Document:

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                                                                    Exhibit 10.6

          Confidential Materials omitted and filed separately with the
         Securities and Exchange Commission. Asterisks denote omissions.

                                SHELTER AGREEMENT

     THIS AGREEMENT is entered into as of the 1st day of March 2007, by and
between, on the one hand, NxStage Medical, Inc., a Delaware corporation whose
mailing address is 439 S. Union Street, 5th Floor, Lawrence, Massachusetts
("CLIENT"), and, on the other hand, Entrada Partners, a Texas limited
partnership, whose mailing address is 236 Castano Avenue, San Antonio, Texas
78209 ("ENTRADA") and Entrada Group de Mexico, S. de R.L. de C.V., a Mexican
variable capital limited liability company whose mailing address is Carreterra
Fresnillo Plateros Km 2 S/N, Parque Industrial Fresnillo, Fresnillo, Zacatecas
("ENTRADA MEXICO").

RECITALS:

     Entrada and Entrada Mexico provide services to manufacturing clients under
Entrada Mexico's shelter program. As part of the shelter program, Entrada Mexico
provides a workforce, facilities and related services in Fresnillo, Zacatecas,
Mexico in order to manufacture or assemble each client's products.

     CLIENT produces medical devices (the "PRODUCTS"), and would like to enter
into a business arrangement with Entrada and Entrada Mexico to obtain the
benefits of a Mexico manufacturing operation.

     CLIENT wishes to engage Entrada and Entrada Mexico to provide their Shelter
Program Services (as such term is defined below) to CLIENT, and Entrada and
Entrada Mexico are willing to provide such Shelter Program Services to CLIENT on
the terms set forth herein.

     NOW, THEREFORE, for good and valuable consideration, the parties agree as
follows:

AGREEMENTS:

1) Shelter Program Services. Entrada agrees to provide or arrange for Entrada
Mexico to provide the Shelter Program Services for CLIENT's operations at the
Facility, as hereinafter defined, pursuant to the following:

     a) Workforce. Entrada and Entrada Mexico represent and warrant that Entrada
     Mexico has a collective bargaining agreement with a union with which it has
     an excellent relationship, that the right of such union to be the party to
     the collective bargaining agreement with Entrada Mexico has been challenged
     by another union, that such challenge is completely without merit, and that
     it will be dismissed without in any way affecting CLIENT's operations.

     Entrada will arrange for the provision of a workforce (the "WORKFORCE") in
     the numbers and in the categories that CLIENT deems necessary to carry on
     export-oriented maquila shelter (albergue) activities for CLIENT's
     manufacture or assembly of its Products as follows:

          (i) Entrada agrees to exert its best efforts to provide, through
          Entrada Mexico or another entity that, directly or indirectly, is
          totally controlled by Entrada ("AFFILIATE"), candidates to hire to
          produce the Products on behalf of CLIENT. The candidates shall be
          recruited and hired by Entrada Mexico pursuant to the worker profiles
          provided by CLIENT. Without prejudice to Entrada Mexico's obligations
          as employer of the Workforce, as between Entrada Mexico and CLIENT,
          CLIENT will have direct supervisory control and management
          responsibility for all Workers.

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          (ii) CLIENT will have the right to select from the candidates
          recruited by Entrada Mexico or an Affiliate, those candidates that
          best meet CLIENT's profile for non-salaried workers. The Workforce
          will include production line workers, material handlers, group
          leaders, and inspectors. In addition to the foregoing Workforce
          personnel, Entrada, Entrada Mexico or an Affiliate will recruit and
          hire salaried workers pursuant to the profiles therefor provided by
          CLIENT.

          (iii) Without prejudice to Entrada Mexico's obligations as employer of
          the Workforce, as between Entrada Mexico and CLIENT, CLIENT will have
          the full responsibility to train and supervise the candidates accepted
          by CLIENT as part of the Workforce (each such accepted and retained
          candidate, whether non-salaried or salaried, is referred to as a
          "WORKER") pursuant to the legal provisions in effect in Mexico,
          provided that, without limiting Entrada Mexico's obligations set forth
          in (v) below, Entrada Mexico will notify CLIENT's management orally,
          and when reasonably possible in writing, of all material applicable
          legal requirements related to such training and supervision.

          (iv) Under no circumstances shall Entrada or Entrada Mexico terminate
          any Worker without the prior participation, knowledge or express
          written authorization from CLIENT. Entrada and Entrada Mexico assume
          any and all liabilities, and will bear the cost resulting from a
          Worker termination that occurs without the prior participation,
          knowledge or express written authorization from CLIENT.

          (v) Entrada Mexico shall be responsible, to CLIENT's exclusion, for
          complying with all labor related obligations to the Workers, including
          those arising from the Federal Labor Law, Social Security Law,
          Worker's Housing National Fund Institute Law, and any other applicable
          contractual or legal provisions. Entrada Mexico shall save CLIENT
          harmless from any claims that the Workers might file for causes
          attributable to Entrada Mexico (except if Entrada Mexico reasonably
          acts pursuant to CLIENT's instructions).

     b) Facility. The parties agree that the manufacture or assembly of CLIENT's
     Products will be initially conducted in approximately 15,000 square foot
     space which is part of a larger building (the "SHARED OCCUPANCY BUILDING")
     leased by Entrada Group de Mexico from Grupo Profrezac S.A. under terms and
     conditions that Entrada represents are substantially similar to, but not
     less favorable to Entrada Mexico (other than with respect to the term of
     the lease) than, those in the document hereto attached as Exhibit "A-2."
     Entrada Mexico will move CLIENT's operations, when completed, into a new,
     approximately 35,000 square foot manufacturing space which is part of a
     larger building (such manufacturing space, the "FIRST NEW BUILDING") that
     is being developed and is owned by Inmuebles Arizac II S.R.L. ("INMUEBLES
     ARIZAC"). For as long as and to the extent CLIENT's operations for the
     manufacture or assembly of CLIENT's Products ("PRODUCTION OPERATIONS") are
     conducted in the Shared Occupancy Building, the First New Building or the
     Second New Building, as hereinafter defined, or in any other building
     mentioned herein, each and every such building in which such operations are
     conducted are referred to herein, jointly and severally, as a "Facility."
     The terms and conditions of use of the Facility are more fully described in
     Exhibit "A" attached hereto and incorporated herein.

          (i) Arrangements for the First New Building. Entrada Mexico, as part
          of this Agreement, will enter into a lease with Inmuebles Arizac for
          the First New Building at the location described in Exhibit A-1 and
          pursuant to specifications approved in writing, in advance, by CLIENT.
          The construction of the First New Building, which will be

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          completed in no more than [**] months from the date of execution of
          this Agreement (the "CONSTRUCTION PERIOD"), will comply with the
          construction standards of the Fresnillo Industrial Park, where the
          First New Building will be located.

          (ii) Delayed Construction of the First New Building. Entrada will pay
          to CLIENT $[**] (U.S. Dollars) for each day that completion of
          construction of the First New Building is delayed beyond the [**]
          month Construction Period, unless such delay is a Justified Delay. As
          used herein, the term "JUSTIFIED DELAY" means a delay in the
          construction of the First New Building due to: (a) any circumstance
          beyond the reasonable control of Entrada, Entrada Mexico, the relevant
          Affiliate, or their subcontractors, (b) an act of God, or (c) force
          majeure. The [**] month term of the Construction Period shall be
          extended by the number of days that each Justified Delay continues.

          (iii) Environmental Assessment. Attached hereto as Exhibit "A-3" is a
          Phase 1 environmental study showing that the Facility and the real
          property on which it is located are free from contamination.

          (iv) Second New Building. At any time within twelve (12) months after
          the date of execution of this Agreement, CLIENT may request Entrada to
          arrange for the construction of an additional building of at least
          35,000 square feet of manufacturing space (such manufacturing space,
          the "SECOND NEW BUILDING") for use as an additional facility for
          manufacture or assembly of CLIENT's Products. The Second New Building
          will be located adjacent to, but not more than 30 feet from the South
          wall of, the First New Building, and will have a floor plan and site
          plan substantially similar to the ones referenced in Exhibit "A."

          (v) Construction Arrangements for the Second New Building. Unless
          otherwise agreed by the parties in writing, the construction of the
          Second New Building shall commence within [**] days of CLIENT's
          requesting Entrada to arrange for its construction. Entrada commits to
          substantially complete the interior of the building within [**] months
          and to substantially complete the building within [**] months after
          such commencement. (the "SECOND NEW BUILDING CONSTRUCTION PERIOD").

          (vi) Delayed Construction of the Second New Building. Entrada will pay
          to CLIENT $[**] (U.S. Dollars) for each day that completion of
          construction of the Second New Building is delayed beyond the time
          periods specified in (a) above, unless such delay is a Justified
          Delay. The time periods stated in (a) above shall be extended by the
          number of days that each Justified Delay continues.

          (vii) Facility Leasing Arrangements. The First New Building will be
          leased from a third party (the "FIRST NEW BUILDING LANDLORD") by
          Entrada Mexico or an Affiliate pursuant to a lease arrangement (the
          "FIRST NEW BUILDING LEASE"). The Second New Building, if constructed,
          will be leased from a third party (the "SECOND NEW BUILDING LANDLORD")
          by Entrada Mexico or an Affiliate pursuant to a lease arrangement (the
          "SECOND NEW BUILDING LEASE").The terms and conditions of the First New
          Building Lease and, if applicable, the Second New Building Lease shall
          be substantially the same, in form and substance, to the document
          hereto attached as Exhibit "A-2." For as long as and to the extent
          CLIENT's operations are conducted in the Shared Occupancy Building,
          the First New Building or the Second New Building, as hereinafter
          defined, the leasing arrangement for each will be a "Lease," as such
          term is used herein.

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          (viii) Damage to Facility. If (a) the Facility is damaged as a result
          of any cause not attributable to CLIENT, and (b) such damage halts all
          operations for the manufacture or assembly of CLIENT's Products at the
          Facility for more than [**] consecutive business days (the "PRODUCTION
          INTERRUPTION GRACE PERIOD"), the following provisions will apply:

               (1) Single Building Facility. If CLIENT's Production Operations
               are conducted hereunder in only one building at the time of the
               damage, the following provisions will apply:

                         (A) If the owner of such building (the "LANDLORD")
                    elects, within [**] days after the date of the damage, to
                    repair such damage, Entrada will provide CLIENT with up to
                    [**] square feet of production space in another building in
                    Fresnillo for a period of up to [**] months on terms
                    substantially similar to those contained in Exhibit "A"
                    hereof for the damaged building.

                              If the Landlord fails to complete the repair of
                    the damaged Facility building within 120 days after the date
                    of damage, CLIENT will be entitled to terminate this
                    Agreement by giving written termination notice to Entrada.
                    Upon the effective date of such termination notice, CLIENT
                    will have no further liability under this Agreement except
                    to pay amounts and to perform obligations that have accrued
                    and are due as of the date on which CLIENT gives such
                    termination notice.

                    (B) If the Landlord fails to elect, within [**] days after
                    the date of the damage, to repair such damage (or elects not
                    to do so), CLIENT will be entitled to terminate this
                    Agreement by giving written termination notice to Entrada.
                    Upon giving such termination notice, CLIENT will have no
                    further liability under this Agreement except to pay amounts
                    and to perform obligations that have accrued and are due as
                    of the date on which CLIENT gives such termination notice.

                    (C) During the period that CLIENT cannot carry out the
                    Production Operations at the damaged Facility, CLIENT will
                    not be required to pay the Facility Fee (as such term is
                    defined in Exhibit A) for that Facility.

                    (D) Entrada will notify CLIENT of Landlord's elections
                    mentioned in (viii)(1)(A) and (viii)(1)(B) immediately
                    above, or failure to so elect, within one business day from
                    the date that Landlord communicates its elections to Entrada
                    or Entrada Mexico, or, if Landlord fails to elect, on the
                    thirty-first day after the date of the damage.

                         (2) Multiple Building Facility. If CLIENT's Production
               Operations are conducted hereunder in more than one building at
               the time of the damage, CLIENT's Production Operations will be
               conducted in the remaining building of the Facility and this
               Agreement will continue in effect. If the Landlord elects to
               repair the damaged building, CLIENT's Production Operations will
               be resumed in the repaired building if and when such repair is
               completed and the building is ready for occupancy.

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                    (A) If the Landlord elects to repair such damage but fails
                    to complete the repair of the damaged Facility building
                    within 120 days after the date of damage, CLIENT will be
                    entitled to terminate the effect of this Agreement with
                    respect to the damaged building only, by giving written
                    notice thereof to Entrada. Upon the date such notice is
                    given, CLIENT will have no further liability under this
                    Agreement with respect to the damaged building, except to
                    pay amounts and to perform obligations that have accrued and
                    are due as of the date on which CLIENT gives such notice. In
                    this case, the Facility Fee payable by CLIENT with respect
                    to the damaged building will terminate upon the date such
                    notice is given.

                    (B) If the Landlord fails to elect, within [**] days after
                    the date of the damage, to repair such damage (or elects not
                    to do so), CLIENT will be entitled to terminate the effect
                    of this Agreement with respect to the damaged building only,
                    by giving written notice thereof to Entrada. Upon the date
                    such notice is given, CLIENT will have no further liability
                    under this Agreement with respect to the damaged building,
                    except to pay amounts and to perform obligations that have
                    accrued and are due as of the date on which CLIENT gives
                    such notice. In this case, the Facility Fee payable by
                    CLIENT with respect to the damaged building will terminate
                    upon the date such notice is given.

                    (C) During the period that CLIENT cannot carry out the
                    Production Operations at the damaged building, CLIENT will
                    not be required to pay the Facility Fee for that building.

                    (D) Entrada will notify CLIENT of Landlord's elections
                    mentioned in (viii)(2)(A) and (viii)(2)(B) immediately
                    above, or failure to so elect, within one business day from
                    the date that Landlord communicates its elections to Entrada
                    or Entrada Mexico, or, if Landlord fails to elect, on the
                    thirty-first day after the date of the damage.

                    (E) If damage to all buildings comprising the Facility
                    (referred to in the next sentence only, as the "damaged
                    buildings") in which CLIENT's Production Operations are
                    conducted hereunder prevents CLIENT from conducting its
                    Production Operations in all such buildings, Entrada and
                    CLIENT will make their best efforts in good faith to locate
                    and enter into, as soon as possible, a mutually-acceptable
                    leasing arrangement for an alternative location (the
                    "Alternative Site") into which to move and conduct the
                    Production Operations. If Entrada and CLIENT are unable to
                    so locate or lease an Alternative Site, CLIENT will be
                    entitled to terminate this Agreement by giving written
                    termination notice to Entrada. Upon giving such termination
                    notice, CLIENT's sole liability under this Agreement will be
                    to (a) pay amounts and to perform obligations that have
                    accrued and are due as of the date on which CLIENT gives
                    such termination notice, and (b) pay [**] percent ([**]%) of
                    the Facility Fee that would be applicable hereunder to the
                    damaged buildings had such damage not occurred, for the
                    lesser of: (i) six (6) months, or (ii) the period from the
                    date on which the repair of each such damaged building is
                    complete to the date on which such damaged building is
                    re-let.

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          (ix) Condition Report. Entrada will provide to CLIENT as soon as
          practicable a photographic report, signed by Entrada, of the Facility
          and the real property on which the Facility is located, showing the
          condition thereof at the time of delivery for use for CLIENT's
          Production Operations.

     c) Import/Export. Entrada and Entrada Mexico will be responsible for
     managing the services set forth in Exhibit "B" (the "IMPORT/EXPORT
     SERVICES"). The cost of the Import/Export Services will be passed through
     to CLIENT by Entrada, without any additional mark-up except as noted in
     subclauses (i) and (ii) below. For purposes of this Agreement,
     Import/Export Services do not include services provided to or for CLIENT by
     its own U.S. Customs Broker.

          (i) United States Customs and Duties. CLIENT will retain title to all
          of its Materials, Products, and Equipment, each as defined herein,
          that are used in connection with its operations hereunder or located,
          at any time, at the Facility. For purposes of U.S. Customs, CLIENT
          will be the "importer and exporter of record," and will contract
          directly with the U.S. Customs Broker to be its agent for U.S.
          Customs' purposes and CLIENT will be responsible for compliance as
          well as the payment of all U.S. tariffs, duties, bonds, U.S. Customs
          Broker's charges and all other charges or exactions involved in the
          U.S. import and export process. In order to move goods across the
          U.S.-Mexico border expeditiously, CLIENT may be required to maintain
          with the U.S. Customs Broker a reasonable deposit to cover expected
          duties and charges. CLIENT will be responsible for supplying all
          information, including cost submissions, required by U.S. Customs in
          connection with the importation of foreign products into the U.S.
          CLIENT will also be responsible for supplying to Entrada, on a timely
          basis, the commercial invoice and all other documents required as part
          of the import and export process. In view of Entrada's reliance on
          data supplied by CLIENT, CLIENT agrees to indemnify and hold Entrada
          harmless against all, loss, damage, costs (including, without
          limitation, reasonable attorneys' fees), and liabilities (including,
          without limitation, assessments, fines or penalties, whether imposed
          by the U.S. Customs Service or otherwise) arising or resulting from
          the entry of CLIENT's Products into the U.S. Likewise, Entrada and
          Entrada Mexico agree to indemnify and hold CLIENT harmless against
          all, loss, damage, costs (including, without limitation, reasonable
          attorneys' fees), and liabilities (including, without limitation,
          assessments, fines or penalties, whether imposed by the U.S. Customs
          Service or otherwise) arising or resulting from negligence or willful
          misconduct directly attributable to Entrada and/or Entrada Mexico.

          (ii) Mexican Customs and Duties. Entrada Mexico shall be "importer and
          exporter of record" for Mexican customs purposes and shall comply with
          all record keeping and reporting obligations set forth by law.
          Provided CLIENT supplies all necessary information, Entrada Mexico
          shall obtain all necessary licenses and permits to import CLIENT's
          materials, supplies, equipment and tooling into Mexico under Entrada
          Mexico's Maquiladora Program. CLIENT shall be responsible for any cost
          incurred for bonds, Mexican duties, tariffs, fees, government
          processing fees, countervailing duties, if applicable, other import
          costs and Mexican Customhouse brokerage fees associated with shipment
          of CLIENT's goods. Entrada will contract or will cause Entrada Mexico
          to contract with a qualified Mexican Customs Broker to be its agent
          for Mexican Custom's purposes. Entrada and Entrada Mexico agree to
          undertake all necessary actions before the Mexican Customs authorities
          to obtain the clearance through Mexican Customs of (A) the importation
          of CLIENT's Materials, as hereinafter defined, parts, components and
          any other required inputs (all items imported into Mexico are referred
          to, jointly and severally, as the "INPUTS"), as well as machinery and
          equipment (collectively the

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          "EQUIPMENT"), and (B) the exportation from Mexico of CLIENT's finished
          Products, Equipment and other items. CLIENT understands and agrees
          that, in order for Entrada or Entrada Mexico to be able to fulfill its
          obligations to process the shipments and obtain the necessary permits
          on behalf of CLIENT under this clause (ii), CLIENT must supply
          Entrada, on a timely basis, with all pertinent information and
          documentation of all items to be imported or exported through Mexican
          Customs, including, without limitation, complete descriptions, makes,
          models, serial numbers, weights, costs, country of origin and
          certificates of origin. CLIENT acknowledges that (X) it typically
          takes approximately thirty (30) days to obtain the initial Mexican
          permits from the time the completed submission of the appropriate
          application, and (Y) until such permit has been approved, CLIENT's
          Materials, Equipment and other property may not be imported into
          Mexico. Special permits needed to meet CLIENT's specific requirements
          may take a longer period of time and will be obtained at CLIENT's
          cost.

          CLIENT will pay, promptly when due, all Mexican customs tariffs,
          duties, value-added tax, countervailing duties, if any, customs
          processing fees, fines, bonds, costs of compliance with applicable
          non-duty restrictions and barriers, and Mexican customs brokerage
          charges (collectively, the "MEXICAN DUTIES") that may arise in respect
          of the import and export activities referred to herein. CLIENT
          specifically agrees to pay all Mexican Duties that (A) may become
          payable in the future with respect to Inputs imported into Mexico that
          are subsequently exported to the United States, whether or not
          incorporated into Products, and (B) relate to Inputs or Equipment that
          undergo a change of customs regime in Mexico. CLIENT will be
          responsible for providing to Entrada all information and
          documentation, including U.S. import declarations, that may be
          required in order to calculate the amounts of such Mexican Duties.
          Entrada Mexico agrees to file for and secure any Mexican import
          license, permit or authorization that allows it to import any
          materials, supplies equipment and machinery or, in general, any good
          on a duty free basis, if applicable, depending on the origin of such
          materials, supplies, equipment and machinery or under the lowest
          available duty rate, such as under the North American Free Trade
          Agreement or other international trade agreements executed by Mexico,
          or the "Programas de Promocion Sectorial." If a "Regla Octava"
          authorization were necessary to achieve the above considering the
          property, the importation of which is necessary for CLIENT's
          Production Operations, Entrada and CLIENT will mutually agree on how
          to apply and manage the related process and costs. Also, Entrada
          Mexico with the information in this regard that shall be requested by
          Entrada or Entrada Mexico and furnished by CLIENT, shall maintain all
          records that substantiate the information contained in the documents
          required in connection with the importation and/or exportation of
          CLIENT's goods, in accordance with the terms, conditions and time
          limits required by applicable laws and sufficiently detailed as
          provided by law to permit Mexican Customs authorities to perform their
          duties, including customs audits. Any fine or penalty imposed by the
          Mexican authorities that derive from an inspection, review, audit or,
          in general, any other action taken by the Mexican government in
          connection with the above, will be the sole responsibility of Entrada
          and Entrada Mexico, unless the fine or penalty relates to any
          violation of the law that is attributable to CLIENT's failure to
          comply with Entrada's instructions, in which case CLIENT shall pay
          such fine or penalty or reimburse to Entrada or Entrada Mexico any
          payment that the Mexican government imposes on Entrada or Entrada
          Mexico.

          (iii) Equipment. Contemporaneously with the execution of this
          Agreement, CLIENT, Entrada and Entrada Mexico shall execute a
          "Commodatum Agreement" substantially in the form and with the content
          set forth in Exhibit "H" with respect to the Equipment that

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          CLIENT sends to the Facility. Entrada Mexico will file for recordation
          the Commodatum Agreement in the Public Registry of Property and
          Commerce of Fresnillo, Zacatecas, Mexico, within ten (10) days of its
          execution, to establish the ownership of CLIENT, and all governmental
          fees and costs shall be paid by CLIENT.

          In addition, Entrada and Entrada Mexico agree to insert or stamp in
          all customs invoices to be used by Entrada Mexico for the importation
          of the equipment, tools, raw materials, supplies and other goods
          furnished by CLIENT into Mexico, the following legend "This commercial
          invoice is issued exclusively for customs purposes in order to import
          into Mexico the goods covered by the same and therefore does not
          transfer ownership of the goods."

          Upon CLIENT's written request for the return of machinery and/or
          equipment covered by the Commodatum Agreement, Entrada and Entrada
          Mexico shall undertake to obtain appropriate governmental clearance
          and documentation for the return of the machinery and/or equipment to
          the address the CLIENT designates. Any costs and related expenses of
          said governmental clearances, insurance and of transportation will be
          paid by CLIENT.

          (iv) On site Seminar. Entrada will provide CLIENT, at CLIENT's
          location, a [**] seminar on the principles and procedures of the
          U.S.-Mexico import/export process. The seminar is intended for senior
          management and for persons involved in the CLIENT's day-to-day
          import/export activity pertinent to this Agreement. In addition,
          CLIENT will be provided an Entrada Import/Export Manual.

     d) Permits. Entrada, through Entrada Mexico, will be responsible for
     obtaining all facility and environmental related permits, licenses and
     approvals required by Mexican law including but not limited to Municipal
     Operating License, Maquila related permits and registrations (collectively
     "FACILITY PERMITS") required to manufacture, store, ship and/or assemble
     CLIENT's Products in the Facility. CLIENT shall reimburse Entrada all fees
     paid for Facility Permits. Any fine or penalty imposed by the Mexican
     government to Entrada Mexico for not having any of the Facility Permits
     will be the sole responsibility of Entrada and/or Entrada Mexico. Also,
     Entrada and/or Entrada Mexico agree to indemnify CLIENT for any damage
     caused as a consequence of any fine or penalty imposed or if the Mexican
     government determines to, due to the conduct of Entrada Mexico, close,
     permanently or temporarily, the Facility, unless the fine or penalty is
     attributable to CLIENT's failure to comply with Entrada's instructions, in
     which case the fine or penalty shall be paid by CLIENT or reimbursed to
     Entrada or Entrada Mexico in case the Mexican government imposed the fine
     or penalty to Entrada or Entrada Mexico.

     e) Procurement in Mexico. Entrada will provide to CLIENT a list of
     preferred suppliers in the Fresnillo/Zacatecas region for maintenance,
     repair and operational needs ("MRO"). Entrada will advise CLIENT on issues
     related to MRO sourcing and purchasing, if requested. CLIENT will be
     responsible for quoting and placing its own MRO orders. Entrada will
     administer all accounts payable related to CLIENT's MRO purchases, and will
     provide a pick-up and delivery service for same, as requested. The
     guidelines for the procurement services are fully described in Procurement
     in Mexico, attached hereto as Exhibit "E" and incorporated herein.

2) Certain Responsibilities of CLIENT. CLIENT agrees that it will have sole
responsibility to do the following:

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     a) Materials and Technology. CLIENT will provide the following items that
     are necessary or appropriate for its operations at the Facility: (i) all
     raw materials, parts, components, production supplies, packaging materials
     (collectively, the "MATERIALS"), (ii) all Equipment necessary or
     appropriate for the manufacture or assembly of the Products at the
     Facility, and (iii) the technology and technical assistance necessary to
     enable the Workforce to manufacture or assemble the Products at the
     Facility. At CLIENT's request and expense, Entrada Mexico will fence an
     area within the Facility to store the Materials therein, and place a sign
     with the legend "Propiedad de NxStage Medical, Inc." Such area and sign
     will have the dimensions that CLIENT indicates.

     b) Production, Training and Quality Control. CLIENT will be responsible
     for: (i) planning, training, scheduling, directing and supervising the
     manufacture or assembly of the Products by the Workforce at the Facility,
     and (ii) the quality of all Products manufactured or assembled by the
     Workforce at the Facility.

3) Fees and Costs. CLIENT will pay to Entrada: (a) the Shelter Program Service
Fee, as defined in attached Exhibit "C," (b) the Facility Fee, and (c) all other
amounts called for herein and in the exhibits and attachments hereto
(collectively, the "FEES AND COSTS"), at the times and in the amounts more fully
described in Exhibit "C" attached hereto and elsewhere herein.

4) Billing Procedures. Entrada will submit weekly invoices for amounts that are
payable under this Agreement to CLIENT at the Facility. CLIENT's Mexico
representative will be responsible for supplying CLIENT's U.S. office with
copies of any of the backup documentation related to the weekly invoices. Each
invoice will be accompanied by paid receipts or third party invoices for costs
incurred by Entrada or Entrada Mexico for CLIENT's account. With respect to
costs incurred in Mexico by Entrada or Entrada Mexico, if the pertinent invoice
is accompanied by a document signed by CLIENT's representative on-site at the
Facility, such signature will conclusively signify the accuracy of the Mexican
Costs, as hereinafter defined, and will conclusively bind CLIENT to pay or
reimburse Entrada for such approved Mexican Costs. As used in this Section, the
term "Mexican Costs" means: (i) the number of basic and overtime hours worked
during the relevant work week, (ii) the number of Workers utilized during the
relevant period, (iii) the costs incurred in Mexico (other than freight and
customs charges, which the parties agree do not require the approval by CLIENT's
on-site representative) described in Section 3.c above for which reimbursement
is sought in the invoice, and (iv) the incidental reimbursable and pass-through
expenses including, but not limited to, those identified in attached Exhibits
"C" and "D."

5) Payment Obligations. CLIENT hereby agrees to pay Entrada the amount of each
such invoice as follows:

     a) Labor Charges. In order to pay the Workers every Friday, Entrada will
     provide to CLIENT an electronic invoice by Monday of the week following the
     week in which the labor charges were incurred. CLIENT agrees to pay the
     invoice within [**] business days via electronic fund transfer to Entrada's
     bank account.

     b) Facility Fee. Subject to the terms of Exhibit "A," the Facility Fee will
     be due and payable on the first day of every month.

     c) Non-Labor Charges. All other (non-labor) invoice charges, including,
     without limitation, Entrada's Shelter Program Service Fee and reimbursable
     and pass-through expenses, will be due and payable within [**] days after
     the date of such invoice.

                                     Page 9

<PAGE>

     d) Certain Costs. CLIENT understands and agrees that certain purchases or
     services requested by CLIENT may require deposits or payments in advance.
     The following are examples of payments typically required in advance:
     duties required by US or Mexican customs; payments required by Mexico
     contractors for construction projects; and advance payments required by
     Mexico car dealers for the order and purchase of vehicles. In each such
     instance, Entrada will submit an invoice to CLIENT for the amount due and
     will make the corresponding deposit, purchase, or payment when CLIENT pays
     such invoice. CLIENT will be responsible for paying for repetitive cash
     purchases and will maintain a petty cash fund for such purpose under the
     control of CLIENT's representative at the Facility.

     e) Disputed Charges. If CLIENT disputes any portion of any invoice, CLIENT
     agrees that it will pay the undisputed portion of the invoice as if there
     were no such dispute about the remainder of the invoiced amount.

     f) Late Charge. Any undisputed amounts payable by CLIENT hereunder that are
     not paid when due, shall be payable with interest accruing on such amount
     from the due date until payment in full has been made at an interest rate
     equal to the lesser of: (1) 1.0 % per month; or (2) the maximum monthly
     interest rate allowable by applicable law.

6) Worker Termination Costs. Except as provided in Section 1.a.iv, CLIENT will
have the sole, unconditional responsibility to pay any and all costs associated
with the severance or termination of any and all Workers, including production
line workers, material handlers, group leaders and inspectors, supervisory
workers, monthly salaried administrative and technical workers. CLIENT will pay
Entrada for any and all payments incurred in connection with or associated with
the severance or termination of any or all of the Workers (the "SEVERANCE
OBLIGATIONS"), including, without limitation, any such severance or termination
that results from the expiration of this Agreement or its termination for any
reason at the time of termination of each Worker. In the event CLIENT instructs
Entrada to terminate any member of the Workforce without any justified cause as
provided by applicable Mexican Law, CLIENT agrees to pay the Severance
Obligations, and, provided that Entrada, Entrada Mexico and their counsel
consult with CLIENT and follow CLIENT's reasonable suggestions with respect to
the defense and, if proper, settlement, of any claims filed by such member of
the Workforce, wages accrued after the Worker's termination until the matter is
fully resolved, penalties and other charges included in any final judgment, plus
all legal fees that may be incurred by Entrada, Entrada Mexico or any Mexico
Affiliate in connection with such matter.

     a) Letter of Credit. If and when the number of Workers employed on behalf
     of CLIENT equals or exceeds [**], CLIENT agrees to provide, and thereafter
     maintain with, Entrada an irrevocable letter of credit (the "LETTER OF
     CREDIT") to ensure the prompt payment of the Severance Obligations. The
     Letter of Credit must be issued by an institution reasonably acceptable to
     Entrada and must name Entrada as the beneficiary. Entrada, as beneficiary,
     must be entitled to draw on the Letter of Credit if any portion of the
     Severance Obligations is not paid when due hereunder. The amount of the
     Letter of Credit must be adjusted annually to the amount of such Severance
     Obligations that would be due on the date of such adjustment, assuming the
     termination of all Workers on such date.

7) Insurance. The parties agree as follows:

     a) Property Insurance. CLIENT will have sole responsibility to obtain and
     maintain, at its sole cost, any and all insurance that it deems necessary
     or appropriate for its Materials, Products,

                                     Page 10

<PAGE>

     Equipment, Inputs, inventory, supplies, work in process, finished or
     semi-finished goods and other personal property of any type against any and
     all risks, whether located in the Facility, elsewhere in Mexico, while in
     transit, or in the United States. Entrada will have no liability for any
     damage, loss or injury suffered by CLIENT, whether direct, consequential,
     incidental or otherwise, with respect to such property. Entrada hereby
     advises CLIENT that it is legally required to have a Mexican insurance
     company issue any policy insuring any of CLIENT's property located in
     Mexico, including, but not limited to, CLIENT's Materials, Products,
     Equipment, inventory, supplies, work in process, finished and semi-finished
     goods.

     b) Facility Insurance. Entrada will provide, or cause to be provided, at
     its sole cost, fire and casualty insurance by a reputable Mexican insurance
     company in an amount that represents the cost of reconstruction of the
     Facility.

     c) Liability Insurance; Miscellaneous Insurance Provisions:

          i) Entrada Liability Insurance Policy. Entrada will provide and
          maintain, at its own cost, or cause to be provided and maintained, at
          its sole cost, a policy of general liability insurance covering the
          activities at the Facility (the "GENERAL LIABILITY POLICY") with
          minimum coverage limits of $1,000,000 per occurrence, naming Entrada
          as the beneficiary. The General Liability Policy may not be cancelled
          without at least 60 days' prior written notice to CLIENT. Within 60
          days after execution of this Agreement, Entrada will deliver to CLIENT
          a certificate of insurance showing the General Liability Policy to be
          in effect in accordance with the requirements of this paragraph.

          ii) CLIENT Liability Insurance Policy. CLIENT will provide and
          maintain at its own cost, or cause to be provided and maintained, at
          its sole cost, a policy of general liability insurance covering the
          activities at the Facility with minimum coverage limits of $1,000,000
          per occurrence, naming CLIENT as the beneficiary. This policy may not
          be cancelled without at least 60 days' prior written notice to
          Entrada. Within 60 days after execution of this Agreement, CLIENT will
          deliver to Entrada a certificate of insurance showing the General
          Liability Policy to be in effect in accordance with the requirements
          of this paragraph.

          iii) Waiver of Subrogation. CLIENT, Entrada and Entrada Mexico waive,
          and Entrada and Entrada Mexico will cause the Mexican Affiliates to
          waive, any and all rights of subrogation against each other and
          against all contractors, subcontractors, materialmen, vendors,
          consultants, agents and employees of each other for damages and lost
          profits, including, but not limited to, damages sounding in tort,
          civil liability, strict liability, warranty, negligence or strict
          products liability.

          iv) Insurance Waiver Provision. All insurance agreements in connection
          with insurance required to be provided or obtained under the
          provisions of this Agreement shall include an express provision
          waiving subrogation against Entrada and Entrada Mexico for damages and
          lost profits, including, but not limited to, damages sounding in tort,
          civil liability, strict liability, warranty, negligence or strict
          products liability.

          v) Product Liability Indemnity. CLIENT hereby indemnifies, and agrees
          to protect, defend and hold Entrada and Entrada Mexico harmless
          against all demands, obligations, claims, costs, expenses, judgments,
          awards and liabilities of any nature, claimed or asserted by any
          unaffiliated person, as a result of, or in any way arising out of, or

                                     Page 11

<PAGE>

          consequential to the design, manufacture, assembly, use, delivery,
          consumption, or integration into other products of any of CLIENT's
          Products, except if such demands, obligations, claims, costs,
          expenses, judgments, awards or liabilities arise from Entrada's or
          Entrada Mexico's negligence of willful misconduct, or breach of its or
          their obligations hereunder.

          vi) Entrada Disclaimer. NEITHER ENTRADA NOR ENTRADA MEXICO IS THE
          DESIGNER OR MANUFACTURER OF THE PRODUCTS AND NEITHER OF THEM MAKES,
          AND HEREBY DISCLAIMS, ANY AND ALL REPRESENTATIONS OR WARRANTIES,
          EXPRESS OR IMPLIED, ABOUT THE PRODUCTS, THEIR QUALITY, MERCHANTABILITY
          OR FITNESS FOR A PARTICULAR PURPOSE.

