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Exhibit 10.6    
    

 
 

CONFIDENTIAL
  
  SEPARATION AGREEMENT
  AND GENERAL RELEASE OF CLAIMS    
    

        This Separation Agreement and General Release of Claims ("Agreement") is entered into between UTI Corporation, a Maryland corporation ("UTI-MD"), Medical Device
Manufacturing, Inc., a Colorado Corporation ("Employer"), UTI Corporation, a Pennsylvania corporation ("UTI-PA") and Andrew D. Freed ("Employee"), as of this 14th day of
September, 2003. 

        WHEREAS,
Employee is employed as a salaried executive holding the title of President and Chief Executive Officer of UTI-MD and Employer; 

        WHEREAS,
Employee is a member of the boards of directors of Employer and UTI-MD, currently serving as Chairman of the Board of each such board; 

        WHEREAS,
Employee is currently employed by Employer pursuant to an Employment Agreement entered into between Employer, UTI-PA and Employee dated May 31, 2000 (the "Original
Employment Agreement") as amended in an Amendment dated June 16, 2003 (the "Amendment") (the Original Employment Agreement and the Amendment hereinafter collectively referred to as the
"Employment Agreement"); 

        WHEREAS,
Employee currently holds certain options to acquire the stock of UTI-MD granted to him pursuant to the UTI Corporation Key Executive Deferred Compensation Plan effective
May 31, 2000 (the "Deferred Compensation Plan") and the MDMI Holdings, Inc. Amended and Restated 2000 Stock Option and Incentive Plan (the "Option Plan"); and 

        WHEREAS,
Employer and Employee wish to alter the nature of their relationship and have reached an agreement under which Employee will cease his employment with Employer, the parties will
release any and all claims against one another, and resolve any and all disputes between the parties based on, relating to or arising from Employee's employment with Employer, his service as an
officer or board member of UTI-MD, Employer or any of their subsidiaries, or the terms and conditions of Employee's employment. 

        NOW
THEREFORE, Employee and Employer, UTI-MD and UTI-PA, each intending to be legally bound hereby, agree as follows: 

        1.    Separation Date.    Effective upon the close of business on September 30, 2003
(the "Separation Date"), Employee shall cease to be employed by Employer. Upon execution of this Agreement, Employee shall resign all positions held by him as an officer of UTI-MD and as an officer
and director of Employer and any of their respective subsidiaries. Employee agrees that, upon the request of the executive committees of UTI-MD's and Employer's respective boards of directors,
Employee shall remain as a director (and, at such executive committee's request, the Chairman) of UTI-MD and/or Employer for a period of up to twelve months from the Separation Date for no additional
consideration other than the standard compensation, if any, paid to a non-executive director of UTI-MD and Employer, respectively. Effective upon the Separation Date, the Employment Agreement shall be
terminated in all respects other than Section 6 thereof, which shall remain in effect for the period set forth therein and is incorporated by reference herein, and Employee's rights to wage
continuation, benefits entitlements and any other privileges or benefits of employment shall be governed solely by this Agreement. 

        2.    Transition Benefits.    Employer will provide Employee with the following benefits for
the time periods described below: 

        a.    Severance Payment.    Beginning with Employer's first regularly scheduled payroll date after the Termination
Date, Employer will pay to Employee $55,996 per month, less all 

 

applicable
taxes and other legally required deductions and withholdings (the "Severance Payment") for a period of 24 months ending on the second anniversary of the Termination Date (the
"Severance Payment Period"). Such Severance Payments shall be made on regularly scheduled payroll dates in accordance with Employer's payroll practices applicable to executives. The Severance Payments
represent and shall be in lieu of amounts otherwise owed to Employee upon his termination pursuant to all agreements previously entered into between Employer and Employee, including but not limited to
those described below. The parties agree that $27,083 of the Severance Payment represents Employee's entitlement to continuation of wages that otherwise would have been payable under the Employment
Agreement, $813 of the Severance Payment represents the amount that Employer would have contributed on behalf of Employee under Employer's 401(k) plan, $183 of the Severance Payment represents an
additional severance amount Employer has agreed to pay Employee in connection with the automobile allowance provided under the Employment Agreement, and the remaining $27,917 of the Severance Payment
is attributable to and in full satisfaction of the amount to be paid pursuant to the Employee's Deferred Compensation Account (including any interest owed by Employer thereon) under the Deferred
Compensation Plan (the "Deferred Compensation Amount"). UTI-MD acknowledges and agrees that the Deferred Compensation Amount is not subject to FICA withholding. Employee acknowledges and agrees that
he is solely and entirely responsible for the payment and discharge of all federal, state and local taxes, if any, which at any point may be found to be due by Employer on or as a result of any amount
that is paid by Employer or UTI-MD under this Agreement, and Employee agrees to indemnify, defend and hold Employer, UTI-MD and their subsidiaries, predecessors and successors harmless from any claim
or liability for any such taxes and related penalties and/or interest, in the event such taxes, penalties and/or interest are assesses by the United States Internal Revenue Service or any other taxing
authority. Employer acknowledges and agrees that it is solely and entirely responsible for the payment and discharge of all federal, state and local taxes, if any, which at any point may be found to
be due by Employer on or as a result of any amount that is paid by Employer or UTI-MD under this Agreement, and Employer agrees to indemnify, defend and hold Employee harmless from any claim or
liability for any such taxes and related penalties and/or interest, in the event such taxes, penalties and/or interest are assessed by the United States Internal Revenue Service or any other taxing
authority. In the event of Employee's death or incapacitating mental or physical disability during the Severance Payment Period, the Severance Payments will continue and will be paid to Employee's
beneficiary, in accordance with Employee's Designation of Beneficiary, attached hereto at Exhibit A. 

