Document:

EX-10.31

 Exhibit 10.31 
 EXCLUSIVE MANAGEMENT 
 AND ADMINISTRATIVE SERVICES AGREEMENT

 THIS EXCLUSIVE MANAGEMENT AND ADMINISTRATIVE SERVICES AGREEMENT (the “Agreement”) effective
_____________, is by and between _____________ (“Manager”) and _________, a ____________ professional [corporation, association] (“Practice”). 

WHEREAS, Practice is a professional [corporation, association] which employs physicians and other clinical professionals qualified
to provide services in neonatology, maternal-fetal medicine, and other pediatric subspecialties and/or certain other professional services to patients (“Professional Medical Services”); and 

WHEREAS, Manager is a corporation engaged in the business of providing administrative and management services (collectively,
“Management Services”) to medical practices; and 
 NOW, THEREFORE, in consideration of the mutual promises and
other valuable consideration, the sufficiency of which is hereby acknowledged, the parties intending to be legally bound by this Agreement agree as follows: 
 ARTICLE 1. 
 ENGAGEMENT 

Practice hereby engages Manager, and Manager hereby agrees to be engaged by Practice, to provide or arrange for the provision of the
management and administrative services described in this Agreement, so as to support the provision of Professional Medical Services by Practice to hospitals, other healthcare facilities, and their patients, through the physicians and other clinical
employees or independent contractors of Practice (the “Professionals”). 
 ARTICLE 2. 

DUTIES OF MANAGER 
 Manager shall provide or arrange to provide certain Management Services required for the day-to-day operations of Practice and shall have authority over all decision-making relating to the provision of
such services. Manager does not have any decision-making authority over the provision of Professional Medical Services, which shall be the exclusive responsibility of the Professionals. Management Services include but are not limited to the
following: 
 2.1 Coding. Manager will provide resources to Practice to assist with the process of assigning CPT and
ICD-9 codes, as appropriate to the Professional Medical Services provided by the Professionals. Such services may include implementation of coding guidelines, computerized billing programs and individual coding review. The Practice acknowledges
that, although 

  
 -1-

 
Manager will provide resources to assist the coding process, final coding decisions shall be the responsibility of the Professionals. 

2.2 Billing and Collection Services. Manager shall provide billing and collection services for all Professional Medical Services
rendered by Practice and its Professionals. Such services shall include: the correlation of records kept by the Professionals who render care; maintenance of insurance information for each patient; computation and submission of bills for each
patient account; pursuit of any disputed claims, including the filing of lawsuits to obtain payment; and accounting for the collection of all revenues. To facilitate the expeditious collection of all of Practice’s fees for services provided by
its Professionals, and to assist Manager in providing appropriate cash flow management to Practice, Practice hereby assigns to Manager all of its professional fees and accounts receivable for services provided, once collected by Practice, excluding
fees and accounts receivable relating to professional services rendered to patients eligible for coverage under the Medicare or Medicaid programs or other third party payors which prohibit such assignments, and hereby appoints Manager as its true
and lawful attorney-in-fact, with full power to collect and otherwise deal in and with such fees and receivables assigned by Practice; provided, however, that, to the extent allowed by law, Practice assigns to Manager all income received by
it on account of services rendered to patients of Practice who are eligible for coverage in the Medicare or Medicaid programs and other third party payors which prohibit assignments, and Practice agrees to surrender, transfer, and remit to Manager
promptly all fees received on behalf of or from such patients. Practice agrees to execute any and all instruments and documents deemed necessary or desirable by Manager to carry out the provisions of this section. Practice agrees that, to the extent
Manager receives notice from a hospital or other healthcare entity of, or Manager makes on its own behalf, a bona fide request to write-off or hold in abeyance any of Practice’s professional fees, that Practice will not unreasonably refuse the
request of the hospital or other healthcare entity or Manager. 
 2.3 Third Party Payors. Manager shall act as the
liaison of Practice with all third party payors for the purpose of negotiating managed care, preferred provider and other agreements with such third party payors. Manager shall monitor performance of the respective parties to such agreements for
compliance with the terms and conditions set forth therein, as well as all applicable federal and state laws, rules and regulations. 
 2.4 Hospital Liaison. Manager shall be the administrative liaison between Practice and any hospital or other healthcare entity in which Practice and/or Professionals provide Professional Medical
Services, including pursuant to a contractual arrangement between Practice and the hospital or other healthcare entity. Manager shall provide to Practice all administrative services associated with Practice’s Professional Medical Services at
such hospitals. Manager shall also bill and collect all medical director stipends, coverage fees or other sums that may be due from such hospitals or other healthcare entity. 
 2.5 Human Resources Services. Manager shall provide the following human resources services: maintenance of employment records on each employee; establishment and administration of employee
benefits, including insurance plans; recruiting and hiring of any personnel other than the Professionals (the “Non-Clinical Personnel”); evaluation and salary 

