Document:

Executive Employment Agreement - Steve Bryant

 EXHIBIT 10.30 
 EXECUTIVE EMPLOYMENT AGREEMENT 
 This Agreement dated 11 June 2009 

BETWEEN: 
 STEVEN R. BRYANT

 (“Executive”) 
 AND: 
 ANGIOTECH PHARMACEUTICALS (US), INC., 

a corporation incorporated under the laws of the State of Washington 

(“Angiotech US”) 

BACKGROUND 
 A. Angiotech
US wishes to continue to employ the Executive in the position of Senior Vice President, Sales & Marketing, Specialty Medical Device Technologies, on and subject to the terms and conditions of this Agreement. 

B. The Executive wishes to continue to be so employed. 
 AGREEMENTS 
 For good and valuable consideration, the
receipt and sufficiency of which each party acknowledges, the parties agree as follows: 
  

	1.	EMPLOYMENT 

  

	1.1	 Angiotech US will employ the Executive, and the Executive will serve Angiotech US, subject to and in accordance with the terms of this Agreement.

  

	1.2	The Executive: 

  

	 	(a)	 will be employed in the position of Senior Vice President, Specialty Medical Device Technologies at based out of Executive’s home office in Mt.
Pleasant, SC; 

  

	 	(b)	 will report to Angiotech’s Chief Executive Officer; and 

 

	 	(c)	 will perform those duties and responsibilities assigned to the Executive by Angiotech from time to time. 

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	1.3	 Angiotech may ask the Executive to serve as an officer of Angiotech Canada, and/or as a director and/or officer of Angiotech US or one or more of
Angiotech US and Angiotech Canada’s affiliates or subsidiaries. 

  

	1.4	 The Executive will be employed by Angiotech on a full-time basis, and agrees that: 

 

	 	(a)	 the Executive’s hours of work will vary, and will be those hours required to perform the Executive’s duties and responsibilities under
this Agreement; and 

  

	 	(b)	 the remuneration paid to the Executive under this Agreement constitutes remuneration, compensation, and payment in full for all hours worked and all
services provided by the Executive in connection with the Executive’s employment with Angiotech or otherwise, including any work performed or services provided as a director or officer of Angiotech US, Angiotech Canada, or any of their
affiliates or subsidiaries. 

  

	1.5	 Angiotech may, from time to time, establish or change written policies and procedures concerning its business and the conduct of its employees,
which will, upon publication to the Executive, be binding on the Executive as if incorporated into this Agreement, provided that if there is a conflict between the terms of such policies and procedures and the terms of this Agreement, the terms of
this Agreement will prevail and govern. 

  

	1.6	 This Agreement is effective as of June 1, 2009 (“Effective Date”), and will continue in effect until terminated by either party in
accordance with its terms. 

  

	1.7	 The first day of the Executive’s employment continues to be January 1, 2001 for all purposes under this Agreement, which will also
continue to be the anniversary date of the Executive’s employment for all purposes under this Agreement 

 2.
EXCLUSIVE SERVICE 
  

	2.1	 The Executive will, to the best of the Executive’s ability, diligently and faithfully devote all of the Executive’s business time,
attention, energies, and abilities exclusively to the Business of Angiotech and the performance of the Executive’s duties and responsibilities under this Agreement, and will at all times use best efforts to promote the interests of Angiotech.

  

	2.2	 During the Executive’s employment with Angiotech, the Executive will not, directly or indirectly: 

 

	 	(a)	 be employed by or render services of a business, professional, or commercial nature, including services as an owner, shareholder, partner, joint
venturer, officer, director, employee, advisor, contractor, consultant, agent, or otherwise, to any other person, firm, entity, or business, whether for remuneration or otherwise, without the prior written authorization of Angiotech’s Chief
Executive Officer; or 

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	 	(b)	 otherwise engage in any activity that is competitive with the Business of Angiotech, or that negatively affects the performance of the
Executive’s duties and responsibilities under this Agreement, whether alone, or as an owner, shareholder, partner, joint venturer, officer, director, employee, advisor, contractor, consultant, or agent of any other person, firm, entity, or
business. 

  

	2.3	 For greater certainty, paragraph 2.2(b) does not, subject to Part 11, restrict the Executive from: 

 

	 	(a)	 with Angiotech’s prior written authorization under paragraph 2.2(a), rendering services to, or serving as an officer or director of, a person,
firm, entity, or business that is not a Competitor of Angiotech; 

  

	 	(b)	 investing in a firm, entity, or business that is not a Competitor of Angiotech; 

 

	 	(c)	 owning a legal or beneficial interest not exceeding 1% in a Competitor of Angiotech; or 

 

	 	(d)	 engaging in charitable activities with a social or philanthropic purpose that do not have a material negative effect on the performance of the
Executive’s duties and responsibilities under this Agreement or on the interests of Angiotech. 

 3. FIDUCIARY DUTY

  

	3.1	 The Executive has a fiduciary relationship with Angiotech, whereby the Executive has an absolute duty of trust, care, fidelity, and honesty to
Angiotech, including a duty to avoid any conflict of interest, and to act with undivided loyalty to Angiotech and with the utmost good faith, exclusively and selflessly in the best interests of Angiotech. 

4. BASE SALARY 
  

	4.1	 Angiotech will pay the Executive an annual base salary of USD$275,000 per year or such other amount as the Board may determine, from time to time,
in accordance with this Agreement (“Base Salary”), payable on Angiotech’s normal payroll schedule. 

  

	4.2	 The Board may, from time to time, in its sole discretion, review the Base Salary and determine if any increase is appropriate having regard to the
Executive’s performance and contributions, as assessed by the Board in its sole discretion, and any other factor or factors the Board may consider appropriate. 

 5. BONUS PLAN 
  

	5.1	 Subject to paragraph 5.3, the Executive will be eligible to participate in Angiotech’s bonus plan for executive employees (“Bonus
Plan”), which currently provides for bonuses based on a target bonus opportunity of 40% of the Base Salary earned by the Executive during a fiscal year, provided that the Board may determine, in its sole discretion, that the amount of the
payment made to the Executive under the Bonus Plan in 

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respect of a fiscal year may be greater or lesser than the target bonus opportunity, or that no payment will be made to the Executive from the Bonus Plan in respect of a fiscal year, having
regard to individual and company performance and any other factor or factors the Board may consider appropriate. 
  

	5.2	 Any one payment to the Executive under the Bonus Plan will not obligate Angiotech to make any other payment to the Executive under the Bonus Plan or
otherwise. 

  

	5.3	 The Board may, from time to time, in its sole discretion and without prior notice to the Executive, change or terminate the Bonus Plan. If there is
a conflict between the Bonus Plan and the terms of this Agreement (other than paragraph 5.1), the terms of this Agreement (other than paragraph 5.1) will prevail and govern. 

 6. STATUTORY DEDUCTIONS 
  

	6.1	 The Base Salary, any payments under the Bonus Plan or under Part 10 or 14, and any other payment, award, or benefit made or provided to the
Executive under this Agreement or otherwise are subject to all required statutory deductions and withholdings, and any other amount required by law to be deducted or withheld from such payment. 

7. INSURANCE, RETIREMENT, AND OTHER EMPLOYEE BENEFITS 
  

	7.1	 Subject to paragraphs 7.3 and 7.4, during the Executive’s employment with Angiotech, the Executive will be eligible to participate in:

  

	 	(a)	 the group health, dental, life insurance, and short and long term disability plans made generally available by Angiotech US for its comparably
situated executive employees, and any other employee benefit plans that Angiotech US may make generally available from time to time for its comparably situated executive employees, and, in each such instance, subject to and in accordance with the
terms of the applicable plan; and 

  

	 	(b)	 the 401(k) plan made available by Angiotech US for its comparably situated executive employees, or in any other US tax-qualified retirement plan
that Angiotech US may make generally available from time to time for its comparably situated executive employees, and, in each such instance, subject to and in accordance with the terms of the applicable plan. 

 

	7.2	 If the Executive is a director or officer of Angiotech US, Angiotech Canada, or any of their affiliates or subsidiaries, Angiotech will maintain a
policy of directors’ and officers’ liability insurance for the Executive while the Executive is so serving. 

  

	7.3	 The Executive’s eligibility for any benefits under any employee benefit plan, including any health, dental, life insurance, or disability plan,
or under any retirement plan, including any 401(k) plan or other US tax-qualified retirement plan, or under any liability insurance policy, will be determined solely on the basis of the applicable plan or plans or

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insurance policy or policies, and Angiotech’s sole obligation in relation to such benefits will be: 
  

	 	(a)	 to pay premium costs, or a portion or percentage thereof, on behalf of or for the benefit of the Executive, to the extent that Angiotech US may
generally make such payments on behalf of or for the benefit of its comparably situated executive employees; and 

  

	 	(b)	 to make contributions to the Executive’s 401(k) plan or other US tax-qualified retirement plan to the extent that Angiotech US may generally
make such contributions for the benefit of its comparably situated executive employees. 

  

	7.4	 Angiotech may, in its sole discretion and without prior notice to the Executive, change or terminate any employee benefit or insurance coverage made
available to its executive employees, including the portion or percentage of premium costs (if any) paid by Angiotech under paragraph 7.3(a). 

  

	7.5	 Any disputes concerning the Executive’s rights under any employee benefit plan, retirement plan, or insurance policy must be directed against
the provider of the benefit and not against Angiotech. 

  

	7.6	 Except as required by applicable law, the Executive’s eligibility for any health, dental, life insurance, disability, or other insurance or
employee benefits, or to participate in any retirement plan, under this Part 7 will cease on the Last Day of Employment (subject to any applicable conversion privileges), and Angiotech will not be liable for any sickness, injury, illness,
disability, or death, or for any claims, damages, losses, costs, or expenses directly or indirectly suffered or incurred thereafter, or as a result thereof. 

 8. STOCK OPTIONS AND OTHER EQUITY-BASED INCENTIVE PLANS 
  

	8.1	 Subject to paragraph 8.2, the Executive: 

  

	 	(a)	 will continue to hold any options to purchase common shares of Angiotech Canada held by the Executive as of the Effective Date, subject to the terms
of any applicable stock option agreement, plan, or program; and 

  

	 	(b)	 may, from time to time, be eligible to receive additional stock option grants, or grants or awards under other equity-based incentive plans or
programs of Angiotech Canada, if and to the extent awarded to the Executive under the terms of any applicable stock option agreement, plan, or program, or other equity-based incentive plan or program, which may be approved by the Angiotech Canada
Board and the shareholders of Angiotech Canada. 

  

	8.2	 The Angiotech Canada Board may, in its sole discretion and without prior notice to the Executive, change or terminate any stock option plan or
program or any equity-based incentive plan or program referred to in paragraph 8.1, subject to the terms of the applicable plan or program that govern such change or termination, and any applicable

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laws or regulatory requirements; provided that such change or termination will not, without the Executive’s written consent, adversely affect any then outstanding stock options or other
grants or awards held by the Executive (unless such change or termination occurs solely as a result of a change in applicable laws or regulatory requirements). 
  

	8.3	 Subject to paragraph 14.8(f), if the Executive’s employment is terminated, any rights and obligations of the Executive in respect of any then
outstanding stock options or other grants or awards held by the Executive will continue to be governed by the provisions of the applicable agreement, plan, or program referred to in paragraph 8.1. 

