EXHIBIT 10.17
REIMBURSEMENT AGREEMENT
This Reimbursement Agreement (the
“Agreement”) is made and entered into effective as of
September 1, 2005 (the “Effective Date”), by and among
JBS Consulting, LLC, a Delaware limited liability company
(“JBS”), Dr. John B. Simpson, an individual
(“Simpson”) and Foxhollow Technologies, Inc., a
Delaware corporation (“FTI”), and is made and entered
into with reference to the following facts and
objectives:
RECITALS
A. WHEREAS, JBS and FTI have entered
into a Time Sharing Agreement with respect to that certain aircraft
identified as a 2001 Dassault Falcon 900, Serial Number 189, U.S.
Registration Number N144FH, (the “Aircraft”);
and
B. WHEREAS, JBS will on occasion
have its principal on board the Aircraft, and employees of FTI on
board the Aircraft, in connection with FTI business; and
C. WHEREAS, JBS acknowledges that
FTI’s policy for reimbursement of transportation expenses for
its officers, directors, and employees is limited to first class or
coach fare equivalent for business related flights.
NOW, THEREFORE, for and in
consideration of the mutual promises, covenants and conditions
herein set forth, JBS and FTI agree as follows:
1. Reimbursement by JBS and/or
Simpson . JBS and/or Simpson agrees to reimburse FTI for
all costs and expenses incurred by FTI under the Time Sharing
Agreement, except for the cost of a first class fare equivalent
commercial airline ticket, for all flights when Simpson is aboard
the Aircraft in connection with FTI business. JBS and
