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Exhibit 10.35    
    

FIRST AMENDMENT TO

DISTRIBUTION AGREEMENT  

        This First Amendment to Distribution Agreement, made effective December 31, 2004, is entered into between INVATEC S.r.l. (hereinafter referred to as
"INVATEC") having a registered office at Via Martiri della Libertà 7, Roncadelle (BS), Italy, represented by its Chief Executive
Officer, Mr. Andrea Venturelli, 

        and  

        ev3 Inc. (hereinafter referred to as "EV3") having a registered office at 4600 Nathan Lane, Plymouth
Minnesota 55442, represented by its President and Chief Executive Officer, Mr. James M. Corbett, 

        (INVATEC and EV3 are hereinafter also referred to as the
"PARTIES") 

and
amends a certain Distribution Agreement among the PARTIES which became effective in June, 2004 (the
"AGREEMENT"). 

        WHEREAS,
the PARTIES have been performing as if the following terms and conditions were a part of the Agreement, having reached agreement
on the terms through email and live discussion during November 2004; and 

        WHEREAS,
the PARTIES now wish to memorialize their agreement in a written modification to the  AGREEMENT in order to clarify and modify certain provisions; 

        NOW,
THEREFORE, the PARTIES hereby agree as follows: 

	I.
	Sections
1.2, 1.4, 1.16, and 6.3 of the AGREEMENT shall be deleted and replaced with the following: 

1.2      "AGGREGATE MINIMUM ANNUAL VALUE OF PURCHASES" shall mean: the aggregate minimum value of orders of the  PRODUCTS which EV3 must place during any
twelve (12) months period for delivery in the same twelve
(12) months period for delivery in the same twelve (12) months period, starting from the January 1, 2005; 

1.4      "ANNUAL TARGETS" shall mean: the targeted orders per each group of  PRODUCTS during any twelve (12) months period for delivery in the same twelve (12) months period for 
EV3 to reach, starting from January 1, 2005; 

1.16    "MINIMUM ANNUAL VOLUME OF PURCHASES" shall mean: the minimum volume of orders per each group of  PRODUCTS that EV3 must place during any twelve
(12) months period for delivery in the same twelve
(12) months period, starting from January 1, 2005; 

6.3      It
is agreed that the obligations set hereinabove under Articles 6.1 and 6.2 will become effective on January 1, 2005. 

	II.
	Section
1.8 of the AGREEMENT (FIRST APPROVAL DATE), shall be deleted and left blank.

	III.
	The
PARTIES agree that the EFFECTIVE DATE of the  AGREEMENT shall be June 26, 2004. In addition, the first sentence of Section
11.1 shall be deleted, and replaced with the following: 

The  AGREEMENT shall come into force at the EFFECTIVE DATE and shall expire on December 31, 2007
(the "INITIAL TERM"). 

	IV.
	[***]

	V.
	[***]

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

1

 
	VI.
	[***]

	VII.
	The
PARTIES agree that in connection with the modifications to the AGREEMENT, the
refundable amount of the SIGN UP FEE described in Section 2.5 will be reduced by 200,000€/$240,000. In addition, the repayment of
the remaining $4,760,000 SIGN UP FEE will begin only after the first 2,000,000€ of purchases by  EV3 from INVATEC.

	VIII.
	Sections
3.4 and 9.1 shall be stricken and replaced with the following:

	
3.4
	EV3 shall notify INVATEC within three (3) working days of any technical
complaints relating to the PRODUCTS that EV3 received from any competent authority in the  TERRITORY, in sufficient detail to
allow INVATEC to comply with any and all applicable  LAWS. EV3 shall also advise INVATEC
of any regulatory
action (e.g. request of information on the PRODUCTS, proposed changes in labeling, packaging, storage conditions, and recalls) which would affect the  PRODUCTS in the
TERRITORY. INVATEC will notify  EV3 within three (3) working days of receiving notice of any technical complaints relating to
the  PRODUCTS that INVATEC received from any competent authority, in sufficient detail to allow  EV3 to comply with any and all
applicable LAWS. INVATEC
shall also advise EV3 of any regulatory action (e.g. request of information on the PRODUCTS, proposed
changes in labeling, packaging, storage conditions, and recalls) which would affect the PRODUCTS in the  TERRITORY.

	9.1
	The
PARTIES will notify each other within three (3) working days of any adverse events related and/or connected to the promotion,
distribution and/or sale of the PRODUCTS in the TERRITORY which come to their notice or any of their
representatives' notice and will take any temporary appropriate action to protect each others interests. EV3 shall be responsible for handling all
inquires and any adverse device experience reporting requirements related to the PRODUCTS, including any vigilance reporting, and shall provide
duplicate copies to INVATEC. INVATEC will cooperate with and assist  EV3 in submitting any report required by the applicable
competent authority, including, without limitation, performing a failure analysis of the
returned PRODUCT. If EV3 provides to INVATEC any
returned PRODUCTS or samples of PRODUCTS, INVATEC shall,
upon written request, return such PRODUCTS to EV3 after  INVATEC has performed the necessary analysis.

