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Exhibit 10(d) 

  MANAGEMENT AGREEMENT         

    AGREEMENT made as of this 1st day of September, 1996 by and between Minntech Corporation, a Minnesota corporation, with its principal executive office at
Plymouth, Minnesota ("Company") and Barbara A. Wrigley residing at 17101 Sandy Lane, Minnetonka, Minnesota 55345 (the "Executive"). 

    WHEREAS,
Company considers the establishment and maintenance of a sound and vital management to be essential to protecting and enhancing the best interests of Company and its
shareholders; and 

    WHEREAS,
the Executive is expected to continue to make a significant contribution to the profitability, growth and financial strength of Company; and 

    WHEREAS,
Company, as a publicly held corporation, recognizes that the possibility of a Change in Control may exist and that such possibility, and the uncertainty and questions which
it may raise among management, may result in the departure or distraction of the Executive in the performance of the Executive's duties to the detriment of Company and its shareholders; and 

    WHEREAS,
the Executive is willing to continue to be an employee of Company upon the understanding that Company will provide income security if the Executive's employment is terminated
under certain terms and conditions; and 

    WHEREAS,
it is in the best interests of Company and its shareholders to reinforce and encourage the continued attention and dedication of management personnel, including the
Executive, to their assigned duties without distraction and to increase the likelihood of the continued availability to Company of the Executive in the event of a Change in Control. 

    THEREFORE,
in consideration of the foregoing and other respective covenants and agreements of the parties herein contained, the parties hereto agree as follows: 

    1.  Term of Agreement.  This Agreement shall commence on the date hereof and shall continue in effect
until such time as Company notifies the Executive or the Executive notifies Company of termination of this Agreement; provided, however, that in no event may this Agreement be terminated prior to two
years from the date hereof, and notice of termination on the second or any subsequent anniversary date hereof must be given by Company in writing mailed to the Executive at his or her last known
address within 60 days prior to such anniversary date or by the Executive by notice in writing mailed to Company at the principal executive office of Company within 60 days prior to such
anniversary date. If no such notice is given, then the term of this Agreement shall be extended for additional periods of one year. Notwithstanding the preceding sentence, if a Change in Control
occurs during the term of this Agreement (including any extension hereof), this Agreement shall continue in effect for a period of 36 months from the date of the occurrence of a Change in
Control. Except as provided in Section 2(b) or Section 3(e) of this Agreement, nothing stated herein shall limit the right of the Executive or Company to terminate the employment of the
Executive with Company at any time prior to the expiration of the term of this Agreement, with or without Cause (as defined in Section 3(b) of this Agreement) and for any reason whatsoever,
subject to the right of the Executive to receive any payment and other benefits that may be due pursuant to the terms and conditions of Section 4 of this Agreement. 

    2.  Change in Control.  No amounts shall be payable hereunder unless a Change in Control, as set forth
below, shall occur during the term of this Agreement. 

    (a) For
purposes of this Agreement, a "Change in Control" of Company shall be deemed to occur if any of the following occur: 

     (i) Any
"person" (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended, or any successor statute thereto (the "Exchange
Act")) acquires or becomes a "beneficial owner" (as defined in Rule 13d-3 or any successor rule under the Exchange Act), directly or indirectly, of securities of Company
representing 30% or 

more of the combined voting power of Company's then outstanding securities entitled to vote generally in the election of directors ("Voting Securities"), provided, however, that the following shall
not constitute a Change in Control pursuant to this Section 2(a)(i): 

    (A) any
acquisition or beneficial ownership by Company or a subsidiary of Company; 

    (B) any
acquisition or beneficial ownership by any employee benefit plan (or related trust) sponsored or maintained by Company or one or more of its subsidiaries; 

    (C) any
acquisition or beneficial ownership by any corporation with respect to which, immediately following such acquisition, more than 70% of both the combined voting
power of Company's then outstanding Voting Securities and the common stock of Company is then beneficially owned, directly or indirectly, by all or substantially all of the persons who beneficially
owned Voting Securities and common stock of Company immediately prior to such acquisition in substantially the same proportions as their ownership of such Voting Securities and common stock, as the
case may be, immediately prior to such acquisition; 

    (ii) A
majority of the members of the Board of Directors of Company shall not be Continuing Directors. For purposes of this subsection 2(a)(ii), "Continuing Directors"
shall mean: (A) individuals who, on the date hereof, are directors of Company, (B) individuals elected as directors of Company subsequent to the date hereof for whose election proxies
shall have been solicited by the Board of Directors of Company or (C) any individual elected or appointed by the Board of Directors of Company to fill vacancies on the Board of Directors of
Company caused by death or resignation (but not by removal) or to fill newly-created directorships; 

    (iii) Approval
by the shareholders of Company of a reorganization, merger or consolidation of Company (other than a merger or consolidation with a subsidiary of
Company) or a statutory exchange of outstanding Voting Securities of Company, unless immediately following such reorganization, merger, consolidation or exchange, all or substantially all of the
persons who were the beneficial owners, respectively, of Voting Securities and common stock of Company immediately prior to such reorganization, merger, consolidation or exchange beneficially own,
directly or indirectly, more than 70% of, respectively, the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors and the then
outstanding shares of common stock, as the case may be, of the corporation resulting from such reorganization, merger, consolidation or exchange in substantially the same proportions as their
ownership, immediately prior to such reorganization, merger, consolidation or exchange, of the Voting Securities and common stock of Company, as the case may be; 

    (iv) Approval
by the shareholders of Company of (x) a complete liquidation or dissolution of Company or (y) the sale or other disposition of all or
substantially all of the assets of Company (in one or a series of transactions), other than to a corporation with respect to which, immediately following such sale or other disposition, more than 70%
of, respectively, the combined voting power of the then outstanding voting securities of such corporation entitled to vote generally in the election of directors and the then outstanding shares of
common stock of such corporation is then beneficially owned, directly or
indirectly, by all or substantially all of the persons who were the beneficial owners, respectively, of the Voting Securities and common stock of Company immediately prior to such sale or other
disposition in substantially the same proportions as their ownership, immediately prior to such sale or other disposition, of the Voting Securities and common stock of Company, as the case may be; or 

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    (v) Company enters into a letter of intent, an agreement in principle or a definitive agreement relating to a Change in Control described in Section 2(a)(i),
2(a)(ii), 2(a)(iii) or 2(a)(iv) above that ultimately results in such a Change in Control or a tender or exchange offer or proxy contest is commenced which ultimately results in a Change
in Control described in Section 2(a)(i) or 2(a)(ii) hereof. 

Notwithstanding
the above, a Change in Control shall not be deemed to occur with respect to the Executive if (x) the acquisition or beneficial ownership of the 30% or greater interest referred
to in Section 2(a)(i) is by the Executive or by a group, acting in concert, that includes the Executive or (y) if a majority of the then combined voting power of the then
outstanding voting securities (or voting equity interests) of the surviving corporation or of any corporation (or other entity) acquiring all or substantially all of the assets of Company shall,
immediately after a reorganization, merger, consolidation, statutory share exchange or disposition of assets referred to in Section 2(a)(iii) or 2(a)(iv), be beneficially owned, directly
or indirectly, by the Executive or by a group, acting in concert, that includes the Executive. 

    (b) The
Executive agrees that, subject to the terms and conditions of this Agreement, in the event of a Change in Control of Company described in
Section 2(a)(i), 2(a)(ii), 2(a)(iii) or 2(a)(iv), occurring after the date hereof, the Executive, if employed by Company immediately prior to such a Change in Control, will not
voluntarily terminate employment with Company except for Good Reason for a period of 90 days after the occurrence of such a Change in Control of Company. 