        b.    Health Care and Dental Coverage.    Employer will continue to provide Employee and his dependents with
equivalent health care coverage as that provided by Employer to Employee on the Separation Date. Employer will continue to provide Employee and his dependents with health care and dental coverage
until the conclusion of the Severance Payment Period. Upon termination of Employee's participation, Employee may extend the health care and dental coverage in effect at the time in accordance with the
provisions of COBRA, 29 U.S.C. §§ 1161 et seq., to the extent such extended coverage is available under COBRA. 

        c.    Automobile Allowance.    During the Severance Payment Period, Employer shall continue to provide Employee with
an automobile allowance equal to, and paid in the same manner as, the automobile allowance paid to Employee on the Separation Date. Employee understands and agrees that Employee's automobile will not
be used in connection with Employer's business after the Separation Date and that, as a result, any automobile allowance paid thereafter may be subject to tax. Employee is solely responsible for any
taxes resulting to Employee from Employer's payment of the automobile allowance hereunder. 

2

 

        d.    Association Dues.    During the Severance Payment Period, Employer will continue to reimburse Employee for all
dues and associated expenses for Employee's participation in the Young President's Organization; provided, however, that Employer shall not be required to pay any amount under this Section 2(d)
in excess of $40,000 in either the first or second twelve months of the Severance Payment Period. 

        3.    Accrued and Unused Vacation.    On the first regular payroll date following the
Separation Date, in addition to the first Severance Payment, Employer will pay to Employee all accrued and unused vacation time pursuant to its policies. Employee understands and agrees that no
further vacation will accrue to Employee as of the Separation Date. 

        4.    Stock Options.    Employee retains certain rights associated with stock options
previously granted to Employee by UTI-MD pursuant to the terms of the Deferred Compensation Plan or the Option Plan, as applicable, and the associated grant agreements between Employee and UTI-MD
(collectively, the "Plan Documents"). Pursuant to the terms of the Plan Documents and the effects of a subsequent stock split on certain stock options granted thereunder, UTI-MD acknowledges and
agrees that, upon Employee's termination and assuming Employee has not exercised any options prior to such time, Employee will be (a) 60% vested in 41,400 incentive stock options (the vesting
and exercise of which will be governed by that certain Stock Option Agreement Grant # 5, dated June 1, 2000, between UTI-MD and Employee), (b) 100% vested in 281,250 nonqualified
stock options (the exercise of which will be governed by that certain Stock Option Agreement Grant # 14, dated June 1, 2000, between UTI-MD and Employee), and (c) 20% vested in
9,000 incentive stock options (the vesting and exercise of which will be governed by that certain Stock Option Agreement Grant # 1201, dated February 14, 2002, between UTI-MD and
Employee) to acquire UTI-MD's common stock. Employee understands and agrees that any unvested UTI-MD stock options owned by Employee will terminate as of the Separation Date and will no longer be
outstanding. For the purpose of interpreting the Plan Documents, Employee's termination will be considered to be involuntary and without Cause (as defined therein). 

        5.    Confidentiality of Agreement.    Employee and Employer agree that as a material
condition of this Agreement, neither shall disclose the terms or conditions of this Agreement to any third party or entity. However, this paragraph will not prohibit either party from disclosing the
terms and conditions of this Agreement to their respective attorneys, tax advisors or accountants, or to any person as may be
required by law or ordered by any state or federal administrative agency, tribunal or court of law, nor shall this paragraph preclude either Employer or Employee from disclosing the terms of this
Agreement as may be necessary in defense of any action brought by one party against the other with respect to any matter addressed by this Agreement. Notwithstanding any other provision of this
Agreement, any party to this Agreement (and each employee, representative or other agent of such party) may disclose to any and all persons, without limitation of any kind, the tax treatment and tax
structure of the transaction and all materials of any kind (including opinions and other tax analyses) that are provided to the party relating to such tax treatment and tax structure, provided that in
connection with any such disclosure all references to the settlement amount paid pursuant to this Agreement, and other figures from which the settlement amount may be estimated or calculated, shall be
redacted. 