	IX.
	The
following language shall be added to the AGREEMENT as new Sections 7.3 and 7.4, and Sections 10.2(iv) and (v):

	7.3
	INVATEC shall provide with each shipment of PRODUCT a Certificate of Conformance
identifying the testing conducted by INVATEC to ensure each lot meets the SPECIFICATIONS. The
Certificate of Conformance shall be in a form mutually agreed to by the PARTIES in writing.

	7.4
	INVATEC will notify EV3, according to an agreed upon notice schedule, prior to and
after completion of the implementation of any change that may affect the PRODUCTS, including, without limitation, product-specific changes where there
is an actual or potential impact on end-item specifications/limits/dimensions, intended use or operation, labeling, regulatory compliance, appearance, cosmetic criteria, and/or increase in
manufacturing cots. INVATEC agrees to provide test results to EV3 within 10 days of making any
such changes to assure that the PRODUCTS meet SPECIFICATIONS and compliance with applicable  LAWS.

	10.2
	INVATEC undertakes to:

	(iv)
	allow
EV3, upon reasonable notice and during business hours, to inspect INVATEC'S
production, packaging and quality control facilities as well as INVATEC'S quality records relating to the  PRODUCTS to verify INVATEC'S compliance with the manufacturing, quality systems and procedures for the  PRODUCTS under this AGREEMENT and the LAWS, PROVIDED HOWEVER, THAT
EV3 ACCEPTS
LIMITED ACCESS TO PROPRIETARY AREAS UPON THE SOLE DISCRETION OF INVATEC; 

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

2

 

	(v)
	perform
necessary corrective actions to mutually agreed upon audit items.

	X.
	Capitalized
terms used herein and not defined herein shall have the respective meanings ascribed to such terms in the AGREEMENT. All
other terms and conditions of the AGREEMENT shall remain in full force and effect. 

        IN
WITNESS WHEREOF, the parties hereto have subscribed their names to this Agreement the day and year written below. 

	EV3 INC.	 	INVATEC S.R.L.
	

By:	

/s/  JAMES M. CORBETT      
 James M. Corbett

President and Chief Executive Officer	
 	

By:	

/s/  ANDREA VENTURELLI      
 Andrea Venturelli

Chief Executive Officer
	

Date Signed: 02-07-05	
 	

Date Signed: 10/02/05

3

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Exhibit 10.35QuickLinks
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Exhibit 10.36    
    

 
  ROYALTY AGREEMENT    
    

        MICROVENA Corporation agrees to pay Frank Kotula a royalty of 2.0
percent of the net selling price of the product outlined below for a 15 year period commencing with the first commercial sale of the device. 

PRODUCT:  AMPLATZ THROMBECTOMY DEVICE ("Clot-Buster")

[Including
modifications of such device for other mechanical dissolution procedures.] 

        Payment
of the royalty will be made in your name or the name of any other person, organization, and/or beneficiaries, as you so desire. Payment will be made between January 1 and
February 15 of the succeeding year in which the items were sold. MICROVENA will furnish you with an annual report indicating the number of units sold and their net sales price. 

        In
return, you agree to give MICROVENA the exclusive right to use your name in the descriptive title of the product. This agreement however, does not prevent you from allowing the use of
your name on other non-competitive products exclusive of this device. You also agree to act as an advisor to MICROVENA concerning needed changes and/or modifications of this product.
MICROVENA will also become the exclusive manufacturer of these products. 

        If
the product should be modified and the modification does not completely change the character of the product, these modifications would be included in future royalty payments. Should
the character and use of the product be completely changed by any modification, MICROVENA may wish to enter into a new royalty agreement for the new product. Likewise, MICROVENA will have an exclusive
right to the manufacturing and sales of such improved or modified devices, and first rights of refusal for any related devices as designed by the forementioned inventor. 

        Should
irreconcilable differences cause a cessation of our relationship with respect to this agreement, MICROVENA would no longer expect you to act as an advisor with regards to the
design or modification of this product. In the acceptance of the agreement above: 

	/s/ Rudy A. Mazzocchi
 MICROVENA Corporation	 	/s/  FRANK KOTULA      
 Frank Kotula
	

DATE:	
 	

10/14/93
	
 	

DATE:	
 	

11-18-93

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Exhibit 10.36

ROYALTY AGREEMENT

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