    (c) For
purposes of this Agreement, a "subsidiary" of Company shall mean any entity of which securities or other ownership interests having general voting power to
elect a majority of the board of directors or other persons performing similar functions are at the time directly or indirectly owned by Company. 

    3.  Termination Following Change in Control.  If a Change in Control shall occur during the term of this
Agreement, the Executive shall be entitled to the payments and other benefits provided in subsection 4(d) in the event of the termination of the Executive's employment with Company unless the
Executive's termination is (A) because of the Executive's death, (B) by Company for Cause or Disability, or (C) by the Executive other than for Good Reason. 

    (a)  Disability.  If, as a result of incapacity due to physical or mental illness, the Executive shall
have been absent from the full-time performance of the Executive's duties with Company for six consecutive months, and within 30 days after written Notice of Termination is given,
the Executive shall not have returned to the full-time performance of the Executive's duties, Company may terminate the Executive's employment for "Disability". Any question as to the
existence of the Executive's Disability upon which the Executive and Company cannot agree shall be determined by a qualified independent physician selected by the Executive (or, if the Executive is
unable to make such selection, it shall be made by any adult member of the Executive's immediate family), and approved by Company. The determination of such physician made in writing to Company and to
the Executive shall be final and conclusive for all purposes of this Agreement. 

    (b)  Cause.  Termination of the Executive's employment for "Cause" shall mean termination upon the
conviction of the Executive by a court of competent jurisdiction for felony criminal conduct. 

    (c)  Good Reason.  Termination by the Executive for "Good Reason" shall mean termination by the Executive
if, without the Executive's express written consent, any of the following shall occur: 

     (i) the
assignment to the Executive of any duties inconsistent with the Executive's status or position with Company, or a substantial alteration in the nature or status
of the Executive's responsibilities from those in effect immediately prior to the Change in Control; 

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    (ii) a reduction by Company in the Executive's annual base salary in effect immediately prior to a Change in Control; 

    (iii) the
relocation of Company's principal executive offices to a location more than fifty miles from Plymouth, Minnesota or Company requiring the Executive to be
based anywhere other than Company's principal executive office (or if the Executive is based at a location other than Company's principal executive office immediately prior to the first Change in
Control, anywhere other than such location)
except for required travel on Company's business to an extent substantially consistent with the Executive's prior business travel obligations; 

    (iv) the
failure by Company to continue to provide the Executive with benefits at least as favorable to those enjoyed by the Executive under any of Company's pension,
life insurance, medical, health and accident, disability, deferred compensation, incentive awards, employee stock options, or savings plans in which the Executive was participating at the time of the
Change in Control, the taking of any action by Company which would directly or indirectly materially reduce any of such benefits or deprive the Executive of any material fringe benefit enjoyed at the
time of the Change in Control, or the failure by Company to provide the Executive with the number of paid vacation days to which the Executive is entitled at the time of the Change in Control,
provided, however, that Company may amend any such plan or programs as long as such amendments do not reduce any benefits to which the Executive would be entitled upon termination; 

    (v) a
termination pursuant to Section 3(d) of this Agreement; 

    (vi) the
failure of Company to obtain a satisfactory agreement from any successor to assume and agree to perform this Agreement, as contemplated in Section 6; or 

   (vii) any
purported termination of the Executive's employment which is not made pursuant to a Notice of Termination satisfying the requirements of subsection
(e) below; for purposes of this Agreement, no such purported termination shall be effective. 

    (d)  Voluntary Termination Deemed Good Reason.  Notwithstanding anything herein to the contrary, during
the period commencing on the 91st day following a Change in Control under Section 2(a)(i), 2(a)(ii), 2(a)(iii) or 2(a)(iv) of this Agreement and ending on the 180th day following
such a Change in Control, the Executive may voluntarily terminate his or her employment for any reason, and such termination shall be deemed "Good Reason" for all purposes of this Agreement. In the
event of such voluntary termination pursuant to this subsection 3(d)), the multiple applied to the Severance Payment (as defined in Section 4(d)), if any, payable to the Executive pursuant to
subsection 4(d)(ii) below shall be reduced by 50%. 

    (e)  Notice of Termination.  Any purported termination of the Executive's employment by Company or by the
Executive shall be communicated by written Notice of Termination to the other party hereto in accordance with Section 7. For purposes of this Agreement, a "Notice of Termination" shall mean a
notice which shall indicate the specific termination provision in this Agreement relied upon and shall set forth the facts and circumstances claimed to provide a basis for termination of the
Executive's employment. 

    (f)  Date of Termination.  For purposes of this Agreement, "Date of Termination" shall mean: 

     (i) if
the Executive's employment is terminated for Disability, 30 days after Notice of Termination is given (provided that the Executive shall not have returned
to the full-time performance of the Executive's duties during such 30 day period); and 

    (ii) if
the Executive's employment is terminated pursuant to subsections (b), (c) or (d) above or for any other reason (other than Disability), the date
specified in the Notice of Termination (which, in the case of a termination pursuant to subsection (b) above, shall not be 

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less than 10 days, and, in the case of a termination pursuant to subsection (c) or (d) above, shall not be less than 10 nor more than 30 days, respectively, from the date
such Notice of Termination is given). 

    (g)  Dispute of Termination.  If, within 10 days after any Notice of Termination is given, the
party receiving such Notice of Termination notifies the other party that a dispute exists concerning the termination, the Date of Termination shall be the date on which the dispute is finally
determined, either by mutual written agreement of the parties, or by a final judgment, order or decree of a court of competent jurisdiction (which is not appealable or the time for appeal therefrom
having expired and no appeal having been perfected); provided, that the Date of Termination shall be extended by a notice of dispute only if such notice is given in good faith and the party giving
such notice pursues the resolution of such dispute with reasonable diligence. Notwithstanding the pendency of any such dispute, Company shall continue to pay the Executive full compensation in effect
when the notice giving rise to the dispute was given (including, but not limited to, base salary) and continue the Executive as a participant in all compensation, benefit and insurance plans in which
the Executive was participating when the notice giving rise to the dispute was given, until the dispute is finally resolved in accordance with this subsection. Amounts paid under this subsection are
in addition to all other amounts due under this Agreement and, except as provided in Section 4(d)(v), shall not be offset against or reduce any other amounts under this Agreement. 

    4.  Compensation Upon Termination or During Disability.  Upon termination of the Executive's employment
(or, with respect to Section 4(a), during a period of Disability) following a Change in Control, as defined in Section 2(a), of Company or if there shall be a termination by Company of
the Executive's employment prior to a Change in Control, or the Executive shall terminate employment with Company for Good Reason prior to a Change in Control (for which purpose the references in
Section 3(c) to changes from circumstances existing immediately prior to or at the time of a Change in Control that constitute Good Reason for termination shall instead be deemed to be
references to circumstances existing immediately prior to or at the time that the Change in Control is first anticipated), and the Executive reasonably demonstrates that such termination by Company or
event constituting Good Reason for termination by the Executive (x) was requested by a third party that had previously taken other steps reasonably calculated to result in a Change in Control
described in Section 2(a)(i), 2(a)(ii), 2(a)(iii) or 2(a)(iv) and ultimately resulting in such a Change in Control following termination of the Executive's employment or
(y) otherwise arose in connection with or in anticipation of a Change in Control described in Section 2(a)(i), 2(a)(ii), 2(a)(iii) or 2(a)(iv) that ultimately occurs
following termination of the Executive's employment, the Executive shall be entitled to the following benefits: 

    (a) Except
as provided in Section 4(b), during any period that the Executive fails to perform full-time duties with Company as a result of
Disability, Company shall pay the Executive the base salary of the Executive at the rate in effect at the commencement of any such period, until such time as the Executive is determined to be eligible
for long term disability benefits in accordance with Company's insurance programs then in effect. 

