Document:

Prepared by R.R. Donnelley Financial -- Distribution Agreement

 Exhibit 10.26 
  
 Distribution Agreement 
  

			
	 Between
	 	BIOTRONIK AG
		
	 and
	 	CONOR Medsystems Ireland, Ltd.
		
	 Concerning:
	 	Distribution of CONOR stent systems

  
 This document and all the information
contained herein are the Confidential Information (as defined herein) of each of BIOTRONIK AG and Conor Medsystems Ireland, Ltd. 
  
 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 This agreement is made as of May 25, 2004 (the “Effective Date”) 
  
 by and between 
  
 BIOTRONIK AG 
  
 a corporation organized under the laws of Switzerland and having its principal place of business at Ackerstr. 6, CH-8180 Bülach, Switzerland (in the following
referred to as “BIOTRONIK”), represented by its Managing Director Dr. Claus Martini and its Chairman of the Board Christoph Böhmer. 
  
 and 
  
 CONOR Medsystems Ireland, Ltd. 
  
 a company founded under the
laws of Ireland and having its registered office at 30 Herbert Street, Dublin 2, Ireland (in the following referred to as “CONOR”). 
  
 Each of BIOTRONIK and CONOR may be herein referred to as a “Party” and collectively referred to as “the Parties.” 
  
 WHEREAS, BIOTRONIK is one of the leading manufacturers of medical devices for the
electrotherapy of the heart and vascular intervention. 
  
 WHEREAS, CONOR is a
manufacturer of a variety of medical devices for vascular intervention. 
  
 WHEREAS, CONOR has developed and manufactures a proprietary bare cobalt chromium stent designated “Unistar” and a cobalt chromium paclitaxel drug eluting stent designated “Costar,” both for the treatment of coronary
vascular disease in humans. 
  
 WHEREAS, CONOR wishes to supply BIOTRONIK with the
Unistar and Costar stents, and certain other products (collectively and as defined more particularly below, the “Products”) and to appoint BIOTRONIK as its exclusive distributor in the territory set forth in Exhibit B.  

 
 WHEREAS, BIOTRONIK wishes to sell the Products and to be appointed as the exclusive
distributor in the territory set forth in Exhibit B. 
  
 NOW, THEREFORE, in
consideration of the mutual undertakings, obligations and covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the Parties agree as follows (“Agreement”):

	

  

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 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

	1	Definitions 

  

	1.1	Affiliate 

  
 For the purpose of this Agreement the term “Affiliate” shall mean 
  

	 	(i)	any other entity/person of which the securities or other ownership interests representing 50% (fifty percent) or more of the equity or 50% (fifty percent) or more of the ordinary
voting power or 50% (fifty percent) or more of the general partnership interests are, at the time of such determination, owned, controlled or held, directly or indirectly, by such entity/person, or 

  

	 	(ii)	any other entity/person, which at the time of such determination, is controlling, controlled by or under common control with, such entity/person. 

  
 As used herein, the term “control,” whether used as a noun or
verb, refers to the possession, directly or indirectly, of the power to direct, or cause the direction of, the management or policies of a entity/person, whether through the ownership of voting securities, by contract or otherwise. 
  

	1.2	Claim 

  
 For the purpose of this Agreement Claim shall mean: a suit filed against BIOTRONIK or any Affiliate of BIOTRONIK or any dealer, sales representative or agent belonging to the BIOTRONIK sales force by a third party
alleging that the manufacture, use or sale of Product infringes the proprietary rights of such third party. 
  

	1.3	Confidential Information 

  
 Confidential Information shall mean all information included in the definition of “Confidential Information” as defined in the Confidentiality
agreement between the Parties [*].  
  

	1.4	Products 

  
 Product shall mean the Unistar stent device, the Costar stent device, or any other stent device listed and specified in Exhibit A, which is attached to this Agreement. 
  

	1.5	Product Specification 

  
 Any and all requirements for the manufacture and characteristics of the Product, including but not limited to technical, physical, chemical,
environmental, labelling, packaging and supplementary requirements, that are exclusively described in the Product Specifications in Exhibit A which is attached to this Agreement. 
  

	1.6	Territory 

  
 The Territory includes all countries and regions as listed in Exhibit B which is attached to this Agreement 
  

	1.7	Warranty Period 

  
 Warranty Period shall mean the time period of [*] months after shipment of a Product to BIOTRONIK 
  

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 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

	2	Scope 

  

	2.1	Subject 

  
 Subject to the terms and conditions contained in this Agreement, CONOR hereby agrees to supply BIOTRONIK with the Product listed and specified in Product Specifications in Exhibit A and appoints BIOTRONIK, and
BIOTRONIK hereby accepts such appointment, as CONOR’s exclusive distributor of the Products to be sold by BIOTRONIK in the Territory listed in Exhibit B during the term of this Agreement. 
  

	2.2	Territory 

  
 CONOR is appointing BIOTRONIK as its distributor hereunder with respect to Products for sale to any purchasers for use (or for re-sale in the case of BIOTRONIK’s sub-distributors) in the Territory If BIOTRONIK
receives any order from a prospective purchaser for use or re-sale outside of the Territory, BIOTRONIK shall immediately refer that order to CONOR and shall not accept any such orders. 
  

	2.3	Sub-Distributors 

  
 BIOTRONIK may appoint Affiliates of BIOTRONIK, dealers, sales representatives or agents belonging to the BIOTRONIK sales force to promote and/or
distribute the Products within the Territory. CONOR is entitled to receive from BIOTRONIK general information about its Affiliates, dealers, sales representatives or agents as CONOR may reasonably request. 
  

	2.4	Alteration of Products, Expired Products 

  
 BIOTRONIK shall not be allowed to alter, amend or modify the Product without prior written consent of CONOR. 
  
 BIOTRONIK shall perform state-of-the-art stock keeping and shall not sell
any Products beyond their stated expiration date. CONOR will not have any responsibility under this Agreement with respect to expired Products and therefore will not refurbish or replace expired Products once accepted by BIOTRONIK. 
  

	2.5	Marketing Efforts 

  
 BIOTRONIK shall have the following obligations with respect to the marketing and distribution of the Products: 
  

	 	(i)	To use commercially reasonable efforts to promote, market, and distribute the Products in the Territory; 

  

	 	(ii)	to provide adequate and appropriate training to its staff concerning the Products; 

  

	 	(iii)	to use only sales and technical literature as well as promotional artwork and training materials provided by CONOR, provided that BIOTRONIK may alter such materials or develop any
other materials in connection with the marketing and distribution of Products (product brochures and sales aids), which shall be subject to CONOR prior written approval. CONOR retains all right, title and interest in and to such materials.

  

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 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

	2.6	Customer Service 

  
 BIOTRONIK shall provide customer service capabilities for Product, including, but not limited to, taking orders, responding to customer inquiries,
fulfilling requests for quotes on Product pricing, forwarding Product complaints to CONOR or its European Representative on a timely basis, to the extent legally required and providing such assistance and information as is reasonably requested.
 
  

	2.7	Sales and Technical Literature 

  
 CONOR shall provide to BIOTRONIK reasonable quantities of already existing sales, advertising and technical literature and materials required by BIOTRONIK
as CONOR has then prepared and shall make available copies of promotional artwork as CONOR may have prepared, provided that BIOTRONIK shall reimburse CONOR’s reasonable costs thereof. If available, CONOR may provide the same to BIOTRONIK in
electronic format free of charge. 
  
 Any sales, advertising and
technical literature prepared by BIOTRONIK requires CONOR’s approval with regard to regulatory compliance, which approval shall not be unreasonably withheld, and such advertising and technical literature shall reference CONOR as the developer
and manufacturer of the Product, and display the reference at least as prominently as any reference to BIOTRONIK. 
  

	2.8	Marketing and Training Support 

  
 CONOR shall provide free of charge to BIOTRONIK reasonable training support as well as sales samples as set forth in Exhibit A to enable BIOTRONIK to
perform its obligations under this Agreement. In addition, CONOR shall provide BIOTRONIK with reasonable and necessary initial training to BIOTRONIK’s personnel at BIOTRONIK’s location or any other location where the Parties may mutually
agree. 
  
 All reasonable costs and expenses directly related to
any additional training requested by BIOTRONIK shall be charged to and covered by BIOTRONIK. 
  
 Any technical assistance related to the Product and related services as reasonably provided by a manufacturer (e.g. analysis of defective Products,
analysis of Products under complaint, and similar matters) shall be provided by CONOR free of charge during the term of this Agreement. 
  

	2.9	Competing Products 

  
 If during the term of this Agreement BIOTRONIK commercializes in the Territory a drug eluting stent developed by BIOTRONIK or a third party,
BIOTRONIK’s appointment as exclusive distributor of Products under Section 2.1 will convert to co-exclusive distributor of Products. 
  

	3	Forecasts, Purchase Orders, Order Acceptance 

  

	3.1	Forecasts 

  
 BIOTRONIK agrees to provide CONOR with a [*] months forecast indicating BIOTRONIK’s intended purchases of Products detailed to the individual Product by catalogue number, calendar month of forecasted
purchase. 
  
 Such forecast shall be updated by BIOTRONIK on a
rolling monthly basis for the upcoming [*] months period and shall be used for purposes of facilitating BIOTRONIK’s marketing plans and permitting CONOR and its suppliers to meet their lead times for the Product. BIOTRONIK will use its
best efforts to notify CONOR promptly of any changes in its forecast. 
  

	3.2	Purchase Orders 

  
 BIOTRONIK shall order Products by means of written, individual Purchase Orders. The Purchase Order shall specify desired quantities (organized by
catalogue number), requested shipping schedule, shipping instructions, any special requirements, and other similar matters which are necessary for the individual transaction. All orders are subject to acceptance by CONOR, in accordance with Section
3.3. 
  

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 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 The [*] months of each [*] forecast shall be covered by a firm Purchase Order in an amount
of Products equal to that forecast for such [*] period, and the quantities to be ordered in the firm Purchase Order for the [*] month shall not deviate from the prior month’s [*] forecasted quantities for such month by more
than [*]. CONOR shall accept Purchase Orders calling for quantities exceeding the forecasted quantities but may limit accepted quantities to [*] of the most recently forecasted quantities. 
  

	3.3	Order Acceptance 

  
 CONOR shall accept or refuse in writing BIOTRONIK’s issuance of any Purchase Order, within [*] days following the date when the order is
received by CONOR and shall not be refused if within the parameters of Section 3.2. Any Purchase Order that is not rejected within the above stated period shall be deemed accepted. 
  

	3.4	Submission of Purchase Orders before European Regulatory Approval 

  
 If BIOTRONIK submits firm Purchase Orders to CONOR before actual regulatory approval of the Products in Europe (CE-Mark), and if CONOR accepts such
orders, then if the regulatory approval of the Products in Europe (CE-Mark) is not obtained prior to or on the ordered shipment date, then, without further liability of the parties, such Purchase Order shall be deemed completely cancelled.

  

	3.5	Minimum Orders 

  
 BIOTRONIK shall order the minimum quarterly order quantities for Products as shown in Exhibit D. 
  

	4	Delivery, Late Delivery, Shipment Destination, Acceptance 

  

	4.1	Delivery 

  
 CONOR commits to deliver the Products into the possession of a common carrier designated by BIOTRONIK on or before the date specified for such delivery on the relevant Purchase Order. It is BIOTRONIK’s obligation
to notify CONOR of any special packaging requirements (which shall be at BIOTRONIK’s sole expense in accordance with Section 5.1). Unless otherwise agreed in writing by CONOR and BIOTRONIK, all deliveries of the Product shall be FCA (INCOTERMS
2000) CONOR’s facility in Ireland. 
  

	4.2	Late Delivery 

  
 CONOR shall notify BIOTRONIK promptly whenever it anticipates a potential delay in filling any of the Purchase Orders. In the event CONOR fails to ship
Products within [*] days from the accepted delivery date of an accepted Purchase Order, BIOTRONIK has the right to charge CONOR for any documented, reasonable costs BIOTRONIK incurs from third parties directly due to the late delivery (but in
any event not to exceed [*] of the total Purchase Order amount of the late delivery), and afterwards the relevant order shall be deemed automatically cancelled. Such late delivery charges shall be payable to BIOTRONIK by a credit issued by
CONOR to BIOTRONIK within [*] of BIOTRONIK documenting to CONOR the late delivery costs incurred.  
  

	4.3	Partial Delivery 

  
 CONOR is allowed to make partial delivery of a confirmed Purchase Order, provided that all additional transportation costs in excess of those that would
be due for a full order shipment shall be borne by CONOR. 
  

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 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

	4.4	Shipment Destination 

  
 All shipments shall be to a single BIOTRONIK warehousing facility. 
  

	4.5	Packaging and Labeling 

  
 Unless BIOTRONIK requests otherwise, all Products ordered by BIOTRONIK shall be packaged for shipment and storage in accordance with CONOR’s standard
commercial practices. Product packaging and labeling shall be in accordance with the Product Specifications in Exhibit A. 
  
 BIOTRONIK shall initiate translating all user and technical manuals, and advertising and marketing information provided by CONOR into the languages of its
customers and provide CONOR with advance copies of all such materials for approval by CONOR. Any translations in CONOR’s possession as of the Effective Date shall be offered to BIOTRONIK free of charge. Any further translations required to
distribute the Products in the Territory shall be obtained at BIOTRONIK’s expense. BIOTRONIK shall own all such translations and related intellectual property rights, but CONOR shall have a non-exclusive right to use such translations during
the term of this Agreement. 
  

	4.6	Acceptance of the Products 

  
 BIOTRONIK shall inspect each shipment of Products and give CONOR written notice of any obvious defects or damages to any Product or non-conformity with
the Product Specifications or the Purchase Order within [*] days following the day of receipt of the Products. Any claims relating to defects or damages or non-conformity that are not submitted to CONOR in writing within such period shall be
deemed to be waived and released, subject to Article 13. If CONOR disagrees with BIOTRONIK’s claim that Product delivered to BIOTRONIK is non-conforming, the Parties shall first use good faith efforts to settle such dispute within [*]
days following CONOR’s receipt of notice of non-conformity under this Section 4.6. If they are unable to do so within such time period, the dispute will be resolved by a mutually acceptable independent thirty party laboratory, which will
analyze the allegedly non-conforming Product and determine whether such Product conforms with the Product Specifications and the Purchase Order. The Parties agree that such laboratory’s determination regarding conformance with the Product
Specification and the Purchase Order will be final and binding. The Party against whom the third party laboratory finds shall bear all costs of this analysis. 
  

The Parties understand and agree that Products shipped to BIOTRONIK with an use-before-period (Shelf Life Period) of less than [*] will not be
accepted, except that for the period of [*] after the regulatory approval of the Products [*], the Shelf Life Period will be no less than [*]. 
  

	5	Prices, Price Adjustments, Volume Discount, Payment Terms 

  

	5.1	Prices 

  
 Pricing will be in Euros. BIOTRONIK shall pay CONOR the price for the Product as provided in Exhibit C hereto. All applicable taxes, import duties, insurance costs, transport insurance, freights and excise charges
shall be paid by BIOTRONIK. Any special packing or handling requested by BIOTRONIK shall be at the sole expense of BIOTRONIK. 
  

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 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

	5.2	Price Adjustments 

  
 Prices shall adjust in accordance with the provisions of Exhibit C.  
  

	5.3	Payment Terms 

  
 CONOR shall issue an invoice for each shipment and BIOTRONIK shall make payment of each relevant invoice in full within [*] days after shipment of
the Products to BIOTRONIK in accordance with Exhibit C. Unless otherwise provided for in this Agreement, any other amounts due under this Agreement shall be paid in full within [*] days after receipt by the owing Party of an invoice setting
forth such amounts. All payments will be made in Euro currency by wire transfer to the bank account designated from time to time by the Party receiving such payments. 
  

	5.4	Late Payment Interest 

  
 Any sums that are not paid by BIOTRONIK or by CONOR when due shall bear interest at an rate of the lesser of (a) [*] per annum above the
then-current EURIBOR (European Interbank Offering Rate) and (b) the maximum interest rate permitted under applicable law. 
  

	6	Product Changes 

  

	6.1	Change of Products 

  
 BIOTRONIK may propose changes to released Product Specification. Such changes will be reviewed by CONOR and CONOR will analyze the related effect on the
costs of the Product. CONOR may accept or reject such proposed changes at its sole discretion. CONOR will notify BIOTRONIK of its decision regarding the proposed changes and, if it elects to accept BIOTRONIK’s proposed changes, it will advise
BIOTRONIK of any additional costs. If additional costs are involved, CONOR must receive written notification from BIOTRONIK of acceptance of the additional costs, before starting the implementation of the proposed change. 
  

	6.2	Notification of Change 

  
 CONOR shall have the right to make changes to the Product from time to time during the term of this Agreement, at CONOR’s sole discretion. CONOR
shall inform BIOTRONIK at least [*] ahead of: 
  

	 	•	any design change that changes form, fit or function of the Product, 

  

	 	•	any clinical indication, contraindication or intended use of the Product, 

  

	 	•	any change which requires a change in the Product Specification, 

  

	 	•	any change of the actual production site or 

  

	 	•	any change of the Product which is visible by the user of the Product (including labeling and packaging). 

