shall undertake all
            of the duties imposed upon it in this Section D.

      11.   Micrus agrees that within 45 days from the Effective Date of this
            Agreement, and for a period of at least thirty-six (36) months from
            February 28, 2005, it will retain and pay for an outside,
            independent law firm (the "Monitor"), selected and paid for by
            Micrus and approved by the Department. It shall be a condition of
            the Monitor's retention that the Monitor is independent of Micrus
            and that no attorney-client relationship shall be formed between
            them. If Micrus, the Monitor or any other party or tribunal asserts
            or determines that communications between the Monitor and Micrus are
            protected by the attorney-client privilege or that documents created
            or reviewed by Micrus or the Monitor in connection with the
            Monitor's work are protected by the work product doctrine, then
            Micrus shall waive only as to the Department any protections
            afforded to such communications and documents. Any revocation of
            these waivers shall constitute a breach of this Agreement. The
            sharing of such communications by the Monitor with the Department is
            not intended to constitute a waiver of any privilege under any
            federal or state law that would shield from disclosure to any other
            third party any such communications.

      12.   The Monitor shall:

            (a)   monitor Micrus' compliance with this Agreement;

            (b)   monitor Micrus' implementation of and adherence to policies
                  and procedures relating to FCPA compliance (the "Policies and
                  Procedures");

            (c)   ensure that the Policies and Procedures are appropriately
                  designed to accomplish their goals;

            (d)   report to the Department, on at least a semi-annual basis and
                  between thirty (30) and forty-five (45) calendar days before
                  the end of the Monitor's term, as to Micrus' compliance with
                  this Agreement; and

            (e)   coordinate with the SEC and provide information about Micrus
                  as requested by that agency.

                                       4
<PAGE>

      13.   Micrus agrees that the Monitor may also disclose its reports, as
            directed by the Department, to any other federal, state or foreign
            law enforcement or regulatory agency in furtherance of an
            investigation of any matters related to the Foreign Transactions and
            any matters relating to any other transaction that has been or is
            discovered by, or brought to the attention of, the Department in
            connection with the Department's investigation of Micrus (the
            "Subject Matters"). During the Monitor's term, no amendments or
            changes will be made to the Policies and Procedures without the
            prior approval of the Monitor.

E.    MICRUS' COOPERATION

      14.   The obligation of Micrus referenced in paragraph 4(e) above to
            cooperate means that Micrus shall undertake all of the duties
            imposed upon it in this Section E.

      15.   During the term of this Agreement, Micrus agrees to cooperate fully
            with the Department, the Monitor, and, as directed by the
            Department, with any other federal, state or foreign law enforcement
            or regulatory agency regarding the Subject Matters.

      16.   The duty to cooperate includes an affirmative duty of full and
            truthful disclosure. Micrus shall truthfully disclose to the
            Department all information respecting the activities of Micrus and
            its present and former directors, officers, employees, agents,
            distributors, attorneys and affiliates relating to the Subject
            Matters about which the Department shall inquire, or which Micrus
            reasonably believes is material to the investigation by the
            Department into the Subject Matters.

      17.   Micrus agrees that its cooperation shall also include, but is not
            limited to, the following:

            (a)   providing reasonable access to Micrus' documents relating to
                  the Subject Matters, and to all directors, officers,
                  employees, agents, salespeople, attorneys and affiliates,
                  whether or not located in the United States, and to Micrus'
                  facilities for that purpose;

            (b)   assembling, organizing and producing, or taking reasonable
                  steps to effectuate the production of, on request from the
                  Department, all documents, records, or other tangible evidence
                  related to the Subject Matters in Micrus' possession, custody,
                  or control in such reasonable format as the Department
                  requests;

            (c)   not asserting a claim of attorney-client or work-product
                  privilege as to any (1) memoranda of witness interviews
                  (including exhibits) and documents created contemporaneously
                  with and related to the Foreign Transactions or with and
                  related to other transactions or events underlying the Subject
                  Matters (including, but not limited to, transactional
                  documents and emails,