    (b) If
the Executive's employment shall be terminated by Company for Cause or Disability or by the Executive, following a Change in Control, other than for Good Reason,
Company shall pay to the Executive his or her full base salary through the Date of Termination at the rate in effect at the time Notice of Termination is given and Company shall have no further
obligation to the Executive under this Agreement. 

    (c) If
the Executive's employment shall be terminated by Company for Cause or Disability, or is terminated by reason of death, Company shall immediately cause to be
commenced payment to the Executive (or the Executive's designated beneficiaries or estate, if no beneficiary is designated) 

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of any and all benefits to which the Executive is entitled, if any, under Company's insurance programs then in effect. 

    (d) Except
for termination of the Executive's employment with Company by reason of death, if the Executive's employment with Company shall be terminated (A) by
Company other than for Cause or Disability or (B) by the Executive for Good Reason, then the Executive shall be entitled to the benefits provided below: 

     (i) Company
shall pay the Executive the Executive's full base salary through the Date of Termination at the rate in effect at the time the Notice of Termination is
given. 

    (ii) In
lieu of any further salary payments for periods subsequent to the Date of Termination, Company shall pay as a severance payment (the "Severance Payment") an
amount equal to (A) three (3) times (subject to reduction pursuant to Section 3(d) in the event of a termination of employment by the Executive pursuant to Section 3(d))
the average of the annual compensation which was paid to the Executive by Company (or any corporation affiliated with Company within the meaning of Section 1504 of the Internal Revenue Code of
1986, as amended (the "Code")) and includible in the Executive's gross income for federal income tax purposes for the shorter of the period consisting of (1) the five most recently completed
taxable years of the Executive ending before the earlier of the first Change in Control (for which purpose the first Change in Control shall not be deemed to be a Change in Control pursuant to
Section 2(a)(v) unless the Executive's termination of employment with Company occurs prior to the first Change in Control pursuant to Section 2(a)(i), 2(a)(ii),
2(a)(iii) or 2(a)(iv)) or (2) that portion of such five-year period during which the Executive was employed by Company, less (B) $1.00. Such average shall be
determined in accordance with temporary or final regulations promulgated under Section 280G(d) of the Code or any successor provision thereto. The Severance Payment shall be made in full within
60 days after termination of employment. Such Severance Payment shall be reduced by any severance pay that the Executive receives from Company, any subsidiary of Company or any successor
thereof under any other policy or agreement of Company in the event of involuntary termination of the Executive's employment. 

    (iii) For
a 36 month period after the Date of Termination, Company shall arrange to provide the Executive with life, disability, accident and health insurance
benefits substantially similar to those which the Executive is receiving or entitled to receive immediately prior to the Notice of Termination. Benefits otherwise receivable by the Executive pursuant
to this paragraph (iii) shall be reduced to the extent comparable benefits are actually received by the Executive from another employer or other third party during such 36 month period,
and any such benefits actually received by the Executive shall be reported to Company. 

    (iv) Company
shall also pay to the Executive all legal fees and expenses incurred by the Executive as a result of such termination (including all such fees and
expenses, if any, incurred in contesting or disputing any such termination or in seeking to obtain or enforce any right or benefit provided by this Agreement). 

    (v) Notwithstanding
any provision to the contrary contained herein except the last sentence of this Section 4(d)(v), if the lump sum cash payment due and the
other benefits to which the Executive shall become entitled under this Section 4 hereof, either alone or together with other payments in the nature of compensation to the Executive which are
contingent on a change in the ownership or effective control of Company or in the ownership of a substantial portion of the assets of Company or otherwise, would constitute a "parachute payment" as
defined in Section 280G of the Code or any successor provision thereto, such lump sum payment and/or such other benefits and payments shall be reduced (but not below zero) to the largest
aggregate amount as will result in no portion thereof being subject to the 

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excise tax imposed under Section 4999 of the Code (or any successor provision thereto) or being non-deductible to Company for federal income tax purposes pursuant to
Section 280G of the Code (or any successor provision thereto). The Executive in good faith shall determine the amount of any reduction to be made pursuant to this
Section 4(d)(v) and shall select from among the foregoing benefits and payments those which shall be reduced. No modification of, or successor provision to, Section 280G or
Section 4999 subsequent to the date of this Agreement shall, however, reduce the benefits to which the Executive would be entitled under this Agreement in the absence of this
Section 4(d)(v) to a greater extent than they would have been reduced if Section 280G and Section 4999 had not been modified or superseded subsequent to the date of this
Agreement, notwithstanding anything to the contrary provided in the first sentence of this Section 4(d)(v). 

    (e) The
Executive shall not be required to mitigate the amount of any payment provided for in this Section 4 by seeking other employment or otherwise, nor shall
the amount of any payment or benefit provided for in this Section 4 be reduced by any compensation earned by the Executive as the result of employment by another employer or by retirement
benefits after the Date of Termination, or otherwise except as specifically provided in this Section 4. 

    (f)  In
addition to all other amounts payable to the Executive under this Section 4, the Executive shall be entitled to receive all benefits payable to the
Executive under any other plan or agreement relating to retirement benefits except as specifically provided in this Section 4. 

    (g) If
Company fails to make any payment at the times and in the amounts specified herein, or with respect to any fringe benefits, fails to provide such benefit as
specified herein, within 10 days from the date of written notice from the Executive to Company of such failure, Company shall be deemed to have waived any right to enforce any restriction on
employment or non-competition provision contained in any agreement between Company and the Executive then in existence which limits the ability of the
Executive to accept other employment and, thereafter, the Executive may work or consult for any person or business organization which is engaged in the design, development, assembly, manufacture,
marketing or sale of any product which competes with any product of Company, or for any person or business organization which is in competition with Company, without liability to Company for such
acts. A waiver of such restrictive covenant or non-competition provision shall not in any way restrict or limit the Executive's right to enforce the provisions of this Agreement, including
any legal or equitable action to enforce any and all payments, rights or benefits under this Agreement, it being the intention of this subsection that such waiver shall be in addition to, not in
substitution of, any other rights to which the Executive is entitled hereunder. Once waived, any such restrictive covenant or non-competition provision shall not thereafter be enforceable
even though the Executive may later receive the payment, right or benefit which was the basis of the waiver of such restrictive covenant or non-competition provision. 

    5.  Funding of Payments.  In order to assure the performance of Company or its successor of its
obligations under this Agreement, Company may deposit in trust an amount equal to the maximum payment that will be due the Executive under the terms hereof. Under a written trust instrument, the
Trustee shall be instructed to pay to the Executive (or the Executive's legal representative, as the case may be) the amount to which the Executive shall be entitled under the terms hereof, and the
balance, if any, of the trust not so paid or reserved for payment shall be repaid to Company. If Company deposits funds in trust, payment shall be made no later than the occurrence of the first Change
in Control described in Section 2(a)(i), 2(a)(ii), 2(a)(iii) or 2(a)(iv). Company shall give notice of such a Change in Control to any such trustee upon any occurrence as defined herein.
If and to the extent that the Executive becomes a beneficiary of any such funds deposited in trust, Company shall give prompt notice to the Executive, which shall include a copy of the trust
instrument and amendments from time to time. The rights of the Executive under such trust instrument shall be enforceable against Company and any trustees named therein, as though the provisions of
said trust were incorporated into this 

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Agreement. If and to the extent there are not amounts in trust sufficient to pay the Executive under this Agreement, Company shall remain liable for any and all payments due to the Executive. In
accordance with the terms of such trust, at all times during the term of this Agreement, the Executive shall have no rights, other than as an unsecured general creditor of Company, to any amounts held
in trust and all trust assets shall be general assets of Company and subject to the claims of creditors of Company. 