8) Term.

     a) Commencement; Duration. The term of this Agreement will commence on
     March 1, 2007 (the "COMMENCEMENT DATE"), and will expire on February 28,
     2012, 60 (sixty) months after the commencement of the Agreement.

     b) Conforming Extension. If, pursuant to CLIENT's instructions, Entrada
     Mexico extends its Lease of the Facility, then CLIENT will extend the term
     of this Agreement by the same period that such lease is extended.

     Subject to Entrada Mexico extending its lease for the Facility to provide
     for the uninterrupted use thereof, this Agreement shall extend for
     successive one-year terms upon the mutual agreement of the parties. At
     least one hundred twenty (120) days prior to the expiration of the initial
     term of this Agreement or any extension thereof, the parties will endeavor
     in good faith to (i) provide written notice to each other of their
     intention not to extend this Agreement, or (ii) initiate negotiations to
     extend this Agreement and the lease for the Facility. Upon termination of
     this Agreement, the parties will cooperate to undertake all necessary
     actions to wind down CLIENT's operation as quickly as possible or to
     implement Section 9.e below, as the CLIENT may elect.

9) Termination.

     a) Cause.

          (i) Any party (the "TERMINATING PARTY") may terminate this Agreement
          for "cause," at any time, by giving written notice of such termination
          (the "FOR CAUSE TERMINATION NOTICe") to the other party (the
          "BREACHING PARTY"), without the need of first securing a judgment or
          arbitral award therefor. As used in this Section, the term "CAUSE"
          means: (A) the bankruptcy (whether voluntary or involuntary),
          insolvency, liquidation, receivership, dissolution, or assignment for
          the benefit of creditors of the breaching party (a "BANKRUPTCY
          PROCEEDING"), or (B) a material breach by the breaching party of any
          of the breaching party's material obligations under this Agreement,
          including the obligations set forth in Section 1.b.viii above (such a
          breach is referred to as a "MATERIAL BREACH"), that is not cured in
          accordance with clause (ii) below.

          (ii) No party will be entitled to give a For Cause Termination Notice
          based upon a Material Breach unless (1) it has first given the
          breaching party written notice (the "BREACH NOTICE") specifying the
          Material Breach, and (2) such Material Breach is not cured within the
          following period, as applicable:

                                     Page 12

<PAGE>

               (I) If the Material Breach is CLIENT's failure to make any
          payment called for herein when due (a "PAYMENT BREACH"), CLIENT must
          cure such payment delinquency in full within two (2) business days
          after Entrada gives CLIENT a Breach Notice regarding such delinquent
          payment.

               (II) If the Material Breach is other than a Payment Breach by
          CLIENT, the breaching party must cure such Material Breach within
          thirty (30) days after the terminating party gives the Breach Notice.
          Notwithstanding the immediately preceding sentence, if such Material
          Breach is of a type that cannot be completely cured within thirty (30)
          days, such Material Breach will not constitute cause for termination
          if the breaching party commences to cure such Material Breach within
          such thirty (30) day period and thereafter diligently pursues such
          cure to completion, provided that such completion takes place no later
          than ninety (90) days from the date that the Breach Notice is given.
          The provisions of this paragraph (II) do not apply to the obligations
          set forth in Section 1.b.viii above, since those obligations will be
          subject to the periods mentioned therein without an additional cure
          period.

     b) Changed Circumstances.

          (i) In addition to its right to terminate this Agreement for "cause,"
          pursuant to clause (a) of this Section, CLIENT may terminate this
          Agreement, without further liability under this Agreement other than
          to pay amounts and perform obligations that have accrued and are due
          as of the date that CLIENT vacates the Facility used for the
          Production Operations, by giving written notice of such termination
          (the "CHANGED CIRCUMSTANCES TERMINATION NOTICE") to Entrada and
          Entrada Mexico if any of the following circumstances (each a "CHANGED
          CIRCUMSTANCE") occur:

               (1) If one or more Unrelated Persons, as hereinafter defined,
          acquire a 50% or greater ownership interest in Entrada or Entrada
          Mexico without the approval of CLIENT (such acquisition is referred to
          hereinafter as an "UNAPPROVED CHANGE IN ENTRADA CONTROL"). As used in
          this clause, the term "Unrelated Person" means any person who does not
          own an equity interest in Entrada or Entrada Mexico at the time of
          execution of this Agreement. CLIENT agrees that it will not
          unreasonably withhold, delay or condition its approval of a change in
          control of Entrada, and will approve such change unless it reasonably
          concludes that such change in control will adversely and materially
          affect CLIENT's business.

               (2) If (A) there is a strike of Workers at the Facility that does
          not arise from actions or inactions of CLIENT, and (B) as a result of
          the Strike, CLIENT's Production Operations are halted for [**]
          consecutive business days (such a Worker's strike is referred to
          hereinafter as a "STRIKE").

               (3) If (A) any lien or encumbrance is placed on Entrada Mexico's
          or the relevant Affiliate's business, or the seizure or attachment of
          Entrada Mexico's or the relevant Affiliate's assets as a consequence
          of a labor, tax or any other kind of claim, and (B) as a result of
          such lien, encumbrance or seizure, CLIENT's Production Operations are
          halted for [**] consecutive business days (such liens, encumbrances
          and seizures are referred to hereinafter, jointly and severally, as a
          "LIEN").

          (ii) CLIENT will not be entitled to terminate this Agreement due to a
          Changed Circumstance except as follows:

                                     Page 13

<PAGE>

               (1) If the Changed Circumstance Notice is based on an Unapproved
          Change in Entrada Control, CLIENT must issue such Changed
          Circumstances Termination Notice within 5 business days after receipt
          of Entrada's request of approval of such change in control.

               (2) If the Changed Circumstance Notice is based on a Strike,
          CLIENT must issue such Changed Circumstances Termination Notice before
          the earlier of: (A) 30 days after the commencement of the Strike, and
          (B) the day on which the Strike ends.

               (3) If the Changed Circumstance Notice is based on a Lien, CLIENT
          must issue such Changed Circumstances Termination Notice before the
          earlier of: (A) 30 days after CLIENT's Production Operations are
          halted, and (B) the day on which the Lien is removed.

     c) Certain Remedies and Limitations.

          (i) In the event that this Agreement is terminated as permitted by any
          of the preceding clauses of this Section 9, the terminating party will
          retain its right to recover damages from the breaching party.

          (ii) CLIENT will be entitled to terminate this Agreement as a result
          of a Bankruptcy Proceeding of, or Material Breach by Entrada or
          Entrada Mexico. If such Bankruptcy Proceeding or Material Breach
          occurs within 12 months after the execution of this Agreement, CLIENT
          will have no obligation to assume the Lease. If such Bankruptcy
          Proceeding or Material Breach occurs more than 12 months after the
          execution of this Agreement, CLIENT will assume the Lease for the
          First New Building and the Second New Building, except if either of
          the following circumstances (the "Lease Termination Circumstances")
          then exist: (1) Lessor will not allow the CLIENT to assume the Lease,
          or (2) CLIENT is not able to continue its Production Operations in the
          Facility for a period of [**] consecutive business days, due to
          failure by Entrada and/or Entrada Mexico to act in accordance with
          Section 9(e) below, or otherwise.

          If a Bankruptcy of, or Material Breach by Entrada or Entrada Mexico
          occurs more than 12 months after the execution of this Agreement, and
          neither of the Lease Termination Circumstances then exist, CLIENT (1)
          will not be entitled to terminate the Lease, and (2) will
          automatically succeed to: (a) all rights of lessee under the Lease for
          the First New Building and the Second New, and (b) all legal duties of
          lessee to Lessor under the Lease for the First New Building and the
          Second New Building, but only to the extent such duties arise on or
          after the effective date of CLIENT's succession as lessee under the
          Lease for the First New Building and the Second New Building, all
          without the need for further instruments to be executed.

          (iii) CLIENT will be entitled to terminate this Agreement as a result
          of a Strike subject to Section 9.b.ii(2) above. If such Strike occurs
          within 12 months after the execution of this Agreement, CLIENT will
          have no obligation to assume the Lease. If such Strike occurs more
          than 12 months after the execution of this Agreement, CLIENT will
          assume the Lease for the First New Building and the Second New
          Building, except if such Strike continues for [**] consecutive days
          and is the result of Entrada's or Entrada Mexico's actions or
          inactions.

                                     Page 14

<PAGE>

          (iv) If CLIENT terminates this Agreement in the event of an Unapproved
          Change of Entrada Control as set forth in Sections 9.b.i(1) and
          9.b.ii(1) above, except if as a result of the Unapproved Change in
          Entrada Control CLIENT's continuation of Production Operations at the
          Facility for [**] consecutive business days or more is prevented,
          CLIENT will assume the Lease for the First New Building and the Second
          New Building.

          (v) CLIENT will not be entitled to terminate this Agreement in the
          event of the imposition of a lien, encumbrance or seizure similar to a
          Lien, but that does not prevent CLIENT's continuation of Production
          Operations at the Facility for [**] consecutive business days or more.
          This Agreement will continue in full force and effect notwithstanding
          such event. If CLIENT's continuation of Production Operations at the
          Facility is prevented for [**] consecutive business days or more,
          CLIENT will have no obligation to assume the Lease.

     d) Certain Continuing Obligations. CLIENT agrees that upon the expiration
     of this Agreement or termination of this Agreement pursuant to this Section
     9 or pursuant to Section 1.b, CLIENT will pay, at the time of such
     expiration or termination, all amounts payable by it hereunder that have
     accrued as of the date of such termination, including, without limitation,
     Severance Payments, the Shelter Plan Service Fee and, in accordance with
     Exhibit "A," the Facility Fee. Entrada recognizes that it will only be
     entitled to receive from CLIENT such amounts.

     e) Effect of Termination. Upon CLIENT's termination of this Agreement as
     set forth in this Section 9, CLIENT shall have the right to take full
     responsibility of the Facility and services otherwise provided by Entrada
     and Entrada Mexico, in which case, Entrada and Entrada Mexico, within sixty
     (60) calendar days of the date that the written notice is delivered, agree
     to transfer or assign to CLIENT or its designated Mexican company, at
     CLIENT's election:

          (i) All Facility Permits and contracts to the extent that such
          Facility Permits are assignable under applicable law.

          (ii) All Workers that have been hired to work for CLIENT based on its
          written requests; to this effect, Entrada and Entrada Mexico agree to
          enter into an Employer Substitution Agreement in the format to be
          provided by CLIENT, under which CLIENT will acknowledge the respective
          employees' seniority.

          (iii) All of the machinery, equipment, materials, work in process and
          inventory of finished Products by performing a "virtual" import-export
          operation or any other simplified form of customs transfer as
          established in the Mexican Customs Law, its Regulations and/or the
          Foreign Trade General Rules.

          (iv) All of the assets purchased on behalf of CLIENT and registered in
          Entrada Mexico's books without any additional compensation for Entrada
          Mexico, on the understanding that CLIENT will be responsible for any
          applicable Mexican Value Added Tax ("VAT") on the transfer of such
          assets.

          (v) The Lease.

10) Use of Subcontractors. Without in any way relieving it of any obligation or
duty otherwise undertaken hereunder, Entrada will have the right, upon the prior
written consent of CLIENT, which shall not be unreasonably withheld, to enter
into a subcontract with one or more third parties to provide portions of the

                                     Page 15

<PAGE>

Shelter Program Services in Mexico. The parties agree that Entrada will select
the Mexican customs broker required for CLIENT's operations, and that, unless
otherwise agreed by the parties, all import and export transactions related to
CLIENT's operations will be carried out through such Mexican customs broker.

11) CLIENT Property. The parties agree that all CLIENT's right, title, and
interest to intellectual property, Materials, Products and Equipment used in
connection with the manufacture or assembly of CLIENT's Products at the Facility
will remain the property of CLIENT. At no time will Entrada or Entrada Mexico be
deemed to have any ownership interest in such property. Entrada agrees not to
use any of CLIENT's assets, including intellectual property and proprietary
information and patented and copyrighted materials, for purposes other than as
set forth in the Agreement. Entrada agrees to indemnify CLIENT for breach of
such obligations.

12) Notices. All statements, notices, demands and requests for payments from one
party to another will be, unless otherwise specified herein, delivered
personally or sent by mail, postage prepaid, certified or registered mail, to
the address set forth on the first page hereof, or such addresses as the parties
may hereafter designate to each other in writing.

13) Jurisdiction. This Agreement will be interpreted under the laws of the State
of Delaware. Any controversy or claim under this Agreement (including, without
limitation, any claim for damages arising out of a party's breach of any of the
obligations under this Agreement) will be settled by binding arbitration, and
judgment upon the award rendered by the arbitrators may be entered in, and
enforced by, and court having jurisdiction. Arbitration hereunder will be
conducted in accordance with Section 14.

14) Arbitration. The arbitration will be conducted in San Antonio, Texas, or
such other location to which the parties hereafter agree in writing, by the
American Arbitration Association in accordance with commercial arbitration rules
of the American Arbitration Association. The arbitration will be conducted in
English.

     a) There will be three arbitrators, one chosen by Entrada, one chosen by
     CLIENT, and the third chosen by the two arbitrators previously appointed.
     Within twenty (20) days after the submission by a party of a demand for
     arbitration, each of the parties will select one arbitrator. In the event
     of a failure of a party to select an arbitrator within the designated time
     period, the other party may request the American Arbitration Association to
     make such appointment. The two arbitrators so appointed will select a third
     arbitrator, but, if the said two arbitrators cannot promptly agree upon a
     third arbitrator, either party may request that the American Arbitration
     Association appoint a third arbitrator.

     b) The parties hereby confer upon arbitrators the right to direct each of
     the parties to produce whatever documents the arbitrators deem appropriate
     in advance of the arbitration hearing.

     c) The arbitration award must be made within ten (10) months of the filing
     of the notice of intention to arbitrate, and the arbitrators must agree to
     comply with this schedule before accepting appointment. Notwithstanding the
     preceding sentence, the time limit may be extended by agreement of the
     parties. If, for any reason within the reasonable control of such party, a
     party does not completely present its case to the arbitrators in sufficient
     time to allow the arbitrators to make a timely award, the arbitrators may,
     in their sole discretion, deem the other party to be the prevailing party
     in such arbitration proceedings and to make the award accordingly.

                                     Page 16

<PAGE>

     d) The arbitrators will have no authority to award any of the following:
     lost profits, punitive, consequential, exemplary, or incidental damages, or
     damages payable by the prevailing party to a third party due to a
     contractual obligation of the prevailing party to such third party.

     e) At the request of either party, the award of the arbitrators shall
     include findings of facts and conclusions of law, the additional cost of
     which, if any, will be borne solely by the requesting party.

     f) In any arbitration proceeding hereunder, each party shall bear the
     expenses of its witnesses. All other costs of arbitration, including,
     without limitation, the fees and of the arbitrators, the cost of the record
     or transcripts thereof, if any, and all other fees and costs shall be
     allocated to the parties to the arbitration as determined by the arbitral
     panel.

     g) The written decision of any two arbitrators will be final and binding on
     the parties and will be legally enforceable in any court of competent
     jurisdiction as an arbitration award to the maximum extent by law.

15) Exclusion of Certain Damages. Notwithstanding anything to the contrary in
this Agreement, in the event of a breach by either party of such party's
obligations under this Agreement or a claim for indemnification, the
non-breaching party or the indemnitee, as the case may be, will (in addition to
whatever equitable relief is available to such party under this Agreement or
under applicable law) have the right to recover (a) all damages incurred or
sustained by such non-breaching party as a result of such breach by the other
party, or (b) the indemnified losses sustained by such indemnitee; provided,
however, for purposes of this Agreement, the terms "damages" and indemnified
losses will be deemed to exclude damages for, and indemnified losses that
consist of, lost profits, punitive, consequential, exemplary, or incidental
damages, and damages payable by the non-breaching party to a third party due to
a contractual obligation of the non-breaching party to such third party, that
the non-breaching party is not able to meet because of the breach of this
Agreement by the breaching party (collectively, "EXCLUDED DAMAGES"), even if the
breaching party or the indemnifying party has been advised of the possibility
that the non-breaching party or the indemnitee will sustain any such Excluded
Damages.

16) Confidentiality. The information that CLIENT will provide to Entrada and/or
Entrada Mexico may include trade secrets, or proprietary or confidential
information. Entrada and Entrada Mexico will regard and preserve as confidential
all information and know-how related to CLIENT's business, revealed to or
learned by Entrada and/or Entrada Mexico from any source as a result of this
Agreement, whether or not such information is verbally described, or marked or
otherwise identified as confidential. Without limiting the foregoing, Entrada
and Entrada Mexico will refrain from disclosing or disseminating, or permitting
to be disclosed or disseminated, any customer list, pricing, methods, technical
information, know-how, patents, processes, programs, practices, or any other
material or data conceived, designed created, developed, used assembled or
manufactured, by CLIENT.

The entire right, title, and interest, including copyright, in all inventions
and original works of authorship fixed in any tangible medium of expression
heretofore or hereafter created by Entrada and/or Entrada Mexico or on Entrada's
and/or Entrada Mexico's behalf, for CLIENT or furnished to CLIENT hereunder is
hereby transferred to and vested in CLIENT. The parties expressly agree to
consider as work made for hire those works ordered or commissioned by CLIENT
which qualify as such in accordance with the copyright, authors rights, or
invention protection laws. For all such inventions and other original works,
Entrada and Entrada Mexico agree to provide documentation satisfactory to CLIENT
to ensure the conveyance of all such right, title, and interest, including
copyright, to CLIENT.

                                     Page 17

<PAGE>

17) Assignment. Neither party may assign its rights under this Agreement or
delegate any of its performance obligations hereunder without the prior written
consent of the other party, which consent will not be unreasonably withheld,
delayed or conditioned. However, Entrada may assign, without the consent of
CLIENT, Entrada's rights to collect the Facility Fee, and Entrada and Entrada
Mexico hereby authorize CLIENT to assign this Agreement in its entirety to (i)
an affiliate of CLIENT, or (ii) a third party that acquires 50% or more of the
total equity issued by CLIENT, or substantially all of CLIENT's assets, provided
the assignee has at least the same or better creditworthiness as compared to
CLIENT at the time the assignment takes place.

In addition, Entrada and Entrada Mexico may use Affiliates to provide the
services provided hereunder, provided that they first inform CLIENT in writing
who the relevant Affiliate will be and what its responsibilities will be.

18) Binding Nature. This Agreement and each and every provision hereof will be
binding on and will inure to the benefit of each of the parties and their
respective successors and permitted assigns, and all such persons will execute
any instruments that may be necessary or appropriate to carry out and execute
the purposes and intentions of this Agreement. Each and every successor in
interest of any party will hold such interest subject to all terms and
provisions of this Agreement.

19) Miscellaneous Provisions. The parties hereto will be independent
contractors, and neither party will be an agent, partner or co-venturer of the
other party. This Agreement will be governed by and construed and interpreted in
accordance with the substantive laws of the State of Delaware without reference
to the conflicts of law provisions thereof. This Agreement may be amended only
by a written agreement signed by duly authorized agents of both parties.
Headings of provisions are for convenience only and are not to be used in
construing this Agreement. No waiver by any party or any person claiming through
or under a party of any breach of this Agreement by the other party in one or
more instances will constitute a waiver with respect to any other or subsequent
breach. In the event that any provision of this Agreement will be declared by a
court of competent jurisdiction to be invalid, illegal, or otherwise
unenforceable, the validity, legality, and enforceability of the remaining
provisions will not in any way be affected or impaired thereby.

20) Inconsistencies. In the event of any conflict or inconsistency between any
provisions of this Agreement and any printed provisions in any other document
now existing or hereafter issued by either party, the provisions of this
Agreement will prevail and will govern the interpretation of the contract
between the parties.

21) Counterpart Execution. This Agreement may be executed in one or more
counterparts, and each of the counterparts will for all purposes be deemed to be
an original, and all such counterparts will constitute one and the same
instrument.

22) Timing of Essence. Time is of the essence of this Agreement.

23) Tax Consequences. Entrada, Entrada Mexico and the Affiliates shall comply
with all applicable Mexican legal provisions in effect that relate to transfer
pricing rules such that, by complying with the current transfer pricing rules as
they relate to the manufacturing and assembly activities Entrada is undertaking
for CLIENT, Entrada and CLIENT shall be exempted, to the extent provided by law
and the activities of CLIENT in Mexico are restricted to the compliance of this
Agreement, from any permanent establishment provisions for income tax purposes.

24) Value Added Tax. Entrada, Entrada Mexico and any relevant Affiliate shall
comply with their obligations under the VAT Law, and, to the extent permitted by
law, they will endeavor to recover or

                                     Page 18

<PAGE>

have offset by Mexican authorities, and, if so recovered or offset, will
promptly credit such recovered or offset amount against VAT or other Mexican
taxes payable by CLIENT hereunder, and any balance will be promptly credited to
CLIENT.

25) Exchange Rate. Any expense in Mexican Pesos that Entrada or Entrada Mexico
is entitled to recover from CLIENT, shall be converted into U.S. Dollars by
using the best available exchange rate from the banking or any other foreign
exchange institution providing services to Entrada or Entrada Mexico. On each
Entrada invoice, Entrada will provide to CLIENT a list of the expenditures made
in Mexican Pesos, the equivalent amount in U.S. Dollars, and the exchange rate
used.

26) Certain Payments. In the performance of its obligations hereunder, Entrada
and Entrada Mexico shall comply strictly with all applicable laws, regulations
and orders of the United States and Mexico. Without limiting the generality of
this Section, Entrada and Entrada Mexico hereby acknowledge and agree that
certain laws of the United States, including the Foreign Corrupt Practices Act,
prohibit any person subject to the jurisdiction of the United States from making
any payment of money or anything of value, directly or indirectly, to any
foreign government official, foreign political party or candidate for foreign
political office for the purpose of obtaining or retaining business. Each of
Entrada and Entrada Mexico hereby represents and warrants that, in the
performance of its duties hereunder, it has not made, and will not make, any
such proscribed payment. Entrada and Entrada Mexico shall indemnify and hold
harmless CLIENT from and against any and all claims, losses and liabilities
attributable to any breach by Entrada or Entrada Mexico of its obligations under
this Section.

27) Mutual Indemnity. Entrada and Entrada Mexico will indemnify and hold
harmless CLIENT from and against any and all claims, losses and liabilities
arising from criminal conduct by the employees of Entrada, Entrada Mexico or the
relevant Affiliate that are not assigned full-time to CLIENT's operations.
CLIENT will indemnify and hold harmless Entrada, Entrada Mexico and/or the
relevant Affiliate from and against any and all claims, losses and liabilities
arising from willful misconduct or gross negligence that constitute criminal
conduct by CLIENT's employees or other employees that are supervised by CLIENT.

Entrada will assign one of its employees or an employee of Entrada Mexico or the
relevant Affiliate to spot-check shipments and the other activities carried out
at the Facility to attempt to prevent criminal conduct.

28) Joint and Several Liability. Entrada and Entrada Mexico will be jointly and
severally liable (in solidum) to CLIENT with respect to the obligations of
Entrada, and/or Entrada Mexico and/or the Affiliates, arising from, or in
connection with, this Agreement.

29) Entire Agreement. The terms and provisions contained herein, together with
the exhibits attached hereto, constitute the entire agreement between the
parties and, except as stated herein, supersede all previous communications and
understandings, either oral or written, between the parties hereto with respect
to the subject matter hereof. No agreements or understandings varying or
extending the terms of this Agreement will be binding upon either party hereto
unless in writing signed by a duly authorized officer or representative thereof
of each party.

                                     Page 19

<PAGE>

IN WITNESS WHEREOF, the parties have set their hands on this instrument by means
of their duly authorized representatives on the date and year first above
written.

ENTRADA PARTNERS,                       NxSTAGE MEDICAL, INC., a(n) _______
a Texas Limited Partnership             corporation

By: /s/ Paul Karon                      By: /s/ Jeffrey H. Burbank
    ---------------------------------       ------------------------------------
Its: Global Factory Managing Partner    Its: President & CEO

ENTRADA GROUP DE MEXICO,
S. de R.L. de C.V.

By: /s/ Paul Karon
    ---------------------------------
Its: Legal Representative

                                     Page 20

<PAGE>

NXSTAGE MEDICAL AND ENTRADA SHELTER AGREEMENT

List of Exhibits

Exhibit A.   Facility Related Obligations

Exhibit A-2. Lease Agreement

Exhibit B.   Shelter Program Services

Exhibit C.   Shelter Program Service Fees and Costs

Exhibit D.   Client Reimbursable Costs and Policies

Exhibit E.   Procurement in Mexico

Exhibit F.   Annual Compensation Calculation - example

Exhibit G.   Not Required

Exhibit H.   Commadatum (Bailment) Agreement

<PAGE>

                                   EXHIBIT "A"

                          FACILITY RELATED OBLIGATIONS

     This Exhibit is attached to and made a part of that certain Shelter
Agreement, of even date herewith (the "AGREEMENT"), executed by Entrada, Entrada
Mexico (referred to herein, jointly and severally, as "ENTRADA") and NxStage
Medical, Inc. ("CLIENT").

     Unless specifically defined herein, terms that are defined in the Agreement
will have the same meanings when used herein.

     Entrada will make available for CLIENT's manufacturing process in Mexico
pursuant to the Agreement, the following facilities, each located in the
Fresnillo Industrial Park in Fresnillo, Zacatecas, Mexico, on the terms and
conditions stated herein:

(a)  A PORTION OF THE BUILDING WHERE TRICON CURRENTLY OPERATES (referred to in
     the Agreement and hereinafter, as the "SHARED OCCUPANCY BUILDING"): CLIENT
     agrees to pay to Entrada, commencing ________________, 2007, a fee (the
     "FACILITY FEE") of US $[**] U.S. Cents) per square foot per month for the
     use of a portion of the Shared Occupancy Building measuring approximately
     15,000 square feet of manufacturing space until the earlier of (i) such
     time that Entrada completes the First New Building described in (b) below
     in accordance with the terms of the Agreement, or (ii) the expiration of
     nine (9) months after the date of execution of the Agreement. The floor
     plan of the Shared Occupancy Building is attached hereto as Exhibit A-1.
     The manufacturing space used for CLIENT's operations in the Shared
     Occupancy Building will at all times be physically separated from the
     manufacturing space used for operations of Tricon, but CLIENT's Workforce
     will have access to bathrooms and the cafeteria in the Shared Occupancy
     Building.

(b)  THE NEW FACILITY:

     (1) Entrada has commenced the construction of a new building (referred to
     in the Agreement and hereinafter, as the "FIRST NEW BUILDING") of
     approximately 70,000 square feet, for the production of its clients'
     products. Approximately 35,000 square feet of the First New Building
     (Modules 2 and 3 thereof) will be dedicated to CLIENT's Production
     Operations. The facility fee for Modules 2 and 3 (the "FIRST NEW BUILDING
     FACILITY FEE") shall be US [**] cents per square foot per month. The floor
     plan of the First New Building is attached hereto as Exhibit A-2.

     The construction period for the First New Building is expected to be
     approximately [**] months in duration. Entrada intends to complete the
     interior of the First New Building on or about April 1, 2007, at which time
     Client shall be able to begin to install its Equipment. Entrada intends to
     substantially complete the First New Building on or about May 1, 2007.
     CLIENT shall commence paying the First New Building Facility Fee once its
     Production Operations can reasonably begin in the First New Building.

     (2) If requested in writing by Client within the twelve (12) months
     following the date of execution of the Agreement, Entrada will construct a
     second building (referred to in the Agreement and hereinafter, as the
     "SECOND NEW BUILDING") of 35,000 square feet of manufacturing space in a
     building immediately adjacent to the First New Building pursuant to a

<PAGE>

     floor plan substantially similar to the one attached hereto as Exhibit A-2,
     unless otherwise requested in writing by Client.

     (3) The Second New Building would be built and leased under terms and
     conditions substantially similar to the First New Building with the sole
     exception being that the Facility Fee for the Second New Building would be
     negotiated in good faith between the parties prior to the expiration of the
     twelve month period. If the parties can not reach agreement, then Entrada's
     obligation to reserve the land for the construction of NxStage's Second New
     Building terminates.

     (4) Unless otherwise agreed by the parties in writing, the construction
     period for the Second New Building will be approximately [**] months from
     construction commencement notice to completion, and CLIENT shall commence
     paying the Second New Building Facility Fee, in addition to the Facility
     Fee that is due with respect to any other Facility that is used for its
     Production Operations, as of the date that CLIENT's Production Operations
     can reasonably begin in the Second New Building.

     (5) Except as set forth above in this paragraph (b), all references in the
     Agreement (including references in this Exhibit A) to the Facility (whether
     or not such term is capitalized), mean the First New Building, the Second
     New Building and, to the extent and for as long as it is used for CLIENT's
     Production Operations, the Shared Occupancy Building.

(c)  IN CONNECTION WITH ANY FACILITY, CLIENT AND ENTRADA AGREE THAT:

     (1) Entrada will include with the monthly billing an amount equal to [**]%
     of the Facility Fee. This amount covers Entrada Mexico's obligation to the
     owner of the Facility to advance Mexico's value added tax ("IVA") on the
     space. Entrada will credit CLIENT for the IVA paid on the Facility within
     [**] days of Entrada Mexico receiving reimbursement from the Mexican
     government (or otherwise recovering such IVA). Credit will be given to
     CLIENT at the peso/US dollar exchange rate that applies on the date of
     actual reimbursement by the Mexican government (or other recovery thereof).
     Client will not pay any part of the Facility Fee more than [**] days in
     advance of its due date.

     (2) The Facility Fee will be adjusted every 12 months by an amount equal to
     the percentage increase or decrease, if any, in the cost of living for the
     preceding year based upon the U.S. Consumer Price Index-All Items-U.S.
     Cities Average, All Urban Consumers (1967=100) published by the Bureau of
     Labor Statistics of the U.S. Department of Labor (the "CPI") In the event
     the CPI ceases to be published, the most comparable substitute (the
     "SUBSTITUTE INDEX") will be used thereafter as selected by the mutual
     agreement of the parties.

     (3) Upkeep. Subject to the next sentence, Entrada will keep the Facility in
     good repair at all times. CLIENT will bear the costs of repairs or
     maintenance of the Facility that relate to damages (other than normal wear
     and tear) caused by CLIENT, the Workers or other persons under the
     supervision of CLIENT.

     (4) Leasehold Improvements. Subject to the leasehold improvement conditions
     and restrictions set forth in Exhibit A-2 and the limitation described in
     the next sentence, CLIENT will be entitled, at its sole cost, to cause
     alterations or additions that are reasonably necessary to CLIENT's
     Production Operations to be made to the Facility (the "ALTERATIONS"),
     including installation of (i) electrical power and distribution systems,
     (ii) telephone systems, (iii) electrical fixtures and (iv) appliances.
     CLIENT may not make any alteration or addition that involves or results in
     (A) modification of the basic structure of the Facility, (B) modification
     of the external

<PAGE>

     appearance or the basic utility services of the Facility, or (C) any
     alteration that involves or results in penetration of the Facility roof.

     Subject to the conditions and restrictions set forth in Exhibit A-2, at the
     request of CLIENT, Entrada will assign, without representation or warranty,
     to CLIENT or its designee, any removable improvements made to the Facility
     as part of the Alterations provided such improvements were made with funds
     supplied by CLIENT. CLIENT will have the right, but not the obligation, to
     remove removable improvements made as part of the Alterations, as well as
     furniture, trade fixtures, machinery and business equipment installed by
     CLIENT, no later than (A) the end of the term of the Lease, or (B) CLIENT's
     earlier termination of the Lease. Any such improvements and other property
     so installed not timely moved will be conclusively deemed to be abandoned.
     CLIENT shall, at its own expense, repair all damages resulting from the
     installation and removal of such leasehold improvements, furniture, trade
     fixtures, machinery and business equipment.

     (5) Maintenance of Common Areas. CLIENT will pay to Entrada a reasonable
     fee for sweeping of parking lots and maintenance of common areas in the
     industrial park in which the Facility is located, provided that such fee
     does not exceed the amount of US $[**] U.S. Cents) per square foot of the
     Facility space used for CLIENT's Production Operations, per year.

     (6) Outside Storage. If CLIENT's operations at the Facility require outside
     storage, Client and Entrada agree to negotiate a separate agreement with
     respect to the terms of such outside storage, including its associated
     charge.

     (7) Utility Costs. CLIENT will be responsible for paying the cost of
     installation, measurement, and consumption of the telecommunications
     services, water and sewer, and electric power consumed in connection with
     CLIENT's Production Operations at the Facility, and will be responsible for
     paying all costs and making all deposits due the Federal Electrical
     Commission of Mexico associated with the establishment and fulfillment of
     CLIENT's electrical requirements. The deposits, and the installation,
     measurement, infrastructure, capacity, contracting, service and other
     similar costs (other than actual consumption costs) for all of the
     utilities that serve the Facility are estimated as follows:

     1.   Security deposit on 300KVA to CFE - $[**] USD (paid by NxStage)

     2.   One-time purchase of 300 KVA's from CFE - $[**] (paid by NxStage)

     3.   Routine monthly consumption - $[**] - $[**] (paid by NxStage)

     4.   Routine monthly water and sewer charges - $[**] - $[**] (paid by
          NxStage)

     5.   Routine monthly trash removal - $[**] (paid by NxStage)

     Entrada Mexico will provide, at no additional cost to CLIENT, one 500 KVA
     transformer for powering equipment and machinery within the facility and
     one 30 kVA dry transformer to support office power and general lighting in
     the warehouse and common areas, as specified on Exhibit A-2.

