Document:

Exhibit 10.17

ICU Medical, Inc.

 

EMPLOYMENT
AGREEMENT

 

THIS
EMPLOYMENT AGREEMENT is made and entered into as of this
first day of January 2006, by and between ICU Medical, Inc., a Delaware
corporation (“Employer”), and George A. Lopez (“Employee”).

 

RECITALS

 

A.                                    Employer
is engaged in the business of developing and manufacturing safe medical
connectors.

 

B.                                    Employer
desires to continue to employ Employee, and Employee desires to continue to be
employed, on the terms and conditions set forth in this Agreement.

 

C.                                    Prior
to or contemporaneously with the date of this Agreement, Employee and the
Company have entered into an Indemnification Agreement and a Confidentiality
and Inventions Agreement.

 

AGREEMENT

 

Accordingly, in
consideration of the mutual covenants contained herein, the parties agree as
follows:

 

1.                                      TERMS
OF AGREEMENT

 

1.1                               Initial
Term  The initial term of this agreement shall begin on
January 1, 2006 and shall continue until December 31, 2006 unless it is
terminated earlier pursuant to Section 5.

 

1.2                               Renewal
Terms           Notwithstanding Section 1.1, this Agreement
shall be extended and continue in effect, subject to Section 5, until the
earlier of (i) the execution by Employer and Employee of an amendment extending
this Agreement or a new employment agreement or (ii) March 31, 2007 if, but
only if, at December 31, 2006 each of the following is true:

 

a.  This Agreement has not been terminated
pursuant to Section 5 and Employer has not notified Employee of a termination
pursuant to Section 5;

 

b.  Neither Employer not Employee has notified the
other of its or his intention not to extend or renew this Agreement; and

 

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c.  The parties have not yet executed an amendment
extending this Agreement or a new employment agreement.

 

Neither this
Agreement nor the employment of Employee will in any event continue beyond March
31, 2007 unless Employer and Employee execute an amendment extending this
Agreement or a new employment agreement by such date.

 

2.                                      EMPLOYMENT

 

2.1                               Employment
of Employee. Employer hereby hires Employee as President and Chief
Executive Officer. Employee hereby accepts such employment on the terms and
conditions of this Agreement.

 

2.2                               Position
and Duties. Employee shall serve, as President and Chief Executive
Officer of Employer and shall have the general powers and duties of management
usually vested in that office in a corporation and such other powers and duties
as may be prescribed by the Board of Directors or the Bylaws of Employer. In
this position, Employee will report directly to, and be subject to the
supervision of the Board of Directors.

 

2.3                               Standard
of Performance. Employee agrees that he will at all times faithfully
and industriously and to the best of his/her ability, experience and talents
perform all of the duties that may be required of and from him/her pursuant to
the terms of this Agreement. Such duties shall be performed at such place or
places as the interests, needs, business and opportunities of Employer shall
require or render advisable.

 

2.4                               Exclusive
Service. Employee shall devote all of his business energies and
abilities and all of his productive time to the performance of his duties under
this Agreement (reasonable absences during holidays and vacations excepted),
and shall not, without the prior written consent of Employer, render to others
any service of any kind (whether or not for compensation) that, in the opinion
of Employer, would materially interfere with the performance of his/her duties
under this Agreement.

 

Employee shall not,
without the prior written consent of Employer, maintain any affiliation with,
whether as an agent, consultant, employee, officer, director, trustee or
otherwise, nor shall s/he directly or indirectly render any services of an
advisory nature or otherwise to, or participate or engage in, any other
business activity.

 

3.                                      COMPENSATION

 

3.1                               Compensation.
During the term of this Agreement, Employer shall pay the amounts and
provide the benefits described in this Section 3, and Employee agrees to accept
such amounts and benefits in full payment for Employee’s services under this
Agreement.

 

2

 

3.2                               Base
Salary. Employer shall pay to Employee a base salary of $ 500,000
annually in equal installments payable no less frequently than semi-monthly.

 

3.3                               Incentive
Bonus Compensation. Employee shall be eligible to receive a bonus equal
to $550,000 which is equal to one-hundred ten (110%) percent of the base
salary, as set forth in section 3.2 and an additional bonus of $500,000. Terms
and conditions of payment of these bonuses shall be determined by the
Compensation Committee, Board of Directors of Employer.

