Document:

EX-10.1

Exhibit 10.1

SENIOR OFFICER EMPLOYMENT AGREEMENT

     THIS SENIOR OFFICER EMPLOYMENT AGREEMENT (this “Agreement”) is entered into effective the
3rd day of August, 2009 by and between The GEO Group, Inc. (the “Company”) and Brian
Evans (the “Employee” and, together with the Company, the “Parties”).

     WHEREAS, the terms of this Agreement have been reviewed and approved by the members of the
Compensation Committee of the Board of Directors of the Company (the “Board”).

     NOW THEREFORE, in consideration of the mutual covenants and agreements contained herein, and
for other valuable consideration the receipt and adequacy of which is hereby acknowledged, the
Parties hereby agree as follows:

     1. Position and Duties. The Company hereby agrees to continue to employ the Employee and the
Employee hereby accepts continued employment and agrees to continue to serve as Chief Financial
Officer of the Company. The Employee will perform all duties and responsibilities and will have
all authority inherent in the position of Chief Financial Officer.

     2. Term of Agreement and Employment. The term of the Employee’s employment under this
Agreement will be for an initial period of two (2) years, beginning on the effective date of this
Agreement, and terminating two years thereafter. The term of employment under this Agreement will
be automatically extended by one day every day such that it has a continuous “rolling” two-year
term until the age of 67 years, unless otherwise terminated pursuant to Section 6 or 7 of this
Agreement.

     3. Definition — Cause. For purposes of this Agreement, “Cause” for the termination of the
Employee’s employment hereunder shall be deemed to exist if, in the reasonable judgment of the
Company’s Chief Executive Officer (CEO): (i) the Employee commits fraud, theft or embezzlement
against the Company or any subsidiary or affiliate thereof; (ii) the Employee commits a felony or a
crime involving moral turpitude; (iii) the Employee breaches any non-competition, confidentiality
or non-solicitation agreement with the Company or any subsidiary or affiliate thereof; (iv) the
Employee breaches any of the terms of this Agreement and fails to cure such breach within 30 days
after the receipt of written notice of such breach from the Company; or (v) the Employee engages in
gross negligence or willful misconduct that causes harm to the business and operations of the
Company or a subsidiary or affiliate thereof.

     4. Compensation.

	 	A.	 	Annual Base Salary. The Employee shall be paid his current
annual base salary of $400,000.00 for the remainder of calendar year 2009 (as
such may be amended from time to time, the “Annual Base Salary”). The Company
may increase the Annual Base Salary paid to the Employee in an amount to be
determined by the Chief Executive Officer of the Company. The Annual Base
Salary shall be payable at such regular times and intervals as the Company
customarily pays its employees from time to time.

 

 

	 	B.	 	Annual Performance Award. For each fiscal year of employment
during which the Company employs the Employee, the Employee shall be entitled
to receive a target annual performance award in accordance with the terms of
any plan governing employee performance awards then in effect as established by
the Board (the “Annual Performance Award”).

     5. Employee Benefits. The Employee will be entitled to twenty-one (21) paid-time-off (PTO)
days of vacation per fiscal year during his/her first ten (10) years of service, and twenty-six
(26) paid-time-off (PTO) days of vacation per fiscal year thereafter. The Employee, the Employee’s
spouse, and qualifying members of the Employee’s family will be eligible for and will participate
in any benefits and perquisites available to other senior vice presidents of the Company, including
any group health, dental, life insurance, disability, or other form of employee benefit plan or
program of the Company now existing or that may be later adopted by the Company (collectively, the
“Employee Benefits”).

     6. Death or Disability. The Employee’s employment will terminate immediately upon the
Employee’s death. If the Employee becomes physically or mentally disabled so as to become unable
for a period of more than five consecutive months or for shorter periods aggregating at least five
months during any twelve-month period to perform the Employee’s duties hereunder on a substantially
full-time basis, the Employee’s employment will terminate as of the end of such five-month or
twelve-month period and this shall be considered a “disability” under this Agreement. Such
termination shall not affect the Employee’s benefits under the Company’s disability insurance
program, if any, then in effect.

     7. Termination. Either the Employee or the Company may terminate this Agreement for any
reason upon not less than thirty (30) days written notice.

	 	A.	 	Termination of Employment Without Cause or Upon the Death or
Disability of the Employee. Upon the termination of the Employee’s employment
under this Agreement by the Company without Cause or the death or disability of
the Employee, the following shall apply:

	 	(i)	 	Termination Payment. The Employee shall be
entitled to and paid a termination payment (the “Termination Payment”)
equal to two (2) years’ Annual Base Salary as set forth in Section 4
based upon the then current salary level. The Termination Payment
shall be made within 10 days of any termination pursuant to this
Section 7(A).
	 
	 	(ii)	 	Termination Benefits. The Company shall
continue to provide the Employee and any covered dependents of the
Employee (and if applicable, his beneficiaries) with the Employee
Benefits (as described in Section 5 hereof) for a period of 2 years
after the date of termination of the Employee’s employment with the
Company. Such Employee Benefits shall be provided at no cost to the
Employee in no less than the same amount, and on the same terms and
conditions, as in effect on the date on which the termination of
employment occurs. If the Employee dies during the 2-year period
following a termination pursuant to this Section 7(A), the Company
shall continue to provide the Employee Benefits to the Employee’s
covered dependents under the same terms as were being provided prior
to the Employee’s death and, to the extent applicable, to the
Employee’s estate.

