SETTLEMENT AND LICENSE AGREEMENT BETWEEN THE REGISTRANT, ARTHROCARE CORPORATION CAYMAN ISLANDS AND MARCTEC, LLC EFFECTIVE JANUARY 3, 2007Settlement and License Agreement • February 27th, 2007 • Arthrocare Corp • Electromedical & electrotherapeutic apparatus • New York
This Settlement and License Agreement (“Agreement”) is entered into as of January 3, 2007 (“Execution Date”), by and between ArthroCare Corporation, a Delaware corporation (“ArthroCare US”) and ArthroCare Corporation Cayman Islands, a corporation organized under the laws of the Cayman Islands (“ArthroCare Caymans”) (ArthroCare US and ArthroCare Caymans collectively referred to as “ArthroCare”), on the one hand, and MarcTec LLC, an Illinois limited liability company (formerly known as Bonutti IP LLC, an Illinois limited liability company) (“MarcTec” or “Licensor”) and, solely for purposes of Sections 5.2, 8.3, 11 (but only with respect to disputes regarding, based upon, arising from or relating to Dr. Bonutti’s rights, obligations and/or duties under Sections 5.2, 8.3, 11 and 12 of this Agreement (including, without limitation, any alleged breach by Dr. Bonutti of Sections 5.2, 8.3, 11 and 12 of this Agreement)) and 12 hereof, Dr. Peter M. Bonutti, an individual U.S. citizen (“Dr. Bonut