        6.    Agreement Not To Compete.    Employee hereby agrees that during the Severance Payment
Period and for so long as Employer continues to make the Severance Payments, Employee will continue to be bound by the Non-Competition Agreement entered into by Employee, UTI-PA and Employer on
May 31, 2000 (the "Non-Competition Agreement"). Upon the expiration of the Severance Payment Period, the Non-Competition Agreement and the Non-Competition Period described therein shall
terminate in all respects, except for Section 3 thereof regarding Confidential Information which shall remain in effect in all respects and is incorporated by 

3

 

reference
herein. Nothing contained in this Agreement or upon the termination of the Non-Competition Agreement shall limit Employee's right to provide services to, own equity in, or pursue the
business of eVasc, L.P. ("eVasc") or Medical Device Investment Holdings Corp. ("MDIH"), the licensee and holder of all rights pursuant to the License and Technical Assistance Agreement entered into
between Employer and MDIH on June 1, 2000 ("License Agreement") or any other agreements between UTI and MDIH that may be entered into after the date of the Amendment as such agreements may be
amended from time to time, all as provided in and permitted by Paragraph 1(a) of the Non-Competition Agreement, nor shall it restrict or otherwise limit MDIH's rights pursuant to the License
Agreement. 

        7.    Return of Corporate Property.    On or prior to the Separation Date, Employee shall
deliver promptly to Employer all records and property as required pursuant to paragraph 4(e) of the Employment Agreement. Employee further acknowledges and agrees that his access to such
property and facilities cease immediately upon the Separation Date, and he shall be responsibility for reimbursing Employer for all personal expenses associated with any of the foregoing incurred
after that date. 

        8.    General Release of Claims.    Employee for himself and his respective administrators,
executors, agents, representatives, beneficiaries and assigns, and Employer (as defined below) do waive, release and forever discharge each other of and from any and all "Claims" (as defined below).
Both agree not to file a lawsuit to assert any such Claim. This release covers all Claims arising from the beginning of time up to and including the date of this Agreement. This release does not cover
Claims relating to the validity or enforcement of this Agreement. Further, Employee has not released any claim for indemnity or legal defense available to his due to his service as a board member,
officer or director of UTI-MD, Employer or any of their subsidiaries, as provided by the articles of incorporation or bylaws of UTI-
MD, Employer and any such subsidiaries, respectively, or by any applicable insurance policy, or under any applicable corporate law. 

        The
following provisions further explain this general release and covenant not to sue: 

        a.    Definition of "Claims".    "Claims" includes without limitation all actions, demands, causes of action, claims
and all other liabilities of any kind or description whatsoever, either in law or in equity, whether known or unknown, suspected or unsuspected, of any kind that Employee or Employer now have, or may
have or claim to have in the future based on, relating to or arising from Employee's employment with Employer, his service as an officer or board member with Employer, the terms and conditions of his
employment or Employee's separation from employment (except as stated above in paragraph 8). More specifically, all of the following are among the types of Claims that will be barred by this
release and covenant not to sue (except as stated above in paragraph 8): 

	•
	contract
claims (whether express or implied);

	•
	tort
claims, such as for defamation or emotional distress;

	•
	claims
under federal, state and municipal laws, regulations, ordinance or court decisions of any kind;

	•
	claims
of discrimination, harassment or retaliation, whether based on race, color, religion, gender, sex, age, sexual orientation, handicap and/or disability, national
origin or any other legally protected class;

	•
	claims
under the Age Discrimination in Employment Act, Title VII of the Civil Rights Act of 1964, as amended, the Americans with Disabilities Act and similar state
statutes and municipal ordinances; 

4

 

	•
	claims
under the Employee Retirement Income Security Act, the Fair Labor Standards Act, state wage payment laws and state wage and hour laws;

	•
	claims
under the Family and Medical Leave Act and similar state leave laws;

	•
	claims
for wrongful discharge; and

	•
	claims
for attorneys' fees, litigation costs and expert fees of any kind. 

This
enumeration of the Claims covered by this release is not intended to be, and shall not be construed as, an exhaustive list. 

        b.    Definition of Employer.    For purposes of these release provisions "Employer" includes without limitation
UTI-MD, Employer, UTI-PA and KRG Capital Partners, LLC, and their past, present and future parents, affiliates, subsidiaries, divisions, predecessors, successors, assigns, employee benefit plans and
trusts, and any other affiliate of UTI-MD for which Employee has served in the capacity of officer or director at Employer's request at any time during the Term of the Employment Agreement. It also
includes all past, present and future managers, directors, officers, agents, members, employees, attorneys, representatives, consultants, associates, fiduciaries, plan sponsors, administrators and
trustees of each of the foregoing. 

        c.    Effect of Release and Covenant Not to Sue.    In any action relating to or arising from this Agreement, or
involving its application, including but not limited to any action in which this Agreement is asserted as a defense, the party substantially prevailing shall recover from the other party the expenses
incurred by the prevailing party in connection with the action, including court costs and reasonable attorney's fees. 

