EXECUTIVE EMPLOYMENT AGREEMENT
THIS EMPLOYMENT AGREEMENT is made and entered into this 20th day of August, 2001, by Angiotech
Pharmaceuticals (U.S.), Inc., a Washington corporation (the "Company"), and David D. McMasters of 47014
S.E. 126th, North Bend, WA, 98045 (the "Employee").
The Employee has previously been employed by Angiotech Pharmaceuticals, Inc., a Canadian corporation
(Angiotech Canada), which is the parent corporation of the Company. Angiotech Canada has requested that the
Employee resign his employment with it and commence employment with the Company.
The Company desires to retain the services of the Employee in the capacity stated herein, and the Employee is
willing to be employed by the Company in such capacity, on the terms and subject to the conditions set forth in
this Agreement. Accordingly, in consideration of the mutual covenants contained herein, the parties agree as
1. POSITIONS AND DUTIES.
1.1 TITLE. The Company hereby agrees to employ the Employee, and the Employee agrees to serve the
Company as its General Counsel and Vice President, Intellectual Property, subject to the terms and conditions
set forth in this Agreement.
1.2 DUTIES. The Employee shall report directly to the Chief Executive Officer or President of the Company or
his designee(s) and perform those duties which are customary with the position of General Counsel and Vice
President, Intellectual Property, together with such additional duties as may be established by the Company's
Chairman, Chief Executive Officer or President. The Company in its sole discretion may alter the Employee's job
title and/or duties. The Employee shall devote all of his business time, energy, and skill to the affairs of the
Company and shall discharge his duties honestly, faithfully and to the best of his ability.
1.3 BOARD MEMBERSHIP. If and to the extent the Employee is requested to serve on the Board of Directors
of the Company, and/or on the Board of Directors or as an