Document:

LICENSE AGREEMENT

         THIS LICENSE AGREEMENT, made effective January 1, 2001, by and between
Safety Syringe Corporation, a corporation duly organized and existing under the
laws of the State of Utah and wholly owned subsidiary of Specialized Health
Products International, Inc., having an address at 585 West 500 South,
Bountiful, Utah 84010 (hereinafter referred to as "SSC") and Merit Medical
Systems, Inc., a corporation duly organized and existing under the laws of the
State of Utah having its principal place of business at 1600 West Merit Parkway,
South Jordan, UT, 84095 (hereinafter referred to as "Merit" or "LICENSEE"), SSC
and Merit being hereinafter sometimes jointly referred to as the "PARTIES."

         WHEREAS, SSC has an exclusive, royalty free, worldwide license, with
the right to sublicense others, to make, have made, use and sell products
identified as safety needle devices for angiographic guidewire introducers and
disclosed and claimed in the U.S. Patents and international patents and patent
applications listed in Exhibit A attached hereto.

         WHEREAS, Merit desires to obtain and SSC is willing to grant, rights as
defined in this Agreement with respect to the invention disclosed and described
in the U.S. Patents and international patents and patent applications listed in
Exhibit A attached hereto.

         NOW, THEREFORE, in consideration of the promises and mutual covenants
made herein and other good and valuable consideration, receipt of which is
hereby acknowledged, it is agreed by and between the PARTIES as follows:

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                                 I. DEFINITIONS

         1.1 AGREEMENT YEAR means each consecutive year measured from the first
day of January of each consecutive calendar year and ending on the last day of
such calendar year.

         1.2 GOODS means all angiographic guidewire introducer products
manufactured and sold by LICENSEE that would, but for the license granted
herein, infringe any Valid Claim (defined below).

         1.3 INVENTION means the inventions disclosed and described in the U.S.
Patents and international patents and patent applications listed in Exhibit A
attached hereto.

         1.4 LICENSEE means Merit Medical Systems, Inc., a Utah corporation.

         1.5 NET SALES means the gross invoice price at which the GOODS are
sold, FOB shipping point, less discounts, refunds, replacements or credits
allowed to purchasers for return of the GOODS, or as reimbursed for damaged
GOODS, freight, postage, shipping insurance and other shipping charges, sales
and use taxes, customs duties and any other governmental charges imposed on the
production, importation, use or sale of the GOODS, but not including charges in
the nature of income taxes applicable to Merit or any of its subsidiaries or
affiliates.

         1.6 PARTIES means SSC and Merit.

         1.7 PATENTS means those U.S. Patents and international patents listed
in Exhibit A hereto and those U.S. Patent and international Patents that have
issued or may issue from or based on (i) those patent applications listed in
Exhibit A attached hereto, (ii) any patent application that may be filed in any
country that claims the benefit of the

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filing date of any of the patents or applications listed in Exhibit A hereto,
(iii) all continuation, continuing prosecution and divisional applications based
on any of the aforementioned applications, and (iv) all reissues,
reexaminations, renewals and/or extensions thereof.

         1.8 QUARTER means the calendar quarter ending on the last day of March,
June, September and December, respectively, of each calendar year.

         1.9 SUBLICENSEES means any entity selected by Merit and approved by
SSC, such approval not to be unreasonably withheld, or delayed.

         1.10 TECHNOLOGY means all information, technical data or other know-how
which relates to the design, development, manufacture, use or sale of the
INVENTION (including but not limited to medical uses and methods, product forms,
specifications and manufacturing data) which SSC has heretofore developed or
acquired, and which SSC is free to disclose and furnish to LICENSEE hereunder.

         1.11 TERRITORY means the world.

         1.12 VALID CLAIM shall mean (a) a claim of an issued PATENT that has
not lapsed or become abandoned and that has not been declared invalid or
unenforceable by an unappealed or unappealable decision or judgment of a court
of competent jurisdiction and/or (b) a pending claim of any pending patent
application included within the definition of PATENTS; provided, however, the
term VALID CLAIM shall not include any claim of any such pending patent
applications (x) once a determination is made that such claim is not allowable
or once such claim is cancelled or otherwise withdrawn from consideration or (y)
if any such claim is not allowed within five years after the effective date of
this Agreement.

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             II. GRANT OF EXCLUSIVE LICENSE TO MANUFACTURE AND SELL

         2.1 SSC hereby grants to LICENSEE, an exclusive worldwide license under
the PATENTS and limited to the field of use of angiographic guidewire
introducers, to make, have made for it, import, use, and sell angiographic
guidewire introducer products incorporating the INVENTION.

         2.2 LICENSEE may assign its rights under this Agreement, in whole or in
part, to any subsidiary or subsidiaries, provided that such subsidiary or
subsidiaries first agrees in writing to be bound by the terms of this Agreement.
LICENSEE may engage independent contractors and/or subcontractors to manufacture
GOODS and/or assist LICENSEE with regard to the performance of any particular
aspect of this Agreement, provided such independent contractors or
subcontractors execute confidentiality or non-disclosure agreements with respect
to the INVENTION or the portions of the INVENTION with which they may come in
contact or acquire knowledge.

                          III. EFFECTIVE DATE AND TERM

         This Agreement is effective on the date first above written and will
remain in effect until the expiration of the last to expire of the PATENTS or
any other patent or patents licensed or provided for hereunder. After such
expiration, LICENSEE and SSC shall have the right to make, use and sell the
INVENTION without payment or royalty or otherwise accounting to the other.

                          IV.OBLIGATIONS OF THE PARTIES

         4.1 At LICENSEE's discretion and request, SSC shall provide technical
assistance to LICENSEE and otherwise assist LICENSEE in the design of commercial
products embodying the INVENTION, which will be provided on an as needed basis
at an hourly rate of Seventy Five Dollars ($75), assuming availability of
engineering

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assistance. However, it is understood that the final responsibility for the
design and development of commercial products embodying the INVENTION is that of
LICENSEE.

         4.2 SSC shall assist LICENSEE in obtaining any necessary approvals from
U.S. regulatory agencies, if necessary, and/or the regulatory agencies of any
foreign countries. LICENSEE shall be responsible for obtaining approvals from
foreign country regulatory agencies.

