Document:

First Amendment to Award Agreement

 Exhibit 10.3 
 CRYOLIFE, INC. 
 2004 EMPLOYEE STOCK INCENTIVE PLAN 

FIRST AMENDMENT TO 
 AWARD AGREEMENT 
 THIS FIRST AMENDMENT TO AWARD AGREEMENT (this
“Amendment”) is entered into as of the 24th day of May, 2011 by and between CryoLife, Inc., a Florida corporation (the “Company”) and D. Ashley Lee (“Employee”). 

WITNESSETH 
 WHEREAS, the Company and Employee entered into that certain Award Agreement dated as of February 21, 2006 (the “Award Agreement”) pursuant to the 2004 Employee Stock Incentive Plan
(the “Plan”); 
 WHEREAS, Subsection 2.4(d) of the Plan, as amended, states that, if the Award Agreement so provides,
the Exercise Price may be paid via a cashless net exercise in which the optionee provides notice of intent to exercise and the Company withholds shares in order to pay the exercise price; and 

WHEREAS, the addition of a net exercise feature to an option represents a modification, thereby effectively creating the grant of a new
option, and, accordingly, any option that is subject to this Award Agreement that is an incentive stock option may lose its status as such as a result of this Amendment; 
 NOW, THEREFORE, for and in consideration of the mutual covenants and agreements contained herein and other valuable consideration, the receipt of which is hereby acknowledged, the Company and Employee
hereby agree as follows: 
 1. The Award Agreement shall be amended so that Paragraph 3 and Paragraph 11 are deleted in their
entirety and replaced with the following: 
 3. Method of Exercise. The option shall be exercised by written notice directed to
the Company, at the Company’s principal executive office, and except as set forth below, must be accompanied by payment of the option price for the number of Option Shares purchased in accordance with the Plan’s requirements. The Option
Exercise Price for the number of Option Shares purchased may be payable in cash or by tendering (by actual delivery of shares) shares of the Company’s common stock in accordance with the Plan. To the extent permitted by applicable law, you may
elect to pay the Option Exercise Price for the number of Option Shares purchased by irrevocably authorizing a third party to sell shares of the Company’s common stock acquired upon exercise of the Option Shares and remitting to the Company a
sufficient portion of the sale 

 
proceeds as payment of the entire Option Exercise Price for the number of Option Shares purchased, including any tax withholding resulting from such exercise. You may also elect to make payment
of the Option Exercise Price via a cashless net exercise by providing notice to the Company of your intent to do. If you choose this method of payment, the Company will withhold shares that would otherwise be delivered to you upon exercise in order
to pay the Option Exercise Price and any tax withholding resulting from such exercise. The Company shall make delivery of such shares in accordance with the Plan provided that if any law or regulation requires the Company to take any action with
respect to the shares specified in such notice before the issuance thereof, then the date of delivery of such shares shall be extended for the period necessary to take such action. 

11. Payment: Except as set forth below, the Option Exercise Price shall be paid in cash in U.S. Dollars at the time the Option is
exercised or in shares of Common Stock of the Company held by the employee for at least six months and having an aggregate value equal to the Option Exercise Price. If the Option Exercise Price is paid by transfer of shares of Common Stock of the
Company then the value of such shares will be the fair market value as of the day the shares are tendered, which is the closing sale price of the Stock on that day on the New York Stock Exchange. The Option Exercise Price may be paid by a
combination of cash and Common Stock. Notwithstanding the foregoing, to the extent permitted by applicable law, Employee may elect to pay the Option Exercise Price by authorizing a third party to sell shares of stock (or a sufficient portion of the
shares) acquired upon exercise of the Option and remit to the Company a sufficient portion of the sale proceeds to pay the entire Option Exercise Price and any tax withholding resulting from such exercise. Employee may also elect to make payment of
the Option Exercise Price via a cashless net exercise by providing notice to the Company of the intent to do. If Employee chooses this method of payment, the Company will withhold shares that would otherwise be delivered to Employee upon exercise in
order to pay the Option Exercise Price and any tax withholding resulting from such exercise. The value of such shares will be the fair market value as of the day the option is exercised, which is the closing sale price of the Stock on that day on
the New York Stock Exchange, and having an aggregate fair market value equal to the aggregate Option Exercise Price. 
 2. All
other terms and conditions of the Award Agreement shall remain in full force and effect as therein contained. 
 [Signatures on
Following Page] 

  
 2 

 IN WITNESS WHEREOF, the Company has caused this Amendment to be executed by a duly
authorized officer of the Company and Employee has executed this agreement as of the day and year first written above. 
  