     (8) Temperature Control. Entrada Mexico will provide, at no additional cost
     to CLIENT, an evaporative cooler for the office area of the Facility.

     (9) Environmental Indemnification. Entrada and CLIENT acknowledge that, in
     order for Entrada Mexico to conduct CLIENT's Production Operations in
     compliance with all applicable Environmental Laws, Entrada will advise
     CLIENT with respect to such Environmental Laws as part of the Shelter
     Program Services. In addition, Entrada and CLIENT acknowledge that all

<PAGE>

     installation, dismantling and replacement of Equipment and Production
     Operations in the Facility must be conducted by Entrada Mexico, subject to
     the supervision and direction of CLIENT. Accordingly, CLIENT shall save,
     indemnify and hold Entrada and its affiliates (including without limitation
     its parent, sister and subsidiary entities) harmless against any all
     liabilities, claims, demands, obligations, causes of action, allegations,
     orders, damages, penalties, losses, costs, expenses, including, without
     limitation, attorney's fees, injuries or judgments (other than Excluded
     Damages), arising out of, relating to, or resulting from (1) the presence,
     generation, use, handling, storage, transport, discharge, leakage,
     spillage, or seepage of, or pollution by any hazardous substance at or
     about the Facility that arises as a result of the operations of CLIENT, and
     (2) the violation of any Environmental Laws that arises as a result of the
     operations of CLIENT. The foregoing indemnification obligations, however,
     will not apply to the extent CLIENT's actions were taken in reliance upon
     or consistent with advice provided by Entrada. Entrada and Entrada Mexico
     agree to indemnify CLIENT for any damage (other than Excluded Damages)
     caused as a consequence of the Mexican government's deciding to, due to the
     conduct of Entrada or Entrada Mexico, close the Facility permanently or for
     more than [**] consecutive business days. The provisions of this clause
     shall survive the termination or expiration of the Agreement.

     Entrada and Entrada Mexico represent and warrant that, to the best of their
     respective knowledge, except for Tricon's operations, no industrial
     assembly or manufacturing activities have been carried out in the Shared
     Occupancy Building and the real property on which it is constructed, and no
     industrial assembly or manufacturing activities have been carried out on
     the real property that are or will be the site of the First New Building or
     the Second New Building.

     Inmuebles Arizac, S. de R.L. de C.V. (the "LESSOR") represents and warrants
     that, to the best of its knowledge, no industrial assembly or manufacturing
     activities have been carried out on the real property that are or will be
     the site of the First New Building or the Second New Building.

     Entrada and Entrada Mexico jointly, and the Lessor severally represent and
     warrant that, to the best of their respective knowledge, neither has
     contaminated any part of the Facility or the real property on which it is
     constructed beyond the limits permitted by the applicable legal provisions,
     or have received notice that any environmental administrative proceedings
     were or have been commenced against, or with respect to, them.

     (10) Financing. CLIENT understands and acknowledges that Entrada may seek
     financing to provide the necessary capital to construct or operate the
     Facility and as a result thereof maybe required to assign or grant a
     security interest in the right to collect the Facility Fee to a third party
     lender in order to obtain the required financing. Accordingly, CLIENT
     hereby consents to such assignment of any accounts receivable with respect
     to the Facility Fee due to Entrada to any financial institution or third
     party lender, so long as CLIENT is notified in writing of such assignment.
     CLIENT further agrees to cooperate in providing said financial institution
     or third party lender reasonable financial information required in order to
     obtain said financing. Additionally, CLIENT agrees to execute all
     reasonable documents required by said financial institution or third party
     lender to effectuate and/or perfect said assignment. Entrada acknowledges
     and understands that nothing herein will be deemed to grant or authorize
     the granting of any security interest in CLIENT's Equipment, Materials,
     Products, tools, or other property located in the Facility or used by
     Entrada to fulfill its obligations under the Agreement.

     (11) Succession as Lessee. If CLIENT terminates the Agreement pursuant to
     Section 9 thereof as a result of a Bankruptcy Proceeding of, or a Material
     Breach by Entrada or Entrada Mexico, that occurs more than 12 months after
     the execution of the Agreement,, then, in the absence of the

<PAGE>

     Lease Termination Circumstances, as defined and used in such Section 9,
     CLIENT will automatically, with no further instruments being required to be
     executed, succeed to: (a) all rights of lessee under the Lease for the
     First New Building and the Second New Building, and (b) all legal duties of
     lessee to Lessor under the Lease for the First New Building and the Second
     New Building, but only to the extent such duties arise on or after the
     effective date of CLIENT's succession as lessee under the Lease for the
     First New Building and the Second New Building.

     Until such succession by CLIENT to the rights and obligations of the lessee
     under the Lease for the First New Building and the Second New Building,
     Entrada and Entrada Mexico shall pay the rent when due under the Lease,
     shall be responsible for penalties for late payment, and shall abide by all
     other covenants, conditions, representations, promises and other agreements
     set forth in the Lease.

     CLIENT will not be required to pay the Facility Fee that would otherwise be
     applicable to the period after the effective date of CLIENT's succession as
     lessee under the Lease for the First New Building and the Second New
     Building.

     (12) Miscellaneous. Lessor hereby grants the option to Entrada Mexico, as
     lessee, to extend the term of the Lease, at any time and from time to time,
     in order to make it coterminous with the Agreement.

     In the event that Lessor wishes to sell a Facility, Lessor must first
     obtain the written consent of the purchaser to the terms and conditions of
     this Exhibit, and deliver it to CLIENT.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

<PAGE>

     (13) Lessor Consent. The undersigned Lessor executes this Exhibit for the
     sole purpose of evidencing its consent to the matters indicated above.

                                        CLIENT

                                        NxSTAGE MEDICAL, INC.

                                        By: /s/ Jeffrey J. Burbank
                                            ------------------------------------
                                        Its: President & CEO
                                        Date: 3/19, 2007

                                        ENTRADA

                                        ENTRADA PARTNERS LTD., a Texas Limited
                                        Partnership

                                        By: /s/ Paul Karon
                                            ------------------------------------
                                        Its: Global Factory, Managing Partner
                                        Date: 3/20, 2007

                                        ENTRADA MEXICO

                                        ENTRADA GROUP de MEXICO, S. de R.L. de

                                        C.V., a Mexican Corporation

                                        By: /s/ Paul Karon
                                            ------------------------------------
                                        Its:
                                             -----------------------------------
                                        Date: 3/20, 2007

LESSOR CONSENT

     The undersigned is the Lessor referred to in the foregoing and executes
this document for the sole purpose of evidencing its consent to the matters
indicated above.

Date: 3/22, 2007

                                        LESSOR

                                        INMUEBLES ARIZAC, S. de R.L. de C.V.

                                        By: /s/ illegible
                                            ------------------------------------
                                        Its: Legal Representative

<PAGE>

                                  EXHIBIT "A-2"

                                 LEASE AGREEMENT

     THIS LEASE AGREEMENT (THE "AGREEMENT") IS ENTERED INTO BY AND BETWEEN
INMUEBLES ARIZAC, S. DE R.L. DE C.V., A MEXICAN COMPANY (THE "LESSOR") AND
ENTRADA GROUP DE MEXICO, S. DE R.L. DE C.V., A MEXICAN COMPANY (THE "LESSEE"),
ACCORDING TO THE FOLLOWING RECITALS AND CLAUSES:

                                    RECITALS

I.   LESSOR, through its legal representative, hereby states that:

     a.   LESSOR is the legal owner of a tract of land (the "Land") and the
          improvements built on the Land (the "Building") (the Land and Building
          are collectively referred to as the "Property") located at the
          Fresnillo Industrial Park. Fresnillo, Zacatecas, Mexico (the
          "Industrial Park"). The Property and its total usable area are more
          fully described in Exhibit "A," attached hereto and made a part hereof
          for all purposes.

     b.   The Property is zoned for light and medium industrial purposes by the
          competent authorities in Fresnillo, Zacatecas, Mexico. A Copy of
          Zoning License to be provided to CLIENT for review.

     c.   LESSOR desires to lease the Building to LESSEE in accordance with the
          terms hereof.

     d.   LESSOR's legal representative has sufficient capacity and authority to
          execute this Agreement. Copy of Lessor's Representative's Power of
          Attorney to be provided to CLIENT for review.

II.  LESSEE, through its legal representative, hereby states that:

     a.   LESSEE desires to lease the Building from LESSOR in accordance with
          the terms hereof.

     b.   LESSEE's legal representative has sufficient capacity and authority to
          execute this Agreement.

III. Both parties, through their legal representatives, hereby state that:

     a.   This Agreement is being executed free from any and all consensual
          defects.

     b.   The parties acknowledge their qualification as commercial entities in
          accordance with the Commercial Code of Mexico.

<PAGE>

     BASED ON THE FOREGOING PREMISES AND OTHER GOOD AND VALUABLE CONSIDERATION,
     THE RECEIPT AND SUFFICIENCY OF WHICH ARE HEREBY ACKNOWLEDGED, LESSOR AND
     LESSEE AGREE AS FOLLOWS:

                                     CLAUSES

FIRST: THE PROPERTY.

     LESSOR shall deliver to LESSEE the temporary use and possession of the
     Building, in accordance with the terms hereof, and LESSEE shall accept the
     delivery of same and covenants and agrees, as more fully described herein,
     to use and enjoy the Building and, on a non-exclusive basis and in
     accordance with the rules and regulations, if any, applicable to the
     Industrial Park, the parking and other areas on the Property that are
     provided for the common benefit of occupants of the Building and such
     occupants' respective guests and invitees.

SECOND: USE AND ENJOYMENT OF THE PROPERTY.

     LESSOR states that it has clear, absolute and complete ownership of the
     Property, and LESSEE shall have the uninterrupted, quiet use and enjoyment
     of same.

     Similarly, LESSOR and LESSEE agree that, as provided in the Civil Code for
     the State of Zacatecas, this Agreement shall survive any ownership
     conveyance with respect to the Property or the foreclosure of any lien or
     mortgage of LESSOR and/or its assignees, transferees, successors and any
     and all other third parties in the chain of title of the Property, and that
     any default in payment of such liens or mortgages shall in no way prejudice
     the terms of this Agreement or any extensions hereof. Any amendments to
     such liens or mortgages or any new liens or mortgages covering all or part
     of the Property shall contain a provision acknowledging the existence,
     validity, priority and duration of this Agreement.

THIRD: DELIVERY OF THE PROPERTY.

     LESSOR shall deliver the Building to LESSEE on or about May 1, 2007
     (hereinafter the date of "Initiation of the Lease").

     LESSOR represents and warrants that the Building is in compliance with the
     construction, urban development, zoning, environmental, construction
     density, and other applicable laws, codes, regulations, ordinances and
     norms.

FOURTH: USE OF THE PROPERTY.

     LESSOR acknowledges that LESSEE intends to use the Building as a location
     for the manufacture and assembly of the products (the "Production
     Operations") of its client (the "CLIENT") pursuant to a Shelter Agreement
     (the "Shelter Agreement") executed by the CLIENT, LESSEE and LESSEE's
     affiliate, Entrada Partners, a Texas limited partnership

<PAGE>

     ("Entrada Partners"). The term "Building," as used herein with respect to
     CLIENT's obligations, means that portion of the edifice on the Property
     that is used for the Production Operations of CLIENT pursuant to the
     Shelter Agreement.

     LESSEE shall use the Building for its manufacturing, office and related
     operations and shall comply with all applicable laws and regulations with
     respect to the level of noise generated by the use of the Building.

FIFTH: LEASE PRICE.

     Beginning on the Initiation of the Lease, LESSEE shall pay monthly lease
     payments (such payments are referred to hereinafter as "lease payments" or
     "rent") equivalent to U.S. $[**] U.S. Cents) per square foot, plus the
     applicable value added tax. Taking into account that the Building has a
     total area of 35,780 square feet, as shown on the floor plan attached
     hereto as Exhibit "A-1," the total monthly rental is equal to U.S. $[**]
     U.S. Dollars), plus the applicable value added tax. The monthly rental
     amount shall be adjusted annually by an amount equal to the percentage
     increase, if any, in the cost of living for the preceding year based upon
     the U.S. Consumer Price Index-All Items-U.S. Cities Average, All Urban
     Consumers (1967=100) published by the Bureau of Labor Statistics of the
     U.S. Department of Labor (the "CPI"). In the event the Index ceases to be
     published, the most comparable substitute (the "Substitute Index") will be
     used thereafter as selected by the mutual agreement of the parties. The
     lease payments will be paid in United States Dollars or Mexican Pesos, at
     the exclusive option of LESSEE. Lease payments in Mexican Pesos will be
     based on the official exchange rate published in the Diario Oficial de la
     Federacion on the date of payment.

     The lease payments shall be paid in advance, in monthly installments, no
     later than the [**] day of each month. All payments are to be made to
     LESSOR at the address of LESSOR set forth in Article Twenty-Third or at any
     other place indicated by LESSOR to LESSEE in writing. If any payment of
     rent or any other amount called for hereunder is not paid when due, it
     shall bear interest at the rate equal to the lesser of: (a) 1.5% per month,
     or (b) the maximum rate allowed by applicable law, from its due date until
     paid in full.

     LESSOR agrees to render to LESSEE formal Mexican invoices for the full
     amounts due in connection with this Agreement within [**] business days
     from the date of payment. The invoices must comply with all the legal and
     tax requirements and include a breakdown of the value added tax. In the
     event lease payments are made in U.S. Dollars, the corresponding invoices
     will additionally reflect the exchange rate used for converting U.S.
     Dollars to Mexican Pesos, in accordance with the terms described above.

SIXTH: TAXES AND UTILITIES.

     LESSEE shall be liable for payment of the value added tax that corresponds
     to the lease payments, and shall be entitled to refunds of said value added
     tax. In addition, LESSEE shall be obligated to pay to LESSOR, upon demand,
     all property taxes that become due

<PAGE>

     after the Initiation of the Lease. LESSOR shall be liable for the income
     tax due on lease payments and other amounts derived under this Lease.

     LESSEE shall directly contract with, and pay for all service provided by,
     public utilities it may require for the use of the Building. LESSOR
     represents that all public utility services are available at the Building.
     Availability and sufficiency of utilities shall meet the requirements set
     forth by CLIENT and shall be confirmed by LESSOR and LESSEE. LESSOR and
     LESSEE shall represent that CLIENT shall not be responsible for any amounts
     owed to utilities prior to occupancy. The parties agree that LESSEE shall
     only be responsible for the connection of, and payment for, public utility
     services that it actually uses. Any capacity of public utilities acquired
     by LESSEE from the respective utility companies will be LESSEE's property
     to the extent allowed by applicable law, and therefore LESSEE may take such
     capacity or assign it to any individual or entity that it considers
     appropriate when this Agreement terminates.

SEVENTH: MAINTENANCE.

     During the term of this Agreement, the responsibility for maintenance,
     repairs and replacements with respect to the Building shall be governed by
     the following provisions:

     1.   At or before the later of the Initiation of the Lease or its taking
          occupancy of the Building, LESSEE will have the right to inspect the
          Building thoroughly. LESSEE acknowledges and agrees that (i) LESSEE's
          payment of the first month's rent shall signify that the Building is
          in good sanitary order, condition and repair and is acceptable to
          LESSEE, and (ii) at LESSEE's sole cost and expense, it will keep the
          Building and every part thereof in good condition and repair including
          without limitation, the maintenance, replacement and repair of any
          storefront, doors, window casements, glazing, plumbing, (except
          concealed plumbing that is underground or within the walls or doors)
          pipes, electrical wiring and conduits, heating and air conditioning
          system (when there is an air conditioning system). LESSEE shall, upon
          the expiration or sooner termination of this Lease, surrender the
          Building to LESSOR in good condition, broom clean, ordinary wear and
          tear and damage from causes beyond the reasonable control of LESSEE
          excepted. Any damage to adjacent premises caused by LESSEE's use of
          the Building shall be repaired at the sole cost and expense of LESSEE,
          unless otherwise covered by applicable insurance. Damage to the
          Building or to adjacent premises caused by LESSOR, its agents,
          servants, invitees or employees, shall be repaired at the sole cost
          and expense of LESSOR, unless otherwise covered by applicable
          insurance.

     2.   Notwithstanding the provisions of Clause Seventh (1) above, LESSOR
          shall repair and maintain the structural portions of the Building,
          including, but not limited to, the exterior walls, roof (including
          leaks) underground and concealed plumbing, power distribution
          connections and telecommunications infrastructure, unless such
          maintenance and repairs are caused in part or in whole by the act,
          neglect, fault or omission of any duty by LESSEE, its agents,
          servants, employees, invitees, or any damage caused by breaking and
          entering, in which case LESSEE shall pay to LESSOR the actual cost of
          such maintenance and

<PAGE>

          repairs. LESSOR shall not be liable for any failure to make such
          repairs or to perform any maintenance unless such failure shall
          persist for an Unreasonable Time, as defined in the next paragraph,
          after written notice of the need of such repair or maintenance is
          given to LESSOR by LESSEE. Except as provided in Clause Ninth hereof,
          there shall be no abatement of rent and no liability of LESSOR by
          reason of any injury to or interference with LESSEE's business arising
          from the making of any repairs, alterations or improvements in or to
          any portion of the Building.

          As used in the preceding paragraph, the term "Unreasonable Time" means
          (i) [**] calendar days with respect to repair work or maintenance that
          is necessary not to impair the ability to operate the Building in part
          or in whole, or (ii) [**] calendar days with respect to other repair
          work or maintenance.

EIGHTH: ALTERATIONS.

     LESSEE may not make any of the following modifications or alterations
     without the express written authorization of LESSOR, which authorization
     shall not be unreasonably withheld: (i) modify the basic structure of the
     Building, (ii) modify the external appearance or the basic utility services
     of the Building, or (iii) make any other alteration that involves piercing
     of the roof. All fixtures and/or equipment of any nature installed in the
     Building by LESSEE during the term of this Agreement, whether permanently
     affixed or not, shall continue being the property of LESSEE and will be
     removed thereby at the expiration or termination of this Agreement or any
     extension hereof, unless LESSEE elects to leave them as part of the
     Building. With the exception of items (i), (ii) and (iii) of the preceding
     sentence, LESSEE is hereby authorized to make alterations to the Building
     that are reasonably necessary to Lessee's business operations in the
     Building.

NINTH: LIABILITIES OF THE PARTIES.

     1.   LESSEE and LESSOR shall each be responsible for damages to the
          Property and/or LESSEE's business caused by their own fault or
          negligence or that of their agents, employees, contractors,
          contractors' employees or visitors.

     2.   In the event that LESSEE's occupancy or use of all or any part of the
          Property is interrupted as a result of an event (the "Dispossession
          Event") that is not caused by LESSEE, whether such interruption
          results from fire, natural disaster, destruction, eminent domain,
          other governmental action, or otherwise, LESSOR shall give LESSEE
          notice (the "LESSOR Election Notice") within 30 days after the
          Dispossession Event as to whether LESSOR intends to repair or rebuild
          the affected portion of the Property. If (a) LESSOR fails to give
          LESSEE the LESSOR Election Notice within 30 days after the
          Dispossession Event, (b) LESSOR notifies LESSEE that the affected
          portion of the Property will not be rebuilt or repaired or cannot be
          rebuilt or repaired within 120 days from the date of the Dispossession
          Event, or (c) if such rebuilding or repair is commenced but is not
          substantially completed within said 120-day completion period, LESSEE
          may terminate this Agreement by giving LESSOR written notice of
          LESSEE's decision

<PAGE>

          to terminate within 30 days after LESSOR's failure to give the LESSOR
          Election Notice within the period mentioned above, LESSEE's receipt of
          LESSOR Election Notice or upon the expiration of such 120-day
          completion period, as applicable.

          If LESSOR states in LESSOR Election Notice that it will not rebuild or
          repair the affected portion of the Property, this Agreement shall
          immediately terminate as it relates to the affected portion of the
          Building, or in its entirety if all or substantially all the Building
          or its use is the subject of LESSOR Election Notice. In the event of
          termination pursuant to this paragraph, LESSEE agrees to pay, at the
          time of such termination the following amounts: (1) the entire accrued
          and unpaid rent, and (2) all other accrued and unpaid amounts payable
          by LESSEE hereunder.

          The rent payable by LESSEE with respect to the affected portion of the
          Building will be abated for the period of time that occupancy or use
          of each such affected portion of the Property is interrupted in the
          same proportion that such affected portion of the Building bears to
          the total area of the Building.

     3.   The parties to this Agreement agree as follows:

          a    Any amounts required to be paid hereunder or under applicable law
               by LESSEE to LESSOR for damage to the Building shall be reduced
               by the amount of insurance proceeds paid to LESSOR as a result of
               such damage.

          b.   Upon termination of this Agreement pursuant to the terms of this
               Clause Ninth, LESSEE shall be released and totally freed of all
               its obligations hereunder that have not accrued or been incurred
               prior to the date of receipt by LESSOR of LESSEE's written notice
               of termination. LESSOR shall immediately return to LESSEE any
               prepaid rent, unless LESSEE owes any amounts to LESSOR, in which
               case LESSOR may offset the amounts so owed by LESSEE.

TENTH. ENVIRONMENTAL REPRESENTATIONS.

     LESSOR represents and warrants to LESSEE as follows:

          a.   That, to the best of LESSOR's knowledge, there are not any
               outstanding, pending or threatened orders, directives or other
               requirements of any governmental body having jurisdiction
               relating to compliance with environmental laws, regulations and
               norms at the Property or the presence of Hazardous Substances on
               the Property, and that LESSOR does not have any knowledge of, and
               is not now, and has not been, negotiating or otherwise
               corresponding in any manner with any governmental body having
               jurisdiction with respect to any alleged violation of
               environmental laws, regulations and norms relating to the
               Property.

<PAGE>

          b.   That, to the best of LESSOR's knowledge, during LESSOR's
               ownership, no substance (each, a "Hazardous Substance") that is a
               contaminant or other material deemed to be hazardous under the
               applicable environmental legal provisions have been stored,
               treated or disposed of by LESSOR or any other person or entity
               at, on or under the Property, and that there are no underground
               storage tanks on the Property.

          c.   That a Phase 1 environmental study, attached hereto as Exhibit
               "B," has been carried out, and that no contamination beyond the
               limits permitted by the applicable legal provisions was detected.

          d.   That, to the best of LESSOR's knowledge, until now, the only
               lessees of, and activities that have been carried out in the
               Property are listed in the document that is attached as Exhibit
               "C," and that none of them contaminated any part of the Property
               beyond the limits permitted by the applicable legal provisions,
               or had any environmental administrative proceedings commenced
               against, or with respect to, them.

          e.   LESSOR covenants and agrees to indemnify LESSEE and save LESSEE
               harmless from and against all losses, costs, claims, demands,
               suits, actions, damages and expenses that LESSEE may sustain,
               incur or be or become liable for by reason or arising from the
               presence, clean up or removal of any Hazardous Substances that
               were introduced to, or existed on the Property prior to the
               effective date hereof, at, on or under the Property or arising
               from or out of the discharge of any Hazardous Substances into the
               environment or onto adjoining property, or compliance with any
               environmental laws, regulations and norms, including any clean
               up, decommissioning, restoration or remediation of the Property.

          f.   From and after such date, if any, upon which CLIENT assumes the
               obligations of LESSEE under this Agreement, LESSOR covenants and
               agrees to indemnify LESSEE and save LESSEE harmless from and
               against all losses, costs, claims, demands, suits, actions,
               damages and expenses that LESSEE may sustain, incur or be or
               become liable for by reason or arising from the presence, clean
               up or removal of any Hazardous Substances that are introduced to,
               or exist on the Property subsequent to the effective date hereof,
               at, on or under the Property or arising from or out of the
               discharge of any Hazardous Substances into the environment or
               onto adjoining property, or compliance with any environmental
               laws, regulations and norms, including any clean up,
               decommissioning, restoration or remediation of the Property, due
               to actions or inactions of third parties other than third parties
               hired by LESSEE.

     LESSEE represents and warrants to LESSOR as follows:

<PAGE>

          a.   LESSEE is responsible for obtaining any and all environmental
               permits, authorizations and filing any preventive reports or
               environmental impact statements that are required by law in
               connection with its industrial activities carried out at the
               Property.

          b.   LESSEE covenants and agrees to indemnify LESSOR and save LESSOR
               harmless from and against all losses, costs, claims, demands,
               suits, actions, damages and expenses that LESSOR may sustain,
               incur or be or become liable for by reason or arising from the
               presence, clean up or removal of any Hazardous Substances brought
               on, and released on, the Property by LESSEE during the term of
               the Lease, including any clean up, decommissioning, restoration
               or remediation of the Property, but only to the extent that such
               clean up, decommissioning, restoration or remediation is caused
               by LESSEE's bringing on to the Property or releasing Hazardous
               Substances.

ELEVENTH: THIRD PARTY OCCUPANCY.

     In the event of a default hereunder by LESSEE or in the event of an early
     termination of the Shelter Agreement by CLIENT, pursuant to Section 9 of
     the Shelter Agreement, which Section is incorporated herein by this
     reference, as a result of a Bankruptcy Proceeding of, or a Material Breach
     by Entrada or Entrada Mexico (as such terms are defined in the Shelter
     Agreement), that occurs more than 12 months after the execution of the
     Shelter Agreement, then, in the absence of the Lease Termination
     Circumstances, as defined and used in Section 9 of the Shelter Agreement,
     CLIENT will automatically, with no further instruments being required to be
     executed, succeed to: (1) all rights of LESSEE under this Lease, and (2)
     subject to the remaining provisions of this Clause Eleventh, all legal
     duties of LESSEE to LESSOR under the Lease, but only to the extent such
     duties arise on or after the effective date of CLIENT's succession to
     LESSEE.

     In the case of such succession, the CLIENT will substitute for LESSEE under
     the rules of novation, and LESSOR hereby agrees to such novation and shall
     consider the CLIENT as LESSEE for the remainder of the term of this Lease
     pursuant to its terms and conditions. Until such succession, Entrada Mexico
     shall pay the rent when due, shall be responsible for penalties for late
     payment, and shall abide by all other covenants, conditions,
     representations, promises and other agreements set forth in the Lease.

TWELFTH: INSURANCE.

     1.   During the term of this Agreement, LESSEE will obtain and maintain in
          force, at LESSEE's expense, fire and casualty insurance issued by a
          reputable Mexican insurance company in an amount that represents the
          cost of the reconstruction of the Building pursuant to the legal
          provision in effect at the time of reconstruction.

     2.   LESSEE will provide and maintain, or cause to be provided and
          maintained, a policy of general liability insurance covering the
          activities at the Building with minimum coverage limits of $1,000,000
          per occurrence naming LESSEE and its parent and

<PAGE>

          affiliate Companies, as appropriate, as beneficiaries and loss payees.
          In addition LESSOR shall be named as additional insured

     3.   LESSEE and LESSOR waive any and all rights of subrogation against each
          other and against all contractors, subcontractors, materialmen,
          vendors, consultants, agents and employees of each other for insured
          damages and lost profits, including, but not limited to, damages
          sounding in civil liability, strict liability, warranty, negligence or
          strict products liability; provided, this provision shall not be
          effective if it prevents LESSEE'S ability to obtain appropriate
          insurance.

     4.   LESSEE and the CLIENT shall obtain and maintain insurance to cover its
          personal property located at the Building.

     5.   All the insurance provided in this clause shall be obtained and
          evidenced under valid and enforceable policies issued by insurers
          authorized to do business in Mexico and acceptable to LESSOR.

     6.   All policies of property insurance herein provided shall designate
          LESSOR and LESSEE as the insured as their respective interests may
          appear in the covered property.

     7.   In case of casualty that results in damage to, or destruction of the
          Building, LESSEE shall give written notice to LESSOR, which agrees to
          promptly file a claim under the appropriate insurance policy, and to
          pursue such claim to its conclusion diligently thereafter.

     8.   The sum of insurance proceeds that are paid as a result of such damage
          or destruction, less any costs, fees and expenses, if any, incurred in
          connection with adjustment of the loss, shall be used by LESSOR for
          the purposes of restoring, replacing, rebuilding or repair of the
          Building as nearly as possible to its original value, condition and
          character existing immediately prior to such damage or destruction to
          the extent LESSOR is obligated to restore or replace the Building
          pursuant to this Lease.

THIRTEENTH: TERM.

     The term of this Agreement shall be for a period of sixty (60) months,
     beginning on ________ __, 2007, and ending on ___________ __, 2012. LESSEE
     will have the option to extend the above term for as long as necessary to
     make it coterminous with the Shelter Agreement. LESSOR acknowledges that
     this Lease will continue in effect in its terms even if LESSOR should
     transfer title to the Property to a third party.

FOURTEENTH: SURRENDER OF THE PROPERTY.

     LESSEE shall, on the last day of the term of this Agreement or of its
     extension or upon early termination, surrender and deliver on the
     corresponding date the Building to the possession and use of LESSOR,
     without delay, in the same condition in which LESSEE received such, except
     for the normal wear and tear, and damage from causes beyond the

<PAGE>

     reasonable control of LESSEE. All signs and inscriptions of similar nature
     installed by LESSEE shall be removed on or prior to the expiration of the
     term of this Agreement.

     All leasehold improvements, furniture, trade fixtures, machinery and
     business equipment installed by LESSEE shall remain as property of LESSEE
     and shall be removed by LESSEE no later than at the end of the term of this
     Agreement, as it may be extended, unless LESSEE at the expiration or
     termination of this Agreement or any extension hereof elects to leave them
     as part of the Building. LESSEE shall, at its own expense, repair all
     damages resulting from the installation and removal of such leasehold
     improvements, furniture, trade fixtures, machinery and business equipment.

FIFTEENTH: LESSOR'S RIGHT TO PERFORM LESSEE'S COVENANTS.

     If at any time during the term of this Agreement or any extension of same,
     LESSEE fails to perform one or more of its obligations assumed in this
     Agreement, LESSOR, after [**] days written notice to LESSEE (or immediately
     and without notice in the case of emergency), and without waiving or
     releasing LESSEE from any of its obligations contained in this Agreement,
     may, but shall be under no obligation to, perform acts that LESSEE has
     agreed to perform in accordance to this Agreement. All reasonable sums paid
     by LESSOR in connection with the performance of any such obligations of
     LESSEE shall be payable by LESSEE to LESSOR on demand.

SIXTEENTH: LESSEE'S RIGHT TO PERFORM LESSOR'S COVENANTS.

     If at any time during the term of the Agreement or any extension of same,
     LESSOR fails to perform one or more of its obligations assumed in this
     Agreement, LESSEE after [**] calendar days written notice to LESSOR (or
     immediately and without notice in the case of emergency), and without
     waiving or releasing LESSOR from any of its obligations contained in this
     Agreement, may, but shall be under no obligation to, perform acts that
     LESSOR has agreed to perform in accordance to this Agreement. All
     reasonable sums paid by LESSEE in connection with the performance of any
     such obligations of LESSOR shall be payable by LESSOR to LESSEE on demand.

SEVENTEENTH: ENTRY ON THE PROPERTY BY LESSOR.

     LESSEE shall permit LESSOR and its authorized representative to enter the
     Building at all reasonable times, upon [**] notice, for the purpose of
     inspecting same and performing any necessary work therein, following
     reasonable notice by LESSOR, except in the case of any emergency, for which
     no notice will be required. Notwithstanding the above, LESSOR shall not in
     any way interfere with LESSEE'S operations when entering the Building.

<PAGE>

EIGHTEENTH: HOLD HARMLESS.

     LESSOR agrees to indemnify, defend and hold LESSEE harmless against any
     liabilities, including fines and charges incurred by, or imposed on, LESSEE
     as a direct or indirect result of any act or omission of LESSOR.

     LESSEE agrees to indemnify, defend and to hold LESSOR harmless against any
     liabilities, including fines or charges incurred by, or imposed on, LESSOR
     as a direct or indirect result of any negligent act or omission of LESSEE.

NINETEENTH: SUBORDINATION.

     LESSEE agrees that this Lease and the entire interest of LESSEE hereunder
     are subject and subordinated to (a) all present mortgages, deeds of trust
     or other lien instruments affecting the Property that have been executed by
     LESSOR (each a "Current Lien"), and (b) each future mortgage, deed of trust
     or other lien instrument affecting the Property that is hereafter executed
     by LESSOR, and to which LESSEE hereafter gives its express written consent
     (each a "Future Lien"). In addition to the conditions of the immediately
     preceding sentence, the holder (the "Lienholder") of each Current Lien and
     of each Future Lien to which this Lease is acknowledged or agreed to be
     subordinate in accordance with this Article Nineteenth (each of such liens
     is referred to hereinafter as a "Lien") (i) must recognize LESSEE's rights
     under this Lease, and (ii) must agree that LESSEE's rights hereunder will
     not be disturbed as long as LESSEE is not in default hereunder beyond any
     applicable cure period. In the event of a sale or assignment of LESSOR's
     interest in the Building, or in the event of a foreclosure proceeding or
     exercise of the power of sale under any Lien affecting the Building, LESSEE
     shall attorn to the purchaser and recognize such purchaser as LESSOR. This
     paragraph, which will be binding on the CLIENT upon its succession to
     LESSEE's obligations pursuant to Article Eleventh, is self-operative and no
     further instruments are required to give effect to its terms.

     LESSEE acknowledges and agrees that LESSOR's interest under this Lease,
     including LESSOR's rights to collect lease payments and other amounts due
     under this Lease, may be assigned by LESSOR to a Lienholder, and LESSOR
     hereby authorizes and directs LESSEE to make all payments and to perform
     all its obligations hereunder as directed by the Lienholder in writing.
     LESSOR hereby relieves LESSEE from any liability to LESSOR by reason of
     following the directions of the Lienholder.

TWENTIETH: MODIFICATION TO THE CONTRACTUAL DOCUMENTS.

     Any modification, release or discharge of this Agreement or waiver of any
     of the provisions thereof, shall not be valid or obligatory, unless made in
     writing and signed by LESSOR and LESSEE. The parties agree that (a) no
     lease payments will be required or made hereunder more than 30 days in
     advance, and (b) unless otherwise provided herein, no modifications of this
     Lease will be effective, without the written consent of the Lienholder if
     any Lien is then in effect. For these purposes, LESSOR will give LESSEE

<PAGE>

     and CLIENT written notice, in advance, of the existence and identity of any
     Lienholder and Lien.