  

	6.3	Required Changes caused by Remedial, Preventive or Corrective Measure 

  
 CONOR will bear all directly related costs (for example but not limited to: materials, labor and transportation) associated with implementing remedial,
preventive or corrective modifications in Products already delivered to BIOTRONIK, to the extent that such Product was not manufactured in compliance with applicable law or the terms of this Agreement as a result of CONOR’s design, labeling or
manufacturing, or is required by regulatory authorities. 
  

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 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

	6.4	New Products 

  
 To the extent that CONOR develops new [*] that are not covered by the scope this agreement and included in Exhibit A (“New Products”) and
provided that BIOTRONIK is at the time neither in breach of this Agreement nor in arrears with respect to any payment to CONOR the Parties agree to [*] to [*] the distribution of those New Products [*], taking into account, and
with reasonable accommodations for, any special costs associated with the manufacture of the New Products, any other economic or technical factors that differentiate the New Products from the Products, and BIOTRONIK’s history of performance
under this Agreement. 
  

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 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
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SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

	7	Assurance of Supply 

  
 If CONOR decides to discontinue the manufacturing of the Product, CONOR shall notify BIOTRONIK at least [*] in advance. 
  
 BIOTRONIK has the right to place orders for delivery over the remaining
[*] following the notice from CONOR to discontinue manufacturing, and the quantity ordered for delivery each month shall not deviate by more than [*] of the average monthly quantities ordered during the prior [*] period. 

  
 Where possible, the Parties shall agree on a replacement of
such discontinued Product and the time schedule of the transition from the discontinued Product to a suitable replacement product. If no such replacement product is agreed, BIOTRONIK shall have the right to terminate the Agreement upon [*]
days written notice to CONOR, as provided in Section 16.3(iii). 
  

	8	Regulatory Affairs 

  

	8.1	Regulatory Approval (Europe and USA) 

  
 As soon as reasonably practicable, but in any event no later than [*], CONOR expects to obtain, and will thereafter maintain in its own name and on
its own expense during the term of this Agreement, the required European regulatory approval for the Products in the European Union (CE-Mark) for its bare cobalt chromium stent. 
  
 As soon as reasonably practicable, but in any event no later than [*], CONOR expects to obtain, and will thereafter
maintain in its own name and on its own expense during the term of this Agreement, the required European regulatory approval for the Products in the European Union (CE-Mark) for its cobalt chromium paclitaxel drug eluting Stent. 
  
 CONOR will provide to BIOTRONIK a copy of the CE-certificate related to the
Products upon availability and with any change or renewal of the same. CONOR will report to BIOTRONIK without delay any withdrawal or expiration without renewal of any CE-certificate related to the Products. 
  

	8.2	No European Regulatory Approval 

  
 European regulatory approval of the Products is of the essence of this Agreement. CONOR shall inform BIOTRONIK without delay about any potential or actual
delay of achievement of European regulatory approval of the Products. Furthermore BIOTRONIK shall have the right to terminate this Agreement, without any liability to CONOR, upon 30 (thirty) days prior written notice in the event that CONOR fails to
obtain European regulatory approval in accordance with the deadlines set forth in Section 8.1. BIOTRONIK’s right to terminate this Agreement in such event shall be BIOTRONIK’s sole remedy for any failure by CONOR to obtain European
regulatory approval of Products within the time frame set forth in Section 8.1.  
  

	8.3	Additional Approvals 

  
 CONOR will use best efforts to obtain regulatory approval for sale of the Products in the countries of the Territory outside the European Union if so
requested by BIOTRONIK (the “Additional Approvals”). 
  
 BIOTRONIK shall bear [*] and CONOR shall [*] of the documented costs directly related to and necessary for the Additional Approval. Payments owed by one Party by the other Party shall be paid after unconditional regulatory
approval has been achieved in a country; any amount owed from CONOR to BIOTRONIK for Additional Approvals under this section may be paid by deducting the amount from BIOTRONIK’s payments to CONOR for Product sales in such country. If legally
required, CONOR will disclose to the regulatory authorities that BIOTRONIK is the distributor of the Products. 
  

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CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

	8.4	Regulatory Support 

  
 BIOTRONIK and/or the respective sub-distributors of BIOTRONIK shall provide CONOR with all reasonably required support to comply with any local regulatory
law and requirement including but not limited to assisting and executing all documents necessary to satisfy all regulatory requirements in the jurisdictions in which the Products is distributed, whenever is mandatory or necessary to register the
Products in such country. 
  

	8.5	Sale or Import without Regulatory Approval 

  
 CONOR shall not be responsible for any sale or import of the Products into any countries or regions in which Product has not received relevant national or
supranational regulatory approvals that are legally required by applicable law of such country or region. BIOTRONIK hereby agrees to indemnify, defend and hold CONOR harmless from any damage, costs or liabilities (including without limitation, any
reasonable costs or legal fees thereby incurred by CONOR) arising out of any claims, demands, suits, or actions, to the extent arising or resulting from any sale or import into a certain country or region by BIOTRONIK without the necessary
regulatory approval. 
  

	9	Quality Management 

  

	9.1	Quality Management System 

  
 CONOR has established and maintains a Quality Management System in accordance with ISO 13485 and other relevant quality management standards and legal
provisions, such as the Council Directive 93/42/EEC of 14 June 1993 concerning medical devices. CONOR represents and warrants that the actual production of the Product takes place under the certified Quality Management System. 
  
 CONOR provides a copy of the certificates concerning the approved quality
management system upon signature of the Agreement or first availability of the certificates and with any renewal. CONOR will report without delay any withdrawal or expiration without renewal of the legally required Quality Management System
certificate. 
  

	9.2	Compliance Inspection 

  
 CONOR shall inspect and test Products for compliance with the Product Specifications prior to shipment to BIOTRONIK. 
  

	9.3	Traceability 

  
 In accordance with the relevant quality standards and internal CONOR procedures, traceability of critical or major components, processes, manufacturing
and release inspection results will be maintained by CONOR to the individual Product identified by serial or lot number. The collected records will be archived by CONOR for a period of at least [*] after the expiration date of the respective
Product, but at least for the longest period required by national or supranational legal provisions, international standards or any applicable Quality Management System of CONOR. 
  

	10	Reporting, Product Analysis, Vigilance, Remedial Action 

  

	10.1	Complaints 

  
 BIOTRONIK will transmit to CONOR all oral or written complaints referring to the Product at the time the complaints are entered into BIOTRONIK’s system. 
  

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CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

	10.2	Safety Notification 

  
 In case a Product is potentially deviating from the Product Specification, or under any other circumstance where such Product might cause, or already has
caused, harm to a patient, user or other person, each Party shall notify the other Party in writing (“Safety Notification”), irrespective of the time or location of detection of the potentially faulty Product, as soon as the respective
Party gains knowledge of such. 
  
 It is CONOR’s sole
responsibility to file Medical Device Reports or Vigilance Reports to any legal authority for the Products in order to comply with the applicable laws and regulations in the Territory. Should BIOTRONIK by any applicable law or regulation be obliged
to report medical device incidents, this Agreement shall not prevent BIOTRONIK to do so. 
  
 Safety Notifications and any other complaints on the Products are to be effected to the following address: 
  

			
	 BIOTRONIK AG
	  	 CONOR MEDSYSTEMS IRELAND, LTD.

	 Medical Device Safety Officer
	  	 Medical Safety Officer

	 Ackerstr. 6
	  	 30 Herbert Street, Dublin 2, Ireland

	 CH-8180 Bülach, Switzerland
	  	 Tel: [*]

	 Tel.: [*]
	  	 Fax: [*]

	 Fax: [*]
	  	 

  

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CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

	10.3	Product Analysis 

  
 CONOR is obliged to analyze free of charge any Product returned from the field or found otherwise which 
  

	 	•	is potentially non-conforming with the Product Specifications, 

  

	 	•	is malfunctioning or defective, or 

  

	 	•	might cause or already has caused harm to a patient, a user or an other person 

  

and to report to BIOTRONIK 
  

	 	•	findings, 

  

	 	•	failures, as well as 

  

	 	•	actual or probable root causes 

  
 immediately when it becomes known to CONOR. 
  

	10.4	No statement 

  
 In the event of a (alleged) malfunction or defect of a Product, BIOTRONIK or its representatives or agents will not make any statement as to the cause,
before having informed by CONOR and having received CONOR’s written analysis of the malfunction or defect, and will then not render statements different from or in addition to the results of such analysis. 
  

	10.5	Sales records 

  
 BIOTRONIK will maintain complete and accurate lists and records reflecting all Product sales and related transactions as may be required by law and to
comply with the EU regulations, regulations of the EC-Council Directive concerning medical devices or other legal requirements applicable for a country of the Territory to secure traceability of each Product 
  

	10.6	Product Recall 

  
 If either Party believes that a recall of any Products in the Territory is desirable or required by law in the Territory or elsewhere, it shall
immediately notify the other Party. The Parties shall then discuss reasonably and in good faith whether such recall is appropriate or required and the manner in which any mutually agreed recall should be handled. 
  

	10.7	Remedial Actions 

  
 It is CONOR’s exclusive right and obligation to issue recalls, safety alerts, advisory notices or similar remedial actions on the Products. In such
case BIOTRONIK will support and fully co-operate with CONOR to comply with the applicable laws and regulations. Furthermore, in such case BIOTRONIK will notify its customers and, upon CONOR’s request retrieve identified Products. CONOR shall
bear all direct costs and expenses of any recall, including, without limitation, expenses or obligations to third parties, the costs of notifying customers and costs associated with the shipment of recalled Product from customer to BIOTRONIK or
CONOR, and replacement of such Products, except to the extent attributable to BIOTRONIK’s failure to handle, ship, or store Products properly, BIOTRONIK’s breach of this Agreement, or its negligence or willful misconduct. 
  

	10.8	Survival 

  
 The provisions of this Article 10 (Reporting, Product Analysis, Vigilance, Remedial Action) shall survive the termination of the Agreement. 
  

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CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

	11	Intellectual Properties 

  

	11.1	CONOR Intellectual Property 

  
 BIOTRONIK may use CONOR’s, trade names, trademarks, and service marks that are designated by CONOR from time to time for each Product (the
“CONOR Intellectual Property”) on a non-exclusive basis in the Territory, only for the duration of this Agreement and solely in connection with selling, marketing and distributing the Products in accordance with this Agreement. BIOTRONIK
shall, upon CONOR’s request, cooperate with CONOR in any action necessary or desirable to register with the appropriate governmental agencies any CONOR trademark used or proposed to be used hereunder, and to protect any CONOR trademark proposed
to be used. BIOTRONIK shall not at any time do or permit any act to be done which may in any way impair the rights of CONOR in the CONOR Intellectual Property or the value of the CONOR Intellectual Property. Any inventions made, developed,
conceived, or reduced to practice [*] that [*], and any [*] relating thereto, shall be [*]. [*] hereby [*] to [*] in and to such inventions and [*] and agrees to take all further acts
reasonably required to evidence such [*], all at [*] expense. [*] hereby grants to [*] a [*] to [*] made [*] for uses [*]. 
  

	11.2	Notice of Intellectual Property Infringement 

  
 BIOTRONIK shall promptly notify CONOR in writing of any patent or copyright infringement or unauthorized use of CONOR trade secrets or trademarks in the
Territory of which BIOTRONIK has become aware. CONOR shall have the exclusive right in its sole discretion to institute any proceedings against such third party in its name and on its behalf. BIOTRONIK shall cooperate fully with CONOR in any legal
action taken by CONOR against such third parties, provided that CONOR shall pay all expenses of such action and all damage relating to damage suffered personally by CONOR which may be awarded or agreed upon in settlement of such action shall accrue
to CONOR. 
  

	11.3	Claim against CONOR 

  
 CONOR shall give BIOTRONIK written notice of any claim brought against CONOR by a third party alleging that the manufacture, use or sale of Product
infringes the proprietary rights of such third party within [*] days of first knowledge thereof and will keep BIOTRONIK informed about all aspects of any litigation, settlement or government procedure that CONOR anticipates will impact its
ability to supply Product under this Agreement. 
  

	11.4	Claim against BIOTRONIK 

  
 BIOTRONIK shall give CONOR written notice of any Claim brought against BIOTRONIK within [*] days of first knowledge thereof. CONOR agrees, at its
own expense, to defend or at its option to settle, any Claim, suit, or proceeding brought against BIOTRONIK or its customer, subject to the limitations hereinafter set forth. CONOR shall have sole control of any such action or settlement
negotiations and agrees to pay, subject to the limitations hereinafter set forth, any judgment entered against BIOTRONIK or its customers on such issues in any suit or proceeding defended by CONOR. BIOTRONIK agrees, at CONOR’s expense, to
co-operate with CONOR and satisfy any reasonably request for information and assistance relating to any efforts to settle and/or defend any such Claim, suit or proceeding. BIOTRONIK may not settle or compromise any Claim without the written consent
of CONOR. 
  

	11.5	Consequences of Intellectual Property Infringement 

  
 If a Product is adjudicated to infringe any third party’s intellectual property right in a legal action, at CONOR’s sole discretion and expense,
CONOR may 
  

	 	•	obtain a license from such third party for the benefit of BIOTRONIK; or 

  

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CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

	 	•	replace or modify the Products so that it is no longer infringing any third party intellectual rights, provided that this is acceptable to BIOTRONIK. 

  
 If neither of the foregoing is commercially feasible, either Party may
terminate this Agreement without further liability to the other Party in accordance with Section 16.3(ii). 
  

	12	Force Majeure 

  
 In no event shall either Party be liable to the other Party for any delay or failure to perform under this Agreement which is due to causes beyond the
responsible control of the Party claiming excusable delay, including without limitation fire, explosion, flood, strike, war, civil disturbance or civil or military authority, acts of terrorism, acts of God or public enemy. However, the above shall
not excuse failure to make payment when due. Performance times under this Agreement shall be considered extended for a period of time equivalent to the time lost because of any excusable delay. 
  

 Page 15 of 29 
  

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

	13	Limited Warranty 

  

	13.1	CONOR Warranties 

  
 CONOR warrants that Product supplied by CONOR hereunder (i) shall meet the Product Specifications agreed to in writing by the parties and(ii) shall not be
adulterated or misbranded within the meaning of the U.S. Food, Drug and Cosmetic Act (the “Act”) or other applicable laws that are equivalent thereto in the Territory, and in which the definitions of adulteration and misbranding are
substantially the same as those contained in the Act; provided, however, that CONOR shall not be liable for any of the foregoing with respect to any product labeling or package inserts to be provided or used by Distributor or for any noncompliance
with the foregoing due to the handling or packaging of Product by Distributor in a manner inconsistent with CONOR’s instructions. CONOR’s warranty shall not apply to or cover Product that has not been stored under the required conditions
after leaving CONOR, or to any Product that has in any way been affected by handling or distribution by anyone other than CONOR, or any adulteration occurring after the Product leaves CONOR unless this has been directed by CONOR. 
  
 CONOR’S WARRANTIES SET FORTH IN THIS SECTION 13 ARE ITS EXCLUSIVE
WARRANTIES TO BIOTRONIK WITH RESPECT TO PRODUCT AND ARE GIVEN AND ACCEPTED IN LIEU OF ANY AND ALL OTHER WARRANTIES EXPRESS OR IMPLIED CONCERNING PRODUCT, OR ANY PATENT OR PROPRIETARY RIGHTS RELATING THERETO, AND INCLUDING WITHOUT LIMITATION ANY
IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. 
  

	14	Liability and Indemnification, Insurance, Vendors Endorsement 

  

	14.1	Indemnification by BIOTRONIK 

  
 BIOTRONIK hereby agrees to indemnify, defend and hold CONOR harmless from any damage, costs or liabilities (including, without limitation, any reasonable
costs or legal fees thereby incurred by CONOR) (“Liabilities”) arising out of any claims, demands, suits, or actions, to the extent that such Liabilities arise from or result out of the marketing, distribution or sale of the Products by
BIOTRONIK, including, without limitation: 
  

	 	•	any act or omission by BIOTRONIK; 

  

	 	•	any unfair business practice of BIOTRONIK; 

  

	 	•	any violation by BIOTRONIK of any law, regulation or order of the Territory applicable to BIOTRONIK; or 

  

	 	•	any breach by BIOTRONIK of its representations, warranties or covenants contained in this Agreement. 

  

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CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

	14.2	Indemnification by CONOR 

  
 Except to the extent that BIOTRONIK has an indemnification obligation pursuant to Section 14.1, CONOR shall indemnify and hold harmless BIOTRONIK, its
Affiliates, sales representatives and agents, and each of their officers, directors and employees against any and all Liabilities arising out of any claims, demands, suits, or actions, to the extent arising from or resulting from: 
  

	 	•	personal injury or death resulting from the use of a Product; 

  

	 	•	defects alleged by third parties in the design or manufacture of a Product; 

  

	 	•	infringement alleged by third parties of patents, copyrights, trademarks, or other intellectual property rights by a Product (except to the extent arising from BIOTRONIK’s use
of materials not approved by CONOR) 

  

	 	•	Product recalls; and 

  

	 	•	any breach by CONOR of its representations, warranties or covenants contained in this Agreement. 

