EXHIBIT 10.5
MUTUAL AND GENERAL RELEASE
This Mutual and General Release is entered into as of the 9th day of
November, 1998 by and among Vascular Solutions, Inc., a Minnesota corporation
("VSI"), X. Xxxxx Medical Inc. ("Xxxxx"), and Xxxx Xxxxxxxx, M.D. ("Gershony").
In exchange for the payment of Forty Thousand Dollars ($40,000) from VSI to
Xxxxx, the receipt of which is hereby acknowledged, Xxxxx hereby releases,
acquits and forever discharges Gershony, VSI, and their respective successors
and assigns from any and all manner of action or actions, suits, claims,
demands, judgments, levies of execution, whether direct or indirect, liquidated
or unliquidated, fixed or contingent, which Xxxxx ever had, has or ever can,
shall or may have or claim to have upon or by reason of any manner, fact or
thing occurring prior to the date of signing this release.
VSI and Gershony, for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, for themselves and their successors
and assigns, hereby release, acquit and forever discharge Xxxxx and its
successors and assigns from any and all manner of action or actions, suits,
claims, demands, judgments, levies of execution, whether direct or indirect,
liquidated or unliquidated, fixed or contingent, which Xxxxx ever had, has or
ever can, shall or may have or claim to have upon or by reason of any manner,
fact or thing occurring prior to the date of signing this release.
It is hereby specifically understood and agreed that this release is in
full and final compromise, settlement and satisfaction of all claims arising
under the Development and License Agreement dated May 1, 1993 between Xxxxx and
Gershony and the Termination Agreement dated February 1, 1996 between Xxxxx and
Gershony.
Each of the parties to this Release represents that they have had the
opportunity to consult with legal counsel in connection with this matter and
this Release.
IN WITNESS WHEREOF, the parties hereto have executed this Release, each
intending to be legally bound thereby on the date listed above.
VASCULAR SOLUTIONS, INC. X. XXXXX MEDICAL, INC.
By: /s/ Xxxxxx X. Xxxx By: /s/ Xxxxxx Xxxxxx
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Its: CEO Its: Dir. Of International Sales
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/s/ Xxxx Xxxxxxxx
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Xxxx Xxxxxxxx, M.D.
