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EXHIBIT 10.27**
September 26, 1996
To: Xxxxx X. X'Xxxxx
President, Europe
Xxxxxxx & Xxxxxxx Medical NV/SA
Waterloo Office Park
Drive Richelle 000 X
0000 Xxxxxxxx, Xxxxxxx
Re: Extension of contract
This document represents an addendum to the Cordis-Cardiometrics Distribution
Agreement, signed April 1, 1995, and extended on April 22, 1996. This
distribution agreement which is now in effect between Cardiometrics, Inc., a
Delaware Corporation and Cordis/Xxxxxxx & Xxxxxxx Medical NV/SA will be extended
through December 31, 1997 and it will include the possibility of adding **,
effective January 1, 1997 (see below for possible start dates).
This extension requires the delivery of minimum quarterly non-cancelable P.O.'s
by Xxxxxx/Xxxxxxx & Xxxxxxx to Cardiometrics to maintain exclusive distribution
rights for the "Products" in the "Territories" as agreed to in the distribution
agreement amended by this document. For future years 1998 and beyond, minimum
purchase commitments to maintain exclusive distribution will be negotiated by
September 30th of the preceding year. Following is the agreed to minimum
purchase commitment for 1997 (quarterly minimum non-cancelable P.O. requirements
in units):
Products Jan Feb Mar April May June July Aug Sept Oct Nov Dec Total
FloWire ** ** ** ** ** ** ** ** ** ** ** ** **
*FloMap ** ** ** ** ** ** ** ** ** ** ** ** **
Following are requirements for the SmartWire and SmartMap sales to end-users to
deplete Xxxxx stock. These do not include commitments for new purchases from
Cardiometrics. This inventory should therefore serve the purpose of market
development, with future additional purchases if necessary:
Products Jan Feb Mar April May June July Aug Sept Oct Nov Dec Total
SmartWire ** ** ** ** ** ** ** ** ** ** ** ** **
SmartMap ** ** ** ** ** ** ** ** ** ** ** ** **
*commitments can be changed to FloMap II as needed for equal dollar value.
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Territories include the following areas:
** Spain
France Scandinavia
** Africa
** Middle East (excluding Turkey,
United Kingdom Israel and Greece)
Transfer prices for FloWire at ** each for all models and sizes and FloMap at
** each. FloMap II price is ** each.
The January 1, 1997 start date for the additional countries ** is dependent on
receiving P.O.'s by September 30, 1996 and by December 31, 1996 as follows:
By September 30, 1996 By December 31, 1996
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** FloWire ** **
FloMap ** **
SmartWire ** **
SmartMap ** **
** FloWire ** **
FloMap ** **
** FloWire ** **
FloMap ** **
Totals FloWire ** **
FloMap ** **
SmartWire ** **
SmartMap ** **
This amendment is agreed to and accepted by:
/s/ Xxxxxxx X. Xxxxx /s/ Xxxxx X. X'Xxxxx
-------------------------------- ------------------------------- --------------------------------
Xxxxxxx Xxxxx, Ph.D. Xxxxxxx X. Xxxxx Xxxxx X. X'Xxxxx
President and CEO Vice President President, Europe
Cardiometrics, Inc. International Sales and Cordis/
Operations Xxxxxxx & Xxxxxxx
Cardiometrics, Inc. Medical NV/SA
Date: Date: 9/27/96 Date: 9/27/96
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** Confidential treatment requested; omitted portion has been filed separately
with the Commission