        9.    Consideration Period.    Employee acknowledges that he may have a period of twenty-one
(21) days to consider the terms of this offer, including specifically the release of claims under the Age Discrimination in Employment Act as referenced in paragraph 8, above, from the
date this Agreement was first presented to him or his legal counsel. Employee understands that he may take the entire 21-day period to consider entering into this agreement, and he acknowledges that
if he chooses to sign and return the Agreement before the end of the full 21 days, his decision to shorten the consideration period is knowing and voluntary and was not induced in any way by
Employer. 

        10.    Revocation Period.    Employee acknowledges that he shall have seven (7) days
after signing this Agreement to revoke it if he chooses to do so. If Employee elects to revoke this Agreement, he shall give written notice of such revocation to Employer's Board of Directors in such
a manner that it is actually received within the seven (7) day period. The Agreement shall not become effective or enforceable until the expiration of that seven (7) day period. In the
event that Employee revokes this Agreement pursuant to Paragraph 10, Employee shall immediately return any payments made by Employer pursuant to this Agreement. 

        11.    Consultation with Legal Counsel.    Employee acknowledges that he has been advised to
consult with independent legal counsel of his choosing regarding the meaning and binding effect of this Agreement and each and every term hereof, including but not limited to the release of claims
under the Age Discrimination in Employment Act, prior to executing it. Employer hereby agrees to reimburse Employee for his reasonable attorneys' fees and costs incurred in connection with the
negotiation and preparation of this Agreement, such amount to be paid within thirty (30) days of submission to Employer. Employee, intending to be legally bound hereby, certifies and warrants
that he had read carefully this Agreement and has executed it voluntarily and with full knowledge and understanding of its significance, meaning and binding effect. 

5

 

        12.    Non-Disparagement.    Employer and Employee agree that neither will engage in any
activity or make any statement that may disparage or reflect negatively on the other, including those entities and individuals related to Employer as defined in the paragraph 8 of this
Agreement. 

        13.    References.    Employer will provide Employee with a favorable reference consistent
with the Letter attached as Exhibit B.

        14.    Integration.    Except as expressly provided herein, this Agreement contains the entire
understanding of the parties and supersedes all verbal and written agreements, and there are no other agreements, representations or warranties between the parties not referenced or set forth in this
Agreement. 

        15.    Settlement of Disputes.    

        a.    Arbitration.    Except as provided in paragraph 16(c), any claims or disputes of any nature between
Employer and Employee arising from or related to the performance, breach, termination, expiration, application or meaning of this Agreement or any matter relating to Employee's employment and the
termination of that employment by Employer shall be resolved exclusively by arbitration in Philadelphia, Pennsylvania, in accordance with, as applicable, the Commercial Arbitration Rules or
Rules for Resolution of Employment Disputes then existing of the American Arbitration Association. In the event of submission of any dispute to arbitration, each party shall, not later than thirty
(30) days prior to the date set for hearing, provide to the other party and to the arbitrator(s) a copy of all exhibits upon which the party intends to rely at the hearing and a list of all
persons each party intends to call at the hearing. In the event that the arbitrator finds one party to be the "substantially prevailing party," the fees of the arbitrator(s) and other costs, including
attorneys' fees, incurred by Employee and Employer in connection with such arbitration shall be paid by the party who or which is unsuccessful in such arbitration. If the arbitrator fails to find that
either party substantially prevailed, each party shall bear its own expenses. 

        b.    Binding Effect.    The decision of the arbitrator(s) shall be in writing and shall be final and binding upon
both parties. Judgment of the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof. 

        c.    Resolution of Certain Claims—Injunctive Relief.    Paragraph 16(a) shall have no application to
claims by Employer asserting a violation of paragraphs 6 or 7 of this Agreement or seeking to enforce, by injunction or otherwise, the terms of paragraphs 6 or 7. Such claims may be
maintained in a lawsuit subject to the terms of paragraph 16(c). Employee acknowledges that it would be difficult to fully compensate Employer for damages resulting from any breach by him of
this Agreement. Accordingly, Employee aggress that, in addition to, but not to the exclusion of any other available remedy, Employer shall have the right to enforce the provisions of
paragraphs 6 or 7 of this Agreement by applying for and obtaining temporary and permanent restraining orders or injunctions from a court of competent jurisdiction. 

        d.    Venue.    Any action at law, suit in equity or judicial proceeding arising directly, indirectly or otherwise in
connection with, out of, related to or from this Agreement, or any provisions hereof, shall be litigated only in the courts of Philadelphia County, Pennsylvania. Employee and Employer consent to the
jurisdiction of such courts over the subject matter set forth in paragraph 15(c). 

        16.    Governing Law.    Except to the extent superseded by federal law
(e.g., ERISA), this Agreement shall be governed by the laws of the Commonwealth of Pennsylvania without giving effect the choice of law provisions of
any state. 