 

3.4                               Fringe
Benefits. Subject to Section 3.6 and upon satisfaction of the
applicable eligibility requirements, Employee shall be entitled to all fringe
benefits which Employer may make generally available from time to time for its
executive employees. Such benefits shall include without limitation those
available, if any, under any group insurance, profit sharing, pension or
retirement plans or sick leave policy.

 

3.5                               Vacation
and Holiday. Employee shall be entitled to vacations and holidays in
accordance with Employer’s policies in effect from time to time and published
in the Employer’s Employee Handbook. Employee is entitled to additional
vacation time entirely at the sole discretion of employee.

 

3.6                               Deduction
from Compensation. Employer shall deduct and withhold from all
compensation payable to Employee all amounts required to be deducted or
withheld pursuant to any present or future law, ordinance, regulation, order,
writ, judgment, or decree requiring such deduction and withholding.

 

3.7                               Disability
Severance Benefits. Should Employee’s employment hereunder be
terminated by reason of his/her total disability, Employer shall pay Employee,
within 30 days of termination, a lump sum severance payment equal to 50% of the
base salary in Section 3.2, and regularly accrued salary for any pay periods
worked by the employee, but not paid. Total disability means Employee is unable
to perform his/her duties for a consecutive period of six months due to bodily
injury or sickness, including mental or nervous disorder, as determined by a
physician selected by Employer, and while disabled s/he does not engage in any
employment for wage or profit.

 

Employer’s obligation to
pay disability severance benefits shall be reduced by any payments for which
s/he and his/her dependents are eligible under the Federal Social Security Act,
and any payment to which s/he is eligible under the Worker’s Compensation Law,
Unemployment Insurance Code or other similar legislation, or under any other
plan or insurance maintained and paid for by Employer providing benefits for
loss of time from disability or unemployment.

 

4.                                      REIMBURSEMENT
OF EXPENSES

 

Employer shall pay to or
reimburse Employee for those travel, promotional and similar expenditures
incurred by Employee which Employer determines are reasonably necessary for the
proper discharge of Employee’s duties under this Agreement and for which Employee
submits appropriate receipts and indicates the amount, date, location and

 

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business character,
provided that the nature and general amount of such expenditures is either in
accordance with the Company’s policies announced from time to time or approved
in advance.

 

5.                                      TERMINATION

 

5.1                               Termination
Date. The date on which this Agreement terminates shall be the “Termination
Date.” After the Termination Date, Employee shall not be employed by Employer, Employer
shall promptly pay to Employee any compensation under this Agreement accrued
but unpaid as of that date, and Employee shall not be entitled to any
compensation from Employer for the performance by Employee after that date of
any obligations of Employee to Employer under this Agreement.

 

5.2                               Termination
Without Cause. Without cause, Employer may terminate this Agreement at
any time for any reason, or no reason (including without limitation the
Employee’s disability as a result of any physical or mental condition that
Employer determines will prevent Employee from performing the essential
functions of the job, with or without reasonable accommodation) by giving
Employee 60 days written notice. If requested by Employer to do so, Employee
shall continue to perform his/her duties under this Agreement during such 60
day period. This Agreement shall automatically and without further action of
Employer terminate on the death of Employee.

 

5.3                               Termination
For Cause. Employer may terminate this Agreement at any time without
prior notice for “cause” or in the event that Employee does not cure a breach
of any provision of this Agreement within five days after Employer delivers
demand to Employee to cure such breach. For this purpose, “cause” shall
include, without limitation, (i) Employee’s insubordination, meaning the
willful failure to conform to or conduct himself/herself in accordance with the
policies and standards of Employer or the refusal to perform the duties
assigned pursuant to Section 2 or assigned by the Board of Directors; (ii) the
dishonesty of Employee; (iii) Employee’s conviction for a felony or for fraud,
embezzlement or any other act of moral turpitude; (iv) any willful violation by
Employee of laws or regulations applicable to Employer’s business; or (v)
Employee’s gross negligence or willful misconduct in the performance of his/her
duties under this Agreement which would adversely affect the business or
reputation of Employer. A termination by Employee at any time after the
occurrence of an event which would constitute cause for termination by Employer
shall be considered a termination by Employer for cause.

 

5.4                               Return
of Employer Property. Within five days after the Termination Date,
Employee shall return to Employer all products, books, records, forms,
specifications, formulae, data processes, designs, papers and writings relating
to the business of Employer, including without limitation proprietary or
licensed computer programs, customer lists and customer data, and/or copies or
duplicates thereof in Employee’s possession or under Employee’s control. Employee
shall not retain any copies or duplicates of such property and all licenses
granted to him/her by Employer to use computer programs or software shall be
revoked on the Termination Date.

