Differential Sanding Reduces Risk of Adverse Events. The Diamondback Systems are designed to differentiate between hard plaque and soft compliant arterial tissue. Arteries are composed of three tissue layers. The diamond grit coated offset crown at the working end of the devices engages and removes plaque from the artery wall with minimal likelihood of penetrating or damaging the fragile, inner layer of the arterial wall because soft, compliant tissue flexes away from the crown. Furthermore, the Diamondback Systems have rarely penetrated even the middle or outer layers of the arterys wall. The Diamondback 360s perforation rate was 2.4% during our pivotal OASIS trial. Analysis by an independent pathology laboratory of more than 434 consecutive cross sections of porcine arteries treated with the Diamondback 360 revealed there was minimal to no damage, on average, to the middle layer, which is typically associated with restenosis. In addition, the safety profile of the Diamondback 360 was found to be non-inferior to that of angioplasty, which is often considered the safest of interventional methods. This was demonstrated in our OASIS trial, which had a low 4.8% rate of device-related serious adverse events, or SAEs
EX-10.34 3 c60486exv10w34.htm EX-10.34 exv10w34
Exhibit 10.34
DIRECTOR COMPENSATION ARRANGEMENTS
For the twelve month period ending June 30, 2011, each non-employee director of Cardiovascular Systems, Inc. will receive the following compensation:
| • | Retainers of $40,000 for service as a board member; $20,000 for service as a chairman of a board committee; $10,000 for service as a member of a board committee; and $1,200 per board or committee meeting attended in the event that more than 12 of such meetings are held during the period. The Company may pay these retainers in cash or permit directors to elect to receive the value of the retainers in the Company’s common stock. | ||
| • | A restricted stock unit award with a value of $100,000 payable, in the Company’s discretion, in cash or in shares of the Company’s common stock. The Company may provide for the restricted stock units, when paid in cash, to be made in a lump sum on the six month anniversary of the termination of the director’s board membership. |
In addition, the Chairman of the Board receives an annual retainer of $40,000, which may, at the election of the Chairman, be paid in shares of common stock based on the fair market value of the Company’s common stock on the date of payment. The non-employee members of the Board are also reimbursed for travel, lodging and other reasonable expenses incurred in attending board or committee meetings.