TWENTY-FIRST: SOLE CONTRACTUAL DOCUMENT.

     The parties agree that this Agreement and the exhibits referenced herein
     contain all the obligations and agreements between the parties relating to
     the subject matter hereof, and, therefore, this Agreement is the sole
     contractual document executed between the parties relating to the subject
     matter hereof, and replaces any other agreement, either oral or written,
     between the parties relating to the subject matter hereof.

TWENTY-SECOND: APPLICABLE LAW AND JURISDICTION.

     This Agreement shall be subject to the provisions of the Civil Code of the
     State of Zacatecas, Mexico. LESSOR and LESSEE expressly agree to submit
     themselves to the jurisdiction of the competent courts of Fresnillo,
     Zacatecas, Mexico, waiving any other jurisdiction and law that might
     correspond by reason of their present or future domiciles or for any other
     reason whatsoever.

TWENTY-THIRD: NOTICES.

     All notices, demands and requests called for in this Agreement shall be
     made through writing and shall be deemed to have been properly given (i)
     upon the date of receipt, if served personally or (ii) upon date of
     receipt, if sent by overnight courier, with proof of receipt, addressed to
     LESSOR or LESSEE, as the case may be, at the respective addresses last
     designated by notice to the other party for that purpose. Until the parties
     designate other addresses, their addresses shall be as follows:

     LESSOR:         Inmuebles Arizac, S. de R.L. de C.V.
                     c/o Tunicco LLC
                     2200 E. River Road, Suite 105, Tucson, AZ 85718
                     Attention: Mr. Terry Klipp

     LESSEE:         At the Building
                     Attention: Mr. Douglas Wilson

     With copy to:   Mr. Paul Karon
                     Entrada Partners
                     236 Castano
                     San Antonio, Texas, 78209

TWENTY-FOURTH: TRANSLATION.

     This Agreement is prepared in English and Spanish. In case of
     inconsistencies, the English version will prevail.

<PAGE>

     IN WITNESS WHEREOF, the parties are obligated in accordance with the terms
of this Agreement, which is entered into on 3/20, 2007.

LESSOR:                                    LESSEE:

                                           ENTRADA GROUP DE MEXICO, S. de
INMUEBLES ARIZAC, S. de R.L. de C.V.       R.L. de C.V.

By: /s/ Terry Klipp                        By: /s/ Paul Karon
    ------------------------------------       ---------------------------------
Name: Mr. Terry L. Klipp                   Name: Mr. Paul Karon
Its: Legal Representative                  Its: Legal Representative

WITNESS:                                   WITNESS:

/s/ Kimberly O. Sloan                      /s/ Douglas Donahue
----------------------------------------   -------------------------------------
Name: Kimberly O. Sloan                    Name: Douglas Donahue
Address: 2200 E. River Road, #105          Address: 148 Morningside
         Tucson, AZ 85718                           San Antonia, TX 78209

<PAGE>

EXHIBITS

Exhibit "A"     Site Plan of the Property

Exhibit "A-1"   Floor Plan of Building

Exhibit "B"     Copy of Phase 1 Environmental Study

Exhibit "C"     List of previous lessees and their activities in the Property

<PAGE>

Exhibit A

Site Plan of NxStage Medical

[**]

<PAGE>

Exhibit A-1 of Lease Agreement

"First New Building"

[**]

<PAGE>

EXHIBIT B - COPY OF PHASE 1 ENVIRONMENTAL STUDY

Copy attached hereto.  Original retained by NxStage

<PAGE>

                                     PHASE I
                          ENVIRONMENTAL SITE ASSESSMENT

              FOR THE EVALUATION OF POTENTIALLY HAZARDOUS MATERIALS

                    APPROXIMATELY 39.76 ACRES OF VACANT LAND
                           PARQUE INDUSTRIAL FRESNILLO
                        CARRETERA FRESNILLO-PLATEROS KM 2
                          FRESNILLO, ZACATECAS, MEXICO

                                  PREPARED FOR:

                                ENTRADA PARTNERS
                               236 W. CASTANO AVE.
                            SAN ANTONIO, TEXAS 78209

KAREN J. DOWNEY                                    /s/ KAREN J. DOWNEY
SITE INSPECTOR                                     -----------------------------
                                                   SIGNATURE

KIM MCLEAN, P.G.                                   /s/ KIM MCLEAN
PROJECT MANAGER                                    -----------------------------
                                                   SIGNATURE

                                FEBRUARY 15, 2007

                                  PREPARED BY:

                      (MCLEAN ENVIRONMENTAL SERVICES LOGO)

                             2002 SPRING FIELD ROAD
                              HOUSTON, TEXAS 77062

                   PHONE 281.286.0925     WWW.MCLEANENV.COM
                    FAX 281.280.0429    MCLEAN@MCLEANENV.COM

<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<S>   <C>   <C>                                                                         <C>
1.0   Executive Summary..............................................................    1

2.0   Introduction...................................................................    3
      2.1   Purpose and Organization of Report.......................................    3
      2.2   Limitations..............................................................    3
      2.3   Information Sources......................................................    4

3.0   Site Overview..................................................................    5
      3.1   Site Location and Description............................................    5
      3.2   Legal Description........................................................    5
      3.3   Improvements on the Site.................................................    5
      3.4   Current Uses of the Site.................................................    5
      3.5   Past Uses of the Site....................................................    5
      3.6   Current and Past Uses of Adjoining Properties............................    5
      3.7   Site Map.................................................................    6

4.0   Historical Review..............................................................    7
      4.1   Property Ownership.......................................................    7
      4.2   Historical Aerial Photographs............................................    7
      4.3   Interviews...............................................................    7
      4.4   Previous Environmental Studies...........................................    8

5.0   Environmental Setting..........................................................    9
      5.1   Topography...............................................................    9
      5.2   Soils....................................................................    9
      5.3   Geology & Hydrology......................................................    9
      5.4   Groundwater..............................................................    9

6.0   Site Reconnaissance............................................................   10
      6.1   Hazardous Substances in Connection with Identified Uses..................   10
      6.2   Hazardous Substance Containers and Unidentified Substance Containers.....   10
      6.3   Onsite Storage Tanks.....................................................   10
      6.4   Indications ofPCBs.......................................................   10
      6.5   Indications of Solid Waste Disposal......................................   10
      6.6   Physical Setting Analysis - Migrating Hazardous Substances...............   10
      6.7   Other Conditions of Concern..............................................   11

7.0   Regulatory Review..............................................................   13
      7.1   Hierarchy of Regulations.................................................   14
      7.2   General Law of Ecological Equilibrium and Environmental Protection.......   15
      7.3   National Water Commission (CNA)..........................................   15

8.0   Findings, Opinions, Conclusions & Recommendations..............................   16
      8.1   Findings.................................................................   16
      8.2   Opinions.................................................................   16
      8.3   Conclusions..............................................................   16
</TABLE>

<PAGE>

<TABLE>
<S>   <C>   <C>                                                                         <C>
      8.4   Recommendations..........................................................   16

9.0   Appendices.....................................................................   18

            APPENDIX A   FIGURES
            APPENDIX B   SITE PHOTOGRAPHS
            APPENDIX C   QUALIFICATIONS
            APPENDIX D   LETTER OF ENGAGEMENT
            APPENDIX E   GLOSSARY OF TERMS
</TABLE>

29.76 ACRES OF VACANT LAND
PARQUE INDUSTRIAL FRESNILLO                        ENVIRONMENTAL SITE ASSESSMENT
FRESNILLO, ZACATECAS, MEXICO                                              PAGE 1

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1.0  EXECUTIVE SUMMARY

PHASE I ENVIRONMENTAL SITE ASSESSMENT (ESA)

<TABLE>
<CAPTION>
CLIENT:                    Entrada Partners
-------                    ----------------
<S>                        <C>
PROPERTY:                  The subject property (hereinafter the Site) consists
                           of approximately 29.76 acres (12.044 hectares) of
                           vacant land situated within Parque Industrial
                           Fresnillo, located at Km. 2 Carretera
                           Fresnillo-Plateros, Fresnillo, state of Zacatecas,
                           Mexico.

INSPECTION DATE:           The Site was inspected on February 3, 2007, by Karen
                           J. Downey of McLean Environmental Services.

BRIEF ASSET DESCRIPTION:   The Site is approximately 29.76 acres of vacant,
                           unimproved land located within Parque Industrial
                           Fresnillo.

                           The Site is bordered on the northwest by Circuito
                           Fresnillo-Poniente, MG Electronics, Aircraft, and
                           Creaciones; on the northeast by Leche Lala, Corona,
                           and Circuito Fresnillo Norte; on the southeast by
                           vacant land and a university; and on the southwest by
                           Circuito Fresnillo-Sur, and an electric transmission
                           station, vacant land, and a residential subdivision
                           across Circuito Fresnillo-Sur.

HISTORICAL REVIEW:         Information on the historical use of the Site was
                           obtained from an interview with Mr. Diego Delgado,
                           manager of environmental health and safety for
                           Entrada Group, and Mr. Angel Aguirre Campos, engineer
                           with Construccion y Mantenimiento Industrial Comain,
                           SA. de C.V. These gentlemen stated that Entrada Group
                           has owned Parque Industrial Fresnillo since 2004. At
                           that time of the purchase of the Site, three
                           companies had been located at the Site since
                           approximately 2000. Prior to current development as
                           an industrial park, the Site was vacant land owned by
                           the State of Zacatecas, Mexico.

                           There were no obvious recognized areas of
                           environmental concern noted during the historical
                           review.

AGENCY INFORMATION:        The following government agency was consulted: the
                           Instituto Nacional de Estadistica, Geografia e
                           Informatica (INEGI).

FINDINGS:                  The Site is located within an industrial park.

                           Numerous piles of discarded construction materials
                           were observed
</TABLE>

29.76 ACRES OF VACANT LAND
PARQUE INDUSTRIAL FRESNILLO                        ENVIRONMENTAL SITE ASSESSMENT
FRESNILLO, ZACATECAS, MEXICO                                              PAGE 1

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<TABLE>
<S>                        <C>
                           on the northwesternmost section of the Site during
                           the inspection.

OPINIONS:                  According to Entrada Group representatives, the
                           occupants of the industrial park will be light
                           industrial, storage and distribution businesses. The
                           risk of environmental concern from planned operations
                           at the industrial park is considered de minimus.

                           According to Entrada Group representatives, the
                           construction materials will be utilized in leveling
                           areas of the Site prior to building construction. The
                           risk of environmental concern from this discarded
                           construction debris is considered de minimus.

                           The Site appears to have always been vacant land with
                           no obvious, potential environmental concerns due to
                           its past history.

CONCLUSIONS:               This assessment has revealed no evidence of
                           recognized environmental conditions in connection
                           with the Site.

RECOMMENDATIONS:           MES recommends no additional environmental studies at
                           this time.
</TABLE>

29.76 ACRES OF VACANT LAND
PARQUE INDUSTRIAL FRESNILLO                        ENVIRONMENTAL SITE ASSESSMENT
FRESNILLO, ZACATECAS, MEXICO                                              PAGE 2

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2.0  INTRODUCTION

     2.1  PURPOSE AND ORGANIZATION OF REPORT

          2.1.1 PURPOSE

          This Phase I Environmental Site Assessment (ESA) seeks to identify, to
          the extent feasible pursuant to the processes prescribed in Hie
          American Society for Testing and Materials (ASTM) Bulletin E 1527-00,
          recognized environmental conditions in connection with the Site.

          This Phase I ESA was prepared for the exclusive use oiEntrada
          Partners. This study is intended to be used in providing a baseline
          documentation of the current condition of the Site, and also to
          identify environmental liabilities, potential problems, or aesthetic
          concerns that might stem from current or past Site activities.

          2.1.2 SCOPE

          The study included a site visit, a review of site history and an
          assessment of the condition of the property. The information used in
          the assembling of this Phase I ESA was accumulated during a site
          visit; personal interviews; a review of aerial photographs; and a
          review of readily available federal, state, and local regulatory
          agency records.

     2.2  LIMITATIONS

     This ESA is written for the Site as is and does not take into account any
     future changes. While impossible to ever guarantee that a site is totally
     free of contamination, McLean Environmental Services (MES) believes that
     reasonable inquiry regarding the Site has been made and that further
     investigation for potential environmental liabilities not already
     identified is not warranted.

     Under no circumstances does MES accept responsibility for conditions at the
     Site, whether those conditions are identified in this report or not, to the
     extent that MES neither caused nor contributed to the conditions. MES is
     not responsible for the accuracy of information provided by others.

     This Phase I ESA has been prepared for the exclusive use and reliance
     oiEntrada Partners. The dissemination of this report or portions thereof to
     third parties without the written consent MES and Entrada Partners is
     prohibited. Reliance on the information and conclusions presented in this
     ESA by a third party is prohibited. MES assumes no liability or
     responsibility for the interpretation of this information, or any actions
     taken as a result of such interpretation, by any third party.

     The following limitations were encountered during the preparation of this
     assessment:

29.76 ACRES OF VACANT LAND
PARQUE INDUSTRIAL FRESNILLO                        ENVIRONMENTAL SITE ASSESSMENT
FRESNILLO, ZACATECAS, MEXICO                                              PAGE 3

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<TABLE>
<S>                                          <C>
     Access Limitations                      Interiors of the buildings within
                                             the industrial park were not
                                             accessible. All dangerous chemical
                                             warehouses were locked and were
                                             only observed through chain-link
                                             fencing.

     Physical Obstructions to                None
     Observations

     Outstanding Information Requested       None

     Other                                   None
</TABLE>

     Limitations and exceptions to the American Society for Testing and
     Materials (ASTM) Bulletin E1527-00 scope of work for the preparation of
     this assessment are as follows:

     Regulatory Agency Records are not readily available in Mexico.

     Historical information such as historical aerials, historical topographic
     maps and historical telephone directories area not readily available for
     this Site.

     The topographic map of the Site area was not readily available.

     The historical information presented in this report is generally limited by
     the extent of the knowledge of those persons interviewed. Government
     records (e.g., title searches) were not obtained.

     If additional pertinent information is discovered following submission of
     this report, it should be forwarded to MES for review and reevaluation of
     recommendations and conclusions.

     2.3  INFORMATION SOURCES

     Information on the historical use of the Site was obtained primarily from
     an interview with Mr. Diego Delgado, manager of environmental health and
     safety for Entrada Group, and Mr. Angel Aguirre Campos, engineer with
     Construccion y Mantenimiento Industrial Comain, S.A. de C.V. Government
     records (geologic and soil maps) were obtained from the offices of INEGI.
     In addition, information obtained during the on-site reconnaissance
     includes a review of Site records and visual information obtained and
     recorded in the form of photographs and notes.

     Surrounding land usage was determined by interviews and inspecting the
     perimeter of the Site.

29.76 ACRES OF VACANT LAND
PARQUE INDUSTRIAL FRESNILLO                        ENVIRONMENTAL SITE ASSESSMENT
FRESNILLO, ZACATECAS, MEXICO                                              PAGE 4

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3.0  SITE OVERVIEW

     3.1  SITE LOCATION AND DESCRIPTION

          3.1.1 LOCATION

          The Site is approximately 29.76 acres of vacant, unimproved land
          situated within Parque Industrial Fresnillo, located at Km. 2
          Carretera Fresnillo-Plateros, Fresnillo, state of Zacatecas, Mexico.
          The exact location is denoted on the Site Location Map in Appendix A.

          3.1.2 DESCRIPTION

          The Site consists of approximately 29.76 acres of vacant,
          predominantly unimproved land and is irregularly shaped.

     3.2  LEGAL DESCRIPTION

     A legal description of the Site was not available.

     3.3  IMPROVEMENTS ON THE SITE

     At the time of the inspection, the Site was unimproved vacant land except
     for the initial stages of a building located southwest of Leche LaLa.

     3.4  CURRENT USES OF THE SITE

     The Site is vacant land situated within an industrial park.

     3.5  PAST USES OF THE SITE

     According to representatives of Entrada Group, the Site has always been
     vacant land.

     3.6  CURRENT AND PAST USES OF ADJOINING PROPERTIES

     The Site is bordered on the northwest by Circuito Fresnillo-Poniente and
     the developed portion of Parque Industrial Fresnillo; on the northeast by
     Leche Lala, Corona, and Circuito Fresnillo-Norte and Calle Plateros,
     followed by vacant land; on the southeast by vacant land and Zacatecas
     Polytechnic University; and on the southwest by Circuito Fresnillo-Sur, and
     an electric transmission station, vacant land, and a residential
     subdivision across Circuito Fresnillo-Sur.

     Leche Lala is milk distribution entity. The adjacent property occupied by
     Corona is a beer processing plant.

     Adjacent to the Site to the northwest are MG Electronics, Aircraft, and a
     vacant building that was occupied by Aramark.

29.76 ACRES OF VACANT LAND
PARQUE INDUSTRIAL FRESNILLO                        ENVIRONMENTAL SITE ASSESSMENT
FRESNILLO, ZACATECAS, MEXICO                                              PAGE 5

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     The names of the current occupants of the Parque Industrial Fresnillo and
     their activities are given in the following table:

<TABLE>
<CAPTION>
          OCCUPANT                             ACTIVITY                   YEAR OF OCCUPATION
---------------------------   ---------------------------------------   ---------------------
<S>                           <C>                                       <C>
Gilbarco Veeder-Root          Manufactures pumps for combustibles                2004
Tricon                        Manufactures injection plastics                    2005
MCA                           Electronics assembly                              2004-5
Electrex                      Assembles automotive electric harnesses            2006
MG Electronics                Manufactures harnesses for Sears                   2006
Aircraft                      Manufactures aeronautic parts                      2007
Talport                       Currently vacant                          [Will occupy in March
                                                                                2007]
Chata                         Assembles automotive harnesses                     2006
Bowles Fluidics Corporation   Produces windshield wiper fluids                 Mid-2006
Johnson Rubber Company        Manufactures injection plastics                  Mid-2006
</TABLE>

     Between 2000 and 2005, Tymex occupied the Gilbarco building, producing
     athletic shoes. The building currently occupied by Electrex served as an
     employee dining hall for Tymex employees between 2000 and 2005. Between
     2000 and November, 2006, Aramark, a company producing apparel, occupied the
     building that Talport has purchased and will occupy beginning in March,
     2007.

     3.7  SITE MAP

     A site map is presented as Site Drawing in Appendix A. This shows major
     features of the Site and highlights any areas of potential environmental
     concern.

29.76 ACRES OF VACANT LAND
PARQUE INDUSTRIAL FRESNILLO                        ENVIRONMENTAL SITE ASSESSMENT
FRESNILLO, ZACATECAS, MEXICO                                              PAGE 6

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4.0  HISTORICAL REVIEW

     4.1  PROPERTY OWNERSHIP

     Information on the historical use of the Site was obtained primarily from
     an interview with Mr. Diego Delgado, manager of environmental health and
     safety for Entrada Group, and Mr. Angel Aguirre Campos, engineer with
     Construccion y Mantenimiento Industrial Comain, S.A. de C.V. Government
     records (i.e. title searches) were not obtained.

     According to Messrs. Delgado and Aguirre, Entrada Group acquired the Site
     in 2004 and developed the Site into Parque Industrial Fresnillo.

     4.2  HISTORICAL AERIAL PHOTOGRAPHS

     One historical aerial photograph (2005) of the Site was obtained from
     Google Images. The photograph depicts the perimeter of the industrial park
     and seven buildings within the park. To the north of the Site and within
     the industrial park, several commercial businesses are visible. To the
     east-southeast of the Site, Circuito Fresnillo-Norte, vacant land, Leche
     Lala, and the Corona facility are visible. To the southwest of the Site,
     Circuito Fresnillo-Sur, the university, vacant land, and a residential
     subdivision are visible.

     No obvious areas of environmental concern appear in this photograph.

     4.3  INTERVIEWS

     Mr. Diego Delgado, environmental health and safety manager with Entrada
     Group, was interviewed about the history and current status of the Site.
     Mr. Delgado has been with Entrada Group since 2004. He stated that up until
     2000, the Site was vacant, undeveloped land owned by the State of
     Zacatecas. Mr. Delgado stated that in 2000 three companies began operations
     -- Tymex, Aramark, and Creaciones -- and that these entities were light
     industrial in nature. In 2004 Entrada Group purchased a tract of land that
     encompasses the Site and began development of the industrial park.

     Mr. Delgado stated that waste chemicals and hazardous materials are removed
     from the park periodically by two companies: Ecoquim of Escobedo and Dian
     Procesos Metalurgicos of Tlajomulco.

     Mr. Delgado knew of no past spills, leaks, releases, or storage of
     hazardous materials or chemicals on the Site.

     Mr. Delgado further stated that wastewater generated on the Site will be
     treated for disposal by the City of Fresnillo, water is provided by the
     City of Fresnillo, and electricity is provided by CFE. Most of the
     businesses that will occupy the industrial park are light industrial and/or
     distribution.

29.76 ACRES OF VACANT LAND
PARQUE INDUSTRIAL FRESNILLO                        ENVIRONMENTAL SITE ASSESSMENT
FRESNILLO, ZACATECAS, MEXICO                                              PAGE 7

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     4.4  PREVIOUS ENVIRONMENTAL STUDIES

     A Phase II Environmental Site Assessment of Parque Industrial Fresnillo was
     performed by Environmental Resources Management (ERM) on November 10, 2006.
     The study stated that ten soil samples were collected from five separate
     sampling locations and were analyzed for TPH, VOCs, PAHs, heavy metals, and
     PCBs. The study concluded that "TPH, VOCs, PAHs, and PCBs were not detected
     in any of the samples at concentrations above laboratory limits of
     quantification" and that "low concentrations of [heavy] metals were
     identified" in all samples but "at concentrations well below respective
     industrial comparison criteria."

     Mr. Delgado produced an Annual Certificate of Operation issued by SMARNAT
     to Entrada Group on March 15,2006, which stated that Parque Industrial
     Fresnillo was in compliance with fundamental regulations regarding its
     atmospheric, dangerous chemicals, emissions, and transference of
     contaminants for 2005.

29.76 ACRES OF VACANT LAND
PARQUE INDUSTRIAL FRESNILLO                        ENVIRONMENTAL SITE ASSESSMENT
FRESNILLO, ZACATECAS, MEXICO                                              PAGE 8

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5.0  ENVIRONMENTAL SETTING

     5.1  TOPOGRAPHY

     The topographic map of the Site area was not readily available.

     5.2  SOILS

     According to INEGI maps, the soils underlying the plant site are classified
     as Rendzina and Lithosols.

     The Site area consists of sedimentary and igneous rocks with soils formed
     by alluvial deposits of sand, gravel, and silt. Rendzina and lithosol soils
     typify northwestern Mexico. Rendzina soil has little depth (10-15 cm),
     lying directly on top of carbonaceous material.

     5.3  GEOLOGY & HYDROLOGY

     The state of Zacatecas is located in the Great Plains section of North
     America. The uppermost formations from which the parent materials of soils
     weather are of the Cretaceous and Tertiary periods. The sedimentary
     deposits slope gently toward the Gulf of Mexico. This section of the state
     of Zacatecas receives approximately 485 millimeters of precipitation
     annually, and annual temperature is 59.4 degrees F (15.4 degrees C).

     5.4  GROUNDWATER

     Groundwater for the Fresnillo, Zacatecas, area is typically encountered at
     depths of 300 meters. These water units would most likely not be impacted
     by releases from underground storage tank systems or surface spills.

     Flow direction in these units is highly variable but is generally toward
     the nearest down gradient water body (lakes, creeks, rivers, etc.) and can
     be approximated by observing the surface topography.

     Recharge areas for these perched aquifers are very local, and they can be
     influenced by surface development of impervious cover (buildings, parking
     lots, roads), major road construction (underpasses, utility trenches), and
     variations in annual rainfall.

29.76 ACRES OF VACANT LAND
PARQUE INDUSTRIAL FRESNILLO                        ENVIRONMENTAL SITE ASSESSMENT
FRESNILLO, ZACATECAS, MEXICO                                              PAGE 9

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6.0  SITE RECONNAISSANCE

Mr. Karen J. Downey of MES inspected the Site on February 3,2007. The interior
and perimeter of the Site was inspected and the abutting properties were
inspected from the Site and accessible right-of-ways. Observations presented
below were indicative of the conditions of the Site at the time of the
inspection. Site Photographs are presented in Appendix B.

The Site consists of approximately 29.76 acres (12.044 hectares) of undeveloped,
vacant land located within Parque Industrial Fresnillo, Fresnillo, Zacatecas,
Mexico.

     6.1  HAZARDOUS SUBSTANCES IN CONNECTION WITH IDENTIFIED USES

     No hazardous substances were observed at the time of the inspection.

     6.2  HAZARDOUS SUBSTANCE CONTAINERS AND UNIDENTIFIED SUBSTANCE CONTAINERS

     No hazardous substance containers or unidentified substance containers were
     observed on the Site at the time of the inspection.

     6.3  ONSITE STORAGE TANKS

     No storage tanks were observed on the Site during the inspection.

     No underground storage tanks or evidence of underground storage tank
     systems were observed on the Site.

     6.4  INDICATIONS OFPCBS

     Polychlorinated Biphenyl (PCB) compounds are coolants or lubrication oils
     formerly used in some electrical transformers, light ballasts, electrical
     panels or other similar equipment. The PCB content in electrical
     transformers has been divided into three categories by the EPA. Those
     units, which contain less than 50 parts per million (ppm), are defined PCB
     free and those units which contain between 50 ppm and 500 ppm of PCBs and
     are defined as PCB-Contaminated. Units with a PCB content greater than 500
     ppm are classified as PCB-Containing.

     No electrical equipment was observed on the Site during the inspection.

     6.5  INDICATIONS OF SOLID WASTE DISPOSAL

     Piles of discarded construction materials were observed on the
     northwesternmost section of the Site during the inspection.

     6.6  PHYSICAL SETTING ANALYSIS - MIGRATING HAZARDOUS SUBSTANCES

     Hazardous materials released on the Site would likely be transported off
     site via rain runoff to the southeast of the Site.

29.76 ACRES OF VACANT LAND
PARQUE INDUSTRIAL FRESNILLO                        ENVIRONMENTAL SITE ASSESSMENT
FRESNILLO, ZACATECAS, MEXICO                                             PAGE 10

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     6.7  OTHER CONDITIONS OF CONCERN

               PITS, SUMPS, DRYWELLS AND CATCHBASINS

               No pits, drywells or catchbasins were noted.

               STORM WATER DRAINAGE

               Stormwater runoff will generally flow to the southeast of the
               Site. No standing water or apparent storm water problems were
               observed at the Site.

               SOIL STAINING OR DISCOLORATION

               No areas of soil staining or discoloration were noted on the
               Site.

               MEANS OF SITE ACCESS

               The Site is accessible from Circuito Fresnillo-Sur to the
               southeast of the Site and Circuito Fresnillo-Norte to the north
               of the Site.

               NATURAL FEATURES

               The Site contains no natural water bodies, streams/bayous, rare
               or unusual vegetation, erosion plains, springs, etc.

               LANDFILL, DUMPING OR DIRECT BURIAL ACTIVITY

               Numerous piles of discarded construction materials were observed
               on the northwesternmost section of the Site during the
               inspection.

               SURFACE IMPOUNDMENTS OR HOLDING PONDS

               No surface impoundments or holding ponds were observed on the
               Site.

               AIR EMISSIONS - WASTEWATER DISCHARGE

               No air emissions or wastewater discharges were observed on the
               Site during the inspection.

               INDUSTRIAL AND MANUFACTURING ACTIVITIES

               No industrial or manufacturing activities were observed on the
               Site during the inspection.

               MONITORING WELLS OR REMEDIAL ACTIVITIES

29.76 ACRES OF VACANT LAND
PARQUE INDUSTRIAL FRESNILLO                        ENVIRONMENTAL SITE ASSESSMENT
FRESNILLO, ZACATECAS, MEXICO                                             PAGE 11

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               No monitoring wells or remedial activities were observed on the
               Site during the inspection.

               LEACHATE OR SEEPS

               No leachate or seeps were observed on the Site during the
               inspection.

               DEAD, DISTRESSED, DISCOLORED OR STAINED VEGETATION

               No areas of dead or distressed vegetation were observed on the
               Site during the inspection.

               CHEMICALS SPILLS OR RELEASES

               No obvious signs of chemical spills or releases were observed on
               the She during the inspection.

               SURFACE WATER CONTAMINATION

               No evidence of surface water contamination was observed on the
               Site during the inspection.

               OIL OR GAS WELL EXPLORATION, ABSTRACTION, OR REFINERY ACTIVITIES

               No oil or gas related operations were observed on the Site.

               CHEMICAL GASES, PETROLEUM PRODUCTS OR FOUL ODORS

               No chemical gases, petroleum product odors, or other foul odors
               were observed on the Site during the inspection.

               FARM WASTE CONCERNS

               No indications of farm waste concerns were observed on the Site.

               BULK CHEMICAL STORAGE AREAS

               No bulk chemical storage areas were observed on the Site during
               the inspection.

               OBSERVED RAILROAD SPURS AND ELECTRICAL TOWER TRANSMISSION LINE

               No electrical tower transmission lines or railroad spurs were
               observed on the Site.

               WATERWELLS, CISTERNS AND SEPTIC SYSTEM

               No waterwells, cisterns, or septic systems were observed on the
               Site.

29.76 ACRES OF VACANT LAND
PARQUE INDUSTRIAL FRESNILLO                        ENVIRONMENTAL SITE ASSESSMENT
FRESNILLO, ZACATECAS, MEXICO                                             PAGE 12

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               HEAVY EQUIPMENT

               A forklift was observed in the vicinity of the building
               construction.

               DISCHARGES, LEACHATE, MIGRATION, OR RUN-OFF OF POTENTIAL
               CONTAMINANTS FROM AN OFF SITE SOURCE ONTO THE SITE

               No evidence of discharges, leachate, or migration of potential
               contaminants from off-site sources onto the Site was observed
               during the Site inspection.

               WETLANDS, ARCHAEOLOGICAL, OR ENVIRONMENTALLY SENSITIVE AREAS

               There are no known wetlands, archaeological sites, or other types
               of environmentally sensitive areas at the Site.

               ASBESTOS CONTAINING MATERIALS

               No potential asbestos containing materials were observed on the
               Site during the inspection.

               RADON

               There does not appear to have been a radon survey at the Site.

               LEAD BASED PAINT

               No evidence of lead based paint was observed on the Site.

               FORMALDEHYDE FOAM INSULATION

               No evidence of formaldehyde foam insulation was observed at the
               Site at the time of inspection.

               LEAD IN DRINKING WATER

               Tests were not performed for lead in the drinking water.

7.0  REGULATORY REVIEW

The Mexican environmental regulatory program is found in Articles 4, 25, 27,73
and 115 of Mexico's Constitution, which establishes federal, state, and
municipal jurisdictions in matters of environmental protection and empowers the
federal Congress to promulgate environmental legislation.

The Mexican environmental authorities are:

29.76 ACRES OF VACANT LAND
PARQUE INDUSTRIAL FRESNILLO                        ENVIRONMENTAL SITE ASSESSMENT
FRESNILLO, ZACATECAS, MEXICO                                             PAGE 13

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     -    Ministry of Environment, Natural Resources (SEMARNAP)

     -    National Institute of Ecology (INE)

     -    Attorney General for Environmental Protection (PROFEPA)

     -    National Water Commission (CNA)

     -    State and Municipal Environmental Authorities

SEMARNAP is the central organization that houses INE, PROFEPA and CNA. INE is
the regulatory arm of SEMARNAP that is responsible for maintaining and
publishing all environmental regulations. PROFEPA's purpose is to promote the
decentralization of regulatory activities and to coordinate the implementation
of federal environmental policies with state and municipal authorities. CNA has
jurisdiction over water usage and discharges.

     7.1  HIERARCHY OF REGULATIONS

     The general hierarchy of environmental regulations is as follows:

     -    Regulations; and,

     -    Law;

     -    Technical Standard or NORM.

          7.1.1 GENERAL ENVIRONMENTAL LAW

          Mexican environmental legislation is based upon the General Law of
          Ecological Equilibrium and Environmental Protection (General
          Environmental Law), Regulations of the General Environmental Law, its
          Regulation, and the Official Mexican Norms (NORMs) for environmental
          matters. The provisions of this legislation are applied in the
          performance of inspections, execution of safety measures,
          determination of violations and their sanctions, and administrative
          procedures for appeals under these regulations.

          7.1.2 REGULATIONS OF THE GENERAL ENVIRONMENTAL LAW

          The Regulations supplement and expand upon the General Environmental
          Law in the respective media. These regulations are intended to
          establish clear administrative mechanisms and procedures to fulfill
          the mandates of the General Environmental Law. The Regulations,
          consistent with the provisions of the General Environmental Law
          establish the jurisdiction of Mexico's environmental authorities,
          create specific legal

          requirements to be met, and detail sanctions and administrative
          recourse for noncompliance in each area. The Regulations also contain
          licensing, permitting, manifesting, and reporting requirements within
          their respective scope.

          7.1.3 NORMS

29.76 ACRES OF VACANT LAND
PARQUE INDUSTRIAL FRESNILLO                        ENVIRONMENTAL SITE ASSESSMENT
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          NORMs are the technical standards. The standards rely upon
          quantitative ecological technical standards and ecological criteria to
          determine compliance. To date, approximately 150 environmental NORMs
          have been issued under the General Environmental Law, its Regulations,
          and the Law of National Waters and its Regulation.

     7.2  GENERAL LAW OF ECOLOGICAL EQUILIBRIUM AND ENVIRONMENTAL PROTECTION

     The modern Mexican environmental legal regime is founded upon the General
     Environmental Law, which went into effect March 1, 1988 and superseded
     prior environmental laws. The General Environmental Law is a comprehensive
     environmental statute addressing the full spectrum of environmental issues
     including pollution in all media, natural resource conservation,
     environmental impact and risk assessment, ecological zoning, and sanctions.

     The General Environmental Law is federal in scope and, in the absence of
     state and municipal regulations, applies to all natural resource and
     environmental protection issues in Mexico. It establishes the respective
     jurisdictions, as discussed above, and the duties of federal, state, and
     municipal environmental authorities in environmental policy and
     enforcement.

     SEMARNAP, through INE and PROFEPA, and in conjunction with the state and
     municipal environmental authorities, is required to apply, implement, and
     enforce the provisions of the General Environmental Law, its regulations
     and NORMs and, where applicable, the local environmental laws and
     ordinances.