  

	14.3	Insurance 

  
 Each Party shall obtain and keep in force, during the term of this Agreement, and for 4 (four) years thereafter, a product liability insurance policy in an amount not less than [*] per claim, and [*] in
the aggregate, which policy shall insure against any and all claims, liabilities, costs, or expenses resulting from or caused by (or claimed to be resulting from or caused by) the use or operation of the Products. 
  
 The insurance carrier(s) shall be a reputable international company
reasonably acceptable by the other Party and will have an AM Best rating of no less than [*]. A copy of the confirmation of coverage and the related insurance certificate shall be given to the other Party at the Effective Date and then as
soon as practicable at the beginning of each new policy term. During the term of this Agreement as for so long as necessary to cover any claims that may be made thereafter regarding the Products, BIOTONIK shall be named as an additional insured
party on CONOR’s policy, and CONOR shall be named as an additional insured party on BIOTRONIK’s policy. 
  
 Each Party shall provide the other Party with 30 (thirty) days prior written notice of any cancellation, non-renewal or material change in the terms of
such policy. 
  

	14.4	Indemnification Procedure 

  
 A Party seeking indemnification (the “INDEMNIFIED PARTY”) shall give the other Party (the “INDEMNIFYING PARTY”) written notice of any
claim within [*] days of first knowledge thereof. 
  
 The
INDEMNIFYING PARTY has the right to defend, or at its option to settle, and INDEMNIFYING PARTY agrees, at its own expense, to defend or at its option to settle, any indemnified claim, suit, or proceeding brought against INDEMNIFIED PARTY or its
customer, subject to the limitations hereinafter set forth. The INDEMNIFYING PARTY shall have sole control of any such action or settlement negotiations and agrees to pay, subject to the limitations hereinafter set forth, any judgment entered
against INDEMNIFIED PARTY or its customers on such issues in any suit or proceeding defended by INDEMNIFYING PARTY. 
  
 The INDEMNIFIED PARTY agrees, at INDEMNIFYING PARTY’s expense, to co-operate with INDEMNIFYING PARTY and satisfy any reasonably request for
information and assistance relating to any efforts to settle and/or defend any such claim, suit or proceeding. The INDEMNIFIED PARTY may not settle or compromise any claim without the written consent of the INDEMNIFYING PARTY. 
  

	14.5	Other Damage 

  
 NEITHER PARTY SHALL BE LIABLE TO THE OTHER FOR ANY INDIRECT, SPECIAL, CONSEQUENTIAL, INCIDENTAL OR PUNITIVE DAMAGE WITH RESPECT TO ANY CLAIM ARISING OUT
OF THIS AGREEMENT (INCLUDING WITHOUT LIMITATION ITS 
  

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MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 PERFORMANCE OR BREACH OF THIS AGREEMENT) FOR ANY REASON. NOTHING HEREIN SHALL BE CONSTRUED AS LIMITING
EITHER PARTY’S INDEMNIFICATION OBLIGATIONS UNDER THIS ARTICLE 14, OR EITHER PARTY’S LIABILITY FOR BREACH OF ARTICLE 15. 
  

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CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

	15	Confidentiality 

  

	15.1	The obligations of confidentiality and non-use (and exceptions thereto) set forth in that certain Confidentiality Agreement signed between the Parties on [*] shall be
applicable to all information exchanged between the Parties under this Agreement. 

  

	16	Term / Termination 

  

	16.1	Term 

  
 This Agreement shall take effect on the Effective Date and shall end on December 31, 2007, and the term will automatically be extended by one (1) year unless one Party gives notice to the other Party prior to July 1,
2007 of its desire not to have this Agreement extended; provided however that this Agreement may be terminated earlier pursuant to Section 16.2 or 16.3. 
  

	16.2	Change of Control 

  
 In the event of a Change of Control of a Party, either Party may terminate this Agreement by serving 12 (twelve) months prior written notice to the other
Party. In addition, in the event of a Change of Control of BIOTRONIK that has, or in the reasonable opinion of the CONOR could have, a material adverse effect on the distribution of Products under this Agreement and the failure of BIOTRONIK to
promptly pursue (within 30 days after receiving written notice thereof from CONOR) a remedy designed to cure (in the sole judgment of CONOR) CONOR’s objections to such material adverse effect, CONOR may terminate this Agreement by giving
written notice of termination to BIOTRONIK, such termination being immediately effective upon the giving of such notice of termination. Such a change of control of BIOTRONIK is not considered a breach by BIOTRONIK. For the purpose of this Section
16.2, “Change of Control” of a Party shall mean  
  

	 	(i)	any consolidation or merger of such Party with or into any other corporation or other entity or person, or any other corporate reorganization, in which the capital stock of Party
immediately prior to such consolidation, merger or reorganization, represents less than fifty percent (50%) of the voting power of the surviving entity (or, if the surviving entity is a wholly owned subsidiary, its parent) immediately after such
consolidation, merger or reorganization; or 

  

	 	(ii)	any transaction or series of related transactions to which such Party is a party in which more than fifty percent (50%) of such Party’s voting power is transferred to a third
party; or 

  

	 	(iii)	the consummation of a sale of all or substantially all of the assets of such Party in any transaction or series of related transactions, other than a sale of all or substantially
all of the assets of such Party to an entity, more than fifty percent (50%) of the combined voting power of the voting securities of which are owned by shareholders of such Party in substantially the same proportions as their ownership of Party
immediately prior to such sale. 

  
 Notwithstanding
the foregoing, a Change of Control shall not be deemed to occur 
  

	 	(i)	on account of the acquisition of securities of a Party by any institutional investor, or affiliate thereof, that acquires the Party’s securities in a transaction or series of
related transactions that are primarily a private financing transaction for the Party or 

  

	 	(ii)	a sale of assets, merger or other transaction effected exclusively for the purpose of changing domicile of the Party; or 

  

	 	(iii)	a sale of assets, merger, or any other transaction effected exclusively to reorganize the shares or assets of BIOTRONIK within the group consisting of all legal entities in which
Dr. Max Schaldach or his heirs hold shares and have a controlling interest. 

  

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CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

	16.3	Extraordinary Termination 

  
 This Agreement may be terminated as follows: 
  

	 	(i)	Either Party may terminate this Agreement immediately upon written notice to the other Party if the other Party is in material breach of this Agreement, including material breach of
any covenant, representation or warranty, and has failed to cure such breach within 30 (thirty) days of receipt of written notice thereof from the first Party. 

  

	 	(ii)	Either Party may terminate this Agreement immediately upon written notice to the other Party if: 

  

	 	•	The other Party shall be or become bankrupt or insolvent or if there are instituted by or against it proceedings in bankruptcy or under insolvency laws or for its reorganization,
receivership, liquidation or dissolution 

  

	 	•	Such other Party or such other Party’s employees or officers engage in unethical business conduct or are convicted of a crime that, in the reasonable discretion of the such
Party, is likely to cause or has caused harm or disrepute to the reputation of the such Party, or harm to the public; 

  

	 	•	Any law or government-enacted regulation or decree renders the performance by such Party of its respective obligations hereunder unduly onerous or otherwise inexpedient.

  

	 	•	A Product is adjudicated to infringe the intellectual property of a third party and it is not commercially or technically feasible for CONOR or BIOTRONIK to obtain a license from
the third party or to replace or modify the Product so that it is no longer infringing any third parties intellectual property rights or such replacement or modification of the Product is not acceptable for BIOTRONIK. 

  

	 	(iii)	BIOTRONIK shall have the right to terminate the Agreement upon 30 (thirty) days written notice to CONOR if CONOR discontinues the manufacturing of the Product and both Parties are
unable to agree on a replacement product under Article 7. 

  

	 	(iv)	CONOR shall have the right to terminate the Agreement upon 30 (thirty) days written notice to BIOTONIK if: 

  

	16.4	BIOTRONIK fails to use best efforts or order minimum quantities in accordance with Section 3.5 and Exhibit D. 

  

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MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 Rights and Obligations on Termination 
  
 In the event of expiration or termination of this Agreement for any reason, the Parties shall have the following rights and
obligations: 
  

	 	(i)	Neither Party shall be released from the obligation to make payment of all amounts then or thereafter due and payable under this Agreement; 

  

	 	(ii)	Sections 8.5, 11.1, 16.4, 16.5, 17.5, 17.7, and 17.12 and Articles 10, 14, and 15 shall survive the termination of this Agreement; 

  

	 	(iii)	Except as provided in Section 16.5 (Sell-off Period), BIOTRONIK shall cease to distribute the Products and shall return to CONOR all copies of promotional and technical materials
and artwork provided by CONOR; 

  

	 	(iv)	CONOR may repurchase at its option, in full but not in part, BIOTRONIK’s inventory of Products that are unexpired, in saleable condition, unmodified from their original form
and design, and in their original packaging. Any such repurchase shall be at price paid by BIOTRONIK for such Products including shipment and duty expenses if applicable [*]. Repurchased inventory shall be shipped by BIOTRONIK freight
prepaid, according to CONOR’s instructions. CONOR shall pay BIOTRONIK for such repurchased Products within [*] days after CONOR receives those Products in one of its facilities. It is acknowledged and agreed that CONOR may also direct
BIOTRONIK to sell such Product to a third party or parties selected by CONOR under the above conditions. 

  

	 	(v)	CONOR shall not have any obligation to BIOTRONIK, or to any employee of BIOTRONIK, for compensation or for damages of any kind, whether on account of loss by BIOTRONIK or such
employee of present or prospective sales, investments, compensation, or goodwill. BIOTRONIK, for itself and on behalf of each of its employees, hereby waives any rights that may be granted to it or them, under the laws and regulations of the
TERRITORY or otherwise, that are not granted to it or them by this Agreement. BIOTRONIK hereby indemnifies and holds CONOR harmless from and against any and all claims, costs, damages, and liabilities whatsoever asserted by any employee,
agent, or representative of BIOTRONIK under any applicable termination, labor, social security, or other similar laws or regulations. 

  

	16.5	Sell-off Period 

  
 Upon termination or expiration of this Agreement, other than BIOTRONIK’s breach, subject to CONOR’s right to repurchase BIOTRONIK’s
inventory of Products pursuant to Section 16.4(iv), BIOTRONIK shall have the right to continue to distribute its existing inventory of non-expired Products on a nonexclusive basis for a [*] period after the expiration or termination so long
as this inventory exists, either in its possession or in consignment at its client’s premises; provided, however, that BIOTRONIK shall during this period comply with all terms and conditions of this Agreement in effect immediately prior to
termination or expiration.  
  

	17	General 

  

	17.1	Representations and Warranties of BIOTRONIK 

  
 BIOTRONIK represents and warrants to CONOR that, as of the Effective Date: 
  

	 	(i)	it is validly existing and in good standing as a corporation under the laws of Switzerland, and has all necessary corporate power to perform its obligations under this Agreement and
its financial resources are sufficient to enable it to perform all of its obligations under this Agreement; 

  

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SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

	 	(ii)	it is qualified and permitted to enter into this Agreement and that the terms of this Agreement do not conflict with and are not inconsistent with any other of its contractual
obligations. 

  

	 	(iii)	it has sufficient personnel and capacity to perform its obligations under this Agreement; and 

  

	 	(iv)	it owns or controls sufficient rights for it to perform its obligations under this Agreement. 

  

	17.2	BIOTRONIK Covenant 

  
 BIOTRONIK covenants that in carrying out its obligations under this Agreement it shall use only materials approved by CONOR and shall at all times handle,
ship, store, and use the Product safely and in accordance with CONOR’s instructions and applicable law. 
  

	17.3	Entire Agreement 

  
 This Agreement, including the Exhibits hereto which are incorporated herein, constitutes the entire agreement of the Parties with respect to the subject
matter hereof and supersedes all proposals, oral or written, and all negotiations, conversations, discussions or previous distribution agreements or arrangements heretofore between the Parties. Both Parties hereby acknowledge that they have not been
induced to enter into this Agreement by any representation or statement, oral or written, not expressly contained herein. 
  

	17.4	Counterparts 

  
 This Agreement may be executed in two counterparts in the English language, and each such counterpart shall be deemed an original hereof. In case of any
conflict between the English version and any translated version of this Agreement, the English version shall govern. 
  

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MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

	17.5	Notices 

  
 Notices permitted or required to be given hereunder shall be given: 
  

	 	•	by BIOTRONIK to CONOR’s principal place of business at the address set forth on page 1 or such other address of which CONOR may notify BIOTRONIK from time to time in writing;

  

	 	•	by CONOR to BIOTRONIK’s principal place of business at the address set forth on page 1 or such other address of which BIOTRONIK may notify CONOR from time to time in writing.

  
 Notices shall be deemed sufficient if given in
writing and in English by 
  

	 	•	Registered or certified mail, postage prepaid, return receipt requested, or 

  

	 	•	Private courier service 

  

	17.6	Amendment 

  
 This Agreement may not be modified, amended, rescinded, cancelled or waived, in whole or in part, unless by written agreement signed by both Parties. 
  

	17.7	Severability Clause 

  
 If any term or provision of this AGREEMENT is held to be invalid or unenforceable, this shall, in case of doubt, not affect the remaining provisions. The
Parties shall use commercially reasonable efforts to agree on a valid and enforceable provision that is a reasonable substitute for the invalid/unenforceable provisions in light of the intent of the Agreement. 
  

	17.8	Assignment 

  
 Either Party shall not have the right to assign or otherwise transfer its rights and obligations under this Agreement except with the prior written consent of the other Party; provided, however, that CONOR may assign
its rights and obligations under this Agreement, in whole or in part, to (a) any Affiliate of CONOR (it being understood that CONOR shall remain ultimately liable for any of its obligations under this Agreement); (b) any person or entity to whom
CONOR licenses or otherwise transfers the right to manufacture Product (subject to appropriate written notice to BIOTRONIK to facilitate any necessary change in government approvals or licenses); or (c) CONOR’s successor in interest in
connection with a merger, consolidation, acquisition, or sale of all or substantially all of CONOR’s assets. Any prohibited assignment shall be null and void. 
  

	17.9	Waiver 

  
 No failure by either Party to take any action or assert any right hereunder shall be deemed to be a waiver of such right in the event of the continuation or repetition of the circumstances giving rise to such right.

  

	17.10	Standard Terms and Conditions 

  
 The standard Terms and Conditions of both Parties shall not apply to this Agreement and in no case apply to any of the transactions performed under this Agreement.

  

	17.12	Relationship 

  
 This Agreement does not make either Party the employee, agent or legal representative of the other for any purpose whatsoever. Neither Party is granted any right or authority to assume or to create any obligation or
responsibility, express or implied, on behalf of or in the name of the other Party. Each Party is acting as an independent contractor. 
  

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CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

	17.13	Performance by Affiliates 

  
 The Parties recognize that CONOR may perform some or all of its obligations, or exercise some of all of its rights, under this Agreement through one or more of its Affiliates. Any reference to CONOR in this Agreement
shall be deemed to include any such Affiliates of CONOR so engaged by CONOR as it deems appropriate in light of the particular facts and circumstances, it being understood that CONOR remains ultimately liable for performance of its obligations under
this Agreement. 
  

	17.14	Express Conditions Subsequent 

  
 The Parties acknowledge and agree that execution by both Parties and, with respect to the Equity Investment (as defined below), the closing, of a definitive agreement
providing for an equity investment of no less than [*] by BIOTRONIK in Conor Medsystems, Inc. on substantially the terms set forth in the term sheet that is an exhibit to the letter of intent with respect to the equity investment executed by
both Parties as of the date hereof (the “Equity Investment”) by no later than [*] after the Effective Date shall be express conditions subsequent to the effectiveness of this Agreement. In the event that the Equity Investment does
not occur by no later than [*] after the Effective Date, this Agreement shall be voidable by CONOR by written notice to BIOTRONIK within [*] after the Effective Date and shall be of no further force and effect in the event that CONOR
so elects to void this Agreement. The Parties agree to negotiate in good faith and to use commercially reasonable efforts to complete the Equity Investment as promptly as practicable after the Effective Date and, in any event, by no later than
[*] after the Effective Date. CONOR and BIOTRONIK acknowledge and agree that due diligence relating to the Equity Investment has not been completed and that, following the completion of such due diligence, the Parties may mutually agree to
adjust the terms of the Equity Investment to reflect the results of such due diligence. 
  

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CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

	18	Applicable Law 

  

	18.1	Applicable Law 

  
 This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, excluding any conflicts of law
principles that would provide for the application of the law of another jurisdiction. The Parties agree that the United Nations Convention On Contracts for the International Sale of Goods (CISG) does not apply to this Agreement. Any action or suit
under this Agreement shall only be brought in a federal or state court sitting in the State of New York, and the Parties hereby consent and submit to the jurisdiction of such courts. 
  