                                       5
<PAGE>

                  but excluding any advice or attorney work-product relating to
                  or given in connection with Micrus' internal investigation or
                  the investigations conducted by the Department), and (2)
                  documents reflecting contemporaneous legal advice given to
                  Micrus in connection with the Foreign Transactions or other
                  transactions or events underlying the Subject Matters
                  (excluding any advice or attorney work-product relating to or
                  given in connection with Micrus' internal investigation or the
                  investigation of the Department). In making production of any
                  such documents, Micrus neither expressly nor implicitly waives
                  its right to assert any privilege that is available under law
                  against persons or entities other than the Department
                  concerning the produced documents or the subject matters
                  thereof;

            (d)   using its reasonable best efforts to make available its
                  present or former directors, officers, employees, agents,
                  salespeople, attorneys and affiliates to provide information
                  and/or testimony related to the Subject Matters as requested,
                  including sworn testimony before a federal grand jury or in
                  federal trials, as well as interviews with federal law
                  enforcement authorities. Cooperation under this sub-paragraph
                  will include identification of witnesses who, to Micrus'
                  knowledge, may have material information regarding the Subject
                  Matters;

            (e)   providing testimony and other information deemed necessary to
                  identify or establish the original location, authenticity, or
                  other evidentiary foundation necessary to admit into evidence
                  documents in any criminal or other proceeding related to the
                  Subject Matters;

            (f)   interfacing with the Monitor in connection with Micrus'
                  implementation of and adherence to the Policies and Procedures
                  and the Monitor's reporting duties described in Section D
                  above.

      18.   With respect to any information, testimony, document, record or
            other tangible evidence provided to the Department pursuant to this
            Agreement, Micrus consents to any and all disclosures to other
            federal, state or foreign law enforcement or regulatory agencies of
            such materials as the Department, in its sole reasonable discretion,
            deems appropriate in furtherance of the Department's investigation
            of the Subject Matters.

      19.   Micrus authorizes the Department to share information from and about
            Micrus with other federal, state or foreign law enforcement or
            regulatory agencies and hereby waives any confidentiality afforded
            to that information by law, agreement or otherwise that would,
            absent authorization by Micrus, prohibit or limit such sharing. No
            further waivers of confidentiality shall be required in that regard.

                                       6
<PAGE>

F.    BREACH OF THE AGREEMENT

      20.   For a period of twenty-four (24) months from February 28, 2005
            should the Department, in its sole reasonable discretion, determine
            that Micrus has knowingly and willfully given false, incomplete, or
            misleading information under this Agreement, or has committed any
            federal crimes subsequent to the date of this Agreement, or that
            Micrus otherwise has knowingly, willfully and materially breached
            any provision of this Agreement (including, as determined in the
            sole reasonable discretion of the Department, whether Micrus has
            knowingly and willfully failed to perform the duties imposed upon it
            in Section D above respecting the Monitor), the Department may, at
            its sole reasonable discretion, terminate this Agreement. In the
            event of termination, Micrus shall, in the Department's sole
            reasonable discretion, thereafter be subject to prosecution for any
            federal criminal violation, including prosecution for acts subject
            to the release of liability in paragraph 5 above.

      21.   Subject to paragraph 24 below, in the event that the Department, in
            its sole reasonable discretion, determines that Micrus has
            knowingly, willfully and materially breached any provision of this
            Agreement, then APPENDIX A (as supplemented by APPENDIX B) shall be
            a binding admission by Micrus as to the Department only, and (a) the
            Department may use and admit into evidence in any proceeding and for
            any purpose, and without objection by Micrus, APPENDICES A and B,
            (b) all statements made, or documents provided, to the Department,
            by or on behalf of Micrus or any of its current or former directors,
            officers, employees, agents, distributors, attorneys or affiliates
            (including without limitation information obtained by Micrus during
            its investigation or in the course of cooperating with the
            Department under this Agreement), and any testimony given by Micrus
            and any current or former directors, officers, employees, agents,
            distributors, attorneys or affiliates before a grand jury, the
            United States Congress, the SEC or elsewhere, and any leads derived
            from such statements, documents and testimony, shall be admissible
            in evidence in any and all criminal proceedings brought by the
            Department against Micrus, and (c) Micrus shall not assert any claim
            under the United States Constitution, Rule 410 of the Federal Rules
            of Evidence, or any other law, rule or regulation that any such
            statements made, or documents or testimony provided, by or on behalf
            of Micrus or any of its current or former directors, officers,
            employees, agents, distributors, attorneys or affiliates, prior or
            subsequent to this Agreement, or any leads there from, should be
            suppressed.