     7.3  NATIONAL WATER COMMISSION (CNA)

     Jurisdiction over water usage and discharges was delegated to CNA, formerly
     an agency of the ministry of Agriculture and Hydraulic Resources. The
     delegated powers include standard setting, use and discharge permitting,
     and enforcement of industrial water practices involving federal waterways,
     i.e., lakes, rivers, and federal canals. CNA administers the 1992 Law of
     National Waters, its 1994 Regulation, and the existing technical norms.
     Industrial discharges to municipal sewers and/or treatment systems are
     generally subject to the Federal NORMs and are regulated by the particular
     municipality.

29.76 ACRES OF VACANT LAND
PARQUE INDUSTRIAL FRESNILLO                        ENVIRONMENTAL SITE ASSESSMENT
FRESNILLO, ZACATECAS, MEXICO                                             PAGE 15

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8.0  FINDINGS, OPINIONS, CONCLUSIONS & RECOMMENDATIONS

     8.1  FINDINGS

     MES has performed a Phase I Environmental Site Assessment in conformance
     with the scope and limitations of ASTM Practice E 1527-00 of the
     approximately 29.76 acres of vacant land located in Parque Industrial
     Fresnillo, Fresnillo, Zacatecas, Mexico. Any exceptions to, or deletions
     from, this practice are described in Section 2.0. This assessment has
     revealed the following evidence of suspect recognized environmental
     conditions in connection with the Site:

     The Site is located within an industrial park.

     Numerous piles of discarded construction materials were observed on the
     northwesternmost section of the Site during the inspection.

     Suspect recognized environmental conditions are defined as information
     obtained during the preparation of this Phase I Environmental Site
     Assessment suggesting the presence of any hazardous substances or petroleum
     products at a property that, in the opinion of the environmental
     professional, may indicate an existing release, past release, or material
     threat of a release of any hazardous substances or petroleum products into
     structures on the Site or into the ground, groundwater, or surface water of
     the Site. Upon further evaluation by the Environmental Professional, the
     identified suspect environmental condition may or may not be determined to
     be a Recognized Environmental Condition.

     8.2  OPINIONS

     The following opinions on the suspect environmental conditions are offered
     by the environmental professional conducting this Phase IESA:

     According to Entrada Group representatives, the occupants of the industrial
     park will be light industrial, storage and distribution businesses. The
     risk of environmental concern from planned operations at the industrial
     park is considered de minimus.

     According to Entrada Group representatives, the construction materials will
     be utilized in leveling areas of the Site prior to building construction.
     The risk of environmental concern from this discarded construction debris
     is considered de minimus.

     The Site appears to have always been vacant land with no obvious, potential
     environmental concerns due to its past history.

     8.3  CONCLUSIONS

     This assessment has revealed no evidence of recognized environmental
     conditions in connection with the Site.

     8.4  RECOMMENDATIONS

29.76 ACRES OF VACANT LAND
PARQUE INDUSTRIAL FRESNILLO                        ENVIRONMENTAL SITE ASSESSMENT
FRESNILLO, ZACATECAS, MEXICO                                             PAGE 16

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     MES recommends no additional environmental studies at this time.

29.76 ACRES OF VACANT LAND
PARQUE INDUSTRIAL FRESNILLO                        ENVIRONMENTAL SITE ASSESSMENT
FRESNILLO, ZACATECAS, MEXICO                                             PAGE 17

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9.0  APPENDICES

          APPENDIX A   FIGURES

          APPENDIX B   SITE PHOTOGRAPHS

          APPENDIX C   QUALIFICATIONS

          APPENDIX D   LETTER OF ENGAGEMENT

          APPENDIX E   GLOSSARY OF TERMS

29.76 ACRES OF VACANT LAND
PARQUE INDUSTRIAL FRESNILLO                        ENVIRONMENTAL SITE ASSESSMENT
FRESNILLO, ZACATECAS, MEXICO                                             PAGE 18

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                                   APPENDIX A

                                     FIGURES

29.76 ACRES OF VACANT LAND
PARQUE INDUSTRIAL FRESNILLO                        ENVIRONMENTAL SITE ASSESSMENT
FRESNILLO, ZACATECAS, MEXICO

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                                  (SITE PLAN)

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FRESNILLO, ZACATECAS, MEXICO

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                                     (MAP)

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                                    (GRAPHIC)

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                                   APPENDIX B

                                Site Photographs

29.76 ACRES OF VACANT LAND
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FRESNILLO, ZACATECAS, MEXICO

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                                    (GRAPHIC)

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PARQUE INDUSTRIAL FRESNILLO                        ENVIRONMENTAL SITE ASSESSMENT
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                                   APPENDIX C

                                 QUALIFICATIONS

29.76 ACRES OF VACANT LAND
PARQUE INDUSTRIAL FRESNILLO                        ENVIRONMENTAL SITE ASSESSMENT
FRESNILLO, ZACATECAS, MEXICO

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KIM WILLIAM MCLEAN

TITLE Environmental Geologist/President

EDUCATION

BS, Geology, Louisiana State University -1979

PROFESSIONAL REGISTRATIONS/LICENSES

Licensed Geologist - License # 914 - Texas Board of Professional Geoscientists
Licensed Asbestos Inspector - License # 60-0259 - Texas Department of Health
Licensed Asbestos Management Planner - License # 20-5408 -Texas Department of
Health Certified 40-Hour OSHA Hazardous Waste Operations
Certified Moid Assessor - Environmental Assessment
Association Registered Petroleum Geologist #3881 - American Associate of
Petroleum Geologist
Registered Environmental Assessor - California Environmental Protection Agency
Registered Professional Geologist - State of Tennessee
Certified Environmental Inspector - Environmental Assessment Association

PROJECT EXPERIENCE

-    Managed the assessment division of SSCI which included all Phase I
     environmental site assessments nationwide. Wrote or managed over 2,500
     Phase I site assessments on commercial, residential, industrial and raw
     land in 44 states and Mexico. Clients included asset management firms, real
     estate agencies, developers, banks, law firms, the RTC, the FDIC, and other
     government agencies.

-    Managed Phase II and Phase III projects throughout the United States.
     Projects included lead- paint surveys; PCB surveys; hazardous and
     non-hazardous waste disposal; underground storage tank removal; wetlands
     research; monitor well placement; soil and groundwater sampling; subsurface
     mapping and interpretation of analytical results.

-    Managed the closure of hazardous sites in Texas, Louisiana, Florida and
     California.

-    Conducted Environmental, Safety, and Industrial Hygiene audits on drilling
     rigs (on and offshore) for Petroleos Mexicanos (PEMEX) Exploration and
     Production in southern and eastern Mexico.

-    Conducted or managed over 1,500 limited and comprehensive asbestos surveys.

-    Installed or managed the installation of over 300 soil borings, Geoprobes,
     and groundwater monitor wells.

-    Coordinated and negotiated site closures with clients, service companies,
     field personnel and regulatory agencies such as the Louisiana Department of
     Environmental Quality, Texas Natural Resources Conservation Commission,
     California Water Quality Control Board, and others.

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FRESNILLO, ZACATECAS, MEXICO

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-    Provided interoffice support to clients, including site assessment review,
     technical evaluation of conclusions and recommendations, and technical
     recommendations on contamination delineation and remediation.

PROFESSIONAL SOCIETIES AND AFFILIATIONS

Past President - Texas Association of Environmental Professionals
Member - National Association of Environmental Professionals
Member - Texas Association of Environmental Professionals
Member - American Indoor Air Quality Council
Member - Houston Geological Society
Professional Experience

MCLEAN ENVIRONMENTAL SERVICES
Houston, Texas
March, 1997 to Present

PRESIDENT

-    Manage all Phase I environmental site assessments in the United States and
     South America.

-    Manage all Phase II and Phase III projects.

-    Responsible for customer relations, marketing, and business development of
     national and international accounts.

-    Responsible for the preparation and submittal of technical proposals to
     government entities and private industry.

SEPARATION SYSTEMS CONSULTANTS, INC.
Houston, Texas
May 1991 to February, 1997

BUSINESS DEVELOPMENT/DIVISION MANAGER

-    Managed the assessment division which included all Phase I environmental
     site assessments nationwide.

-    Managed all Phase II and selected Phase III projects.

-    Responsible for customer relations, marketing, and business development of
     national and international accounts.

-    Responsible for the preparation and submittal of technical proposals to
     government entities and private industry.

-    Managed large environmental construction projects. Duties included contract
     negotiation and execution, project planning, budget monitoring, scheduling,
     staffing, regulatory compliance, change order negotiation and report
     preparation. Clients included the Army Corps of Engineers, various banks,
     asset management firms, and attorneys.

-    Managed the training division which provided hazardous material (HAZWOPER),
     RCRA, underground storage tank (initial and refresher), lead awareness, and
     health and safety training.

29.76 ACRES OF VACANT LAND
PARQUE INDUSTRIAL FRESNILLO                        ENVIRONMENTAL SITE ASSESSMENT
FRESNILLO, ZACATECAS, MEXICO

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-    Responsible for development of promotional materials for trade shows and
     corporate advertising.

-    Implemented and responsible for the maintenance of a company-wide Novell
     network.

-    Established and implemented a systematic process for customer follow up.
     Instrumental in obtaining customer feedback and coordinating the
     implementation of substantive changes as a result of feedback.

REGENT PETROLEUM, INC.
Lafayette, LA
April 1986-May 1991

VICE PRESIDENT

-    Marketed drilling prospects in the Gulf Coast region.

-    Raised venture capital for drilling prospects and royalty acquisition.

-    Reviewed division orders, working interest contracts, and mineral leases.

-    Managed disbursement of production proceeds for offshore investors.

-    Generated drilling prospects.

-    Evaluated working interest purchases.

-    Testified before the Louisiana Department of Natural Resources

-    Conducted research in the Louisiana Department of Conservation and various
     courthouses throughout Louisiana, Arizona, California, Mississippi and
     Alabama.

DYNAMIC EXPLORATION
Lafayette, LA
February 1981 -April 1986

EXPLORATION GEOLOGIST

-    Marketed drilling prospects in the Gulf Coast region.

-    Generated drilling prospects.

-    Evaluated working interest purchases.

29.76 ACRES OF VACANT LAND
PARQUE INDUSTRIAL FRESNILLO                        ENVIRONMENTAL SITE ASSESSMENT
FRESNILLO, ZACATECAS, MEXICO

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KAREN J. DOWNEY

TITLE Environmental Consultant

EDUCATION

M.S., Environmental Science University of Houston-Clear Lake - 2001
B.S., Environmental Science University of Houston-Clear Lake -1997
A.A.S., Court Reporting
Alvin Community College -1981

PROFESSIONAL REGISTRATIONS/LICENSES

Army Corps of Engineers Wetland Delineator Certification training (38 hours)
Texas Engineering Extension Service, Texas A&M: Fundamentals of Environmental
Sampling and Analysis

PROFESSIONAL SOCIETIES AND AFFILIATIONS

Society of Wetland Scientists
Texas Association of Environmental Professionals
National Court Reporters Association

PROFESSIONAL EXPERIENCE

MCLEAN ENVIRONMENTAL SERVICES
Houston, Texas
February, 1998 to Present

-    Contract work, performing Phase I Environmental Site Assessments, U.S. and
     Mexico. Responsibilities include environmental background research;
     interpretation of topographical maps, soil surveys, and aerial photographs;
     interviewing property owners; and preparing complete report.

-    Soil sampling at industrial properties in Mexico.

-    Performing wetlands determinations and delineations, development of
     wetlands mitigation plans for clients, and preparation of Section 404
     permit.

ECLIPSE ENVIRONMENTAL

Houston, Texas
August, 1998 - Present

-    Sole proprietor, performing wetlands determinations and delineations,
     preparing complete report, client contact, contract bidding, billing.

ALVIN COMMUNITY COLLEGE

29.76 ACRES OF VACANT LAND
PARQUE INDUSTRIAL FRESNILLO                        ENVIRONMENTAL SITE ASSESSMENT
FRESNILLO, ZACATECAS, MEXICO

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Alvin, Texas
August, 1984 - Present

-    Instructor of English grammar, punctuation, and transcript preparation and
     court reporting skills building.

29.76 ACRES OF VACANT LAND
PARQUE INDUSTRIAL FRESNILLO                        ENVIRONMENTAL SITE ASSESSMENT
FRESNILLO, ZACATECAS, MEXICO

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                                   APPENDIX D

                              Letter of Engagement

29.76 ACRES OF VACANT LAND
PARQUE INDUSTRIAL FRESNILLO                        ENVIRONMENTAL SITE ASSESSMENT
FRESNILLO, ZACATECAS, MEXICO

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January 29, 2007

Entrada Partners
c/o Mr. Paul Karon
236 W. Castano Ave.
San Antonio, Texas 78209

RE:  Phase I Environmental Site Assessment Proposal Three-20 acre Tracts of
     Vacant Land Industrial Park Fresnillo, Zacatecas, Mexico

Dear Mr. Karon:

In accordance with your request, McLean Environmental Services (MES) is pleased
to submit this proposal to Entrada Partners for a Phase I Environmental Site
Assessment (ESA) on the above referenced property.

INTRODUCTION

The purpose of this proposal is to define the scope of work, cost, limitations,
and terms and conditions associated with completing a Phase I ESA on the above
referenced site. To the extent commercially practicable the Phase I ESA will be
prepared in accordance with the standards and procedures of the American Society
for Testing and Materials (ASTM) Standard Practice for Environmental Site
Assessments, Designation E 1527-00.

The objective of the Phase I ESA is to evaluate historical and present uses of
the site for evidence of impacts by hazardous substances. This Phase I ESA will
be conducted by an environmental professional under standards of good commercial
and customary practices that constitute "all appropriate inquiry into the
previous ownership and uses of the property" as defined in 42 USC Section 9601
(35) (B).

BACKGROUND

MES understands there are multiple tracts of vacant land to be investigated
which total approximately 60 acres and is located in an industrial park in
Fresnillo, Zacatecas, Mexico.

SCOPE OF WORK

The scope of work for this Phase I ESA includes the following components:

-    Review of Existing Data and Records

-    Site Reconnaissance

-    Interviews

-    Findings Evaluation and Report Preparation

-    Project Management

2002 SPRING FIELD ROAD
HOUSTON, TX 77062
PHONE: (281) 286-0925                               E-MAIL: MCLEAN@MCLEANENV.COM
TAX: (281) 280-0429                                  WEB PAGE: WWW.MCLEANENV.COM

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Phase I Environmental Site Assessment Proposal
Three-20 acre Tracts of Vacant Land
Industrial Park
FresnMo, Zacatecas, Mexico
Page 2

LIMITATIONS

The Phase IESA is a limited inquiry into the environmental characteristics of
the property. It includes an opinion on the existence of regulated environmental
contamination (e.g., hazardous substances) by an environmental professional
based upon an examination of readily available public and facility records,
interviews with people knowledgeable about the site, and a site visit.

This ESA does not include any sampling or analyses unless authorized as
Additional Services. Furthermore, the location of or identification of
undocumented buried tanks or concealed wastes, hidden conditions, and subsurface
conditions are not included.

COST AND DELIVERY

The cost to complete the outlined scope of work on the referenced property is
$[**] (USD). This is a lump sum fee, due upon receipt of and will include three
copies of the report. In the event of the cancellation of this project, Entrada
Partners agrees to reimburse MES for all expenses incurred.

MES agrees to complete and deliver the reports within 3 weeks from receipt of
authorization to proceed. If the terms and conditions meet with your approval,
please sign below and return as soon as possible. I appreciate the opportunity
to be of service to you.

Submitted by,                        Accepted by,

MCLEAN ENVIRONMENTAL SERVICES        ENTRADA PARTNERS

By: /s/ Kim McLean                   BY /S/ ILLEGIBLE            FEB. 1, 2007
    -------------------                 ----------------             DATE
    Kim McLean

2002 SPRING FIELD ROAD
HOUSTON, TX 77062
PHONE: (281) 286-0925                               E-MAIL: MCLEAN@MCLEANENV.COM
TAX: (281) 280-0429                                  WEB PAGE: WWW.MCLEANENV.COM

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                                   APPENDIX E

                                Glossary of Terms

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                                GLOSSARY OF TERMS

PROFEPA

PROFEPA is the Mexican environmental inspection and enforcement authority.
PROFEPA reports to the Secretary of Environmental Media, Natural Resources and
Fisheries (SEMARNAP).

HAZARDOUS WASTE

Congress defined the term "hazardous waste" in Section 1004(5) of RCRA as a
"solid waste, or combination of solid wastes, which because of its quantity,
concentration, or physical, chemical, or infectious characteristics may: (1)
Cause, or significantly contribute to an increase in mortality or an increase in
serious irreversible, or incapacitating reversible, illness or; (2) Pose a
substantial present or potential hazard to human health or the environment when
improperly treated, stored, transported, or disposed of, or otherwise managed."

MAQUILADORA

Maquiladoras are Mexican manufacturing and assembly plants that are owned by
foreign parent companies. Under Mexico's maquiladora program, foreign parent
companies, of which most are in the U.S., export raw materials and partially
assembled components "in-bond" (tariff free) to their maquiladora plants for
final assembly. Under the current system, the finished goods produced at the
Mexican facility can then be exported with tariffs imposed only on the value
added to the material during the processing steps that occurred in Mexico.
Mexican law requires that hazardous wastes generated from "in-bond" raw
materials in the maquiladora plants either (1) be exported to the country of
origin for management, or (2) be nationalized. Nationalization, whereby the
waste could remain in Mexico, has been used rarely. Therefore, most hazardous
wastes from "in-bond" raw materials produced by maquiladora plants are sent back
to the U.S. Such wastes include acids, bases, liquids containing heavy metals,
metal-plating wastes, organic solvents, and cyanide wastes.

NATIONAL ECOLOGICAL INSTITUTE (INE)

INE is the Mexican environmental authority responsible for issuing hazardous
waste export permits. The Mexican export permit is known as a Guia Ecologica
(Ecological Guide). INE reports to the Secretary of Environmental Media, Natural
Resources and Fisheries (SEMARNAP).

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                                  END OF REPORT

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EXHIBIT C - LIST OF PREVIOUS LESSEES AND THEIR ACTIVITIES IN THE PROPERTY

No prior lessees known.

<PAGE>

                                   EXHIBIT "B"

                                     ENTRADA
                            SHELTER PROGRAM SERVICES

Entrada and Entrada Mexico will provide to CLIENT the following services, as
well as other related incidental services, pursuant to the Shelter Services
Agreement of which this Exhibit is a part for which no consideration other than
the Shelter Program Service Fee will be paid (except for the reimbursement of
certain out-of-pocket expenses and costs as contemplated in this Agreement).

Accounting

     -    Responsible for all Mexico accounting requirements (CLIENT is
          responsible for any internal cost accounting for its operation)

     -    Transact and administer currency exchange

     -    Responsible for all banking matters in Mexico

     -    Responsible for tax reporting, declarations and remittances with
          appropriate Mexican governmental agencies including company income tax
          declarations, value added tax, and employer related taxes, within the
          periods required by applicable law

     -    Recover Mexican value added tax and credit to CLIENT an amount equal
          to the funds that CLIENT provided in advance for Entrada Mexico's
          timely payment of value added tax

     -    [**]

Administration Services in Mexico

     -    Responsible for acquisitions of all Mexico permits

     -    Consult with CLIENT to assure facility compliance with all local laws
          and regulations

     -    Manage all inspections with Mexican governmental agencies.

     -    [**]

Environmental, Health and Safety

     -    Coordination of environmental impact studies, if required.

     -    Securing of hazardous waste permits or material permits, the Licencia
          de Funcionamiento, the Informe Preventivo and the Cedula de Operacion.
          or any other permit required for CLIENT's operations. [**]

     -    Advice on, and assistance in complying with, Mexican environmental
          laws and regulations

     -    Coordination of the removal / disposal of hazardous wastes and scrap
          materials as well as the preparation of the documents required to
          affect the removal/disposal of such items. [**]

                                   Page 1 of 4

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     -    Coordination of translation of environmental related documents, such
          as MSDS sheets, if such translation is required by CLIENT or Mexican
          laws. [**]

     -    Provide Industrial Safety Training

     -    Advice on, and assistance in complying with, Mexican occupational
          health and safety laws and regulations

Facility Management

     -    Oversee facility improvements of CLIENT 's production area

     -    Responsible for maintenance and repair of manufacturing space
          (building)

     -    Liaison with local utility companies(systems design is Client's
          responsibility)

     -    Provide cleaning services for facility offices, cafeteria and
          bathrooms

     -    Provide exterior landscaping and grounds keeping services

     -    [**]

     -    Provide around the clock, external security for the facility

     -    Fumigation and pest control for facility

     -    Trash Collection coordination and disposal, on the understanding that
          the collection of production floor waste will be collected from the
          dumpsters designated by Entrada to that effect.

Government and Community Relations

     -    Responsible for all interface with local, state and government
          authorities [**]

Human Resource Management

     -    Staffing: Recruitment, screening and contracting of Mexican personnel
          (training of the workforce is CLIENT 's responsibility)

     -    Compensation & Benefits: consulting and administration

     -    Personnel administration & Workplace policies

     -    Labor Relations: Union and Employee

     -    Coordination of government programs, available for workers including
          housing, day care and adult education

     -    [**]

     -    [**]

     -    [**]

     -    [**]

                                   Page 2 of 4

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Import/Export Management

     Cross Border Logistics:

     -    Coordination of consolidation and staging of shipments from Laredo,
          Texas to Mexican facility and from Mexican facility to Laredo, Texas

     -    Contracting and coordination of carriers providing ground, full
          trailer and LTL, air and rail transportation between Laredo, Texas and
          Mexican facility (Note: A CLIENT representative shall be present to
          instruct Entrada Mexico regarding how to load and unload the and
          equipment at the Facility in Fresnillo. [**]

     -    Assisting US and Mexican customs brokers to clear shipments through
          Mexican and U.S. Customs

     -    [**]

     -    [**]

     U.S. Customs

     -    Recommendation to CLIENT of U.S. Customs Broker. CLIENT is the U.S.
          Importer of Record.

     -    Collaborate with CLIENT's U.S. Customs Broker and U.S. Customs
          Specialist to secure appropriate tariff classifications for CLIENT 's
          products

     -    Provide CLIENT overview of product qualification process

     -    Coordinate special importations, bonded shipments, etc.

     -    Assist CLIENT and U.S. Customs broker obtain rulings from U.S. Customs
          for marking of products and packaging and obtain marking waivers from
          U.S. Customs

     Mexican Customs and In-Bond Administration

     -    Responsible for contracting and managing relationship with Mexican
          customs broker. Entrada Mexico is the Mexico importer of record.

     -    Responsible for administration of the maquila or in-bond program and
          all related government permits

     -    Responsible for compliance with Mexican Customs provisions, including
          Anexo 24

MRO Purchases & Accounts Payable Management

     Responsible for all Accounts Payable in Mexico to Mexican vendors other
     than those purchases related to CLIENT's Bill of Materials (raw materials).
     [**]

                                   Page 3 of 4

<PAGE>

On-Site Medical and Urgent Care

     [**]

Payroll Management

          Responsible for Time & Attendance activities

     -    Process and payment of weekly payroll

     -    Process and payment of all employee benefits including vacations and
          bonuses

     -    Prepare, submit and all required employer payments to federal and
          state agencies e.g. Seguro Social, Infonavit etc.

ENTRADA GROUP, a Texas Limited            CLIENT
Partnership

By: /s/ Paul Karon                        By: /s/ Jeffrey H. Burbank
    -----------------------------------       ----------------------------------
Its: Global Factory, Managing Partner     Its: President & CEO

Entrada Group de Mexico

By: /s/ Paul Karon
   ------------------------------------
Its: Legal Representative

                                   Page 4 of 4

<PAGE>

                                    EXHIBIT C

                     SHELTER PROGRAM SERVICE FEES AND COSTS

          The Fees and Costs called for in the Shelter Services Agreement of
which this Exhibit is a part (the "Agreement"), will be the sum of: (a) the
Shelter Program Service Fees, as calculated below with respect to the number of
Workers in the Workforce, (b) the Facility Fee and (c) the Reimbursable Costs,
as hereinafter defined and as called for in the Agreement.

2)   Shelter Program Service Fee Calculation. The Shelter Program Service Fee
     will be calculated by multiplying (i) the Shelter Program Service Fee rate
     ("Service Fee Rate") set forth in the following chart for the highest
     number of Workers (the "Headcount") in the Workforce during any single day
     of a week for which the Shelter Program Service Fee is payable, by (ii) the
     total number of hours for which Workers are paid during the week to which
     the invoice is applicable. The shelter fee, while the operation is housed
     in the Tricon facility shall be $[**] per week regardless of headcount.
     Once the new facility is ready for occupancy, the fee schedule shown below
     will take effect. The shelter fees shall be tiered such that Fee Schedule 1
     applies while NxStage occupies 35,000 square feet; Fee Schedule 2 applies
     if NxStage is occupying a minimum of 70,000 square feet.

                         Shelter Plan Service Fee Chart

<TABLE>
<CAPTION>
                      Shelter Program   Shelter Program
                       Service Fee        Service Fee
                       U.S.$ / Hour      U.S.$ / Hour
     Headcount        At 35,000 Sq Ft   At 70,000 Sq Ft
-------------------   ---------------   ---------------
<S>                   <C>               <C>
      1-[**]               [**]              [**]
     [**]-[**]
     [**]-[**]             [**]              [**]
     [**]-[**]             [**]              [**]
     [**]-[**]             [**]              [**]
For every employee         [**]              [**]
    > [**] and
    up to [**]
</TABLE>

Economic Related Adjustments. Subject to the terms hereof, the Service Fee Rate
will be adjusted annually at the end of each calendar year beginning on December
31, 2007 by the amount of the percentage increase (or decrease), if any, in the
cost of living from the commencement of the applicable calendar year based upon
the U.S. Consumer Price Index - All Items - U.S. Cities Average, All Urban
Consumers (1967 = 100) published by the Bureau of Labor Statistics of the U.S.
Department of Labor (the "CPI"). In the event the Index ceases to be published,
the most comparable substitute (the "Substitute Index") will be used thereafter
as selected by the mutual agreement of the parties.

Reimbursable Costs. All reasonable costs and expenses incurred by Entrada in the
performance of its duties under this Agreement, such as those identified in
Exhibits "D" and "E" attached hereto and incorporated herein and in this Section
2, shall be reimbursed by Client in accordance with this Section 2, except for
those costs and expenses that will be borne by Entrada pursuant to the

<PAGE>

terms of this Agreement, including but not limited to, those costs and expenses
identified in the Agreement and Exhibit A. Before incurring any costs and
charges that shall be reimbursed by Client, Entrada must obtain the written
consent of Client. Client's On-Site Representative may approve any costs and
expenses up to a threshold amount that is notified to Entrada in writing from
time to time, except for those routine and recurring expenses, such as freight,
for which no prior authorization from Client shall be required. Initially, such
threshold amount for each requisition or authorization shall be $[**] USD. All
other costs and expenses above this threshold must be previously authorized in
writing by Client except for labor costs, which will be authorized by the
On-Site Representative regardless of their amount. Client agrees to reimburse
Entrada for the following costs and charges incurred by Entrada in connection
with this Agreement in accordance with the procedures described in this Section
2.

     Costs Certain Work force Compensation Related. All payments made to or on
     behalf of workers by Entrada in the performance of this Agreement. CLIENT
     understands and agrees that the payments made to, or for the benefit of,
     the workers may consist of wages, employer taxes, fringe benefits,
     attendance and punctuality bonuses, year end bonuses and other personnel
     costs including worker transportation and food service, if required, and
     that the amount of such payments depends on a variety of factors, such as
     applicable statutes and regulations, as well as the Collective Bargaining
     Agreement. An example of the composition of these payments is set forth on
     Exhibit "F" attached hereto. The actual amount of the payments (the "Weekly
     Compensation Amount") will be computed weekly, and the corresponding amount
     to be reimbursed to Entrada will be based on the U.S. Dollar-Mexican Peso
     exchange rate at which Entrada purchased Pesos from a major Mexican and/or
     U.S. financial institution for the applicable week. The labor rates paid by
     Entrada to the Mexican workers are based on Mexican Labor laws and include
     Social Security, taxes, and all other benefits prescribed by Mexican law.
     It is agreed that any compulsory increase in such wage caused by (1) an act
     of the Government of Mexico, or (2) resulting from the current provisions
     of that certain Collective Bargaining Agreement between Entrada and the
     Union dated August 22, 2003, a copy of which is attached to this Agreement
     as Exhibit "G" (the "Collective Bargaining Agreement") or as amended from
     time to time will be paid by CLIENT to Entrada in accordance with the terms
     of this Agreement. The labor compensation to be reimbursed by CLIENT will
     include its proportionate share of any increase in premiums for workers'
     compensation insurance or similar benefits that may be assessed or imposed,
     from time to time and for any reason, by the Mexican Social Security
     Administration or any other governmental authority.

     Worker Overtime Costs. CLIENT agrees to reimburse Entrada for any overtime
     paid to Workers as required by Mexican law that CLIENT requests or confirms
     in writing.

     Logistics and Customs Expenses. All logistics and freight charges, customs
     brokerage fees, and all payments required by the government of Mexico
     including tariffs, duties, and fines attributable to CLIENT's personal
     property.

     Other Costs and Payments. All other costs or payments made by Entrada in
     the performance of this Agreement that are contemplated by this Agreement
     or approved in writing by CLIENT.

<PAGE>

     Unit of Currency. Unless otherwise specifically stated herein, all monetary
     units referred to herein and elsewhere in this Agreement are U.S. Dollars.
     All amounts payable to Entrada hereunder are to be paid in U.S. Dollars.

2)   Certain Inspection Rights. CLIENT will have the right with reasonable
     notice to have its personnel examine and/or audit the records of Entrada
     relating to the calculation of any amounts due by CLIENT to Entrada
     pursuant to the Agreement including any and all pass-through costs or
     charges VAT (and VAT recovery and credit), the Facility Fee and any and all
     matters related to the Shelter Plan Service Fee, as well as the records of
     Entrada and Entrada Mexico relating to any costs that Entrada or Entrada
     Mexico incur in connection with the Agreement, to the extent such review
     does not violate the confidentially obligations of Entrada and Entrada
     Mexico as to their other shelter customers.

3)   Indemnification: Entrada and Entrada Mexico agree to hold CLIENT harmless
     in actions regarding workers paid through Entrada Mexico or any Mexican
     supplier paid through Entrada Mexico for disputes regarding non-payment
     provided CLIENT has reimbursed or paid Entrada the correct monies due.

ENTRADA GROUP, a Texas Limited            CLIENT - NxStage Medical
Partnership

By: /s/ Paul Karon                        By: /s/ Jeffrey H. Burbank
    -----------------------------------       ----------------------------------
Its: Global Factory, Managing Partner     Its: President & CEO

Entrada Group de Mexico

By: /s/ Paul Karon
    -----------------------------------
Its: Legal Representative

<PAGE>

                                    EXHIBIT D

                     CLIENT REIMBURSABLE COSTS AND POLICIES

Below are examples of incidental expenditures by Service that are included as
reimbursable or pass through costs and are billed to CLIENT in the weekly
invoice. Except for payroll, and ordinary course of business customs and
trucking expenses, any expenses in excess of US$[**] in annual aggregate by
individual category or for any single item must be pre-approved by CLIENT's
onsite manager. These expenditures are only examples of the types of
expenditures subject to reimbursement and are in addition to any cost or
expenditure enumerated in the body of the Shelter Services Agreement.

HUMAN RESOURCE MANAGEMENT

     Recruitment

          1.   Recruitment advertising (print or radio) placed solely in the
               name of the client company. This applies to advertising both
               inside and outside of the Zacatecas labor market area.

          2.   Non-customary expenses related to the filling of urgent labor
               requisitions must be approved in advance by authorized client
               firm personnel. In the case of the cancellation of such urgent
               requests, costs incurred prior to the cessation of recruitment
               effort will be billed to the account of the client. As soon as it
               is evident that cancellation of an urgent labor request will
               occur, please advise the Entrada HR staff as promptly as possible
               in order to limit unnecessary expenditures.

          3.   Expenses incurred by candidates from outside of the
               Fresnillo/Zacatecas area who have been invited to interview for a
               salaried position.

          4.   Laboratory tests or special examinations requested by CLIENT as
               part of the screening process.

     Personnel Management

          1.   Fees for visas and passports that are required for employees
               traveling outside of Mexico for training, or for company
               business.

          2.   The cost for the issuance of FM-3 business visas required for
               U.S. personnel assigned to client's Mexican facilities. This may
               include translation and/or certification of documents needed for
               the application.

          3.   Fees related to training provided by third parties to the CLIENT.

          4.   Charges for worker badges for which the CLIENT requires special
               graphics, such as the client firm's logo.

                                     Page 1

<PAGE>

          5.   Costs related to insurance or benefits requested by the CLIENT
               for its managers over and above that which is required by the
               Mexican Social Security rules.

          6.   The cost of in-plant uniforms and CLIENT sponsored athletic team
               uniforms.

     Labor Relations Management

          1.   Payment of life insurance premium for all workers assigned to the
               CLIENT manufacturing process by Entrada.(premium is approximately
               $[**]US per year per worker).

     On Site Medical and Urgent Care Services

          The cost of prescription medicines that are not commonly stocked for
the client's workforce and agreed to by CLIENT

Facilities Management

          1.   Expenses incurred in the painting and sealing of production floor
               areas subsequent to the initial occupation of the manufacturing
               facility.

          2.   Changes resulting from damage done to the building by CLIENT
               supervised personnel. This may include damage done to overhead
               doors or to interior walls by employee-operated forklifts.

          3.   Expenses that result from the removal of graffiti from the
               interior of the CLIENT's facility.

          4.   Waste disposal fees.

          5.   The cost of maintenance and spare parts for mechanical units,
               including air conditioners, installed by or for the CLIENT.

          6.   Charges related to the purchase of spare parts and service of
               additional transformers required by CLIENT.

          7.   Charges related to the purchase of spare parts and service of
               CLIENT's air compressors equipment.

          8.   Expenses related to the provision of dedicated, in-plant security

          9.   Sanitary supplies used in the bathrooms and kitchen.

                                     Page 2

<PAGE>

ENVIRONMENTAL SERVICES

          1.   The cost of any environmental impact study required by CLIENT.
               Entrada will arrange for and closely coordinate third party
               provision of this service.

          2.   The expense incurred in obtaining a Mexican Government issued
               hazardous waste or material permit. For example, spent
               lubricating oil is considered a hazardous waste in Mexico, as are
               the empty containers in which the oil was stored.

          3.   Travel Expenses incurred by Entrada for travel outside of the
               states of Zacatecas for the purpose of obtaining special permits
               that may be required for CLIENT's operations. For example, the
               legal manufacture of firearms, ammunition or personal defense
               products require special permits that are typically issued only
               in Mexico City.