	18.2	Dispute Resolution 

  
 In the event of any dispute arising out of or relating to this Agreement, the Parties shall refer such dispute to their respective Responsible Executives
for attempted resolution by good faith negotiations within [*] after such referral is made. In the event such officers are unable to resolve such dispute within such [*] period, each party may pursue, in a court of competent
jurisdiction, any remedies available to it at law or in equity with respect to such dispute. For the purpose of this Section 18.2, “Responsible Executive” shall mean the Chief Executive Officer of a Party or such other member of senior
management of Party designated by the Chief Executive Officer who has the power to settle the dispute in question on behalf of such Party. 
  
 IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed by their duly authorized representatives below. 
  

							
	 For
	 	 BIOTRONIK AG
	 	 For
	 	 CONOR Medsystems Ireland, Ltd

				
	 By:
	 	 /s/ Claus Martini

	 	 By:
	 	 /s/ Frank Litvack

	 Name
	 	 Dr. Claus Martini
	 	 Name:
	 	 Frank Litvack

	 Title
	 	 Managing Director
	 	 Title:
	 	 CEO

				
	 By:
	 	 /s/ Christoph Böhmer

	 	 	 	 
	 Name:
	 	 Christoph Böhmer
	 	 	 	 
	 Title:
	 	 Chairman of the Board
	 	 	 	 

  

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OF 1933, AS AMENDED. 

 Exhibit A 
  
 Product Listing / Product Specification (2 pages following): 
  
 [*] 
  

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OF 1933, AS AMENDED. 

 Exhibit B 
  
 Territory: 
  
 Worldwide, except for Japan, United States, India, Pakistan, Australia, New Zealand, Kenya, Sri Lanka, Tanzania, and Korea 
  
 For purposes of Exhibit C, the countries into which BIOTRONIK sells directly are [*]. 
  
 To the extent BIOTRONIK sells directly in other countries in the Territory, BIOTRONIK shall inform CONOR and revised this Exhibit B.

  

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SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 Exhibit C 
  
 Prices 
  
 Pricing for Unistar Bare Cobalt Chrome 
  
 [*] 
  
 Pricing for Costar Paclitaxel Cobalt Chrome

  
 [*] 
  

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OF 1933, AS AMENDED. 

 Exhibit D 
  
 Minimum Quarterly Order Quantities 
  
 [*] 
  

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CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
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SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED.Prepared by R.R. Donnelley Financial -- Collaborative License and Supply Agreement

 Exhibit 10.27 
  
 COLLABORATIVE LICENSE AND SUPPLY AGREEMENT 
  
 THIS COLLABORATIVE LICENSE AND SUPPLY AGREEMENT (“Agreement”) is entered into this 4th day of April, 2003,
and shall be effective as of the date of the last signature below (the “Effective Date”) by and between CONOR MEDSYSTEMS, INC. (“Conor”), a Delaware corporation, with offices at 1360 Willow Road, Second Floor, Menlo Park,
California 94025 and PHYTOGEN INTERNATIONAL LLC (“Phytogen”), a limited liability company existing under the laws of Wyoming, having its principal office at First Floor, Unit 41, The Business Centre, Stadium Business Park,
Ballycoolin, Dublin 11, Ireland. 
  
 R E C I T A L S 
  
 A. Conor is a drug delivery company that is developing implantable medical
devices as delivery platforms for the controlled local delivery of a wide variety of therapeutic agents, and desires to develop and commercialize implantable medical devices that will deliver the compound paclitaxel for the treatment and/or
prevention of restenosis, coronary diseases, and/or vascular diseases. 
  
 B. Phytogen has experience and expertise in the manufacture of paclitaxel and owns or controls intellectual property rights relating to paclitaxel. 
  
 C. Conor desires to have Phytogen manufacture and supply to Conor paclitaxel for incorporation into Conor’s proprietary implantable medical devices
for preclinical, clinical and commercial use by Conor and/or its Affiliates, licensees, distributors, or marketing partners. 
  
 D. Phytogen is willing to manufacture and supply paclitaxel to Conor and to grant to Conor a license under its intellectual property rights to develop and
commercialize Conor’s implantable medical devices incorporating paclitaxel, under the terms and conditions of this Agreement. 
  
 NOW, THEREFORE, in consideration of the mutual covenants and premises herein contained, the parties hereto agree as follows: 
  
 1. DEFINITIONS. 
  
 As used in this Agreement, the following initially capitalized terms, whether used in the singular or plural form, shall
have the meanings set forth in this Section 1. 
  
 1.1
“Affiliate” shall mean any corporation, person or entity that directly or indirectly controls, is controlled by, or is under common control with, a party to this Agreement. For purposes of this Section 1.1, the term “control”
(with a correlative meaning for “controlled by”) means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of the subject corporation, person or entity, whether through the
ownership of voting securities, by contract or otherwise. 
  
 1.2 “Agents” shall have the meaning set forth in Section 13.3. 
  
  
 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES
ACT OF 1933, AS AMENDED. 

 1.3 “Batch” shall mean a specific quantity of Product that is intended to have uniform
character and quality, within the limits specified in the Product Specifications, and is produced during one cycle of manufacture. 
  
 1.4 “Commercial Launch” shall mean the first sale by Conor or its Affiliates or sublicensees of a Conor Device incorporating the Product
to a Third Party for distribution and sale to end users in a particular country after obtaining Regulatory Approval for such Conor Device in such country. 
  
 1.5 “Confidential Disclosure Agreement” shall mean that certain Confidential Disclosure Agreement entered into by Conor and Phytogen
dated [*]. 
  
 1.6 “Confidential
Information” shall mean any confidential or proprietary information of a party including, without limitation, all specifications, know-how, trade secrets, technical information, drawings, software, prototypes, models, business information,
inventions, discoveries, assays, methods, procedures, formulae, protocols, techniques, data, and unpublished patent applications, whether disclosed in oral, written, graphic, or other electronic form. Confidential Information relating to the
Phytogen Core Technology and the Phytogen Proprietary Rights is Phytogen’s Confidential Information. Confidential Information relating to the Conor Core Technology is Conor’s Confidential Information. All “Conor Information” (as
such term is defined in the Confidential Disclosure Agreement) disclosed by Conor to Phytogen pursuant to the Confidential Disclosure Agreement shall be deemed Conor’s Confidential Information under this Agreement. 
  
 1.7 “Conor Core Technology” shall mean any Technology
Controlled by Conor as of the Effective Date that covers, consists of, or relates to (a) the Conor Device, (b) drug delivery through implantable medical devices, including, without limitation, drug-eluting stents, or (c) the formulation of drugs for
delivery by the Conor Device or other implantable medical devices; together with any improvements, enhancements, or extensions of or to any of the foregoing Technology invented, created, conceived, or developed by or for Conor at any time during the
term of this Agreement. 
  
 1.8 “Conor Customers”
shall mean licensees, distributors, or marketing partners of Conor, or other Third Parties who purchase Conor Devices incorporating the Product from Conor or Conor’s Affiliates or from sublicensees of Conor or Conor’s Affiliates, and end
users of such Conor Devices. In any case, in a given sale there will be only one Conor Customer. 
  
 1.9 “Conor Device” shall mean any stent or other implantable medical device designed and/or manufactured and/or licensed by or for Conor
that is capable of delivering Product and is intended for use in the Field of Use. 
  
 1.10 “Controlled” shall mean, with respect to any information or intellectual property right, that the party owns or has a license to such information or intellectual property right and has the
ability to grant to the other party access, a license, or a sublicense to such information or intellectual property right as provided for in the Agreement without violating an agreement with or rights of a Third Party. 
  

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SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 1.11 “Defective Product” shall have the meaning set forth in Section 5.3(a). 

 
 1.12 “Drug Master File” or “DMF” means a
Drug Master File maintained with the FDA under 21 C.F.R. § 314.420, or a filing with a Regulatory Authority outside the United States serving a purpose equivalent to that of a Drug Master File in the United States. 
  
 1.13 “FD&C Act” shall mean the United States Food, Drug
and Cosmetic Act, as amended. 
  
 1.14 “FDA”
shall mean the United States Food and Drug Administration, or any successor thereto, having the administrative authority to regulate the marketing of pharmaceutical Product or biological therapeutic Product, delivery systems, and medical devices in
the United States. 
  
 1.15 “Field of Use” shall
mean the treatment and/or prevention of restenosis, coronary diseases, and/or vascular diseases (the “Vascular Applications”). 
  
 1.16 “GAAP” shall mean generally accepted accounting principles, as used and defined in the United States, in effect from time to time.

  
 1.17 “GMP” shall mean the then-current
standards for the manufacture of pharmaceutical product or biological therapeutic product as set forth in the FD&C Act, as amended, and applicable regulations and guidances promulgated thereunder, including, without limitation, 21 C.F.R. Parts
210, 211, and 312, and the equivalent regulations and requirements in jurisdictions outside the United States. 
  
 1.18 “Manufacturing Facility” shall mean the manufacturing facility of [*] or any other facility used for the manufacture of
Product that has been approved by Conor and complies with applicable facility license requirements. 
  
 1.19 “Net Sales” shall mean the gross amount of all revenues invoiced and recorded in accordance with GAAP by Conor or its Affiliates
from Conor Customers from the sale, supply or other transfer for value of a Conor Device that incorporates Product supplied by Phytogen to Conor hereunder (except as provided in the last sentence hereof), less the following deductions or allowances
(i) charges taken or accrued in accordance with GAAP for commissions allowed to distributors, discounts allowed dealers, trade and/or quantity discounts from the list price, refunds, rebates, chargebacks, replacements or credits allowed to
purchasers for return of Conor Devices incorporating Product; (ii) sales, use and/or other excise taxes, import and/or export duties paid, tariffs, and any other governmental tax or charge (except income taxes) imposed on or at the time of
production, importation, use, or sale of Conor Devices incorporating Product, including any VAT taxes, provided such amounts are included in the gross amount of revenues recorded above; (iii) shipping insurance costs and prepaid transportation
and/or freight charges, provided such amounts are included in the gross amount of revenues recorded above; and (iv) the amount of any expense deducted by Conor in accordance with GAAP (including, but not limited to, royalties or other license fees)
for the benefit of one or more Third Parties to obtain a license or similar right necessary for Conor or its Affiliates or sublicensees to legally make, have made, 
  

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OF 1933, AS AMENDED. 

 use, import, sell, or offer for sale the Conor Device incorporating Product. Net Sales shall exclude any amounts Conor or
its Affiliates receive from Third Party distributors, marketing partners, or licensees or any other party for the supply of Conor Devices incorporating Product that are used for clinical trials required for Regulatory Approval or additional product
indications in any country where Conor incurs expenses for such clinical trials, such as payments to clinicians, hospitals and laboratories, but such exclusion shall only be permitted up to the amount of such expenses paid and incurred by Conor.

  
 1.20 “Non-Vascular Application” shall have
the meaning set forth in Section 1.16. 
  
 1.21 “Phytogen
Core Technology” shall mean any Technology Controlled by Phytogen as of the Effective Date that covers, consists of, or relates to the composition of matter, methods of making, or methods of using the Product (but excluding any such
Technology that relates to the preparation and delivery of the Product through implantable medical devices, the formulation of therapeutic agents for delivery through implantable medical devices, or implantable medical devices for the delivery of
the Product), together with any improvements, enhancements, or extensions of or to any of the foregoing Technology invented, created, conceived, or developed at any time during the term of this Agreement. 
  
 1.22 “Phytogen Proprietary Rights” shall mean all
intellectual property rights including, without limitation, patents, patent applications, copyrights, know-how, and trade secrets, that (a) are Controlled by Phytogen at any time during the term of this Agreement, and (b) relate to, claim or cover
the Product, including without limitation the composition of matter of the Product and the method of making or using the Product. 
  
 1.23 “Product” shall mean the bulk form of the compound paclitaxel and/or any compound that is a modification or derivative of the
compound paclitaxel that Phytogen manufactures at any time during the term of this Agreement. 
  
 1.24 “Product Specifications” shall mean the specifications for the Product attached hereto as Exhibit A, as they may be amended from time to time under Section 3.9. 
  
 1.25 “Quality Control Procedures” shall have the meaning set
forth in Section 5.1. 
  
 1.26 “Regulatory
Approval” shall mean, with respect to a country in the Territory, all approvals, licenses, registrations, or authorizations by an applicable Regulatory Authority (as hereinafter defined) necessary to import, commercialize and market the
Product and/or the Conor Device incorporating the Product in such country. 
  
 1.27 “Regulatory Authority” means the FDA in the United States, and the equivalent regulatory authority or governmental entity having the responsibility, jurisdiction, and authority to approve the
manufacture, use, importation, packaging, labeling, marketing, and sale of pharmaceutical product, biological product, delivery systems, and medical devices in any country or jurisdiction outside of the United States. 
  
 1.28 “Regulatory Committee” shall have the meaning set forth
in Section 4.5. 
  

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MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 1.29 “Technology” shall mean technical information, ideas, discoveries, knowledge,
know-how, skill, experience, concepts, data, processes, procedures, methods, techniques, protocols, formulae, trade secrets, inventions (whether or not patentable), media, research tools, compositions, software, hardware, instruments, documents,
works of authorship, formulations, and other physical, chemical or biological materials and information, including, without limitation, clinical and regulatory strategies, test data (including pharmacological, toxicological and clinical test data),
analytical and quality control data, manufacturing, patent, marketing and legal data or descriptions, apparatus, prototypes, devices, chemical formulations, compound compositions of matter, product samples, assays and similar information and
inventions. 
  
 1.30 “Territory” means the entire
world. 
  
 1.31 “Third Party” shall mean any
entity or person other than (a) Conor and its Affiliates, or (b) Phytogen or its Affiliates. 
  
 2. LICENSE GRANT; RIGHT OF FIRST REFUSAL 
  
 2.1 License to Conor. Subject to the payments by Conor under Section 7.1, Phytogen hereby grants to Conor a license, with rights to sublicense, the Phytogen Proprietary Rights to make, have made, use, import,
offer for sale, and sell Conor Devices incorporating Product in the Territory pursuant to the terms of this Agreement. 
  
 2.2 Phytogen Covenant. Phytogen covenants that, during the term of this Agreement, it will only manufacture and supply Product [*] other
[*] for [*] into [*] for the Field of Use. 
  
 2.3 Right of First Refusal for Non-Vascular Applications. Phytogen shall notify Conor in writing prior to Phytogen offering its first license to any Third Party under the Phytogen Proprietary Rights for the development, manufacture
and/or commercialization of any implantable medical devices incorporating the Product, for use in any Non-Vascular Application(s), and Phytogen shall give such notification prior to contacting a Third Party. Upon receipt of such notice, Conor shall
have a period of [*] days to notify Phytogen in writing whether it desires to enter into an agreement with respect to such Non-Vascular Application(s). If Conor notifies Phytogen that it desires to enter into such an agreement with respect to
such Non-Vascular Application(s), the parties shall use good faith efforts to negotiate such an agreement within a period of [*] days after receipt of Conor’s notice. If Conor does not so notify Phytogen within such [*] day period
or if the parties are unable to negotiate and execute an agreement in the [*] day period described above, Phytogen shall have no further obligation thereafter to Conor with respect to such Non-Vascular Applications and shall have the right to
grant a license to one or more Third Parties under the Phytogen Proprietary Rights for the development, manufacture and/or commercialization of any implantable medical devices incorporating the Product, for use in such Non-Vascular Application.

  

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MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 3. MANUFACTURE AND SUPPLY OF PRODUCT 
  
 3.1 Supply of Product. During the term of this Agreement and subject to the terms and conditions hereof, Phytogen
shall manufacture at the Manufacturing Facility and supply Product to Conor in the quantities set forth on firm orders submitted by Conor in accordance with the provisions of Section 3.3. All Product supplied to Conor hereunder shall meet the
Product Specifications. 
  
 3.2 Forecasts. Conor shall
provide Phytogen with forecasts of its orders of Product [*] in accordance with this Section 3.2. The parties recognize that it is difficult to predict accurately the date of Commercial Launch and the quantities of Product that Conor may
order for commercial sale after the date of Commercial Launch. Therefore, if Conor believes that a change in any specific forecasts and/or orders, or the mechanisms set forth in this Section 3, must be made, the parties will discuss appropriate
changes thereto. During the term of this Agreement, [*] prior to the commencement of any calendar quarter, Conor shall provide Phytogen with a written forecast for that calendar quarter of its anticipated orders of Product for incorporation
into Conor Devices and estimated orders for the subsequent [*] quarters. Conor shall include in each forecast anticipated [*] for Product for the [*] covered by such forecast. 
  
 3.3 Orders. At the time that Conor delivers its forecast, it shall
provide to Phytogen firm orders in a form reasonably acceptable to Phytogen for at least those quantities of Product set forth in the forecast for the [*] covered by the forecast. Each such order shall specify the amount ordered, delivery
date and delivery destination; provided, however, that the delivery date specified in each such order may not be earlier than [*] days after the date of such order. Phytogen shall supply [*] percent of the quantities of the Product set
forth in each such firm order by the delivery date specified in such order, subject to the provisions of Section 3.5. 
  