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	 	(iii)	 	Termination Automobile. Within 10 days
following termination, the Company shall transfer all of its interest
in any automobile used by the Employee pursuant to the Company’s
Employee Automobile Policy (the “Employee Automobile Policy”) and shall
pay the balance of any outstanding loans or leases on such automobile
(whether such obligations are those of the Employee or the Company) so
that the Employee owns the automobile outright (in the event such
automobile is leased, the Company shall pay the residual cost of such
lease).
	 
	 	(iv)	 	Termination Stock Options. All of the
outstanding unvested stock options granted to the Employee prior to
termination will fully vest immediately upon termination.

	 	B.	 	Termination of Employment by Resignation of Employee or by the
Company With Cause. Upon the termination of the Employee’s employment by the
voluntary resignation of the Employee or by the Company with Cause, the
Employee shall be due no further compensation under this Agreement related to
Annual Base Salary, Annual Performance Award, Employee Benefits, or Termination
Payment other than what is due and owing through the effective date of the
Employee’s resignation or termination.
	 
	 	C.	 	Retirement Plan Rights Unaffected. Termination of the
Employee’s employment under this Agreement for any reason whatsoever shall not
affect the Employee’s rights under the Company’s retirement plan applicable to
the Employee.

     8. Restrictive Covenants.

	 	A.	 	General. The Company and the Employee hereby acknowledge and
agree that (i) the Employee is in possession of trade secrets (as defined in
Section 688.002(4) of the Florida Statutes) of the Company (the “Trade
Secrets”), (ii) the restrictive covenants contained in this Section 8 are
justified by legitimate business interests of the Company, including, but not
limited to, the protection of the Trade Secrets, in accordance with Section
542.335(1)(e) of the Florida Statutes, and (iii) the restrictive covenants
contained in this Section 8 are reasonably necessary to protect such legitimate
business interests of the Company.

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	 	B.	 	Non-Competition. During the period of the Employee’s
employment with the Company and until two (2) years after the termination of
the Employee’s employment with the Company, the Employee will not, directly or
indirectly, either (i) on the Employee’s own behalf or as a partner, officer,
director, trustee, employee, agent, consultant or member of any person, firm or
corporation, or otherwise, enter into the employ of, render any service to, or
engage in any business or activity which is the same as or competitive with any
business or activity conducted by the Company or any of its affiliates or
majority-owned subsidiaries or (ii) become an officer, employee or consultant
of, or otherwise assume a substantial role or relationship with, any
governmental entity, agency or political subdivision that is a client or
customer of the Company or any subsidiary or affiliate of the Company;
provided, however, that the foregoing shall not be deemed to prevent the
Employee from investing in securities of any company having a class of
securities which is publicly traded, so long as through such investment
holdings in the aggregate, the Employee is not deemed to be the beneficial
owner of more than 5% of the class of securities that is so publicly traded.
During the period of the Employee’s employment and until two (2) years after
the termination of the Employee’s employment, the Employee will not, directly
or indirectly, on the Employee’s own behalf or as a partner, shareholder,
officer, employee, director, trustee, agent, consultant or member of any
person, firm or corporation or otherwise, seek to employ or otherwise seek the
services of any employee of the Company or any of its affiliates or
majority-owned subsidiaries.
	 
	 	C.	 	Confidentiality. During and following the period of the
Employee’s employment with the Company, the Employee will not use for the
Employee’s own benefit or for the benefit of others, or divulge to others, any
information, Trade Secrets, knowledge or data of a secret or confidential
nature and otherwise not available to members of the general public that
concerns the business or affairs of the Company or its subsidiaries or
affiliates and which was acquired by the Employee at any time prior to or
during the term of the Employee’s employment with the Company, except with the
specific prior written consent of the Company.
	 
	 	D.	 	Work Product. The Employee agrees that all programs,
inventions, innovations, improvements, developments, methods, designs,
analyses, reports and all similar or related information which relate to the
business of the Company and its subsidiaries and affiliates, actual or
anticipated, or to any actual or anticipated research and development conducted
in connection with the business of the Company and its subsidiaries affiliates,
and all existing or future products or services, which are conceived, developed
or made by the Employee (alone or with others) during the term of this
Agreement (“Work Product”) belong to the Company. The Employee will cooperate
fully in the establishment and maintenance of all rights of the Company and its
subsidiaries and affiliates
in such Work Product. The provisions of this Section 8(D) will survive
termination of this Agreement indefinitely to the extent necessary to
require actions to be taken by the Employee after the termination of the
Agreement with respect to Work Product created during the term of this
Agreement.