  
 -2-

 
recommendations for Non-Clinical Personnel; provision of day-to-day management and direction to Non-Clinical Personnel; and development of human resource policies and procedures pertaining to
Non-Clinical Personnel. Manager shall establish payroll accounts and procedures in accordance with Section 2.7. 
 2.6
Financial Services. Manager shall provide the following financial services: Manager shall provide such bookkeeping services as may be required to keep the books and accounts of Practice, and may, at its discretion, retain a professional
accountant to perform same; Manager shall manage, federal, state and local tax compliance and liabilities; and Manager shall track and pay all accounts on behalf of the Practice. 

Manager and Practice shall work together to develop a fee schedule for Professional Medical Services to be provided by Practice;
provided, however, that such fee schedule shall be subject to the final approval of Manager. Manager shall review the fee schedule on a periodic basis and recommend changes to Practice as may be necessary. 

2.7 Cash Management. Manager is authorized to open one or more bank accounts necessary to manage the finances of Practice. Manager
is authorized to establish payroll systems and make payroll payments, pay accounts payable and otherwise satisfy the obligations of Practice from these accounts. Manager shall deposit all collections from services rendered by Practice into these
accounts. Manager shall prepare monthly reconciliations of all bank accounts. 
 2.8 Recruiting. Manager shall recruit
Professionals on behalf of Practice. Practice retains responsibility for monitoring and maintaining the qualifications of its Professionals. The parties agree that the role of Manager is to present candidates for consideration by Practice, and that
Practice shall have ultimate responsibility for the hiring and termination of Professionals. The contract between Practice and a hospital or other healthcare entity shall govern the types of specialties of the Professionals needed for the Practice.

 2.9 Credentialing. Manager shall monitor the licensing and credentials of the Professionals to ensure that the
Professionals continue to meet credentialing guidelines set forth by the state, hospital and Practice in which the Professional provides Professional Medical Services, as well as the third party payors contracted with Practice. Professionals shall
remain responsible for the maintenance of their licenses and credentials. 
 2.10 Planning and Budgeting. Manager shall
assist Practice in short and long range planning, including the projection of personnel needs, proposals of benefit packages, analyses of future markets, and other necessary planning services. Practice shall prepare annual budgets (“Annual
Budget”), which shall be submitted to Manager for its approval. Such Annual Budget must be acceptable to Manager so that Manager can ensure that it can fulfill its obligations under this Agreement. Practice agrees to operate within and in
accordance with the Annual Budget unless a variance from the Annual Budget has been previously approved by Manager or such variance involves an emergency expenditure to maintain required staffing levels or treatment standards and approval of Manager
could not be obtained in a timely manner due to such emergency. Notwithstanding the foregoing, Practice retains the responsibility for ensuring that 