    6.  Successors; Binding Agreement.  

    (a) Company
will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or
assets of Company to expressly assume
and agree to perform this Agreement in the same manner and to the same extent that Company would be required to perform it if no such succession had taken place. Failure of Company to obtain such
assumption and agreement prior to the effectiveness of any such succession shall be a breach of this Agreement and shall entitle the Executive to compensation from Company in the same amount and on
the same terms as he would be entitled hereunder if he terminated his employment for Good Reason following a Change in Control, except that for purposes of implementing the foregoing, the date on
which any such succession becomes effective shall be deemed the Date of Termination. 

    (b) This
Agreement shall inure to the benefit of and be enforceable by the Executive's personal or legal representatives, successors, heirs, and designated
beneficiaries. If the Executive should die while any amount would still be payable to the Executive hereunder if the Executive had continued to live, all such amounts, unless otherwise provided
herein, shall be paid in accordance with the terms of this Agreement to the Executive's designated beneficiaries, or, if there is no such designated beneficiary, to the Executive's estate. 

    7.  Notice.  For the purpose of this Agreement, notices and all other communications provided for in the
Agreement shall be in writing and shall be deemed to have been duly given when delivered or mailed by United States registered or certified mail, return receipt requested, postage
pre-paid, addressed to the last known residence address of the Executive or in the case of Company, to its principal executive office to the attention of each of the then directors of
Company with a copy to its Secretary, or to such other address as either party may have furnished to the other in writing in accordance herewith, except that notice of change of address shall be
effective only upon receipt. 

    8.  Miscellaneous.  No provision of this Agreement may be modified, waived or discharged unless such
waiver, modification or discharge is agreed to in writing and signed by the parties. No waiver by either party hereto at any time of any breach by the other party to this Agreement of, or compliance
with, any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior to similar
time. No legally binding or enforceable agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof that remain in effect have been made by either
party which are not expressly set forth in this Agreement. The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of Minnesota. 

    9.  Validity.  The invalidity or unenforceability or any provision of this Agreement shall not affect the
validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect. 

	MINNTECH CORPORATION	 	EXECUTIVE:
	 

By	 
 	 

/s/ Louis C. Cosentino	 
 	 

/s/ Barbara A. Wrigley
	 	 	
	 	

	 	 	Its President	 	Barbara A. Wrigley

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Exhibit 10(m) 

  SEPARATION AND CONSULTING AGREEMENT         

    This Separation and Consulting Agreement (the "Agreement") is made and entered into on July 17, 2000 by and between Thomas J. McGoldrick ("McGoldrick"),
a Minnesota resident, and Minntech Corporation ("Company"), a Minnesota corporation. 

BACKGROUND  

    A.  McGoldrick
has been employed by the Company for fifteen years, and has served as a Director, Vice Chairman of the Board, and as President and Chief Executive
Officer. 

    B.  By
agreement of the parties, McGoldrick's separation from the Company will be effective July 7, 2000. 

    C.  The
parties have agreed that McGoldrick will continue to render services to the Company as a consultant and will not enter into competition with the Company for
certain time periods thereafter. 

    D.  McGoldrick
will continue to serve as a Director of the Company until the expiration of his current term. 

    E.  The
parties are concluding their employment relationship amicably, but mutually recognize that any employment relationship may give rise to potential claims or
liabilities. 

    F.  The
parties expressly deny that they may be liable to each other on any basis or that they have engaged in any improper or unlawful conduct or wrongdoing against
each other, and McGoldrick and the Company desire to resolve all issues potentially in dispute between them. 

    G.  McGoldrick
and the Company have agreed to a full settlement of all issues potentially in dispute between them. 

    H.  One
of the purposes of this Agreement is to provide for the exchange of consideration between the parties, to provide for the exchange of releases of claims and
potential claims between the parties, and to consolidate within one document the parties' continuing obligations to each other. 

    NOW,
THEREFORE, in consideration of the mutual promises and provisions contained in this Agreement and the Releases referred to below, the parties agree as follows: 

    1.  Release of Claims by McGoldrick.  Concurrently with the execution of this
Agreement, McGoldrick will execute a release, in the form attached to this Agreement as Exhibit A ("McGoldrick Release"), in favor of the Company, its insurers, affiliates, divisions,
directors, officers, employees, agents, successors, and assigns. This Agreement shall not be interpreted or construed to limit the McGoldrick Release in any manner. The existence of any dispute
respecting the interpretation of this Agreement or the alleged breach of this Agreement will not nullify or otherwise affect the validity or enforceability of the McGoldrick Release. 

    2.  Release of Claims by the Company.  Concurrently with the execution of this
Agreement, the Company will also execute a release, in the form attached to this Agreement as Exhibit B ("Minntech Release"), in favor of McGoldrick and his heirs, successors, representatives,
and assigns. This Agreement shall not be interpreted or construed to limit the Minntech Release in any manner. The existence of any dispute respecting the interpretation of this Agreement or the
alleged breach of this Agreement will not nullify or otherwise affect the validity or enforceability of the Minntech Release. 

    3.  Consulting Relationship.  McGoldrick will become a consultant to the Company
and shall perform such services for the Company as set forth in this paragraph 3. 

    a.  Term.  McGoldrick's consultancy with the Company shall begin on July 8, 2000 and end on
July 7, 2001 (the "Consultancy Period"). 

    b.  Status.  As a consultant to the Company, McGoldrick shall be an independent contractor and not an
employee of the Company. 

    c.  Reporting Relationship.  McGoldrick will interact with and report to the Company's Chairman and Chief
Executive Officer (the "CEO"). 

    d.  Duties.  McGoldrick shall perform work for the Company at the Company's request, subject to the
limitations described in subparagraph 3.e., related to the Company's business. By way of example, McGoldrick shall consult with and advise the Company's senior managers and other Directors at their
request at mutually agreed upon times concerning the general business of the Company. During the Consultancy Period the Company shall provide McGoldrick with files and other information that he
reasonably requires to perform his duties as a consultant to the Company. 

    e.  Time.  At the Company's request, McGoldrick will devote up to an average of 4 hours per month
to his duties as a Consultant. 

    f.  Location.  McGoldrick will perform his duties as a consultant at any location chosen by him
(including his residence). 

    g.  Expenses.  The Company will reimburse McGoldrick for his actual operating expenses as a consultant,
such as long-distance telephone and facsimile charges and copier expense. In addition, the Company will reimburse McGoldrick for his actual travel expenses, such as registration fees, air
fare, hotel, meals, ground transportation, and incidentals, for his attendance at industry trade shows outside the Twin Cities metropolitan area, so long as McGoldrick's attendance at a given trade
show is requested and approved in advance by the CEO. McGoldrick will be responsible for submitting to the CEO a report on a form provided by the Company showing all of his monthly operating expenses
and travel expenses as a consultant to the Company with supporting documentation. The Company will make reimbursement payments to McGoldrick within 30 days following the Company's receipt of an
expense report from him. 

    h.  Intellectual Property.  