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	 	E.	 	Enforcement. The Parties agree and acknowledge that the
restrictions contained in this Section 8 are reasonable in scope and duration
and are necessary to protect the Company or any of its subsidiaries or
affiliates. If any covenant or agreement contained in this Section 8 is found
by a court having jurisdiction to be unreasonable in duration, geographical
scope or character of restriction, the covenant or agreement will not be
rendered unenforceable thereby but rather the duration, geographical scope or
character of restriction of such covenant or agreement will be reduced or
modified with retroactive effect to make such covenant or agreement reasonable,
and such covenant or agreement will be enforced as so modified. The Employee
agrees and acknowledges that the breach of this Section 8 will cause
irreparable injury to the Company or any of its subsidiaries or affiliates and
upon the breach of any provision of this Section 8, the Company or any of its
subsidiaries or affiliates shall be entitled to injunctive relief, specific
performance or other equitable relief, without being required to post a bond;
provided, however, that, this shall in no way limit any other remedies which
the Company or any of its subsidiaries or affiliates may have (including,
without limitation, the right to seek monetary damages).

     9. Representations. The Employee hereby represents and warrants to the Company that (i) the
execution, delivery and full performance of this Agreement by the Employee does not and will not
conflict with, breach, violate or cause a default under any agreement, contract or instrument to
which the Employee is a party or any judgment, order or decree to which the Employee is subject;
(ii) the Employee is not a party or bound by any employment agreement, consulting agreement,
agreement not to compete, confidentiality agreement or similar agreement with any other person or
entity; and (iii) upon the execution and delivery of this Agreement by the Employee and the
Company, this Agreement will be the Employee’s valid and binding obligation, enforceable in
accordance with its terms.

     10. Arbitration. In the event of any dispute between the Company and the Employee with
respect to this Agreement, either party may, in its sole discretion by notice to the other, require
such dispute to be submitted to arbitration. The arbitrator will be selected by agreement of the
Parties or, if they cannot agree on an arbitrator or arbitrators within 30 days after the giving of
such notice, the arbitrator will be selected by the American Arbitration Association. The
determination reached in such arbitration will be final and binding on both Parties without any
right of appeal. Execution of the determination by such arbitrator may be sought in any court
having jurisdiction. Unless otherwise agreed by the Parties, any such arbitration will take place
in West Palm Beach, Florida and will be conducted in accordance with the rules of the American
Arbitration Association. If the Employee is the prevailing party in any such
arbitration, he will be entitled to reimbursement by the Company of all reasonable costs and
expenses (including attorneys’ fees incurred in such arbitration).

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     11. Assignment. The Employee may not assign, transfer, convey, mortgage, hypothecate, pledge
or in any way encumber the compensation or other benefits payable to the Employee or any rights
which the Employee may have under this Agreement. Neither the Employee nor the Employee’s
beneficiary or beneficiaries will have any right to receive any compensation or other benefits
under this Agreement, except at the time, in the amounts and in the manner provided in this
Agreement. This Agreement will inure to the benefit of and will be binding upon any successor to
the Company, and any successor to the Company shall be authorized to enforce the terms and
conditions of this Agreement, including the terms and conditions of the restrictive covenants
contained in Section 8 hereof. As used in this Agreement, the term “successor” means any person,
firm, corporation or other business entity which at any time, whether by merger, purchase or
otherwise, acquires all or substantially all of the capital stock or assets of the Company. This
Agreement may not otherwise be assigned by the Company.

     12. Governing Law. This Agreement shall be governed by the laws of the State of Florida
without regard to the application of conflicts of laws.

     13. Entire Agreement. This Agreement constitutes the only agreement between the Company and
the Employee regarding the Employee’s employment by the Company. This Agreement supersedes any and
all other agreements and understandings, written or oral, between the Company and the Employee
regarding the subject matter hereof and thereof. A waiver by either party of any provision of this
Agreement or any breach of such provision in an instance will not be deemed or construed to be a
waiver of such provision for the future, or of any subsequent breach of such provision. This
Agreement may be amended, modified or changed only by further written agreement between the Company
and the Employee, duly executed by both Parties.

     14. Severability; Survival. In the event that any provision of this Agreement is found to be
void and unenforceable by a court of competent jurisdiction, then such unenforceable provision
shall be deemed modified so as to be enforceable (or if not subject to modification then eliminated
herefrom) to the extent necessary to permit the remaining provisions to be enforced in accordance
with the Parties’ intention. The provisions of Section 8 (and the restrictive covenants contained
therein) shall survive the termination for any reason of this Agreement and/or the Employee’s
relationship with the Company.

     15. Notices. Any and all notices required or permitted to be given hereunder will be in
writing and will be deemed to have been given when deposited in United States mail, certified or
registered mail, postage prepaid. Any notice to be given by the Employee hereunder will be
addressed to the Company to the attention of its General Counsel at its main offices, One Park
Place, Suite 700, 621 Northwest 53rd Street, Boca Raton, Florida 33487. Any notice to be given to
the Employee will be addressed to the Employee at the Employee’s residence address last provided by
the Employee to Company. Either party may change the address to which notices are to be addressed
by notice in writing to the other party given in accordance with the terms of this Section.

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     16. Headings. Section headings are for convenience of reference only and shall not limit or
otherwise affect the meaning or interpretation of this Agreement or any of its terms and
conditions.