  
 -3-

 
adequate staffing levels are maintained, and must notify Manager if Practice is not adequately staffed at any point. 
 2.11 Insurance. Manager shall obtain and maintain, on behalf of Practice, such policies of general liability, professional liability and other appropriate insurance as are commercially available at
limits of liability which are customarily maintained by similar enterprises. In the alternative, at the request of Manager, Practice shall maintain such policies with coverage and limits acceptable to Manager in its sole discretion. In no event
shall Manager be liable under any circumstances if such coverage is deemed insufficient for any reason and Practice shall immediately notify Manager if any third party deems such coverage to be insufficient. Practice shall advise Manager in detail
of any claims or possible claims against such insurance policies. 
 2.12 Compliance. Manager shall maintain, on behalf
of itself and Practice, a Compliance Program, which supports the intent of the parties to comply with all applicable legal and regulatory requirements that affect healthcare providers. The Compliance Program will be operated in accordance with
(1) a written Compliance Plan and Code of Conduct; (2) those compliance policies and procedures established by Manager to support the requirements and spirit of the Compliance Program; and (3) generally recognized and
accepted healthcare industry compliance practices, established statutory and regulatory requirements, and sound business, legal and ethical principles. 
 2.13 Legal. Manager shall arrange for legal resources to facilitate hospital, health care entity and clinical employment contracting, real estate and other contract review, maintenance of corporate
records and minute books, and general legal compliance. 
 2.14 Risk Management. Manager shall develop programs to
identify areas of potential legal risk for the Practice and provide and coordinate risk management services and legal representation in the event of actual or anticipated litigation against Practice. 

2.15 Research Support. Manager shall make available to Practice various resources and opportunities to enable Practice to
participate in clinical research projects. Specifically, Practice authorizes Manager to negotiate the terms and conditions of research agreements between Practice and third parties; provided, however, that Practice will be a party to such research
agreements and responsible for conducting the research in accordance with the terms of the executed agreements. Manager shall have no direct or indirect responsibility thereunder. In addition, Manager will develop and implement on behalf of Practice
guidelines relating to research, assist Practice in developing opportunities to participate in research, generate funding for such participation, and coordinate the billing and management of research revenue, as well as other financial aspects of
Practice’s involvement in research. Practice delegates and conveys upon Manager the right and responsibility to: (1) negotiate budgets and payments under any research agreement to which Practice is a party; and (2) handle the billing
for and collection of such payments. Practice shall notify Manager about any changes in a protocol or developments during a clinical study which might impact a study budget and/or trigger a breach, termination or renegotiation of an agreement.
Practice shall cooperate with Manager in the negotiation of the 

  
 -4-

 
terms of research agreements, including development of fair market value rates for use in research budgets. 
 2.16 Education Support. Manager shall provide educational resources to Professionals, including resources to support continuing medical education and continuing nursing education requirements of
the Professionals pursuant to state licensure laws. 
 2.17 Peer Review. Consistent with the Health Care Quality
Improvement Act of 1986, 42 U.S.C. § 11101, Manager shall develop and maintain, on Practice’s behalf, programs to improve the quality of care provided by Professionals. Upon a request for peer review from management or a Professional,
Manager shall arrange for a review by a qualified professional or professionals in the same or similar specialty as the Professional under review. Manager shall provide assistance to Practice in implementing recommendations or a corrective action
plan, follow-up issues and fulfilling reporting obligations, if any. 
 2.18 Quality Improvement. Manager shall develop
programs designed to improve the quality of care provided by the Professionals and encourage identification and adoption of clinical best practices. Practice and Manager acknowledge that, in connection with such quality improvement activities, it
may be necessary to provide Manager with PHI and Practice and Manager agree to treat such information in accordance with section 2.20 hereof. 
 2.19 Additional Services. Although the parties have endeavored to reflect the management and administrative services that Manager shall provide hereunder, they expressly recognize that there
may be additional services provided by Manager, it being the intent of the parties that all management and administrative services necessary for the operations of Practice be provided by Manager. Additional services also may be suggested by Practice
and provided by Manager upon mutual agreement of the parties. In the event that Manager cannot perform any additional services that Practice may request, Manager shall arrange for the provision of such additional services. 

2.20 HIPAA and Business Associate Status. Practice and Manager acknowledge that, in connection with the provision of Management
Services under this Agreement, it may be necessary for Practice to provide Manager with Protected Health Information (“PHI”) (as defined in Exhibit B), and therefore, the Practice and Manager agree to enter into the Business Associate
Agreement set forth in Exhibit B attached hereto and made a part hereof. 
 ARTICLE 3. 