 

	8.4	 If there is a conflict between the terms of this Agreement and the terms of any stock option agreement, plan, or program, or other equity-based
incentive plan or program, referred to in paragraph 8.1, this Agreement will prevail and govern, unless applicable laws or regulatory requirements do not permit this, in which case the terms of such stock option agreement, plan, or program, or other
equity-based incentive plan or program will prevail and govern to the extent required by such laws or regulatory requirements. 

 9. VACATION 
  

	9.1	 The Executive will receive an annual vacation of 25 working days for each fiscal year of employment under this Agreement, prorated for partial years
of employment, in accordance with Angiotech’s policies regarding vacations in effect from time to time. 

  

	9.2	 The Executive may take an annual vacation at such times as are mutually convenient to the Executive and Angiotech, but subject to Angiotech’s
operational requirements. 

  

	9.3	 Unless otherwise provided in Angiotech’s policies regarding vacations, 

 

	 	(a)	 if the Executive does not use all of the Executive’s vacation entitlement in a given fiscal year, a maximum of 5 vacation days not taken will
be available to be used in a later fiscal year; and 

  

	 	(b)	 if the Executive’s employment is terminated before the end of a given fiscal year, the Executive will be paid for:

  

	 	(i)	 any unused vacation days for previous fiscal years; and 

 

	 	(ii)	 any unused vacation days for the fiscal year in which the Executive’s employment is terminated, on a prorated basis.

  

	9.4	 Angiotech may, in its sole discretion and without prior notice to the Executive, change Angiotech’s policies, plans, or practices regarding
vacations. 

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 10. EXPENSES

  

	10.1	 Angiotech will, upon the submission by the Executive of appropriate receipts, reimburse the Executive for: 

 

	 	(a)	 business expenses incurred by the Executive that Angiotech, in its sole discretion, determines are reasonably necessary for the proper discharge of
the Executive’s duties and responsibilities, in accordance with Angiotech’s policies in effect from time to time; and 

  

	 	(b)	 the following perquisites, for so long as Angiotech may make such perquisites generally available for its comparably situated executive employees,
and up to a combined maximum amount of US$15,000 for each fiscal year: 

  

	 	(i)	automobile lease; 

  

	 	(ii)	financial or tax planning services; and 

  

	 	(iii)	health club membership. 

 11. RESTRICTIONS ON
SOLICITATION AND COMPETITION 
  

	11.1	In this Agreement: 

  

	 	(a)	 “Business of Angiotech” means the business of Angiotech through the Executive’s Last Day of Employment, including, without
limitation, the business of researching, developing, manufacturing, and selling medical devices and/or medical implants, including, for example, stents, stent grafts, vascular grafts, vascular wraps, catheters, needles, blades, sutures (including
barbed or self-retaining sutures), filters, vascular snares, biopsy devices, guidewires, ophthalmic implants, orthopedic devices and implants, hemostats and hemostatic pads, and tissue sealants, fillers, and glues, as well as drug-loaded and/or
polymer-coated versions of these products; 

  

	 	(b)	 “Competitor of Angiotech” means any person, persons, entity, firm, association, corporation, or other enterprise engaged in any
business or activity, anywhere in the world, that is or is being prepared to be in competition with the Business of Angiotech, including, without limitation, the development, manufacture, or sale of any product or service in competition with a
product or service developed, in development, manufactured, or sold by Angiotech through the Executive’s Last Day of Employment; 

  

	 	(c)	 “Control Person” means a person, entity, or group of persons or entities acting jointly or in concert, that holds a sufficient
number of the voting rights attached to all outstanding voting securities of a Competitor of Angiotech to affect materially the control of the Competitor of Angiotech, provided that, if a person, entity, or group of persons or entities, holds more
than 20% of the voting rights attached to 

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all outstanding voting securities of the Competitor of Angiotech, the person, entity, or group of persons or entities will be deemed, in the absence of evidence to the contrary, to hold a
sufficient number of the voting rights to affect materially the control of the Competitor of Angiotech; 
  

	 	(d)	 “Customer of Angiotech” means any customer or client or prospective customer or client of Angiotech to whom the Executive provided
services, or for whom the Executive transacted business, or whose identity became known to the Executive in connection with or as a consequence of the Executive’s relationship with or employment by Angiotech; 

 

	 	(e)	 “Solicitation” means any direct or indirect communication of any kind, regardless of who initiates the communication, that in any
way invites, advises, encourages, or asks any person to take or refrain from taking any action. 

  

	11.2	 Angiotech is engaged in the Business of Angiotech, the Business of Angiotech is worldwide in scope, and the current and potential Competitors of
Angiotech and Customers of Angiotech are located throughout the world. 

  

	11.3	 While the Executive is employed by Angiotech, and for a period of 12 months after the Last Day of Employment, the Executive will not, whether as an
owner, shareholder, partner, joint venturer, officer, director, employee, advisor, contractor, consultant, agent, or otherwise, either on his own or in conjunction with any person, persons, entity, firm, association, corporation, or other business
enterprise, or in any other manner whatsoever, directly or indirectly: 

  

	 	(a)	 carry on or engage in the Solicitation of any Customer of Angiotech, except, while the Executive is employed by Angiotech, for a purpose consistent
with the performance of the Executive’s duties and responsibilities under this Agreement; 

  

	 	(b)	 interfere with, impair, or damage any relationship between Angiotech and any Customer of Angiotech; 

 

	 	(c)	 carry on or engage in the Solicitation of any employee or consultant of Angiotech (including any person who was an employee or consultant of
Angiotech within a period of six months before the date of the Solicitation) to end his or her employment or consulting relationship with Angiotech, or to commence an employment or consulting relationship or any other relationship with any
Competitor of Angiotech; 

  

	 	(d)	 carry on or engage in any business or activity that is, will be, or is being prepared to be in competition with the Business of Angiotech, and that
is substantially related to any business, activity, or services: 

  

	 	(i)	 that the Executive engaged in or performed, directly or indirectly, for or on behalf of Angiotech through the Executive’s Last Day of
Employment; or 

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	 	(ii)	 for which the Executive had direct or indirect responsibility or oversight with Angiotech through the Executive’s Last Day of Employment;

  

	 	(e)	 advise, assist, lend money to, guarantee the debts or obligations of, or manage or supervise personnel of, any Competitor of Angiotech engaged in
any business or activity described in subparagraph (d)(i) or (ii); or 

  

	 	(f)	 subject to paragraphs 11.4 and 11.5, own more than a 1% legal or beneficial interest in any Competitor of Angiotech. 

 

	11.4	 If the Executive owns or acquires more than a 1% legal or beneficial interest in any entity, firm, association, corporation, or other enterprise
which is not a Competitor of Angiotech but which later becomes a Competitor of Angiotech while the Executive is employed by Angiotech, or, subject to paragraph 11.5, during the 12-month period after the Last Day of Employment:

  

	 	(a)	 the Executive will, within 90 days after the Executive knows, or should have known, that such entity, firm, association, corporation, or other
enterprise has become a Competitor of Angiotech (or, if requested by the Executive, such longer time period as Angiotech may agree, such agreement not to be unreasonably withheld), either 

 

	 	(i)	 dispose of that interest to the extent necessary to comply with paragraph 11.3(f), or 

 

	 	(ii)	 notify Angiotech that the Executive owns more than a 1% legal or beneficial interest in such entity, firm, association, corporation, or other
enterprise, and ask that the Angiotech Canada Board decide whether the Executive must comply with paragraph 11.3(f); 

  

	 	(b)	 if the Executive asks the Angiotech Canada Board under subparagraph (a)(ii) to decide whether the Executive must comply with paragraph 11.3(f), the
Angiotech Canada Board will decide, in its sole discretion, whether the Executive will be required to dispose of the Executive’s legal or beneficial interest in the entity, firm, association, corporation, or other enterprise that has become a
Competitor of Angiotech, to the extent necessary to comply with paragraph 11.3(f), or to any lesser extent specified by the Angiotech Canada Board, and Angiotech will notify the Executive of the Angiotech Canada Board’s decision; and

  

	 	(c)	 if the Angiotech Canada Board decides under subparagraph (b) that the Executive must dispose of any portion of the Executive’s legal or
beneficial interest in the entity, firm, association, corporation, or other enterprise that has become a Competitor of Angiotech, 

  

	 	(i)	 the Executive will, within 90 days of being notified of the Angiotech Canada Board’s decision (or, if requested by the Executive, such longer
time period as Angiotech may agree, such agreement not to be 

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unreasonably withheld), dispose of that interest to the extent required by the Angiotech Canada Board under subparagraph (b), and 

 

	 	(ii)	 if the Executive incurs a loss as a result of having to comply with the Angiotech Canada Board’s decision under subparagraph (b), Angiotech
will provide reasonable compensation to the Executive for that loss, which will not, in any event, exceed the difference, if any, between the acquisition cost of the interest and the proceeds of disposition of the interest (without regard for the
tax consequences of the disposition). 

  

	11.5	 Despite paragraphs 11.3 and 11.4, during the 12-month period after the Last Day of Employment, the Executive may own or acquire more than 1% of the
shares of any class of a Competitor of Angiotech that are publicly traded on a stock exchange or trade reporting system, provided that the Executive: 

  

	 	(a)	 does not, on his own behalf, or in association with or on behalf of any other person, entity, or group of persons or entities acting jointly or in
concert, become a Control Person; and 

  

	 	(b)	 otherwise complies with paragraph 11.3(a) to (e). 

 

	11.6	 If paragraph 11.3, or any portion thereof, is found to be unreasonable or unenforceable to any extent by an arbitrator under Part 21 or by a Court
of competent jurisdiction determining its validity or enforceability, whether as to the subject matter or scope of the restriction or restrictions, the geographic area of the restriction or restrictions, or the duration of the restriction or
restrictions, then the restriction or restrictions will be changed or reduced to that which is determined to be reasonable or enforceable by the arbitrator or the Court. 

 12. WORK PRODUCT 
  

	12.1	 In this Agreement: 

  

	 	(a)	 “Intellectual Property” means all proprietary rights and interests in, to, or associated with Work Product, including, without
limitation, all registered and unregistered copyrights, patents, industrial designs, trade-marks, trade names, trade secrets, goodwill, all applications and all rights to file applications for all of the foregoing, and all rights of action for
infringement, misappropriation, or other misuse, and any other rights in and to the Work Product; 

  

	 	(b)	 “Non-Angiotech Invention” means any concept, method, process, technology, invention, development, or other work which:

  

	 	(i)	 subject to paragraph 12.8, is disclosed in Appendix B; or 

 

	 	(ii)	 is determined by the Angiotech Canada Board to be a Non-Angiotech Invention under paragraph 12.7; 

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	 	(c)	 “Work Product” means all work product of every kind, including, without limitation, all inventions, discoveries, concepts, ideas,
know-how, plans, strategies, developments, technologies, computer programs, software source and object codes, writings, formulas, algorithms, compilations, information, data, devices, designs, prototypes, drawings, diagrams, schematics, practices,
processes, methods, products, procedures, manuals, techniques, and other works of authorship, and all modifications and improvements to any of the foregoing, whether or not patented, registered, or otherwise protected, that is invented, made,
created, authored, generated, compiled, conceived, developed, completed, reduced to practice, or worked on by the Executive, whether alone or with others, whether during or outside the Executive’s working hours, and whether before or during the
Executive’s employment with Angiotech: 

  

	 	(i)	 relating to the Business of Angiotech; 

  

	 	(ii)	 resulting from work performed by the Executive with the use of Angiotech’s equipment, facilities, Confidential Information, materials, or
personnel; 

  

	 	(iii)	 resulting from any work performed by the Executive for Angiotech; 

 

	 	(iv)	 resulting from, based on, or using any of Angiotech’s assets, property, products, or research; or 

 

	 	(v)	 relating to an opportunity that is identified by or presented to the Executive, or of which the Executive becomes aware, in whole or in part as a
consequence of the Executive’s employment with Angiotech, or the functions performed by the Executive on behalf of Angiotech; 

 but excluding any Non-Angiotech Inventions. 
  