          4.   Entrada Mexico is responsible for complying with Mexican
               environmental laws and regulations. CLIENT shall work with
               Entrada Mexico to set up and operate the manufacturing processes
               so that it meets said laws and regulations. Should inspection
               authorities discover any irregularities attributable to CLIENT
               that result in fines, then CLIENT shall reimburse Entrada Mexico
               for said payment, if, and only if, such irregularities are due to
               CLIENT's failure to follow the instructions from Entrada Mexico
               or willful misconduct or gross negligence that constitute
               criminal conduct by CLIENT's employees or other employees that
               are supervised by CLIENT.

          5.   Fees incurred in the removal/disposal of hazardous wastes
               generated in the provision of the Shelter Program Services to
               CLIENT, by third party providers such as Residuos Industriales
               Multiquim (RIMSA) and others as well as in the preparation of the
               documents required to affect the removal / disposal of such
               items.

          6.   Charges related to any tests performed at CLIENT's request of the
               quality of water supplied to the facility by the municipal water
               authority.

          7.   Costs associated with the removal/disposal of scrap materials.

          8.   Costs related to a site inspection performed by a qualified third
               party at the time CLIENT leaves the facility and all costs
               associated with the clean up of the facility.

          9.   Costs related to the translation of environmental related
               documents such as MSDS sheets.

          10.  Costs to obtain the Licencia de Funcionamento, the Informe
               Preventivo and the Cedula de Operacion.

MISCELLANEOUS

          1.   Charges made in connection with the installation and maintenance
               of any special communications equipment that is required by
               CLIENT These may include costs related to the installations of T1
               lines or fiber optic telecommunications equipment.

                                     Page 3

<PAGE>

          2.   Registration, licensing and insurance fees that are applicable to
               vehicles utilized in Mexico by CLIENT's operations for
               transporting workers.

          3.   The cost of a water treatment system for drinking water or
               bottled water supplied to the facility where CLIENT'
               manufacturing is taking place;.

          4.   Cost increases associated with the death or injury of a workforce
               member assigned to CLIENT's manufacturing operation that are
               levied by the Mexican Social Security Administration or any
               governmental authority, except where caused by the negligence or
               willful misconduct of the employees of Entrada, Entrada Mexico or
               the relevant Affiliate that are not assigned full-time to
               CLIENT's operations, or the breach of their obligations under
               this Exhibit or the Agreement of which it forms integral part.

ENTRADA PARTNERS, a Texas Limited         NxStage Medical, Inc.
Partnership

By: /s/ Paul Karon                        By: /s/ Jeffrey H. Burbank
    -----------------------------------       ----------------------------------
Its: Global Factory, Managing Partner         President & CEO

ENTRADA Group de Mexico, S. de R.L.
de C.V.

Its: /s/ Paul Karon
     ----------------------------------

                                     Page 4
<PAGE>

                                   EXHIBIT "E"

                              PROCUREMENT IN MEXICO

Procurement is an activity that is comprised of various functions: 1) Sourcing;
2) Purchasing; 3) Payment; 4) Pick-Up and Delivery; 5) Receiving. This document
outlines the respective responsibilities and policies of Entrada (E) and
MANUFACTURER (M) regarding the procurement of local supplies and services in
Mexico.

For purposes of this document, the word local refers to the cities of Fresnillo
and Zacatecas. The phrase, "supplies and services", refers to MRO (Maintenance,
Repair and Operating) supplies and services, those everyday supplies and
services used by (M) to keep production lines moving. It does not include (M's)
raw materials which are those items typically found on (M's) Bill of Materials.
(E) and (M) may make separate arrangements for the procurement of (E's) raw
materials in Mexico.

     1. Sourcing

          a.   Definition: sourcing is the activity of locating supplies and
               services that meet manufacturer's requirements and requesting a
               sales quotation from the appropriate vendor(s) who provide these
               supplies and services;

          b.   Entrada's Responsibilities:

               1.   (E) will provide (M) with a List of Preferred, Local MRO
                    Vendors by product group.

               2.   (E) will consult with (M) on an as-needed basis regarding
                    sourcing issues.

          c.   MANUFACTURER's Responsibilities:

               (M)  will be responsible for the sourcing activity

     2. Purchasing

          a.   Definition: the purchasing activity consists of placing an order
               with a vendor. Although it technically is separate from the
               payment activity, the person placing the order must understand
               the ramifications that the purchase terms negotiated have on the
               payment process. In addition, (M) will be responsible for
               specifying all conditions of the purchase such as quality and
               timeliness.

<PAGE>

          b.   (M's) Responsibilities:

               1.   (M) will place the order (Purchase Order) with the vendor.
                    The purchase order format and a unique numbering sequence
                    will be provided to (M) by (E). Legally, the purchase order
                    will be in (E)'s name;

               2.   (M) will negotiate the terms and conditions of the purchase
                    order with the vendor including payment terms, shipping
                    methods and delivery dates. The terms of the purchase order
                    will be subject to the agreed upon payment terms and
                    policies enumerated in number 3 below.

     3. Payment Policies according to Type of Purchase

          A. "$[**]US or Greater" Purchase: Vendor invoices greater than
          $[**]US. These invoices shall be paid by (E) once (M) has advanced the
          monies to (E). At the time of placing the purchase order, (M) must
          notify and coordinate with (E) the special invoicing of (M) to cover
          the payment. Once in receipt of the monies, (E) will follow the
          payment practices outlined herein.

          B. "Advance Payment" Purchase: Those purchases where the vendor
          requires that the monies accompany the purchase order. Unless this
          purchase qualifies as a "petty cash" purchase (see below), typically
          the vendor will require that the monies be sent via bank wire transfer
          to the vendor's bank. (E) will process bank related purchases daily
          and will require that (M) provide it with all information related to
          the purchase at least 24 hours prior to said banking day.

          C. "Credit" Purchase: A purchase in which the vendor extends credit
          for the purchase. Typically, credit, if extended, is for a period of
          10 days. If (E) does not have credit with a local vendor with whom (M)
          would like to purchase from, (E) will submit a credit application upon
          (M's) request. To secure vendor's approval can take up to 30 days. On
          occasion, (M) may have a relationship with a vendor in the US who has
          a Mexico affiliate that is willing to extend longer credit terms to
          (M). In this event, once (M) has arranged with the US vendor payment
          by (E), then (E) will pay pursuant to the agreed upon terms.

          (E) will pay all "credit" purchases with an (E) company check on
          Fridays from 1:00p.m to 5:00p.m. In order for a "credit" purchase to
          be paid on any given Friday, (E) must receive by the preceding
          Thursday all appropriate documentation signed by (M).

          D. "COD" Purchase: A purchase in which the Mexico vendor requires
          payment or the order upon delivery to the facility. In the event (M)
          seeks payment from (E) for a "COD" purchase, (M) must submit to (E)
          the appropriate documentation (24) hours prior to its delivery.

<PAGE>

          E. "US. Credit Card" Purchase: Certain Mexico vendors do not accept
          checks nor do they extend credit. If (E) chooses to purchase from
          these vendors, (M) must pay with a U.S. credit card or petty cash (see
          below).

          F. "Petty Cash" Purchase: (M) will pay in cash the following purchases
          or expenditures: 1) the vendor will not or can not invoice E; 2) the
          invoice is less than [**] pesos; 3) an advance or reimbursement
          requested by one of (M's) workers from (M) for company purposes.

          (M) will advance to Entrada US initially $[**]US and then on an
          as-needed basis an amount of money proportional to the size of cash
          expenditures projected monthly for the Mexican operation. Entrada US
          will transfer the monies to Entrada Mexico.

          (E) will provide (M's) authorized representative with the funds in
          pesos and the representative will be responsible for all issues
          related to the disbursement of the funds. In order to replenish the
          fund, the representative will submit to (E) Mexico a reconciliation
          form that is consistent with (E's) bookkeeping and Mexican income tax
          rules for deductibility.

     4. Pick Up and Delivery of Purchases

          a.   Deliveries :

          b.   "COD" Deliveries: COD deliveries to the plant site by 3rd party
               carriers shall be made between 9:00am and 3:00pm, Monday thru
               Friday;

          c.   Entrada Pick up and Delivery Service: At the end of each week day
               (M) will deliver to (E) a copy of the Purchase Order log. The log
               will identify those orders that the vendor will not provide
               delivery to the facility and that require pick up. Once the order
               appears on the daily log, (E) will pick up and transport to the
               Facility those orders that are from Fresnillo within 48 hours and
               those orders that are from Zacatecas within the week ordered.
               Special arrangements may be made with (E) for pick up and
               delivery service from Zacatecas.

               * Assumes purchases that can be carried by Entrada's vehicle. If
               item is too large or of a nature not appropriate for the vehicle,
               then (E) will contract an appropriate carrier, the cost of which
               shall be born by (M).

     5. Receiving:

          a.   All deliveries shall be received by (E) at (E's) designated
               receiving area in the Facility. If deliveries arrive outside
               (E's) hours of operation, (E) shall/not accept the delivery and
               instruct the carrier or vendor to return during (E's) hours of
               operation. With (E)'s assistance, (M) shall be responsible to
               verify all delivered

<PAGE>

               purchases against purchase order and vendor invoice and to note
               any discrepancies;

ENTRADA PARTNERS, a Texas Limited           CLIENT
Partnership

By: /s/ Paul Karon                          By: /s/ Jeffrey H. Burbank
    -------------------------------------       --------------------------------
Its: Global Factory Managing Partner        Its: President & CEO

ENTRADA GROUP DE MEXICO

By: /s/ Paul Karon
    -------------------------------------
Its Legal Representative

<PAGE>

EXHIBIT F

ANNUAL COMPENSATION CALCULATION(EMPLOYER COST)

Position: _______________

Prepared by: Gerardo Macias, Entrada Group de Mexico SRL de CV

<TABLE>
<S>                                  <C>                   <C>
For:                                 Salario Diario [**]   Salario inicial del nuevo tabulador
Date: February 7, 2007               Dias de Vac      6
Exchange Rate: 10.83 pesos = 1 USD   Tipo de Cambio [**]
</TABLE>

<TABLE>
<CAPTION>
                                        MONTHLY
              DESCRIPTION                SALARY   ANNUAL
              -----------------------   -------   ------
<S>           <C>                       <C>       <C>
              Monthly Salary              [**]     [**]
   LEGAL      Christmas Bonus             [**]     [**]
              Vacation Days               [**]     [**]
              Vacation Premium            [**]     [**]
              Social Security/Housing     [**]     [**]
              Salary Credit               [**]     [**]
              State Payroll Tax           [**]     [**]
              Profit Sharing              [**]     [**]
              Attendence Bonus            [**]     [**]
                 SUBTOTAL I               [**]     [**]
DEL MERCADO
              Grocery Bonus               [**]     [**]
              Savings Fund                [**]     [**]
                 SUBTOTAL II              [**]     [**]
   OTHER      Major Medical               [**]     [**]
              Life Insurance              [**]     [**]
                 SUBTOTAL III             [**]     [**]
              TOTAL PESOS                 [**]     [**]
              TOTAL USD                   [**]     [**]
</TABLE>

FOOTNOTES:

Calculations are only applicable for the first [**] months as long as the
employee does not receive payments for IMSS, Retirement, INFONAVIT, Employment
Risk with applicable porcentages as of February 13, 2007

Minimum wage for D.F.$[**]

Minimum wage for Zone "C" $[**]

Termination payment for [**] years of seniority

Severance limit [**]

Vacation Time for [**] years of seniority - [**] days

IMSS Integration Factor (Factor de Integracion IMSS) [**] without including
variable wages

Grocery cupons - Any amount up to $[**] pesos daily is IMSS (social

security) exempt. The amounts that exceed will be subject to to the respective
IMSS, SAR and Infonavit =[**]

State Payroll Tax Factor 1.9% plus surtax 5% UAZ

Saving Funds limit [**] times the minimum wage Zone C [**]

Grocery Cupons annual limit for employee payment [**]

Attendance and punctuality bonus [**] for each concept. Bonus will be lost if
employee does not work [**] hours.

<PAGE>

EXHIBIT F

ANNUAL COMPENSATION CALCULATION(EMPLOYER COST)

Position: _______________

<TABLE>
<S>                                                              <C>    <C>
Prepared by: Gerardo Macias, Entrada Group de Mexico SRL de CV
For: Salario Diario                                              [**]   Salario del nuevo tabulador despues de 3 meses
Date: February 13, 2007 Dias de Vac                                6
Exchange Rate: 10.83 pesos = 1 USD   Tipo de Cambio              [**]
</TABLE>

<TABLE>
<CAPTION>
                                        MONTHLY
              DESCRIPTION                SALARY   ANNUAL
              -----------------------   -------   ------
<S>           <C>                       <C>       <C>
              Monthly Salary              [**]     [**]
   LEGAL      Christmas Bonus             [**]     [**]
              Vacation Days               [**]     [**]
              Vacation Premium            [**]     [**]
              Social Security/Housing     [**]     [**]
              Salary Credit               [**]     [**]
              State Payroll Tax           [**]     [**]
              Profit Sharing              [**]     [**]
              Attendence Bonus            [**]     [**]
                           SUBTOTAL I     [**]     [**]
DEL MERCADO
              Grocery Bonus               [**]     [**]
              Savings Fund                [**]     [**]
                          SUBTOTAL II     [**]     [**]
   OTHER      Major Medical               [**]     [**]
              Life Insurance              [**]     [**]
                         SUBTOTAL III     [**]     [**]
              TOTAL PESOS                 [**]     [**]
              TOTAL USD                   [**]     [**]
</TABLE>

FOOTNOTES:

Calculations are only applicable for the first [**] months as long as the
employee does not receive payments for IMSS, Retirement, INFONAVIT,

Employment Risk with applicable porcentages as February 13, 2007

Minimum wage for D.F. $[**]

Minimum wage for Zone "C" $[**]

Applicable compensation for [**] years of seniority

Seniority bonus limit to [**] Vacation Time for [**] years of seniority - [**]
days

IMSS Integration Factor (Factor de Integracion IMSS) [**] without including
variable wages

Grocery Bonus - Any amount exceding the maximum amount of IMSS retention of
$[**] pesos daily, will apply to the respective IMSS, SAR and Infonavit =[**]

State Tax Factor 1.9% plus 5% UAZ

Saving Funds limit [**] times the minimum wage Zone C [**]

Grocery Bonus annual limit for employee payment [**]

Attendance and punctuality bonus [**] for each concept. Bonus will be lost if
employee does not work [**] hours.

<PAGE>

                                   EXHIBIT "H"

                              COMMODATUM AGREEMENT

COMMODATUM AGREEMENT (THIS "AGREEMENT") ENTERED INTO AMONG NXSTAGE MEDICAL,
INC., ORGANIZED AND EXISTING UNDER THE LAWS OF THE STATE OF DELAWARE
(HEREINAFTER REFERRED TO AS THE "BAILOR"), BY ENTRADA GROUP DE MEXICO, S. DE
R.L. DE C.V., A MEXICAN LIMITED LIABILITY COMPANY (HEREINAFTER REFERRED TO AS
THE "BAILEE") AND BY ENTRADA PARTNERS, A TEXAS LIMITED PARTNERSHIP ("ENTRADA"),
PURSUANT TO THE FOLLOWING RECITALS AND CLAUSES:

                                    RECITALS

A.   That Bailor, Bailee and Entrada, through their representatives, state that
     they are parties to that certain Shelter Agreement dated as of March 1,
     2007 as amended (the "Shelter Agreement"), under which Entrada and Bailee
     agreed to provide certain services with regard to products of Bailor.

B.   Bailee, through its representative, states that, in order to carry out its
     obligations under agreement referred to in paragraph A. above, it requires
     from Bailor the delivery in bailment (commodatum) of certain machinery,
     tools and equipment listed and described in Exhibit "A" which, duly signed
     by the parties, is attached to this Agreement (hereinafter referred as the
     "Equipment").

C.   Bailor, through its representative, desires to grant the temporary and
     gratuitous use of the Equipment to the Bailee in order for the Bailee to
     carry out its obligations under the agreement mentioned in paragraph A.
     above.

D.   Entrada and Bailee, through their legal representatives, recognize that the
     Equipment is and will continue to be owned by Bailor and that the latter
     has authorized the deliver of the Equipment to the Bailee, and that the
     Bailee will assume any and all obligations as Bailee of the Equipment under
     the terms of this Agreement.

E.   Bailor states that for all legal purposes it has its domicile at 439 South
     Union Street, Lawrence, MA 01843, United States of America.

F.   Bailee states that for all legal purposes it has its domicile at Carr.
     Fresnillo A Plateros KM 2 S/N, Parque Industrial Fresnillo, Fresnillo,
     Zacatecas C.P. 99059, Mexico.

G.   Entrada states that for all legal purposes it has its domicile at 236
     Castano Avenue, San Antonio, Texas 78209, United States of America

In consideration of the foregoing, the parties agree to the following:

                                       -1-

<PAGE>

                                     CLAUSES

FIRST.- PURPOSE OF THE AGREEMENT. Bailor gratuitously and temporarily grants to
Bailee the custody of the Equipment referred to in Recital B. of this Agreement,
for the exclusive purpose stated in Recital C. At all times, title and ownership
of Equipment shall remain vested in Bailor. Therefore, the Bailee and Entrada
hereby agree not to represent to any third party or authority, including the
Mexican Customs authorities, as being the owners of the Equipment.

SECOND.- DELIVERY OF EQUIPMENT. Bailor shall deliver the Equipment to Bailee in
commodatum, at the times agreed to by the parties. The parties may from time to
time amend the list attached as Exhibit "A" so that it may include machinery,
tools, and/or equipment property of Bailor, which may be delivered in custody to
Bailee in the future by agreement of the parties. The Equipment shall be
complete with all its parts additions, accessories and peripherals in operating
condition.

Bailor will deliver the Equipment at Laredo, TX United States of America, and,
with Bailor's US Customs Broker's cooperation, Bailee shall import the Equipment
into Mexico under the temporary importation regime under Bailee's Maquiladora
Program, or any other similar or applicable program. Any item added to the
Equipment delivered to Bailee under the terms and conditions herein established,
shall continue to be imported on a temporary basis and must be used in the
domicile at Carr. Fresnillo A Plateros KM 2 S/N, Parque Industrial Fresnillo,
Fresnillo, Zacatecas C.P. 99059, Mexico, unless the parties agree to carry out
the importation under the permanent importation regime.

Bailee shall comply with all legal provisions applicable to the temporary
importation of the Equipment and Bailor's US Customs Broker and Bailee's Customs
Broker shall provide all the administrative services necessary to carry out the
importation of the Equipment into Mexico. Bailee shall appear as the importer of
record of the Equipment in all the paperwork and documents used for such
importation into Mexico, however, it is expressly agreed that Bailor is and
shall continue to be the owner of the Equipment. For any Equipment that it is
imported into Mexico after the execution of this Agreement, the commercial
invoice to be utilized to import the Equipment into Mexico shall state that such
commercial invoice is issued exclusively for customs purposes in order to import
into Mexico the goods covered by same and therefore does not transfer the
ownership of the goods.

THIRD.- EXPENSES. The necessary expenses for the use, maintenance, repair and
preservation, as well as all expenses related to the use, operation, security
measures, and necessary personnel for the use of the Equipment hereby given in
commodatum will be the exclusive responsibility of Bailor.

FOURTH.- LOCATION OF EQUIPMENT. Bailee shall maintain the Equipment at the
address located at Carr. Fresnillo A Plateros KM 2 S/N, Parque Industrial
Fresnillo, Fresnillo, Zacatecas C.P. 99059, Mexico, as well as all the permits,
licenses and official documentation pertaining to the importation into Mexico of
the Equipment, at the domicile mentioned in Recital F. above, and may not remove
it from said location without the prior written consent of Bailor. Bailor shall
not remove the Equipment or cause the Equipment to be removed from said location
without the proper customs documentation prepared by Bailee's Mexican Customs
Broker or in violation to this agreement.

FIFTH.- NO DISPOSITION OR ENCUMBRANCES. Bailee shall not sell nor assign its
rights hereunder unless authorized by the Shelter Agreement and its Exhibits or
in any manner encumber, pledge or otherwise cause a lien on the Equipment.
Bailee further agrees to protect the Equipment from any and all third party
claims and for such purposes agrees and undertakes to file this Agreement for
registration with the Public Registry of Property within ten (10) calendar days
following the execution of this agreement. The cost for recordation of this
Agreement and any expenses, fees and costs related to the protection and defense
of the Equipment for causes not attributable to Bailee shall be borne by Bailor.

<PAGE>

Bailor shall label all Equipment, with the following legend "Propiedad de
NxStage Medical, Inc.") (Property of NxStage Medical, Inc.).

SIXTH.- USE OF EQUIPMENT. The Equipment provided by Bailor shall be used
exclusively for the performance of the obligations contained in the "Shelter
Agreement" for the benefit of Bailor.

SEVENTH.- LOSS OF EQUIPMENT AND ORDINARY WEAR AND TEAR. Subject to the
provisions of the Shelter Agreement Bailor shall bear the risk of loss, damage,
or ordinary wear and tear of the Equipment occurring at any time and whether the
Equipment is located in Mexico or in the United States.

EIGHTH.- INSURANCE. As provided in the Shelter Agreement, Bailor will be
responsible for contracting insurance coverage for the Equipment.

NINTH.- RETURN OF EQUIPMENT. Bailee shall immediately return, at Bailor's cost
to any address that Bailor may designate, the Equipment to Bailor when Bailor so
requests, as no specific duration for the commodatum has been agreed upon
hereunder; and therefore, pursuant to Article _______ the Civil Code for the
State of Zacatecas. Bailor has the right to demand the return of the Equipment
at any time.

TENTH.- INSPECTION. Bailor reserves unto itself the right to inspect the
Equipment at any time whatsoever.

ELEVENTH.- COMPLIANCE WITH LAWS. Bailee covenants, at its own cost, subject to
the provisions of this Agreement and the Shelter Agreement, to comply with all
laws, regulations and other legal provisions applicable to the Equipment and to
notify Bailor immediately, in writing, of any claim, demand, litigation, or any
other lien, that might affect the Equipment.

TWELFTH.- RECOVERY OF EQUIPMENT. Bailor will have the right to recover the
Equipment at any time and Bailee covenants to return it at the Customs House of
the City of Laredo, TX United States of America, or to any other address that
Bailor may designate, upon request by Bailor. All expenses, including but not
limited to, Mexican customs fees, export duties, transportation, and any other
type of expenses will be the exclusive responsibility of Bailor.

Upon written request by Bailor to Bailee, Bailee shall deliver and transfer the
Equipment to Bailor within a reasonable time. Such transfer shall be made in
accordance with Article 112 of the Customs Law and the General Foreign Trade
Rules of the year in which the transfer is made.

Bailee recognizes that Bailor may transfer title to the Equipment and assign its
rights under this Agreement at any time. In such case, Bailor will notify, in
writing, Bailee about the assignment its interest under this Agreement and the
name of its successor.

THIRTEENTH.- TERM. This Agreement shall continue in force for an indefinite
period of time. However, this Agreement will terminate on the same date that the
Shelter Agreement is terminated. Upon termination for any reason of this
Agreement, Bailee shall immediately return, at Bailor's cost to any address that
Bailor may designate, the Equipment to Bailor. Bailor shall be exclusively
responsible for any taxes that are imposed in connection with such transfer of
title to the Equipment.

<PAGE>

FOURTEENTH.- REGISTRATION. The parties agree that this Agreement and any of its
amendments shall be recorded with the Public Registry of Property of the city
where the Equipment will be located within ten (10) calendar days after this
Agreement and any of its amendments is executed. Bailor shall pay for the cost
of recordation.

FIFTEENTH.- NOTICES. Every notice or other communication required or
contemplated by this Agreement shall be given to the other party pursuant to the
same terms and conditions as set forth in the Shelter Agreement.

SIXTEENTH.- JURISDICTION AND APPLICABLE LAW. For the interpretation and
fulfillment of this agreement, the parties hereby expressly submit to the
jurisdiction of the competent courts in the City of Fresnillo, Zacatecas,
Mexico, and to the applicable commercial laws of Mexico, expressly waiving any
other jurisdiction and law that might correspond to them by virtue of their
present or future domicile or for any other reason whatsoever.

SEVENTEENTH.- This Agreement shall be executed in Spanish and English versions,
therefore the parties agree that in the event a dispute or other inconsistency
should arise regarding interpretation or meaning of terms and obligations
described herein, the Spanish version shall control.

                            [SIGNATURE PAGE FOLLOWS]

<PAGE>

This agreement is executed, in five sets, in the dates and places mentioned
herein below.

BAILOR                                  BAILEE

NXSTAGE MEDICAL, INC.,                  ENTRADA GROUP DE MEXICO,
                                        S. DE R.L. DE C.V

By: /s/ Jefffrey H. Burbank             By: /s/ Paul Karon
    ---------------------------------       ------------------------------------
Name: Jeffrey H. Burbank                Name: Paul Karon
Position: President & CEO               Position: Legal Representative
Date: 3/19/07                           Date: 3/20/07
Place: MA                               Place:
                                               ------------

ENTRADA
ENTRADA PARTNERS, A TEXAS LIMITED
PARTNERSHIP

By: /s/ Paul Karon
    ---------------------------------
Name: Paul Karon
Position: President, Global Factory,
          Managing Partner
Date: 3/20/07
Place: San Antonio, TX 78209

WITNESS                                 WITNESS

By: /s/ J. C. Bennett                   By: /s/ Douglas Donahue
    ---------------------------------       ------------------------------------
Name: Mr. J. C. Bennett                 Name: Mr. Doulgas Donahue
Address: 232 Castino Ave.               Address: 148 Morningside
         San Antonio, TX 78209                   San Antonio, TX 78209

<PAGE>

                                   Exhibit "A"

                         List of Machinery and Equipment

<PAGE>

CONTRATO DE COMODATO (ESTE "CONTRATO") QUE CELEBRAN POR Y ENTRE, NXSTAGE
MEDICAL, INC., UNA SOCIEDAD CONSTITUIDA Y EXISTENTE DE CONFORMIDAD CON LAS LEYES
DEL ESTADO DE DELAWARE, ESTADOS UNIDOS DE AMERICA (A LA CUAL EN LO SUCESIVO SE
DENOMINARA EL "COMODANTE"), Y POR ENTRADA GROUP DE MEXICO, S. DE R.L. DE C.V.,
UNA SOCIEDAD DE RESPONSABILIDAD LIMITADA MEXICANA, (A LA CUAL EN LO SUCESIVO SE
DENOMINARA EL "COMODATARIO") Y POR ENTRADA PARTNERS, UNA SOCIEDAD DE TEXAS,
ESTADOS UNIDOS DE AMERICA ("ENTRADA"), AL TENOR DE LAS SIGUIENTES:

                                  DECLARACIONES

A.   Que tanto el Comodante, el Comodatario y Entrada, son partes de cierto
     Contrato de Servicios que celebraron el dia March 1, 2007 y sus
     modificaciones (el "Contrato de Servicios"), bajo el cual Entrada y el
     Comodatario se obligan a proporcionar ciertos servicios respecto de
     productos de Comodante.

B.   El Comodatario, a traves de su representante, manifiesta que, con el fin de
     cumplir con sus obligaciones derivadas del contrato mencionado en el
     parrafo A. anterior, requerira la entrega en comodato por parte del
     Comodante de cierta maquinaria, herramienta y equipo el cual se detalla en
     la lista, firmada por ambas partes, que se agrega al presente contrato como
     Anexo "A" (en lo sucesivo, el "Equipo").

C.   El Comodante, a traves de su representante, manifiesta que desea otorgar el
     uso gratuito y temporal del Equipo al Comodatario a efecto de que este
     cumpla con sus obligaciones conforme al contrato referido en el parrafo A.
     anterior.

D.   Entrada y el Comodatario, a traves de su representante, reconocen que el
     Equipo es y continuara siendo propiedad del Comodante y que esta ultima
     empresa ha autorizado la entrega del Equipo al Comodatario, y que el
     Comodatario asumira todas y cada una de las obligaciones como comodatario
     del Equipo en los terminos de este Contrato.

E.   El Comodante senala como domicilio el ubicado en 439 South Union Street,
     Lawrence, MA 01843, Estados Unidos de America.

F.   El Comodatario senala como domicilio el ubicado en Carr. Fresnillo A
     Plateros KM 2 S/N, Parque Industrial Fresnillo, Fresnillo, Zacatecas C.P.
     99059, Mexico.

G.   Entrada senala como domicilio el ubicado en 236 Castano Avenue, San
     Antonio, Texas 78209, Estados Unidos de America.

En virtud de lo anterior, las partes otorgan las siguientes:

                                    CLAUSULAS

PRIMERA.- OBJETO DEL CONTRATO. El Comodante concede gratuitamente y
temporalmente al Comodatario la custodia del Equipo que se menciona en la
Declaracion B. de este contrato, para el exclusivo fin que se senala en la
Declaracion C. El Comodatario y Entrada convienen y se obligan en no ostentarse
ante cualquier tercero o autoridad gubernamental, incluyendo las autoridades
aduaneras mexicanas, como propietarios del Equipo.

<PAGE>

SEGUNDA.- ENTREGA DEL EQUIPO. El Comodante entregara al Comodatario, en las
fechas en que las partes acuerden, el Equipo en calidad de Comodato. Las partes
podran modificar periodicamente la lista que se adjunta como Anexo "A", a efecto
de que se incluya maquinaria, herramienta y/o equipo propiedad de Comodante, que
por acuerdo de las partes entregue el Comodante al Comodatario, en custodia, en
un futuro. El Equipo estara completo con todas sus partes, aditamentos y
accesorios y en perfectas condiciones de uso.

El Comodante entregara el Equipo en la ciudad de Laredo, TX, Estados Unidos de
America, y, con la cooperacion del Agente Aduanal estadounidense del Comodante,
el Comodatario importara el Equipo a Mexico bajo el regimen de importacion
temporal al amparo del programa de maquila de exportacion del Comodatario, o
bajo cualquier otro programa similar o aplicable. Cualquier Equipo adicional que
sea entregado al Comodatario, en los terminos del presente, continuaran siendo
importados temporalmente y deberan ser utilizados en el domicilio del
Comodatario ubicado en Carr. Fresnillo A Plateros KM 2 S/N, Parque Industrial
Fresnillo, Fresnillo, Zacatecas C.P. 99059, Mexico, salvo que las partes
acuerden llevar a cabo la importacion bajo el regimen de importacion definitiva.

El Comodatario debera cumplir con todas las disposiciones aplicables a la
importacion temporal del Equipo y el Agente Aduanal estadounidense del Comodante
y el Agente Aduanal del Comodatario deberan proporcionar cualquier servicio
administrativo necesario para llevar a cabo la importacion temporal del Equipo a
Mexico. El nombre del Comodatario debera aparecer en los documentos de
importacion del Equipo, sin embargo, queda expresamente convenido que el
Comodante mantendra en todo momento la propiedad del Equipo. Para cualquier
importacion de Equipo que se lleve a cabo con posterioridad a la celebracion de
este Contrato, la factura o comprobante comercial que se utilice para la
importacion del Equipo debera indicar que dicha factura comercial se expide
unicamente para efectos aduanales a efecto de llevar a cabo la importacion
temporal a Mexico de los bienes que se amparan por la misma, y por lo tanto no
se transfiere la propiedad de dichos bienes.

TERCERA.- GASTOS. Seran por cuenta exclusiva del Comodante todos los gastos
necesarios para el uso mantenimiento, reparacion y conservacion, asi como todos
los gastos relacionados con las medidas de seguridad y personal necesario para
la operacion del Equipo otorgado en Comodato.

CUARTA.- UBICACION DEL EQUIPO. El Comodatario debera conservar el Equipo en el
domicilio ubicado en Carr. Fresnillo A Plateros KM 2 S/N, Parque Industrial
Fresnillo, Fresnillo, Zacatecas C.P. 99059, Mexico, asi como todos los permisos,
licencias y documentacion oficial concerniente a su importacion, en el domicilio
mencionado en la Declaracion F. anterior, y no podra removerla de dicho
domicilio sin el previo consentimiento por escrito del Comodante. El Comodante
no removera el Equipo, ni hara que el Equipo sea removido de dicha ubicacion,
sin la documentacion aduanera apropiada preparada por el Agente Aduanal mexicano
del Comodatario, o en violacion de este contrato.

QUINTA.- NO DISPOSICION O GRAVAMENES. El Comodatario no podra vender ni ceder
sus derechos bajo este contrato, salvo que se encuentre autorizado para ello por
el Contrato de Servicios y sus anexos, ni de manera alguna gravar, dar en prenda
o establecer gravamen alguno sobre el Equipo. El Comodatario ademas conviene en
proteger el Equipo de cualquier reclamo proveniente de terceros y para tal
efecto conviene en presentar a registro el presente contrato ante el Registro
Publico de la Propiedad dentro de los diez (10) dias naturales siguientes a la
firma del presente contrato. El costo de registro de este contrato y cualesquier
gastos, honorarios y costos relacionados con la proteccion y defensa del Equipo
por causas no imputables al Comodatario sera por cuenta del Comodante.

El Comodatario marcara todo el Equipo con la leyenda "Propiedad de NxStage
Medical, Inc.".

SEXTA.- USO DEL EQUIPO. El Equipo otorgado en comodato por el Comodante debera
ser utilizado unica y exclusivamente para llevar a cabo las obligaciones
contenidas en el "Contrato de Servicios" a beneficio del Comodante.

<PAGE>

SEPTIMA.- PERDIDA DEL EQUIPO. Sujeto a los terminos del Contrato de Servicios,
el Comodante asume el riesgo sobre la perdida total o parcial del Equipo, o dano
al mismo, asi como por el desgaste normal que sufra el mismo, en cualquier
momento ya sea que el Equipo se encuentre ubicado en Mexico o en los Estados
Unidos.

OCTAVA.- SEGUROS. Tal y como se establece en el Contrato de Servicios, el
Comodante sera responsable de contratar una poliza de seguro de cobertura para
el Equipo.

NOVENA.- DEVOLUCION DEL EQUIPO. En virtud de que no se ha determinado plazo del
Comodato, y de conformidad con el Articulo ____ del Codigo Civil del Estado de
Zacatecas, el Comodante tiene el derecho de exigir la devolucion del Equipo en
cualquier momento, en cuyo caso se tendra por terminado el presente contrato, el
Comodatario, a costo del Comodante, devolvera inmediatamente el Equipo al
Comodante, en el domicilio que el Comodante designe y cuando este se lo
solicite.

DECIMA.- INSPECCION. El Comodante se reserva el derecho de inspeccionar el
Equipo en cualquier momento que lo considere conveniente.