							
	CRYOLIFE, INC.	 		 	EMPLOYEE
				
	By:	 	 /s/ Steven G. Anderson
	 		 	 /s/ D. Ashley Lee

	Name:	 	Steven G. Anderson	 		 	D. Ashley Lee
	Title:	 	President and CEO	 		 	
			
	Date: 5/24/11	 		 	Date: 5/24/11

  
 3Second Amendment to the CryoLife, Inc. 2004 Employee Stock Incentive Plan

 Exhibit 10.4 
 SECOND AMENDMENT TO 
 THE CRYOLIFE, INC. 

2004 EMPLOYEE STOCK INCENTIVE PLAN 
 Section 2.4 of the CryoLife, Inc. 2004 Employee Stock Incentive Plan is hereby amended by deleting it in its entirety and replacing it with the following: 

2.4 Payment of Option Exercise Price. The payment of the Exercise Price of an Option granted under this Section 2 shall be subject to the
following: 
 (a) Subject to the following provisions of this subsection 2.4, the full Exercise Price for shares of Stock
purchased upon the exercise of any Option shall be paid at the time of such exercise (except that, in the case of an exercise arrangement approved by the Committee and described in paragraph 2.4(c), payment may be made as soon as practicable after
the exercise), unless such Exercise Price is paid pursuant to subsection 2.4(d) below. 
 (b) Unless the Exercise Price is paid
pursuant to subsection 2.4(d) below, the Exercise Price shall be payable in cash or by tendering (by actual delivery of shares) shares of Stock that are acceptable to the Committee, have been held by the participant for at least six months, and were
valued at Fair Market Value as of the day the shares are tendered, or in any combination of cash or shares, as determined by the Committee. 
 (c) To the extent permitted by applicable law, a Participant may elect to pay the Exercise Price upon the exercise of an Option by irrevocably authorizing a third party to sell shares of Stock (or a
sufficient portion of the shares) acquired upon exercise of the Option and remit to the Company a sufficient portion of the sale proceeds to pay the entire Exercise Price and any tax withholding resulting from such exercise. 

(d) If the Award Agreement so provides, the Exercise Price may be paid via a cashless net exercise in which the Participant provides
notice of intent to exercise and pay the Exercise Price pursuant to this subsection 2.4(d) and the Company withholds shares of Stock, valued at Fair Market Value as of the day the Option is exercised, and having an aggregate Fair Market Value equal
to the aggregate Option Exercise Price. 
 IN WITNESS WHEREOF, the Company has caused this Second Amendment to be executed
effective as of the 24th day of May, 2011. 
  

					
	CRYOLIFE, INC.
		
	By:	 	 /s/ D. Ashley Lee

		 	Name:	 	D. Ashley Lee
		 	Title:	 	 Executive Vice President,

Chief Financial Officer and
 Chief Operating
OfficerSixth Amendment to the Credit Agreement

 Exhibit 10.5 
 SIXTH AMENDMENT TO CREDIT AGREEMENT, 
 PLEDGE AMENDMENT TO
GUARANTY AND SECURITY AGREEMENT 
 AND WAIVER 

THIS SIXTH AMENDMENT TO CREDIT AGREEMENT, PLEDGE AMENDMENT TO GUARANTY AND SECURITY AGREEMENT AND WAIVER (“Amendment”)
is entered into as of June 30, 2011, by and among CryoLife, Inc., a Florida corporation (“CrvoLife”), AuraZyme Pharmaceuticals, Inc., a Florida corporation (“AuraZyme”), CryoLife International, Inc., a Florida
corporation (“International”), Cardiogenesis Corporation, a Florida corporation (formerly known as CryoLife Acquisition Corporation, a Florida corporation) (“Cardiogenesis”) (CryoLife, AuraZyme, International and
Cardiogenesis are sometimes referred to herein together as the “Borrowers” and individually as a “Borrower”), CryoLife, as Borrower Representative, the other Credit Parties party hereto, General Electric Capital
Corporation, a Delaware corporation (the “Agent”), as administrative agent for the several financial institutions from time to time party to this Amendment (collectively, the “Lenders” and individually each a
“Lender”) and for itself as a Lender and L/C Issuer, and such Lenders. 
 RECITALS 

