Document:

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                                                                    EXHIBIT 10.1

                                    AMENDMENT
                                       TO
                           LOAN AND SECURITY AGREEMENT

THIS AMENDMENT to Loan and Security Agreement (this "Amendment") is entered as
of February 15, 2007 by and between Silicon Valley Bank ("Bank") and ATS
Medical, Inc., a Minnesota corporation (the "Borrower") whose address is 3905
Annapolis Lane, Suite 105, Minneapolis, Minnesota 55447.

                                    RECITALS

     A. Bank and Borrower have entered into that certain Loan and Security
Agreement dated as of July 28, 2004 (as amended, modified, supplemented or
restated from time to time, the "Loan Agreement").

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

     C. Borrower has requested that Bank amend the Loan Agreement to terminate
the Committed Revolving Line, amend the financial covenants, and make certain
other revisions to the Loan Agreement.

     D. Bank has agreed 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 Amendment
shall have the meanings given to them in the Loan Agreement.

     2. AMENDMENTS TO LOAN AGREEMENT.

          2.1 TERMINATION OF COMMITTED REVOLVING LINE. Notwithstanding Section
2.1.1 of the Loan Agreement, the Committed Revolving Line is terminated
effective as of the date hereof, and on such date Borrower shall pay to Bank all
outstanding Revolving Advances and accrued interest on Revolving Advances, and
from such date forward no further Revolving Advances shall be made.

          2.2 MAXIMUM AGGREGATE ADVANCES. Section 2.1.7 of the Loan Agreement,
which reads as follows is hereby deleted in its entirety:

               SECTION 2.1.7 MAXIMUM AGGREGATE ADVANCES. Not-withstanding
               anything herein to the contrary, in no event shall the aggregate
               amount of outstanding Revolving Advances, Equipment Advances and
               New Equipment Advances exceed $8,600,000

          2.3 TERMINATION OF UNUSED LINE FEE. The Unused Line Fee provided for
in Section 2.4(c) of the Loan Agreement shall be eliminated with respect to
future fiscal quarters. For

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purposes of the Unused Line Fee with respect to the current fiscal quarter, the
date hereof shall be deemed the end of the term of the Committed Revolving Line.

          2.4 CHANGE TO FINANCIAL COVENANTS. Section 6.7 of the Loan Agreement
reads as follows:

               Borrower will maintain at all times, on a consolidated basis:

               (i) LIQUIDITY RATIO. A ratio of (y) unrestricted cash (and
               equivalents) of Borrower on deposit with Bank plus Borrower's
               Eligible Accounts, (z) divided by Current Liabilities, of equal
               to or greater than 2.0 to 1.00.

               (ii) TANGIBLE NET WORTH. A Tangible Net Worth, at the end of each
               month, of at least $40,000,000.

Said Section 6.7 is hereby amended effective December 31, 2006 to read as
follows:

               Borrower will maintain at all times, on a consolidated basis:

               (i) LIQUIDITY RATIO. A ratio of (y) the sum of unrestricted cash
               (and equivalents) of Borrower on deposit with Bank plus
               Borrower's accounts receivable arising from the sale or lease of
               goods, or provision of services, in the ordinary course of
               business, (z) divided by the sum of Current Liabilities plus
               Indebtedness of Borrower to Bank for borrowed money, of equal to
               or greater than 1.60 to 1.00.

     3. LIMITATION OF AMENDMENTS.

          3.1 The amendments set forth in SECTION 2, above, 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 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.

          3.2 This Amendment 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 and shall remain in full force and
effect.

     4. REPRESENTATIONS AND WARRANTIES. To induce Bank to enter into this
Amendment, Borrower hereby represents and warrants to Bank as follows:

          4.1 Immediately after giving effect to this Amendment (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;

          4.2 Borrower has the power and authority to execute and deliver this
Amendment and to perform its obligations under the Loan Agreement, as amended by
this Amendment;

          4.3 The organizational documents of Borrower delivered to Bank on the
Effective Date remain true, accurate and complete and have not been amended,
supplemented or restated and are and continue to be in full force and effect;

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          4.4 The execution and delivery by Borrower of this Amendment and the
performance by Borrower of its obligations under the Loan Agreement, as amended
by this Amendment, have been duly authorized;

          4.5 The execution and delivery by Borrower of this Amendment and the
performance by Borrower of its obligations under the Loan Agreement, as amended
by this Amendment, 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;

          4.6 The execution and delivery by Borrower of this Amendment and the
performance by Borrower of its obligations under the Loan Agreement, as amended
by this Amendment, 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 as already has been obtained or made; and

          4.7 This Amendment 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.

     5. COUNTERPARTS. This Amendment 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.

     6. FEES AND EXPENSES. In consideration for Bank entering into this
Amendment, Borrower shall concurrently pay Bank a fee in the amount of $2,000,
which fee is deemed fully earned on the date hereof, and shall be non-refundable
and in addition to all interest and other fees payable to Bank under the Loan
Documents. Bank is authorized to charge said fee to Borrower's loan account.
Without limitation on the terms of the Loan Documents, Borrower agrees to
reimburse Bank for all its costs and expenses (including reasonable attorneys'
fees) incurred in connection with this Amendment. Bank is authorized to charge
said fees, costs and expenses to Borrower's loan account or any of Borrower's
deposit accounts maintained with Bank.

                            [Signature page follows.]