 3.4 Delivery. Phytogen shall use commercially reasonable efforts to deliver to Conor, at the delivery destination and by the delivery date
specified in such order, the specified quantity of Product that conforms to the Product Specifications. Phytogen will notify Conor promptly of any anticipated delay in delivery of Product. 
  
 3.5 Product Shortfalls. If following the acceptance of a firm order
from Conor, Phytogen indicates that it will not be able to supply Conor with all or any portion of Conor’s firm orders, the parties shall meet and in good faith attempt to reach a resolution regarding Phytogen’s capacity shortfall and
Phytogen shall make a good faith effort to make up for the shortfall in [*] days. If Phytogen is able to demonstrate to the Regulatory Committee, technical or scientific reasons for the shortfall, or the occurrence of an event of force
majeure or if the amount of the orders increased by [*] or more over the forecast for [*], such shortfall shall be excused (an “Excused Shortfall”). If in any [*], there are [*] or more quarterly shortfalls
which are not Excused Shortfalls, Phytogen shall be deemed to be in breach of this Agreement. 
  
 3.6 Shipping, Insurance, and Risk of Loss. Shipments will be sent by Federal Express Mail to the delivery destination specified in the applicable firm order submitted by Conor under Section 3.3. Phytogen shall
manufacture, package, label, store, and ship each Batch of Product supplied to Conor hereunder in a manner that assures that such Product meets the 
  

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MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 Product Specifications upon delivery to the delivery destination specified in the applicable firm order. Each shipment
shall be accompanied by a signed certificate of analysis by Phytogen (a) containing the quality control test results for each Batch of Product in such shipment, (b) indicating quality assurance approval of each Batch of Product in such shipment, and
(c) confirming that each Batch of Product in such shipment conforms to the Product Specifications. Phytogen shall bear the cost of shipping Product to the delivery destination set forth in the applicable order. Title as to all Product shipped to
Conor shall pass to Conor [*] as permitted under this Agreement, provided that Conor shall be responsible for and reimburse Phytogen for any Loss or Damage to the Product [*] if the amount of Loss or Damage exceeds [*].

  
 3.7 Compliance With Laws. Phytogen shall manufacture
all Product supplied to Conor hereunder in compliance with GMP, all other requirements of Regulatory Authorities, and applicable laws and regulations, including, without limitation, all laws and regulations applicable to the transportation, storage,
use, handling and disposal of hazardous materials used to manufacture Product. Phytogen shall obtain and/or maintain, at its expense, for so long as Phytogen is supplying Product to Conor hereunder, all facility licenses and government permits,
including, without limitation, health, safety, and environmental permits, necessary for the conduct of Phytogen’s responsibilities to manufacture and supply the Product pursuant to this Agreement. 
  
 3.8 Modification of Specifications. Phytogen may not make or implement
any changes to the Product Specifications without the prior written approval of Conor, which shall not be unreasonably withheld. 
  
 3.9 Manufacturing Changes. Phytogen may not make any changes in such manufacturing process without Conor’s prior written consent if such
changes will require Conor to obtain any supplemental regulatory approvals from any Regulatory Authorities as a result of such change, which consent shall not be unreasonably withheld. 
  
 4. DEVELOPMENT, COMMERCIALIZATION RESPONSIBILITIES AND EXCLUSIVITY 
  
 4.1 Development Responsibilities. Conor shall have the sole right and responsibility, at its expense, to perform all
preclinical, clinical, and other development activities necessary to commercialize Conor Devices incorporating Product, including, without limitation, conducting preclinical research and clinical trials within the Field of Use. Conor shall have sole
control over the development (including, without limitation, the clinical development) of all Conor Devices incorporating Product. 
  
 4.2 Regulatory Matters; Labeling. Conor shall have the sole right and responsibility, at its expense, for preparing, filing, pursuing, and
maintaining all regulatory filings, including without limitation, labeling required to be filed with Regulatory Authorities to obtain marketing approval for Conor Devices incorporating Product and for seeking Regulatory Approvals with respect to
such Conor Devices in those countries in the Territory in which Conor intends to sell or have sold such Conor Devices. All such Regulatory Approvals and applications 
  

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SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 thereof shall be owned by Conor except for Phytogen DMFs filed in countries where Conor Device seeks approval. In
addition, Conor shall have sole control over all communications with Regulatory Authorities, including, without limitation, filings with Regulatory Authorities, with regard to Conor Devices incorporating Product. Conor shall provide Phytogen
promptly with a copy of all Regulatory Approvals of the Conor Device, within the Field of Use in the Territory. 
  
 4.3 Compliance with Applicable Laws. Conor shall manufacture and cause its contractors to manufacture all Conor Devices incorporating the Product
in compliance with GMP, all other requirements of Regulatory Authorities, and applicable laws and regulations, including, without limitation, all laws and regulations applicable to the transportation, storage, sale, investigational and commercial
use, handling and disposal of hazardous materials. Conor shall obtain and/or maintain, at its expense, all facility licenses and government permits, including, without limitation, health, safety and environmental permits necessary for the conduct of
Conor’s responsibility pursuant to this Agreement. 
  
 4.4
Incorporation and Use of Product. Conor shall use and incorporate Product only in such manner contemplated between the parties herein and solely for the Field of Use. 
  
 4.5 Excess Product. In the event the Regulatory Committee determines that Product shipped to Conor by Phytogen
pursuant to Conor’s forecasts and orders and held by Conor in its possession for incorporation in Conor Devices is in excess of Conor’s revised Product forecasts, Phytogen shall have sole discretion as to whether such excess Product shall
be returned to Phytogen or left with Conor for future use. Any Product returned to Phytogen shall be at Conor’s expense. 
  
 4.6 Commercialization. Conor shall have the sole right and responsibility, at its expense, for the marketing, distribution, and sale of Conor
Devices incorporating Product. Phytogen will cooperate with Conor by providing information and support of the Product, as reasonably requested by Conor. 
  
 4.7 Exclusivity. During the term of this Agreement, Conor shall not offer for sale, sell, license or otherwise commercialize Conor Devices in the
Field of Use incorporating [*] purchased or licensed from any Third Party in a country in which Phytogen Proprietary Rights (including, but not limited to, any [*]) are being used [*] by Conor. 
  
 4.8 Phytogen Responsibilities. Phytogen shall be responsible and bear
all costs for the testing, development, manufacture and supply of Product to Conor for incorporation into Conor Devices for pre-commercial and commercial use during the term of this Agreement, and will advise, direct, and assist Conor relating to
the use of the Product, the practice of analytical assays used by Phytogen with respect to Product, and any other methods necessary or useful for the characterization of the Product that are practiced by Phytogen; provided that any travel or other
out of pockets expenses incurred in connection therewith shall be reimbursed by Conor. Conor shall use Phytogen’s analytical assays and methods only for the purposes contemplated by this Agreement and shall not transfer Phytogen’s assays
or methods to any Third Party. 
  

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MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 4.9 Regulatory Committee. Conor and Phytogen shall establish a committee (the “Regulatory
Committee”), which will consist of [*] representatives, [*] of which shall be appointed by Conor, and [*] of which shall be appointed by Phytogen. The representatives of each party may be changed from time to time at the
discretion of the party making such change. The Regulatory Committee shall meet in person or by teleconference from time to time during the term of the Agreement provided that at least [*] representatives are present. The Regulatory Committee
shall be responsible for overseeing and reviewing regulatory and clinical plans for the Product and Conor Devices incorporating Product. The Regulatory Committee may provide guidance and/or make recommendations for such plans. All decisions of the
Regulatory Committee shall be made by a majority of the representatives of the Regulatory Committee provided such majority includes at least one appointee of each party; provided, however, that if the Regulatory Committee is unable to reach a
majority decision with respect to regulatory recalls of the Conor Device only, then Conor shall make the final decision as to such matter, subject to the provisions of Section 6.4 hereof. 
  
 5. QUALITY ASSURANCE; ACCEPTANCE AND REJECTION 
  
 5.1 Quality Control. Phytogen shall maintain a quality control and testing program consistent with GMP to ensure that
the Product supplied to Conor conforms to the Product Specifications (the “Quality Control Procedures”). Phytogen shall follow such Quality Control Procedures and perform quality control testing and quality assurance review, approval, and
Batch release prior to shipping each shipment of Product to Conor to ensure that the Product delivered to Conor comply with the Product Specifications, GMP, all other applicable requirements of Regulatory Authorities, and all applicable laws and
regulations. Conor shall perform quality control testing and quality assurance review, approval, and batch release prior to shipping each shipment of the Conor Devices incorporating the Products to its customers or other users in connection with
clinical trials or otherwise to ensure that the Conor Devices incorporating the Product comply with GMP, all other applicable requirements of Regulatory Authorities, and all applicable laws and regulations. 
  
 5.2 Quality Control and Governmental Audits. During the term of the
Agreement, each party shall permit quality assurance representatives of the other party to inspect the party’s manufacturing facility and to audit, survey or verify the manufacturing procedures for the Product, the adherence of Phytogen to GMP,
and to review records relating to the manufacture of the Product or Conor Device as used with the Product, as applicable (including, without limitation, standard operating procedures relating to or covering the manufacture, handling, or storage of
the Product or Conor Device, as applicable, quality control program documentation and batch records), at any time during normal business hours upon reasonable notice, at least once in each calendar year (and more frequently if the inspection results
in any observations). Each party shall notify the other party immediately (within [*]) in writing in the event (i) any action is taken or threatened by the FDA or other Regulatory Authority relating to a party’s manufacturing facility
where the Conor Device or the Product is manufactured or the manufacture of the Product or the Conor Device, as applicable; (ii) any inspection of any party’s manufacturing facility related to the Product or the Conor Device or used in
connection with the Product or the Conor Device is scheduled by any Regulatory Authority; (iii) any unscheduled 
  

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MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 inspection related to the Product or the Conor Device or any party’s manufacturing facility by any Regulatory
Authority occurs; (iv) a party receives a Form 483 deficiency letter from the FDA or a comparable notice from another Regulatory Authority relating to the Product or the Conor Device, as applicable, or a party’s manufacturing facility related
to the Product or the Device. As applicable; or (v) a party receives a warning letter from the FDA or a similar warning from any other Regulatory Authority that could impact the manufacture of the Product or the Device, as applicable. Each party
shall provide to the other party all correspondence and reports that it receives from or sends to a governmental agency or Regulatory Authority in connection with the manufacture of the Product or the Conor Device, as applicable. Each party shall in
a timely manner rectify or procure the rectification of any deficiencies identified during the course of any audit conducted under this Section 5.2 and shall in a timely manner consult with the other party regarding any deficiencies. 
  
 5.3 Inspection and Rejection. 
  
 (a) Inspection; Rejection; Acceptance. After Conor receives a
shipment of Product from Phytogen, Conor shall promptly test the Product in such shipment in accordance with the acceptance tests (including analytical methods) set forth in the Product Specifications to confirm that such Product conform to the
Product Specifications. At Conor’s request, Phytogen shall transfer to Conor any assays, methods, or other technical information reasonably necessary to enable Conor to perform such acceptance tests. Conor may reject any or all Product that (i)
is adulterated or misbranded within the meaning of the FD&C Act, or (ii) does not conform with the Product Specifications (“Defective Product”), by giving written notice to Phytogen within [*] days after delivery of the Product
to the delivery destination set forth in the applicable firm order, which notice shall identify in reasonable detail the nature of the defect and shall provide a copy of all test methods, raw data, final results and give Phytogen access to all
technical personnel involved in the testing. If Conor fails to give such notice to Phytogen within such time period, Conor will be deemed to have accepted the Product and to have released Phytogen from any claim with respect to such Defective
Product subject to Sections 6.6, 6.7 and 8.5. 
  
 (b) Delivery
Shortage. If Conor discovers that the amount of Product delivered does not conform with the amount set forth in the orders, it shall inform Phytogen within [*] days after delivery of the Product to the delivery destination of the amount
of the shortage. Phytogen shall have [*] days to satisfy any delivery shortage. 
  
 (c) Replacements. At Phytogen’s sole expense, Conor shall return Defective Product to Phytogen (less a sample as necessary for archival purposes) and Phytogen shall replace Defective Product within
[*] days of such notice. 
  
 (d) Resolution of
Disputes. If Phytogen disagrees with Conor’s claim that certain Product is Defective Product, Phytogen shall notify Conor in writing within [*] days after Phytogen receives Conor’s notice of rejection. Within [*] days
thereafter, the parties will appoint a mutually acceptable independent Third Party to test the relevant Product and determine whether such Product is defective. The parties agree that such Third Party tester’s determination shall be final,
binding, and determinative as to whether such Product is Defective Product. The Party against whom the Third Party tester rules shall bear all costs of the Third Party testing. If 
  

 -10- 
  
 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 the Third Party tester’s opinion is [*] of Phytogen or Conor, the parties will [*] in good faith. If
the Third Party tester determines that the applicable Product is not Defective Product, such Product shall be deemed accepted by Conor and Phytogen shall be reimbursed for the costs incurred in connection with any return or replacement of the
Product or other related costs. If the Third Party tester determines that the applicable Product is Defective Product, Phytogen shall replace the Defective Product as quickly as practicable at its own expense. 
  
 6. RECORDS AND REGULATORY MATTERS 
  
 6.1 Records. Phytogen shall maintain complete, accurate, and
authentic accounts, notes, data, and records pertaining to its manufacture, processing, testing, Quality Control Procedures test results, packaging, labeling, storage, and distribution of the Product supplied to Conor hereunder including, without
limitation, master production and control records, batch production and control records, and Product complaint files, in accordance with applicable laws and regulations. Phytogen shall retain such records for a period of [*] years from the
date of shipment of the applicable Batch of Product, or longer if required by applicable law, and, upon request, shall make available to Conor copies of such records for their review. After such time period, Phytogen shall notify Conor prior to
destroying such records and, at Conor’s request and expense, shall provide such records to Conor. Phytogen shall maintain records pertaining to stability for the period required by applicable laws and regulations and records pertaining to
validation of the Product indefinitely. 
  
 Conor shall maintain
complete, accurate, and authentic accounts, notes, data, and records pertaining to its manufacture, processing, testing, quality control procedures test results, packaging, labeling, storage, and distribution of the Conor Devices hereunder
including, without limitation, master production and control records, batch production and control records, and product complaint files, in accordance with applicable laws and regulations. Conor shall retain such records for a period of [*]
years from the date of shipment of the applicable Conor Devices, or longer if required by applicable law, and, upon request, shall make available to Phytogen copies of such records for their review. After such time period, Conor shall notify
Phytogen prior to destroying such records and, at Phytogen’s request and expense, shall provide such records to Phytogen. Conor Devices shall maintain records pertaining to stability for the period required by applicable laws and regulations
and records pertaining to validation of the Conor Devices indefinitely. 
  
 6.2 Sample Retention. Phytogen shall retain samples of each Batch of Product, supplied to Conor pursuant to this Agreement in appropriate conditions of storage for each material retained per labeled conditions and GMP for a period of
at least [*] after the expiration date of the Product from such Batch, or longer if required by applicable law. Conor shall retain samples of each shipment of the Conor Devices supplied pursuant to this Agreement in appropriate conditions of
storage for each material retained per labeled conditions and GMP for a period of at least [*] after the expiration date of the Conor Device, or longer if required by applicable law. 
  
 6.3 Drug Master File. Phytogen agrees to maintain, at no cost to
Conor, a complete DMF covering the manufacture of the Product that meets the requirements of the FDA. In 
  

 -11- 
  
 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 addition, Phytogen will file a DMF covering the manufacture of the Product that meets the requirements of Regulatory
Authorities in the European Union. Conor shall provide written notice to Phytogen of those countries in addition to the United States and the European Union in which Conor intends to sell or have sold Conor Devices incorporating Product. Phytogen
shall notify Conor no later than [*] days after receiving such written notice of whether Phytogen will prepare, file, and maintain, at no cost to Conor, such DMFs. If Phytogen elects to prepare, file, and maintain DMFs in a particular country
at Conor’s request, Phytogen shall use commercially reasonable efforts to prepare and file such DMFs as soon as practicable. If Phytogen elects not to file a DMF in a country requested by Conor, Phytogen shall provide all assistance reasonably
necessary to enable Conor to prepare and file such DMF. Subject to Section 7.3, Conor shall reimburse Phytogen for Phytogen’s out-of-pocket costs related to providing such assistance to Conor; provided, however, that Conor may deduct such
out-of-pocket costs incurred with respect to a filing in a particular country from royalties due under Section 7.1 with respect to Net Sales in such country. Phytogen shall maintain, at its cost, all DMFs filed by Phytogen for the Product in
accordance with the requirements of the FDA and any other applicable Regulatory Authorities including, without limitation, amending and updating such DMF as appropriate. Phytogen hereby grants to Conor and its Affiliates and licensees the right to
access and to reference such DMFs for the purpose of preparing, filing, or maintaining applications for Regulatory Approval and other regulatory filings relating to the Conor Device incorporating Product in the Territory. Each party may inspect DMFs
prepared by the other party as necessary or appropriate. Each party shall provide to the other party copies of all communications from Regulatory Authorities regarding DMFs covering the manufacture of the Product. Each party Phytogen shall also
provide to the other party, during the term of this Agreement, with such other regulatory support and information as the other party may reasonably request in connection with the Product and/or the Conor Device, including, without limitation, the
preparation and maintenance of regulatory filings related to the Conor Device to the extent that such filings relate to the Product. In addition, at Conor’s request and expense, Phytogen shall make appropriate personnel reasonably available for
meetings with Regulatory Authorities related to the manufacture of Product. 
  