      22.   Subject to paragraph 9 above, the decision whether conduct and
            statements of any individual will be imputed to Micrus for the
            purpose of determining whether Micrus has willfully and materially
            breached any provision of this Agreement shall be in the sole
            reasonable discretion of the Department.

                                       7
<PAGE>

G.    WAIVER OF STATUTE OF LIMITATIONS AND CURE OF BREACH

      23.   With respect to any prosecutions under the FCPA for conduct that may
            violate the FCPA based on the Foreign Transactions or any other
            foreign transactions or events disclosed in writing by Micrus to the
            Department on or before the Effective Date which are not time-barred
            by the applicable statute of limitations as of the Effective Date,
            Micrus agrees that the applicable statute of limitation period for
            any such prosecutions shall be tolled for a period of time equal to
            the term of this Agreement (or, in the event of termination pursuant
            to paragraph 20 above, the date of written notice of such
            termination) so that such prosecutions may be commenced against
            Micrus in accordance with this Agreement, notwithstanding the
            expiration of the statute of limitations between the Effective Date
            and expiration of this Agreement (or, in the event of termination
            pursuant to paragraph 20 above, the date of written notice of such
            termination). Micrus' tolling of the statute of limitations is
            knowing and voluntary and in express reliance on the advice of
            counsel.

      24.   Should the Department determine that Micrus has committed a knowing,
            willful and material breach of any provision of this Agreement, the
            Department shall, within a reasonable time, provide written notice
            to Micrus of the alleged breach, and Micrus shall have twenty-one
            (21) calendar days from the date of that written notice in which to
            make a presentation to the Chief of the Fraud Section of the
            Criminal Division of the Department of Justice to demonstrate that
            no breach has occurred, or, to the extent applicable, that the
            breach is not a knowing and willful material breach or has been
            cured. Should Micrus fail to make a presentation to the Chief of the
            Fraud Section of the Criminal Division within the twenty-one (21)
            calendar day period, or such additional period upon which the
            parties agree in writing, it shall be conclusively presumed that
            Micrus is in knowing, willful and material breach of this Agreement.
            The parties further understand and agree that the Chief of the Fraud
            Section's exercise of discretion under this paragraph is not subject
            to review in any court or tribunal outside the Criminal Division of
            the Department of Justice. In the event of a knowing, willful and
            material breach of this Agreement that results in a prosecution of
            Micrus, such prosecution may be premised upon any information
            provided by or on behalf of Micrus to the Department at any time,
            including Micrus' presentation to the Chief of the Fraud Section of
            the Criminal Division, unless otherwise agreed when the information
            was provided.

H.    MERGER OR SALE OF MICRUS

      25.   Micrus agrees that if it sells or merges all or substantially all of
            its business operations as they exist as of the Effective Date of
            this Agreement to or into a single purchaser or group of affiliated
            purchasers during the term of this Agreement, Micrus shall include
            in any contract for sale or merger a provision binding the
            purchaser/successor to the obligations described in this Agreement.

                                       8
<PAGE>

I.    AGREEMENT BINDING ONLY ON MICRUS AND THE DEPARTMENT

      26.   Except as noted below in this Section I, this Agreement is binding
            on Micrus and the Department, but specifically does not bind any
            other federal agencies, or any state or local law enforcement or
            licensing authorities, although the Department will bring the
            cooperation of Micrus and its compliance with its obligations under
            this Agreement to the attention of federal, state and foreign law
            enforcement or licensing agencies or authorities, if requested by
            Micrus or its attorneys. Furthermore, nothing in this Agreement
            restricts in any way the ability of the Department to proceed
            against any other entity or against any individuals, including but
            not limited to current or former directors, officers, employees,
            agents, distributors, attorneys or affiliates of Micrus.