     (i) All
Inventions related to Minntech Products (defined in subparagraph 8(a)(iii) below) made by McGoldrick during the Consultancy Period are the exclusive
property of the Company unless released to McGoldrick in writing by the CEO. 

    (ii) Except
as otherwise provided in subparagraph h.(iii)B. below, the Company will not be required to designate McGoldrick as inventor of any invention or author or
any related documentation distributed publicly or otherwise. McGoldrick waives and releases, to the extent permitted by law, all rights to the foregoing. 

    (iii) McGoldrick
further agrees that he will: 

    A.  promptly
and fully disclose all Inventions in writing to the CEO; such disclosure will include, if requested, a detailed report of the procedures employed and the
results achieved by McGoldrick; and 

    B.  give
the Company all assistance it requires to perfect, protect, and use its rights to Inventions, including, but not limited to, signing all documents, doing all
things, and supplying all information that the Company may deem necessary or desirable to: (1) transfer or record the transfer of McGoldrick's entire right, title, and interest in Inventions to
the Company, and (2) enable the Company to obtain and maintain patent, copyright, or trademark protection for Inventions anywhere in the world. 

    (iv) The
obligations of this subparagraph 3.h. will continue beyond the end of the Consultancy Period with respect to Inventions conceived or made by McGoldrick during
the 

2

Consultancy Period. For purposes of this Agreement, any Invention relating to existing or reasonably foreseeable Minntech Products or related to areas in which McGoldrick provides consulting services
and for which McGoldrick files a patent application within one year after the end of the Consultancy Period will be presumed to be an Invention conceived by McGoldrick during the Consultancy Period,
subject to proof to the contrary that such Invention was conceived and made following termination of the Consultancy Period. 

    (v) For
purposes of this subparagraph 3.h., "Invention" means any invention, discovery, improvement, concept, idea, method of doing business whether or not patentable
(including those which may be subject to copyright protection), including, but not limited to, computer software and hardware technology, machines, devices, processes, methods, techniques, and
formulae which are generated, conceived, or reduced to practice by McGoldrick alone or in conjunction with others, during or after working hours, while serving as a consultant to the Company. 

    (vi) McGoldrick
is hereby notified that this Agreement does not apply to any invention for which no equipment, supplies, facility, trade secret information, or
Confidential Information (defined in subparagraph 8.(a)(iv) below) of the Company was used and which was developed entirely on McGoldrick's own time, and (1) which does not relate
directly to the existing business of the Company or to the Company's actual or reasonably foreseeable research or development; or (2) which does not result from any work performed by McGoldrick
for the Company. 

    i.  Termination.  McGoldrick's consultancy with the Company will end immediately upon
(i) McGoldrick's death or disability; (ii) McGoldrick's receipt of written notice from the Company of the termination of McGoldrick's consultancy for Cause; or (iii) upon
expiration of the term of the consultancy. The date on which the consultancy ends will be the "Consultancy Termination Date." 

    j.  Payments upon Termination.  (i) If McGoldrick's consultancy ends by reason of expiration of
the term of the consultancyor if McGoldrick dies or becomes disabled prior to July 7, 2001, then the Company will pay McGoldrick's Consultant's Fee through the end of the Consultancy Period. 

    (ii) If
McGoldrick's consultancy ends by reason of termination by the Company for Cause, then the Company shall pay McGoldrick's Consultant's Fee through the end of the
month in which the Consultancy Termination Date occurs. Termination of McGoldrick's consultancy by the Company for Cause as used herein shall mean termination for: 

    A.  McGoldrick's
failure or refusal to perform his duties as a consultant under this Agreement, provided that the Company first gives McGoldrick written notice of such
failure or refusal and allows him 30 days thereafter to remedy or correct such failure or refusal; or 

    B.  material
breach of the Agreement by McGoldrick provided that the Company first gives McGoldrick written notice of such breach and allows him 30 days
thereafter to remedy or correct such breach. 

"Disability"
as used herein shall mean the inability of McGoldrick to perform his duties as a consultant by reason of illness or other physical or mental impairment or condition, if such inability
continues for an uninterrupted period of 90 hours or more. A period of inability will be "uninterrupted" unless and until McGoldrick is able to work as a consultant for a continuous period of
at least 30 hours per month. 

3

    (iii) If the Company terminates McGoldrick's consultancy for Cause under Section 2.i.(ii), any exercisable Stock Options shall be exercisable for a period of
90 days from the date of such notice of termination, unless the Company terminates this Agreement for material breach under Section 8.a.,8.c. or 13 in which case any exercisable Stock
Options shall be exercisable until the end of the business day following the day that McGoldrick receives written notice of such termination by the Company, and this Agreement shall terminate.
Notwithstanding the foregoing, Sections 1, 2, 3(h), 3(j), 7, 8, 9, 10, 11, 12, 13, 14, 15, 17, 20, 21, 22, 23, 24, 25, 29 and 30 and the time periods stated therein, if any, shall survive any such
termination. 

    4.  Payments.  In consideration of McGoldrick's past services to the Company as a
director, employee, and officer of the Company and his agreements to continue to render services to the Company as a consultant and not to enter into competition with the Company as provided in this
Agreement, the Company will make the payments set forth in subparagraph 4.a. below to McGoldrick or for his benefit, but only if (i) McGoldrick has not rescinded this Agreement or the
McGoldrick Release within the applicable rescission period; and (ii) the Company has received written confirmation from McGoldrick, in the form attached to this Agreement as Exhibit C,
dated not earlier than the day after the expiration of the applicable rescission period, that McGoldrick has not rescinded and will not rescind this Agreement or the McGoldrick Release. Payment of any
amount set forth below will not modify or terminate the parties' obligations to each other as established by this Agreement. The payments set forth below will be sent by first-class mail to
McGoldrick's last known residence address, unless he advises the Company in writing that he wants the payments sent to a different address. 

    a.  Consultancy Fee.  The Company shall pay McGoldrick (or his designated beneficiary or estate, as the
case may be) a total amount equal to $276,917, in 26 approximately equal bi-monthly installments less applicable payroll and legal withholding taxes during the period from July 8,
2000 through July 7, 2001; provided, however, that no installment will be paid to McGoldrick before the second business day following the expiration of the applicable rescission period (the
"Payment Date"). Any installments otherwise due prior to the Payment Date will not be forfeited but will be paid to McGoldrick on the Payment Date. The Company shall also pay to McGoldrick on
July 7, 2000 a lump sum payment $11,715.44 less applicable payroll and legal withholding taxes for earned vacation of 15 days. 

    b.  Loan Outstanding.  McGoldrick acknowledges that he owes the Company an amount equal to $63,787.87 in
accordance with that certain Promissory Note dated April 14, 1997 between the Company and McGoldrick, attached hereto as Exhibit D. At such time as the Company owes McGoldrick, in
accordance with the terms of this Agreement, an amount equal to $63,787.87 plus interest accruing thereon at the rate of 6.49% per annum from the Effective Date of this Agreement, then McGoldrick
shall pay such amount to the Company in full upon written notice thereof. If the Company does not receive such amount from McGoldrick then the Company shall have the right of offset against all
remaining amounts owing to McGoldrick under the terms of this Agreement and McGoldrick waives any rights he may have against the Company to such amount. 

    c.  Auto.  On the Effective Date, McGoldrick shall pay to the Company an amount equal to $22,215.20,
which amount the parties agree is the fair market value of the 1997 Audi Cabriolet (VIN#WAUAA87G7VN003356) provided to McGoldrick by the Company. Upon payment of such amount, the Company shall assign
the title to the car to McGoldrick. If McGoldrick does not pay such amount then on July 7, 2000 he shall turn the keys and the car into the Company's CEO. 

    d.  Beneficiary Designation.  Any designation of a beneficiary for purposes of subparagraphs 4.a. above
must be made by McGoldrick in writing and must be furnished to the Company's Executive Vice President and General Counsel. If no effective beneficiary designation is on file with the Company at the
time of McGoldrick's death, then any remaining Consultant's Fee will be paid to his estate. 