6

 

        17.    Headings.    The headings in this Agreement are included solely for ease of reference
and shall not be applied or construed to limit or expand upon the rights created hereunder. 

        18.    Counterparts.    This Agreement may be executed in counterparts, each of which will be
deemed an original, but all of which shall constitute one and the same agreement. Each party shall execute this Agreement twice and each party shall retain an original. 

        19.    Notices.    Except as provided herein, any notice required by this Agreement shall be
deemed effectively provided if sent by certified mail or overnight delivery to the parties as follows: 

	To Employee:	 	Andrew D. Freed

235 Ridgeview Drive

Collegeville, PA 19426
	

With copy to:	
 	

Raymond D. Agran, Esquire

Ballard Spahr Andrews & Ingersoll, LLP

1735 Market Street, 51st Floor

Philadelphia, Pennsylvania 19103

Fax: (215) 864-9976
	

To UTI-MD:

UTI-PA or Employer	
 	

UTI Corporation

200 West 7th Avenue

Collegeville, PA 19426

Attention: Stewart Fisher

Fax (610) 409-2470
	

With copy to:	
 	

Christopher J. Walsh, Esquire

Hogan & Hartson L.L.P.

1200 17th Street, Suite 1500

Denver, Colorado 80202

Fax: (303) 899-7333

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        IN
WITNESS WHEREOF, the parties have executed this Agreement. 

	 	 	/s/  ANDREW D. FREED      
 Andrew D. Freed
	

 	
 	

UTI Corporation (Maryland)
	

 	
 	

By:	
 	

/s/  BRUCE L. ROGERS      

	 	 	Name:	 	Bruce L. Rogers
	 	 	Title:	 	Vice President and Director
	

 	
 	

UTI Corporation (Pennsylvania)
	

 	
 	

By:	
 	

/s/  BRUCE L. ROGERS      

	 	 	Name:	 	Bruce L. Rogers
	 	 	Title:	 	Vice President and Director
	

 	
 	

Medical Device Manufacturing, Inc.
	

 	
 	

By:	
 	

/s/  BRUCE L. ROGERS      

	 	 	Name:	 	Bruce L. Rogers
	 	 	Title:	 	Vice President and Director

8

 
 
 

Exhibit A
  DESIGNATION OF BENEFICIARY
  UNDER CONFIDENTIAL SEPARATION AGREEMENT
  BETWEEN UTI CORPORATION AND ANDREW FREED    
    

In
the event that I, Andrew Freed, die or incur an incapacitating mental disability during the Severance Payment Period, as defined in the Confidential Separation Agreement and Release of Claims
between UTI Corporation (Maryland), UTI Corporation (Pennsylvania), Medical Device Manufacturing, Inc. and me, to which this Designation of Beneficiary is attached, I hereby designate the following
beneficiary to receive the remainder of my Severance Payments: 

	Name of Primary Beneficiary:	 	 
	 	 	

	Social Security Number:	 	 
	 	 	

	Address:	 	 
	 	 	

	 	 	

	 	 	

	

Name of Secondary Beneficiary:	
 	

 
	 	 	

	Social Security Number:	 	 
	 	 	

	Address:	 	 
	 	 	

	 	 	

	 	 	

       

The
above Designation of Beneficiary supersedes all previous designations made by me for purposes of my Severance Payments. 

	

 	
 	

 
	
 Signature	 	 
	

 Date	
 	

 

9

 
 
 

Exhibit B
  
  LETTER OF REFERENCE    
    

To
Whom It May Concern: 

        This
letter will confirm that Andrew D. Freed was employed by UTI Corporation from June 28, 1983 until [TERMINATION DATE TO BE INSERTED]. He served as
President, CEO and as a Member of the Board of Directors of UTI from March 1994 until his departure on mutually satisfactory terms, and also served as Chairman of the Board of Directors beginning in
February 2001. 

        During
his employment, he performed his responsibilities with diligence, confidentiality and professionalism. Mr. Freed served as a valuable member of our management team. 

	 	 	Very truly yours,
	

 	
 	

UTI Corporation
	

 	
 	

By:	
 	

 
	 	 	 	 	

10

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Exhibit 10.6

CONFIDENTIAL SEPARATION AGREEMENT AND GENERAL RELEASE OF CLAIMS

Exhibit A DESIGNATION OF BENEFICIARY UNDER CONFIDENTIAL SEPARATION AGREEMENT BETWEEN UTI CORPORATION AND ANDREW FREED

Exhibit B LETTER OF REFERENCEQuickLinks
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Exhibit 10.7  

	UTI	 	Uniform Tubes
	American Technical Molding • Micro Med Machining • Noble-Met, Ltd. • Spectrum Manufacturing	 	Revised: 8/19/97
	Star Guide • Stent Technologies • Uniform Tubes • Uniform Tubes-Europe • UTI-SFM • Utitec	 	 

UNIFORM TUBES, INC.  