      27.   This Agreement also does not bind any department or agency of the
            United States Government respecting prosecutions, if any, of Micrus
            or any other entity or individual for violations of Title 26 of the
            United States Code.

J.    TERM OF AGREEMENT

      28.   This Agreement expires three (3) years from the Effective Date;
            provided, that if on the Effective Date the Department, the SEC or
            any other federal enforcement or regulatory agency with which the
            Department has directed Micrus to cooperate is then conducting any
            investigation, prosecution or proceeding relating to the Subject
            Matters, then this Agreement shall expire on the date that any such
            investigation, prosecution or proceeding is finally terminated, as
            determined by the governmental department or agency conducting the
            investigation, prosecution or proceeding.

      29.   Between thirty (30) and sixty calendar days (60) before the
            expiration of this Agreement or at such other time as the parties
            shall agree in writing, Micrus shall submit to the Department a
            written certification that Micrus is in compliance with this
            Agreement.

      30.   Paragraph 5 above shall survive termination of the Agreement, unless
            the Agreement is terminated due to Micrus' knowing, willful and
            material breach pursuant to Section F above. In the event of such a
            breach pursuant to Section F, Paragraph 21 shall survive termination
            of the Agreement.

                                       9
<PAGE>

K.    NOTICES

      31.   All notices to Micrus Corporation required or permitted by this
            Agreement shall be in writing and shall be given by first class,
            postage prepaid mail and by facsimile transmission, effective in
            each case upon the later of the date of mailing and of facsimile
            transmission, addressed as follows:

                    Micrus Corporation
                    John Kilcoyne, President and CEO
                    610 Palomar Avenue
                    Sunnyvale, CA 94085

                    Facsimile: 408.830.5910

               With a copy to:

                    Michael Shepard
                    Heller Ehrman White & McAuliffe LLP
                    333 Bush Street
                    San Francisco, CA 94104

                    Facsimile: 415.772.6268

      32.   All notices to Micrus S.A. required or permitted by this Agreement
            shall be in writing and shall be given by courier and by facsimile
            transmission, effective in each case upon the later of the date of
            delivery to the courier and of facsimile transmission, addressed as
            follows:

                    Micrus S.A.
                    Eckhard Reitz, Executive Vice President
                    En Chamard 55
                    CH-1442 Montagny-Pres-Yverdon
                    Switzerland

                    Facsimile: +41.24.447.8001

               With a copy to:

                    Michael J. Shepard
                    Heller Ehrman White & McAuliffe LLP
                    333 Bush Street
                    San Francisco, CA 94104

               Facsimile: 415.772.6268

                                       10
<PAGE>

L.    MISCELLANEOUS

      33.   Micrus Corporation and Micrus S.A. hereby warrant and represent that
            the Board of Directors of each has duly authorized, in a specific
            resolution, the execution and delivery of this Agreement by Micrus
            Corporation and Micrus S.A., and that the person signing the
            Agreement has authority to bind Micrus Corporation and Micrus S.A.,
            respectively. Micrus further agrees that it will deliver
            concurrently with an executed copy of this Agreement a copy of the
            respective requisite corporate resolutions by Micrus Corporation and
            Micrus S.A.'s Board of Directors authorizing them to enter into this
            Agreement.

      34.   This Agreement and APPENDICES A and B constitute the entire
            agreement, and supercede all other prior agreements or
            understandings, both oral and written, among the parties with
            respect to the subject matter hereof.

      35.   This Agreement may not be modified except in writing signed by all
            the parties.

      36.   The headings contained in this Agreement are for reference only and
            shall not affect in any way the meaning or interpretation of this
            Agreement.

      37.   This Agreement may be executed in counterparts, each of which shall
            be deemed an original but all of which taken together shall
            constitute one and the same agreement. The exchange of copies of
            this Agreement and of signature pages by facsimile or electronic
            transmission shall constitute effective execution and delivery of
            this Agreement as to the parties and may be used in lieu of the
            original Agreement for all purposes. Signatures of the parties
            transmitted by facsimile or electronic transmission shall be deemed
            to be their original signatures for all purposes.