A. The Borrowers, the other Credit Parties signatory thereto, the Lenders signatory thereto from time to time and Agent are parties to
that certain Credit Agreement, dated as of March 27, 2008 (as amended, supplemented, revised, restated, replaced or otherwise modified, the “Credit Agreement”). Capitalized terms used in this Amendment without definition shall
have the meanings ascribed to such terms in the Credit Agreement and the Guaranty and Security Agreement, as applicable. 
 B.
The Borrowers, the other Grantors from time to time party thereto, and Agent, as Agent for the Secured Parties referred to therein, are parties to that certain Guaranty and Security Agreement, dated as of March 27, 2008 (as amended,
supplemented, revised, restated, replaced or otherwise modified, the “Guaranty and Security Agreement”). 
 C.
The Borrowers have requested that Lenders amend the Credit Agreement in certain respects and Lenders have agreed to so amend the Credit Agreement, subject to the terms and conditions hereof. 

NOW, THEREFORE, in consideration of the premises and the mutual covenants hereinafter contained, and intending to be legally bound, the
parties hereto agree as follows: 
 A. AMENDMENTS 

1. Amendment to Section 4.12 Section 4.12 of the Credit Agreement is amended by adding the following sentence to the end
of such Section: 

 Notwithstanding the foregoing, landlord, bailee or mortgagee waivers shall not be required
with respect to locations where hospitals and other clients of the Credit Parties store laser consoles which are rented by such hospitals or clients from a Credit Party. 
 2. Amendment to Section 5.4 Section 5.4 of the Credit Agreement is amended by deleting the word “and” at the end of clause (h), replacing the period at the end of clause
(i) with “; and”, and adding the following new clause (j) to such Section: 
 (j) Investments
by any Credit Party to or in ValveXchange, Inc., a Delaware corporation, consisting of (i) up to $3,500,000 of preferred Stock and (ii) advances, loans and extensions of credit at any time outstanding of up to $2,500,000. 

3. Amendment to Section 6.3 Section 6.3 of the Credit Agreement is amended by reducing from $20,000,000 to 17,500,000
the minimum Adjusted EBITDA requirement set forth therein for June 30, 2011; provided, that the requirement for each Fiscal Quarter thereafter shall remain unchanged at $20,000,000. 

4. Amendment to Section 11.1 Section 11.1 of the Credit Agreement is amended by replacing the definition of
“Revolving Termination Date” in its entirety with the following: 
 “Revolving Termination
Date” means the earlier to occur of: (a) August 31, 2011; and (b) the date on which the Aggregate Revolving Loan Commitment shall terminate in accordance with the provisions of this Agreement. 

B. PLEDGE AMENDMENT 
 Pursuant to Section 8.6 of the Guaranty and Security Agreement, Cardiogenesis hereby agrees that the information set forth in Annex 1 is hereby added to the information set forth in
Schedules 1 through 6 to the Guaranty and Security Agreement and that this Amendment may be attached to the Guaranty and Security Agreement and that the Pledged Collateral listed on Annex 1 to this Amendment shall be and
become part of the Collateral referred to in the Guaranty and Security Agreement and shall secure all Secured Obligations. 
 C.
WAIVER 
 The Agent and Lenders hereby waive the requirement set forth under Section 4.13(b) of the Credit Agreement
that the Credit Parties cause CGCP Corp., a Delaware corporation (“CGCP”) and Compleat, Inc., a California corporation (“Compleat”) to become Borrowers under the Credit Agreement, to cross-guaranty the Obligations
and to grant to the Agent, for the benefit of the Secured Parties, a security interest in all of CGCP’s and Compleat’s Property to secure such guaranty; provided, that no later than 60 days after the date hereof the Credit Parties shall
have caused CGCP and Compleat to be dissolved and evidence of the same shall have been delivered to the Agent. 