         4.3 LICENSEE agrees to use all commercially reasonable efforts to begin
commercial sales of GOODS embodying the INVENTION as soon as practically
possible with the hope being that commercial sales will be initiated within the
first Agreement Year, which Agreement Year shall be the year 2001.

                                  V. ROYALTIES

         5.1 In consideration of the licenses and rights granted by SSC to
LICENSEE hereunder, LICENSEE will pay or cause to be paid to SSC a license fee
of One Hundred Thousand Dollars ($100,000.00) upon execution of this Agreement.

         5.2 In addition to the license fee set forth in Paragraph 5. 1,
LICENSEE agrees to pay SSC a royalty on the NET SALES of GOODS sold by LICENSEE
and/or any subsidiaries or sublicensees in the amount of five percent (5%) of
NET SALES of GOODS. Percentage royalties shall be payable on or before thirty
(30) days after the close of each calendar quarter. LICENSEE shall be subject to
annual minimum royalty requirements beginning in the year 2002. On January 2,
2002 LICENSEE shall pay to SSC a non-refundable deposit of Fifty Thousand
Dollars ($50,000) which shall serve as SSC's minimum annual royalty payment for
calendar year 2002 and which will be

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credited towards the actual royalties due for calendar year 2002. The minimum
annual royalty payments shall be One Hundred Twenty Five Thousand Dollars
($125,000) for calendar year 2003 and One Hundred Fifty Thousand Dollars
($150,000) per year for calendar years 2004-2006. In the event actual royalties
in any such year exceed the minimum royalties established in this section,
LICENSEE shall pay to SSC any excess as set forth above. At the discretion of
LICENSEE, LICENSEE may, at any time during the term of this Agreement, elect to
convert this license from an exclusive license within the field of use of
angiographic guidewire introducers to a nonexclusive license (subject to the
same field of use limitation) by providing written notice of its exercise of
such option to SSC. If and to the extent LICENSEE does exercise the
aforementioned option, then each of the minimum annual royalties specified above
will be reduced by one-half (and any adjustment to the minimum annual royalties
will be prorated for any partial year).

         5.3 In the event LICENSEE fails to pay within thirty (30) days of the
close of any Agreement Year, the royalties specified above with respect to such
Agreement Year, the right of LICENSEE to manufacture and sell the GOODS
hereunder in the TERRITORY may be canceled at the election of SSC; provided, SSC
shall first notify LICENSEE in writing of any then existing deficiencies in
royalty payments and LICENSEE shall have a period of ninety (90) days from the
date of such notice within which to cure any deficiency in royalty payments. If
such deficiency is not cured by LICENSEE within such ninety (90) day period,
this Agreement shall be deemed terminated pursuant to the provisions of Article
16, below.

         5.4 The obligation to pay royalties under this Article shall terminate
with respect to GOODS sold in any country upon the expiration of the patent
licensed hereunder in that country. After the expiration of all patents or
patent protection obtained pursuant to this Agreement, no further royalties
shall be payable under this Article with respect to any sale of any GOODS by
LICENSEE or any of its

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subsidiaries or sublicensees. In the event LICENSEE shall sell GOODS in any
country in which no PATENT is obtained or in which patent protection supported
by the PATENT is not available, LICENSEE shall nevertheless be obligated to pay
royalties for sales in such country provided such sales would infringe a VALID
CLAIM if such sales were made in the United States.

         5.5 The obligation to pay royalties to SSC under this Article V is
imposed only once with respect to the same unit of GOODS. There shall be no
obligation to pay SSC under this Article on sales or transfer of GOODS between
LICENSEE and its subsidiaries and sublicensees or between any of them, but in
such instance the obligation to pay royalties shall arise upon sale by LICENSEE
or its subsidiaries or sublicensees who are not final users of GOODS, to any
unrelated third party or PARTIES. A sublicensee or subsidiary of LICENSEE shall
not be an end user of the INVENTION.

         5.6 Except as set forth in Paragraph 5.7 (below) if a patent or patents
of a third party that is not a subsidiary of LICENSEE should exist during the
term of this Agreement in any country covering the manufacture, use or sale of
any invention similar to the INVENTION, and it should prove, in LICENSEE'S good
faith judgment, impractical or impossible for LICENSEE or its subsidiaries or
sublicensees to continue the activity or activities licensed hereunder in such
country without obtaining a royalty-bearing license from such third party under
the third party's patent or patents to prevent infringement against such third
party's patent or patents, then the LICENSEE shall be entitled to a credit
against the payments due hereunder for sales of the INVENTION made in such
country of any amount equal to the royalty paid to such third party not to
exceed the royalty payment due under this Agreement, arising from the
manufacture, use or sale of the INVENTION in said country.

         5.7 The PARTIES understand and agree that as of the date hereof, SSC
holds the exclusive worldwide license to the United States patents and
international patents and

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patent applications listed in Exhibit A for the field of use of angiographic
guidewire introducers, attached hereto and incorporated herein by reference.

                         VI. ACCOUNTS AND DOCUMENTATION

         6.1 At the time the payments are due under Paragraph 5.2, LICENSEE
shall simultaneously furnish to SSC, a true and complete account of all NET
SALES for the QUARTER covered by the royalty payment (including all sales and
items of deduction utilized in computing NET SALES), accompanied by a
certificate in writing by a duly authorized officer of LICENSEE certifying to
the accuracy and completeness of such statement.

         6.2 LICENSEE shall, during the term of this Agreement, keep at its
place of business, clear, detailed and separate accounts and records showing all
sales, and items of deduction in arriving at NET SALES and all royalties due
and/or payable or paid under this Agreement. Such records shall be in a form
which allows accurate verification to be made and shall be supported by all
relevant documentation. Copies of such records shall be supplied to SSC at SSC's
expense upon SSC's written request, which request shall not be more often than
once per any Agreement Year.

         6.3 SSC, at its expense, shall have the right, once each calendar year,
during regular business hours and upon reasonable notice, to have an independent
auditor reasonably acceptable to both PARTIES inspect and audit accounts and
records of LICENSEE relating to the manufacture, sale and disposal of GOODS and
all other facts and matters relating to the calculation of the amount of royalty
or royalties due.