                                      JOSHUA R. HOCHBERG
                                      Chief, Fraud Section
                                      Criminal Division
                                      United States Department of Justice

                                      By: /s/ Mark F. Mendelsohn
                                          -------------------------------
                                          MARK F. MENDELSOHN
                                          Deputy Chief

                                       11
<PAGE>

                           ACKNOWLEDGMENT OF AGREEMENT

                               MICRUS CORPORATION

      On behalf of Micrus Corporation I hereby certify the following:

      I have read the Agreement and carefully reviewed every part of it with
counsel for Micrus Corporation. I understand the terms of the Agreement and
voluntarily agree, on behalf of Micrus Corporation, to its terms. Before signing
the Agreement, I consulted with Micrus Corporation's counsel, who fully advised
me of Micrus Corporation's rights, of possible defenses and of the consequences
of entering into the Agreement. No promises or inducements have been made to me
or Micrus Corporation other than those contained in the Agreement. Furthermore,
no one has threatened or forced me or, to my knowledge, any person authorizing
the Agreement on behalf of Micrus Corporation, to enter into this Agreement. I
am also satisfied with counsel's representation of Micrus Corporation in this
matter.

      I certify that I am an officer of Micrus Corporation and that I have been
duly authorized by Micrus Corporation to execute this Agreement on its behalf.

Micrus Corporation

By: /s/ Robert A. Stern                        Dated: February 28, 2005
    ---------------------------
    Robert A. Stern
    Executive Vice President
    and Chief Financial Officer

                                   MICRUS S.A.

      On behalf of Micrus S.A. I hereby certify the following:

      I have read the Agreement and carefully reviewed every part of it with
counsel for Micrus S.A.. I understand the terms of the Agreement and voluntarily
agree, on behalf of Micrus S.A., to its terms. Before signing the Agreement, I
consulted with Micrus S.A.'s counsel, who fully advised me of Micrus S.A.'s
rights, of possible defenses and of the consequences of entering into the
Agreement. No promises or inducements have been made to me or Micrus S.A. other
than those contained in the Agreement. Furthermore, no one has threatened or
forced me or, to my knowledge, any person authorizing the Agreement on behalf of
Micrus S.A., to enter into this Agreement. I am also satisfied with counsel's
representation of Micrus S.A. in this matter.

      I certify that I am an officer of Micrus S.A. and that I have been duly
authorized by Micrus S.A. to execute this Agreement on its behalf.

Micrus S.A.

By: /s/ Eckhard Reitz                         Dated: February 28, 2005
    ------------------------
    Eckhard Reitz,
    Executive Vice President

                                       12
<PAGE>

      I certify that I am counsel to Micrus Corporation and Micrus S.A. in this
matter and that I have carefully reviewed the Agreement with the duly authorized
Micrus officers whose signatures appear above.

Heller Ehrman White & McAuliffe LLP

By: /s/ Michael J. Shepard/DR               Dated: February 28, 2005
    -------------------------
    Michael J. Shepard

                                       13
<PAGE>

                                   APPENDIX A

     From January 2002, Micrus Corporation and its Swiss subsidiary, Micrus S.A.
(collectively "Micrus"), have been engaged in, among other businesses, the sale
and distribution of embolic coils in foreign jurisdictions. In connection with
sales to public and private medical facilities in some of those countries
between January 2002 and August 2004, Micrus entered into several types of
arrangements with doctors, pursuant to which the doctors used or promoted Micrus
products in exchange for payments, commissions or honoraria (the "foreign
payments"). During that time, Micrus also granted to some of those foreign
doctors options to purchase shares of Micrus securities (after those securities
were issued to the public in an Initial Public Offering)(the "stock option
grants").

     Those payments totaled approximately $1,400,000. Of that amount,
approximately $105,000 was paid as part of an arrangement that clearly violated
the FCPA and the law in the foreign jurisdiction where the payment was made, and
an additional approximately $250,000 was comprised of payments for which Micrus
did not obtain the necessary prior administrative or legal approval as required
under the laws of the relevant foreign jurisdiction.

1.   LACK OF INTERNAL CONTROLS

     From its inception through and including at least August 2004, Micrus
never had an FCPA compliance program.

