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EXHIBIT 10.1
DEVELOPMENT AND LICENSE AMENDMENT AGREEMENT
This Development and License Amendment
Agreement is entered into as of 22 June,
2005, by and between ATS MEDICAL, INC. and
ERYSAVE AB
Witness that, WHEREAS
A. ATS Medical, Inc. and
ErySave AB entered into a Development and License
Agreement dated
as of 26th April, 2004.
B. The parties have agreed to
amend the Development and License Agreement as
set out
herein.
In consideration of the mutual promises and
agreements of the parties set out in
this Agreement, the receipt and sufficiency
of which is acknowledged by the
parties, THE PARTIES AGREE as follows:
1. DEFINITIONS
1.1 Defined terms used in the
Development and License Agreement shall have the
meaning assigned
to them therein when used in this Agreement, with the
following
exceptions and additions:
1.1.1 Agreement means this amending
agreement and all annexes and exhibits
hereto.
1.1.2 Development and License Agreement
means the Development and License
Agreement
entered into as of 26th April, 2004, by and between ATS
Medical,
Inc. and ErySave
AB.
2. AMENDMENT
2.1 Paragraph 2.5(b) of the
Development and License Agreement is deleted and
replaced with
the following:
2.5(b) Completion of a prototype of a working Disposable Disk -
SEK
2,030,000. At a minimum the Disposable