DECIMA PRIMERA.- CUMPLIMIENTO DE LEYES. El Comodatario se obliga, a su costa,
sujeto a las disposiciones de este contrato y del Contrato de Servicios, a
cumplir con todas las leyes, reglamentos y demas disposiciones legales
aplicables al Equipo, y a notificar de inmediato y por escrito al Comodante de
cualquier reclamacion, demanda, litigio, embargo, o cualquier otro gravamen o
limitacion que pueda afectar al Equipo.

DECIMA SEGUNDA.- RECUPERACION DEL EQUIPO. El Comodante tendra derecho a
recuperar el Equipo en cualquier momento y el Comodatario se obliga a entregarlo
en la Aduana de la ciudad de Laredo, TX, Estados Unidos de America, o en
cualquier otro domicilio que el Comodante designe. Todos los gastos de entrega
del Equipo, tales como honorarios aduanales, derechos de exportacion, transporte
y de cualquier otro tipo seran por cuenta exclusiva del Comodante.

Si el Comodante asi se lo solicita al Comodatario por escrito, el Comodatario se
obliga a hacer la entrega del Equipo, dentro de un periodo razonable de tiempo,
mediante la formalizacion de una transferencia aduanal del Equipo a la empresa
maquiladora que el Comodante le indique. Dicha transferencia debera hacerse en
los terminos del articulo 112 de la Ley Aduanera y de conformidad con las Reglas
de Caracter General en materia de Comercio Exterior del ano en el que se lleve a
cabo la entrega.

El Comodatario reconoce que el Comodante podra transferir la propiedad del
Equipo y ceder sus derechos bajo el presente Contrato en cualquier tiempo. En
dicho caso, el Comodante notificara, por escrito, al Comodatario de dicha cesion
y del nombre de su sucesor. El Comodante sera el unico responsable del pago de
cualesquier impuestos que se causen en relacion con dicha transmision de la
propiedad del Equipo.

DECIMA TERCERA.- TERMINO. La vigencia del presente contrato sera por un termino
indefinido. Sin embargo, el presente contrato terminara en la misma fecha en que
el Contrato de Servicios termine. A la terminacion de este contrato por
cualquier razon, el Comodatario, a costo del Comodante, devolvera el Equipo
inmediatamente al Comodante, en el domicilio que el Comodante designe.

<PAGE>

DECIMA CUARTA.- REGISTRO. Las partes convienen en que este Contrato y
cualesquier convenio modificatorio que en su caso celebren, debera registrarse
ante el Registro Publico de la Propiedad en la ciudad donde se encuentre
localizado el Equipo dentro de los diez (10) dias siguientes de que el presente
contrato o cualesquier modificacion al mismo sea formalizada. El Comodante
pagara el costo de dicho registro.

DECIMA QUINTA.- NOTIFICACIONES. Cualquier notificacion o comunicacion que se
requiera dar conforme al presente contrato se dara de conformidad con los
terminos y condiciones senalados en el Contrato de Servicios.

DECIMA SEXTA.- JURISDICCION Y LEY APLICABLE. Para todo lo relacionado con la
interpretacion y cumplimiento del presente Contrato, las partes se someten a la
jurisdiccion y competencia de los Tribunales de la Ciudad de Fresnillo,
Zacatecas, Mexico, y a las leyes mercantiles mexicanas aplicables, expresamente
renunciando a cualquier otro fuero y ley que pudiera llegar a corresponderles
por razon de sus domicilios presentes o futuros o por cualquier otra causa.

DECIMA SEPTIMA.- INTERPRETACION. Este contrato debera celebrarse en los Idiomas
Ingles y espanol. Sin embargo, en el caso de que alguna contradiccion llegare a
surgir relacionada con la interpretacion o el significado del mismo, las partes
estan de acuerdo en que la version en espanol prevalecera.

                             [SIGUE HOJA DE FIRMAS]

<PAGE>

Este contrato se firma en cinco tantos en los lugares y fechas que a
continuacion se indican.

COMODANTE                               COMODATARIA

NXSTAGE MEDICAL, INC.,                  ENTRADA GROUP DE MEXICO,
                                        S. DE R.L. DE C.V

Por: /s/ Jeffrey H. Burbank             Por: /s/ Paul Karon
     --------------------------------        -----------------------------------
Nombre: Jeffrey H. Burbano              Nombre: Paul Karon
Cargo: President & CEO                  Cargo: Legal Representative
Fecha: 3/19/07                          Fecha: 3/20/07
Lugar: MA                               Lugar:
                                               ----------

ENTRADA

ENTRADA PARTNERS, UNA SOCIEDAD DE
TEXAS, ESTADOS UNIDOS DE AMERICA

Por: /s/ Paul Karon
     ---------------------------------
Nombre: Paul Karon
Cargo: Global Factory, Managing Partner
Fecha: 3/20/07
Lugar: San Antonio, TX 78209

TESTIGOS

Por: /s/ J.C. Bennett                   Por: /s/ Douglas Donahue
     --------------------------------        -----------------------------------
Nombre: J.C. Bennett                    Nombre: Douglas Donahue
Domicilio: 232 Castino Ave.             Domicilio: 148 Morningside
           San Antonio, TX 78209                   San Antonio, TX 78209

<PAGE>

                                    ANEXO "A"

                          Lista de Maquinaria y Equipo

                                      -12-

<PAGE>

NXSTAGE - ENTRADA SHELTER AGREEMENT

COMMADATUM AGREEMENT - EXHIBIT A - MACHINERY, TOOLS AND EQUIPMENT LIST

     Lunch room equipment
     Lunch room furniture
     Office furniture
     Office furniture - cubicles
     Conference room furniture
     Air compressor and dryer
     Back-up compressor
     Wireless AP
     SonicWall Firewall/VPN
     Domain Controller Server
     IP Based Phone Equip - Hub
     IP Phones
     Electrical fixtures and installation
     Compressed air distribution piping
     IT cabling
     Central Vacuum
     Manufacturing floor process water and drains
     CEMA Equipment and Construction
     Racking
     Shelving
     Fork lift
     Pallet jacks
     Pallet spinner/wrapper
     Manual pallet jacks
     Portable defibrilator

     Tubing Un-Coiler
     Luggage Tag Printer
     Label Printer for Carton Labels
     Filling System for Fluid Concentrate
     Hand held ultrasonic welder
     Solvent Dispensers
     Tubing Cutters
     Tape Machines
     Scales for Inventory Count/Pkg weigh check
     Packaging Heat Sealers
     Leak Testers
     UV Lights
     Terumo Sterile Tubing Welder
     Portable Clean Room
     Fixturing for SAK Disposable
     Fixturing for PAK Disposable
     Additional Weld Thickness Gages for FMP Inspection
     Durability tester improvements
     Assy Fixture for Pea Pod
     Assy Fixture for Dual Lumen spike
     Portable carts
     Shelves
     Bins
     Benches
     Chairs
     Pressure regulators
     Calibrated rulers
     Test Fixtures, custom NxStage
     Concentrate totes

<PAGE>

NXSTAGE - ENTRADA SHELTER AGREEMENT

COMMADATUM AGREEMENT - EXHIBIT A - MACHINERY, TOOLS AND EQUIPMENT LIST
<PAGE>

NXSTAGE - ENTRADA SHELTER AGREEMENT

COMMADATUM AGREEMENT - EXHIBIT A - MACHINERY, TOOLS AND EQUIPMENT LIST

     Milling Machine
     Lathe
     Band Saw
     Immersion Circulator Model 1122S
     Scale VA-12kg
     Door force setting
     Cam Valve Adjuster
     highpot tester
     Electrical safety
     Inline temp Mesa meter 90DX
     Pinch Valve Assy Fixture
     Can valve adjuster
     Spring Adjust tool
     EFD 1500XL Epoxy Dispenser
     Mettler MT5 Scale
     Microscope
     ATP Automation Equipment
     Die Cast Tooling - Base, Door, Chassis Plates, rotor, Handles
     Cycler service test equipment and bench equip
     PFSL service test equipment and bench equip
     Service shared equipment
     Service spare test equipment
     Machine shop equipment non-capital

     3x5/3x4 Surface Plate w/stand
     MicroHite - Electronic Height gage
     Optical Comparator
     Microscope
     Drop Indicators
     Deltronic Pins up to 3/4"
     Gage Blocks & Pins
     Thread Gages - Various Go/No-Go
     Digital Camera
     Shelves
     Bins
     Benches 3x6, ESD protected and lighting
     Chairs

<PAGE>

NXSTAGE - ENTRADA SHELTER AGREEMENT

COMMADATUM AGREEMENT - EXHIBIT A - MACHINERY, TOOLS AND EQUIPMENT LIST<PAGE>

                                                                    Exhibit 10.1

                        DEVELOPMENT AND LICENSE AGREEMENT

                                     BETWEEN

                                THERASENSE, INC.

                                       AND

                               INSULET CORPORATION

                          DATED AS OF JANUARY 23, 2002

*** Confidential treatment has been requested for portions of this exhibit. The
copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as [***]. A complete version of this exhibit
has been filed separately with the Securities and Exchange Commission.
<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                            Page
                                                                            ----
<S>                                                                         <C>
RECITALS.................................................................     1

ARTICLE I................................................................     2

   DEFINITIONS...........................................................     2
      1.1  "AFFILIATE"...................................................     2
      1.2  "CLAIMS"......................................................     2
      1.3  "COMPETITOR"..................................................     2
      1.4  "CONFIDENTIAL INFORMATION"....................................     2
      1.5  "DEVELOPMENT COMMITTEE".......................................     2
      1.6  "DEVELOPMENT PROGRAM".........................................     2
      1.7  "DEVELOPMENT PROGRAM TECHNOLOGY"..............................     2
      1.8  "EFFECTIVE DATE"..............................................     2
      1.9  "FDA".........................................................     2
      1.10 "FREESTYLE METER".............................................     2
      1.11 "IMPROVEMENT".................................................     2
      1.12 "INITIAL TERM"................................................     2
      1.13 "INSULET".....................................................     2
      1.14 "INSULET LIABILITY"...........................................     2
      1.15 "INSULET MARKS"...............................................     3
      1.16 "INSULET TECHNOLOGY"..........................................     3
      1.17 "PARTY".......................................................     3
      1.18 "PRODUCT".....................................................     3
      1.19 "PRODUCT TECHNOLOGY"..........................................     3
      1.20 "PUMP"........................................................     3
      1.21 "REMOTE CONTROLLER"...........................................     3
      1.22 "RIGHT".......................................................     3
      1.23 "SPECIFICATIONS"..............................................     3
      1.24 "TECHNICAL INFORMATION........................................     3
      1.25 "TERRITORY"...................................................     3
      1.26 "TEST STRIPS".................................................     3
      1.27 "THERASENSE"..................................................     3
      1.28 "THERASENSE LIABILITY"........................................     3
      1.29 "THERASENSE MARKS"............................................     3
      1.30 "THERASENSE PATENTS"..........................................     3
      1.31 "THERASENSE TECHNOLOGY".......................................     3

ARTICLE II...............................................................     3

   THE DEVELOPMENT PROGRAM...............................................     4
      2.1  GENERAL.......................................................     4
      2.2  OVERSIGHT AND SPECIFICATIONS..................................     4
      2.3  TECHNICAL INFORMATION.........................................     4
      2.4  WORK, COSTS AND FACILITIES....................................     4
      2.5  PATENT AND CONFIDENTIAL INFORMATION AGREEMENTS................     4
      2.6  COMPLIANCE WITH SPECIFICATIONS................................     4
      2.7  GOVERNMENTAL APPROVALS........................................     5
      2.8  MANUFACTURING RIGHTS..........................................     5
      2.9  TECHNICAL ASSISTANCE..........................................     5
      2.10 THERASENSE COMPONENTS.........................................     5
      2.11 MODIFICATIONS.................................................     5
</TABLE>

                                       -i-

<PAGE>

<TABLE>
<S>                                                                         <C>
ARTICLE III..............................................................     6

   CONFIDENTIAL INFORMATION..............................................     6
      3.1  TREATMENT OF CONFIDENTIAL INFORMATION.........................     6
      3.2  RELEASE FROM RESTRICTIONS.....................................     6

ARTICLE IV...............................................................     7

   INTELLECTUAL PROPERTY RIGHTS..........................................     7
      4.1  THERASENSE TECHNOLOGY.........................................     7
      4.2  INSULET TECHNOLOGY............................................     7
      4.3  DEVELOPMENT PROGRAM TECHNOLOGY................................     7
      4.4  RESPONSIBILITY FOR PROTECTION OF TECHNOLOGY...................     7
      4.5  RIGHT OF OTHER PARTY TO PROSECUTE APPLICATIONS................     8
      4.6  ASSISTANCE....................................................     9
      4.7  CLAIMED INFRINGEMENT..........................................     9
      4.8  WARRANTY......................................................    11

ARTICLE V................................................................    12

   LICENSES..............................................................    12
      5.1  PATENT LICENSE................................................    12
      5.2  TECHNICAL INFORMATION LICENSE.................................    12
      5.3  DEVELOPMENT PROGRAM TECHNOLOGY LICENSE........................    12
      5.4  TRADEMARK LICENSES............................................    13

ARTICLE VI...............................................................    14

   MARKETING, SALES PROMOTION AND CUSTOMER SUPPORT.......................    14
      2.8  COMMERCIALIZATION.............................................    14
      6.2  MARKETING AND CUSTOMER SUPPORT ASSISTANCE.....................    14
      6.3  LABELING......................................................    14
      6.4  REPORTING AND NOTICE..........................................    15
      6.5  COMPLAINTS AND RECALLS........................................    16
      6.6  PUBLICITY.....................................................    16

ARTICLE VII..............................................................    17

   TERMINATION...........................................................    17
      7.1  TERM..........................................................    17
      7.2  TERMINATION FOR CAUSE.........................................    17
      7.3  TERMINATION FOR LACK OF PROGRESS..............................    17
      7.4  DISPOSITION OF LICENSED PRODUCTS..............................    18
      7.5  SURVIVAL OF OBLIGATIONS; RETURN OF CONFIDENTIAL INFORMATION...    18
      7.6  ACCRUED OBLIGATIONS...........................................    18

ARTICLE VIII.............................................................    19

   MISCELLANEOUS.........................................................    19
      8.1  COMPETING SYSTEMS.............................................    19
      8.2  LIMITATION OF LIABILITY; INSURANCE............................    19
      8.3  ASSIGNMENT....................................................    19
      8.4  GOVERNING LAW.................................................    20
      8.5  FORCE MAJEURE.................................................    20
      8.6  WAIVER........................................................    20
      8.7  NOTICES.......................................................    20
      8.8  NON-SOLICITATION..............................................    21
      8.9  NO AGENCY.....................................................    21
      8.10 ENTIRE AGREEMENT..............................................    21
      8.11 HEADINGS......................................................    21
</TABLE>

                                      -ii-

<PAGE>

<TABLE>
<S>                                                                         <C>
      8.12 SEVERABILITY..................................................    21
      8.13 SUCCESSORS AND ASSIGNS........................................    21
      8.14 COUNTERPARTS..................................................    22
      8.15 DISPUTE RESOLUTION............................................    22
      8.16 INSULET LIABILITY; THERASENSE LIABILITY.......................    23
</TABLE>

                                      -iii-
<PAGE>

                        DEVELOPMENT AND LICENSE AGREEMENT

     AGREEMENT dated as of January 23, 2002, between TheraSense, Inc., a
Delaware corporation, having its principal place of business at 1360 South Loop
Road, Alameda, CA 94502 (hereinafter referred to as "TheraSense") and Insulet
Corporation, a Delaware corporation having its principal place of business at
100 Cummings Center, Suite 231G, Beverly, MA 01915 (hereinafter referred to as
"Insulet").

                                    RECITALS

     WHEREAS, TheraSense has developed electronic hardware and software capable
of coulometrically measuring glucose in a human blood sample that is currently
marketed by TheraSense as its "FreeStyle" meter (the "FreeStyle Meter");

     WHEREAS, TheraSense has developed and currently markets glucose test strips
for use in conjunction with the FreeStyle Meter (the "Test Strips");

     WHEREAS, Insulet desires to design, develop, manufacture and market a
patient drug delivery system (the "Product") consisting of an insulin infusion
pump (the "Pump") and a hand held electronic device for controlling the Pump
(the "Remote Controller"), which includes a wireless transceiver for
communicating with the Pump, diabetes management software and a meter capable of
coulometrically measuring glucose in a human blood sample;

     WHEREAS, Insulet desires to adapt the FreeStyle Meter for use with the
Remote Controller;

     WHEREAS, TheraSense is willing, for the consideration and upon the terms
set forth herein, to facilitate the adaptation of the FreeStyle Meter for use
with the Remote Controller; and

     WHEREAS, the Parties desire to coordinate on Insulet's marketing of the
Product and TheraSense's marketing of the Test Strips for use with the Product;

     NOW, THEREFORE, in consideration of the mutual covenants and promises
contained in this Agreement and other good and valuable consideration,
TheraSense and Insulet agree as follows:

<PAGE>

                                    ARTICLE I

                                   DEFINITIONS

     As used in this Agreement, the following terms, whether used in the
singular or plural, shall have the following meanings:

     1.1 "AFFILIATE" means any corporation, company, partnership, joint venture
and/or firm which controls, is controlled by or is under common control with a
Party. For purposes of this Section 1.1, "control" shall mean (a) in the case of
corporate entities, direct or indirect ownership of at least fifty percent (50%)
of the stock or shares entitled to vote for the election of directors; and (b)
in the case of non-corporate entities, direct or indirect ownership of at least
fifty percent (50%) of the equity interest with the power to direct the
management and policies of such non-corporate entities. Unless agreed to in
writing by the Parties, in no event shall a Competitor be an Affiliate.

     1.2 "CLAIMS" is defined in Section 8.16(a).

     1.3 "COMPETITOR" means, (i) regarding Insulet, ***.

     1.4 "CONFIDENTIAL INFORMATION" means the Technical Information and any
other information designated in writing by the disclosing Party as confidential
or proprietary, whether or not related to the subject matter hereof.

     1.5 "DEVELOPMENT COMMITTEE" is defined in Section 2.2.

     1.6 "DEVELOPMENT PROGRAM" means the collaborative effort conceived,
planned, organized, controlled and performed by the Parties to enable Insulet to
produce, manufacture and market a Product that includes the FreeStyle Meter, as
adapted for this purpose.

     1.7 "DEVELOPMENT PROGRAM TECHNOLOGY" is defined in Section 4.3.

     1.8 "EFFECTIVE DATE" means January 23, 2002.

     1.9 "FDA" means the United States Food and Drug Administration.

     1.10 "FREESTYLE METER" is defined in the Recitals.

     1.11 "IMPROVEMENT" is defined in Section 2.11.

     1.12 "INITIAL TERM" is defined in Section 7.1.

     1.13 "INSULET" means Insulet Corporation, a Delaware corporation.

     1.14 "INSULET LIABILITY" is defined in Section 8.16(a).

                                      -2-

<PAGE>

     1.15 "INSULET MARKS" means the trademarks owned and used by Insulet in
connection with the promotion, marketing and sale of the Product in the
Territory and such other trademarks as the Parties may stipulate in writing.

     1.16 "INSULET TECHNOLOGY" is defined in Section 4.2.

     1.17 "PARTY" means TheraSense or Insulet; "PARTIES" means TheraSense and
Insulet.

     1.18 "PRODUCT" is defined in the Recitals.

     1.19 "PRODUCT TECHNOLOGY" is defined in Section 4.4.

     1.20 "PUMP" is defined in the Recitals.

     1.21 "REMOTE CONTROLLER" is defined in the Recitals.

     1.22 "RIGHT" is defined in Section 4.7(a).

     1.23 "SPECIFICATIONS" is defined in Section 2.2.

     1.24 "TECHNICAL INFORMATION means electrical and mechanical designs,
manufacturing processes, component lists, software, algorithms, technical
advice, know-how, and other technical information utilized in the design and
manufacture of the FreeStyle Meter (as unaltered and unmodified, and
specifically excluding all works derived therefrom).

     1.25 "TERRITORY" means the United States of America.

     1.26 "TEST STRIPS" is defined in the Recitals.

     1.27 "THERASENSE" means TheraSense, Inc., a Delaware corporation.

     1.28 "THERASENSE LIABILITY" is defined in Section 8.16(b).

     1.29 "THERASENSE MARKS" means the "TheraSense" mark, the "FreeStyle"
trademark and such other TheraSense trademarks as the Parties may stipulate in
writing.

     1.30 "THERASENSE PATENTS" means the patents and patent applications set
forth on Schedule A hereto, all continuations and divisions of such
applications, all patents issuing from such applications, divisions and
continuations, and any reissues, reexaminations and extensions of any such
patents.

     1.31 "THERASENSE TECHNOLOGY" is defined in Section 4.1.

                                   ARTICLE II

                                      -3-

<PAGE>

                             THE DEVELOPMENT PROGRAM

     2.1 GENERAL. Subject to the terms and conditions contained in this
Agreement, the Parties agree to undertake the Development Program and shall use
all commercially reasonable efforts to ensure that the Development Program is
completed in a timely fashion.

     2.2 OVERSIGHT AND SPECIFICATIONS.

          (a) The Parties shall establish a committee (the "Development
     Committee"), comprised of one designee of TheraSense and one designee of
     Insulet, to oversee the Development Program. All actions of the Development
     Committee shall require the concurrence of both designees. If both
     designees do not concur, then the matter shall be referred to the Vice
     President of Business Development of TheraSense and the Chief Executive
     Officer of Insulet for resolution.

          (b) The Development Committee shall undertake commercially reasonable
     efforts to produce complete performance specifications (the
     "Specifications") of the Remote Controller, including the FreeStyle Meter
     as adapted for use with the Remote Controller, within sixty (60) days of
     the Effective Date. The Specifications shall include both accuracy and
     precision specifications, which shall meet or exceed such specifications as
     applicable to the FreeStyle Meter as then used independent of the Remote
     Controller.

     2.3 TECHNICAL INFORMATION. TheraSense shall provide the Technical
Information to Insulet and the Development Committee. If the Development
Committee determines that the Development Program could be facilitated by use of
existing TheraSense hardware and/or software (other than software provided as
part of Technical Information), then the Parties shall enter into good-faith
negotiations regarding mutually acceptable terms under which such hardware or
software may be utilized by Insulet.

     2.4 WORK, COSTS AND FACILITIES. Insulet shall undertake all engineering,
development, prototyping and manufacturing work and bear all costs incurred in
the Development Program and the production of the Product, other than costs
incurred by TheraSense in providing Technical Information and as otherwise set
forth herein or as the Parties may otherwise agree. Insulet shall provide the
facilities and staff to be utilized for the Development Program, except as
otherwise set forth herein or as the Parties may otherwise agree.

     2.5 PATENT AND CONFIDENTIAL INFORMATION AGREEMENTS. Each Party shall
require its designee to the Development Committee and all engineers, assistants,
technicians and technical personnel, including consultants, assigned to the
Development Program to execute an agreement for the assignment of inventions in
accordance with Sections 4.2 and 4.3 and for the protection of Confidential
Information in such reasonable form as may from time to time be used by the
Party for such purpose.

     2.6 COMPLIANCE WITH SPECIFICATIONS.

                                      -4-

<PAGE>

          (a) The Development Committee shall ensure that the Product complies
     with the Specifications before commercial sales of the Product commence. If
     the Development Committee is unable to verify such compliance, or its
     members are not in agreement and the matter is not resolved following the
     referral procedures set forth in Section 2.2, then Insulet shall refer the
     Product to an independent testing facility selected by Insulet, but
     reasonably acceptable to TheraSense, which shall evaluate such compliance.
     The costs of such evaluation shall be borne equally by the Parties. The
     Parties agree that Insulet shall not commence commercial sales of the
     Product until TheraSense concurs that the Product complies with the
     Specifications, provided that such concurrence shall not be unreasonably
     withheld or delayed.

          (b) TheraSense shall undertake commercially reasonable efforts to
     ensure that the Test Strips will permit the Product to function within the
     Specifications.

     2.7 GOVERNMENTAL APPROVALS.

          (a) TheraSense acknowledges that the Product has not been reviewed or
     approved for sale or use for any purpose by governmental or regulatory
     bodies in the Territory. Insulet shall be solely responsible for satisfying
     all regulatory requirements necessary for the sale by it of the Product in
     the Territory, including the conduct of all necessary clinical trials;
     provided, however, that TheraSense shall provide to Insulet or appropriate
     regulatory authority, at TheraSense's expense, all information, data,
     materials and product samples in its possession reasonably necessary to
     obtain such approvals.

          (b) TheraSense shall be solely responsible for satisfying all
     regulatory requirements necessary for all of the Test Strips in the
     Territory, including the conduct of all necessary clinical trials.

     2.8 MANUFACTURING RIGHTS. Insulet shall have sole rights and options with
respect to the manufacture of the Product. TheraSense shall have sole rights and
options with respect to the manufacture of the Test Strips.

     2.9 TECHNICAL ASSISTANCE. During the Development Program and throughout the
term of this Agreement, TheraSense shall make available to Insulet members of
TheraSense's technical staff and consultants to advise Insulet on the scale-up
of operations; the obtaining of government approvals necessary to produce,
manufacture, distribute and market the Product in the Territory; the start-up of
Insulet's commercial production of the Product; and manufacturing of the
Product, including training of Insulet personnel, as all such advice relates to
the FreeStyle Meter and the Test Strips. ***.

     2.10 THERASENSE COMPONENTS. If the Development Program could be facilitated
by using existing TheraSense components, then the Parties shall negotiate
mutually acceptable terms under which such components may be used by Insulet.

     2.11 MODIFICATIONS.

                                      -5-

<PAGE>

          (a) If TheraSense makes any modification, enhancement, bug-fix or
     upgrade to the FreeStyle Meter that (i) enhances the blood glucose
     measurement accuracy of the FreeStyle Meter, (ii) increases the blood
     glucose measurement speed of the FreeStyle Meter or (iii) reduces the size
     of the blood sample required for the FreeStyle Meter to measure blood
     glucose levels (individually hereinafter referred to as an "Improvement"),
     then, if TheraSense has the right to do so, TheraSense shall make such
     Improvement available to Insulet, and such Improvement shall be deemed to
     be part of the Technical Information for all purposes of this Agreement.
     TheraSense shall undertake commercially reasonable efforts to secure the
     rights necessary to make Improvements available to Insulet.

          (b) Insulet shall not, without prior consultation with TheraSense,
     modify the Product if such modification would result in a failure to
     conform with the Specifications.

                                   ARTICLE III

                            CONFIDENTIAL INFORMATION

     3.1 TREATMENT OF CONFIDENTIAL INFORMATION. Each Party shall maintain the
Confidential Information of the other Party in confidence, and shall not
disclose, divulge or otherwise communicate such Confidential Information to
others, or use it for any purpose, except pursuant to, and in order to carry
out, the terms and objectives of this Agreement, and hereby agrees to exercise
the same standard of care it employs to protect its own Confidential Information
(and in no event less than a reasonable standard of care) to prevent and
restrain the unauthorized disclosure of such Confidential Information by any of
its directors, officers, employees, consultants, subcontractors, sublicensees,
agents or Affiliates. Without limiting the foregoing, each Party agrees not to
make any disclosure of the other party's Confidential Information that will
impair the other Party's ability to obtain U.S. or foreign patents on any
patentable invention or discovery described in such Confidential Information.
The Confidential Information of each Party includes information about third
parties disclosed by one Party to the other Party.

     3.2 RELEASE FROM RESTRICTIONS. The provisions of Section 3.1 shall not
apply to any Confidential Information disclosed hereunder which:

          (a) was known or used by the receiving Party prior to its date of
     disclosure to the receiving Party, as evidenced by the prior written
     records of the receiving Party; or

          (b) either before or after the date of this disclosure to the
     receiving Party, is lawfully disclosed to the receiving Party by an
     independent, unaffiliated third party rightfully in possession of the
     Confidential Information; or

                                      -6-

<PAGE>

          (c) either before or after the date of the disclosure to the receiving
     Party, becomes published or generally known to the public through no fault
     or omission on the part of the receiving Party or its Affiliates and under
     no obligation of confidentiality; or

          (d) was developed by employees or agents of the receiving Party, as
     evidenced by the written records of the receiving party, such employees
     having had no access to any Confidential Information communicated to the
     receiving Party.

The receiving Party shall not be in violation of this Article III if
Confidential Information of the disclosing Party is required to be disclosed by
the receiving Party in response to a valid order by a court or other
governmental body, provided that the receiving Party provides the disclosing
Party with prior written notice of such disclosure in order to permit the
disclosing Party to seek confidential treatment of such information.

                                   ARTICLE IV

                          INTELLECTUAL PROPERTY RIGHTS

     4.1 THERASENSE TECHNOLOGY. TheraSense shall own the entire right, title and
interest in and to all TheraSense Patents, Technical Information and to all
patents, patent applications, know-how and other intellectual property rights to
any product, method or apparatus conceived, reduced to practice or developed
solely by employees or consultants of TheraSense at any time which relates to
the FreeStyle Meter and the Test Strips or their use or manufacture, including
those developed for and in the course of the Development Program (referred to,
collectively hereunder, as the "TheraSense Technology"), subject, however, to
the limited licenses granted hereunder to Insulet.

     4.2 INSULET TECHNOLOGY. Insulet shall own the entire right, title and
interest in and to all patents, patent applications, know-how and other
intellectual property rights to any product, method or apparatus conceived,
reduced to practice or developed solely by employees or consultants of Insulet
at any time which relates to the Product or its use or manufacture, including
those developed for and in the course of the Development Program (the "Insulet
Technology").

     4.3 DEVELOPMENT PROGRAM TECHNOLOGY. *** in and to all patents, patent
applications, know-how and other intellectual property rights in any product,
method or apparatus conceived, reduced to practice or developed jointly by
TheraSense and Insulet in the course of the Development Program (hereinafter,
the "Development Program Technology"), subject to the limited license thereto
granted to TheraSense under this Agreement.

     4.4 RESPONSIBILITY FOR PROTECTION OF TECHNOLOGY.

          (a) Except as otherwise provided in this Agreement, Insulet shall have
     the right and responsibility, at Insulet's expense and in its sole,
     commercially reasonable judgement, to:

                                      -7-

<PAGE>

               (i) decide whether or not to seek or continue patent protection
          in any country on any Insulet Technology and Development Program
          Technology (referred to collectively hereinafter as the "Product
          Technology");

               (ii) file for, procure and maintain patents in any country on any
          Product Technology; and

               (iii) protect and enforce any patents issued on any Product
          Technology, subject to Section 4.5.

          (b) TheraSense hereby authorizes and empowers Insulet and hereby
     grants to Insulet its permission and consent for Insulet and its authorized
     attorneys, agents or representatives to assume the responsibilities set
     forth in Section 4.4(a). Insulet agrees to assume responsibilities and to
     pay all costs and expenses incurred in carrying out such responsibilities.

          (c) Except as otherwise provided in this Agreement, TheraSense shall
     have the right and responsibility, at TheraSense's expense and in its sole,
     commercially reasonable judgement, to:

               (i) decide whether or not to seek or continue patent protection
          in any country on any TheraSense Technology and the Test Strips;

               (ii) file for, procure and maintain patents in any country on any
          TheraSense Technology and the Test Strips; and

               (iii) protect and enforce any patents issued on any TheraSense
          Technology and the Test Strips, subject to Section 4.5.

          (d) Insulet hereby authorizes and empowers TheraSense and hereby
     grants to TheraSense its permission and consent for TheraSense and its
     authorized attorneys, agents or representatives to assume the foregoing
     responsibilities. TheraSense agrees to assume all responsibilities and to
     pay all costs and expenses incurred in carrying out such responsibilities.

     4.5 RIGHT OF OTHER PARTY TO PROSECUTE APPLICATIONS. If Insulet elects not
to file a patent application or application for a certificate of invention, not
to maintain a patent or certificate of invention, or to abandon a pending patent
application or application for a certificate of invention in the Territory
regarding any Development Program Technology, Insulet shall advise TheraSense of
such election in a timely manner, and TheraSense shall have the right, at the
expense of TheraSense, of filing such application, maintaining such patent or
certificate of invention or continuing to attempt to obtain protection on the
subject matter disclosed in such pending application. In such case, TheraSense
will grant to Insulet a fully paid up, worldwide, nonexclusive license to any
such issued patent for the purpose of manufacturing, having manufactured, using,
having used, importing, having imported, selling and having sold any

                                      -8-

<PAGE>

Insulet product or service without the right to sublicense such issued patent,
except as set forth below. If TheraSense elects to file and prosecute such
application, it shall provide Insulet with written notice and Insulet shall have
*** from receipt of such notice to deliver to TheraSense Insulet's agreement
to pay ***. Upon Insulet's payment of the Shared Expenses, Insulet's license to
the issued patent described above in this Section 4.5 shall include the right to
sublicense without restriction.

     4.6 ASSISTANCE. TheraSense shall make available to Insulet or its
authorized attorneys, agents or representatives, such of TheraSense's employees
as reasonably necessary to assist Insulet in obtaining patent protection for the
Product Technology. Insulet shall reimburse TheraSense for all reasonable costs
incurred in rendering this assistance to Insulet. Insulet shall make available
to TheraSense or its authorized attorneys, agents or representatives, such of
Insulet's employees as reasonably necessary to assist TheraSense in protecting
the Development Program Technology pursuant to Section 4.5. TheraSense shall
reimburse Insulet for all reasonably costs incurred in rendering this assistance
to TheraSense. Each Party shall sign or use its best efforts to have signed all
legal documents necessary to file and prosecute patent applications or
applications for certificates of invention or to obtain or maintain patents or
certificates of invention at no charge to the other Party.

     4.7 CLAIMED INFRINGEMENT.

          (a) In the event that any claim, suit or proceeding is brought against
     TheraSense that the manufacture, use, sale or import of the Product
     infringes any patent, copyright, trade secret or similar proprietary right
     ("Right") of any third party, Insulet will defend TheraSense at Insulet's
     expense against such claim or, at Insulet's option, settle such claim
     (provided that such settlement includes a general release of all claims in
     favor of TheraSense), and will pay any settlements or judgments ultimately
     awarded against TheraSense as a result of such claim, provided that:

               (i) Insulet is notified in writing promptly after TheraSense has
          received notice of such a claim and Insulet has received a copy of all
          communications received by TheraSense in connection with such claim;

               (ii) Insulet is allowed to exercise sole control over the defense
          of the claim and all related settlement negotiations; and

               (iii) TheraSense provides to Insulet, at Insulet's expense, all
          reasonably necessary assistance, information and authority to perform
          the above.