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<PAGE>

                       VII. TIME AND CURRENCIES OF PAYMENT

         Royalty payments shown to have accrued by the end of each Quarter shall
be paid in United States Dollars. LICENSEE, as an agent for SSC, shall deduct or
withhold from such payments and pay to the proper taxing authority, all taxes or
fees required by law or regulation to be deducted or withheld with respect to
royalty payments otherwise due SSC, if any, and proof of payment credited to SSC
shall be promptly forwarded by LICENSEE to SSC as evidence of such payment. If
applicable, the rate of exchange to be used in computing the amount of local
currency equivalent to the United States Dollars due to SSC as royalty shall be
the commercial exchange rate in effect in New York, New York, on the business
day proceeding the date on which royalty payment is being made as published in
the Wall Street Journal. If at any time conditions or legal restrictions prevent
the prompt remittance of the royalties due to SSC, LICENSEE shall have the right
and option to make such payments by depositing the amount thereof, subject to an
appropriate adjustment due to the inability to obtain appropriate tax deduction,
in local currency to SSC's account in a bank or other depository selected by
SSC. LICENSEE shall be excused from remitting such royalties in accordance with
the provisions of this Article during the pendency of such legal restrictions.

                               VIII. INFRINGEMENT

         8.1 In the event that there is infringement of the PATENTS, the PARTIES
shall notify each other in writing to that effect. During the one hundred twenty
(120) day period after such notice, SSC will have the right, but not the
obligation to bring suit against the alleged infringer. SSC shall bear the
expenses of any suit brought by it and

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shall retain all damages or other monies awarded or received in settlement of
such suit. If SSC elects to bring suit, SSC shall have the final decision on all
matters relating to litigation and any settlement discussions; provided,
however, that SSC shall not enter into any settlement agreement or take any
position in litigation, and shall take reasonable efforts to prevent Tyco from
entering into any settlement or taking any position in litigation, that
compromises or adversely impacts the rights granted to LICENSEE under this
Agreement (including, but not limited to, the exclusivity granted to LICENSEE
within the field of use of angiographic guidewire introducers) without
LICENSEE's prior written consent. LICENSEE will use reasonable efforts to
cooperate with SSC in any such suit and shall have the right to consult with SSC
and be represented by its own counsel at its own expense. All reasonable costs
incurred by LICENSEE associated with providing such cooperation to SSC will be
paid by SSC. In the event either SSC or Tyco, without LICENSEE's prior written
consent, enters into any settlement agreement or takes any position in
litigation that eliminates the exclusivity granted to LICENSEE within the field
of use of angiographic guidewire introducers, the minimum annual royalties
specified in Section 5.2 hereof shall automatically be reduced by one-half.

         If, after the expiration of said one hundred twenty (120) days from the
date of such notice, SSC has not brought suit against a third party infringer,
then LICENSEE shall have the right after such one hundred twenty (120) day
notice period, but not the obligation, to bring suit against such infringer and
join SSC as a party plaintiff provided that LICENSEE shall bear all expenses of
such suit. LICENSEE shall retain all damages or other monies awarded or received
in settlement of such suit. SSC will reasonably attempt to cooperate with
LICENSEE in any suit for infringement of the subject patent

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<PAGE>

brought by LICENSEE against a third party and shall have the right to consult
with LICENSEE and to participate in and be represented by independent counsel in
such litigation at its own expense. All reasonable costs incurred by SSC
associated with providing cooperation to LICENSEE shall be paid by LICENSEE.
Where it is necessary for LICENSEE to have standing to file the suit, SSC shall
assign limited concurrent rights to the licensed PATENTS for the terms of the
suit.

         8.2 In the event LICENSEE has decided to bring suit against an
infringer, it shall use reasonable commercial efforts to abate such
infringement. It is understood that the term best efforts under this Paragraph
8.2 shall include the filing for injunctive relief and all other actions which
could bring about an early abatement of the infringing activity. Notwithstanding
the foregoing, LICENSEE shall not enter into any settlement agreement, or take
any position in litigation which adversely impacts SSC's rights under this
Agreement without written consent by SSC.

         During the period commencing with LICENSEE's filing of a complaint for
infringement of the licensed PATENTS (or the PARTIES' receipt of a filed
complaint from a third party) and ending on a court's issuance of a final
non-appealable decision or other termination of the proceeding, LICENSEE's
royalty obligation under Paragraph 5.2 shall be reduced by the costs and
expenses LICENSEE has incurred in enforcing and protecting the PATENTS against
infringement by third parties.

         8.3 In the event of such infringement, LICENSEE's remedies against SSC
shall be limited to those remedies expressly set forth in this Article 8. It is
also understood and agreed that infringement proceedings referenced in this
section includes proceedings challenging the validity of the PATENTS.

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<PAGE>

                            IX. PATENT APPLICATIONS

         9.1 As of the date hereof, SSC has an exclusive worldwide license to
the patent rights to the INVENTION for the field of use of angiographic
guidewire introducers.

         9.2 SSC agrees to prosecute the patent applications identified in
Exhibit A. SSC agrees to file foreign patent applications claiming priority to
the U.S. patent application referenced as SHP025 in the following countries:
Australia, Brazil, Canada, France, Germany, Great Britain, Italy, Japan, Korea,
Mexico, People's Republic of China, Singapore, South Africa and Switzerland.

                                X. PATENT MARKING

         10.1 GOODS purchased or made by LICENSEE pursuant to this Agreement
shall bear the proper legal notice with respect to PATENTS under which the GOODS
are made and licensed.

         10.2 LICENSEE shall have the right to publicize the fact that Merit is
a licensee under the patent. Until LICENSEE publicly announces the existence of
this Agreement within a reasonable time, SSC shall not, without LICENSEE's prior
written consent, publicize the existence of this Agreement or the fact that
Merit is a licensee under the patent.

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<PAGE>

                              XI. PRODUCT LIABILITY

         LICENSEE shall be responsible for its acts and omissions with respect
to the manufacture, packaging and sale of the INVENTION or the GOODS. LICENSEE
shall and hereby does indemnify, defend and hold SSC, its directors, officers,
employees and shareholders harmless from and against any and all claims,
actions, suits, proceedings, losses, costs, judgments, deficiencies, penalties,
obligations, liabilities, damages (excluding any incidental, special
consequential, or punitive damages) fines, expenses (including attorneys' fees
and disbursements) relating to or arising out of LICENSEES design manufacture or
sales of the INVENTION or sales of the GOODS anywhere in the TERRITORY, directly
or indirectly.