17. SECTION 409A COMPLIANCE.

	 	A.	 	GENERAL. It is the intention of both the Company and the Employee that
the benefits and rights to which the Employee is entitled pursuant to this Agreement
comply with Code Section 409A, to the extent that the requirements of Code Section 409A
are applicable thereto, and the provisions of this Agreement shall be construed in a
manner consistent with that intention. If the Employee or the Company believes, at any
time, that any such benefit or right that is subject to Code Section 409A does not so
comply, it shall promptly advise the other and shall negotiate reasonably and in good
faith to amend the terms of such benefits and rights such that they comply with Code
Section 409A (with the most limited possible economic effect on the Employee and on the
Company).
	 
	 	B.	 	DISTRIBUTIONS ON ACCOUNT OF SEPARATION FROM SERVICE. To the extent
required to comply with Code Section 409A, any payment or benefit required to be paid
under this Agreement on account of termination of the Employee’s service (or any other
similar term) shall be made only in connection with a “separation from service” with
respect to the Employee within the meaning of Code Section 409A.
	 
	 	C.	 	NO ACCELERATION OF PAYMENTS. Neither the Company nor the Employee,
individually or in combination, may accelerate any payment or benefit that is subject
to Code Section 409A, except in compliance with Code Section 409A and the provisions of
this Agreement, and no amount that is subject to Code Section 409A shall be paid prior
to the earliest date on which it may be paid without violating Code Section 409A.
	 
	 	D.	 	SIX MONTH DELAY FOR SPECIFIED EMPLOYEES. In the event that the
Employee is a “specified employee” (as described in Code Section 409A), and any payment
or benefit payable pursuant to this Agreement constitutes deferred compensation under
Code Section 409A, then the Company and the Employee shall cooperate in good faith to
undertake any actions that would cause such payment or benefit not to constitute
deferred compensation under Code Section 409A. In the event that, following such
efforts, the Company determines (after consultation with its counsel) that such payment
or benefit is still subject to the six-month delay requirement described in Code
Section 409A(2)(b) in order for such payment or benefit to comply with the requirements
of Code Section 409A, then no such payment or benefit shall be made before the date
that is six months after the Employee’s “separation from service” (as described in Code
Section 409A) (or, if earlier, the date of the Employee’s death). Any payment or
benefit delayed by reason of the prior sentence shall be paid out or provided in a
single lump sum at the end of such required delay period in order to catch up to the
original payment schedule.

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	 	E.	 	TREATMENT OF EACH INSTALLMENT AS A SEPARATE PAYMENT. For purposes of
applying the provisions of Code Section 409A to this Agreement, each separately
identified amount to which the Employee is entitled under this Agreement shall be
treated as a separate payment. In addition, to the extent permissible under Code
Section 409A, any series of installment payments under this Agreement shall be treated
as a right to a series of separate payments.
	 
	 	F.	 	REIMBURSEMENTS AND IN-KIND BENEFITS. With respect to reimbursements
and in-kind benefits that may be provided under the Agreement (the “Reimbursement
Plans”), to the extent any benefits provided under the Reimbursement Plans are subject
to Section 409A, the Reimbursement Plans shall meet the following requirements:

     (i) Reimbursement Plans shall use an objectively determinable, nondiscretionary
definition of the expenses eligible for reimbursement or of the in-kind benefits to
be provided;

     (ii) Reimbursement Plans shall provide that the amount of expenses eligible for
reimbursement, or in-kind benefits provided, during the Employee’s taxable year may
not affect the expenses eligible for reimbursement, or in-kind benefits to be
provided, in any other taxable year, provided, however, that Reimbursement Plans
providing for reimbursement of expenses referred to in Code Section 105(b) shall not
fail to meet the requirement of this Section 18(G)(ii) solely because such
Reimbursement Plans provide for a limit on the amount of expenses that may be
reimbursed under such arrangements over some or all of the period in which
Reimbursement Plans remain in effect;

     (iii) The reimbursement of an eligible expense is made on or before the last
day of the Employee’s taxable year following the taxable year in which the expense
was incurred; and

     (iv) The right to reimbursement or in-kind benefits under the Reimbursement
Plans shall not be subject to liquidation or exchange for another benefit.

	 	G.	 	EMPLOYEE BENEFITS. With respect to any Employee Benefits that do not
comply with (or are not exempt from) Code Section 409A, to the extent applicable, the
Employee shall be deemed to receive from the Company a monthly payment necessary for
the Employee to purchase the benefit in question.

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     IN WITNESS WHEREOF, the Parties hereto have executed and delivered this Agreement under seal
as of the date first above written.

	 	 	 	 	 
	 	THE GEO GROUP, INC.

 	 
	 	By:  	/s/
George C. Zoley 	 
	 	 	Name:  	George C. Zoley 	 
	 	 	Title:  	Chairman & Chief Executive Officer 	 
	 

	 	 	 	 	 
	 	EMPLOYEE

 	 
	 	By:  	/s/
Brian Evans 	 
	 	 	Brian Evans 	 
	 	 	Title:  	Chief Financial Officer

The GEO Group, Inc. 	 
	 