 6.4 Recalls, Market Withdrawals, or Corrections. Each party shall maintain records as may be necessary to permit a recall, market withdrawal or a field correction of any of the Product or the Conor Device
incorporating the Product delivered to Conor, Conor’s Affiliates, or to Conor Customers in the Territory that is effected either voluntarily or under a threat of, or a directive by, any governmental agency. Each party shall notify the other
party immediately by telephone (to be confirmed in writing within [*] days) upon discovery that any Product is or should be the subject of a recall, market withdrawal, or correction. If the parties cannot agree on whether to initiate a recall
or to take some other corrective action with respect to Conor Devices incorporating Product, the Regulatory Committee shall immediately be convened to consider the issue and if no majority decision of the Regulatory Committee can be reached, (a)
Conor shall have the right to recall the Conor Devices incorporating the Product if it believes that such devices are defective or contaminated and (b) if Phytogen believes that the Product may be defective or contaminated, Phytogen may require
Conor to recall Conor Devices incorporating the Product. Phytogen will cooperate as reasonably required by Conor in accordance with all applicable laws and regulations, including assisting with the development of a recall plan. To the extent that a
recall, market withdrawal, or correction results from, or arises 
  

 -12- 
  
 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 out of, Phytogen’s failure to comply with GMP or other applicable laws or regulations or to manufacture Products
that conform to the Product Specifications, and Conor did not handle the Product in any manner which altered or caused to be defective the Product or otherwise caused such failure, then Phytogen shall bear all costs and expenses of the recall,
market withdrawal, or correction and will reimburse Conor for Conor’s and Conor Customers’ costs and expenses related to the recall, market withdrawal, or correction, including notification, and the cost of replacement Conor Devices
incorporating Product, shipping, and handling charges. In all other circumstances, Conor shall bear the cost and expense of recalls, market withdrawals, or corrections of Conor Devices incorporating Product. 
  
 6.5 Customer Questions and Complaints. Conor shall have the sole
responsibility for responding to questions and complaints relating to Conor Devices from Conor Customers. Questions or complaints received by Phytogen from Conor Customers relating to Conor Devices shall be promptly referred to Conor. Phytogen shall
provide Conor reasonable technical assistance and cooperate as reasonably required to allow Conor to determine the cause of and resolve any customer questions and complaints. Such assistance shall include reasonable follow-up investigations,
including testing. In addition, within [*] days from the date of Conor’s request, Phytogen shall provide Conor with all necessary information in its possession that will enable Conor to respond properly to questions or complaints related
to Product supplied by Phytogen hereunder. All costs arising out of handling Conor Customer questions and complaints shall be borne by Conor. If such complaint resulted from Phytogen’s failure to manufacture the Products in compliance with GMP
or other applicable laws or regulations or in conformance with the Product Specifications, or Phytogen’s handling or storage of the Product after its manufacture, and Conor did not handle the Product in any manner which altered or caused the
Product to be defective or otherwise caused such failure, then Phytogen shall reimburse all related expenses incurred by Conor. 
  
 6.6 Product Returns. Conor shall be solely responsible for handling customer returns of Conor Devices incorporating Product in the Territory.
Phytogen shall provide Conor with such assistance as Conor may reasonably require to handle such returns. Subject to a full investigation by the Regulatory Committee, to the extent it is determined that a return results from, or arises out of,
Phytogen’s failure to comply with GMP or other applicable laws or regulations or to manufacture the Product in accordance with the Product Specifications and Conor did not handle the Product in any manner which altered or caused to be defective
the Product or otherwise caused such failure, Phytogen shall provide to Conor an amount of Product manufactured in compliance with GMP and other applicable laws and regulations and that conform to the Product Specifications equal to that necessary
to replace the number of returned Conor Devices incorporating Product within [*] days from the date that Phytogen receives notice from Conor of the returned Conor Devices. In all other circumstances, customer returns or similar actions shall
be made at Conor’s sole cost and expense. 
  
 6.7 Field
Alert Reporting. If either party receives information concerning any viral, bacterial, or similar contamination, or any significant chemical, physical, or other change or deterioration in a distributed Conor Device incorporating Product, or any
failure of any distributed Conor Device incorporating Product to meet the Product Specifications or other 
  

 -13- 
  
 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 relevant specifications (a “Field Alert”), such party shall notify the other party immediately by telephone (to
be confirmed in writing within [*]). Conor shall be responsible for investigating and documenting all such information relating to Field Alerts. Conor will be solely responsible for filing all post-marketing Field Alert reports required by
Regulatory Authorities, or as required by applicable laws or regulations. Phytogen will cooperate as reasonably required by Conor with the investigation of such incidents. Subject to a full investigation by the Regulatory Committee, to the extent it
is determined that the Field Alert arises out of Phytogen’s failure to manufacture the Product in compliance with GMP or other applicable laws or regulations or in conformance with the Product Specifications and Conor did not handle the Product
in any manner which altered or caused to be defective the Product or otherwise caused such failure, Phytogen shall bear the cost and expense of investigating and responding to such Field Alert, and shall provide an amount of Product that has been
manufactured the affected Product compliance with GMP and other applicable laws and regulations and that conform to the Product Specifications necessary to produce the number of Conor Devices equal to the quantity of Conor Devices incorporating
Product that are the subject of the Field Alert within [*] days from the date that Phytogen becomes aware of such Field Alert. 
  
 6.8 Adverse Drug Experience Reporting. Conor shall be responsible for receiving, investigating, and documenting all adverse drug experiences
relating to Conor Devices incorporating Product. Conor will be solely responsible for filing all post-marketing reports of such adverse drug experiences required by Regulatory Authorities, or as required by applicable laws or regulations. In the
event that either party receives a report of an adverse drug experience relating to the use of Conor Devices incorporating the Product anywhere in the world, it shall notify the other party in writing within [*] days of initial receipt of
such information, or if such event is serious and unexpected, within [*] and each party shall immediately provide the other party with all information, correspondence and relevant data regarding the same. The Regulatory Committee will
investigate the cause of the event and determine whether it should be reported to the Regulatory Authorities. 
  
 7. CONSIDERATION 
  
 7.1 Royalties. Subject to the provisions of this Section 7 and the terms and conditions of this Agreement, in consideration for Phytogen’s manufacture and supply of Product to Conor hereunder, Conor shall pay to Phytogen
royalties (less any taxes required to be deducted in accordance with Section 7.3(d)) based on the cumulative annual Net Sales of all Conor Devices incorporating Product received by Conor or its Affiliates as follows: 
  

			
	 Royalty Rate

	 	 Portion of Annual Net Sales in the Territory

	 [*]
	 	[*]
	 [*]
	 	[*]

  
 For the avoidance of doubt, the
cumulative annual Net Sales for any given year shall be reset to zero upon each anniversary of Commercial Launch of Conor Devices incorporating Product in 
  

 -14- 
  
 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 the first country in which Conor Devices incorporating Product are sold for purposes of determining the applicable
royalty rate under this Section 7.1. Conor shall not owe any royalties to Phytogen for sales of Conor Devices that do not incorporate Product supplied by Phytogen hereunder. 
  
 7.2 Fees for License or Sublicense. If Conor grants a license or sublicense to the Conor Devise incorporating the
Product to a Third Party, Conor shall pay Phytogen [*] of any license fees or other consideration of a kind, including without limitation, the monetary value of any cross license or other in kind consideration at a value to be determined
jointly by the parties. 
  
 7.3 Payment and
Accounting. 
  
 (a) Payment Terms and Reports.
Payments due under Sections 7.1 and 7.2 shall be payable to Phytogen by Conor on a quarterly basis within [*] days following the end of each calendar quarter with respect to any Net Sales of Conor Devices incorporating Product in such
quarter. Each such payment shall be accompanied by a statement setting forth in reasonable detail (i) the number and type of Conor Device incorporating Product sold in each country and the Net Sales applicable thereto, (ii) a breakdown of all the
components of Net Sales set forth in clauses (i)—(iv) as set forth in Section 1.19, and (iii) such additional details as may be reasonably requested by Phytogen for the determination of payments due under Sections 7.1 and 7.2. Conor Devices
incorporating Product shall be considered as being sold for the purpose of the calculation of payments due under Section 7.1 and 7.2 when the payments for the Conor Device are earned and recorded by Conor or its Affiliates from a Third Party in
accordance with GAAP. Except as provided in Section 7.3(c) below, all payments to be made under this Agreement shall be paid in United States dollars. Net Sales of Conor Devices and fees in currencies other than United States dollars shall be first
determined in the currency of the country in which they are earned and shall be converted monthly into an amount in U.S. Dollars at the average of the bid and ask prices reported in the California edition of The Wall Street Journal as of the close
of the last business day of such month in which such Net Sales are earned. All such converted Net Sales shall be consolidated with U.S. Net Sales for each calendar quarter and the applicable payments determined therefrom. 
  
 (b) Records and Audits. Conor shall keep and maintain complete and
accurate records and documentation pertaining to Net Sales of, and license and other fees relating to, Conor Devices incorporating Product in sufficient detail to permit Phytogen to confirm the accuracy of all payments due hereunder. Conor shall
retain such records and documentation for a period of [*] years from the date on which such records and documentation were created. Such records and documentation will be available for inspection during such [*] year period by an
independent certified public accountant selected by Phytogen and reasonably acceptable to Conor, solely for the purpose of verifying the payments made by Conor under this Agreement. Said accountant shall enter into a confidentiality agreement with
Conor containing terms and conditions similar to those set forth in Section 13 hereof, and shall not disclose to Phytogen any information except that which is necessary to determine whether Phytogen has received all amounts due to it by Conor. Such
inspections shall be made no more than once each calendar year during ordinary business hours and on reasonable prior notice. Phytogen shall 
  

 -15- 
  
 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 report the results of any such audit to Conor within [*] days of completion and provide a copy of such audit to
Conor. The results of any such audit shall be the Confidential Information of Conor. To the extent that such audit reveals any overpayments or underpayments by Conor, Conor shall pay to Phytogen the amount of shortfall or, if applicable, Phytogen
shall refund the amount of overpayment made by Conor, within [*] days from the date on which Conor receives the certified public accountant’s report. Audits conducted under this Section 7.3(b) shall be at the expense of Phytogen, unless
the amount determined to be underpaid by Conor exceeds [*] of the amount actually due, whereupon Conor shall bear all costs and expenses relating to such audit (including the fees and expenses of the certified public accountant). 

 
 (c) Currency Transfer Restrictions. In each country or jurisdiction
where the local currency is blocked and cannot be removed from the country, royalties on Net Sales accrued in such country or jurisdiction shall be paid to Phytogen in such country or jurisdiction by deposit to a bank account or other depository
designated by Phytogen in such country or jurisdiction, which payments shall be in the local currency of such country or jurisdiction. 
  
 (d) Taxes. Phytogen shall pay any and all taxes levied on account of payments it receives under this Agreement. Conor shall pay, or cause to be
paid, any and all taxes required to be paid or withheld on any sales, supply or other transfers for value of Conor Devices (other than taxes imposed on the income or revenues of Phytogen). All amounts due hereunder shall be without deduction of
exchange, collection or other charges, provided that if Conor is required to withhold and pay on behalf of Phytogen any income or other similar tax with respect to the amounts payable under this Agreement, Conor shall deduct such tax payments from
and offset against any said payments prior to remittance to Phytogen; and further provided that in regard to any tax so deducted, Conor shall give or cause to be given to Phytogen such assistance as may reasonably be necessary to enable Phytogen to
claim exemption therefrom and credit therefor, and in each case shall furnish Phytogen proper evidence of the taxes paid on Phytogen’s behalf. 
  
 8. REPRESENTATIONS AND WARRANTIES 
  
 8.1 Mutual Representations and Warranties. Each party represents and warrants the following: 
  
 (a) Corporate Power. Such party is duly organized and validly
existing under the laws of the state of its organization and has full corporate power and authority to enter into this Agreement and to carry out the provisions hereof. 
  
 (b) Due Authorization. Such party is duly authorized to execute and deliver this Agreement and to perform its
obligations hereunder. The person executing this Agreement on such party’s behalf has been duly authorized to do so by all requisite corporate action. 
  
 (c) Binding Agreement. This Agreement is a legal and valid obligation binding upon the parties and enforceable in accordance with its terms. The
execution, delivery and performance of this Agreement by each party does not conflict with any agreement, instrument or understanding, oral or written, to which it is a party or by which it may be bound, nor, to the parties’ knowledge, does it
violate any material law or regulation of any court, governmental body or administrative or other agency having jurisdiction over it. 
  

 -16- 
  
 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 8.2 Phytogen’s Representations and Warranties. Phytogen hereby represents and warrants to
Conor as follows: 
  
 (a) Phytogen has not granted to a
Third Party any license under the Phytogen Proprietary Rights that are inconsistent with, or otherwise restrict, the rights granted to Conor hereunder, and will not grant any Third Party such a license during the term of this Agreement other than as
permitted in Section 2.2; 
  
 (b) to its knowledge, no
Third Party has asserted either (i) that Phytogen or any employee, agent, representative, or other person affiliated with Phytogen has misappropriated or improperly used or disclosed a trade secret, confidential information, or know-how of such
Third Party through the manufacture, use, or sale of Product, or (ii) that the manufacture, use, or sale of Product, either alone or incorporated in an implantable medical device, infringes a Third Party’s patent rights; 
  
 (c) to its knowledge, there are no claims, judgments or settlements
involving Phytogen and relating to the Phytogen Proprietary Rights or the manufacture, use or sale of Product, and no pending claims, litigation or proceedings against Phytogen relating to the Phytogen Proprietary Rights or the manufacture, use or
sale of Product; 
  
 (d) Phytogen shall not employ,
contract with, or retain any person directly or indirectly to manufacture Product if such person is under investigation by the FDA for debarment or is presently debarred by the FDA pursuant to 21 U.S.C. § 335a. 
  
 (e) Phytogen has not engaged in any conduct or activity which could
lead to an FDA debarment action, and no disbarment proceedings are currently underway or, to the knowledge of Phytogen, contemplated against Phytogen or any of its employees. 
  
 (f) If during the term of this Agreement, Phytogen or any person employed or retained by it to manufacture Product
(i) comes under investigation by the FDA for a debarment action, (ii) is debarred, or (iii) engages in any conduct or activity that could lead to a debarment action, Phytogen shall immediately notify Conor of same; 
  
 (g) Phytogen has obtained and maintained all government licenses,
permits, and certifications necessary to manufacture the Product in compliance with all laws, rules and regulations; 
  
 (h) The Manufacturing Facility is operated in full compliance with GMP, has received all necessary governmental approvals to manufacture Product
for sale in the US, Canada. 
  
 (i) In the past [*],
Phytogen has not received any Form 483 observations or any warning letters from the FDA, or comparable communications from other Regulatory Authorities with respect to the Manufacturing Facility or Phytogen’s manufacturing operations or
procedures. 
  

 -17- 
  
 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 (j) Phytogen is not currently subject to an FDA consent decree or any other similar action of a
Regulatory Authority; and 
  
 (k) Phytogen has the
personnel, expertise, and necessary facilities to manufacture and supply Product that conform with the Product Specifications and are manufactured in accordance with GMP and applicable laws, rules and regulations, as contemplated by this Agreement;

  
 (l) Phytogen has obtained Regulatory Approval of the
Product and will maintain such Regulatory Approvals as necessary for Phytogen to supply Product for use with Conor Devices. 
  
 8.3 Conor’s Representations and Warranties. Conor hereby represents and warrants to Phytogen as follows: 
  
 (a) Conor has not entered into any agreement with any Third Party
that is inconsistent with, or otherwise restricts or limits, Conor’s ability to perform under this Agreement; 
  
 (b) to its knowledge, no Third Party has asserted either (i) that Conor or any employee, agent, representative, or other person affiliated with
Conor has misappropriated or improperly used or disclosed a trade secret, confidential information, or know-how of such Third Party through the manufacture, use, or sale of the Conor Device, or (ii) that the manufacture, use, or sale of the Conor
Device infringes a Third Party’s patent rights; 
  
 (c)
to its knowledge, there are no claims, judgments or settlements involving Conor and relating to the Conor Proprietary Rights or the manufacture, use or sale of the Conor Device, and no pending claims, litigation or proceedings against Conor
relating to the Conor Proprietary Rights or the manufacture, use or sale of Conor Device or any other matter[*]; 
  
 (d) Conor shall not employ, contract with, or retain any person directly or indirectly to manufacture Conor Device if such person is under
investigation by the FDA for debarment or is presently debarred by the FDA pursuant to 21 U.S.C. § 335a. 
  