 

4

 

6.                                      NONCOMPETITION

 

6.1                               Noncompetition
During Employment. During the term of this Agreement, Employee shall
not, without the prior written consent of Employer, directly or indirectly
render services of a business, professional, or commercial nature to any person
or firm, whether for compensation or otherwise, or engage in any activity
directly or indirectly or as an officer, director, employee, consultant, or
holder of more than one (1%) percent of the capital stock of any other
corporation. Otherwise, Employee may make personal investments in any other
business so long as these investments do not require him/her to participate in
the operation of the companies in which s/he invests.

 

6.2                               Non-solicitation.
Employee acknowledges that s/he will have access at the highest level to,
and the opportunity to acquire knowledge of, valuable, confidential and
proprietary information relating to the business of the Company and,
accordingly, in order to preserve the value of such information for the
Company, Employee covenants and agrees as follows:

 

(a)                                  Employee
shall not, during the term of this Agreement and for a period of one year
following the termination of this Agreement for any reason, without the prior
written consent of the Company, directly or indirectly offer employment to, or
engage the services of, persons who were employed in the Company during the 12
month period preceding such termination date.

 

(b)                                 The
Employee shall not, during the term of this Agreement and for a period of one
year following termination of this Agreement for any reason, solicit, for
himself or others, any person or entity which was a customer of the Company on
such termination date.

 

7.                                      OTHER
PROVISIONS

 

7.1                               Compliance
With Other Agreements. Employee represents and warrants to Employer
that the execution, delivery and performance of this Agreement will not
conflict with or result in the violation or breach of any term or provision of
any order, judgment, injunction, contract, agreement, commitment or other
arrangement to which Employee is a party or by which s/he is bound, including
without limitation any agreement restricting the sale of products similar to
Employer’s products in any geographic location or otherwise. Employee
acknowledges that Employer is relying on his/her representation and warranty in
entering into this Agreement, and agrees to indemnify Employer from and against
all claims, demands, causes of actions, damages, costs or expenses (including
attorneys’ fees) arising from any breach thereof.

 

7.2                               Injunctive
Relief. Employee acknowledges that the services to be rendered under
this Agreement and the items described in Sections 5.4, 6 and 7 are of a
special, unique and extraordinary character, that it would be difficult or impossible
to replace such services or to compensate Employer in money damages for a
breach of this Agreement. Accordingly, Employee agrees and consents that if
s/he violates any of the provisions of this Agreement, Employer, in addition to
any other rights and remedies available under this Agreement or otherwise,
shall be entitled to temporary and permanent injunctive relief, without the
necessity of proving actual damages and without the necessity of posting any
bond or other undertaking in connection therewith.

 

5

 

7.3                               Attorneys’
Fees. The prevailing party in any suit, arbitration or other proceeding
brought to enforce any provisions of this Agreement, shall be entitled to
recover all costs and expenses of the proceeding and investigation (not limited
to court costs), including attorneys’ fees at the hourly rates usually charged
by that party’s attorneys.

 

7.4                               Nondelegable
Duties. This is a contract for Employee’s personal services. The duties
of Employee under this Agreement are personal and may not be delegated or
transferred in any manner whatsoever, and shall not be subject to involuntary
alienation, assignment or transfer by Employee during his/her life.

 

7.5                               Entire
Agreement. This Agreement is the only agreement and understanding
between the parties pertaining to the subject matter of this Agreement, and
supersedes all prior agreements, summaries of agreements, descriptions of
compensation packages, discussions, negotiations, understandings,
representations or warranties, whether verbal or written, between the parties
pertaining to such subject matter. Notwithstanding the foregoing, the parties
intend to be bound by the terms of the Indemnification Agreement and the
Confidentiality and Inventions Agreement, the Retention Agreement entered into
as of April 18, 2001, and the Long-Term Retention Plan, which govern the
relationship of the parties with respect to subject matter of those respective
agreements.

 

7.6                               Governing
Law. The validity, construction and performance of this Agreement shall
be governed by the laws, without regard to the laws as to choice or conflict of
laws, of the State of California.

 

7.7                               Severability.
The invalidity or unenforceability of any particular provision of this
Agreement shall not affect the other provisions, and this Agreement shall be
construed in all respects as if any invalid or unenforceable provision were
omitted.