9exv10w2

Exhibit 10.2

Consent

Regarding

Loan and Security Agreement

     THIS CONSENT Regarding Loan and Security Agreement (this “Consent”) is entered into as of June
19, 2009, by and between SILICON VALLEY BANK (“Bank”), on the one side, and

     EV3 ENDOVASCULAR, INC., a Delaware corporation,

     EV3 INTERNATIONAL, INC., a Delaware corporation,

     MICRO THERAPEUTICS, INC., a Delaware corporation, and

     FOXHOLLOW TECHNOLOGIES, INC., a Delaware corporation

(collectively and jointly and severally referred to as “Borrowers”), whose address is c/o ev3 Inc.,
9600 54th Avenue North, Plymouth, MN 55442, on the other side.

Recitals

     A. Bank and Borrowers have entered into that certain Loan and Security Agreement dated as of
an Effective Date of June 28, 2006 (as the same may from time to time be further amended, modified,
supplemented or restated, the “Loan Agreement”). The Obligations of the Borrowers have been
guarantied by, among others, the following companies, in favor of Bank: ev3 Inc., a Delaware
corporation; Micro Therapeutics International, Inc., a Delaware corporation; and ev3 Peripheral,
Inc., a Minnesota corporation (collectively, the “Guarantors”).

     B. Bank has extended credit to Borrowers for the purposes permitted in the Loan Agreement.

     C. Borrowers have requested that Bank (i) consent to the Chestnut Merger (as defined below),
and (ii) make certain other revisions to the Loan Agreement, all as more fully set forth herein.

     D. Bank has agreed to provide a consent and to so amend certain provisions of the Loan
Agreement, but only to the extent, in accordance with the terms, subject to the conditions and in
reliance upon the representations and warranties set forth below.

Agreement

     Now, Therefore, in consideration of the foregoing recitals and other good and
valuable consideration, the receipt and adequacy of which is hereby acknowledged, and intending to
be legally bound, the parties hereto agree as follows:

 

 

     1. Definitions. Capitalized terms used but not defined in this Consent shall have the
meanings given to them in the Loan Agreement.

     2. Consent to Merger. Borrowers have advised Bank that (a) Parent has entered into an
agreement and plan of merger whereby Starsky Merger Sub, Inc., a California corporation and a
direct wholly owned subsidiary of Parent, will merge with and into Chestnut Medical Technologies,
Inc., a California corporation (“Chestnut Medical”), with Chestnut Medical being the surviving
corporation, and, immediately subsequent to such merger, Chestnut Medical will merge with and into
Starsky Acquisition Sub, Inc., a California corporation and a direct wholly owned subsidiary of
Parent (“Merger Subsidiary”), with Merger Subsidiary being the surviving corporation (such mergers
being collectively referred to as the “Chestnut Mergers”), and (b) the total consideration for the
acquisition of Chestnut Medical by virtue of the Chestnut Mergers shall be a maximum of
$150,000,000 to be structured as follows:

An amount equal to $75,000,000 will be payable by Parent at closing of the
Chestnut Mergers, with 50% to be paid in cash and the remaining amount in Parent
stock; and

Upon receiving a FDA pre-market approval letter (“PMA letter”) for securing an
indication to treat intracranial aneurysms and to commercialize the Chestnut
Medical Pipeline device in the United States, a second payment by Parent will be
structured as follows: $75,000,000 (split 50/50 between cash and Parent stock)
provided that (y) if the PMA letter is not received by October 1, 2011, the
$75,000,000 payment will decrease by $3,750,000 per month and will decrease to
zero if the PMA letter is not received by December 31, 2012, and (z) if the
following conditions are not satisfied, Parent will be able to defer up to
$30,000,000 of the cash portion of the payment for 12 months: (A) Parent has a
minimum cash balance of $75,000,000 at the time the PMA letter is received, (B)
making the payment would not result in an Event of Default under the Loan
Documents, and (C) the payment would not be viewed as materially adverse to the
business.

Parent and Borrowers have requested that, in accordance with Sections 7.3 and 7.7(a) of the Loan
Agreement, Bank consent to the Chestnut Mergers, and, in reliance on the representations,
warranties and covenants contained herein, Bank hereby consents to the Chestnut Mergers, upon the
conditions that (which conditions Borrowers agree to satisfy) (i) concurrently herewith Merger
Subsidiary shall grant to Bank a security interest in all of its “Collateral” (defined herein as
defined in the Loan Agreement except that references in such definition to Borrower shall instead
be to Merger Subsidiary) to secure all of the Obligations pursuant to a writing acceptable to Bank,
(ii) immediately after the consummation of the Chestnut Mergers, Bank shall have a first-priority,
perfected, security interest in all of the Collateral of Merger Subsidiary, and such Collateral
shall be subject to no security interests or Liens other than Permitted Liens, and (iii) the
Chestnut Mergers are consummated on or before July 31, 2009. This consent does not constitute a
waiver of any of the other terms or provisions of the Loan Agreement, or any other Loan Documents,
or any other agreement, document or instrument providing rights in favor of

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Bank, nor does it constitute a consent to any other transaction or event, whether or not similar to
the foregoing, and whether or not related to any of the transactions or events referred to herein.
For purposes of clarity and without limitation on the generality of the foregoing limitations on
Bank’s consent, Borrowers acknowledge that Bank is not consenting to any breach of any financial
covenant that may be contained in the Loan Documents that may result from the Chestnut Mergers.