4

    5.  Stock Options.  (a) McGoldrick is a participant in the Company's 1989
and 1998 Stock Option Plans (the "Stock Plans"). Under the terms of the Stock Plans and McGoldrick's agreements relating to options to purchase shares of the Company's common stock (the "Option
Agreements"), as of July 7, 2000 McGoldrick is fully vested in options to purchase a total of 217,000 shares of the common stock of the Company, which are listed in Schedule 1 attached
to this Agreement (the "Stock Options"). McGoldrick understands that if he does not exercise his incentive stock options to purchase 47,562 shares of common stock of the Company (the "47,562 Shares")
on or before October 7, 2000, then the 47,562 Shares will become nonqualified stock options. McGoldrick also understands that options to purchase 30,000 shares of the common stock of the
Company (the "30,000 Shares") must be exercised on or before April 2, 2001 as set forth in the attached Schedule 1; if he does not exercise the 30,000 Shares by that date, then the
30,000 Shares will lapse. All other remaining options (187,000 shares) shall be exercisable during the term of this Agreement until the end of the business day on July 7, 2001, thus extending
the period to exercise such options under the Option Agreements in respect thereof by an additional nine-month period. 

    (b) If
McGoldrick rescinds this Agreement and the McGoldrick Release prior to the termination of the applicable rescission period, then he must exercise the 217,000
shares on or before October 7, 2000. If McGoldrick does not rescind this Agreement and the McGoldrick Release, then the Board will take the required action to extend the time for McGoldrick to
exercise any stock options held by him that were not previously exercised until the earlier of July 7, 2001 or three months after the Company has given McGoldrick notice in writing that he is
in violation of the terms of this Agreement under Sections 8.a., 8.b., 8.c., 14, 15, or 16. 

    6.  Insurance Continuation.  

    a.  Health Insurance.  During the Consultancy Period the Company shall make group health insurance and
supplemental life insurance available to McGoldrick on the same basis and on the same terms that such insurance is made available to senior executives of the Company. The Company will pay the same
portion of the premium as the Company pays for its senior executives for such coverage, and any portion of the premium for such coverage payable by McGoldrick will be paid by him at least monthly on
or before the last day of each month during which he is subject to such coverage. The Company will have no obligation to pay any portion of any premiums for either group health insurance coverage or
for an individual health insurance policy provided by the Company after the month in which the Consultancy Period ends. McGoldrick acknowledges that his separation from the Company as of
July 7, 2000 is a qualifying event under COBRA and that his right to elect under COBRA health insurance coverage provided by the Company will terminate no later than January 7, 2002 as
provided by current law. If the Consultancy Period ends for any reason prior to January 7, 2002, then McGoldrick will have the right to elect under COBRA group health insurance coverage
provided by the Company under such terms existing at the time of such election as are made available to similarly-situated former employees of the Company, provided that McGoldrick pays
102 percent of the cost of the health insurance option selected by McGoldrick and provided by the Company as provided by law until January 7, 2002, or until he obtains other qualifying
group coverage or his COBRA rights terminate for some other reason, if earlier. 

    b.  Life Insurance.  McGoldrick will have the right to continue his group life insurance and supplemental
life insurance coverage after July 7, 2000 under Minnesota law under such terms as are made available to similarly-situated former employees of the Company, provided that McGoldrick pays
102 percent of the cost of that insurance as provided by law, for 18 months, or until he obtains other qualifying group coverage or his statutory rights terminate for some other reason,
if earlier. 

5

    7.  Retirement Plans.  McGoldrick is a participant in the Minntech Profit Sharing
and Retirement Plan and in the Supplemental Executive Retirement Plan (the "Retirement Plans"). McGoldrick will be entitled to begin drawing his retirement benefits at the times and under the terms
and conditions set forth in the Retirement Plans. 

    8.  No-Competition, Non-Solicitation, and Non-Disclosure
Agreements.  

    a.  Agreement Not to Compete.  

     (i) McGoldrick
will not, on or before July 7, 2003, without the prior written consent of the Company, either directly or indirectly through third parties, on his
own account or in the service of others, engage in the design, development, assembly, manufacture, marketing, or sale of a Competitive Product in any area or territory in which the Company engages or
will have engaged in business during the Consultancy Period. 

    (ii) For
purposes of this Agreement "Competitive Product" means any product, process, or service (including any component thereof or research to develop information
useful in connection with a product or service) that is being designed, developed, assembled, manufactured, marketed, or sold by anyone other than the Company and which is of the same general type,
performs similar functions, competes with, or is used for the same purposes as an existing or reasonably foreseeable Minntech Product. 

    (iii) For
purposes of this Agreement "Minntech Product" means any existing product, process, or service or reasonably foreseeable product, process or service (including
any component thereof or research to develop information useful in connection with a product or service) that, within three years prior to the termination or expiration of the Consultancy Period, was
being designed, developed, assembled, manufactured, marketed, or sold by the Company, or with respect to which the Company had acquired Confidential Information which it intends to use in the design,
development, manufacture, assembly, or sale of a product or service. Notwithstanding the foregoing, the definition of Minntech Product shall specifically exclude those products that the Company has
divested of and ceased selling and/or has abandoned excluding oxygenators, cardioplegia heater coolers, and cardioplegia heat exchanges. 

    (iv) For
purposes of this Agreement "Confidential Information" means information not generally known, including trade secrets, about the Company's methods, processes,
and products, including, but
not limited to, information relating to such matters as research and development, manufacturing methods, processes, techniques, chemical composition of materials, applications for particular
technologies, materials or designs, vendor names, customer lists, management systems, and sales and marketing plans. All information disclosed to McGoldrick or to which McGoldrick has access during
the Consultancy Period or had access during the time of his employment with the Company, which he has a reasonable basis to believe is Confidential Information or which is treated by the Company as
Confidential Information, will be presumed to be Confidential Information. Confidential Information shall exclude information that (i) is in the public domain or otherwise becomes part of the
public domain through no fault of McGoldrick; (ii) McGoldrick can verify was in his lawful possession prior to having received the Confidential Information from the Company; (iii) is
received by McGoldrick from a third party without a breach of confidentiality owed by the third party to the Company; (iv) McGoldrick can verify was independently developed by him without
having knowledge of the Company's Confidential Information; or (v) the disclosure of which may be necessary by reason of legal or regulatory requirements (provided that McGoldrick first gives
reasonable notice to the Company to permit it to oppose such requirement). 