2.   PAYMENTS AND STOCK OPTION GRANTS TO DR. A

     From June 2003 to May 2004, Dr. A, a physician in a French public hospital
center, received payments of $19,725 in cash, as well as stock option grants
worth approximately $4,931 from Micrus. These payments were proportional to
purchases made by the public hospital, and therefore intended to increase the
sales of, Micrus' medical devices to Dr. A's government-operated hospital, and
were not in compensation for services performed by Doctor A. The payments and
option grants therefore violated the FCPA and French law. The Micrus personnel
and former personnel involved in the negotiations with, or aware of the payments
and option grants to, Dr. A include Former Executive A, Former Executive B,
Former Manager A, Former Manager B, Administrator A, Sales Representative A and
Sales Representative C.

     Accordingly, there is competent and credible evidence that, between June
2003 and May 2004, Micrus, through the conduct of Former Executive A, Former
Executive B and Former Manager A, made use of the U.S. mails and other means or
instrumentalities of interstate commerce (namely, e-mail, telephone and/or wire
transmissions) corruptly in furtherance of (a) an offer and promise by Former
Executive B, Sales Representative A and Sales Representative C to pay, and (b) a
payment by Former Executive A and/or

<PAGE>
Administrator A of, and (c) the authorization thereof to pay money or a thing of
value to an official of the government of France (Dr. A) for the purpose of (d)
inducing the official to use his influence with the government of France to
affect or influence an act or decision (the procurement of medical devices) by
the government of France, in order to assist Micrus in obtaining and retaining
business.

3. STOCK OPTION GRANTS TO DR. B

     From May 2002 to June 2004, Dr. B, a physician in a French public hospital
center and a member of the Micrus S.A. Scientific Advisory Board, received
approximately $14,570 in stock option grants from Micrus. It was Micrus'
intention that the stock option grants were to be given in return for the
performance of scientific advisory services by Dr. B, but the value of the
options exceeded the value of the services performed. The value of the stock
options granted in excess of the services performed were intended to increase
the sales of Micrus' medical devices to Dr. B's government-operated hospital.
The grants therefore violated the FCPA and French law. The Micrus personnel and
former personnel involved in the granting of stock options to Dr. B include
Former Executive A, Former Executive B, Former Manager A, Former Manager B, and
Sales Representative A.

     Accordingly, there is competent and credible evidence that, between May
2002 and June 2004, Micrus, through the conduct of Former Executive A, Former
Executive B and Former Manager A, made use of the U.S. mails and other means or
instrumentalities of interstate commerce (namely, e-mail, telephone and/or wire
transmissions) corruptly in furtherance of (a) an offer and promise by Sales
Representative A, Former Manager A and Former Manager B to pay, and (b) a
payment by Former Executive A and/or Former Executive B of, and (c) the
authorization thereof to pay money or a thing of value to an official of the
government of France (Dr. B) for the purpose of (d) inducing the official to use
his influence with the government of France to affect or influence an act or
decision (the procurement of medical devices) by the government of France, in
order to assist Micrus in obtaining and retaining business.

4. PAYMENTS TO DR. C

     From January through July 2004, Dr. C, a physician in a Turkish university
hospital center, received $35,670 in consulting payments from Micrus. These
payments were to maintain sales of Micrus medical devices to Dr. C's
government-operated hospital, and were not in compensation for services
performed by the doctor. The Micrus personnel and former personnel involved in
the negotiations with, or aware of the payments to, Dr. C include former
Executive A, former Executive B, and Administrator A.

     Accordingly, there is competent and credible evidence that, from January
through July 2004, Micrus, through the conduct of Former Executive A and Former
Executive B,

                                       2
<PAGE>
made use of the U.S. mails and other means or instrumentalities of interstate
commerce (namely, e-mail, telephone and/or wire transmissions) corruptly in
furtherance of (a) an offer and promise by Former Executive B to pay, and
(b) a payment by Former Executive A and/or Administrator A of, and (c) the
authorization thereof to pay money or a thing of value to an official of the
government of Turkey (Dr. C) for the purpose of (d) inducing the official to use
his influence with the government of Turkey to affect or influence an act or
decision (the procurement of medical devices) by the government of Turkey, in
order to assist Micrus in obtaining and retaining business.