 

7.8                               Amendment
and Waiver. This Agreement may be amended, modified or supplemented
only by a writing executed by each of the parties. Either party may in writing
waive any provision of this Agreement to the extent such provision is for the
benefit of the waiving party. No waiver by either party of a breach of any
provision of this Agreement shall be construed as a waiver of any subsequent or
different breach, and no forbearance by a party to seek a remedy for
noncompliance or breach by the other party shall be construed as a waiver of
any right or remedy with respect to such noncompliance or breach.

 

7.9                               Binding
Effect. The provisions of this Agreement shall bind and inure to the
benefit of the parties and their respective successors and permitted assigns.

 

7.10                        Notice.
Any notices or communications required or permitted by this Agreement shall
be deemed sufficiently given if in writing and when delivered personally or 48
hours after deposit with the United State Postal Service as registered or
certified mail, postage prepaid and addressed as follows:

 

(a)                                  If
to Employer, to the principal office of Employer in the State of California,
marked “Attention: President”; or

 

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(b)                                 If
to Employee, to the most recent address for Employee appearing in Employer’s
records.

 

7.11                        Headings.
The sections and other headings contained in this Agreement are for
reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement.

 

IN
WITNESS WHEREOF, the parties hereto have executed this
Agreement as of the day and year first above written.

 

	
   

  	
  EMPLOYER

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ICU MEDICAL, INC.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
  /s/ Michael T.
  Kovalchik, III, MD 

  	
   

  	
  March 6, 2006

  
	
   

  	
  Michael T. Kovalchik,
  III, MD

  	
  date

  
	
   

  	
  Chairman, Compensation
  Committee

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  EMPLOYEE

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
  /s/ George A. Lopez,
  M.D.

  	
   

  	
  March 3, 2006

  
	
   

  	
  George A. Lopez, M.D. 

  	
  date

  
	
   

  	
  President and C.E.O. 

  	
   

  
						

 

7Exhibit 10.18

 

ICU Medical, Inc.

 

EMPLOYMENT
AGREEMENT

 

THIS
EMPLOYMENT AGREEMENT is made and entered into as of this
first day of January 2006, by and between ICU Medical, Inc., a Delaware
corporation (“Employer”), and                                     (“Employee”).

 

RECITALS

 

A.                                    Employer
is engaged in the business of developing and manufacturing safe medical
connectors.

 

B.                                    Employer
desires to continue to employ Employee, and Employee desires to continue to be
employed, on the terms and conditions set forth in this Agreement.

 

C.                                    Prior
to or contemporaneously with the date of this Agreement, Employee and the
Company have entered into an Indemnification Agreement and a Confidentiality
and Inventions Agreement.

 

AGREEMENT

 

Accordingly, in
consideration of the mutual covenants contained herein, the parties agree as
follows:

 

1.                                      TERMS
OF AGREEMENT

 

1.1                               Initial
Term   The initial term of this
agreement shall begin on January 1, 2006 and shall continue until June 30, 2006
unless it is terminated earlier pursuant to Section 5.

 

1.2                               Renewal
Terms           Notwithstanding Section 1.1, this Agreement
shall be extended and continue in effect, subject to Section 5, until the
earlier of (i) the execution by Employer and Employee of an amendment extending
this Agreement or a new employment agreement or (ii) September 30, 2006 if, but
only if, at June 30, 2006 each of the following is true:

 

a.  This Agreement has not been terminated
pursuant to Section 5 and Employer has not notified Employee of a termination
pursuant to Section 5;

 

b.  Neither Employer nor Employee has notified
the other of its or his intention not to extend or renew this Agreement; and

 

1

 

c.  The parties have not yet executed an
amendment extending this Agreement or a new employment agreement.

 

Neither this
Agreement nor the employment of Employee will in any event continue beyond September
30, 2006 unless Employer and Employee execute an amendment extending this
Agreement or a new employment agreement by such date.

 

2.                                      EMPLOYMENT

 

2.1                               Employment
of Employee.  Employer hereby
hires Employee as                                            .
Employee hereby accepts such employment on the terms and conditions of this
Agreement.

 

2.2                               Position
and Duties.    Employee shall
serve as                                     
                                     .of
Employer and shall have the general powers and duties of management usually
vested in that office in a corporation and such other powers and duties as may
be prescribed by the Board of Directors or the Bylaws of Employer.  In this position, Employee will report
directly to, and be subject to the supervision of the President and Chief
Executive Officer.