 (Inclusive of Trappe and South Plainfield locations)  

 
  TRADE SECRETS AGREEMENT    
    

INTRODUCTION:  

        UTI Corporation has elected to keep certain operations, techniques, processes, engineering details, and computer programming and operations secret or proprietary;
and to not divulge such information except to those few individuals who in the course of their work must utilize or be privy to such information. 

PURPOSE:  

        The purpose of this Agreement is to define those elements of one's work, or information of which one becomes aware, which involve information that UTI Corporation
considers to fall in the category of "Trade Secrets." 

CONTENTS OF AGREEMENT:  

        The following is a list of those elements considered proprietary and in the "Trade Secrets" category: 

	 	1.	List of major company customers, key purchasing agents and technical people.
	

 	

2.	

List of company suppliers.
	

 	

3.	

Confidential long range plans.
	

 	

4.	

Pricing policy and specific prices.
	

 	

5.	

Technology for developing quotations.
	

 	

6.	

Coil drawing—processes, lubricants, plug and die designs.
	

*	

7.	

Tube reduction for ultrasonic plug and die drawing.
	

 	

8.	

Lubrication types/procedures as related to 4688 lubricant for ID's developed by Uniform Tubes for use on ferrous and nickel alloys.
	

 	

9.	

MIS/MRP/SIP Systems, including the 101 System, and all data contained in 101 file (parts master directory and file, database) as uniquely developed and used by Uniform Tubes, Inc.
	

 	

10.	

Technology on cutting methods developed and practiced by Kleiner Metal Specialties (South Plainfield division of Uniform Tubes, Inc.):
	

 	

 	

a.	
 	

for shear cutting ultra thin wall tubing with or without a liner;
	

 	

 	

b.	
 	

for cutting shaped tubing;
	

 	

 	

c.	
 	

for cutting and forming special configuration ground clip contact;
	

 	

 	

d.	
 	

for cutting and forming special configuration cathode sleeves;
	

 	

 	

e.	
 	

for cutting and forming parts with pierced holes, multi-stage reductions;
	

 	

 	

f.	
 	

for pick-up type transfer of long straight cuts to forming station; and
	 	 	 	 	 

 

	

 	

 	

g.	
 	

for rotary formation of clover shapes and pierced holes.
	

 	

11.	

Duplex drawing process.
	

 	

12.	

Technology for converting #81062 GE Alkanex Polyester Resin into liquid Alkanex dispersion and manufacturing of round or shaped ECM Cathodes made from A-40 Titanium tubing with Alkanex coating, including application of Alkanex coating, straightening,
centerless grinding tip dressing, and inspection.
	

 	

13.	

Arthroscopic forming process.
	

 	

14.	

Processes for producing super finish on Cb-Zr parts for sodium vapor lamps.
	

 	

15.	

TQM program with procedure for assigning reason codes and defining method for improvement.
	

 	

16.	

HDTV cathode development; forming refractory metals HDTV.
	

 	

17.	

ES-I/ES-IV Autobill/ES-III Fabrication Rules.
	

 	

18.	

Combined vacuum degreasing/annealing temperature profiles.
	

 	

19.	

Design and process parameters for improving cutting tolerances and reducing Electro-chemically induced surface effects on ECM cutting operations.
	

*	

20.	

Drawing and annealing methodology for manufacturing composite tubing for stent application.
	

*	

21.	

Methodology and parameters for Electro-polishing monolithic and composite stents.
	

*	

22.	

Strip edge conditioning, edge profiles, and operating parameters for laser weld tube mill.
	

*	

23.	

Program and operating parameters for laser cutting of stents.

AGREEMENT:  

        It is hereby agreed that the undersigned to this Agreement will keep "secret" the above list of proprietary elements or trade secrets of which he or she gains
knowledge while employed by UTI
Corporation, until such time as the information shall become public knowledge, by authorized publication by UTI Corporation, or by others who independently discover and publish this knowledge. 

	WITNESSED BY:	 	 	 	EMPLOYEE:	 	 
	(Division Official)	 	
 (Signature)	 	 	 	
 (Signature)
	

Janice L. Korenkiewicz
	
 	

Gary D. Curtis

	(Type or Print Name)	 	(Type or Print Name)
	

4/7/03
	
 	

4/7/03

	(Date)	 	(Date)

2

  

	UTI	 	Uniform Tubes
	American Technical Molding • Micro Med Machining • Noble-Met, Ltd. • Spectrum Manufacturing	 	 
	Star Guide • Stent Technologies • Uniform Tubes • Uniform Tubes-Europe • UTI-SFM • Utitec	 	 

This Employment Contract may not be signed until a Trade Secrets Agreement Form (U-1966) and an Annual Disclosure Form (U-1965) have been
executed.