HOSPITAL CONTRACTS 
 3.1 Performance of Services. Practice may directly contract with hospitals and other healthcare entities for the provision of Professional Medical Services pursuant to Section 3.2 below.
Practice hereby agrees to provide Professional Medical Services solely and exclusively to hospitals and other healthcare entities with which Manager has approved of the contract for the 

  
 -5-

 
provision of such services by Practice. Such approval by Manager is intended to ensure that contracts contain appropriate financial terms and restrictive covenants, in keeping with the intent of
this Agreement, so as to enable Manager to fulfill its obligations under this Agreement. Practice shall comply and require its Professionals to comply with the terms and conditions of this Section and such hospital and other healthcare entity
contracts. 
 3.2 Negotiation of Contracts. Practice agrees not to negotiate, make, propose or execute any contract, nor
allow any other party besides Manager to arrange for the Professional Medical Services of Practice or its Professionals during the term of this Agreement; provided, however, that Practice will execute agreements with hospitals that have been
approved by Manager in accordance with Section 3.1 herein. 
 3.3 Privileges. The responsibilities of Manager
hereunder do not include any duty to negotiate or obtain medical staff membership or clinical privileges for Professionals. At Manager’s request, such Professionals shall be required to (i) obtain necessary medical staff membership and
clinical privileges; and (ii) to resign from medical staff membership and clinical privileges upon termination for any reason from Practice, upon termination of this Agreement, or as may be required to fulfill the contracts with hospitals and
other healthcare entities. 
 3.4 Non-Competition. Practice agrees that neither Practice, nor its shareholders or
Professionals, nor their heirs, assigns or successors in interest, shall contract with or arrange for the provision of Professional Medical Services at any hospital or other healthcare entity which has been a party to a contract with Manager or
Practice for a period of eighteen (18) months following the termination of any such contract. Practice further agrees that, upon termination of this Agreement for any reason, it will not contract with or arrange for the provision of
Professional Medical Services at any hospital or other healthcare entity at which Practice has provided services during the term hereof for a period of two (2) years following the termination of this Agreement. The parties specifically agree
that this provision shall survive the termination of this Agreement for any reason and that Practice shall cause each shareholder and Professional to execute such further documents or instruments as Manager may request to evidence Section 3.3
of this Agreement. 
 3.5 Confidential Information. Practice agrees that neither Practice, nor its shareholders or
Professionals, shall reveal to any person, association, or company, or shall use or otherwise exploit for their own benefit or for the benefit of anyone other than Manager, any Confidential Information (as defined below) concerning the organization,
business or finances of Manager so far as they have come or may come to their knowledge, except as may be required in the ordinary course of performing their duties for the medical practice of Practice or except as may be in the public domain
through no fault of their own, and they shall keep secret all matters entrusted to them and shall not use or attempt to use any such Confidential Information in any manner which may injure or cause loss or may be calculated to injure or cause loss
whether directly or indirectly to Manager. “Confidential Information” shall include, without limitation, any patents, patent applications, licenses, copyrights, trademarks, trade names, service marks, service names, “know-how,”
trade secrets, customer or patient lists, details of client or consulting contracts, pricing policies, operational methods, marketing plans or strategies, product 

  
 -6-

 
development techniques or plans, procurement and sales activities, promotional and pricing techniques, credit and financial data concerning customers, business acquisition plans or any portion or
phase of any scientific or technical information, ideas, discoveries, designs, computer programs (including source or object codes), processes, procedures, formulas or improvements of Practice, whether or not in written or tangible form, and whether
or not registered, and including all memoranda, notes, plans, reports, records, documents and other evidence thereof. 