                               XII. FORCE MAJEURE

         The obligations of either PARTY to perform under this Agreement shall
be excused if such failure to perform or any delay is caused by matters such as
acts of God, strikes, civil commotion, riots, wars, revolutions, acts of
government, or any other cause whether similar or dissimilar to those enumerated
which is reasonably beyond the control of the PARTY obligated to perform. Upon
the occurrence of such an event, the duties and obligations of the PARTIES shall
be suspended for the duration of the event preventing proper performance under
this Agreement; provided, however, that if such suspension shall continue in
excess of ninety (90) days, the PARTIES shall attempt to arrive at a mutually
acceptable compromise within the spirit and intent of this Agreement.

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                XIII. INDEMNIFICATION, INSURANCE AND DISCLAIMER,
                         REPRESENTATIONS AND WARRANTEES

         13.1 LICENSEE agrees that it shall be solely responsible for all the
expenses connected with its business related to the manufacture and sale of
GOODS, and for taxes and levies of any and all kinds in connection with that
business and the income therefrom and SSC shall not be liable for any such
expenses, taxes or levies, or disbursements otherwise paid and incurred except
as required by law as addressed in Article VII. LICENSEE agrees to procure, and
to maintain at LICENSEE's expense during the term of this Agreement, insurance
coverage naming SSC as an insured, from product liability claims arising out of
the manufacture, sale, use or operation of the GOODS. Such insurance coverage
shall include liability coverage of not less than One Million Dollars
($1,000,000.00) in the aggregate.

         13.2 SSC hereby represents and warrants to LICENSEE as follows:

                  (A) SSC has the right to grant for angiographic guidewire
                  introducers, and LICENSEE will receive the licenses of the
                  PATENTS, the INVENTION and the TECHNOLOGY transferred or to be
                  transferred pursuant to this Agreement in the country or
                  countries in which a patent license has been granted to SSC as
                  of the date of this Agreement.

                  (B) Neither the execution nor delivery of this Agreement nor
                  the consummation of the transactions provided for herein, will
                  violate any agreement, lien, instrument, decree, order or
                  judgment to which the PATENTS, the INVENTIONS, the TECHNOLOGY
                  or SSC or any of its officers, directors, shareholders or
                  partners is a party or by which it or they are bound. SSC has
                  the authority to grant to LICENSEE the licenses of the
                  PATENTS, the TECHNOLOGY and the INVENTION which is to be

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                  licensed and transferred pursuant to this Agreement. The
                  PARTIES signing this Agreement are duly authorized to execute
                  this Agreement on SSC's behalf and to consummate the
                  transaction as contemplated hereby.

                   (C) Except for the Becton Dickinson Agreement referred to in
                  Section 13.9 hereof, there are no licenses or other similar
                  agreements entered into by SSC pertaining to or affecting any
                  of the PATENTS, the INVENTION or the TECHNOLOGY, relating to
                  angiographic guidewire introducers, which would otherwise
                  diminish the license granted to LICENSEE under this Agreement.

         13.3 The PARTIES hereby agree to indemnify and hold each other harmless
from and against all liabilities, claims, losses, damages, costs and expenses
(including reasonable attorney's fees) resulting from or arising in connection
with SSC's or LICENSEE's breach of this Agreement, including, but not limited
to, the breach of any covenant, warranty or representation made by SSC or
LICENSEE hereunder.

         13.4 With respect to SSC, nothing in this Agreement shall be construed
as:

                  (A) A warranty or representation that any patent applications
                  filed or that may be filed disclosing and claiming any aspect
                  of the PATENTS will mature into issued patents; or

                  (B) A warranty or representation as to the validity or scope
                  of any PATENTS that may accrue during the Term of this
                  Agreement; or

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                  (C) A warranty or representation that anything made, used,
                  sold or otherwise disposed of under any license granted in
                  this Agreement is or will be free from infringement of patents
                  of third person; or

                  (D) An obligation to bring, defend or prosecute actions or
                  suits against third parties for infringement of any of the
                  PATENTS; or

                  (E) Granting by implication, estoppel, or otherwise any
                  licenses or rights other than those expressly granted in this
                  Agreement.

         13.5 Each of the PARTIES represents and warrants that it has accepted
and will accept no commitments or restrictions which will materially affect the
value of the rights granted in this Agreement to the other PARTY.

         13.6 LICENSOR MAKES NO WARRANTIES, EXPRESS, IMPLIED OR STATUTORY, WITH
RESPECT TO THE LICENSED INTELLECTUAL PROPERTY NOT EXPRESSLY SET FORTH IN THIS
AGREEMENT. THE LICENSED INTELLECTUAL PROPERTY IS MADE AVAILABLE TO LICENSEE
STRICTLY ON AN "AS IS" BASIS. LICENSOR DOES NOT WARRANT THAT THE LICENSED
INTELLECTUAL PROPERTY IS ERROR FREE OR THAT IT WILL MEET LICENSEE'S
REQUIREMENTS, OR THAT ANY PART OF IT IS PATENTABLE OR DOES NOT INFRINGE ANY
EXISTING OR FUTURE PATENT OR INTELLECTUAL PROPERTY OF ANY OTHER PERSON. ALL
IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE ARE
EXPRESSLY DISCLAIMED AND EXCLUDED. THE ENTIRE RISK AS TO THE RESULTS AND
PERFORMANCE OF THE LICENSED INTELLECTUAL PROPERTY IS ASSUMED BY LICENSEE.

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<PAGE>

         13.7 Licensee will in all material respects comply with all applicable
local, foreign and international Law during the Terms of this Agreement.
Licensee further agrees to register this Agreement as, where, and when required
by Law, rule, or regulation of any government or governmental entity, and to pay
when due all costs and fees connected therewith, and to otherwise fully comply
with all applicable Laws, rules, and regulations of any government or
governmental authority.