6

    b.  Agreement Not to Solicit Employees.  McGoldrick will not, on or before July 7, 2003, without
the prior written consent of the Company, solicit any person who is then employed by or otherwise engaged to perform services for the Company to terminate his or her relationship with the Company or
interfere with the Company's relationship with any such person. McGoldrick will not, on or before July 7, 2003, without the prior written consent of the Company, provide substantive or
qualitative information regarding any person who is then employed by or otherwise engaged to perform services for the Company to any person or entity engaged in the design, development, assembly,
manufacture, marketing, or sale of a Competitive Product in any area or territory in which the Company engages or will have engaged in business during Consultancy Period. 

    c.  Agreement Not to Disclose Confidential Information.  (i) McGoldrick will not, without the
prior written consent of the Company, directly or indirectly use or disclose Confidential Information for the benefit of anyone other than the Company, either during or after the Consultancy Period or
during or after the time of his employment with the Company. McGoldrick will hold secret and confidential all Confidential Information of the Company concerning which McGoldrick has acquired knowledge
or information during the Consultancy Period or during the time of his employment with the Company. McGoldrick will not disregard his obligations of confidence by using any trade secret or other
confidential business and/or technical information of which he becomes informed during the Consultancy Period or was informed during his employment to guide him in a search of publications or other
publicly available information, selecting a series of items of knowledge from unconnected sources, and fitting them together to claim that he did not violate any agreements set forth in this
Agreement. 

    (ii) In
addition to the foregoing, in no event shall Confidential Information be used by McGoldrick or any of McGoldrick's affiliates (as defined in Section 13)
in connection with purchases or sales of, or trading in, any securities of the Company, including but not limited to direct or indirect purchases or sales, offers or agreements to purchase or sell, or
rights or options to purchase or sell any such securities. McGoldrick acknowledges that he is aware of his responsibilities under United States federal and state securities laws with respect to
trading in securities while in possession of material non-public information obtained from the issuer of such securities and with respect to providing such information to other persons who
purchase or sell securities of such issuer. 

    d.  Scope of Restrictions.  The parties intend that, if any court of competent jurisdiction holds that
any restriction in subparagraphs 8.a. through 8.c. above exceeds the limit of restrictions that are enforceable under applicable law, then the restriction will nevertheless apply to the maximum extent
that is enforceable under applicable law. 

    9.  Company Cooperation.  The Company will ensure that all proper steps are
followed to comply with McGoldrick's written instructions with respect to his stock options, retirement benefits, and health and life insurance benefits, and will provide him with information that he
reasonably requires in accordance with the applicable employee benefit plans sponsored by the Company in which he is a participant. 

    10.  Indemnification.  Notwithstanding McGoldrick's separation from the Company,
with respect to events that occurred during his tenure as an employee or officer of the Company, McGoldrick will be entitled, as a former employee or officer of the Company, to the same rights that
are afforded to senior executive officers of the Company, now or in the future, to indemnification and advancement of expenses provided in the charter documents of the Company and under applicable law
or otherwise, and to coverage and a legal defense under any applicable general liability and/or directors' and officers' liability insurance policies maintained by the Company. 

7

    11.  McGoldrick Representation.  McGoldrick represents that, during the entire
period that he was an employee or officer of the Company, he acted in good faith, had no reasonable cause to believe that his conduct was unlawful, and reasonably believed that his conduct was in the
best interests of the Company. The parties intend that the terms used in this paragraph will have the same meaning as the same terms used in paragraph 302A.531 of the Minnesota Statutes. 

    12.  Company Representation.  The Company represents that on the date of this
Agreement no transaction or other event has occurred that would constitute a "Change in Control" as that term is defined in the Management Agreement dated September 1, 1996 between McGoldrick
and the Company. McGoldrick acknowledges that he will be relinquishing his rights under the Management Agreement upon execution of this Agreement and the McGoldrick Release of Claims. 

    13.  Standstill.  McGoldrick agrees that during the Standstill Period (as
hereinafter defined), McGoldrick and his affiliates [as such term is defined in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the "Exchange
Act")] will not (and he and they will not assist or encourage others to), directly or indirectly: 

    (a) Acquire
or agree, offer, seek, request permission or propose to acquire, or cause to be acquired (by merger, tender offer, purchase, statutory share exchange or
otherwise), ownership (including, but not limited to, beneficial ownership as defined in Rule 13d-3 under the Exchange Act) of any of the Company's assets (other than acquisitions
of inventory in the ordinary course of business) or businesses or any voting stock that would result in beneficial ownership by you and your affiliates of voting stock of the Company in excess of 4%
of the total voting power of the outstanding shares of stock of the Company in the aggregate, for which purpose any rights or options (including without limitation convertible securities) to acquire
such ownership of voting stock shall constitute beneficial ownership of such voting stock, regardless of when they are exercisable (except, in each event, pursuant to any proposal expressly solicited
by the Chief Executive Officer of the Company, and in such event such proposal shall not be pursued by you or your affiliates if you are hereafter advised by the Chief Executive Officer of the Company
that the Company is no longer interested in pursuing such proposal, provided, however, that nothing contained herein shall preclude you from orally contacting the Chief Executive Officer of the
Company to inform him that you are interested in pursuing such a proposal if invited to do so by the Chief Executive Office of the Company); or 

    (b) seek
or propose to influence or control the management or policies of the Company or to obtain representation on the Company's Board of Directors, or solicit, or
participate in the solicitation of, proxies or consents with respect to any securities of the Company in connection with the election of directors or any other matter or disclose to the public by
press release or other communication its or their position concerning the election of directors or any other matter to be considered by the shareholders of the Company, or request permission to do any
of the foregoing; or 

    (c) make
any other public announcement with respect to any of the foregoing; or 

    (d) enter
into any discussions, negotiations, arrangements or understandings with any third party with respect to any of the foregoing; or 

    (e) contact
any employee, representative, agent, or Board member of the Company other than the Company's Chief Executive Officer to request that the Company, directly
or indirectly, waive or amend any provision of this paragraph 13. 

As
used herein, the Standstill Period means the period commencing as of the date hereof and terminating one year from the date hereof. McGoldrick covenants that as of the date hereof neither he nor
any of his affiliates are engaged in any discussions regarding any acquisition proposal and that any prior discussions regarding any acquisition proposal have been terminated. 

8

    14.  Mutual Non-Disparagement.  McGoldrick will not disparage,
defame, or besmirch the reputation, character, image, products, or services of the Company, or the reputation or character of its directors, officers, employees, or agents. The Company will not
disparage, defame, or besmirch the reputation, character, talents, skills, business reputation, or image of McGoldrick. 

    15.  Claims and Actions Involving the Company.  During the period commencing on
the Effective Date and ending two years from the Effective Date, McGoldrick will not recommend or suggest to any potential claimants or plaintiffs or their attorneys or agents that they initiate
claims or lawsuits against the Company, any of its affiliates or divisions, or any of its or their directors, officers, employees, or agents, nor will McGoldrick voluntarily aid, assist, or cooperate
with any claimants or plaintiffs or their attorneys or agents in any claims or lawsuits now pending or commenced in the future against the Company, any of its affiliates or divisions, or any of its or
their directors, officers, employees, or agents; provided, however, that this paragraph will not be interpreted or construed to prevent McGoldrick from giving testimony in response to questions asked
pursuant to a legally enforceable subpoena, deposition notice, or other legal process, during any legal proceedings involving the Company, any of its affiliates or divisions, or any of its or their
directors, officers, employees, or agents. 

    16.  Waiver of Notice.  Concurrently with the execution of this Agreement,
McGoldrick shall execute a Waiver of Notice in substantially the form attached hereto as Exhibit E. 

