JOINT VENTURE AGREEMENT



                                       OF



                          OWENS-BRIGAM MEDICAL COMPANY



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ARTICLE I    Name and Principal Place of Business..........................................   1

     Section 1.1.   Formation and Agreement................................................   1

     Section 1.2.   Name...................................................................   1

     Section 1.3.   Principal Place of Business............................................   1

     Section 1.4.   Filing of Documents....................................................   1



ARTICLE II   Purposes of the Business......................................................   1



ARTICLE III  Term of the Joint Venture.....................................................   2



ARTICLE IV   Accounting Method.............................................................   2



ARTICLE V    Capital Contributions.........................................................   2

     Section 5.1.   Initial Capital Contributions..........................................   2

     Section 5.2.   Calls for Additional Capital...........................................   2

             Section 5.2.1.  Contribution Upon Transition to Self-Manufacturing............   2

             Section 5.2.2.  Subsequent Contributions......................................   3

             Section 5.2.3.  Repayment of Loans and Notes..................................   3



ARTICLE VI   Capital Accounts; Drawing Accounts............................................   3

     Section 6.1.   Capital Accounts.......................................................   4

     Section 6.2.   Ratios of Capital Accounts.............................................   4

     Section 6.3.   Distributions of Capital...............................................   3

     Section 6.4.   Drawing Accounts.......................................................   4

     Section 6.5.   Balances in Drawing Accounts...........................................   4

     Section 6.6.   Distributions Out of Drawing Accounts..................................   4

     Section 6.7.   Capital Accounts.......................................................   4



ARTICLE VII       Profit or Loss...........................................................   5

     Section 7.1.   Allocation.............................................................   5

     Section 7.2.   Special Allocation.....................................................   5

     Section 7.3.   Adjustment for Transfer or Liquidation.................................   5

     Section 7.4.   Proration of Profit or Loss............................................   5



ARTICLE VIII      Administrative Provisions................................................   5

     Section 8.1.   Voting.................................................................   5

     Section 8.2.   Time Devoted to the Company............................................   6

     Section 8.3.   Partners' General Management Authority.................................   6

     Section 8.4    Restrictions on Partners...............................................   6

     Section 8.5.   Meetings...............................................................   7

     Section 8.6.   Managing Partner.......................................................   7

     Section 8.7.   General Manager........................................................   8

             Section 8.7.1.   General......................................................   8

             Section 8.7.2.   Duties of the General Manager................................   8



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     Section 8.8.   Indemnification........................................................   9

             Section 8.8.1.   Indemnification of Managing Partner..........................   9

             Section 8.8.2.   Indemnification of General Manager and Employees.............   9

     Section 8.9.   Confidentiality........................................................  10



ARTICLE IX   Withdrawal, Death, Dissolution of a Partner; Transfer,

             Hypothecation of Interest in Company..........................................  10

     Section 9.1.   Prohibition Against Voluntary Withdrawal...............................  10

     Section 9.2.   Prohibition Against Transfers of Interests in Company..................  10

     Section 9.3.   Prohibition Against Encumbrances of Interests in Company...............  10

     Section 9.4.   Violation..............................................................  11

     Section 9.5.   Effect of Withdrawal, Death or Dissolution.............................  11

     Section 9.6.   Continuation of the Company............................................  11



ARTICLE X    Permitted Transfers of Interest in the Company................................  11

     Section 10.1.  General................................................................  11

     Section 10.2.  Definitions............................................................  11

     Section 10.3.  First Option...........................................................  12

     Section 10.4.  Second Option..........................................................  12

     Section 10.5.  Transfer on Exercise of Option.........................................  12

     Section 10.6.  Transfer on Expiration or Termination of Option........................  12

     Section 10.7.  Exercise...............................................................  13

     Section 10.8.  Waiver.................................................................  13

     Section 10.9.  Failure to Timely Exercise.............................................  13

     Section 10.10. Intra-Group Transfers..................................................  13

     Section 10.11. Rights of Assignee.....................................................  13



ARTICLE XI   Dissolution...................................................................  14

     Section 11.1.  Vote Required for Voluntary Dissolution................................  14

     Section 11.2.  Involuntary Dissolution................................................  14

     Section 11.3.  Debit Drawing Account Balance..........................................  14

     Section 11.4.  Winding up the Company.................................................  14

     Section 11.5.  Gains or Losses in Winding Up..........................................  15



ARTICLE XII      Waiver of Right to Court Decree of Dissolution............................  15



ARTICLE XIII     Waiver of Rights for Inventory and Appraisal..............................  15



ARTICLE XIV      Remedies Upon Default.....................................................  16

     Section 14.1.  Events of Default......................................................  16

     Section 14.2.  Remedy on Default......................................................  17

             Section 14.2.1.  Termination or Specific Performance..........................  17

             Section 14.2.2.  Termination Process..........................................  17

             Section 14.2.3.  Waiver.......................................................  18



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             Section 14.2.4.  Fair Market Value............................................  18



ARTICLE XV       Deadlock and Impasse......................................................  19

     Section 15.1.  Deadlock...............................................................  19

     Section 15.2.  Resolution of Deadlock.................................................  19

     Section 15.3.  Declaration of Impasse.................................................  19

     Section 15.4.  Final Impasse..........................................................  19



ARTICLE XVI      Exclusive Dealing.........................................................  20

     Section 16.1.  Competing Products.....................................................  20

     Section 16.2.  Business Opportunities.................................................  20



ARTICLE XVII     Transfer of Assets........................................................  21

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