Practice, its shareholders and Professionals agree to promptly return to Manager any Confidential Information in their possession upon
disassociation or termination for any reason from Practice or upon the termination of this Agreement for any reason. 
 The
parties specifically agree that the provisions of this Section 3.5 shall survive termination of this Agreement for any reason and that Practice shall cause each shareholder and Professional to execute such further documents or instruments as
Manager may request to evidence Section 3.5 of this Agreement. 
 3.6 Breach of Covenants. The parties hereto agree
that damage to Manager would be irreparable and incalculable should Practice or its shareholders, Professionals or other employees, affiliates or agents violate the covenants contained in Section 3 of this Agreement. Without limitation of any
other legal or equitable rights which Manager may possess, Practice expressly agrees that Manager or its assigns shall be entitled to injunctive relief without the necessity of first proving damages in the event of a threatened or actual breach of
such covenants by Practice, its shareholders, Professionals or other employees, affiliates or agents. Said right to temporary or injunctive relief shall exist notwithstanding any dispute, controversy or allegation of breach by Practice hereunder or
otherwise. Practice shall cause its shareholders, Professionals and other employees, affiliates or agents to execute appropriate documents as necessary to effectuate this provision. 

ARTICLE 4. 

LIMITATION ON MANAGEMENT SERVICES 
 Notwithstanding any other provision to the contrary contained in this Agreement, Manager shall exercise no control nor have any responsibility for the Professional Medical Services rendered to any patient
by the Professionals. Manager and Practice agree that it is not the intent of this Agreement to interfere with the professional clinical judgment of the Professionals. Manager shall not, in any manner, directly or indirectly regulate or control the
Professional’s independent clinical judgment concerning the practice of medicine or the diagnosis and treatment of patients. All decisions relating to patient care and treatment shall be made by a licensed physician or other clinical provider
in his or her sole and absolute discretion. Any licenses, permits or other certifications which Practice or its Professionals may need to provide Professional Medical Services shall be the sole responsibility of Practice and such Professionals. The
shareholder(s) of Practice agree to perform all medical management deemed necessary or advisable by either Practice or Manager to satisfy hospital agreements, third party payor relationships, and good medical practice organization and management.

  
 -7-

 Practice shall retain responsibility for the hiring, termination, training or supervision of
Professionals employed or otherwise retained by Practice. Any Professional employed or otherwise retained by Practice shall be retained pursuant to an agreement which contains terms and conditions concerning Practice’s finances and restrictive
covenants that are satisfactory to Manager and in keeping with the intent of this Agreement, so as to enable Manager to fulfill its obligations under this Agreement. Practice agrees to ensure that Professionals perform the obligations of their
respective agreements (including employment agreements) in accordance with the terms and conditions of such agreements and this Agreement, as the case may be. Manager shall have final approval of any amendments, waivers or termination of employment
agreements made by Practice which affect Practice’s finances or restrictive covenants. 
 ARTICLE 5. 

BOOKS AND RECORDS 
 Practice shall have the right to inspect the books and records of Manager regarding its collections, billing, accounting and other functions provided by Manager on behalf of Practice. 

ARTICLE 6. 

COMPENSATION AND EXPENSES 
 6.1 Compensation. For all services rendered by Manager in accordance with this Agreement, Practice shall pay Manager those sums described in “Exhibit A,” which is attached to and made a
part of this Agreement. “Exhibit A” may be amended from time to time by Manager to reflect industry standards and the range of services provided by Manager. 
 6.2 Expenses. Manager shall pay all costs and expenses of Practice out of the revenues of Practice. 
 ARTICLE 7. 
 TERM AND TERMINATION 

7.1 The parties intend that the term of the arrangements under this Agreement shall be permanent, subject only to the rights of
termination pursuant to Sections 7.2, 7.3 and 7.4 hereof. 
 7.2 Termination by Manager with Cause. This Agreement
may be terminated by Manager upon a material breach of any provision of this Agreement by Practice which is not cured within thirty (30) days after written notice is given to Practice specifying the nature of the alleged breach. 

 7.3 Termination by Manager without Cause. This Agreement may be terminated by Manager without cause upon sixty
(60) days written notice to Practice. 