	12.2	 Angiotech is and will be the sole owner of all Work Product and Intellectual Property. 

 

	12.3	 For greater certainty: 

  

	 	(a)	 the Executive irrevocably assigns and transfers to Angiotech all rights, title, and interest in and to all Work Product and Intellectual Property,
and all rights of action for infringement or other misuse, including all rights to file applications, and all pending applications, to patent, register, or record the Work Product and Intellectual Property; 

 

	 	(b)	 to the extent the Executive holds or acquires legal title to any Work Product or Intellectual Property, the Executive holds it as trustee and agent
for Angiotech; and 

  

	 	(c)	 on request by Angiotech, the Executive will, during and after the Executive’s employment with Angiotech, execute and deliver immediately to
Angiotech all 

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instruments that Angiotech considers necessary or helpful to effect, perfect, register, or record its interest in Work Product and Intellectual Property, or to patent, register, or record Work
Product and Intellectual Property in Angiotech’s name, or to obtain, maintain, or enforce its rights and interest in Work Product and Intellectual Property in connection with any interference, litigation, opposition, or other proceeding to
which Work Product or Intellectual Property is relevant, provided that Angiotech reimburses the Executive for all reasonable expenses incurred to fulfill these obligations. 

 

	12.4	 The Executive irrevocably nominates, appoints, and constitutes Angiotech as the Executive’s true and lawful attorney with power to do all
things and execute all documents on the Executive’s behalf as may be required to give effect to this Part 12, including, without limitation, the actions contemplated in paragraph 12.3. The attorney so appointed may exercise this power as
the attorney deems appropriate to give effect to the intent of this Part 12. 

  

	12.5	 The Executive will, during and after the Executive’s employment with Angiotech, assist Angiotech as much as is reasonably necessary to
establish, protect, and enforce Work Product and Intellectual Property, provided that Angiotech: 

  

	 	(a)	 reimburses the Executive for all reasonable expenses thereby incurred; and 

 

	 	(b)	 provides reasonable compensation to the Executive for efforts thereby expended after the end of the Executive’s employment with Angiotech.

  

	12.6	 The Executive irrevocably waives in favor of Angiotech any and all moral rights that the Executive may have with respect to any Work Product,
including, without limitation, the right to attribution of authorship, the right to restrain or claim damages for any distortion, mutilation, modification, or enhancement of any Work Product, and the right to retain, use, or reproduce any Work
Product in any context and in connection with any product, service, or business, and Angiotech may use or alter any Work Product, as Angiotech sees fit, in its sole discretion. 

 

	12.7	 A concept, method, process, technology, invention, development or other work developed by the Executive may be determined to be a Non-Angiotech
Invention under paragraph 12.1(b)(ii) if: 

  

	 	(a)	 subject to paragraph 12.11, the Executive immediately and fully discloses that concept, method, process, technology, invention, development, or
other work, in writing, to both Angiotech’s General Counsel and its Human Resources Department; and 

  

	 	(b)	 the Angiotech Canada Board determines, in its sole discretion, that the concept, method, process, technology, invention, development, or other work
is a Non-Angiotech Invention, provided that, for greater certainty, the Angiotech Canada Board may determine that a concept, method, process, technology, invention, 

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development, or other work is not a Non-Angiotech Invention if one or more of the following apply to that concept, method, process, technology, invention, development, or other work: 

 

	 	(i)	 it was developed by the Executive during the Executive’s business time for Angiotech, or using any equipment, facilities, materials, personnel,
trade secrets, or Confidential Information of Angiotech; 

  

	 	(ii)	 it relates to the Business of Angiotech or to Angiotech’s current or anticipated research or development; or 

 

	 	(iii)	 it is otherwise derived from any work performed by the Executive for Angiotech. 

 

	12.8	 If the disclosure of any Non-Angiotech Invention in Appendix B would violate any obligation of confidentiality that the Executive owes to a
third party, Appendix B must instead include (to the extent it does not violate that obligation of confidentiality) a brief description of such Non-Angiotech Invention, a list of all third parties to whom the Non-Angiotech Invention belongs,
and the reason full disclosure is prohibited. 

  

	12.9	 If, during the Executive’s employment with Angiotech, the Executive incorporates any Non-Angiotech Invention into any product, process,
service, equipment, or facilities of Angiotech, the Executive will grant Angiotech a non-exclusive, royalty-free, perpetual, and irrevocable worldwide licence (including the right to sublicense) to make, have made, use, offer to sell, sell, import,
copy, distribute, modify, and otherwise practise and exploit such Non-Angiotech Invention as part of Angiotech’s product, process, service, equipment, or facilities (to the extent the Executive is legally entitled to grant such licence or
rights to Angiotech). 

  

	12.10	 Subject to paragraph 12.11, while the Executive is employed by Angiotech, the Executive will, immediately, fully disclose to Angiotech, in writing,
all items, methods, technologies, inventions, and other works, of any nature, developed, conceived, or reduced to practice by the Executive, whether alone or with others, that constitute Work Product or that otherwise relate to the Business of
Angiotech. 

  

	12.11	 If the disclosure of any item, concept, method, process, technology, invention, development, or other work under paragraph 12.7 or 12.10 would
violate any obligation of confidentiality that the Executive may owe to a third party, the Executive will, instead, immediately disclose to Angiotech (to the extent it does not violate that obligation of confidentiality) a description of such item,
method, technology, invention, or other work, a list of all third parties to whom it belongs, and full and complete reasons why full disclosure is prohibited. 

 

	12.12	 At the end of the Executive’s employment, the Executive will immediately return to Angiotech all Work Product and all other property of
Angiotech, including, without limitation, all medical devices, medical implants, and other products, all computers, 

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telephones, personal digital assistants, and other equipment, and all Confidential Information, proprietary or licensed computer programs, customer lists, customer data, books, records, forms,
specifications, formulas, data, data processes, designs, papers, and writings relating to the Business of Angiotech, and any copies thereof, in the Executive’s possession or under the Executive’s control. For greater certainty, the
Executive will not retain any copies of any such property, and will immediately provide to Angiotech all passwords and other security devices required to enable access to such property, and any licences granted to the Executive for the use of any
such property will be immediately revoked on the Last Day of Employment. 
 13. CONFIDENTIALITY 

 

	13.1	In this Agreement: 

 “Confidential Information” means all information and materials of Angiotech, and its customers, clients, vendors, consultants, and other parties with which Angiotech does business that is
not generally known by or freely available to the public, including, without limitation, information pertaining to biological materials and their progeny and derivatives, drug formulations, pre-clinical and clinical trials (abandoned or undertaken),
work product, inventions, discoveries, concepts, ideas, know-how, plans, strategies, developments, technologies, computer programs, formulas, algorithms, compilations, data, devices, designs, prototypes, drawings, diagrams, schematics, practices,
processes, methods, products, procedures, manuals, techniques, customer and supplier lists and data, price lists, policies, records, forms, specifications, trade secrets, research, laboratory notes, analysis, reports, studies, budgets, projections,
bids, costs, financial reports and information, financing materials, training programs, sales and marketing programs, plans and strategies, regulatory filings, and correspondence, whether or not expressed in tangible form, and in any format:

  

	 	(a)	 relating to the Business of Angiotech; or 

  

	 	(b)	 otherwise relating to Angiotech’s past, present, or future businesses, properties, research, products, or services.

  

	13.2	 Unless the Executive can demonstrate that information or materials in issue (including Work Product) is generally known by or freely available to
the public through no fault of the Executive or any person with whom the Executive is, directly or indirectly, affiliated or related, then the information or material will be presumed and deemed to be Confidential Information.

  

	13.3	 Unless and until any Confidential Information ceases to be confidential under paragraph 13.2, the Executive will forever:

  

	 	(a)	 keep private and maintain in strict confidence such Confidential Information; and 

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	 	(b)	 not, directly or indirectly, use, disseminate, disclose, lecture on, publish, duplicate, or summarize the Confidential Information, in whole or in
part, except to the extent: 

  

	 	(i)	 required by law, but subject to paragraph 13.5; 

  

	 	(ii)	 required to enable the Executive to discharge the Executive’s duties and responsibilities under this Agreement; or

  

	 	(iii)	 that Angiotech first consents in writing, and the Executive complies with all terms and conditions imposed by Angiotech in the consent.

  

	13.4	 The Executive will forever observe the terms of all agreements regarding confidentiality between Angiotech and others, except to the extent:

  

	 	(a)	 required by law, but subject to paragraph 13.5; or 

 

	 	(b)	 that Angiotech first consents in writing, and the Executive complies with all terms and conditions imposed by Angiotech in the consent.

  

	13.5	 If the Executive reasonably believes that the Executive is required by law to disclose anything otherwise prohibited under paragraphs 13.3 and
13.4: 

  

	(a)	 the Executive will immediately notify Angiotech in writing of all material particulars of the situation; 

 

	(b)	 if Angiotech does not agree that disclosure is required by law, the Executive will not make any disclosure unless an arbitrator under Part 21
or a Court of competent jurisdiction orders otherwise; and 

  

	(c)	 in any event, the Executive will take all lawful steps to ensure that any disclosure required by law is subject to a protective order of
confidentiality. 

  

	13.6	 Nothing in this Agreement limits or supersedes any other right or remedy that Angiotech may have, under applicable law, with respect to the
protection of Confidential Information. 