 

2.3                               Standard
of Performance.  Employee agrees
that s/he will at all times faithfully and industriously and to the best of
his/her ability, experience and talents perform all of the duties that may be
required of and from him/her pursuant to the terms of this Agreement.  Such duties shall be performed at such place
or places as the interests, needs, business and opportunities of Employer shall
require or render advisable.

 

2.4                               Exclusive
Service.  Employee shall devote
all of his/her business energies and abilities and all of his/her productive
time to the performance of his/her duties under this Agreement (reasonable
absences during holidays and vacations excepted), and shall not, without the
prior written consent of Employer, render to others any service of any kind
(whether or not for compensation) that, in the opinion of Employer, would
materially interfere with the performance of his/her duties under this
Agreement.

 

Employee shall not,
without the prior written consent of Employer, maintain any affiliation with,
whether as an agent, consultant, employee, officer, director, trustee or
otherwise, nor shall s/he directly or indirectly render any services of an
advisory nature or otherwise to, or participate or engage in, any other
business activity.

 

3.                                      COMPENSATION

 

3.1                               Compensation.  During the term of this Agreement, Employer
shall pay the amounts and provide the benefits described in this Section 3, and
Employee agrees to accept such amounts and benefits in full payment for
Employee’s services under this Agreement.

 

2

 

3.2                               Base
Salary.  Employer shall pay to
Employee a base salary of $                        semi-annually
in equal installments payable no less frequently than semi-monthly.

 

3.3                               Incentive
Bonus Compensation. Employee shall be eligible to receive a bonus equal
to $                     
which is equal to                       
percent of the base salary, as set forth in section 3.2 at the sole discretion
of the Chief Executive Officer.

 

3.4                               Fringe
Benefits.  Subject to Section 3.6
and upon satisfaction of the applicable eligibility requirements, Employee
shall be entitled to all fringe benefits which Employer may make generally
available from time to time for its executive employees.  Such benefits shall include without limitation
those available, if any, under any group insurance, profit sharing, pension or
retirement plans or sick leave policy.

 

3.5                               Vacation
and Holiday.  Employee shall be
entitled to vacations and holidays in accordance with Employer’s policies in
effect from time to time and published in the Employer’s Employee Handbook.

 

3.6                               Deduction
from Compensation.  Employer
shall deduct and withhold from all compensation payable to Employee all amounts
required to be deducted or withheld pursuant to any present or future law,
ordinance, regulation, order, writ, judgment, or decree requiring such
deduction and withholding.

 

3.7                               Disability
Severance Benefits.  Should
Employee’s employment hereunder be terminated by reason of his/her total
disability, Employer shall pay Employee, within 30 days of termination, a lump
sum severance payment equal to 50% of the base salary in Section 3.2, in
addition to accrued vacation and regularly accrued salary for any pay periods
worked by the employee, but not paid. 
Total disability means Employee is unable to perform his/her duties for
a consecutive period of six months due to bodily injury or sickness, including
mental or nervous disorder, as determined by a physician selected by Employer,
and while disabled s/he does not engage in any employment for wage or profit.

 

Employer’s obligation to
pay disability severance benefits shall be reduced by any payments for which
s/he and his/her dependents are eligible under the Federal Social Security Act,
and any payment to which s/he is eligible under the Worker’s Compensation Law, Unemployment
Insurance Code or other similar legislation, or under any other plan or
insurance maintained and paid for by Employer providing benefits for loss of
time from disability or unemployment.

 

4.                                      REIMBURSEMENT
OF EXPENSES

 

Employer shall pay to or reimburse
Employee for those travel, promotional and similar expenditures incurred by
Employee which Employer determines are reasonably necessary for the proper
discharge of Employee’s duties under this Agreement and for which Employee
submits appropriate receipts and indicates the amount, date, location and
business character, provided that the nature and general amount of such
expenditures is either in accordance with the Company’s policies announced from
time to time or approved in advance.

 

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5.                                      TERMINATION

 

5.1                               Termination
Date.  The date on which this
Agreement terminates shall be the “Termination Date.”  After the Termination Date, Employee shall
not be employed by Employer, Employer shall promptly pay to Employee any
compensation under this Agreement accrued but unpaid as of that date, and
Employee shall not be entitled to any compensation from Employer for the
performance by Employee after that date of any obligations of Employee to
Employer under this Agreement.