        Date
of Agreement 04/07/2003 

EMPLOYMENT CONTRACT  

        THIS AGREEMENT executed in duplicate this 7th day of April, 2003, by and between UTI Corporation,
whose principal place of business is located at 200 West Seventh Avenue, Collegeville, Pennsylvania (hereinafter 

	referred to as CORPORATION and	 	Gary D. Curtis
	 	 	
 Employee's Name (Typed or Printed)

	

of	
 	

96 Grist Mill Road, Monroe, CT 06468
	 	 	
 Employee's Address (Typed or Printed)

(hereinafter
referred to for convenience of reference as EMPLOYEE whether as a full-time employee, a part-time employee, or as a consultant). 

WITNESSETH:  

        WHEREAS, CORPORATION is engaged or is likely to engage, as part of its business activities and interests, in research and in development, manufacturing, or sales
of metal tubing, tubular parts, electronic components, and software, coaxial cables, microwave components, EDM products and supplies, eyelets, powder metallurgy products, metal bars with special
properties, kinetic energy penetrators, special machines for manufacture or assembly, and related items, management information control systems and software specific thereto; and 

        WHEREAS,
CORPORATION wishes EMPLOYEE to become acquainted with or engaged in such research, development manufacturing, or sales, as well as related business activities and interests of
CORPORATION, in the course of his or her employment by CORPORATION, and EMPLOYEE wishes to do so, for such recompense as CORPORATION and EMPLOYEE may agree upon from time to time; and 

        WHEREAS,
EMPLOYEE in the course of his or her employment by CORPORATION may become acquainted with confidential technical details of the CORPORATION'S business, or may originate, devise
or develop confidential information, technical know-how, or trade secrets involved in or relating to the business activities and interest of CORPORATION, or may make or participate in
making developments, discoveries, inventions, or improvements relating thereto, and the CORPORATION has a list of current proprietary information or trade secrets which, if employed, the EMPLOYEE will
become aware of, it is the policy of CORPORATION that any new EMPLOYEE must read and sign the Trade Secrets Agreement (Form U-1966) and an Annual Disclosure
(Form U-1965) prior to being employed by the CORPORATION. It is also the policy of the CORPORATION that prior to transfer to any area of work in which EMPLOYEE may be exposed to, or
have the opportunity to learn of trade secrets, said EMPLOYEE will sign an Employment Contract, unless signed at time of employment, and an updated Trade Secrets Agreement. Failure to sign these
documents will forfeit EMPLOYEE'S opportunity to work in such a position. 

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        NOW,
THEREFORE, in consideration of the sum of One Dollar ($1.00) and other good and valuable consideration paid by CORPORATION to EMPLOYEE, and EMPLOYEE agreeing to maintain proprietary
information secret, it is hereby agreed as follows: 

        1.     CORPORATION
hereby employs and agrees to employ EMPLOYEE and EMPLOYEE agrees to work for CORPORATION for such period of time and for such compensation as may from time to
time be agreed upon by CORPORATION and EMPLOYEE. 

        2.     The
work is to be performed in the plant or facilities of CORPORATION or at such other place as is designated by CORPORATION. 

        (a)   The
CORPORATION reserves the right to assign the Employment Contract. 

        3.     EMPLOYEE
agrees as follows: 

        (a)   throughout
the period of his or her employment by CORPORATION, EMPLOYEE shall exert his or her best efforts to further the business activities and interests of
CORPORATION, and shall refrain from competing therewith, whether directly or indirectly, and from siding others in doing so, whether for his or her own benefit or profit or otherwise; 

        (b)   that
he or she shall promptly and faithfully do and perform all services pertaining to said employment that are or may be assigned to him or her by CORPORATION during
the term of this contract; 

        (c)   at
all times, both during and after the period of his or her employment by CORPORATION, EMPLOYEE shall refrain, except as authorized in writing by CORPORATION so to do,
from disclosing and from using for the benefit or profit of EMPLOYEE or others or otherwise any trade secret, unpatented development, discovery, invention, improvement, or customer list with which
EMPLOYEE has become acquainted in the course of his or her employment to the extent any of the above have been designated in writing by CORPORATION as "trade secrets" on the Trade Secrets Agreement
and are not general knowledge in the industry. At all times during the period of his or her employment by CORPORATION and for a period of one (1) year after termination of his or her employment
by CORPORATION, provided such are not designated as corporate "trade secrets" which must remain secret, EMPLOYEE shall refrain, except as authorized in writing by CORPORATION so to do, from disclosing
and from using for the benefit or profit of EMPLOYEE or others or otherwise any unpatented development, discovery, invention, or improvement which has been originated, devised or developed by him or
her in whole or in part during the period thereof, whereas CORPORATION shall permit and encourage EMPLOYEE to publish accounts of the same to whatever extent CORPORATION, in its sole discretion, shall
deem such accounts unrelated to CORPORATION'S business activities and interests or the publication thereof appropriate thereto; 