 (e) Conor has not engaged in any conduct or activity which could lead to an FDA debarment action, and no disbarment proceedings are currently
underway or, to the knowledge of Conor, contemplated against Conor or any of its employees. 
  
 (f) If during the term of this Agreement, Conor or any person employed or retained by it to manufacture the Conor Device (i) comes under investigation by the FDA for a debarment action, (ii) is debarred, or
(iii) engages in any conduct or activity that could lead to a debarment action, Conor shall immediately notify Phytogen of same; 
  

 -18- 
  
 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 (g) In the past [*], Conor has not received any Form 483 observations or any warning
letters from the FDA, or comparable communications from other Regulatory Authorities with respect to its manufacturing facilities or Conor’s manufacturing operations or procedures. 
  
 (h) Conor is not currently subject to an FDA consent decree or any other similar action of a Regulatory Authority;
and 
  
 (i) Conor has the personnel, expertise, and
necessary facilities to manufacture and supply the Conor Device incorporating the Product in accordance with GMP and applicable laws, rules and regulations, as contemplated by this Agreement. 
  
 8.4 Phytogen Product Warranty. Phytogen warrants that all Product
supplied by Phytogen under this Agreement at the time of delivery to Conor, and for the duration of the shelf life of the Product as set forth in the Product Specifications, (i) shall conform to the Product Specifications; (ii) shall be manufactured
in accordance with GMP, applicable Regulatory Approvals, and all other applicable laws or regulations; (iii) shall be free from liens and claims of Third Parties; (iv) shall be made by Phytogen in a manner that does not infringe upon the proprietary
rights of any Third Party and that does not constitute a misappropriation of Third Party rights; and (v) shall not be adulterated or misbranded within the meaning of the FD&C Act, or any applicable laws in which the definitions of adulteration
and misbranding are substantially the same as those contained in the Act, as the Act and laws are constituted and effective at the time of delivery of Product to Conor. 
  
 8.5 Conor Device Warranty. Conor warrants that all Conor Devices supplied by Conor under this Agreement to Conor
Customers and for use in clinical trials and for the duration of the shelf life of the Conor Devices (i) shall be manufactured in accordance with GMP, applicable Regulatory Approvals, and all other applicable laws or regulations; (ii) shall be free
from liens and claims of Third Parties; (iii) shall be made by Conor in a manner that does not infringe upon the proprietary rights of any Third Party and that does not constitute a misappropriation of Third Party rights; and (v) shall not be
adulterated or misbranded within the meaning of the FD&C Act, or any applicable laws in which the definitions of adulteration and misbranding are substantially the same as those contained in the Act, as the Act and laws are constituted and
effective at the time of sale of the Conor Devices. 
  
 8.6 Limited Warranty. THE WARRANTIES PROVIDED IN THIS SECTION 8 ARE THE ONLY WARRANTIES APPLICABLE TO THE PRODUCT. ALL OTHER WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY OR
FITNESS FOR A PARTICULAR PURPOSE ARE HEREBY DISCLAIMED. 
  
 8.7
Disclaimer. SAVE AS EXPRESSLY STATED IN THIS AGREEMENT, NO REPRESENTATION OR WARRANTY WHATSOEVER IS MADE OR GIVEN BY OR ON BEHALF OF PHYTOGEN OR CONOR. ALL REPRESENTATIONS AND WARRANTIES, WHETHER ARISING BY OPERATION OF LAW OR OTHERWISE, ARE
HEREBY EXPRESSLY EXCLUDED. 
  

 -19- 
  
 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 9. INTELLECTUAL PROPERTY OWNERSHIP 
  
 9.1 Ownership of Inventions. 
  
 (a) Except as otherwise set forth herein, all inventions and discoveries created or reduced to practice by employees
or agents of one party as a result of such party’s activities under the Agreement during the term of this Agreement (“Sole Inventions”) shall be the property of such party, except as otherwise provided herein. If employees or agents
of Conor or Phytogen jointly develop any invention or discovery, Conor and Phytogen shall each own an undivided one-half (1/2) interest, without a duty of accounting to the other party, in and to such invention (“Joint Invention”), except
as otherwise provided herein. 
  
 (b) Notwithstanding any
other provision of this Agreement, with respect to Phytogen’s Sole Inventions and Joint Inventions relating to the Conor Core Technology, Phytogen shall assign its interest in such Sole or Joint Invention to Conor at no charge, and shall
execute and cause to be executed such documents as may be reasonably requested by Conor in order to evidence and perfect such assignment. Notwithstanding any other provision of this Agreement, with respect to Conor’s Sole Inventions and Joint
Inventions relating to the Phytogen Core Technology, Conor shall assign its interest in such Sole Inventions and Joint Inventions to Phytogen at no charge, and shall execute and cause to be executed such documents as may be reasonably requested by
Phytogen in order to evidence and perfect such assignment.. All information regarding Sole Inventions or Joint Inventions assigned to a party hereunder shall be the Confidential Information of the party to which such inventions were assigned. If
after giving effect to the foregoing sentence, any Joint Invention is jointly owned by the parties under this Section 9.1, each party and its Affiliates shall have the right to independently practice such Joint Invention and to make, use, sell,
offer for sale and import Product covered by such Joint Invention, but each party shall not have the right to assign or sublicense its rights in and to such Joint Invention without the consent of the other party, except as permitted in this
Agreement. Phytogen may grant sublicenses under jointly owned Joint Inventions to Third Parties or Affiliates without Conor’s prior consent, solely for the purpose of making, using, selling, offering for sale, or importing Product. Conor may
grant sublicenses under jointly owned Joint Inventions to Third Parties or Affiliates without Phytogen’s prior consent, solely for the purpose of making, using, selling, offering for sale, or importing implantable medical devices for use with
the Product. 
  
 9.2 Patent Filings. Each party shall have
sole discretion and responsibility to prepare, file, prosecute and maintain patent applications or patents claiming Sole Inventions made by employees or agents of such party and shall be responsible for related interference proceedings, except that
(a) Conor shall have sole discretion and responsibility to prepare, file, prosecute and maintain patent applications and patents claiming (i) Sole Inventions of Phytogen and (ii) Joint Inventions, in each case assigned to Conor under Section 9.1(b),
and (b) Phytogen shall have sole discretion and responsibility to prepare, file, prosecute and maintain patent applications and patents claiming (i) Sole Inventions of Conor and (ii) Joint Inventions, in each case assigned to Phytogen under Section
9.1(b). 
  

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 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 9.3 Patent Filings for Jointly Owned Joint Inventions. With respect to Joint Inventions that have
not been assigned to one party under Section 9.1(b), the parties shall determine which party shall be responsible for filing, prosecuting, maintaining and defending patent applications and patents on behalf of both parties (the “Responsible
Party”) based on a good faith determination of the relative [*] of the parties to the invention and the relative [*] of the parties in the invention. At least [*] days prior to the contemplated filing, the Responsible Party
shall submit a substantially completed draft of the patent application covering such Joint Invention (the “Joint Patent Application”) to the other party for its approval, which shall not be unreasonably withheld. Except as set forth below,
the parties shall share equally the costs of the preparation, filing, prosecution and maintenance of all Joint Patent Applications. If the Responsible Party does not wish to file, prosecute or maintain any Joint Patent Application or maintain or
defend any patents issuing thereon in a particular country, it shall grant the other party any necessary authority to file, prosecute and maintain such Joint Patent Application or maintain or defend such patents issuing thereon in the name of both
parties. If either party elects not to pay its portion of any shared costs for a Joint Patent Application or patent issuing therefrom, the other party may proceed with such Joint Patent Application in its own name and at its sole expense, in which
case the party electing not to pay its share of costs shall assign its entire right, title and interest in and to such Joint Patent Application to the other party and such invention shall be treated as a Sole Invention of the assignee for the
purposes of Sections 9.1 and 9.2. Each party shall provide and promptly disclose in writing to the other party (a) drafts of all patents and patent applications to be filed (and any related filings) that relate to any Joint Inventions prior to
filing so that the other party has a reasonable opportunity to comment and consult on such filings and approve such filings as well as copies of final documentation and (b) all information received concerning the institution or possible institution
of any interference, opposition, re-examination, reissue, revocation, nullification or any official proceeding, any infringement action or possible infringement action or unauthorized use by the parties or any third party involving any patent or
patent application or otherwise relating to the Joint Inventions and the parties shall jointly decide on appropriate responses to such matters. If either party wants to enforce patents covering jointly-owned Joint Inventions, such party shall
provide written notice to the other party and the parties shall meet to discuss such enforcement. Each party further agrees to keep other party promptly and fully informed of the course of patent prosecution, maintenance, infringement, enforcement
or other proceedings including, without limitation, providing other party with copies of substantive communications, notices, actions, search reports and third party observations submitted to or received from patent offices. 
  
 9.4 Effect of Termination on Joint Inventions. Upon termination of
this Agreement, (i) either party may use the Joint Inventions assigned to it and Sole Inventions assigned to it as it so chooses, including, but not limited to, by means of licensing to a third party, for any purpose, (ii) neither party shall have
any obligation to obtain the other party’s consent to any aspect of such exploitation, to account to the other party in any manner in connection therewith, or to make any payment to the other party in connection therewith and neither party
shall have any claims against the other party in respect of such payments or other similar rights and (iii) either party may enforce its rights to the Joint Inventions assigned to it and Sole Inventions assigned to it with respect to Third Parties.
The parties agree to execute any documents or further agreements to effect the intent of the foregoing. 
  

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 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 9.5 Maintenance of Trade Secrets. During the term of this Agreement, each party shall use
commercially reasonable efforts to maintain the secrecy of its trade secrets included in the Phytogen Proprietary Rights and the Conor Proprietary Rights, as applicable, except to the extent disclosure is required in connection with obtaining or
maintaining patent protection thereon. 
  
 9.6 Filing,
Prosecution, and Maintenance of Phytogen Proprietary Rights. During the term of this Agreement, Phytogen may, at its sole election and expense, file patent applications covering the Phytogen Proprietary Rights in its own name. If Phytogen elects
to file patent applications covering the Phytogen Proprietary Rights, Phytogen shall be responsible for diligently prosecuting and maintaining, at its sole expense, such patent applications and patents issuing thereon. Phytogen shall retain patent
counsel of its choosing in connection with the performance of its obligations under this Section 9.5. Phytogen shall keep Conor reasonably informed of its patent prosecution activities with respect to the Phytogen Proprietary Rights, and shall
notify Conor if Phytogen elects to abandon any patent application or patent within the Phytogen Proprietary Rights. 
  
 9.7 Enforcement of Phytogen Proprietary Rights. If any Phytogen Proprietary Rights are infringed by a Third Party by reason of the manufacture,
use, or sale of a product competitive with the Conor Device, the parties shall confer regarding whether to institute an action or proceeding with respect to such infringement. 
  
 9.8 Enforcement of Conor Core Technology. Conor shall have the sole right, at its sole expense, to enforce patents
Controlled by Conor covering the Conor Core Technology against Third Party infringers. 
  
 9.9 Infringement of Third Party Patent Rights. If the manufacture, use, importation, or sale of Conor Devices incorporating Product results in any claim for patent infringement against either party, such party
shall promptly notify the other party in writing, setting forth the facts of such claim in reasonable detail. As between the parties to this Agreement, Conor shall have the first and primary right at its own expense to defend, and control the
defense, of any such claim by counsel of its own choice. Phytogen agrees to cooperate with Conor in any reasonable manner deemed by Conor to be necessary in defending any such action. Conor shall reimburse Phytogen for any out-of-pocket expenses
incurred in providing such assistance. 
  
 10. TERM AND TERMINATION

  
 10.1 Term. Unless earlier terminated as provided
in this Section 10, the term of this Agreement shall commence on the Effective Date and shall expire on the tenth anniversary of the date of Commercial Launch of the Conor Device in the first country in the Territory. 
  

 -22- 
  
 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 10.2 Early Termination. Notwithstanding the provisions of Section 10.1, this Agreement may be
terminated by: 
  
 (i) Either party, upon written
notice to the other party if such other party, after receiving written notice identifying a material breach of this Agreement, fails to cure such breach within ninety (90) days from the date of such notice; and. 
  
 (ii) by either party (1) if the other party ceases to do
business or otherwise terminate its business operations or is unable to pay its debts as they become due or (2) the other party shall seek protection under any bankruptcy, receivership, trust deed, creditors arrangement, composition or comparable
proceeding, or if any such proceeding is instituted against the other. 
  
 10.3 Product Transfer. If this Agreement is terminated, Conor shall promptly return to Phytogen all Product in its possession and shall pay for shipment to Phytogen. 
  
 10.4 Return of Confidential Information. No later than thirty (30) days after the expiration or termination of this
Agreement, each party shall return to the other party all of such other Party’s Confidential Information, all copies thereof, and any material that embodies or incorporates such Confidential Information; provided, however, that each party may
retain one copy of such Confidential Information solely for archival purposes. 
  
 10.5 Obligations Upon Termination. The following Sections of this Agreement shall survive the termination or expiration of this Agreement: Section 6.1 (Records), Section 6.2 (Sample Retention), Section 6.4
(Recalls, Market Withdrawals or Corrections), Section 6.5 (Customer Questions and Complaints), Section 6.6 (Product Returns), Section 6.7 (Field Alert Reporting), Section 6.8 (Adverse Drug Experience Reporting), Section 7 (Consideration), Section
8.4 and 8.5 (Product Warranties), Section 9 (Intellectual Property Ownership), Section 10.3 (Product Transfer), Section 10.4 (Return of Confidential Information), Section 10.5 (Obligations Upon Termination), Section 11 (Indemnification), Section 13
(Confidential Information), Section 14.3 (Governing Law), Section 14.5 (Waiver), Section 14.6 (Severability), and Section 14.12 (Attorneys’ Fees). Section 2.1 (License to Conor) shall survive the termination or expiration of this Agreement
unless this Agreement was terminated by Phytogen under Section 10.2. Conor’s right of access and reference to DMFs under Section 6.3 shall survive the termination or expiration of this Agreement for a period of one (1) year after the effective
date of such termination or expiration to allow Conor to sell Conor Devices that incorporate Product that were supplied to Conor by Phytogen during the term of this Agreement, subject to payment by Conor to Phytogen of the applicable payments due
under Section 7. The termination or expiration of this Agreement for any reason shall not relieve either party of liability to the other for any breach of this Agreement prior to the effective date of such termination or expiration. Conor and its
Affiliates may, for a period of one (1) year after the effective date of such termination, sell Conor Devices that incorporate Product that were supplied to Conor by Phytogen during the term of this Agreement, subject to payment by Conor to Phytogen
of the applicable payments due under Section 7. 
  

 -23- 
  
 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 11. INDEMNIFICATION 
  
 11.1 Indemnification by Conor. Conor shall defend, indemnify, and hold Phytogen and Phytogen’s officers, directors, employees, and agents (the
“Phytogen Indemnitees”) harmless from and against any and all Third Party claims, suits, proceedings, damages, expenses (including court costs and reasonable attorneys’ fees and expenses), and recoveries (collectively,
“Claims”) to the extent that such Claims arise out of, are based on, or result from (a) the sale, marketing, promotion, use, or distribution of Conor Devices incorporating Product supplied by Phytogen, including, without limitation, the
indemnity set forth in Section 13.3; (b) Conor’s material breach of its obligations under the Agreement; (c) Conor’s material breach of its representations or warranties under the Agreement; (d) the willful misconduct or negligent acts of
Conor or its directors, officers, agents, and employees or (e) Conor’s infringement of an Third Party’s intellectual property rights in connection with the Conor Device with the Product. The foregoing indemnity obligation shall not apply
if Phytogen fails to comply with the indemnification procedures set forth in Section 11.3, or to the extent that any Claim arises from, is based on, or results from (i) the willful misconduct or negligent acts or omissions of any of the Phytogen
Indemnitees; (ii) a material breach by Phytogen of its representations or warranties under this Agreement; (iii) a material breach by Phytogen of its obligations under this Agreement; (iv) Phytogen’s infringement of a Third Party’s
intellectual property rights in connection with the Product. 
  
 11.2 Indemnification by Phytogen. Phytogen shall defend, indemnify, and hold Conor and Conor’s officers, directors, employees, and agents (the “Conor Indemnitees”) harmless from and against any and all Claims to the
extent that such Claims arise out of, are based on, or result from (a) Phytogen’s material breach of its obligations under the Agreement; (b) Phytogen’s material breach of its representations or warranties under the Agreement, including,
without limitation, the indemnity set forth in Section 13.3; (c) the willful misconduct or negligent acts of Phytogen or its directors, officers, agents, and employees; (d) Phytogen’s infringement of a Third Party’s intellectual property
rights in connection with the Product. The foregoing indemnity obligation shall not apply if Conor fails to comply with the indemnification procedures set forth in Section 11.3, or to the extent that any Claim arises from, is based on, or results
from (i) the willful misconduct or negligent acts or omissions of any Conor Indemnitees; (ii) Conor’s material breach of its obligations under the Agreement; (iii) Conor’s material breach of its representations or warranties under the
Agreement; or (iv) Conor’s infringement of a Third Party’s intellectual property rights in connection with the Conor Device, with or without the Product. 
  