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     IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed and delivered as of the date first written above.

BANK                                    BORROWER

Silicon Valley Bank                     ATS Medical, Inc.

By: /s/ R. Jay McNeil                   By: /s/ Michael D. Dale
    ---------------------------------       ------------------------------------
Name: R. Jay McNeil                     Name: Michael D. Dale
Title: Senior Relationship Manager      Title: Chief Executive Officerexv10w13

 

Exhibit 10.13

SCS TRANSPORTATION, INC.

2002 SUBSTITUTE STOCK OPTION PLAN

	1.	 	Purpose.

     The SCS Transportation, Inc. 2002 Substitute Stock Option Plan is designed to substitute
options to purchase shares of Company stock for options to purchase shares of stock of Yellow
Corporation granted by Yellow Corporation to individuals who are employees of the Company or of a
Subsidiary after the spin-off of the Company from Yellow Corporation and that are outstanding on
the effective date of the spin-off.

	2.	 	Definitions.

     When used herein, the following terms shall have the meaning set forth below:

	 	2.1	 	“Board” means the Board of Directors of the Company.
	 
	 	2.2	 	“Committee” means the Board’s Compensation Committee.
	 
	 	2.3	 	“Company” means SCS Transportation, Inc., a Delaware corporation.
	 
	 	2.4	 	“Distribution Agreement” means the Master Separation and Distribution Agreement
between Yellow Corporation and the Company.
	 
	 	2.5	 	“Yellow Option” means an option to purchase stock of Yellow Corporation granted
by Yellow Corporation to a Participant.
	 
	 	2.6	 	“Participant” means a person eligible to participate in the Plan.
	 
	 	2.7	 	“Plan” means this SCS Transportation, Inc. 2002 Substitute Stock Option Plan.
	 
	 	2.8	 	“Shares” means shares of the Company’s common stock, par value $.001.
	 
	 	2.9	 	“Subsidiary” means any business, whether or not incorporated, in which the
Company owns directly or indirectly not less than 50% of the equity interest.

	3.	 	Administration of the Plan.

	 	3.1	 	The Plan shall be administered by the Committee.

	 	3.2	 	The Committee shall have plenary authority, subject to the provisions of the
Plan, to determine the manner in which options to purchase Shares will be substituted
for Yellow Options. The Committee’s actions in substituting options to purchase Shares
for Yellow Options shall be conclusive on all persons.

	 	3.3	 	The Committee shall have the sole responsibility for construing and
interpreting the Plan, for establishing and amending such rules and regulations as it
deems necessary or desirable for the proper administration of the Plan, and for
resolving all questions arising under the Plan. Any decision or action taken by the
Committee arising out of

 

 

	 	 	 	or in connection with the construction, administration, interpretation and effect of
the Plan and of its rules and regulations shall, to the extent permitted by law, be
within its absolute discretion, except as otherwise specifically provided herein,
and shall be conclusive and binding.

	4.	 	Eligibility.

     Only employees of the Company or a Subsidiary who hold Yellow Options as of the effective date
of the Plan shall be eligible to participate in the Plan.

	5.	 	Authorized Shares and Substitution for Yellow Options.

     The number of Shares authorized under the Plan shall be equal to the number of Shares covered
by options of SCS outstanding as of the effective date of this Plan, as calculated pursuant to the
Distribution Agreement. Each Yellow Option outstanding on the effective date of the spin-off of
the Company from Yellow Corporation shall be converted into an option to purchase Shares, all as
set forth in the Distribution Agreement. No additional options to purchase Shares shall be granted
under the Plan and no additional Shares shall be authorized (except to the extent set forth in
Section 9).

	6.	 	Effective Date of the Plan and Duration.

     The Plan shall become effective on the distribution date of the spin-off of the Company from
Yellow Corporation.

	7.	 	Stockholder Status.

     No person shall have any rights as a stockholder of the Company by virtue of the substitution
of options to purchase Shares for Yellow Options except with respect to Shares actually issued to
that person.

	8.	 	Termination, Suspension, Modification or Amendment of Plan.

     The Board may at any time terminate, suspend, modify or amend the Plan.

	9.	 	Adjustment for Changes in Capitalization.

     In the event that the Board shall determine that any recapitalization, reorganization, merger,
consolidation, spin-off, combination, repurchase or share exchange, or other similar corporate
transaction or event affects the Shares such that an adjustment is appropriate in order to prevent
dilution or enlargement of rights of Participants, then the Board shall make such adjustments in
the number and kind of Shares under an option and number of Shares authorized under this Plan.

	10.	 	Taxes.

     The Company is authorized to pay or withhold the amount of any tax attributable to any Shares
distributable under any options to purchase Shares issued hereunder, and the Company may defer
making distribution of any Shares if any such tax, charge or assessment may be pending until
indemnification to its satisfaction. This authority shall include authority to withhold or receive

2

 

Shares and to make cash payments in respect thereof in satisfaction of an individual’s tax
obligations.

	11.	 	Tenure.

     A Participant’s right, if any, to continue in the employ of the Company or a Subsidiary shall
not be affected by the fact that he or she is a Participant under the Plan.

	12.	 	Governing Law.

     The Plan and all determinations made and actions taken pursuant hereto shall be governed by
and construed in accordance with the laws of the State of Delaware without regard to the principles
of conflicts of law which might otherwise apply.

3

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