4    PAYMENTS TO DR. D

     In May and September 2002, Micrus paid $8,629 for English classes for
Dr. D, a physician in a French public hospital center. These payments were not
in return for the performance of services by Dr. D, and were intended to
increase the sales of Micrus medical devices to Dr. D's government-operated
hospital. The Micrus personnel and former personnel involved in negotiations
with, or aware of the payments to, Dr. D include Former Executive A, Former
Manager A, Administrator A and Sales Representative A.

     Accordingly, there is competent and credible evidence that, between May and
September 2002, Micrus, through the conduct of Former Executive A, made use of
the U.S. mails and other means or instrumentalities of interstate commerce
(namely, e-mail, telephone and/or wire transmissions) corruptly in furtherance
of (a) an offer and promise by Sales Representative A to pay, and (b) a payment
by Former Executive A and/or Administrator A of, and (c) the authorization
thereof to pay money or a thing of value to an official of the government of
France (Dr. D) for the purpose of (d) inducing the official to use his influence
with the government of France to affect or influence an act or decision (the
procurement of medical devices) by the government of France, in order to assist
Micrus in obtaining and retaining business.

5    STOCK OPTION GRANTS TO DR. E

     In January 2002, Dr. E, a physician at several Spanish public hospitals
received approximately $10,800 in stock option grants from Micrus. It was
Micrus' intention that the stock option grants were to be given in return for
the performance of consulting services by Dr. E, but the value of the options
exceeded the value of the services performed. The value of the stock options
granted in excess of the services performed were intended to increase the sales
of Micrus' medical devices to Dr. E's government-operated hospitals. The grants
therefore violated the FCPA and Spanish law. The Micrus personnel and former
personnel involved in the granting of stock options to Dr. E include Former
Executive A, Former Executive B.

     Accordingly, there is competent and credible evidence that, between May
2002 and June 2004, Micrus, through the conduct of Former Executive A, Former
Executive B

                                       3

<PAGE>
and Former Manager A, made use of the U.S. mails and other means or
instrumentalities of interstate commerce (namely, e-mail, telephone and/or wire
transmissions) corruptly in furtherance of (a) an offer and promise by Former
Manager A to pay, and (b) a payment by Former Executive A and/or Former
Executive B of, and (c) the authorization thereof to pay money or a thing of
value to an official of the government of Spain (Dr. E) for the purpose of (d)
inducing the official to use his influence with the government of Spain to
affect or influence an act or decision (the procurement of medical devices) by
the government of Spain, in order to assist Micrus in obtaining and retaining
business.

6    STOCK OPTION GRANTS TO DR. F

     In June 2003, Dr. F, a physician in a German public hospital center and
a member of the Micrus S.A. Scientific Advisory Board, received approximately
$10,800 in stock option grants from Micrus. It was Micrus' intention that the
stock option grants were to be given in return for the performance of scientific
advisory services by Dr. F, but the value of the options exceeded the value of
the services performed. The value of the stock options granted in excess of
the services performed were intended to increase the sales of Micrus' medical
devices to Dr. F's government-operated hospital. Furthermore, such grants
violate the FCPA and German Law. The Micrus personnel and former personnel
involved in the granting of stock options to Dr. F include Former Executive A
and Former Executive B.

     Accordingly, there is competent and credible evidence that, in June 2003,
Micrus, through the conduct of Former Executive A and Former Executive B,
made use of the U.S. mails and other means or instrumentalities of interstate
commerce (namely, e-mail, telephone and/or wire transmissions) corruptly in
furtherance of (a) an offer and promise by Former Executive A and/or Former
Executive B to pay, and (b) a payment by Former Executive A and/or Former
Executive B of, and (c) the authorization thereof to pay money or a thing of
value to an official of the government of Germany (Dr. F) for the purpose of
(d) inducing the official to use his influence with the government of Germany to
affect or influence an act or decision (the procurement of medical devices) by
the government of Germany, in order to assist Micrus in obtaining and retaining
business.

                                       4

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