         13.8 LICENSEE hereby covenants that it will not, directly or
indirectly, export, license, distribute, sell, transfer or dispose of any
products sold as a result of this Agreement to or within any country in
contravention of any applicable Law, including, but not limited to, the U.S.
Export Administration Act of 1979, as amended. LICENSEE shall require that its
distributors covenant to comply with this same prohibition and restriction. If
LICENSEE shall become aware that a third person has exported or distributed
product in contravention of any applicable Law, or is known to be contemplating
such an act, then LICENSEE shall immediately notify SSC thereof. LICENSEE shall
then immediately (i) cease making product available to such third person, (ii)
use its best efforts to prevent any further contravention of Law, and (iii) use
its best efforts to prevent any further contravention of Law by that third
person. If LICENSEE fulfills its obligations under this Article then it shall
not be deemed to be in breach of this Agreement.

         13.9 SSC previously granted a license to Becton Dickinson under the
PATENTS for the field of use of intravascular catheters and catheter
introducers. In response to a request for clarification regarding SSC's ability
to grant to LICENSEE the licenses granted under this Agreement, SSC provided a
letter from Becton Dickinson, a copy of which is attached as Exhibit B hereto,
which clarifies that the license granted to Becton Dickinson does not include
angiographic guidewire introducers. Furthermore, SSC shall defend, indemnify and
hold LICENSEE harmless from and against all claims (including, but not limited
to, any claims of interference with contractual relations and/or patent
infringement of the PATENTS), liabilities,

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claims, losses, damages, costs and expenses (including reasonable attorney's
fees) that may be asserted by Becton-Dickinson against LICENSEE resulting from
or arising out of this Agreement and/or LICENSEE's manufacture, marketing,
distribution or sale of GOODS under this Agreement.

                          XIV. CONFIDENTIAL INFORMATION

         14.1 The term "Confidential Information" shall mean all financial,
technical and other information, including all copies thereof (including,
without limitation, all agreements, discoveries, ideas, designs, specifications,
drawings, techniques, models, data, programs, documentation, processes,
know-how, customer lists, marketing plans, books, logs, charts, records,
studies, reports, etc.) which may be furnished or disclosed to recipient by, or
acquired by recipient directly or indirectly from, the disclosing PARTY and/or
its Affiliates (defined below), including as a result of an inspection of any
facility of the disclosing PARTY or its Affiliates, or disclosing PARTIES
licensors, licensees or customers. For purposes of this Agreement, Confidential
Information shall not include, and the obligations herein shall not apply to,
information that: (a) was legally in the public domain prior to the time of
disclosure to the recipient, (b) is now or subsequently becomes generally
available to the public through no fault of recipient; (c) recipient can
demonstrate was rightfully in its possession prior to disclosure to recipient by
the disclosing PARTY; (d) is independently developed by recipient without the
use of any Confidential Information provided by the disclosing PARTY; (e)
recipient rightfully obtains from a third party who has the right, without
obligation to the disclosing PARTY, to transfer or disclose such information; or
(f) is required by law, regulation, rule, act, or order of any governmental
authority or agency to be disclosed by the receiving PARTY.

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         14.2 The term "Affiliate" shall mean (a) any person or entity directly
or indirectly controlled by, controlling or under common control with such
PARTY, and (b) any officer, director, management employee or trustee of such
PARTY.

         14.3 Each of the PARTIES agrees not to use any Confidential Information
disclosed by the other PARTY for any purpose except as outlined in this
Agreement. The PARTIES agree not to disclose any Confidential Information
received from the other PARTY to third parties or to employees of the recipient,
except to those employees who are required to have the Confidential Information
in order to evaluate or engage in discussions concerning the contemplated
business relationship.

         14.4 The PARTIES agree to take all reasonable measures to protect the
secrecy of and prevent the disclosure and unauthorized use of the other PARTY's
Confidential Information. Without limiting the foregoing, the recipient shall
take at least those measures that the recipient takes to protect its own
Confidential Information. The recipient shall not make any copies of
Confidential Information unless the same are previously approved in writing by
the disclosing PARTY. A recipient shall immediately notify the disclosing PARTY
in the event that it becomes aware of any unauthorized use or disclosure of the
disclosing PARTY's Confidential Information.

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         14.5 All Confidential Information is provided "as is". Neither PARTY
makes any warranties, express, implied or otherwise, regarding its accuracy,
completeness or performance.

         14.6 All documents and other tangible objects containing or
representing Confidential Information of a disclosing PARTY and all copies
thereof which are in the possession of a recipient shall be and remain the
property of the disclosing PARTY and shall be promptly returned to the
disclosing PARTY upon the disclosing PARTY's request.

         14.7 Each PARTY hereby acknowledges that each PARTY's Confidential
Information is and shall continue to be the exclusive property of such PARTY,
whether or not disclosed or entrusted to the other PARTY pursuant to this
Agreement.

         14.8 This confidentiality requirements under this Article shall survive
until such time as all Confidential Information disclosed hereunder becomes
publicly known and made generally available through no action or inaction of
recipient, not to exceed a maximum of three (3) years from the termination of
this Agreement.

                            XV. TERMINATION FOR CAUSE

         15.1 Failure by SSC or LICENSEE or of any of its subsidiaries to comply
with any of the obligations and conditions herein contained, unless such failure
results from or is caused by a change in applicable laws or regulations, shall
entitle the other PARTY to give the PARTY in default written notice specifying
the default or defaults and requiring it to make good such default or defaults.
If such default or defaults are not made good or corrected within ninety (90)
days after receipt of such notice, the notifying PARTY shall

                                 Page 20 of 25
<PAGE>

be entitled, in addition to all other remedies available to such PARTY at law or
in equity (without prejudice to any of its other rights conferred on it by this
Agreement) to terminate this Agreement by giving written notice of termination,
which termination shall take effect immediately. The right of either PARTY to
terminate this Agreement, as herein above provided, shall not be affected in any
way by its waiver, or failure to take action, with respect to any previous
default.

         15.2 In the event that LICENSEE is dissolved, whether voluntarily or
compulsorily (except in the case of a dissolution for the purposes of
recapitalization and/or non-bankruptcy reorganizations where the resulting
entity agrees to be bound by the terms of this Agreement), or has appointed a
receiver or trustee of its assets or a substantial part thereof, or enters into
a composition with creditors, this Agreement shall thereupon terminate and all
rights granted to Licensee hereunder shall immediately revert to and vest in
SSC; provided, however, in the case of an involuntary appointment of receivers
or trustees, such appointment shall not result in termination of the license if
the LICENSEE endeavors to set aside the appointment of the receiver or trustee
and is successful in setting aside the receiver or trustee within ninety (90)
days of appointment.

