ADDENDUM
EXHIBIT 10.21
ADDENDUM
This
ADDENDUM is made and entered into this
24th day of January, 2006, and amends the Distributor
Agreement (“Agreement”) entered into by and between Medtronic, Inc. (“Medtronic”) and VNUS Medical
Technologies, Inc. (“VNUS”) effective January 24, 2006.
The parties hereby agree to amend the Agreement as hereinafter set forth.
Section XIII. **** Trial shall be added to the Agreement as follows:
XIII. **** Trial. Medtronic shall complete the **** Trial (the “Trial”) currently underway by
collecting and validating the long term data for submission of the Trial results in the form of a
paper to the **** or a peer-reviewed publication of substantially similar esteem. Medtronic and
VNUS hereby agree to share equally the total cost of completion of the Trial, which is estimated to
be ****, plus or minus ****.
It is agreed by the parties that if the costs of completing the Trial exceed or are lower than the
forecasted amount of $****, Medtronic will adjust the last payment required to be made by VNUS;
provided, however, in no case shall VNUS be responsible for an amount greater than **** of the
forecasted amount; i.e., no more than ****.
With reasonable notice to Medtronic and subject to patient consent, VNUS shall have
the right to audit the clinical data and review the process of completing the Trial. VNUS may
opt-out of this Article 13 and compensate Medtronic half of the costs actually incurred in
completing the Trial to the point of opting-out.
VNUS shall have the right but not an obligation to review financial data related to the completion
of the Trial.
Except to the extent provided above, the remaining terms and conditions of the Agreement shall
remain in full force and effect.
MEDTRONIC, INC.
|
VNUS MEDICAL TECHNOLOGIES, INC. | ||
/s/
Xxxxxxx X. Xxxxx |
/s/ X. XxXxxx | ||
Name
|
Name: | ||
Vice
President & General Manager RST |
VP, Bus. Dev. & Mfg | ||
Title
|
Title: | ||
January 24,
2006 |
1/25/06 | ||
Date
|
Date: | ||
****Certain confidential information contained in this document, marked with 4 asterisks,
has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
of the Securities Exchange Act of 1934, as amended.