          (b) Insulet will not be obligated to indemnify TheraSense, or
     undertake the defense, of any part of a claim under Section 4.7(a) which
     part asserts liability arising from a Right which would be infringed by the
     FreeStyle Meter alone or the Test Strips alone or the FreeStyle Meter in
     combination with the Test Strips alone.

          (c) In the event that any claim, suit or proceeding is brought against
     Insulet that the manufacture, use, sale or import of the Product infringes
     any Right of any third

                                      -9-

<PAGE>

     party, TheraSense will defend Insulet at TheraSense's expense against such
     claim or, at TheraSense's option, settle such claim (provided that such
     settlement included a general release of all claims against Insulet), and
     will pay all settlements or judgements ultimately awarded against Insulet
     as a result of such claims, provided that:

               (i) TheraSense shall only be obligated to indemnify Insulet, or
          undertake the defense, of that part of a claim under Section 4.7(c)
          which part asserts liability arising from a Right which would be
          infringed by the FreeStyle Meter alone or the Test Strips alone or the
          FreeStyle Meter in combination with the Test Strips alone;

               (ii) TheraSense is notified in writing promptly after Insulet has
          received notice of such a claim and TheraSense has received a copy of
          all communications received by Insulet in connection with such claim;

               (iii) TheraSense is allowed to exercise sole control over defense
          of the claim and all settlement negotiations; and

               (iv) Insulet provides to TheraSense, at TheraSense's expense, all
          reasonably necessary assistance, information and authority to perform
          the above.

          (d) In the event that sale of the Product is enjoined based on a
     determination that the Product, or its manufacture or use, infringes a
     Right, but where there has been no determination that any Right is
     infringed by the FreeStyle Meter (or its manufacture or use) alone or the
     Test Strips (or their manufacture or use) alone or the FreeStyle Meter in
     combination with the Test Strips (or their use in such combination) alone,
     then Insulet will use commercially reasonably efforts, at its expense and
     in its sole discretion, to:

               (i) obtain a license from any third party necessary to permit
          Insulet to continue making, selling, using and importing the Product;
          and/or

               (ii) replace or modify the Product (or its manner of manufacture
          or use) in such a manner that the injunction is no longer effective to
          stop sales of the Product.

          If, after commercially reasonable efforts, Insulet is unable to effect
     a satisfactory solution to any such infringement claim under paragraphs (i)
     or (ii) of this Section 4.7(d), it will have the right to terminate this
     Agreement upon *** notice to TheraSense.

          (e) In the event that sale of the Product is enjoined based on a
     determination that a Right is infringed by the FreeStyle Meter (or its
     manufacture or use) alone or the Test Strips (or their manufacture or use)
     alone or the FreeStyle Meter in combination with the Test Strips (or their
     use in such combination) alone, then TheraSense will use commercially
     reasonable efforts, at its expense and in its sole discretion, to:

                                      -10-

<PAGE>

               (i) obtain a license from any third party necessary to permit
          Insulet to continue making, selling, using and importing the Product;
          and/or

               (ii) replace or modify the Technical Information and/or the Test
          Strips in such a manner that the injunction is no longer effective to
          stop sales of the Product.

          If, after commercially reasonable efforts, TheraSense is unable to
     effect a satisfactory solution to any such infringement claim under
     paragraphs (i) or (ii) under this Section 4.7(e), it will have the right to
     terminate this Agreement upon *** written notice to Insulet.

          (f) This Section 4.7 constitutes the sole and exclusive remedies and
     liabilities of the Parties in respect to this subject matter hereof.

          (g) For purposes of this Section 4.7, TheraSense hereby represents and
     warrants that all components of the Technical Information, as delivered to
     Insulet and unaltered subsequently, are embedded in the FreeStyle Meter.

     4.8 WARRANTY.

          (a) TheraSense warrants that it owns the TheraSense Technology as in
     existence on the Effective Date and that TheraSense has the full power and
     right to grant the rights and licenses granted to Insulet under Sections
     5.1, 5.2 and 5.4(a) of this Agreement.

          (b) TheraSense warrants that the Test Strips and the Technical
     Information will (as applicable):

               (i) be free from defects in design, materials or workmanship;

               (ii) be of merchantable quality and fit for the purpose for which
          it or they is or are intended; and

               (iii) with respect to the Test Strips only, will conform to all
          applicable laws and regulations in the place of manufacture relating
          to the manufacture thereof.

          (c) Insulet warrants that it owns the Insulet Technology as in
     existence on the Effective Date and that Insulet has the full power and
     right to grant the rights and licenses granted to TheraSense under Section
     5.4(b) of this Agreement.

          (d) Insulet warrants that the Products:

               (i) will perform within the Specifications;

                                      -11-

<PAGE>

               (ii) will be free from defects in design (except as such defect
          may be solely related to the Technical Information), materials and
          workmanship;

               (iii) will be of merchantable quality and fit for the purposes
          for which they are intended; and

               (iv) will conform to all applicable laws and regulations in the
          place of manufacture relating to the manufacture thereof.

          (e) THIS SECTION 4.8 STATES THE PARTIES' SOLE AND EXCLUSIVE
     WARRANTIES. EXCEPT FOR THE EXPRESS WARRANTIES STATED IN THIS SECTION 4.8,
     THE PARTIES MAKE NO ADDITIONAL WARRANTIES, EXPRESS OR IMPLIED, STATUTORY OR
     OTHERWISE, AND ALL OTHER WARRANTIES, EXPRESS OR IMPLIED, AND OF
     MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, ARE EXPRESSLY
     EXCLUDED.

                                    ARTICLE V

                                    LICENSES

     5.1 PATENT LICENSE. TheraSense hereby grants to Insulet and its Affiliates
a non-exclusive, fully paid, non-transferable (except as otherwise provided in
Section 8.3), non-sublicensable license in the Territory under the TheraSense
Patents for the sole and exclusive purpose of manufacturing, having
manufactured, using, having used, importing, having imported, selling and having
sold the Product in the Territory in conjunction with the Test Strips. The
license granted pursuant to this Section 5.1 shall continue in effect until the
earlier of the termination or expiration of this Agreement (and thereafter as
provided in Article VII) or until the expiration of the last patent licensed to
Insulet hereunder. TheraSense shall retain all right, title and interest to
TheraSense Patents, subject to the limited license granted to Insulet hereunder.

     5.2 TECHNICAL INFORMATION LICENSE. TheraSense hereby grants to Insulet and
its Affiliates a non-exclusive, fully paid, non-transferable (except as
otherwise provided in Section 8.3), non-sublicensable license to use the
Technical Information in the Territory for the sole and exclusive purpose of
manufacturing, having manufactured, using, having used, importing, having
imported, selling and having sold the Product in the Territory in conjunction
with the Test Strips. The license granted pursuant to this Section 5.2 shall
continue in effect during the term of this Agreement (and thereafter as provided
in Article VII). TheraSense shall retain all right, title and interest to the
Technical Information, subject to the limited license granted to Licensed
hereunder.

     5.3 DEVELOPMENT PROGRAM TECHNOLOGY LICENSE. Insulet hereby grants to
TheraSense a perpetual, non-exclusive, fully paid, non-transferable (except as
otherwise provided herein) license under the Development Program Technology,
including the right to grant sublicenses without restriction. Insulet shall
retain all right, title and interest to the

                                      -12-

<PAGE>

Development Program Technology, subject to the limited license granted to
TheraSense hereunder.

     5.4 TRADEMARK LICENSES.

     (a) TheraSense hereby grants to Insulet and its Affiliates a limited, fully
paid, non-exclusive, non-transferable (except as otherwise provided in Section
8.3), non-sublicensable license to use and reproduce the TheraSense Marks for
the sole and exclusive purpose of marketing, distributing, selling and having
sold the Product in the Territory in conjunction with the Test Strips. The
license granted pursuant to this Section 5.4(a) shall continue in effect during
the term of this Agreement (and thereafter as provided in Article VII).
TheraSense shall retain all right, title and interest in TheraSense Marks,
subject to the limited license granted to Insulet hereunder. TheraSense shall
provide Insulet with copies of the TheraSense Marks in an appropriate form for
the uses contemplated herein. TheraSense shall have the right to approve the
appearance and placement of the TheraSense Marks in advance of their use, which
approval shall not be unreasonably withheld.

     (b) Insulet hereby grants to TheraSense and its Affiliates a limited, fully
paid, non-exclusive, non-transferable (except as otherwise provided in Section
8.3), non-sublicensable license to use and reproduce the Insulet Marks for the
sole and exclusive purpose of promoting the Products and marketing,
distributing, selling and having sold the Test Strips in the Territory. The
license granted pursuant to this Section 5.4(b) shall continue in effect during
the term of this Agreement (and thereafter as provided in Article VII). Insulet
shall retain all right, title and interest in the Insulet Marks, subject to the
limited license granted to TheraSense hereunder. Insulet shall provide
TheraSense with copies of the Insulet Marks in an appropriate form for the uses
contemplated herein. Insulet shall have the right to approve the appearance and
placement of the Insulet Marks in advance of their use, which approval shall not
be unreasonably withheld.

     (c) TheraSense agrees and acknowledges that, if it has obtained or obtains
in the future, in any country, any right, title or interest in any mark, symbol,
phrase or domain name that is identical to, includes, is similar to, or likely
to be confused with any Insulet Mark, then TheraSense has acted or will act as
an agent for the benefit of Insulet for the limited purpose of obtaining the
registration of and all right, title and interest in such mark, domain name,
symbol or phrase in favor of Insulet. Insulet agrees and acknowledges that, if
it has obtained or obtains in the future, in any country, any right, title or
interest in any mark, symbol, phrase or domain name that is identical to,
includes, is similar to, or likely to be confused with any TheraSense Mark, then
Insulet has acted or will act as an agent and for the benefit of TheraSense for
the limited purpose of obtaining the registration of and all right, title and
interest in such domain name, symbol or phrase in favor of TheraSense. Each
Party agrees to execute any and all instruments deemed by the other Party to be
necessary to satisfy its rights under this Section 5.4(c).

                                      -13-

<PAGE>

                                   ARTICLE VI

                 MARKETING, SALES PROMOTION AND CUSTOMER SUPPORT

     6.1 COMMERCIALIZATION. Promptly and diligently upon the completion of the
appropriate phase of the Development Program, Insulet shall, at its expense, or
at the expense of its Affiliates and distributors, exert commercially reasonable
efforts to:

          (a) conduct any and all necessary and appropriate animal and human
     testing on the Product, and control the manner and extent of such testing;

          (b) provide for commercial scale production of the Product;

          (c) satisfy all regulatory requirements as set forth in Section
     2.7(a);

          (d) promote and market the Product in the Territory on a diligent
     commercial basis, after approval by the FDA and other applicable regulatory
     authorities; and

          (e) provide sales and service support to customers of the Product
     within the Territory on a regular basis consistent with good business
     practices.

     6.2 MARKETING AND CUSTOMER SUPPORT ASSISTANCE.

          (a) TheraSense will, at its own expense, provide Insulet with
     marketing and technical assistance and promotional materials (in English)
     that TheraSense, in its sole discretion, considers reasonably necessary to
     assist with the promotion of the Product. Insulet may, when required,
     translate and localize any illustration, diagrams and texts furnished by
     TheraSense into other appropriate languages used in the Territory, and
     Insulet shall be entitled to distribute such literature within the
     Territory solely for the purpose of promoting sales of the Product after
     any such translations have been submitted to and approved by TheraSense,
     such approval not to be unreasonably withheld or delayed. TheraSense agrees
     to assign and hereby assigns to Insulet all rights, title and interests,
     including, but not limited to, copyright rights, in all such translations.

          (b) TheraSense will, at its own expense, provide

               (i) Insulet's support personnel with reasonable access to
          TheraSense support personnel to assist Insulet in providing customer
          support relating to the Technical Information and the Test Strips; and

               (ii) provide a reasonable level of assistance regarding the
          training of Insulet employees with respect to the Technical
          Information.

     6.3 LABELING.

          (a) Insulet shall *** label each Remote Controller commercially
     delivered in the Territory with TheraSense's "FreeStyle" trademark and such
     other of the TheraSense Marks as the Parties may determine and such
     trademarks of Insulet as Insulet may

                                      -14-

<PAGE>

     determine. The appearance and placement of such trademarks shall be at
     Insulet's reasonable discretion, subject to TheraSense's rights under
     Section 5.4(a).

          (b) TheraSense may, at its discretion, label Test Strips delivered in
     the Territory with Insulet Marks and such trademarks of TheraSense as
     TheraSense shall determine. The appearance and placement of such trademarks
     shall be at TheraSense's reasonable discretion, subject to, with respect to
     the Insulet Marks, Insulet's rights under Section 5.4(b).

     6.4 REPORTING AND NOTICE.

          (a) At the end of each calendar quarter after commercial distribution
     of the Product has commenced, Insulet shall provide TheraSense with a
     quarterly report, which shall include the following information: unit sales
     of the Remote Controller to customers in the Territory and monthly
     placements of the Remote Controller in the Territory made free of charge.

          (b) The Parties shall meet at least quarterly to discuss the
     development status of the Product (such discussions to include a reasonably
     comprehensive report on such status) developments regarding the market,
     competitors, government authorities and other material developments
     important to the success of the Product or the Test Strips, or otherwise of
     material importance to the other Party.

          (c) Insulet shall promptly notify TheraSense of any adverse events or
     customer complaints related to TheraSense's products, including the Test
     Strips, of which it becomes aware. TheraSense shall promptly notify Insulet
     of any adverse events or customer complaints related to the Product of
     which it becomes aware.

          (d) If Insulet considers granting distribution rights to the Product
     to a third party (including by virtue of a sale of Insulet's assets or
     capital stock) other than to an Affiliate of Insulet, then Insulet shall so
     notify TheraSense, provided that

               (i) such notice would not violate any contractual obligation by
          which Insulet is bound;

               (ii) Insulet need provide such notice only one time; and

               (iii) such obligation shall not preclude Insulet from entering
          into a "no shop" or other exclusivity agreement, if such an agreement
          is specifically requested by a third party.

          (e) TheraSense will, as soon as reasonably practicable, notify Insulet
     of any planned:

               (i) Improvement to the FreeStyle Meter;

                                      -15-
<PAGE>

               (ii) material change to Test Strips that may adversely affect the
          performance of the Product with the Test Strips; and

               (iii) discontinuance of the FreeStyle Meter or the Test Strips.

     Insulet will, as soon as reasonably practicable, notify TheraSense of any
     planned:

               (i) material change that relates to the Remote Controller; or

               (ii) discontinuance of the Product.

          Nothing in this Section 6.4(e) shall be construed to constrain Insulet
     from improving or in any way altering the Product or to constrain
     TheraSense from improving on or in any way altering the FreeStyle Meter or
     the Test Strips, provided that, in each case, the Product would continue to
     perform with the Test Strips within the Specifications.

          (f) TheraSense shall notify Insulet (provided such notice would not
     violate any contractual obligation by which TheraSense is bound) of any
     newly developed glucose monitoring technology that TheraSense has
     determined that it intends to commercialize, and the Parties shall
     negotiate in good faith to determine if and under what terms such
     technology shall be incorporated into the Product.

     6.5 COMPLAINTS AND RECALLS. Insulet shall manage all complaints, failure
analysis and recalls related to the Product in the Territory in a commercially
reasonably manner. In the event of a recall or potential recall of the Product
in the Territory, Insulet shall notify and consult with TheraSense with regard
to the measures to be taken consistent with good business practice. Such
undertaking shall be at Insulet's expense; provided, however, that if the cause
of such complaint, failure or recall is a flaw that is also present in the
FreeStyle Meter or the Test Strips, then TheraSense shall reimburse Insulet for
all reasonable costs incurred. TheraSense shall render commercially reasonable
support and information to assist Insulet in managing any complaints, failures
or recalls related to the Test Strips or the functioning of the Test Strips with
the Remote Controller.

     6.6 PUBLICITY.

          (a) Neither Party shall originate any publicity, news release or other
     public announcement, written or oral, relating to this Agreement, the
     Development Program or the existence of an arrangement between the Parties,
     without the prior approval of the other Party, which shall not be
     unreasonably withheld, except as otherwise required by law.

          (b) After the Effective Date, when mutually agreeable to the Parties,
     the Parties shall agree on the language of a press release to be used by
     the Parties to publicize the relationship established under this Agreement.
     The Parties agree to jointly promote

                                      -16-

<PAGE>

     each other services by providing hypertext lines to each other's web sites
     on their own web site and by undertaking such other joint promotional
     activities as may be mutually agreed by the Parties.

                                   ARTICLE VII

                                   TERMINATION

     7.1 TERM. This Agreement shall remain in effect for seven years or until
terminated in accordance with the provisions of this Article VII (the "Initial
Term"). At the end of the Initial Term, this Agreement shall automatically renew
for subsequent three-year terms unless written notice of termination is given by
either Party to the other Party at least ninety (90) days prior to the
Agreement's then-current expiration date.

     7.2 TERMINATION FOR CAUSE. Each Party shall be entitled to terminate this
Agreement if:

          (a) the other Party shall be in material breach of any of its
     obligations hereunder (except as described in Section 7.2(e)) and shall
     fail to remedy any such breach within *** after receiving written notice
     thereof by the non-breaching Party (in which case the Agreement will
     automatically terminate at the end of such *** period),

          (b) the other Party is acquired by a Competitor of the first Party (in
     which case the Agreement shall automatically terminate upon the other
     Party's receipt of written notice of termination by the first Party, which
     notice must be received by the other Party no later than one hundred twenty
     (120) days of the date on which the first Party first learns of the closing
     of such acquisition),

          (c) (i) insolvency, receivership or bankruptcy proceedings or any
     other proceedings for the settlement of the other Party's debts under
     United States, California or Massachusetts law are instituted by or against
     the other Party, unless the other Party timely contests such proceedings,
     (ii) the other Party's makes an assignment for the benefit of creditors, or
     (iii) the other Party dissolves or ceases to do business,

          (d) the first Party receives a notice of discontinuance of the
     commercialized Product or the FreeStyle Meter or the Test Strips from the
     other Party pursuant to Section 6.4(e), or

          (e) Insulet violates Section 8.1 of this Agreement (in which case the
     Agreement shall automatically terminate upon Insulet's receipt of written
     notice of termination by the TheraSense, which notice must be received by
     Insulet within *** of the date on which TheraSense first learns of such
     breach).

     7.3 TERMINATION FOR LACK OF PROGRESS. Either Party shall be entitled to
terminate this Agreement in the event that the development of the Product is not
proceeding reasonably

                                      -17-

<PAGE>

within the schedule and resources specified by the Development Committee, with
*** notice to the other Party; provided, however, that the Parties agree to
undertake in good faith commercially reasonable efforts to remedy the situation
during such *** period; and provided further, however, that Insulet shall not
seek to employ such right of termination, in whole or in part, for purpose of
nullifying its obligations under Section 8.1.

     7.4 DISPOSITION OF LICENSED PRODUCTS.

          (a) Upon any termination of this Agreement pursuant to Sections 7.1 or
     7.2, Insulet shall within thirty (30) days of the effective date of such
     termination notify TheraSense of the amount of Products that Insulet, its
     Affiliates and distributors then have completed on hand, and Insulet, its
     Affiliates and distributors shall thereupon be permitted during the ***
     following such termination to sell that amount of Products. All licenses
     granted pursuant to Article V shall remain in effect until the last sale or
     the expiration of such *** period (whichever is earlier).

          (b) Upon the termination of this Agreement pursuant to Sections 7.1 or
     7.2, TheraSense shall notify Insulet of the amount of Test Strips that
     TheraSense has on hand that bear any Insulet Marks, and TheraSense and its
     Affiliates and Distributors shall thereupon be permitted during the ***
     following such termination to sell that amount of Test Strips with Insulet
     Marks. TheraSense may sell Test Strips without restriction upon removal of
     all Insulet Marks. The license granted pursuant to Section 5.4(b) shall
     remain in effect until the last sale of the Test Strips with Insulet Marks
     or all the expiration of such *** period (whichever is earlier).

          (c) Except as permitted in this Section 7.4, TheraSense shall cease
     all use of the Insulet Marks, and Insulet shall cease all use of the
     TheraSense Marks, upon termination of this Agreement.

     7.5 SURVIVAL OF OBLIGATIONS; RETURN OF CONFIDENTIAL INFORMATION.
Notwithstanding any termination of this Agreement, the obligations of the
Parties under Article III, Section 4.7, Sections 5.1, 5.2 and 5.4 (to the extent
specifically provided in Section 7.4), Section 5.3, Section 7.4, Section 8.2,
Section 8.8, Section 8.15 and Section 8.16 shall survive and continue to be
enforceable. Upon any termination of this Agreement, each Party upon request of
the other Party shall promptly return to the other Party all written
Confidential Information, and all copies thereof, of the other Party.

     7.6 ACCRUED OBLIGATIONS. Expiration or termination of this Agreement for
any reason shall not release any party hereto from any liability which, at the
time of such termination, has already accrued to the other Party or which is
attributable to a period prior to such termination nor preclude either Party
from pursuing any rights and remedies it may have hereunder or at law or in
equity with respect to any breach of this Agreement. It is understood and agreed
that monetary damages may not be a sufficient remedy for any breach of this
Agreement and that the non-breaching Party may be entitled to injunctive relief
as a remedy for any such breach. Such remedy shall not be deemed to be the
exclusive remedy for any such

                                      -18-

<PAGE>

breach of this Agreement, but shall be in addition to all other remedies
available at law or in equity.

                                  ARTICLE VIII

                                  MISCELLANEOUS

     8.1 COMPETING SYSTEMS. Insulet agrees that it shall not market, promote,
display or commercially ship a Remote Controller with any glucose monitoring
system other than pursuant to this Agreement or to another agreement to which
Insulet and TheraSense are parties for a period of ***.

     8.2 LIMITATION OF LIABILITY; INSURANCE.

          (a) Except for the obligations or representations set forth in Article
     III, Section 4.7 or Section 8.16, in no event shall a Party's liability to
     the other Party for damages of any nature arising out of or in connection
     with this Agreement, regardless of the form of action, whether for breach
     of warranty or contract, in tort (including negligence) or otherwise,
     exceed ***. In no event shall a Party be liable to the other Party or to
     any third party for any special, incidental, indirect or consequential
     damages of any kind, or for the loss of its or any third party's (including
     customers of such Party) profits, revenue, data or property arising out of
     or in connection with this Agreement for expenses incurred, even if such
     Party shall have been advised of or known of or such have known of the
     possibility of such potential loss, damage or expenses.

          (b) It is agreed that the limitation and exclusions of liability set
     forth in this Section 8.2 and elsewhere in this Agreement are intended by
     the Parties to be a reflection of the agreed allocation of the commercial
     risks that may arise out of or occur in connection with this Agreement.
     Further, the Parties hereto agree that the provisions above that exclude
     liability for any consequential damages and limit liability of TheraSense
     for other damages shall in no event be invalidated or deemed unenforceable
     under this Agreement should any limited warranty or remedy set forth in
     this Agreement fail of its essential purpose.

          (c) During the term of this Agreement, each Party shall maintain
     liability insurance policies, including without limitation, product
     liability insurance coverage, in commercially adequate amounts. Each
     Party's policy shall name the other Party as an additional insured and
     contain an endorsement to provide the other Party with at least thirty (30)
     days prior written notice of any cancellation or nonrenewal of such policy.
     Each Party shall furnish to the other Party copies of such Party's
     policies.

     8.3 ASSIGNMENT. Neither this Agreement nor any of the rights, licenses or
obligations hereunder may be assigned by either Party without the prior written
consent of the other Party, except (i) to an Affiliate of a Party or (ii) to a
party who acquires all or substantially all of the

                                      -19-

<PAGE>

business of the assigning Party by merger, sale of assets or otherwise, provided
that such acquiring party is not a Competitor of the non-assigning Party.

     8.4 GOVERNING LAW. This Agreement shall be governed by and interpreted in
accordance with the laws of the State of Delaware, without giving effect to the
principles of conflicts of law thereof and except as otherwise set forth in
Section 8.15(b).

     8.5 FORCE MAJEURE. In the event that either Party is prevented from
performing or is unable to perform any of its obligations under this Agreement
(other than the payment of money) due to any act of God; fire; casualty; flood;
war; act of terrorism; strike; lockout; failure of public utilities; injunction
or any act, exercise, assertion or requirement of governmental authority,
including any governmental law, order of regulation permanently or temporarily
prohibiting or reducing the level of research, development or production work
hereunder or the manufacture, use or sale of Products; epidemic; destruction of
production facilities; riots; insurrection; inability to procure or use
materials, labor, equipment, transportation or energy sufficient to meet
experimentation or manufacturing needs; or any other cause beyond the reasonable
control of the Party invoking this Section 8.5 if such Party shall have used its
best efforts to avoid such occurrence, such Party shall give notice to the other
Party in writing promptly, and thereupon the affected Party's performance shall
be excused and the time for performance shall be extended for the period of
delay or inability to perform due to such occurrence.

     8.6 WAIVER. The waiver by either Party of a breach or a default of any
provision of this Agreement by the other Party shall not be construed as a
waiver of any succeeding breach of the same or any other provision, nor shall
any delay or omission on the part of either Party to exercise or avail itself of
any right, power or privilege that it has or may have hereunder operate as a
waiver of any right, power or privilege by such Party.

     8.7 NOTICES. Any notice or other communication in connection with this
Agreement must be in writing and by mail, certified, return receipt requested,
by electronic facsimile transmission or courier service, and shall be effective
when delivered to the addressee at the address listed below or such other
address as the addressee shall have specified in a notice actually received by
the address or.

     If to TheraSense:

          TheraSense, Inc.
          1360 South Loop Road
          Alameda, CA 94502
          Attention: Vice President, General Counsel

     If to Insulet:

          Insulet Corporation
          100 Cummings Center
          Suite 231G

                                      -20-

<PAGE>

          Beverly, MA 01915
          Attention: Chief Executive Officer

     With a copy to:

          Testa, Hurwitz & Thibeault, LLP
          125 High Street
          Boston, MA 02110
          Attention: Lawrence S. Wittenberg, Esq.

     8.8 NON-SOLICITATION. During the term of the Agreement and for a period of
*** after the termination of this Agreement for any reason, neither Party will
directly or indirectly solicit the employment of any employee of the other Party
without such other Party's prior written consent; provided, however, that either
Party may, without the prior written consent of the other Party, engage in
general recruiting not specifically directed to any of the other Party's
employees, including, without limitation, placing "help-wanted" type
advertisements in newspapers and trade journals and on radio programs and
Internet-based recruiting services, participating in job fairs and similar
events open to the public, and the like.

     8.9 NO AGENCY. Nothing herein shall be deemed to constitute either Party as
the agent or representative of the other Party, or both Parties as joint
venturers or partners for any purpose. Neither Party shall be responsible for
the acts or omissions of the other party, and neither Party will have authority
to speak for, represent or obligate the other Party in any way without prior
written authority from the other Party.

     8.10 ENTIRE AGREEMENT. This Agreement and the Schedules hereto (which
Schedules are deemed to be a part of this Agreement for all purposes) contain
the full understanding of the Parties with respect to the subject matter hereof
and supersede all prior understandings and writings relating thereto. No waiver,
alteration or modification of any of the provisions hereof shall be binding
unless made in writing and signed by the Parties by their respective officers
thereunto duly authorized.

     8.11 HEADINGS. The headings contained in this Agreement are for convenience
of reference only and shall not be considered in construing this Agreement.

     8.12 SEVERABILITY. In the event that any provision of this Agreement is
held by a court of competent jurisdiction to be unenforceable because it is
invalid or in conflict with any law of any relevant jurisdiction, the validity
of the remaining provisions shall not be affected, and the rights and
obligations of the Parties shall be construed and enforced as if the Agreement
did not contain the particular provisions held to be unenforceable.

     8.13 SUCCESSORS AND ASSIGNS. This Agreement shall be binding upon and inure
to the benefit of the Parties hereto and their successors and permitted assigns.

                                      -21-

<PAGE>

     8.14 COUNTERPARTS. This Agreement may be executed in any number of
counterparts, each of which shall be deemed an original but all of which
together shall constitute one and the same instrument.

     8.15 DISPUTE RESOLUTION.

          (a) In the event that a dispute arises under this Agreement (a
     "Dispute"), the Dispute shall first be referred to the Vice President of
     Business Development of TheraSense and the Chief Executive Officer of
     Insulet for resolution.

          (b) Subject to Section 8.15(a), if the Parties are unable to resolve a
     Dispute, the Dispute shall be settled by binding arbitration conducted in
     San Francisco, California (if Insulet shall bring such Dispute to
     arbitration) or in Boston, Massachusetts (if TheraSense shall bring such
     Dispute to arbitration) or in such location upon which the Parties may
     otherwise agree, pursuant to the Commercial Arbitration Rules of the
     American Arbitration Association then in effect by one (1) arbitrator
     appointed in accordance with such rules. The decision and/or award rendered
     by the arbitrator shall be written (specifically stating the arbitrator's
     findings of facts as well as the reasons upon which the arbitrator's
     decision is based), final and nonappealable (except for an alleged act of
     corruption or fraud on the part of the arbitrator) and may be entered in
     any court of competent jurisdiction. The Parties agree that, any provision
     of applicable law notwithstanding, they will not request, and the
     arbitrator shall have no authority to award, punitive or exemplary damages
     against any Party. The arbitrator shall have the authority to grant
     injunctive relief and order specific performance. The arbitrator shall
     determine what discovery will be permitted, consistent with the goal of
     limiting the cost and time which the Parties must expend for discovery;
     provided the arbitrator shall permit such discovery as it deems necessary
     to permit an equitable resolution of the Dispute. Evidence need not be
     obtained in the presence of the arbitrator. At the arbitration hearing,
     each Party may make written and oral presentations to the arbitrator,
     present testimony and written evidence, and examine witnesses. The costs of
     any arbitration, including administrative fees and fees of the arbitrator,
     shall be shared equally by the Parties. Each Party shall bear the cost of
     its own attorneys' fees and expert fees. The Parties and the arbitrator
     shall use their best efforts to complete any such arbitration within one
     (1) year after the appointment of the arbitrator, unless a Party can
     demonstrate to the arbitrator that the complexity of the issues or other
     reasons warrant the extension of the time table. In such case, the
     arbitrator may extend such time table as reasonably required. The
     arbitrator shall, in rendering its decision, apply the substantive law of
     the State of Delaware, without regard to its conflict of laws provisions,
     except that the interpretation of and enforcement of this Section 8.15(b)
     shall be governed by the U.S. Federal Arbitration Act. Pending the
     establishment of the arbitral tribunal or pending the arbitral tribunal's
     determination of the merits of the controversy, either Party may seek from
     a court of competent jurisdiction any interim or provisional relief that
     may be necessary to protect the rights or property of that Party.

                                      -22-

<PAGE>

     8.16 INSULET LIABILITY; THERASENSE LIABILITY

          (a) Insulet agrees unconditionally, at its expense, to defend,
     indemnify, and hold harmless TheraSense and its Affiliates and any
     directors, officers, agents, and employees of the foregoing, for any and
     all losses, costs, liabilities, or expenses (including, without limitation,
     reasonable attorneys' and expert witnesses' fees) incurred or arising from
     any claims, proceedings, criminal investigations, or suits ("Claims") that
     are based on or arise out of the negligence, strict liability in tort or
     willful misconduct of Insulet, its Affiliates or agents relating to the
     design, manufacture, production, sale, import or use of the Product
     ("Insulet Liability"). Insulet's obligations subject to this Section
     8.16(a) shall be subject to the following:

               (i) Insulet is notified in writing promptly after TheraSense has
          received notice of a Claim for Insulet Liability and Insulet has
          received a copy of all communications received by TheraSense in
          connection with such Claim;

               (ii) Insulet is allowed to exercise sole control over the defense
          of the Claim and all related settlement negotiations (provided that
          any settlement includes a general release of all claims (including any
          Claims) in favor of TheraSense); and

               (iii) TheraSense provides to Insulet, at Insulet's expense, all
          reasonably necessary assistance, information and authority to perform
          the above.

          (b) Insulet will not be obligated to defend, indemnify, and hold
     harmless TheraSense and its Affiliates and any directors, officers, agents,
     and employees of the foregoing pursuant to Section 8.16(a) for any Claim
     for Insulet Liability to the extent aspects of such Claim are based on or
     arise out of the negligence, strict liability in tort or willful misconduct
     of TheraSense, its Affiliates or agents relating to (i) TheraSense's design
     of the FreeStyle Meter, (ii) the manufacture, production, sale, import or
     use of the FreeStyle Meter (provided that the FreeStyle Meter has been
     manufactured, produced, sold, imported and used in accordance with the
     Specifications) or (iii) the design, manufacture, production, sale, import
     or use of the Test Strips (collectively referred to as "TheraSense
     Liability").

          (c) TheraSense agrees unconditionally, at its expense, to defend,
     indemnify, and hold harmless Insulet and its Affiliates and any directors,
     officers, agents, and employees of the foregoing, for any Claims for
     TheraSense Liability. TheraSense's obligations subject to this Section
     8.16(c) shall be subject to the following:

               (i) TheraSense is notified in writing promptly after Insulet has
          received notice of a Claim for TheraSense Liability and TheraSense has
          received a copy of all communications received by Insulet in
          connection with such Claim;

               (ii) TheraSense is allowed to exercise sole control over the
          defense of the Claim and all related settlement negotiations (provided
          that any settlement includes a general release of all claims
          (including any Claims) in favor of Insulet); and

                                      -23-

<PAGE>

               (iii) Insulet provides to TheraSense, at TheraSense's expense,
          all reasonably necessary assistance, information and authority to
          perform the above.

          (d) TheraSense will not be obligated to defend, indemnify, and hold
     harmless Insulet and its Affiliates and any directors, officers, agents,
     and employees of the foregoing pursuant to Section 8.16(c) for any Claim
     for Insulet Liability.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                      -24-

<PAGE>

     IN WITNESS WHEREOF, the Parties hereto have caused this Development and
License Agreement to be executed as a sealed instrument in their names by their
properly and duly authorized officers or representatives as of the date first
above written.

                                   THERASENSE, INC.

                                   By: /s/ Ephraim Heller
                                       -----------------------------------------
                                   Name: Ephraim Heller
                                   Title: Vice President of Business Development

                                   INSULET CORPORATION

                                   By: /s/ Thomas E. Wood
                                       -----------------------------------------
                                   Name: Thomas E. Wood
                                   Title: Chief Executive Officer

                                      -25-

<PAGE>

                                   SCHEDULE A

                               TheraSense Patents

                                       ***

                                      -26-

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