                  XVI. RIGHTS AND OBLIGATIONS UPON TERMINATION

         Any termination of this Agreement shall be without prejudice to the
rights of either PARTY against the other which may have accrued up to the date
of such termination and shall be without prejudice to the right of LICENSEE (i)
to dispose of any inventory of the GOODS manufactured up to the date of such
termination, and (ii) for a period of up to six months following termination, to
complete binding contracts then in existence subject to the payment of royalties
thereon as agreed to herein.

                                 Page 21 of 25
<PAGE>

                                XVII. ASSIGNMENT

         LICENSEE may assign its rights under this Agreement in whole or in part
to any subsidiary or subsidiaries, which shall be substituted directly for it
hereunder. At LICENSEE's request, SSC shall enter into a separate counterpart
agreement with any such subsidiary. Such counterpart agreement shall be in the
same form as this Agreement except for necessary changes in PATENTS to reflect
the extent of the assignment, the substitution of the subsidiary's name, and the
effective date of the assignment. This Agreement shall not otherwise be
assignable by either PARTY without the prior written consent of the other PARTY,
except by LICENSEE to the successor or assignee of all or substantially all of
its business related to medical products or by SSC to the successor or assignee
of all or substantially all of its business. It is expressly understood and
agreed, however, that the assignor of any rights hereunder shall remain bound by
the obligations thereof.

                      XVIII. NO PARTNERS OR JOINT VENTURES

         Nothing contained herein shall constitute the PARTIES as partners or
joint venturers and neither PARTY shall have the power to incur any obligations
on behalf of or to pledge the credit of the other PARTY in any manner
whatsoever.

                                 XIX. NO WAIVER

         The failure or delay by either PARTY hereto in the enforcement of any
rights under this Agreement shall not be deemed a waiver or modification thereof
and either

                                 Page 22 of 25
<PAGE>

PARTY may within the time provided by applicable law commence appropriate legal
proceedings to enforce any or all of such rights.

                             XX. DISPUTE RESOLUTION

         20.1 All claims, counterclaims, disputes and other matters in question
between the PARTIES hereto shall be decided by arbitration in accordance with
the Arbitration Rules of the American Arbitration Association. Pre-hearing
discovery, however, shall be permitted in accordance with Rules 26 through 37 of
the Federal Rules of Civil Procedure. The arbitrators shall have authority only
to award actual damages and shall have no Authority to award punitive damages or
any incidental, special or consequential damages. This agreement to arbitrate
and any other agreement or consent to arbitrate shall be specifically
enforceable under the prevailing law of any court having jurisdiction.

         20.2 Notice of demand for arbitration must be filed in writing with the
other PARTY to this Agreement and with the American Arbitration Association. The
demand must be made within a reasonable time after the claim, dispute or other
matter in question has arisen. In no event may the demand for arbitration be
made after the date when institution of legal or equitable proceedings based on
such claim, dispute or other matter in question would be barred by the
applicable statute of limitations.

         20.3 The award rendered by the arbitrator(s) shall be final judgment
may be entered upon it in any court having jurisdiction thereof, and shall not
be subject to modification or appeal except to the extent permitted by Sections
10 and 11 of the Federal Arbitration Act (9 U.S. C. Sections 10 and 11).

                                 Page 23 of 25
<PAGE>

                                  XXI. NOTICES

         Any notice given pursuant to the Agreement shall be deemed to have been
received according to the following provisions (notice under Section 21.2 being
preferred):

         21.1 In the case of the personal delivery of the notice, the notice
shall be deemed to have been received on the actual day of delivery or on the
next following working day if delivered after 5:00 p.m. on any working day.

         21.2 If notice is sent by certified mail to the address of the PARTY
referred to herein or such other address as may be provided in writing by a
PARTY from times to time, such notice to be deemed to have been received not
later than on the fifth (5th) day after posting or earlier, if receipt is
confirmed in writing.

         21.3 If notice is sent by cable, telegram, e-mail, overnight courier,
or facsimile transmission, the notice shall be deemed to have been received on
the working day next following the day of sending (provided proof can be shown
that the notice was received by the intended recipient).

                             XXII. ENTIRE AGREEMENT

         This Agreement sets forth the entire agreement and understanding
between the PARTIES relating to the subject matter of this Agreement and merges
all prior negotiations between the PARTIES. Neither of the PARTIES shall be
bound by any conditions, undertakings, warranties or representations with
respect to the subject matter of this Agreement other than as expressly provided
in this Agreement, or if subsequent to

                                 Page 24 of 25
<PAGE>

the date hereof, as may be made in writing and signed by the PARTIES to be bound
thereby.

                              XXIII. GOVERNING LAW

         This Agreement shall be construed in accordance with the laws of the
State of Utah.

         IN WITNESS WHEREOF, the PARTIES hereto have caused this Agreement to be
executed as of the date first above written.

[Corporate Seal]                    SAFETY SYRINGE CORPORATION

ATTEST:

/s/ Paul Evans                      By: /s/ David Robinson
-----------------------                 ----------------------------
Paul Evans, Secretary                   David Robinson, President

[Corporate Seal]                    MERIT MEDICAL SYSTEMS, INC.

ATTEST:

/s/ Kent Stanger                    By: /s/ Frederick Lampropolous
-----------------------                 -----------------------------------
Kent Stanger, Secretary                 Frederick Lampropolous, President

                                 Page 25 of 25RUBICON INTERNATIONAL LIMITED
                         Warner Building 85 Reid Street
                                 Hamilton Hm 12
                                     Bermuda

                                February 8, 2000

David A. Robinson
Chief Executive Officer
Specialized Health Products International, Inc.
585 West 500 South
Bountiful, Utah 84010

Dear David,

This  letter  confirms  our  understanding   that  Specialized  Health  Products
International,   Inc.   ("SHPI"  or  the  "Company")   hereby  engages   Rubicon
International Limited ("Rubicon") as a non-exclusive advisor with respect to the
Refloatation  (defined  below),  or sale of SHPI to,  or merger  with,  a target
company  (the  "Target"),  whether or not such  Target has been  identified  and
approached by Rubicon.  For the purpose of this agreement,  "Refloatation" shall
mean the listing or  quotation  of the  Company's  common  stock on a recognized
European  stock  exchange  and, in the event the Company  goes  private,  on the
Nasdaq SmallCap or National Market System. Such Refloatation,  sale or merger is
hereinafter referred to as a "Transaction."