     3. New Guarantor. Borrowers agree to cause the following to occur within 30 days of the
consummation of the Chestnut Mergers:

          a. Merger Subsidiary shall become a Guarantor of the Obligations by executing a continuing
guaranty in favor of Bank, and shall execute a security agreement in favor of Bank, in each case in
the same form and substance as has been executed by the other Guarantors.

          b. Merger Subsidiary, Borrowers and Guarantors shall execute such documents, and take such
actions, as Bank shall reasonably request, in order that the agreements and other documentation
that effectuates Merger Subsidiary becoming a secured Guarantor shall be the same as that for the
other Guarantors.

          c. Merger Subsidiary’s organizational documents shall not prohibit or limit Merger Subsidiary
becoming a Guarantor or providing the security interest contemplated herein.

     4. Further Mergers of Merger Subsidiary.

          4.1 Section 7.3 (Mergers or Acquisitions). Notwithstanding and without limitation upon
Section 7.3 of the Loan Agreement, after the consummation of the Chestnut Mergers, Merger
Subsidiary shall not merge into any Borrower or Secured Guarantor unless Bank has consented in
writing.

     5. Limitation on Consent and Amendments

          5.1 The consents and amendments set forth herein are effective for the purposes set forth
herein and shall be limited precisely as written and shall not be deemed to (a) be a consent to any
other transaction or to any amendment, waiver or modification of any other term or condition of any
Loan Document, or (b) otherwise prejudice any right or remedy which Bank may now have or may have
in the future under or in connection with any Loan Document.

          5.2 This Consent shall be construed in connection with and as part of the Loan Documents and
all terms, conditions, representations, warranties, covenants and agreements set forth in the Loan
Documents, except as herein amended, are hereby ratified and confirmed, shall remain in full force
and effect, and are incorporated herein by reference.

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     6. Representations and Warranties. To induce Bank to enter into this Consent, each Borrower
hereby represents and warrants to Bank as follows:

          6.1 Immediately after giving effect to this Consent (a) the representations and warranties
contained in the Loan Documents are true, accurate and complete in all material respects as of the
date hereof (except to the extent such representations and warranties relate to an earlier date, in
which case they are true and correct as of such date), and (b) no Event of Default has occurred and
is continuing;

          6.2 Borrower has the power and authority to execute and deliver this Consent and to perform
its obligations under the Loan Agreement, as amended or supplemented by this Consent;

          6.3 The organizational documents of Borrower previously delivered to Bank remain true,
accurate and complete and have not been amended, supplemented or restated and are and continue to
be in full force and effect except for the amendment to Parent’s Amended and Restated Certificate
of Incorporation filed with the SEC as an exhibit to Form 8-K on July 23, 2007, a copy of which has
been provided to Bank marked to show the differences from the certificate of incorporation of
Parent that was in effect as of June 21, 2005;

          6.4 The execution and delivery by Borrower of this Consent and the performance by Borrower of
its obligations under the Loan Agreement, as amended or supplemented by this Consent, have been
duly authorized;

          6.5 The execution and delivery by Borrower of this Consent and the performance by Borrower of
its obligations under the Loan Agreement, as amended or supplemented by this Consent, do not and
will not contravene (a) any law or regulation binding on or affecting Borrower, (b) any contractual
restriction with a Person binding on Borrower, (c) any order, judgment or decree of any court or
other governmental or public body or authority, or subdivision thereof, binding on Borrower, or
(d) the organizational documents of Borrower;

          6.6 The execution and delivery by Borrower of this Consent and the performance by Borrower of
its obligations under the Loan Agreement, as amended or supplemented by this Consent, do not
require any order, consent, approval, license, authorization or validation of, or filing, recording
or registration with, or exemption by any governmental or public body or authority, or subdivision
thereof, binding on Borrower, except (i) such filings as shall be required by law to perfect
security interests in the Collateral of Merger Subsidiary as contemplated by this Consent, or
(ii) as already has been obtained or made; and

          6.7 This Consent has been duly executed and delivered by Borrower and is the binding
obligation of Borrower, enforceable against Borrower in accordance with its terms, except as such
enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or
other similar laws of general application and equitable principles relating to or affecting
creditors’ rights.

4

 

     7. Counterparts. This Consent may be executed in any number of counterparts and all of such
counterparts taken together shall be deemed to constitute one and the same instrument.

     8. Effectiveness. This Consent shall be deemed effective upon (a) the due execution and
delivery of this Consent by each party hereto, and (b) Bank’s receipt of the Acknowledgment of
Consent and Reaffirmation of Guaranty substantially in the form attached hereto as Schedule 1, duly
executed and delivered by each Guarantor named thereon.

     In Witness Whereof, the parties hereto have caused this Consent to be duly executed
and delivered as of the date first written above.