 14. TERMINATION 

 

	14.1	In this Agreement: 

  

	 	(a)	 “Cause” means the occurrence of any one or more of the following: 

 

	 	(i)	 failure by the Executive to substantially perform the Executive’s duties or responsibilities under this Agreement, after Angiotech has given a
demand to the Executive identifying how the Executive has failed to perform such duties or responsibilities; 

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	 	(ii)	 misconduct or illegal conduct by the Executive causing or likely to cause financial, reputational, or other harm to Angiotech;

  

	 	(iii)	 the conviction of the Executive for, or a plea by the Executive of guilty or no contest to, any felony; or 

 

	 	(iv)	 a material breach by the Executive of this Agreement, or of any of Angiotech’s written policies or procedures; 

 

	 	(b)	 “Change of Control” means the occurrence of any one or more of the following: 

 

	 	(i)	 a change in the composition of the Angiotech Canada Board as a result of which fewer than one-half of the incumbent directors are individuals who
were directors 12 months before the change; but excluding any such change in the composition of the Angiotech Canada Board made with the approval of the Angiotech Canada Board as it was constituted immediately before the change;

  

	 	(ii)	 the acquisition or aggregation by any person, entity, or group of persons or entities acting jointly or in concert (“Acquiror”) of
beneficial ownership or control of Voting Securities (including, without limitation, the power to vote or direct the voting thereof), as a result of which the Acquiror and/or associates and/or affiliates of the Acquiror become entitled to cast or
direct the casting of 50% or more of the votes attached to all of the outstanding Voting Securities which may be cast to elect directors (regardless of whether a meeting has been called to elect directors); but excluding a change in the relative
beneficial ownership of the Acquiror in Voting Securities resulting solely from a reduction in the aggregate number of the outstanding Voting Securities, unless and until the Acquiror increases, in any manner, directly or indirectly, the
Acquiror’s beneficial ownership or control of Voting Securities (after which the Acquiror and/or associates and/or affiliates of the Acquiror are entitled to cast or direct the casting of 50% or more of the votes attached to all of the
outstanding Voting Securities which may be cast to elect directors); 

  

	 	(iii)	 the disposition of all or substantially all of the assets or business of Angiotech US or Angiotech Canada pursuant to a merger, consolidation, or
other transaction, unless the common shares of the entity or entities that succeed to the business of Angiotech, and any other shares entitled to vote for the election of directors of such entity or entities, are beneficially owned or controlled by
persons, entities, or groups of persons or entities acting jointly or in concert who held beneficial ownership or control of Voting Securities immediately before such merger, consolidation, or other transaction, in substantially the same proportion
as they owned such Voting Securities; 

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	 	(iv)	 the adoption of a resolution to wind-up, dissolve, or liquidate Angiotech US or Angiotech Canada; or 

 

	 	(v)	 a consolidation, merger, amalgamation, arrangement, or other reorganization or acquisition of Angiotech US or Angiotech Canada, as a result of which
the holders of Voting Securities immediately before the completion of such transaction hold less than 50% of the outstanding common shares and other shares entitled to vote for the election of directors of the successor corporation after completion
of the transaction; 

  

	 	(c)	 “Good Reason” means the occurrence of any one or more of the following without the Executive’s written consent:

  

	 	(i)	 a material reduction in the Executive’s title, office, authority, or duties or responsibilities of employment; 

 

	 	(ii)	 one or more reductions in the Executive’s Base Salary, or in the Executive’s target bonus opportunity under the Bonus Plan, in the
cumulative amount of 5% or more within a 12 month period, or a material reduction in the Executive’s benefits or perquisites, if such reductions: 

  

	 	(A)	 are not made in conjunction with similar reductions for comparably situated executive employees of Angiotech, or 

 

	 	(B)	 are made in conjunction with similar reductions for comparably situated executive employees of Angiotech at the time of, or within 24 months after,
a Change of Control; 

  

	 	(iii)	 a change in the Executive’s principal place of employment by a distance of 50 miles or more, unless the new principal place of employment is
within 50 miles of the Executive’s then current residence; 

  

	 	(iv)	 a material breach by Angiotech of a fundamental term of this Agreement; or 

 

	 	(v)	 an Unapproved Change of Control; 

 but does not include the Executive being placed on paid leave for up to 30 days pending the determination by Angiotech of whether there is or may be a basis to terminate the Executive’s employment
for Cause; 
  

	 	(d)	 “Last Day of Employment” means: 

  

	 	(i)	 immediately on receipt of the Notice of Termination if the Executive’s employment is terminated by Angiotech for Cause;

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	 	(ii)	 the effective date of the Notice of Termination if the Executive’s employment is terminated by the Executive without Good Reason; or

  

	 	(iii)	 immediately on receipt of the Notice of Termination if the Executive’s employment is terminated by Angiotech for any reason other than for
Cause, or is terminated by the Executive for Good Reason; 

 or such later date as may
otherwise be agreed between Angiotech and the Executive; 
  

	 	(e)	 “Notice of Termination” means a written notice of termination of the Executive’s employment with Angiotech;

  

	 	(f)	 “Unapproved Change of Control” means a Change of Control that: 

 

	 	(i)	 is recommended against to the Angiotech Canada Board by Angiotech’s Chief Executive Officer in office immediately before the Change of Control;
or 

  

	 	(ii)	 is not approved, supported, or recommended by the Angiotech Canada Board as it was constituted immediately before the Change of Control;

  

	 	(g)	 “Voting Securities” means common shares of Angiotech Canada and any other shares entitled to vote for the election of directors of
Angiotech Canada. 

  

	14.2	 Angiotech may terminate the Executive’s employment at any time by giving a Notice of Termination to the Executive.

  

	14.3	 The Executive may terminate the Executive’s employment for Good Reason if Angiotech fails to cure the circumstances which gave the Executive
Good Reason within 20 days of the Executive giving Angiotech written notice identifying those circumstances (provided that such notice must be given within 90 days after the Executive knows, or should have known, of those circumstances), by the
Executive giving a Notice of Termination to Angiotech after the expiration of that 20-day period. Except in accordance with this paragraph, the Executive may not otherwise terminate the Executive’s employment for Good Reason.

  

	14.4	 The Executive may terminate the Executive’s employment at any time without Good Reason by giving a Notice of Termination to Angiotech,
providing Angiotech with 60 days’ notice of the termination of the Executive’s employment, which Angiotech may waive in whole or in part. 

  

	14.5	 If the Executive’s employment is terminated by the Executive without Good Reason, Angiotech will: 

 

	 	(a)	 pay any unpaid Base Salary earned by the Executive up to the Last Day of Employment, and, if Angiotech has waived the notice period or any part of
it 

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under paragraph 14.4, the equivalent Base Salary the Executive would otherwise have earned during the notice period; 

 

	 	(b)	pay the balance of any outstanding payments under the Bonus Plan that are or were payable to the Executive on or before the last day of the notice period; and

  

	 	(c)	 make any payments due under paragraph 9.3(b) or 10.1(a); 

and Angiotech will have no further obligation to the Executive under this Agreement. In particular, the Executive will be deemed not to
have earned any payment under the Bonus Plan either in regard to the fiscal year in which the termination of employment occurs, or in regard to any previous fiscal year, to the extent such payment has not become payable to the Executive as of the
last day of the notice period. 
  

	14.6	 If the Executive’s employment is terminated by Angiotech for Cause, Angiotech will: 

 

	 	(a)	 pay any unpaid Base Salary earned by the Executive up to the Last Day of Employment; 

 

	 	(b)	 pay the balance of any outstanding payments under the Bonus Plan that are or were payable to the Executive on or before the Last Day of Employment;
and 

  

	 	(c)	 make any payments due under paragraph 9.3(b) or 10.1(a); 

and Angiotech will have no further obligation to the Executive under this Agreement. In particular, the Executive will be deemed not to
have earned any payment under the Bonus Plan either in regard to the fiscal year in which the termination of employment occurs, or in regard to any previous fiscal year, to the extent such payment has not become payable to the Executive as of the
Last Day of Employment. 
  

	14.7	 If the Executive’s employment is terminated by Angiotech for any reason other than for Cause or is terminated by the Executive for Good Reason,
and paragraph 14.8 does not apply, Angiotech will: 

  

	 	(a)	 pay any unpaid Base Salary earned by the Executive up to the Last Day of Employment; 

 

	 	(b)	 pay a lump sum amount as severance compensation, equivalent to the total of: 

 

	 	(i)	 12 months of Base Salary, and 

  

	 	(ii)	 an additional two months of Base Salary for each full year of employment completed by the Executive, 

up to a combined maximum of 24 months of Base Salary; 

 

	 	(c)	 pay a further lump sum amount as compensation for loss of any benefits made available to the Executive or the Executive’s immediate family,
including any 

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benefit coverage under any health, dental, life insurance, disability, or other insurance or employee benefits plan, any contributions to the Executive’s 401(k) plan or other retirement
plan, and any other perquisites of employment, including any automobile allowance, automobile lease, financial or tax planning services, memberships, or otherwise, in the total amount of: 

 

	 	(i)	 $24,000, plus 

  

	 	(ii)	 an additional $2,000 for each full year of employment completed by the Executive, 

up to a combined maximum of $48,000; 

 

	 	(d)	 pay the balance of any payments which may be due to the Executive under the Bonus Plan, including, if applicable, a prorated payment under the Bonus
Plan earned in respect of the fiscal year in which the Executive’s employment is terminated, as and when determined by the Board; and 

  

	 	(e)	 make any payments due under paragraph 9.3(b) or 10.1(a). 

 

	14.8	 If, at the time of, or within 24 months after, a Change of Control, the Executive’s employment is terminated by Angiotech for any reason other
than for Cause or is terminated by the Executive for Good Reason, Angiotech will: 

  

	 	(a)	 pay any unpaid Base Salary earned by the Executive up to the Last Day of Employment; 

 

	 	(b)	 pay a lump sum amount as severance compensation, equivalent to the total of: 

 

	 	(i)	 24 months of Base Salary, and 

  

	 	(ii)	 an additional two months of Base Salary for each full year of employment completed by the Executive, 

up to a combined maximum of 36 months of Base Salary; 

 

	 	(c)	 pay a further lump sum amount as compensation for loss of any benefits made available to the Executive or the Executive’s immediate family,
including any benefit coverage under any health, dental, life insurance, disability, or other insurance or employee benefits plan, any contributions to the Executive’s 401(k) plan or other retirement plan, and any other perquisites of
employment, including any automobile allowance, automobile lease, financial or tax planning services, memberships, or otherwise, in the total amount of: 

 

	 	(i)	 $48,000, plus 

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	 	(ii)	 an additional $2,000 for each full year of employment completed by the Executive, 

up to a combined maximum of $72,000; 
  

	 	(d)	 pay the balance of any payments which may be due to the Executive under the Bonus Plan, including, if applicable, a prorated payment under the Bonus
Plan earned in respect of the fiscal year in which the Executive’s employment is terminated, as and when determined by the Board; 

  

	 	(e)	 pay a further lump sum amount, equal to two times the greater of: 

 

	 	(i)	 the average of the payments made to the Executive under the Bonus Plan in each of the two immediately preceding fiscal years, and

  

	 	(ii)	 the amount of the Executive’s target bonus opportunity under the Bonus Plan for the fiscal year in which the Executive’s employment is
terminated; 

  

	 	(f)	 if the Executive holds any stock options, securities, grants, or awards under any stock option agreement, plan, or program, or other equity-based
incentive plan or program, of Angiotech Canada, which are not vested as of the Last Day of Employment in accordance with the provisions of the applicable agreement, plan, or program referred to in paragraph 8.1 (and if vesting does not
accelerate under those provisions), pay a further lump sum amount equivalent to the amount the Executive would have received if the Executive had been able to exercise those stock options, securities, grants, or awards under the applicable
agreement, plan, or program, and sell the shares or underlying securities resulting from their exercise at a price equal to the closing price of such shares or underlying securities on the NASDAQ as of the Last Day of Employment;

  

	 	(g)	 make any payments due to the Executive under paragraph 9.3(b) or 10.1(a); 

 