In accordance with its  responsibilities,  Rubicon will provide such services as
SHPI may reasonably require, including:

o    assisting the Company in reviewing  and advising on the Company's  Business
     Plan, including financial projections.
o    assisting  the  Company  on a range of fair  values of SHPI  based upon the
     Company's financial projections and other appropriate information.
o    assisting SHPI in preparing a corporate  plan (the "Plan") which  satisfies
     both  management  and   shareholders  in  accordance  with  certain  agreed
     objectives.
o    assisting SHPI in identifying and approaching suitable Targets,  subject to
     the prior approval of SHPI.
o    assisting  SHPI  management  in  preparing  material to be presented to the
     Targets.
o    assisting the Company's  team in negotiating  the final terms,  conditions,
     documents and the closing of a Transaction.
o    assisting the Company in retaining and  instructing  legal advisers and, if
     necessary,  investment  bankers to  complete a  Transaction.  SHPI is to be
     responsible for the fees and expenses of such parties.
o    assisting the Company in seeking shareholder  approval of a Transaction and
     any related matters in pursuance of the Plan.
o    assisting  the  Company  with any other  reasonable  services  related to a
     Transaction.
o    assisting  the Company in  preparing  any  materials or  information  to be
     provided to third parties in connection with a Transaction.

The Company agrees that, in connection with Rubicon's engagement  hereunder,  it
will furnish Rubicon with all  information  concerning the Company which Rubicon
may  reasonably  require to perform its  services as stated  herein.  Except for
information  contained  in  documents  filed with the  Securities  and  Exchange
Commission by the Company,  Rubicon  agrees not to  distribute  written or other
information  relating  to the  Company  that is not  approved  in advance by the
Company.   Rubicon  accepts  no  responsibility  for  the  correctness  of  such
information.

All non public  information  concerning the Company which is provided to Rubicon
will be used solely in the course of the  performance of its services  hereunder
and will be treated  confidentially  by Rubicon for so

<PAGE>

long as such information remains non public. Except as otherwise required by law
or regulatory  process,  Rubicon will not disclose such information to any third
party without the Company's  consent,  other than to its employees or associates
who have a need to know the  information  and who will be  required to treat the
information as confidential.  Rubicon shall contemporaneously herewith execute a
confidentiality  agreement  in a mutually  agreeable  form and shall  assist the
Company in obtaining appropriate  confidentiality  agreements with third parties
who are involved in a Transaction where needed and appropriate.

As consideration for its services hereunder, the Company agrees to pay Rubicon a
success  fee in an  amount  equal  to 2.5% of the  first  $50  million  of Total
Consideration (defined below), plus 1.5% of Total Consideration in excess of $50
million for a Transaction  for which the parties had mutually  agreed in writing
to explore with a view to completing a Transaction.  Subject as provided  below,
such fee is to be paid in full on the later of the closing of a  Transaction  or
the date on which  the  amount  of Total  Consideration  can be  calculated.  No
success   fee  shall  be  payable  to  Rubicon  in  the  event  that  the  Total
Consideration is less than $1.70 per outstanding common share of the Company, or
its successor, on the date the success fee is first required to be paid.

For the  purpose  of this  letter  agreement,  "Total  Consideration"  shall  be
calculated as follows:

         (i)          In the event of a Refloatation,  Total Consideration shall
         be the  aggregate  undiluted  market  value of SHPI common stock at the
         Refloatation price. Refloatation price shall be determined as the issue
         price  of  SHPI  common  stock  to  new   investors  at  the  time  the
         Refloatation  or, if no new shares are being  issued at that time,  the
         average of the  average  daily  closing  bid and ask prices of the SHPI
         common stock on the principal  market on which the SHPI common stock is
         traded  during the twenty  consecutive  trading days  commencing on the
         five month anniversary of the Refloatation. Refloatation; or

         (ii)          In the event of a Transaction  other than a Refloatation,
         Total  Consideration  shall be  determined  as the net aggregate of all
         consideration  in all forms  received  or to be received by SHPI or the
         stockholders, option holders and warrant holders of SHPI, including the
         combination of all cash,  equity and debt  instruments  received upon a
         Transaction becoming  unconditional in all respects. The portion of any
         success fee that  relates to  consideration  to be received at a future
         date shall be paid by the Company when and if such future consideration
         is received by the  stockholders,  option  holders and warrant  holders
         entitled to payment unless the parties  mutually agree  otherwise.  All
         equity or equity  related  or debt  instruments  shall be valued at the
         average of the average daily closing bid and ask prices of the security
         in question on the  principal  market on which the security in question
         is traded during the twenty consecutive  trading days commencing on the
         date a Transaction is declared unconditional in all respects.

No more than one  success  fee may be earned  hereunder.  In the event  that the
Company   enters  into  a   Transaction   that  involves  a   Refloatation   and
non-Refloatation  Transaction, the Total Consideration shall be calculated under
both (i) and (ii)  above,  and the  success  fee shall be  calculated  using the
greater, but not both, of such amounts.