 

5.2                               Termination
Without Cause.  Without cause,
Employer may terminate this Agreement at any time for any reason, or no reason
(including without limitation the Employee’s disability as a result of any
physical or mental condition that Employer determines will prevent Employee
from performing the essential functions of the job, with or without reasonable
accommodation) by giving Employee 60 days written notice.  If requested by Employer to do so, Employee shall
continue to perform his/her duties under this Agreement during such 60 day
period.  This Agreement shall
automatically and without further action of Employer terminate on the death of
Employee.

 

5.3                               Termination
For Cause.  Employer may
terminate this Agreement at any time without prior notice for “cause” or in the
event that Employee does not cure a breach of any provision of this Agreement
within five days after Employer delivers demand to Employee to cure such
breach.  For this purpose, “cause” shall
include, without limitation, (i) Employee’s insubordination, meaning the
willful failure to conform to or conduct himself/herself in accordance with the
policies and standards of Employer or the refusal to perform the duties
assigned pursuant to Section 2 or assigned by the Board of Directors; (ii) the
dishonesty of Employee; (iii) Employee’s conviction for a felony or for fraud,
embezzlement or any other act of moral turpitude; (iv) any willful violation by
Employee of laws or regulations applicable to Employer’s business; or (v)
Employee’s gross negligence or willful misconduct in the performance of his/her
duties under this Agreement which would adversely affect the business or
reputation of Employer.  A termination by
Employee at any time after the occurrence of an event which would constitute
cause for termination by Employer shall be considered a termination by Employer
for cause.

 

5.4                               Return
of Employer Property.  Within
five days after the Termination Date, Employee shall return to Employer all
products, books, records, forms, specifications, formulae, data processes,
designs, papers and writings relating to the business of Employer, including
without limitation proprietary or licensed computer programs, customer lists
and customer data, and/or copies or duplicates thereof in Employee’s possession
or under Employee’s control.  Employee
shall not retain any copies or duplicates of such property and all licenses
granted to him/her by Employer to use computer programs or software shall be
revoked on the Termination Date.

 

6.                                      NONCOMPETITION

 

6.1                               Noncompetition
During Employment.  During the
term of this Agreement, Employee shall not, without the prior written consent
of Employer, directly or indirectly render services of a business,
professional, or commercial nature to any person or firm, whether for
compensation or otherwise, or engage in any activity directly or indirectly or
as an

 

4

 

officer, director,
employee, consultant, or holder of more than one (1%) percent of the capital
stock of any other corporation. 
Otherwise, Employee may make personal investments in any other business
so long as these investments do not require him/her to participate in the
operation of the companies in which s/he invests.

 

6.2                               Non-solicitation.  Employee acknowledges that s/he will have
access at the highest level to, and the opportunity to acquire knowledge of,
valuable, confidential and proprietary information relating to the business of
the Company and, accordingly, in order to preserve the value of such information
for the Company, Employee covenants and agrees as follows:

 

(a)                                  Employee
shall not, during the term of this Agreement and for a period of one year
following the termination of this Agreement for any reason, without the prior
written consent of the Company, directly or indirectly offer employment to, or
engage the services of, persons who were employed in the Company during the 12
month period preceding such termination date.

 

(b)                                 The
Employee shall not, during the term of this Agreement and for a period of one
year following termination of this Agreement for any reason, solicit, for
himself or others, any person or entity which was a customer of the Company on
such termination date.

 

7.                                      OTHER
PROVISIONS

 

7.1                               Compliance
With Other Agreements.  Employee
represents and warrants to Employer that the execution, delivery and
performance of this Agreement will not conflict with or result in the violation
or breach of any term or provision of any order, judgment, injunction,
contract, agreement, commitment or other arrangement to which Employee is a
party or by which s/he is bound, including without limitation any agreement
restricting the sale of products similar to Employer’s products in any
geographic location or otherwise. 
Employee acknowledges that Employer is relying on his/her representation
and warranty in entering into this Agreement, and agrees to indemnify Employer
from and against all claims, demands, causes of actions, damages, costs or
expenses (including attorneys’ fees) arising from any breach thereof.