  
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 D. CONDITIONS TO EFFECTIVENESS 

Notwithstanding any other provision of this Amendment and without affecting in any manner the rights of the Lenders hereunder, it is
understood and agreed that this Amendment shall not become effective, and the Borrower shall have no rights under this Amendment, until Agent shall have received (a) duly executed signature pages to this Amendment from the Lenders, Borrowers,
L/C Issuer, Agent and each Credit Party and (b) an amendment fee in the amount of $10,000, and (c) a certificate of the secretary or other officer of each Credit Party in charge of maintaining books and records of such Credit Party
certifying as to (i) the names and signatures of each officer of such Credit Party authorized to execute and deliver any Loan Document, (ii) the Organization Documents of such Credit Party attached to such certificate are complete and
correct copies of such Organization Documents as in effect on the date of such certification and (iii) the resolutions of such Credit Party’s board of directors or other appropriate governing body approving and authorizing the execution,
delivery and performance of this Amendment. 
 E. REPRESENTATIONS 

Each Credit Party hereby represents and warrants to Lenders, L/C Issuer and Agent that: 

1. The execution, delivery and performance by such Credit Party of this Amendment (a) are within such Credit Party’s power;
(b) have been duly authorized by all necessary corporate, limited liability company or limited partnership action; (c) are not in contravention of any provision of such Credit Party’s certificate of incorporation or bylaws or other
organizational documents; (d) do not violate any law or regulation, or any order or decree of any Governmental Authority; (e) do not conflict with or result in the breach or termination of, constitute a default under or accelerate any
performance required by, any indenture, mortgage, deed of trust, lease, agreement or other instrument to which such Credit Party or any of its Subsidiaries is a party or by which such Credit Party or any such Subsidiary or any of their respective
property is bound; (0 do not result in the creation or imposition of any Lien upon any of the property of such Credit Party or any of its Subsidiaries other than those in favor of Agent, on behalf of itself and the Lenders, pursuant to the Loan
Documents; and (g) do not require the consent or approval of any Governmental Authority or any other Person. 
 2. This
Amendment has been duly executed and delivered for the benefit of or on behalf of each Credit Party and constitutes a legal, valid and binding obligation of each Credit Party, enforceable against such Credit Party in accordance with its terms except
as the enforceability hereof may be limited by bankruptcy, insolvency, reorganization, moratorium and other laws affecting creditors’ rights and remedies in general. 
 3. Both before and after giving effect to this Amendment, the representations and warranties contained in the Credit Agreement and the other Credit Documents are true and correct in all material respects
and no Default or Event of Default has occurred and is continuing as of the date hereof. 

  
 3 

 F. OTHER AGREEMENTS 

1. Continuing Effectiveness of Loan Documents. As amended hereby, all terms of the Credit Agreement and the other Loan Documents
shall be and remain in full force and effect and shall constitute the legal, valid, binding and enforceable obligations of the Credit Parties party thereto. To the extent any terms and conditions in any of the other Loan Documents shall contradict
or be in conflict with any terms or conditions of the Credit Agreement, after giving effect to this Amendment, such terms and conditions are hereby deemed modified and amended accordingly to reflect the terms and conditions of the Credit Agreement
as modified and amended hereby. Upon the effectiveness of this Amendment such terms and conditions are hereby deemed modified and amended accordingly to reflect the terms and conditions of the Credit Agreement as modified and amended hereby.

 2. Reaffirmation of Loan Documents. Each Credit Party consents to the execution and delivery of this Amendment by all
parties hereto and the consummation of the transactions described herein, and ratifies and confirms the terms of the Credit Agreement, Guaranty and Security Agreement and each other Loan Document to which such Credit Party is a party with respect to
the indebtedness now or hereafter outstanding under the Credit Agreement as amended hereby and all promissory notes issued thereunder. Each Credit Party acknowledges that, notwithstanding anything to the contrary contained herein or in any other
document evidencing any indebtedness of any Borrower to the Lenders or any other obligation of Borrowers, or any actions now or hereafter taken by the Lenders with respect to any obligation of Borrowers, the Guaranty and Security Agreement
(i) is and shall continue to be a primary obligation of such Credit Party, (ii) is and shall continue to be an absolute, unconditional, continuing and irrevocable guaranty of payment, and (iii) is and shall continue to be in full
force and effect in accordance with its terms. Nothing contained herein to the contrary shall release, discharge, modify, change or affect the original liability of any Credit Party under the Guaranty and Security Agreement. 