	 	 	 	 	 	 	 	 	 	 	 
	Borrowers:	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	EV3 ENDOVASCULAR, INC.	 	 	 	EV3 INTERNATIONAL, INC.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Kevin Klemz
	 	 	 	By:
	 	/s/ Kevin Klemz	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	Name:

	 	Kevin Klemz
	 	 	 	Name:
	 	Kevin Klemz	 	 
	Title:

	 	Secretary
	 	 	 	Title:
	 	Secretary	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	MICRO THERAPEUTICS, INC.	 	 	 	FOXHOLLOW TECHNOLOGIES, INC.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Kevin Klemz
	 	 	 	By:
	 	/s/ Kevin Klemz	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	Name:

	 	Kevin Klemz
	 	 	 	Name:
	 	Kevin Klemz	 	 
	Title:

	 	Secretary
	 	 	 	Title:
	 	Secretary	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Bank:	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	SILICON VALLEY BANK	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By: 

Name:

	 	/s/ Jay Wefel
 

Jay Wefel
	 	 	 	 	 	 	 	 
	Title:

	 	Relationship Manager	 	 	 	 	 	 	 	 

5

 

Schedule 1

Acknowledgment of Consent

and Reaffirmation of Guaranty

June 23, 2009

Silicon Valley Bank

380 Interlocken Crescent Ste 600

Broomfield, CO 80021

     Re:      Silicon Valley Bank/ev3 Inc.

Gentlemen:

     Reference is made to (i) the Loan and Security Agreement (as amended from time to time, the
“Loan Agreement”), dated as of an Effective Date of June 28, 2006, between Silicon Valley Bank
(“Bank”), on the one side, and ev3 Endovascular, Inc., ev3 International, Inc., Micro Therapeutics,
Inc., and FoxHollow Technologies, Inc. (collectively, the “Borrowers”), on the other side, and (ii)
the Consent Regarding Loan and Security Agreement (the “Consent”), of substantially even date,
between Bank and Borrowers. (Capitalized terms used but not defined herein shall have the meanings
given to them in the Loan Agreement.)

     The undersigned (each a “Guarantor”) are each parties to that certain Amended Unconditional
Guaranty, dated as of December 14, 2007, in favor of Bank (the “Guaranty”). Each Guarantor agrees
that:

     Section 1. It acknowledges and confirms that it has reviewed and approved the terms and
conditions of the Consent.

     Section 2. It consents to the Consent and agrees that the Guaranty shall continue in full
force and effect, shall be valid and enforceable and shall not be impaired or otherwise affected by
the execution of the Consent or any other document or instrument delivered in connection herewith.

     Section 3. It represents and warrants that, after giving effect to the Consent, all
representations and warranties contained in the Guaranty are true, accurate and complete as if made
the date hereof.

     Section 4. Notwithstanding the foregoing, it acknowledges and agrees that its approval and
consent are not required by the Guaranty and are not required in order for

6

 

the Guaranty to continue in full force and effect, as valid, enforceable and unimpaired, and
that Bank’s request for its consent is not meant to establish a course of conduct requiring future
consents.

     Section 5. This agreement may be executed in any number of counterparts and all such
counterparts taken together shall be deemed to constitute one and the same instrument. This
agreement, the Guaranty, and the other written agreements entered into in connection with the
Guaranty constitute and contain the entire agreement of the parties and supersede any and all prior
and contemporaneous agreements, negotiations, correspondence, understandings and communications
between the undersigned and Bank, whether written or oral, respecting the subject matter hereof.
This agreement shall be construed in connection with and as a part of the Guaranty and the terms of
the Guaranty are incorporated herein.

Guarantor

	 	 	 	 	 	 	 	 	 	 	 
	ev3 Inc.	 	 	 	ev3 Peripheral, Inc.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Kevin Klemz
	 	 	 	By:
	 	/s/ Kevin Klemz	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	Name:

	 	Kevin Klemz
	 	 	 	Name:
	 	Kevin Klemz	 	 
	Title:

	 	Secretary
	 	 	 	Title:
	 	Secretary	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Micro Therapeutics International, Inc.
 	 	 	 	 	 	 	 	 
	 
	By: 

Name:

	 	/s/ Kevin Klemz
 

Kevin Klemz
	 	 	 	 	 	 	 	 
	Title:

	 	Secretary	 	 	 	 	 	 	 	 

7

 

June 24, 2009

Silicon Valley Bank

     Re:       Silicon Valley Bank/Starsky Acquisition Sub, Inc.

Gentlemen:

     Reference is made to the Loan and Security Agreement (as amended, modified, supplemented or
restated from time to time, the “Loan Agreement”), dated June 28, 2006, between Silicon Valley Bank
(“Bank”) and ev3 Endovascular, Inc., ev3 International, Inc., Micro Therapeutics, Inc., and
Foxhollow Technologies, Inc. (jointly and severally, “Borrower”).

     The undersigned (“Pledgor”) hereby grants to the Bank a continuing security interest in all
presently existing and later acquired “Collateral” as described on Exhibit A to secure all now
existing and later arising “Obligations” (as defined in the Loan Agreement) of Borrower. Pledgor
hereby represents and warrants to Bank that such Collateral is held by it free and clear of all
“Liens” (as defined in the Loan Agreement) other than “Permitted Liens” (as defined in the Loan
Agreement; provided that for purposes of the use of the term “Permitted Liens” in the context of
Pledgor, when “Borrower” is used in such definition it shall be deemed to refer to Pledgor.)
Pledgor hereby waives (i) until all of the Obligations have been irrevocably paid and performed in
full (other than inchoate indemnity obligations), all rights of subrogation, reimbursement,
indemnification and contribution of every kind, and all rights of recourse to any assets of
Borrower, and all rights to any collateral or security held for the payment and performance of any
Obligations, including (but not limited to) any of the foregoing rights which Pledgor may have
under any present or future document or agreement with Borrower or any other person, and including
(but not limited to) any of the foregoing rights which Pledgor may have under any equitable
doctrine of subrogation, implied contract, or unjust enrichment, or any other equitable or legal
doctrine, (ii) any other rights or defenses that are or may become available to Pledgor by reason
of Sections 2787 to 2855, inclusive, of the California Civil Code, and (iii) any rights or defenses
that Pledgor may have by reason of any election of remedies by Bank.