 11.3 Indemnification Procedures. The party claiming indemnity under this Section 11 (the “Indemnified
Party”) shall give written notice to the party from whom indemnity is being sought (the “Indemnifying Party”) promptly after learning of such Claim. The Indemnified Party shall provide the Indemnifying Party with reasonable
assistance, at the Indemnifying Party’s expense, in connection with the defense of the claim for which indemnity is being sought. The Indemnified Party may participate in and monitor such defense with counsel of its own choosing at its sole
expense; however, the Indemnifying Party shall have the right to assume and conduct the defense of the claim with counsel of its choice. The Indemnifying Party shall not settle any 
  

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 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 claim without the prior written consent of the Indemnified Party, not to be unreasonably withheld, unless the settlement
involves only the payment of money. So long as the Indemnifying Party is actively defending the claim in good faith, the Indemnified Party shall not settle any such claim without the prior written consent of the Indemnifying Party. If the
Indemnifying Party does not assume and conduct the defense of the claim as provided above, (a) the Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to the claim in any manner
the Indemnified Party may deem reasonably appropriate (and the Indemnified Party need not consult with, or obtain any consent from, the Indemnifying Party in connection therewith), and (b) the Indemnifying Party will remain responsible to indemnify
the Indemnified Party as provided in this Section 11. 
  
 11.4
Limitation of Liability. NEITHER PARTY SHALL BE LIABLE TO THE OTHER FOR ANY SPECIAL, CONSEQUENTIAL, INCIDENTAL, OR INDIRECT DAMAGES ARISING FROM OR RELATING TO ANY BREACH OF THIS AGREEMENT, REGARDLESS OF ANY NOTICE OF THE POSSIBILITY OF SUCH
DAMAGES. NOTWITHSTANDING THE FOREGOING, NOTHING IN THIS SECTION 11.4 IS INTENDED TO LIMIT OR RESTRICT THE INDEMNIFICATION RIGHTS OR OBLIGATIONS OF ANY PARTY UNDER SECTION 11.1 OR 11.2, OR DAMAGES AVAILABLE FOR BREACHES OF CONFIDENTIALITY OBLIGATIONS
IN SECTION 13. 
  
 11.5 Insurance. Phytogen shall, at all
times that it is supplying Product commercially, maintain product liability insurance policies with insurers of recognized standing, with policy limits of not less than [*] per occurrence Conor shall, at all times that it is selling or having
sold Conor Devices incorporating the Product for commercial use, maintain product liability insurance policies with insurers of recognized standing, with policy limits of not less than [*] per occurrence. Each Party shall promptly notify the
other Party in writing if such policies are to be revoked, canceled or materially decreased. Upon request, each party will provide the other party with a certificate of insurance from its insurers evidencing such insurance. 
  
 12. USE OF NAMES 
  
 Each party agrees not to use or reference the name of the other party, or the other party’s logos or trademarks in any
advertising, sales promotion, press release or other communication relating to this Agreement without obtaining such party’s prior written consent. Notwithstanding the foregoing, a party may use or reference such information to the extent
reasonably necessary for (a) regulatory filings, including filings with the U.S. Securities Exchange Commission and Regulatory Authorities, (b) prosecuting or defending litigation, or (c) complying with applicable governmental regulations and legal
requirements. 
  
 13. CONFIDENTIAL INFORMATION 
  
 13.1 Confidentiality. Except to the extent expressly authorized by
this Agreement or otherwise agreed to in writing by the parties, each party agrees that, for the term of this Agreement and for [*] years thereafter, it shall keep confidential and shall not publish or otherwise disclose and shall not use for
any purpose other than as provided for in this Agreement any Confidential Information furnished to it by the other party pursuant to this Agreement, except that the foregoing shall not apply to any information for which the receiving party can
demonstrate, by competent proof: 
  
 (a) was already known
to the receiving party, other than under an obligation of confidentiality, at the time of disclosure by the other party; 
  

 -25- 
  
 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 (b) was generally available to the public or otherwise part of the public domain at the time of
its disclosure to the receiving party; 
  
 (c) later became
part of the public domain through no act or omission of the receiving party; 
  
 (d) was disclosed to the receiving party, other than under an obligation of confidentiality to a Third Party, by a Third Party who had no obligation to the disclosing party not to disclose such information to
others. 
  
 13.2 Authorized Disclosure. Each party may
disclose the other party’s Confidential Information to the extent such disclosure is reasonably necessary for the following reasons: 
  
 (a) regulatory filings, including filings with the U.S. Securities Exchange Commission and Regulatory Authorities; 
  
 (b) prosecuting or defending litigation; 
  
 (c) complying with applicable governmental regulations and legal
requirements; and 
  
 (d) disclosure to potential
sublicensees and potential investors who agree in writing to be bound by similar terms of confidentiality. 
  
 Notwithstanding the foregoing, in the event a party is required to make a disclosure of the other party’s Confidential Information pursuant to this Section 13.2 it will, except where impracticable, give
reasonable advance notice to the other party of such disclosure and use best efforts to secure confidential treatment of such information. In any event, the parties agree to take all reasonable actions to avoid any unauthorized use or disclosure of
Confidential Information hereunder. 
  
 13.3 Employees;
Agents. Each party shall ensure that each of its Affiliates and sublicensees, and each employee, director, officer, consultant, or other agent of it, or of its Affiliates or sublicensees (collectively “Agents”), who has access to
Confidential Information is bound to obligations of confidentiality and non-use substantially similar in scope to those set forth in Section 13.1 and shall indemnify the other party for any breach hereunder by any of its Agents. Each party agrees
that any disclosure or distribution of the other party’s Confidential Information within its own organization shall be made only as is reasonably necessary to carry out the intent of this Agreement. 
  

 -26- 
  
 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 13.4 Injunctive Relief. The parties expressly acknowledge and agree that any breach or threatened
breach of Section 13.1 may cause immediate and irreparable harm to the disclosing party which may not be adequately compensated by damages. Each party therefore agrees that in the event of such breach or threatened breach and in addition to any
remedies available at law, the disclosing party shall have the right to secure equitable and injunctive relief, without bond, in connection with such a breach or threatened breach. 
  
 13.5 Terms of Agreement. Subject to the foregoing provisions of this Section 13, the parties agree that the terms of
this Agreement are confidential and shall not be disclosed by either party to any Third Party (except to a party’s professional advisor) without advance written permission of the other party, provided that either party may make any filings of
this Agreement required by law or regulation in any country so long as such party uses its reasonable efforts to obtain confidential treatment for portions of this Agreement as available, consults with the other party, and permits the other party to
participate, to the extent practicable, in seeking a protective order or other confidential treatment, and further provided that either party may disclose the terms of this Agreement to a Third Party (and its professional advisors) when such
disclosure is reasonably necessary in connection with (a) the grant of a license or sublicense to such Third Party, (b) prosecuting or defending litigation, (c) a merger, acquisition, placement, investment, or other such transaction with such Third
Party, or (d) the sale of securities to or other financing from such Third Party or a financing underwritten by such Third Party, in which case disclosure may be made to any person or entity to whom such Third Party sells such securities (and its
professional advisers). Advance written permission for disclosure will not be required when a party is ordered to disclose information concerning the Agreement by a competent tribunal or such disclosures are required by law, regulation, or stock
exchange rules, except that such party shall make all reasonable efforts to limit any disclosure as may be required in the course of legal proceedings by entry of an appropriate protective and confidentiality order, and shall provide the other party
with as much advance notice of such circumstances as is reasonably practical. 
  
 14. MISCELLANEOUS 
  
 14.1 Notices. Any
notice, request, instruction or other document required or permitted to be given under this Agreement shall be in writing and shall be deemed to have been given (a) if mailed with the United States Postal Service by prepaid, first class, certified
mail, return receipt requested, at the time of receipt by the intended recipient, (b) if sent by Federal Express, Airborne, or other overnight carrier, signature of delivery required, at the time of receipt by the intended recipient, (c) if sent by
facsimile transmission, when so sent and when receipt has been acknowledged by appropriate telephone or facsimile receipt, or (d) if hand-delivered, at the time of receipt by the intended recipient, addressed as follows: 
  

 -27- 
  
 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 In the case of Phytogen: 
  
 Phytogen International LLC 
 First Floor, Unit 41, 
 The Business Centre, 
 Stadium Business Park, 
 Ballycoolin, Dublin 11, 
 Ireland. 
 Attn: President 
 Fax: 011-353-1-8829712 
  
 or in the case of Conor to: 
  
 Conor Medsystems, Inc. 
 1360 Willow Road, 2nd Floor 
 Menlo Park, CA 94025 
 Attn: President 
 Fax: (650) 614-4125 
  
 or to such other address or to such other
person(s) as may be specified by a party in writing in under the terms of this Section 14.1. 
  
 14.2 Compliance with Laws. Each party shall comply with all applicable federal, state and local laws and regulations in connection with its activities pursuant to this Agreement. 
  
 14.3 Governing Law. This Agreement shall be construed and enforced in
accordance with the laws of the State of California. The parties agree that any claim or controversy arising out of or related to this Agreement or any breach hereof shall be submitted to a court of applicable jurisdiction in San Francisco County,
California, and each party hereby consents to the jurisdiction and venue of such court. Notwithstanding the foregoing, either party may seek injunctive relief in any court where appropriate. 
  
 14.4 Dispute Resolution. In the event of any controversy or claim
relating to, arising out of or in any way connected to any provision of this Agreement (a “Dispute”), either Party may, by notice to the other Party, have such dispute referred to their respective senior officials designated below or their
successors, for attempted resolution by good faith negotiations within [*] days after such notice is received. Said designated employees are as follows: 
  

For Conor:      CEO, or his designee 
  

For Phytogen: CEO, or his designee 
  
 Any Dispute that is not resolved pursuant to this Section 14.4 shall be finally resolved by final and binding arbitration. Whenever a party shall decide
to institute arbitration proceedings, it shall give writing notice to that effect to the other Party. The Party giving such notice shall refrain from instituting the arbitration proceedings for a period of [*] days following such notice

  

 -28- 
  
 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 to allow the Parties to attempt to resolve the dispute between themselves. If the Parties are still unable to resolve the
dispute, the Party giving notice may institute the arbitration proceeding under the rules of the American Arbitration Association (“AAA Rules”). Arbitration shall exclusively and solely be held in San Francisco, California. The arbitration
shall be conducted before a single arbitrator mutually chosen by the parties, but if the parties have not agreed upon a single arbitrator within [*] days after notice of the institution of the arbitration proceeding, then the arbitration will
be conducted by a panel of three arbitrators. In such case, each party shall within [*] days after notice of the institution of the arbitration proceedings appoint one arbitrator. The presiding arbitrator shall then be appointed in accordance
with AAA Rules. No arbitrator (nor the panel of arbitrators) shall have the power to award punitive damages or any award of multiple damages under this Agreement and such awards are expressly prohibited. Decisions of the arbitrator(s) shall be final
and binding on the parties. Notwithstanding the foregoing any matters relating to injunctive or equitable relief shall be determined in courts of law. Except to the extent entry of judgment and any subsequent enforcement may require disclosure, all
matters relating to the arbitration, including the award, shall be held in confidence by the Parties. 
  
 14.5 No Waiver. Failure of any party to enforce a right under this Agreement shall not act as a waiver of that right or the ability to assert that
right unless such party has signed an express written waiver as to a particular matter for a particular period of time. 
  
 14.6 Severability. If any provision of this Agreement shall be found by a court of competent jurisdiction to be void, invalid or unenforceable, the
provision shall be considered severed from this Agreement and shall not affect the validity or enforceability of the remainder of this Agreement. The parties shall make a good faith effort to replace any invalid or unenforceable provision with a
valid and enforceable one such that the objectives contemplated by the parties when entering this Agreement may be realized. 
  
 14.7 Modification. No change, modification, addition or amendment to this Agreement is valid or enforceable unless in writing and signed and dated
by the authorized officers of the parties to this Agreement. 
  
 14.8 Entire Agreement. This Agreement and the Exhibit hereto constitute the entire agreement between the parties and replace and supersede as of the Effective Date any and all prior agreements and understandings, whether oral or
written, between the parties with respect to the subject matter hereof, including the Confidential Disclosure Agreement. 
  
 14.9 Successors. Except as otherwise expressly provided in this Agreement, this Agreement shall be binding upon, inures to the benefit of, and is
enforceable by, the parties and their respective heirs, legal representatives, successors and permitted assigns. 
  
 14.10 Construction. This Agreement has been prepared, examined, negotiated and revised by each party and their respective attorneys, and no
implication shall be drawn and no provision shall be construed against any party to this Agreement by virtue of the purported identity of the drafter of this Agreement or any portion thereof. 
  

 -29- 
  
 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 14.11 Counterparts. This Agreement may be executed simultaneously in one or more counterparts,
each of which shall constitute one and the same instrument. 
  
 14.12 Attorneys’ Fees. In the event of any action at law or in equity between the parties hereto to enforce any of the provisions hereof, the non-prevailing party to such litigation shall pay to the prevailing party all
reasonable costs and expenses, including reasonable attorneys’ fees, incurred therein by such prevailing party; and if such prevailing party recovers a judgment in any such action or proceeding, such reasonable costs, expenses and
attorneys’ fees may be included in and as part of such judgment. 
  
 14.13 Assignment. This Agreement shall be binding upon and shall inure to the benefit of Phytogen and Conor, and their successors and assigns. Neither party shall assign their respective rights under this Agreement without the prior
written consent of the other party. Notwithstanding the foregoing, no such consent shall be required for either party to assign this Agreement (i) to an Affiliate provided the party to this Agreement continues to be liable for all obligations
hereunder, or (ii) in connection with a merger or sale of all or substantially all of the assets of such party covered by this Agreement, provided in the case of (i) and (ii) the successor or assignee assumes all liabilities hereunder. 

 
 14.14 Further Assurances. Each party shall do, execute, acknowledge
and deliver, and cause to be done, executed, acknowledged or delivered, all such further acts, transfers, conveyances, assignments or assurances as may be reasonably required to consummate the transactions contemplated by this Agreement. 

 
 14.15 Press Release. Within [*] of the effective date of
this Agreement, the parties shall issue a joint press release that highlights the important elements of this Agreement and the benefits of the collaboration to both parties. 
  
 14.16 Force Majeure. Both parties shall be excused from the performance of their obligations under this Agreement to
the extent that such performance is prevented by force majeure and the nonperforming Party promptly provides notice of the prevention to the other party. Such excuse shall be continued so long as the condition constituting force majeure continues
and the nonperforming party takes reasonable efforts to remove the condition. For purposes of this Agreement, force majeure shall include conditions beyond the reasonable control of the parties, including without limitation, an act of God, war,
civil commotion, terrorist act, labor strike or lock-out, epidemic, failure or default of public utilities or common carriers, destruction of production facilities or materials by fire, earthquake, storm or like catastrophe, and failure of plant or
machinery (provided that such failure could not have been prevented by the exercise of skill, diligence, and prudence that would be reasonably and ordinarily expected from a skilled and experienced person engaged in the same type of undertaking
under the same or similar circumstances). 
  
 14.17 Independent
Contractors. Each party shall act solely as an independent contractor, and nothing in this Agreement shall be construed to give either party the power or authority to act for, bind or commit the other party in any way. Nothing herein shall be
construed to create the relationship of partnership, principal and agent or joint venture between the parties. 
  

 -30- 
  
 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 IN WITNESS WHEREOF, the parties have caused their duly authorized representatives to execute this
Agreement as of the Effective Date. 
  

							
	PHYTOGEN INTERNATIONAL LLC	 	CONOR MEDSYSTEMS, INC.
				
	 By:
	 	 /s/ Hai S. Foo

	 	 By:
	 	 /s/ Michael Boennighausen

	 	 	 Hai S. Foo
	 	 	 	 Michael Boennighausen

	 Title:
	 	 President and Manager
	 	 Title:
	 	 
				
	 Date:
	 	 February 27, 2003
	 	 Date:
	 	 April 4, 2003

				
	 By:
	 	 /s/ Daniel M. McGing

	 	 	 	 
	 	 	 Daniel M. McGing
	 	 	 	 
	 Title:
	 	 Secretary and Manager
	 	 	 	 
	 Date:
	 	 February 27, 2003
	 	 	 	 

  

 -31- 
  
 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 EXHIBIT A 
  

PRODUCT SPECIFICATIONS 
  
 [*] 
  

 -32- 
  
 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED. 

 EXHIBIT B 
  

[*] 
  

 -33- 
  
 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,
MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT
OF 1933, AS AMENDED.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00072-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00072-of-00352.parquet"}]]