	 	(h)	 in the case of a Change of Control that is not an Unapproved Change of Control, if any payment, award, benefit, or distribution (or any acceleration
of any payment, award, benefit, or distribution) made by Angiotech under this Agreement or otherwise to or for the benefit of the Executive is subject to excise tax under Section 4999 of the Code (referred to in this
paragraph 14.8(h) as the “Excise Tax”), and the reduction of the amounts payable to the Executive under this Agreement to the maximum amount that could be paid to the Executive without triggering the Excise Tax (“Safe Harbor
Cap”) would provide the Executive with a greater after tax amount than if such amounts were not reduced, then the amounts payable to the Executive under this Agreement will be reduced to the Safe Harbor Cap (but not below zero), provided that:

  

	 	(i)	 the reduction of the amounts payable hereunder, if applicable, will be made by reducing the payments under paragraph 14.8(b); and

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	 	(ii)	 if the reduction of the amounts payable would not result in a more favourable after tax consequence to the Executive, no amounts payable under this
Agreement will be reduced; and 

  

	 	(i)	 in the case of a Change of Control that is an Unapproved Change of Control, if any payment, award, benefit, or distribution (or any acceleration of
any payment, award, benefit, or distribution) made by Angiotech under this Agreement or otherwise to or for the benefit of the Executive (but without regard to any additional payments required under this paragraph 14.8(i)), is subject to excise
tax under Section 4999 of the Code, or if any interest or penalties are incurred by the Executive with regard to such excise tax (such excise tax, together with any such interest and penalties, being collectively referred to in this
paragraph 14.8(i) as the “Excise Tax”), Angiotech will pay the Executive an additional payment (“Gross-Up Payment”) such that after payment by the Executive of all taxes (including any Excise Tax) imposed on the Gross-Up
Payment, the Gross-Up Payment will be the sum of: 

  

	 	(i)	 the Excise Tax, and 

  

	 	(ii)	 the product of any deductions disallowed because of the inclusion of the Gross-Up Payment in the Executive’s adjusted gross income and the
highest applicable marginal rate of federal income taxation for the calendar year in which the Gross-Up Payment is made. 

  

	14.9	 If Angiotech Canada’s shares cease to be listed on the NASDAQ, the reference to the NASDAQ in paragraph 14.8(f) will be deemed to be replaced
with a reference to the Toronto Stock Exchange or to such other stock exchange or quotation and trade reporting system, if any, on which the greatest trading volume in Angiotech Canada’s common shares occurs. 

 

	14.10	 Before any payments are made to the Executive under 

 

	 	(a)	 paragraph 14.7(b) or (c), or 

  

	 	(b)	 paragraph 14.8(b), (c), (e), (f) or (i) 

 the Executive will execute and deliver to Angiotech a release in the form attached as Appendix A or in a similar form prepared by Angiotech, and any applicable period to revoke such release will have
expired. If the Executive fails to execute and deliver the release, or if the Executive revokes the release within any applicable revocation period, Angiotech will have no obligation to make any payments under paragraph 14.7(b) or (c) or
paragraph 14.8(b), (c), (e), (f) or (i). 
  

	14.11	 Angiotech’s obligation to make any payments under 

 

	 	(a)	 paragraph 14.7(b) to (d), or 

  

	 	(b)	 paragraph 14.8(b) to (f) and (i) 

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is conditional on the Executive’s ongoing compliance with all applicable post-employment obligations of the Executive under this
Agreement, including, without limitation, the Executive’s obligations under Parts 3, 11, 12, and 13. 
  

	14.12	 The Executive will not be required to seek other employment to be eligible to receive any payments payable under this Agreement after termination of
the Executive’s employment, and no amount will be set-off against any such payments on account of any remuneration or benefit that the Executive may receive as a result of any other employment the Executive may obtain.

  

	14.13	 If the Executive dies, 

  

	 	(a)	 the Executive’s estate will be entitled to receive: 

 

	 	(i)	 any unpaid Base Salary earned up to the date of the Executive’s death; 

 

	 	(ii)	 the balance of any payments which may be due to the Executive under the Bonus Plan as of the date of the Executive’s death, including a
prorated payment under the Bonus Plan earned in respect of the fiscal year in which the Executive’s death occurs, if applicable, as and when determined by the Board; and 

 

	 	(iii)	 any amounts due to the Executive under paragraph 9.3(b) or 10.1(a) as of the date of the Executive’s death; 

 

	 	(b)	 any outstanding stock options or other grants or awards held by the Executive, as of the date of the Executive’s death, under any stock option
agreement, plan, or program, or other equity-based incentive plan or program, will continue to be governed by the provisions of the applicable agreement, plan, or program; and 

 

	 	(c)	 Angiotech will have no other or further obligation to the Executive or the Executive’s estate. 

 

	14.14	 If, through no fault of the Executive, the Executive ceases to be legally eligible to work in the United States: 

 

	 	(a)	 the Executive will cooperate with Angiotech and use best efforts to attempt to restore the Executive’s eligibility to work in the United
States; and 

  

	 	(b)	 if, after taking the steps under subparagraph (a), the Executive and Angiotech are unable to restore the Executive’s eligibility to work in the
United States, the Executive will be entitled to receive payments under paragraph 14.7 as if the Executive’s employment had been terminated by Angiotech without Cause, and the Last Day of Employment will be deemed to be the date on which the
Executive ceased to be eligible to work in the United States. 

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	14.15	 The provisions of this Part 14 are fair and reasonable and constitute Angiotech’s only obligation to provide notice of termination,
severance pay, compensation under employment standards legislation, and related compensation upon the termination of the Executive’s employment without Cause, including, without limitation, damages in lieu of reasonable notice of termination,
loss of opportunity to exercise or acquire stock options, securities, grants, or awards under any stock option agreement, plan, or program, or other equity-based incentive plan or program, damage or injury to reputation, damages for bad faith or
otherwise pertaining to the manner of dismissal, psychological damage or injury, loss of opportunity to receive payments under the Bonus Plan or any other incentive compensation, lost insurance benefits, negligence or other tort claims, or
otherwise. In particular, Angiotech will have no greater contractual obligation than specified in this Part 14 if, after the Last Day of Employment, the Executive becomes sick, ill, disabled, or otherwise unable to work, or dies.

 15. ENFORCEMENT 
  

	 	15.1	 The restrictions in Parts 11, 12, and 13 are necessary for the protection of Angiotech’s interests and the Business of Angiotech, are
reasonable and valid, and will not prevent the Executive from pursuing a livelihood, and the Executive irrevocably waives all defences to their enforcement. 

 

	 	15.2	 In addition to any and all other rights and remedies available to Angiotech, an injunction is the only effective and meaningful remedy for any
breach of the Executive’s obligations under Parts 3, 11, 12, and 13, and Angiotech would suffer irreparable harm and injury in the event of any such breach. Accordingly, Angiotech may, without having to prove actual or potential damages,
loss, injury, or harm, apply for and obtain injunctive relief from any Court of competent jurisdiction, including, without limitation, an interim, interlocutory, or permanent injunction, to enforce any of these provisions upon their breach or
threatened breach. 

 16. Section 409A of Internal Revenue Code 

 

	16.1	 Subject to paragraph 16.2, if, on the Executive’s Last Day of Employment, the Executive is a “specified employee” as defined in
Section 409A of the Code, no payment or benefit will be provided under this Agreement until the earlier of: 

  

	 	(a)	 six months after the Last Day of Employment; or 

  

	 	(b)	 the date of the Executive’s death. 

  

	16.2	 Paragraph 16.1 will apply: 

  

	 	(a)	 only to the extent required to avoid causing the Executive to incur any additional income tax or interest under Section 409A of the Code
or any regulation or US Treasury Department guidelines promulgated thereunder; and 

  

	 	(b)	 despite any other provision of this Agreement. 

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	16.3	 If any provision of this Agreement (or any award of compensation hereunder) would cause the Executive to incur any additional income tax or interest
under Section 409A of the Code or any regulation or US Treasury Department guidelines promulgated thereunder: 

  

	 	(a)	 Angiotech will propose any changes to this Agreement that Angiotech may determine to be necessary to avoid causing the Executive to incur such
additional income tax or interest, provided that any such changes will give effect, to the extent practicable, to the intent of the provisions of this Agreement without violating the provisions of Section 409A of the Code; and

  

	 	(b)	 the Executive’s agreement to any such changes proposed by Angiotech will not be unreasonably withheld. 

17. EXECUTIVE’s REPRESENTATIONS 
  

	17.1	 In this Agreement: 

 “Previous Employer” means any previous employer of the Executive, or any entity for which the Executive has worked or to which the Executive has provided services. 

 

	17.2	 The Executive represents and warrants that: 

  

	 	(a)	 the Executive is legally eligible to work in the United States; 

 

	 	(b)	 the Executive has no obligation to assign any rights, title, or interest in or to any Work Product or Intellectual Property to any third party that
conflicts or is inconsistent with the Executive’s obligations under this Agreement; 

  

	 	(c)	 the Executive has no other employment, work, consultancy, engagements, undertakings, or other relationship that could restrict or impair the
performance of the Executive’s duties and responsibilities under this Agreement; 

  

	 	(d)	 the Executive has complied and is in compliance with any enforceable covenants in any agreement with any Previous Employer;

  

	 	(e)	 the Executive has kept confidential and not disclosed or made available to Angiotech any confidential information of any Previous Employer;

  

	 	(f)	 upon ending the Executive’s employment with, or ceasing to work for or provide services to, any Previous Employer, the Executive did not take
or remove anything proprietary to that Previous Employer; 

  

	 	(g)	 the Executive is not aware of any outstanding or potential claims or demands which have been or may be brought against the Executive in relation to
the Executive’s employment or other work for, or services provided to, any Previous Employer; 

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	 	(h)	 all items, methods, technology, inventions, and other works of any nature developed or provided by the Executive to Angiotech:

  

	 	(i)	 are or will be original to the Executive, except to the extent otherwise disclosed to Angiotech, and 

 

	 	(ii)	 do not, and will not when used or exploited by Angiotech or its contractors or customers, infringe any rights of the Executive or any third party;

  

	 	(i)	 all Non-Angiotech Inventions as of the date of this Agreement are fully disclosed in Appendix B, except as provided in paragraph 12.8, and all
information disclosed in Appendix B is true and correct; and 

  

	 	(j)	 the execution, delivery, and performance of this Agreement does not and will not otherwise conflict with or result in the violation or breach of any
order, judgment, injunction, contract, agreement, commitment, or other arrangement to which the Executive is a party or by which the Executive is bound. 

 

	17.3	 The Executive: 

  

	 	(a)	 agrees that Angiotech has entered into this Agreement relying on the representations and warranties in paragraph 17.2; and

  

	 	(b)	 will indemnify and save harmless Angiotech from and against any and all claims, causes of action, damages, losses, costs, and expenses, including
reasonable legal fees, taxes, and disbursements, arising from the incorrectness of, or any breach of, any representation or warranty in paragraph 17.2. 

 

	17.4	 The Executive: 

  

	 	(a)	 will continue to comply with any enforceable covenants in any agreement with any Previous Employer; and 

 

	 	(b)	 will continue to maintain in confidence any confidential information of any Previous Employer, and will not disclose or make available to Angiotech
any such confidential information of a Previous Employer. 

 18. GOVERNING LAW AND FORUM 

 

	18.1	 This Agreement is deemed to be made in the State of Washington, and will be governed by and construed and interpreted in accordance with the laws of
the State of Washington. 