  
 -8-

 7.4 Termination by Practice with Cause. This Agreement may be terminated by Practice
only in the event of gross negligence, fraud or other illegal acts of Manager; provided, that such events must first have been proven in a court of competent jurisdiction and all appeal rights related thereto have been exhausted prior to any
termination pursuant to this Section 7.4. Except as provided in this Section 7.4, under no circumstances shall Practice have the right to terminate this Agreement. 
 ARTICLE 8. 
 STATUS OF MANAGER 

In the performance of the duties, responsibilities and obligations required by this Agreement, Manager shall at all times be performing
as an independent contractor of Practice. No act, work, commission or omission by Manager pursuant to the terms and conditions of this Agreement shall be construed to make or render Manager an agent, servant or employee of, or joint venturer with,
Practice. Nothing in this Agreement limits the right of Manager to provide any services or products or enter into any contractual arrangements with any person or entity, including, without limitation, persons or entities in similar businesses or in
competition with Practice. 
 ARTICLE 9. 
 MISCELLANEOUS 
 9.1 Notices. Any notice required or permitted
to be given hereunder to either party shall be deemed given if sent by hand delivery, by registered or certified mail, return receipt requested, or by overnight mail delivery for which evidence of delivery is obtained by the sender, to such party
at: 
  

			
	         Practice:        
	 	 
		 	[ADDRESS]
		
	         Manager:        
	 	 
		 	[ADDRESS]

 9.2 Limitation of Assignment. This Agreement shall not be assigned by Practice without the prior
express written consent of Manager. This Agreement may be assigned by Manager unilaterally and without consent of the Practice. 

  
 -9-

 9.3 Binding on Successors in Interest. The provisions of, and obligations arising
under, this Agreement shall extend to, be binding upon and inure to the benefit of the successors and assigns of each party. 

9.4 Severability; Changes in Law. If any part of this Agreement is determined to be invalid, illegal, inoperative, or contrary to
law or professional ethics, that part shall be reformed, if possible, to conform to law and ethics; the remaining parts of this Agreement shall be fully effective and operative to the extent reasonably possible. If any restriction contained in this
Agreement is held by any court to be unenforceable or unreasonable, a lesser restriction shall be enforced in its place and the remaining restrictions shall be enforced independently of each other. 

9.5 Conformance with Law. Each party agrees to carry out all activities undertaken by it pursuant to this Agreement in conformance
with all applicable federal, state and local laws, rules and regulations. 
 9.6 Time of the Essence. Time shall be of
the essence with respect to each and every term, covenant and condition of this Agreement. 
 9.7 Entire
Agreement/Amendment. This Agreement supersedes all previous contracts between the parties relating to the subject matter hereof, and, together with the Joinder and any Exhibits expressly incorporated herein, constitutes the entire agreement
between the parties. Oral statements or prior written materials not specifically incorporated in this Agreement shall not be of any force and effect. In entering into and executing this Agreement, the parties rely solely upon the representations and
agreements contained in the Agreement and no others. Except as provided in Section 6.1, no changes in or additions to this Agreement shall be recognized unless and until made in writing and signed by an authorized officer or agent of Practice
and Manager. 
 9.8 Governing Law. This Agreement has been executed and delivered and shall be construed and enforced in
accordance with the laws of the State of Florida. Any action by any party whether at law or in equity, shall be commenced and maintained and venue shall properly be in Broward County, Florida. 

9.9 Third Party Beneficiaries. This Agreement shall not be construed to create any third party beneficiaries. 

9.10 Waiver of Breach. No provision of this Agreement shall be deemed waived unless evidenced by a written document signed by an
authorized officer or agent of Practice and Manager. The waiver by either party of a breach or violation of any provision of this Agreement shall not operate as, or be construed to be, a waiver of any subsequent breach of the same or other provision
of this Agreement. 
 9.11 Section and Other Headings. The section and other headings contained in this Agreement are for
reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. 

  
 -10-

 9.12 Gender and Number. When the context of this Agreement requires, the gender of
all words shall include the masculine, feminine and neuter, and the number of all words shall include the singular and plural. 