     California law governs this agreement without regard to principles of conflicts of law. In any
proceeding arising out of this agreement, the prevailing party will be entitled to recover its
reasonable attorneys’ fees and other reasonable costs and expenses. This Agreement may be executed
in any number of counterparts.

	 	 	 	 	 	 	 
	 	 	Sincerely,	 	 
	 
	 	 	 	 	 	 
	 	 	STARSKY ACQUISITION SUB, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Kevin Klemz	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Kevin Klemz	 	 
	 

	 	Title:
	 	CEO and Secretary	 	 

	 	 	 	 	 
	Accepted and Agreed:	 	 
	 
	 	 	 	 
	SILICON VALLEY BANK	 	 
	 
	 	 	 	 
	By

	 	 
 

	 	 
	Name:

	 	 
 

	 	 
	Title:

	 	 
 

	 	 

8

 

EXHIBIT A

     The Collateral consists of all of Pledgor’s right, title and interest in and to all of
Pledgor’s assets (except as otherwise provided below), including, without limitation, Pledgor’s
right, title and interest in and to the following personal property:

     All goods, Accounts, (as defined below) (including health-care receivables), Equipment (as
defined below), Inventory (as defined below), contract rights or rights to payment of money,
leases, license agreements, franchise agreements, General Intangibles (as defined below) (except as
provided below), commercial tort claims, documents, instruments (including any promissory notes),
chattel paper (whether tangible or electronic), cash, deposit accounts, fixtures, letters of credit
rights (whether or not the letter of credit is evidenced by a writing), securities, and all other
investment property, supporting obligations, and financial assets, whether now owned or hereafter
acquired, wherever located; and

     All Pledgor’s Books (as defined below), relating to the foregoing, and any and all claims,
rights and interests in any of the above and all substitutions for, additions, attachments,
accessories, accessions and improvements to and replacements, products, proceeds and insurance
proceeds of any or all of the foregoing.

     Notwithstanding the foregoing, the Collateral does not include any of the following, whether
now owned or hereafter acquired: any copyright rights, copyright applications, copyright
registrations and like protections in each work of authorship and derivative work, whether
published or unpublished, any patents, patent applications and like protections, including
improvements, divisions, continuations, renewals, reissues, extensions, and continuations-in-part
of the same, trademarks, service marks and, to the extent permitted under applicable law, any
applications therefor, whether registered or not, and the goodwill of the business of Pledgor
connected with and symbolized thereby, know-how, operating manuals, trade secret rights, rights to
unpatented inventions, and any claims for damage by way of any past, present, or future
infringement of any of the foregoing; provided, however, the Collateral shall
include all Accounts, license and royalty fees and other revenues, proceeds, or income arising out
of or relating to any of the foregoing.

     As used herein, “Equipment” shall have the following meaning, all “equipment” as defined in
the Code with such additions to such term as may hereafter be made, and includes without limitation
all machinery, fixtures, goods, vehicles (including motor vehicles and trailers), and any interest
in any of the foregoing.

     As used herein, “Inventory” shall have the following meaning, all “inventory” as defined in
the Code in effect on the date hereof with such additions to such term as may hereafter be made,
and includes without limitation all merchandise, raw materials, parts, supplies, packing and
shipping materials, work in process and finished products, including without limitation such
inventory as is temporarily out of Pledgor’s custody or possession or in transit and including any
returned goods and any documents of title representing any of the above.

     As used herein, “General Intangibles” shall have the following meaning, all “general
intangibles” as defined in the Code in effect on the date hereof with such additions to such term
as may hereafter be made, and includes without limitation, all copyright rights, copyright
applications, copyright registrations and like protections in each work of authorship and
derivative work, whether published or unpublished, any patents, trademarks, service marks and, to
the extent permitted under applicable law, any applications therefor, whether registered or not,
any trade secret rights, including any rights to unpatented inventions, payment intangibles,
royalties, contract rights, goodwill, franchise agreements, purchase orders, customer lists, route
lists, telephone numbers, domain names, claims, income and other tax refunds, security and other
deposits, options to purchase or sell real or personal property, rights in all litigation presently
or hereafter pending (whether in contract, tort or otherwise), insurance policies (including
without limitation key man, property damage, and business interruption insurance), payments of
insurance and rights to payment of any kind.

     As used herein, “Pledgor’s Books” shall have the following meaning, all Pledgor’s books and
records including ledgers, federal and state tax returns, records regarding Pledgor’s assets or
liabilities, the Collateral, business operations or financial condition, and all computer programs
or storage or any equipment containing such information.

     As used herein, “Code” shall mean the Uniform Commercial Code.

9

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