  

	18.2	 Subject to Part 21, if Angiotech commences a proceeding in the Courts of the State of Washington to interpret or enforce any term of this
Agreement or to resolve any dispute under it, the Executive will irrevocably attorn to the jurisdiction of the Courts of the State of Washington in connection therewith, and the Courts of the State of Washington will have exclusive jurisdiction in
connection therewith. 

  -
 27
 - 
  
 19. NOTICES

  

	19.1	 All notices and other communications required or permitted to be given under this Agreement will be in writing, and will be delivered or sent by
registered mail to the party entitled to receive them, as follows: 

  

	 	(a)	Steven R. Bryant 

1469 Oakhurst Drive 
 Mt. Pleasant, SC, 29466 
  

	 	(b)	ANGIOTECH PHARMACEUTICALS (US), INC. 

 P.O. Box 2840 
 101 W. North Bend Way, Suite 201 

North Bend, WA 98045 
 Attention: David D. McMasters, 

                  General
Counsel and Senior Vice President, Legal 
  

	19.2	 Either party may notify the other in writing of a change of address to which notices will thereafter be given. 

20. SEVERABILITY AND WAIVER 
  

	20.1	 Each provision of this Agreement is a separate obligation and is severable from all other such obligations, and if any of them is held by an
arbitrator under Part 21 or by a Court to be invalid or unenforceable, this Agreement will be construed by limiting, restricting, or reducing the application or scope of the applicable provision or provisions, to the extent necessary to comply with
applicable law then in effect. 

  

	20.2	 In this Agreement: 

  

	 	(a)	 a waiver of any provision of this Agreement will not be binding unless in writing and signed by both parties; 

 

	 	(b)	 a failure to exercise or a delay in exercising any right or remedy under this Agreement will not be deemed to be a waiver of that right or remedy;
and 

  

	 	(c)	 a waiver or excuse by either party of any default or breach by the other party of any provision of this Agreement will not waive that party’s
rights in respect of any continuing or subsequent default or breach, or affect the rights of that party in respect of any such continuing or subsequent default or breach. 

 21. DISPUTE RESOLUTION 
  

	21.1	 Before initiating any legal proceedings, the parties will attempt to resolve all disputes concerning the interpretation, application or enforcement
of any term of this Agreement, 

  -
 28
 - 
  
 
any alleged breach of or non-compliance with this Agreement, or otherwise arising out of or in connection with this Agreement or any aspect of the Executive’s employment with Angiotech or
the termination of that employment (collectively, an “Employment Matter”), by mediated negotiation, and will use their best efforts to agree on a mediator and to resolve any Employment Matter by mediation. 

 

	21.2	 If an Employment Matter cannot be resolved by mediation within 15 days after one of the parties notifies the other of an intention to mediate such
matter, or if the parties are unable to agree on a mediator within 10 days of such notice, either party may give notice to the other party of its intention to refer such matter to binding arbitration. 

 

	21.3	 An Employment Matter that is referred to binding arbitration under paragraph 21.2 will be finally resolved by arbitration in Seattle, Washington,
administered by the American Arbitration Association (“AAA”) under its Commercial Arbitration Rules then in effect, subject to the following: 

 

	 	(a)	 the arbitration will be conducted by a single arbitrator; 

 

	 	(b)	 the arbitrator’s decision will not be a compromise, but will be the adoption of the submission made by either party;

  

	 	(c)	 the arbitrator will treat as confidential all evidence and other information presented; 

 

	 	(d)	 the arbitrator will have no authority or jurisdiction to award punitive or aggravated damages, or damages for any intangible loss or injury,
including damage or injury to reputation, damages for bad faith or otherwise pertaining to the manner of dismissal, or psychological damage or injury (and the Executive and Angiotech will not request any such award); 

 

	 	(e)	 the Optional Rules for Emergency Measures of Protection will apply to the arbitration; 

 

	 	(f)	 the arbitrator will have no authority or jurisdiction to change the terms of this Agreement except as provided in paragraphs 11.6 and 20.1 (and the
Executive and Angiotech will not request any such change); and 

  

	 	(g)	 a decision must be rendered within 30 days of the parties’ closing statements or submission of post-hearing briefs.

  

	21.4	The Executive or Angiotech may bring an action or special proceeding in a state or federal court of competent jurisdiction sitting in Seattle, Washington, to enforce
any arbitration award under paragraph 21.3. 

  -
 29
 - 
  
 22.
INDEPENDENT LEGAL ADVICE 
  

	22.1	 Angiotech’s attorneys prepared this Agreement. The Executive was asked to obtain independent legal advice before signing this Agreement, and
represents by signing it that such advice has been obtained. 

 23. ENUREMENT AND ASSIGNMENT 

 

	23.1	 This Agreement will enure to the benefit of and be binding on the parties and their respective heirs, executors, administrators, successors, and
permitted assigns. 

  

	23.2	 The Executive will not assign this Agreement without Angiotech’s prior written consent. 

24. INTERPRETATION 
  

	24.1	 In this Agreement: 

  

	 	(a)	 “Angiotech” means Angiotech US, and includes, as the context may require, Angiotech Canada and the other affiliates, subsidiaries,
associated companies, successors, and assigns of Angiotech US and Angiotech Canada; 

  

	 	(b)	 “Angiotech Canada” means Angiotech Pharmaceuticals, Inc., a corporation incorporated under the laws of British Columbia;

  

	 	(c)	 “Angiotech Canada Board” means the Board of Directors of Angiotech Canada; 

 

	 	(d)	 “Board” means the Board of Directors of Angiotech US; 

 

	 	(e)	 “Code” means United States Internal Revenue Code of 1986, as amended; 

 

	 	(f)	 “day” means calendar day, unless otherwise specified; 

 

	 	(g)	 “IRS” means Internal Revenue Service. 

 

	24.2	 All monetary amounts expressed in this Agreement are in United States currency, unless otherwise specified. 

 

	24.3	 Any reference in this Agreement to an enactment will be deemed to be a reference to such enactment as it may be amended or replaced from time to
time, and any reference to a particular provision of an enactment will include a reference to an equivalent provision, if the enactment is amended or replaced. 

 

	24.4	 Any rule of interpretation that any ambiguity is to be resolved against the drafting party is not applicable to this Agreement.

  -
 30
 - 
  
 25. ENTIRE
AGREEMENT 
  

	25.1	 This document contains the entire agreement between the parties with respect to the Executive’s employment, and cancels and supersedes all
prior agreements and discussions between them relating to the Executive’s employment. 

  

	25.2	 Except as provided in this Agreement, no amendment or variation of the terms of this Agreement will be effective or binding unless in writing and
signed by both parties. 

  -
 31
 - 
  
 TO EVIDENCE THEIR
AGREEMENT the parties have executed this Agreement on the dates appearing below. 
  

					
	 SIGNED, SEALED AND DELIVERED by

STEVEN R. BRYANT in the presence of:
	  	)
 )
	  	
		  	)	  	
	 /s/ Lewis S. Horton
	  	)	  	
	 (Signature of Witness)
	  	)	  	
		  	)	  	/s/ Steven R. Bryant
	 Lewis S. Horton
	  	)	  	STEVEN R. BRYANT
	 (Print Name of Witness)
	  	)	  	
		  	)	  	
	 171 Church St., Ste 220
	  	)	  	
	 Charleston, South Carolina 29401
	  	)	  	
	 (Address of Witness)
	  	)	  	
		  	)	  	
	 Attorney
	  	)	  	
	 (Occupation of Witness)
	  	)	  	
		  	)	  	
	 June 15, 2009
	  	)	  	
	 (Date)
	  		  	

  

			
	ANGIOTECH PHARMACEUTICALS (US), INC.
		
	By:	 	/s/ Tammy Neske
	Authorized Signatory
		
	Date:	 	11 June 2009

 APPENDIX A 
 Form of Release 
 FULL AND FINAL RELEASE 

AND PROMISE NOT TO INITIATE LEGAL ACTION 
 Please confirm by returning to ¿ the enclosed copy of this agreement, signed in the place shown, indicating that you have voluntarily
decided to accept and agree to its terms. 
 I, ¿, in
consideration of the gross sum of $¿ (less required statutory deductions and withholdings), the receipt and sufficiency of which is hereby acknowledged, voluntarily agree: 

1. Not to initiate any type of legal or regulatory action, and to release and forever discharge Angiotech Pharmaceuticals (US), Inc.,
Angiotech Pharmaceuticals, Inc., and their affiliates, subsidiaries, successors, and assigns (collectively, “Angiotech”), and their present and former officers, directors, employees, shareholders, partners, agents, and otherwise, as the
case may be (collectively, the “Releasees”), of and from any and all causes of action, suits, contracts, complaints, claims, damages, costs, and expenses of any nature or kind whatsoever, known or unknown (collectively,
“Claims”), which as against Angiotech or any of the other Releasees, and any of them, I have ever had, now have, or at any time hereafter I and my personal representatives can, shall or may have, arising out of any cause, matter or thing,
including, without limiting the generality of the foregoing: 
  

	 	(a)	 Claims arising directly or indirectly out of my hiring or the termination of my employment with Angiotech, or in any other way relating directly or
indirectly to my employment with Angiotech; 

  

	 	(b)	 Claims relating directly or indirectly to the loss of disability insurance, life insurance, share options, bonuses, incentive compensation, shares,
equity-based compensation or incentives, pension, contributions to my 401(k) plan or other retirement plan, and any other form of compensation, benefit, or perquisite of my employment with Angiotech; 

 

	 	(c)	 Claims for disability or sickness, or for insurance benefits relating directly or indirectly to such Claims; and 

 

	 	(d)	 Claims arising under any federal, state, or local statute or decision, including without limitation, claims for wrongful or abusive discharge, for
breach of contract, for misrepresentation, for breach of securities laws, or for discrimination 

 - 2 - 

 
 
based on race, color, ethnicity, sex, age, national origin, religion, disability, sexual orientation, or any other unlawful criterion or circumstance, including rights or claims under the U.S.
Age Discrimination in Employment Act of 1967 and the Older Workers Benefit Protection Act (collectively, “ADEA”) (except that I do not waive ADEA rights or claims that may arise after the date I executed this document). 

2. That neither the settlement nor anything contained herein is an admission of any liability by Angiotech, any of the other Releasees,
or any of them, by whom liability is expressly denied. 
 3. That the payment and benefits described herein are in lieu of any
and all other amounts to which I might or am now, or to which I and my personal representatives may become entitled, from Angiotech and the Releasees, or any of them, and, without limiting the generality of the foregoing, I hereby expressly waive
any right or claim that I and my personal representatives may now or ever have or assert to payment for salary, bonuses, medical, dental, or hospitalization benefits, life insurance benefits, attorneys’ fees, or any form of compensation
whatsoever; provided that Angiotech will comply with any applicable obligations with respect to continuation coverage requirements under Section 4980B of the U.S. Internal Revenue Code of 1986, as amended (commonly referred to as
“COBRA”). 
  

	4.	 That my signature below will also constitute confirmation that: 

 

	 	(a)	 I have been given at least 21 days within which to consider this document and its meaning and consequences; 

 

	 	(b)	 I have been advised before signing this release to consult, and have consulted (or have voluntarily decided not to consult), with an attorney of my
choice; and 

  

	 	(c)	 I have been advised that I may revoke this release at any time during the seven day period immediately following the date I sign this release.