9.13 Execution. This Agreement and any amendments may be executed in multiple originals, each counterpart shall be deemed an
original, but all counterparts together shall constitute one and the same instrument. 
 9.14 Additional Assurances. The
provisions of this Agreement are self-operative and do not require further agreement by the parties; provided, however, at the request of either party the other shall execute any additional instruments and take any additional acts that
Manager may deem reasonably necessary to effectuate this Agreement. 
 9.15 Force Majeure. Neither party shall be liable
nor deemed to be in default for any delay or failure in performance under this Agreement or other interruption of service or employment deemed resulting, directly or indirectly, from acts of God, civil or military authority, acts of public enemy,
war, accidents, fires, explosions, earthquakes, floods, failure of transportation, strikes or other work interruptions by either party’s employees, or any similar or dissimilar cause beyond the reasonable control of either party. 

9.16 Authority. Each signatory to this Agreement represents and warrants that he/she possesses all necessary capacity and
authority to act for, sign, and bind the respective entity on whose behalf he/she is signing. 
 9.17 Security. As
security and collateral for (i) the obligations of Practice to Manager under this Agreement, and (ii) any loans from Manager to Practice (whether made before or after the date hereof), Practice hereby grants a first security interest to
Manager in all tangible and intangible assets of Practice, whether now owned or later acquired, and to all proceeds from such assets. Additionally, the shareholder(s) of Practice pledges, as security for his, her, or their obligation to Manager and
the obligations of Practice to Manager, all of the shares of Practice owned by him, her, or them and shall place such shares in the possession of Manager. Practice and the shareholder(s) of Practice agree to execute such further documents and
instruments as may be deemed necessary or desirable by Manager, in Manager’s sole discretion, to effect the provisions of this Section. 
 9.18 No Duty to Patients. Nothing in this Agreement is intended by the parties to create or imply a duty by Manager to Practice’s patients or patients of the hospitals or other healthcare
facilities in which the Professionals provide services. 
 9.19 No Duty to Patients Undertaken. Nothing in this Agreement
is intended by the parties to be an assumption by Manager of a duty to Practice’s patients or patients of the hospitals or other healthcare facilities in which the Professionals provide services. 

  
 -11-

 9.20 No Limitation on Professional Medical Services. Nothing in this Agreement is
intended by the parties to limit or control in any way, services provided by the Practice’s Professionals. 
 (THE
REMAINDER OF THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK) 

  
 -12-

 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their
duly authorized officers or agents. 
  

											
				
		 	“Practice”	 		 	“Manager”
						
		 	By	 	 	 		 	By	 	 
		 	Name:	 	 	 		 	Name:	 	 
		 	Title:	 	 	 		 	 Title:
	 	 

  
 -13-<![CDATA[Director & Advisory Director Compensation Policy]]>

 Exhibit 10.2 
  

 
 HORNBECK OFFSHORE SERVICES, INC. 
 Service with Energy 
 DIRECTOR & ADVISORY DIRECTOR 

COMPENSATION POLICY 
 Adopted
2012 
 Effective Date 
 The
effective date of the revised plan shall be January 1, 2012. 
 Cash Compensation Plan 

Each Non-employee Director will receive a total annual retainer of $32,500 paid quarterly on the first day of each calendar quarter. The Chairman of the Board, if a
Non-employee Director, and the Chairman of each of the Audit and Compensation Committees will each receive an additional total annual retainer of $8,000 paid quarterly on the first day of each calendar quarter. Each Non-employee Director of the
Company will receive $1,500 for each Board and Committee meeting attended in person or by telephonic or other electronic communications. Board and Committee members must attend meetings in person or by telephonic or other electronic communications
to receive the applicable compensation. 
 Equity Compensation Program 
 Non-employee Directors will receive quarterly grants of that number of shares of common stock equal for each quarter to Twenty-five Thousand Dollars ($25,000) divided by the closing stock price on the applicable
grant date. Such dollar amount may be reviewed annually and adjusted at the discretion of the Compensation Committee. Should the Compensation Committee determine to do so, it may utilize options or restricted stock units with a vesting
element in making such awards.
 Health Benefit Program 
 After 3 years of service as a Non-employee Director, such Non-employee Director and his or her immediate family may also elect to participate in the same insurance benefit programs on the same monetary terms as the
executive officers. 
  