In the event that the  Transaction  does not  provide  SHPI with  $2,000,000  in
working  capital as of the date the success  fee is payable,  net of the success
fee and all other expenses  relating to the Transaction,  then SHPI may elect to
pay all or part of the  success  fee with  fully  paid  ordinary  shares of SHPI
common stock, rather than cash. In the event the issuance of the common stock is
subject to U.S. regulation,  then the shares will be "restricted  securities" as
that  term is  defined  in Rule 144 under the  Securities  Act of 1933.  For the
purpose of this  clause,  such shares  shall be valued at a 25%  discount of the
average of the average  daily  closing bid and ask prices of the common stock on
the principal  market on which the common stock is traded during the same twenty
consecutive  trading day period used to calculate Total  Consideration  or, if a
twenty day period is not used to calculate Total  Consideration,  the average of
the  average  closing  bid and ask  price  of the  common  stock  during  the 20
consecutive  trading  days  commencing  on the date a  Transaction  is  declared
unconditional in all respects. In addition to the foregoing, Rubicon may require
that all or part of the  success  fee may be paid  with  fully  paid  restricted
ordinary shares of common stock valued

                                   Page 2 of 4
<PAGE>

at a 25% discount,  as described  above, so long as the beneficial  ownership of
Rubicon,  any  affiliate of Rubicon and any person to whom Rubicon  transfers or
proposes to transfer  shares to does not equal or exceed 5% of any class of SHPI
securities  or 5% of the class of  securities  of any  affiliate or successor of
SHPI as of the date the success fee is paid.  For  purposes  hereof,  beneficial
ownership shall be calculated  using Rule 13d-3 and 16a-1, as promulgated  under
the Securities Exchange Act of 1934, and, on an individual basis, whichever Rule
results  in the  greater  amount  of  beneficial  ownership  shall  be  used  in
determining  beneficial  ownership  percentages.  In other cases, if the parties
mutually  agree  all or part of the  success  fee may be paid  with  fully  paid
restricted ordinary shares of common stock valued at a 25% discount as described
above.

In the event that the Company  enters into a Transaction of any form as a result
of which the  Company's  common stock is converted  into stock or  securities of
another  corporation,  then any success fee earned by Rubicon that is payable in
the form of common  stock  shall be  payable  in common  stock of the  surviving
corporation.

Rubicon has had access to SHPI's most recent Form 10-K, dated December 31, 1998,
and all subsequent Form 10-Q, Form 8-K and other filings with the Securities and
Exchange  Commission  and has had access to any and all  information  concerning
SHPI  which  Rubicon  and the  Rubicon's  financial,  tax and legal  consultants
required  or  considered  necessary  to make a proper  evaluation  of  SHPI.  In
entering into this agreement  whereby  Rubicon may be acquiring SHPI  securities
and in making any future  elections to acquire SHPI securities  pursuant to this
agreement,  Rubicon and its consultants  have relied solely upon their review of
the  publicly  available  information  that SHPI has caused to be filed with the
Securities and Exchange  Commission.  Rubicon is an accredited  investor as that
term is defined in Rule 501 as promulgated under the Securities Act of 1933.

In  addition  to the  above  fee  arrangement,  Rubicon  shall  be  entitled  to
reimbursement  of all reasonable out of pocket  expenses  incurred by Rubicon in
the performance of its obligations hereunder upon submission to SHPI of adequate
supporting documents.  SHPI shall not be obliged to reimburse aggregate expenses
in excess of $25,000 without SHPI's prior written  consent.  Such expenses shall
be submitted to SHPI on a monthly basis and settled promptly.

This  agreement  may be  terminated  by SHPI or Rubicon upon thirty days written
notice.  Notwithstanding  any  termination of this  agreement,  Rubicon shall be
entitled to be paid its expenses to the date of termination.  In addition,  if a
Transaction  is consummated  within one year  following the  termination of this
agreement  with any entity whom the parties  had  mutually  agreed in writing to
approach  with a view to completing a  Transaction,  then SHPI shall pay Rubicon
the full amount of fee which would have been payable if a  Transaction  had been
completed during the term of this agreement.

SHPI agrees to indemnify and hold harmless Rubicon and each person that controls
Rubicon  within  the  meaning of  Section  15 of the  Securities  Act of 1933 or
Section 20 of the  Securities  Exchange Act of 1934 and the  respective  agents,
employees,  attorneys,  officers and directors of each of the foregoing from and
against any and all losses, claims, damages, judgments, liabilities and expenses
(including  the  reasonable  fees and expenses of counsel and other  expenses in
connection with  investigating,  defending,  preparing to defend or testify with
respect to or  settling  any such  action or claim) as they are  incurred to the
extent   they  arise  out  of  or  are  based   upon  the   SHPI's   negligence,
misrepresentations,   unauthorized  representations,  violations  of  applicable
securities laws, regulatory violations or other misconduct of SHPI.

Rubicon  agrees to indemnify  and hold harmless the Company and each person that
controls the Company  within the meaning of Section 15 of the  Securities Act of
1933 or Section 20 of the  Securities  Exchange  Act of 1934 and the  respective
agents,  employees,  attorneys,  officers and directors of each of the foregoing
from and against any and all losses, claims, damages, judgments, liabilities and
expenses  (including  the  reasonable  fees and  expenses  of counsel  and other
expenses in connection  with  investigating,  defending,  preparing to defend or
testify  with  respect  to or  settling  any such  action  or claim) as they are
incurred  to the  extent  they  arise  out of or are  based  upon the  Rubicon's
negligence,  misrepresentations,  unauthorized

                                   Page 3 of 4
<PAGE>

representations, violations of applicable securities laws, regulatory violations
or other misconduct of Rubicon.

The interpretation and construction of this agreement,  and all matters relating
thereto,  shall be governed by the laws of the State of Utah  without  regard to
Utah's  Conflict of Law laws.  Any judicial  proceeding  brought to enforce this
agreement,  or any matter related  thereto,  shall be brought in the appropriate
courts for Davis County, State of Utah or the appropriate United States District
Court located in the State of Utah. By execution of this  agreement,  each party
accepts and agrees to the exclusive  jurisdiction  of the  aforesaid  courts and
irrevocably  agrees to be bound by any judgment  rendered  thereby in connection
with this Agreement.

The parties are and shall be independent contractors to one another, and nothing
herein shall be deemed to cause this agreement to create an agency, partnership,
or joint  venture  between  the  parties.  Nothing  in this  agreement  shall be
interpreted  or  construed  as  creating or  establishing  the  relationship  of
employer and employee between the parties hereto.

Please confirm the foregoing is in accordance with your understanding by signing
and returning to us the enclosed duplicate of this letter.

                                            Very truly yours,

                                            RUBICON INTERNATIONAL LIMITED

                                            By   /s/
                                                 -----------------------------
                                            Its: Vice President

AGREED AND ACCEPTED this 8th day of February, 2000.
SPECIALIZED HEALTH PRODUCTS INTERNATIONAL, INC.

By  /s/ David Robinson
    ---------------------
Its: President

                                   Page 4 of 4

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