    17.  Company Property.  The Company hereby sells to McGoldrick for $1.00
(i) the mobile telephone the Company has previously provided to him and agrees to allow McGoldrick the use of the mobile telephone for business purposes up to a maximum charge of $50 per month
until the earlier of (x) the expiration of the Consultancy Period or (y) upon full-time employment by a third party; (ii) the personal computer, lap top computer, and
fax machine the Company has previously provided to him. McGoldrick shall return to the Company all other equipment, records, correspondence, documents, financial data, plans, computer disks, and other
tangible property in his possession and all copies thereof, if any, belonging to the Company, wheresoever located. McGoldrick acknowledges that all files related to the Company's business that may
have been downloaded onto his personal computer during his employment with the Company and all copies thereof constitute confidential information of the Company and is the property of the Company for
purposes of this paragraph 16 and shall be returned to the Company and otherwise immediately deleted from all computer systems under McGoldrick's control. 

    18.  Time to Consider Agreement.  Because this Agreement includes a release of
any rights McGoldrick may have under the Age Discrimination in Employment Act, under federal law the parties acknowledge that McGoldrick is entitled to a period of at least 21 days from receipt
of this Agreement to decide whether to sign this Agreement and the McGoldrick Release, which 21 day period will commence on the date on which McGoldrick receives copies of this Agreement and
the McGoldrick Release for review. McGoldrick represents that if he signs this Agreement and the McGoldrick Release before the expiration of the 21 day period, it is because he has decided that
he does not need any additional time to decide whether to sign this Agreement and the McGoldrick Release. 

    19.  Right to Rescind or Revoke.  McGoldrick understands that he has the right to
rescind or revoke this Agreement and the McGoldrick Release for any reason within 15 calendar days after he signs them (which 15-day period expressly includes any other shorter time
periods provided by law). McGoldrick understands that this Agreement and the McGoldrick Release will not become effective or enforceable unless and until he has not rescinded this Agreement and the
McGoldrick Release and any applicable rescission period has expired. McGoldrick understands that if he wishes to rescind, the rescission must be in writing and hand delivered or mailed to the Company.
If hand-delivered, the rescission must be (a) addressed to Ms. Barbara A. Wrigley, Executive Vice President and General Counsel, Minntech Corporation, 14605 28th Avenue
North, Minneapolis, Minnesota 55447; and (b) delivered to Ms. Wrigley within the 15-day period. If mailed, the rescission must be: (a) postmarked 

9

within the 15-day period; (b) addressed to Ms. Barbara A. Wrigley, Executive Vice President and General Counsel, Minntech Corporation, 14605 28th Avenue North, Minneapolis,
Minnesota 55447; and (c) sent by certified mail, return receipt requested. 

    20.  Full Compensation.  McGoldrick understands that the payments made and other
consideration provided by the Company under this Agreement will fully compensate McGoldrick for and extinguish any and all of the claims McGoldrick is releasing in the McGoldrick Release, including,
but not limited to, his claims for attorneys' fees and costs and any and all claims for any type of legal or equitable relief. 

    21.  No Admission of Wrongdoing.  McGoldrick understands that this Agreement does
not constitute an admission that the Company has violated any local ordinance, state or federal statute, or principle of common law, or that the Company has engaged in any improper or unlawful conduct
or wrongdoing against McGoldrick. McGoldrick will not characterize this Agreement or the payment of any money or other consideration made in accordance with this Agreement as an admission that the
Company has engaged in any improper or unlawful conduct or wrongdoing against him. 

    22.  Authority.  McGoldrick represents and warrants that he has the authority to
enter into this Agreement and the McGoldrick Release, and that no causes of action, claims, or demands released pursuant to this Agreement and the McGoldrick Release have been assigned to any person
or entity not a party to this Agreement and the McGoldrick Release. 

    23.  Representation.  McGoldrick acknowledges that he has had a full opportunity
to consider this Agreement and the McGoldrick Release, that he has had a full opportunity to ask any questions that he may have concerning this Agreement, the McGoldrick Release, or the settlement of
his potential claims against the Company, and that he has not relied upon any statements or representations made by the Company or its attorneys, written or oral, other than the statements and
representations that are explicitly set forth in this Agreement, the McGoldrick Release, the Minntech Release, the Stock Plans and McGoldrick's agreements relating thereto, the Retirement Plans, and
any other employee benefit plans sponsored by the Company in which McGoldrick is a participant. 

    24.  Successors and Assigns.  This Agreement will be binding upon and inure to
the benefit of the parties and their respective heirs, representatives, successors, and assigns, including, but not limited to, a purchaser of substantially all the business or assets of the Company,
but will not be assignable by either party without the prior written consent of the other party. 

    25.  Invalidity.  In the event that any provision of this Agreement, the
McGoldrick Release, or the Minntech Release is determined by a court of competent jurisdiction to be invalid, illegal, or unenforceable in any respect, such a determination will not affect the
validity, legality, or enforceability of the remaining provisions of this Agreement, the McGoldrick Release, or the Minntech Release, and the remaining provisions of this Agreement, the McGoldrick
Release, and the Minntech Release will
continue to be valid and enforceable, and any court of competent jurisdiction may modify the objectionable provision so as to make it valid and enforceable. 

    26.  Entire Agreement.  Before signing this Agreement, the McGoldrick Release,
and the Minntech Release, the parties and their representatives engaged in discussions and negotiations and generated certain documents, in which the parties and their representative considered the
matters that are the subject of this Agreement, the McGoldrick Release, and the Minntech Release. In such discussions, negotiations, and documents, the parties and their representatives may have
expressed their opinions and beliefs concerning the intentions, capabilities, and practices of the parties, and may have forecast future events. The parties recognize, however, that all business
transactions, including the transactions upon which the parties' respective opinions, beliefs, and forecasts are based, contain an element of risk, and that it is normal business practice to limit the
legal obligations of contracting parties only to those promises and representations that are essential to the transaction so as to provide certainty as to their 

10

respective future rights and remedies. Accordingly, this Agreement, the McGoldrick Release, the Minntech Release, the Stock Plans and McGoldrick's agreements relating thereto (as modified by this
Agreement), the Retirement Plans, and any other employee benefit plans sponsored by the Company in which McGoldrick is a participant are intended to define the full extent of the legally enforceable
undertakings of the parties, and no promises or representations, written or oral, that are not set forth explicitly in this Agreement, the McGoldrick Release, the Minntech Release, the Stock Plans and
McGoldrick's agreements relating thereto (as modified by this Agreement), the Retirement Plans, or any other employee benefit plans sponsored by the Company in which McGoldrick is a participant are
intended by either party to be legally binding, and all other agreements and understandings between the parties are hereby superseded. 

    27.  Headings.  The descriptive headings of the paragraphs and subparagraphs of
this Agreement are inserted for convenience only, and do not constitute a part of this Agreement. 

    28.  Counterparts.  This Agreement may be executed simultaneously in two or more
counterparts, each of which will be deemed an original, but all of which together will constitute one and the same instrument. 

    29.  Governing Law.  This Agreement, the McGoldrick Release, and the Minntech
Release will be interpreted and construed in accordance with, and any dispute or controversy arising from any breach or asserted breach of this Agreement, the McGoldrick Release, or the Minntech
Release will be governed by, the laws of Minnesota. 

    30.  Outplacement Services.  The Company shall pay directly to Lee Hecht Harrison
an amount equal to $15,000 for outplacement services for McGoldrick. 

    IN
WITNESS WHEREOF, the parties have executed this Agreement on the date first written above. 

	 	 	MINNTECH CORPORATION
	 

 	 
 	 

 Barbara A. Wrigley

Executive Vice President
	 

 	 
 	 
 MCGOLDRICK
	 

 	 
 	 

 Thomas J. McGoldrick

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SEPARATION AND CONSULTING AGREEMENT

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