  

							
				
	103 Northpark Boulevard, Suite 300	  		 	Phone:	 	(985) 727-2000
	Covington, Louisiana 70433	  		 	Fax:	 	(985) 727-2006

 Longevity Plan 
 The Company will provide a Longevity Plan for the benefit of Non-employee Directors as follows: Upon completion of three years of service as a Non-employee Director, the Non-employee Director will be granted (the
“Three-Year Grant”) (i) an option to purchase the number of shares of common stock equaling 25% of the shares covered by options granted to such Director over the previous three years and (ii) shares of common stock or restricted
stock units equal to 25% of the shares of common stock and restricted stock units granted to such Director over the previous three years. Upon completion of five years of service as a Non-employee Director, the Non-employee Director will be granted
(the “Five-Year Grant”) (i) an option to purchase the number of shares of common stock equaling 50% of the shares covered by options granted to such Director over the previous five years less the number of shares covered by
options awarded in the Three-Year Grant, if any, and (ii) shares of common stock or restricted stock units equal to 50% of the shares of common stock and restricted stock units granted to such Director over the previous five years less the
number of shares of common stock and restricted stock units awarded in the Three-Year Grant, if any. Thereafter, upon completion of each successive period of five years of service, a Non-employee Director will be granted (a “Successive
Longevity Grant”) (i) an option to purchase the number of shares of common stock equaling 50% of the shares covered by options granted to such Director over the previous five years (exclusive of any prior Longevity Grants of options during
such five years) and (ii) shares of common stock or restricted stock units equal to 50% of the shares of common stock and restricted stock units granted to such Director over the previous five years (exclusive of any prior Longevity Grants of
shares of common stock or restricted stock units during such five years). The exercise price of the options granted under the Longevity Plan will be the fair market value per share of the common stock on the date of grant. The longevity options and
shares of common stock granted will vest on the date of grant. Any restricted stock units granted will vest as determined by the Compensation Committee. A Three-Year Grant, a Five-Year Grant or a Successive Longevity Grant are also referred to
herein individually as a “Longevity Grant” or collectively as “Longevity Grants.” For purposes of the calculations contemplated by this paragraph, sign-on awards of options, shares of common stock or restricted stock units shall
not be counted and awards matched to purchases shall not be counted. Non-employee Directors on the original approval date of the Longevity Plan, July 18, 2002, will complete a year of service on July 17 in each succeeding year that they
continue serving as a Non-employee Director. Non-employee Directors joining the Board after July 18, 2002, will complete a year of service on the date immediately preceding the anniversary date of the earlier of the date they are appointed as a
Director by the Board or elected to the Board by the stockholders in each succeeding year that they continue serving as a Non-employee Director. 

Stock Option Grants. Stock Awards and Restricted Stock Unit Awards 
 All options granted, stock awarded and restricted stock units awarded to Non-employee Directors under this policy will be granted under and issued from the Company’s Incentive Compensation Plan, as such plan
may be amended and restated from time to time. Until issued, any pending Longevity Grant will be subject to the same terms and conditions applicable to the comparable award under the Incentive Compensation Plan, as amended from time to time, and any
related form of award agreement under the Incentive Compensation Plan applicable to such award, including, but not limited to, the effects a Change in Control or a termination of service for any reason, including Retirement, death, Disability, or
for cause, might have on the comparable award. The Compensation Committee retains the discretion to award a departing Non-employee Director the amount of any Longevity Grant to which the Non-employee Director was entitled as of the date of a Change
in Control or the Non-employee Director’s termination of service for any reason other than for cause. 

 Definition: Non-employee Director - A non-employee director or advisory director of the Company who has not been
employed by the Company for at least 3 years and/or has not tendered his resignation from the Board; provided that payments for an advisory or consulting agreement or for professional services shall not constitute employment for this purpose.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00200-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00200-of-00352.parquet"}]]