 

7.2                               Injunctive
Relief.  Employee acknowledges
that the services to be rendered under this Agreement and the items described
in Sections 5.4, 6 and 7 are of a special, unique and extraordinary character,
that it would be difficult or impossible to replace such services or to
compensate Employer in money damages for a breach of this Agreement.  Accordingly, Employee agrees and consents
that if s/he violates any of the provisions of this Agreement, Employer, in addition
to any other rights and remedies available under this Agreement or otherwise,
shall be entitled to temporary and permanent injunctive relief, without the
necessity of proving actual damages and without the necessity of posting any
bond or other undertaking in connection therewith.

 

7.3                               Attorneys’
Fees.  The prevailing party in
any suit or other proceeding brought to enforce any provisions of this
Agreement, shall be entitled to recover all

 

5

 

costs and expenses of the
proceeding and investigation (not limited to court costs), including attorneys’
fees at the hourly rates usually charged by that party’s attorneys.

 

7.4                               Nondelegable
Duties.  This is a contract for
Employee’s personal services.  The duties
of Employee under this Agreement are personal and may not be delegated or
transferred in any manner whatsoever, and shall not be subject to involuntary
alienation, assignment or transfer by Employee during his/her life.

 

7.5                               Entire
Agreement. No discussions or comments made by the Employer’s agents,
personnel, staff, officers or attorneys concerning the subject matter of this
Agreement evidence or imply any agreement other than the terms specifically
included herein. No provision can be waived or modified by conduct or oral
agreement either before or after execution of this Agreement. No
representation, understanding, promise or condition shall be enforceable
against any party unless it is contained in this Agreement, except as set forth
in the Indemnification Agreement and Confidentiality and Inventions Agreement.
If there is any conflict between the terms, conditions and provisions of this
Agreement and those of any other agreement or instrument, the terms, conditions
and provisions of this Agreement shall prevail. 
This Agreement is the only agreement and understanding between the
parties pertaining to the subject matter of this Agreement, and supersedes all
prior agreements, summaries of agreements, descriptions of compensation
packages, discussions, negotiations, understandings, representations or
warranties, whether verbal or written, between the parties pertaining to such
subject matter.  Notwithstanding the
foregoing, the parties intend to be bound by the terms of the Indemnification
Agreement and the Confidentiality and Inventions Agreement, and the Long-Term
Retention Plan, which govern the relationship of the parties with respect to
subject matter of those respective agreements.

 

7.6                               Governing
Law.  The validity, construction
and performance of this Agreement shall be governed by the laws, without regard
to the laws as to choice or conflict of laws, of the State of California.

 

7.7                               Severability.  The invalidity or unenforceability of any
particular provision of this Agreement shall not affect the other provisions,
and this Agreement shall be construed in all respects as if any invalid or
unenforceable provision were omitted.

 

7.8                               Amendment
and Waiver. This Agreement may not be modified or amended except by a
written agreement signed by the President/CEO of Employer, and Employee.  Either party may in writing waive any
provision of this Agreement to the extent such provision is for the benefit of
the waiving party.  No waiver by either
party of a breach of any provision of this Agreement shall be construed as a
waiver of any subsequent or different breach, and no forbearance by a party to
seek a remedy for noncompliance or breach by the other party shall be construed
as a waiver of any right or remedy with respect to such noncompliance or
breach.

 

7.9                               Binding
Effect.  The provisions of this
Agreement shall bind and inure to the benefit of the parties and their
respective successors and permitted assigns.

 

6

 

7.10                        Notice.  Any notices or communications required or
permitted by this Agreement shall be deemed sufficiently given if in writing
and when delivered personally or 48 hours after deposit with the United State
Postal Service as registered or certified mail, postage prepaid and addressed
as follows:

 

(a)                                  If
to Employer, to the principal office of Employer in the State of California,
marked “Attention:  President”; or

 

(b)                                 If
to Employee, to the most recent address for Employee appearing in Employer’s
records.

 

7.11                        Headings.  The sections and other headings contained in
this Agreement are for reference purposes only and shall not affect in any way
the meaning or interpretation of this Agreement.

 

IN
WITNESS WHEREOF, the parties hereto have executed this
Agreement as of the day and year first above written.

 

	
   

  	
      EMPLOYER

  	
   

  
	
   

  	
      ICU MEDICAL, INC.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By 

  	
   

  	
   

  	
   

  
	
   

  	
         George
  A. Lopez, M.D.

  	
  date

  
	
   

  	
         President
  and C.E.O.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
      EMPLOYEE

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By 

  	
   

  	
   

  	
   

  
	
   

  	
      [Employee]

  	
  date

  

 

7

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