3. Acknowledgment of Perfection of Security Interest. Each Credit Party hereby acknowledges that, as of the date hereof, the
security interests and liens granted to Agent, the L/C Issuer and the Lenders under the Credit Agreement and the other Loan Documents are in full force and effect, are properly perfected and are enforceable in accordance with the terms of the Credit
Agreement and the other Loan Documents. 
 4. Effect of Agreement. Except as set forth expressly herein, all terms of the
Credit Agreement, as amended hereby, and the other Loan Documents shall be and remain in full force and effect and shall constitute the legal, valid, binding and enforceable obligations of the Borrowers to the Lenders, the L/C Issuer and Agent. The
execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of the Lenders under the Credit Agreement, nor constitute a waiver of any provision of the
Credit Agreement. This Amendment shall constitute a Loan Document for all purposes of the Credit Agreement. 
 5. Governing
Law. This Amendment shall be governed by, and construed in accordance with, the internal laws of the State of New York and all applicable federal laws of the United States of America. 

  
 4 

 6. No Novation. This Amendment is not intended by the parties to be, and shall not be
construed to be, a novation of the Credit Agreement and the other Loan Documents or an accord and satisfaction in regard thereto. 
 7. Costs and Expenses. The Borrowers agree to pay on demand all costs and expenses of Agent in connection with the preparation, execution and delivery of this Amendment, including, without
limitation, the reasonable fees and out-of-pocket expenses of outside counsel for Agent with respect thereto. 
 8.
Counterparts. This Amendment may be executed by one or more of the parties hereto in any number of separate counterparts, each of which shall be deemed an original and all of which, taken together, shall be deemed to constitute one and the
same instrument. Delivery of an executed counterpart of this Amendment by facsimile transmission, Electronic Transmission or containing an E-Signature shall be as effective as delivery of a manually executed counterpart hereof. 

9. Binding Nature. This Amendment shall be binding upon and inure to the benefit of the parties hereto, their respective
successors, successors-in-titles, and assigns. 
 10. Entire Understanding. This Amendment sets forth the entire
understanding of the parties with respect to the matters set forth herein, and shall supersede any prior negotiations or agreements, whether written or oral, with respect thereto. 

[signature pages to follow] 

  
 5 

 IN WITNESS WHEREOF, this Amendment has been duly executed as of the date first written
above. 
  

			
	BORROWERS:
	
	CRYOLIFE, INC.
		
	By:	 	 /s/ D. A. Lee

	Title:	 	 Executive VP, COO, CFO and Treasurer

	
	AURAZYME PHARMACEUTICALS, INC.
		
	By:	 	 /s/ D. A. Lee

	Title:	 	 VP Finance, CFO and Treasurer

	
	CRYOLIFE INTERNATIONAL, INC.
		
	By:	 	 /s/ D. A. Lee

	Title:	 	 VP, CFO and Treasurer

	
	CARDIOGENESIS CORPORATION
		
	By:	 	 /s/ D. A. Lee

	Title:	 	 Executive VP, COO, CFO and Treasurer

 [Signature Page to Sixth Amendment to Credit Agreement] 

 
			
	AGENT, L/C ISSUER AND LENDERS:
	
	GENERAL ELECTRIC CAPITAL
	CORPORATION, as Agent, L/C Issuer and sole
	Lender
		
	By:	 	 /s/ Ryan Guenin

		 	Its Duly Authorized Signatory

 [Signature Page to Sixth Amendment to Credit Agreement] 

 ANNEX I 
 PLEDGED STOCK 
  

									
	 ISSUER
	 	 CLASS
	 	 CERTIFICATE
NO(S).
	 	 PAR VALUE
	 	 NUMBER OF
SHARES, UNITS
OR
INTERESTS

 PLEDGED DEBT INSTRUMENTS 

 

									
	 ISSUER
	 	 DESCRIPTION
OF DEBT
	 	 CERTIFICATE
NO(S).
	 	 FINAL 
MATURITY
	 	 PRINCIPAL
AMOUNT

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