 5. That the foregoing consideration is accepted voluntarily, for the purpose of making a full and final
settlement of all Claims. 
 6. That the terms of this document are intended to be contractual and not a mere recital.

 - 3 - 

 
 7. That this document will be governed by and construed and interpreted in
accordance with the laws of the State of Washington. 
  

					
	 SIGNED, SEALED, AND DELIVERED by
 ¿ on ____________________, 20 _________in the presence of:
	  	)
 )

)
	  	
		  	)	  	
	 	  	)	  	
	 Signature
	  	)	  	
		  	)	  	 
	 	  	)	  	¿
	 Print Name
	  	)	  	
		  	)	  	
	 	  	)	  	
	 Address
	  	)	  	
		  	)	  	
	 	  	)	  	
	 Occupation
	  	)	  	

 * * PLEASE READ CAREFULLY BEFORE SIGNING * * 

 APPENDIX B 
 Non-Angiotech Inventions 

¿Good Earth Land Sales Company: Exhibit 10.1 - Filed by newsfilecorp.com

Exhibit 10.1

REPURCHASE AGREEMENT 

This Repurchase Agreement (this “Agreement”) is dated as
of March 10, 2011, by and among GOOD EARTH LAND SALES COMPANY, a Florida
corporation (collectively with its predecessors, the “Company”) and PETIE
MAGUIRE, (the “Seller”). Each of the Company and the Seller is referred
to herein as a “Party” and collectively, as the “Parties.” 

W I T N E S S E T H: 

WHEREAS, subject to the terms and conditions set forth in a
securities purchase agreement (the “Securities Purchase Agreement”),
dated as of March 3, 2011, by and between the Company and the investor signatory
thereto (the “Investor”), the Company intends to issue and sell to the
Investor, and the Investor intends to purchase from the Company certain
securities of the Company, as more fully described in the Securities Purchase
Agreement,

WHEREAS, to induce the Investor to purchase the securities
under the Securities Purchase Agreement, the Seller, in its capacity as
controlling stockholder of the Company, has agreed sell and transfer all shares
of common stock par value $0.01 per share (“Common Stock”) held by it to
the Company, pursuant to this Agreement; and to make certain representations and
warranties and provide certain indemnification with respect to the Company, as
more fully set forth therein; and 

WHEREAS, the Seller owns and desires to sell to the Company, an
aggregate of 1,118,000 shares of the Common Stock (the “Shares”); and the
Company desires to re-purchase the Shares from the Seller, on and subject to the
terms of this Agreement. 

NOW, THEREFORE, in consideration of the foregoing and the
mutual promises and covenants herein contained, the Parties hereby agree as
follows:

ARTICLE I
SALE AND PURCHASE OF THE SHARES

1.1.          
Sale of the Shares. Subject to the terms and conditions of this
Agreement, and in reliance upon the representations, warranties, covenants and
agreements contained in this Agreement, the Seller shall sell the Shares to the
Company, and the Company shall re-purchase the Shares from the Seller, for a
purchase price equal to an aggregate sum of Three Hundred Eighty Five Thousand
Dollars ($385,000) (the “Purchase Price”). 

1.2.          
Closing. The purchase and sale of the Shares shall take place at a
closing (the “Closing”) to occur simultaneous with the Closing of the
Securities Purchase Agreement. At the Closing: 

(a)          
The Seller shall deliver to the Company this Agreement and certificates
representing the Shares, duly endorsed in form for transfer to the Company; 

(b)          
The Company shall deliver the Purchase Price to the Seller, less the Company’s
total liabilities of approximately $0.00, which liabilities shall be paid off at
or prior to the Closing (as evidenced by executed pay-off letters delivered to
the Investor pursuant to the Securities Purchase Agreement at the Closing) and
will in no event become the liabilities of the Sell or remain the liabilities of
the Company following the Closing. 

At and at any time after the Closing, the Parties shall duly
execute, acknowledge and deliver all such further assignments, conveyances,
instruments and documents, and shall take such other action consistent with the
terms of this Agreement to carry out the transactions contemplated by this
Agreement. 

ARTICLE II 
REPRESENTATIONS, WARRANTIES AND
COVENANTS 

The Seller hereby makes the following representations and
warranties to and covenants with the Company, which shall be true and correct as
of the date: 

2.1.          
Authority. This Agreement has been duly executed by the Seller, and when
delivered by the Seller in accordance with the terms hereof, will constitute the
valid and legally binding obligation of the Seller, enforceable against it in
accordance with its terms, except as such enforceability may be limited by
applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or
similar laws relating to, or affecting generally the enforcement of, creditors’
rights and remedies or by other equitable principles of general application.

2.2.          
No Conflicts or Consents. Neither the execution and delivery of this
Agreement, nor the consummation of the transactions contemplated hereby or
compliance with the terms and conditions hereof by the Seller will violate or
result in a breach of any term or provision of any agreement to which any Seller
is bound or is a party, or be in conflict with or constitute a default under, or
cause the acceleration of the maturity of any obligation of the Seller under any
existing agreement or violate any order, writ, injunction, decree, statute, rule
or regulation applicable to the Seller or any properties or assets of the
Seller. The Seller is not required to obtain any consent, waiver, authorization
or order of, give any notice to, or make any filing or registration with, any
court or other federal, state, local or other governmental authority or other
person or entity in connection with the execution, delivery and performance by
the Seller of this Agreement, other than the disclosure filings required by the
Commission. 

2.3          
Enforceability. This Agreement has been duly and validly executed by the
Seller, and constitutes the valid and binding obligation of the Seller,
enforceable against the Seller in accordance with its terms, except as
enforceability may be limited by bankruptcy, insolvency or other laws affecting
creditors' rights generally or by limitations, on the availability of equitable
remedies.

2.4          
No Encumbrances. The Seller acquired the Shares in accordance with
applicable state and federal securities laws and owns the Shares free and clear
of all liens, charges, security interests, encumbrances, claims of others,
options, warrants, purchase rights, contracts, commitments, equities or other
claims or demands of any kind (collectively, “Liens”). The Seller is not
a party to any option, warrant, purchase right, or other contract or commitment
that could require the Seller to sell, transfer, or otherwise dispose of any
capital stock of the Company (other than pursuant to this Agreement). The Seller
is not a party to any voting trust, proxy, or other agreement or understanding
with respect to the voting of any capital stock of the Company.

- 2 - 

2.5          
Solvency. As of the date hereof, there has been no material adverse
changes or developments in the condition (financial or otherwise) or prospects
of the Seller that have resulted, or could reasonably be expected to result, in
a material adverse effect on the solvency of the Seller. Neither the Seller nor
any of its affiliates has taken any steps to seek protection pursuant to any
bankruptcy law nor does such Seller have any knowledge or reason to believe that
its creditors intend to initiate involuntary bankruptcy proceedings or any
actual knowledge of any fact that would reasonably lead a creditor to do so. The
Seller is not as of the date hereof, and after giving effect to the transactions
contemplated hereby to occur at the Closing, will not be Insolvent (as defined
below). For purposes of this Section 2.5, “Insolvent” means, with respect
to the Seller, (i) the present fair saleable value of the Seller’s assets is
less than the amount required to pay its total indebtedness, (ii) the Seller is
unable to pay its debts and liabilities, subordinated, contingent or otherwise,
as such debts and liabilities become absolute and matured, (iii) the Seller
intends to incur or believes that it will incur debt that would be beyond its
ability to pay as such debt matures or (iv) if applicable, the Seller has
unreasonably small capital with which to conduct the business in which it is
engaged as such business is now conducted and is proposed to be conducted..

2.6.          
Concurrent Transaction. The Seller understands and acknowledges that in
conjunction with the repurchase contemplated by this Agreement, that the Company
is issuing and selling 19,800,000 shares of Common Stock at an aggregate price
equal to the Purchase Price hereunder, and that the repurchase hereunder is a
condition to such issuance and sale. 

2.7.          
No Liabilities. As of the date hereof, the Seller confirms that the
Company has total liabilities of $0.00. Notwithstanding the foregoing, the
seller understands and acknowledges that any liabilities of the Company in
existence prior to the Closing will become the liabilities of the Seller
following the Closing. 

ARTICLE III 
TERMINATION 

3.1.          
Termination. This Agreement may be terminated prior to Closing:

(a)          
by written agreement of the Seller and the Company; and 

(b)          
by the Company or the Seller upon written notice to the other, if the Closing
shall not have taken place by 6:30 p.m. Eastern time on thirtieth
(30th) calendar day following the date of this Agreement;
provided, that the right to terminate this Agreement under this Section
3.1(b) shall not be available to any Person whose failure to comply with its
obligations under this Agreement has been the cause of or resulted in the
failure of the Closing to occur on or before such time. 

Upon a termination in accordance with this Section 3.1, the
Company and the Seller shall not have any further obligation or liability
(including as arising from such termination) to the other. 

ARTICLE IV 
INDEMNIFICATION AND RELEASE

4.1          
Indemnification. (a) The Seller agrees to defend, protect, indemnify and
hold the Company each of its directors, officers, shareholders, partners,
employees and agents (each, a “Seller Indemnitee”) harmless from any and
all losses, liabilities, obligations, claims, contingencies, damages, costs and
expenses, including all judgments, amounts paid in settlements, court costs and
reasonable attorneys’ fees and costs of investigation (collectively,
“Losses”) that any Seller Indemnitee may suffer or incur as a result of
or relating to (a) any misrepresentation, breach or inaccuracy of any
representation, warranty, covenant or agreement made by the Seller in this
Agreement or (b) any cause of action, suit or claim brought or made against such
Seller Indemnitee by a third party and arising out of or resulting from the
Seller’s execution, delivery, performance or enforcement of this Agreement or
any other certificate, instrument or document contemplated hereby or thereby. In
addition to the indemnity contained herein, the Seller will reimburse such
Seller Indemnitee for its reasonable legal and other expenses (including the
cost of any investigation, preparation and travel in connection therewith)
incurred in connection therewith, as such expenses are incurred. Similarly, the
Company agrees to defend, protect, indemnify and hold the Seller and each of its
directors, officers, shareholders, partners, employees and agents (each, an
“Company Indemnitee”) harmless from any and all Losses that any Company
Indemnitee may suffer or incur as a result of or relating to (a) any
misrepresentation, breach or inaccuracy of any representation, warranty,
covenant or agreement made by the Company in this Agreement or (b) any cause of
action, suit or claim brought or made against such Company Indemnitee by a third
party and arising out of or resulting from the Company’s execution, delivery,
performance or enforcement of this Agreement or any other certificate,
instrument or document contemplated hereby or thereby. In addition to the
indemnity contained herein, the Company will reimburse such Company Indemnitee
for its reasonable legal and other expenses (including the cost of any
investigation, preparation and travel in connection therewith) incurred in
connection with a claim of Loss hereunder, as such expenses are incurred 