        (d)   that
he or she shall not engage, on the termination of this employment, for any cause whatsoever, in the same or similar line of business as that carried on by
CORPORATION, or work for any individual, firm, partnership, or corporation engaged in such line or similar line of business, within the continental United States for a period of one (1) year
from said termination, except that nothing herein shall be construed to bar employment in a similar field wherein the capabilities used by EMPLOYEE do not require the use or imparting to others of
secret or confidential skills, abilities, or information learned while at CORPORATION and wherein the capabilities used by EMPLOYEE are only those general to the entire field or to bar employment with
a diversified company so long as the employment pertains solely to that part of its business which is not competitive with CORPORATION and provided that CORPORATION receives assurances satisfactory to
it from the prospective employer that EMPLOYEE shall not be required to render services including knowledge of proprietary or trade secrets of the CORPORATION in that part of its business which does
compete with CORPORATION; and that 

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        (e)   any
and all developments, discoveries, inventions, or improvements conceived or made by EMPLOYEE alone or jointly with others during the period of his or her employment
by CORPORATION, whether during or after regular working hours and regardless of where conceived or made, and during the period of one (1) year thereafter, applicable in or to any of the
business activities and interests of CORPORATION, shall be disclosed fully and promptly by EMPLOYEE to CORPORATION and shall become, to the full extent of EMPLOYEE'S right, title and interest therein,
the sole and exclusive property of CORPORATION; EMPLOYEE shall execute and deliver to CORPORATION upon request made at any time, whether during or after the period of his or her
employment by CORPORATION, such applications, assignments, powers of attorney, and other documents as may be presented to EMPLOYEE upon behalf of CORPORATION for the purpose of applying for,
obtaining, or maintaining patents therefor in the United States or any foreign country or for the purpose of conveying such sole and exclusive right, title or interest to CORPORATION or perfecting
CORPORATION'S rights therein; and, upon request made at any time upon behalf of CORPORATION, EMPLOYEE shall assign to CORPORATION all records, drawings, photographs, information and other matters
necessary to give complete reasonable meaning to the agreement in this Paragraph 3.(e) and shall execute all proper papers and give all reasonable assistance, including the giving of
testimony, relating to such developments, discoveries, inventions, or improvements, the preservation of proof of EMPLOYEE'S knowledge thereof or his or her activities with regard thereto, and his or
her right, title and interest therein and conveyance thereof to CORPORATION and perfection of CORPORATION'S rights therein. It is understood that EMPLOYEE shall completely list on the last
page of this Agreement all inventions, if any, patented or unpatented, including the numbers of all patents and patent applications filed thereon and a brief description of all unpatented
inventions, which EMPLOYEE made prior to employment by CORPORATION, and which are to be excluded from the scope of this Agreement. Any patentable improvements made upon the listed inventions
subsequent to employment by CORPORATION and during the period of one (1) year thereafter are to be the property of CORPORATION within the scope of this Agreement; 

        (f)    that
EMPLOYEE shall sign a Trade Secrets Agreement, at time of employment or when requested to do so, listing those major elements which the CORPORATION considers trade
secrets or proprietary and about which he or she will gain or has certain knowledge, and that he or she shall sign an Annual Disclosure at the time of employment or when requested to do so. 

        (g)   that
EMPLOYEE agrees not to induce others to leave. 

        (h)   EMPLOYEE
agrees to provide the CORPORATION injunctive relief for breach of this Agreement. 

        (i)    EMPLOYEE
further agrees that at time of termination, whether voluntary or involuntary, he or she will read the Termination Agreement (Form #U-1977) and
CORPORATION will ask EMPLOYEE to sign a Termination Agreement (Reference UTI Procedure 1540, "Procedure for Termination of Employees"). 

        4.     This
Agreement provides no obligation to EMPLOYEE at death while in service other than pay due to date of death. 

        5.     This
Agreement shall supersede, to whatever extent it may be inconsistent with, and otherwise shall supplement, any and all preceding EMPLOYEE'S agreements and
understandings with regard to the subject matter hereof between EMPLOYEE and CORPORATION or between EMPLOYEE and any other prior employer and shall be binding upon and inure to the benefit of the
parties hereto and the executors, administrators, and other legal representatives of EMPLOYEE and the assigns, successors, and legal representatives of CORPORATION. 

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        6.     EMPLOYEE
certifies that he or she is not now a party of any similar agreement for any other employer containing provisions in conflict with the terms and provisions of
this Agreement. 

        IN
WITNESS WHEREOF and intending to be legally bound, the parties have hereunto set their hands and seals the day and year first above written. 

	 	 	 	 	UTI CORPORATION
	

 	
 	

 	
 	

 	
 	

 	
 	

Division
	 	 	 	 	
	 	 
	

Attest:	
 	

 	
 	

By	
 	

/s/  ANDREW D. FREED      

	 	 	 	 	President
	

 	
 	

 	
 	

By	
 	

Gary Curtis

	 	 	 	 	Employee
	

 Assistant Secretary

(Corporate Seal)	
 	

 	
 	

 	
 	

 
	List of Reserved Inventions:	 	 	 	 	 	 	 	 
	 	 	
	 	 	 	 	 	 

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QuickLinks

TRADE SECRETS AGREEMENT

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