- 3 - 

(b)          
Promptly after receipt by a Seller Indemnitee or an Company Indemnitee (each an
“Indemnitee”) of notice of the commencement of any action or proceeding
(including any governmental action or proceeding) involving a Loss, such
Indemnitee shall, if a claim in respect thereof is to be made against an
indemnitor under this Agreement (each an “Indemnitor”), deliver to the
Indemnitor a written notice of the commencement thereof, and the Indemnitor
shall have the right to participate in the defense thereof with its own counsel;
provided, however, that an Indemnitee shall have the right to retain its own
counsel with the fees and expenses of not more than one counsel for such
Indemnitee to be paid by the Indemnitor, if the named parties to such proceeding
include both the Indemnitor and the Indemnitee and, in the reasonable opinion of
the Indemnitee, the representation by such counsel of the Indemnitee and the
Indemnitor would be inappropriate due to actual or potential differing interests
between such Indemnitee and any other party represented by counsel in such
proceeding. The Indemnitee shall cooperate fully with the Indemnitor in
connection with any negotiation or defense of any such action or claim by the
Indemnitor and shall furnish to the Indemnitor all information reasonably
available to the Indemnitee which relates to such action or claim. The
Indemnitor shall keep the Indemnitee fully apprised at all times as to the
status of the defense or any settlement negotiations with respect thereto. The
Indemnitor shall not be liable for any settlement of any action, claim or
proceeding effected without its prior written consent; provided, however, that
the Indemnitor shall not unreasonably withhold, delay or condition its consent.
The Indemnitor shall not, without the prior written consent of the Indemnitee,
consent to entry of any judgment or enter into any settlement or other
compromise which does not include as an unconditional term thereof the giving by
the claimant or plaintiff to such Indemnitee of a release from all liability in
respect to such claim or litigation and such settlement shall not include any
admission as to fault on the part of the Indemnitee. Following indemnification
as provided for hereunder, the Indemnitor shall be subrogated to all rights of
the Indemnitee with respect to all third parties, firms or corporations relating
to the matter for which indemnification has been made. The failure to deliver
written notice to the Indemnitor within a reasonable time of the commencement of
any such action shall not relieve the Indemnitor of any liability to the
Indemnitee, except to the extent that the Indemnitor is prejudiced in its
ability to defend such action. 

(c)          
The indemnification required by this Agreement shall be made by periodic
payments of the amount thereof during the course of the defense against any of
the Losses, reasonably promptly upon the receipt by such Indemnitee of written bills
(with such appropriate supporting information as is reasonably requested by the
Indemnitor that a Loss has been incurred and the amount thereof (together with
such appropriate supporting information as is reasonably requested by the
Indemnitor); provided that the Indemnitee, as applicable, shall reimburse all
such payments to the extent it is finally judicially determined that such
Indemnitee is not entitled to indemnification hereunder. 

- 4 - 

(d)          
To the extent that the undertaking by the Indemnitor hereunder may be
unenforceable for any reason, the Indemnitor shall make the maximum contribution
to the payment and satisfaction of each of the Losses which is permissible under
applicable law.

(e)          
Notwithstanding anything else contained herein, the aggregate amount payable by
the Indemnitors collectively hereunder shall not exceed $385,000, which is equal
to the Purchase Price hereunder.

4.2          
Release. The Seller and its respective affiliates and/or heirs, hereby
releases and forever discharges the Company and its officers, directors,
employees, agents, counsels, accountants, affiliates and heirs (collectively,
the “Releasees”) from any and all claims, demands, judgments,
proceedings, causes of action, orders, obligations, contracts, agreements,
liens, accounts, costs and expenses (including attorney’s fees and court costs),
debts and liabilities whatsoever, whether known or unknown, suspected or
unsuspected, matured or unmatured, both at law (including federal and state
securities laws) and in equity, which the Seller or any of the Seller’s
respective affiliates and/or heirs now have, have ever had against the Releasees
arising contemporaneously with or prior to the date hereof or on account of or
arising out of any matter, cause, event or omission of any kind or nature
occurring contemporaneously with or prior to the date hereof. The Seller hereby
irrevocably covenants to refrain from, directly or indirectly, asserting any
claim or demand, or commencing, instituting or causing to be commenced, any
proceeding of any kind against any Releasee, based upon any matter purported to
be released hereby. Without in any way limiting any of the rights and remedies
otherwise available to any Releasee, the Seller shall indemnify and hold
harmless each Releasee from and against all actions, suits, proceedings,
hearings, investigations, charges, complaints, claims, demands, injunctions,
judgments, orders, decrees, rulings, damages, dues, penalties, fines, costs,
amounts paid in settlement, liabilities, obligations, security interests, taxes,
liens, losses, lost value, expenses and fees (including attorneys’ fees and
court costs) arising directly or indirectly from or in connection with (i) the
assertion by or on behalf of the Seller or any of its affiliates and/or heirs of
any claim or other matter purported to be released hereunder and (ii) the
assertion by any third party of any claim or demand against any Releasee which
claim or demand arises directly or indirectly from, or in connection with, any
assertion by or on behalf of the Seller or any of its affiliates and/or heirs
against any third party of any claims or other matters purported to be released
hereunder. 

ARTICLE V 
MISCELLANEOUS 

5.1.          
Entire Agreement. This Agreement and any other documents or agreements
executed in connection with the transactions contemplated hereunder, constitutes
the entire agreement of the parties, superseding and terminating any and all
prior or contemporaneous oral and written agreements, understandings or letters
of intent between or among the parties with respect to the subject matter of
this Agreement. No part of this Agreement may be modified or amended, nor may
any right be waived, except by a written instrument which expressly refers to
this Agreement, states that it is a modification or amendment of this Agreement
and is signed by the parties to this Agreement, or, in the case of waiver, by
the party granting the waiver. No course of conduct or dealing or trade usage or
custom and no course of performance shall be relied on or referred to by any
party to contradict, explain or supplement any provision of this Agreement, it being acknowledged by the
parties to this Agreement that this Agreement is intended to be, and is, the
complete and exclusive statement of the agreement with respect to its subject
matter. Any waiver shall be limited to the express terms thereof and shall not
be construed as a waiver of any other provisions or the same provisions at any
other time or under any other circumstances. 

- 5 - 

5.2.          
Severability. If any section, term or provision of this Agreement shall
to any extent be held or determined to be invalid or unenforceable, the
remaining sections, terms and provisions shall nevertheless continue in full
force and effect. 

5.3.          
Notices. Any and all notices or other communications or deliveries
required or permitted to be provided hereunder shall be in writing and shall be
deemed given and effective on the earliest of (a) the date of transmission, if
such notice or communication is delivered via facsimile (provided the sender
receives a machine-generated confirmation of successful transmission) at the
facsimile number specified in this Section prior to 5:30 p.m. (New York City
time) on a Business Day, (b) the next Business Day after the date of
transmission, if such notice or communication is delivered via facsimile at the
facsimile number specified in this Section on a day that is not a Business Day
or later than 5:30 p.m. (New York City time) on any Business Day, (c) the
Business Day following the date of mailing, if sent by U.S. nationally
recognized overnight courier service, or (d) upon actual receipt by the party to
whom such notice is required to be given. The address for such notices and
communications shall be as follows: 

	 	If to the Company: 	Pillsbury Winthrop Shaw Pittman LLP 
	 	  	2300 N Street, N.W. 
	 	  	Washington, DC 20037 
	 	  	Attention: Brian J. Buck, Esq. 
	 	  	Facsimile No.: 202.663.8007 
	 	  	Telephone No.: 202.663.8347 
	 	  	  
	 	If to the Seller: 	Justeene Blankenship, PLLC 
	 	  	7069 S. Highland Dr., Suite 300 
	 	  	Salt Lake City, UT 84121 
	 	  	Attention: Justeene Blankenship 
	 	  	Facsimile No.: 801.274.1099 
	 	  	Telephone No.: 801.274.1088

or such other address as may be designated in writing
hereafter, in the same manner, by such Person. 

5.4.          
Governing Law. All questions concerning the construction, validity,
enforcement and interpretation of this Agreement shall be governed by and
construed and enforced in accordance with the internal laws of the State of New
York, without regard to the principles of conflicts of law thereof. Each party
agrees that all proceedings concerning the interpretations, enforcement and
defense of the transactions contemplated by this Agreement (whether brought
against a party hereto or its respective Affiliates, employees or agents) shall
be commenced exclusively in the New York Courts. Each of the Parties submits to
the jurisdiction of any state or federal court sitting in New York, in any
proceeding arising out of or relating to this Agreement and agrees that all
claims in respect of the action or proceeding may be heard and determined in any
such court. Each of the Parties waives any defense of inconvenient forum to the
maintenance of any proceeding so brought and waives any bond, surety, or other
security that might be required of any other Party with respect thereto. Any
Party may make service on any other Party by sending or delivering a copy of the
process to the Party to be served at the address and in the manner provided for
the giving of notices in Section 5.3 above. Nothing in this Section 5.4,
however, shall affect the right of any Party to bring any proceeding arising out
of or relating to this Agreement in any other court or to serve legal process in any
other manner permitted by law or at equity. Each Party agrees that a final
judgment in any proceeding so brought shall be conclusive and may be enforced by
suit on the judgment or in any other manner provided by law or at equity. If
either party shall commence a proceeding to enforce any provisions of this
Agreement, then the prevailing party in such proceeding shall be reimbursed by
the other party for its reasonable attorneys’ fees and other costs and expenses
incurred with the investigation, preparation and prosecution of such proceeding. 

- 6 - 

5.5.          
Parties to Pay Own Expenses. Each of the parties to this Agreement shall
be responsible and liable for its own expenses incurred in connection with the
preparation of this Agreement, the consummation of the transactions contemplated
by this Agreement and related expenses. 

5.6.          
Successors. This Agreement shall be binding upon the parties and their
respective heirs, successors and permitted assigns; provided, however, that no
Party may assign this Agreement or any of its rights under this Agreement
without the prior written consent of the other Party. 

5.7.          
Further Assurances. Each Party to this Agreement agrees, without cost or
expense to any other Party, to deliver or cause to be delivered such other
documents and instruments as may be reasonably requested by the other Party to
this Agreement in order to carry out more fully the provisions of, and to
consummate the transaction contemplated by, this Agreement. 

5.8.          
Counterparts. This Agreement may be executed simultaneously in two or
more counterparts, each of which shall be deemed an original but all of which
together shall constitute one and the same instrument. 

5.9          
Construction. The headings herein are for convenience only, do not
constitute a part of this Agreement and shall not be deemed to limit or affect
any of the provisions hereof. The language used in this Agreement will be deemed
to be the language chosen by the Parties to express their mutual intent, and no
rules of strict construction will be applied against any Party. This Agreement
shall be construed as if drafted jointly by the Parties, and no presumption or
burden of proof shall arise favoring or disfavoring any Party by virtue of the
authorship of any provisions of this Agreement. 

5.10.          
Headings. The headings in the Sections of this Agreement are inserted for
convenience only and shall not constitute a part of this Agreement. 

[Remainder of this page intentionally left blank.] 

- 7 - 

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

GOOD EARTH LAND SALES
COMPANY

By: /s/ Petie Maguire 
Name: Petie Maguire 
Title:
President and Chief Executive Officer 

[SELLER SIGNATURE PAGE FOLLOWS]

Signature Page to Repurchase Agreement 

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

By: /s/Petie
Maguire                  
 
Petie Maguire 

Signature Page to Repurchase Agreement

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