Document:

<PAGE>

                                                                  EXHIBIT 10.24

NATIONSBANK-Registered Trademark-

                                PROMISSORY NOTE

<TABLE>
<CAPTION>
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  Principal           Loan Date        Maturity       Loan No.        Call      Collateral      Account      Officer       Initials
<S>                  <C>              <C>            <C>            <C>        <C>             <C>          <C>           <C>
$2,800,000.00        03-30-2000       03-30-2005     0004296542                                               K44
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References in the shaded area are for Lender's use only and do not limit the applicability of this document to any particular loan
or item.
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</TABLE>

<TABLE>
<S>         <C>                                    <C>       <C>
Borrower:   Regeneration Technologies, Inc.        Lender:   Bank of America, N.A.
            1 Innovation Drive                               dba NationsBank, N.A.
            Alachua, FL 32615                                P.O. Box 40329
                                                             Jacksonville, FL 32203-0329
===================================================================================================================================
</TABLE>

Principal Amount: $2,800,000.00                   Date of Note:  March 30, 2000

PROMISE TO PAY. Regeneration Technologies, Inc. ("Borrower") promises to pay
to Bank of America, N.A. ("Lender"), or order, in lawful money of the United
States of America, the principal amount of Two Million Eight Hundred Thousand
& 00/100 Dollars ($2,800,000.00), together with interest on the unpaid
principal balance from March 30, 2000, until paid in full. The interest rate
will not increase above 18.000%.

PAYMENT. Subject to any payment changes resulting from changes in the Index,
Borrower will pay this loan in accordance with the following payment schedule:

        59 consecutive monthly interest payments, beginning April 30,
      2000, with interest calculated on the unpaid principal balances at
      an interest rate of 1.500 percentage points over the Index
      described below; 59 consecutive monthly principal payments of
      $11,666.66 each, beginning April 30, 2000, with interest
      calculated on the unpaid principal balances at an interest rate of
      1.500 percentage points over the Index described below; and 1
      principal and interest payment in the initial amount of
      $2,125,095.50 on March 30, 2005, with interest calculated on the
      unpaid principal balances at an interest rate of 1.500 percentage
      points over the Index described below. This estimated final
      payment is based on the assumption that all payments will be made
      exactly as scheduled and that the Index does not change; the
      actual final payment will be for all principal and accrued
      interest not yet paid, together with any other unpaid amounts
      under this Note.

The annual interest rate for this Note is computed on a 365/360 basis; that
is, by applying the ratio of the annual interest rate over a year of 360
days, multiplied by the outstanding principal balance, multiplied by the
actual number of days the principal balance is outstanding. Borrower will pay
Lender at Lender's address shown above or at such other place as Lender may
designate in writing. Unless otherwise agreed or required by applicable law,
payments will be applied first to any unpaid collection costs and any late
charges, then to any unpaid interest, and any remaining amount to principal.

VARIABLE INTEREST RATE. The interest rate on this Note is subject to change
from time to time based on changes in an independent index which is the "Wall
Street Journal LIBOR Rate" which is a fluctuating rate of interest equal to
the 1 month London interbank offered rate as published in the "Money Rates"
section of The Wall Street Journal on the immediately preceding business day
as adjusted from time to time in Lender's sole discretion for then applicable
reserve requirements, deposit insurance assessment rates and other regulatory
costs (the "Index"). The Index is not necessarily the lowest rate charged by
Lender on its loans. If the Index becomes unavailable during the term of this
loan, Lender may designate a substitute Index after notice to Borrower.
Lender will tell Borrower the currently Index rate upon Borrower's request.
Borrower understands that Lender may make loans based on other rates as
well. The interest rate change will not occur more often than each date of
such change in the Index. THE INDEX CURRENTLY IS 6.131% PER ANNUM. THE
INTEREST RATE OR RATES TO BE APPLIED TO THE UNPAID PRINCIPAL BALANCE OF THIS
NOTE WILL BE THE RATE OR RATES SET FORTH ABOVE IN THE "PAYMENT" SECTION.
NOTWITHSTANDING ANY OTHER PROVISION OF THIS NOTE, THE VARIABLE INTEREST RATE
OR RATE PROVIDED FOR IN THIS NOTE WILL BE SUBJECT TO THE FOLLOWING MAXIMUM
RATE. NOTICE: Under no circumstances will the effective rate of interest on
this Note be more than (except for any higher default rate shown below) the
lesser of 18.000% per annum or the maximum rate allowed by applicable law.
Whenever increases occur in the interest rate, Lender, at its option, may do
one or more of the following: (a) increase Borrower's payments to ensure
Borrower's loan will pay off by its original final maturity date, (b)
increase Borrower's payments to cover accruing interest, (c) increase the
number of Borrower's payments, and (d) continue Borrower' payments at the
same amount and increase Borrower's final payment.

PREPAYMENT. Borrower may pay all or a portion of the amount owed earlier
than it is due. Early payments will not, unless agreed to by Lender in
writing, relieve Borrower of Borrower's obligation to continue to make
payments under the payment schedule. Rather, they will reduce the principal
balance due and may result in Borrower making fewer payments.

LATE CHARGE. If a payment is 15 DAYS OR MORE LATE, Borrower will be charged
4.000% OF THE UNPAID PORTION OF THE REGULARLY SCHEDULED PAYMENT.

DEFAULT. Borrower will be in default if any of the following happens:
(a) Borrower fails to make any payment when due. (b) Borrower breaks any
promise Borrower has made to Lender, or Borrower fails to comply with or to
perform when due any other term, obligation, covenant, or condition contained
in this Note or any agreement related to this Note, or in any other agreement
or loan Borrower has with Lender. (c) Any representation or statement made or
furnished to Lender by Borrower or on Borrower's behalf is false or
misleading in any material respect either now or at the time made or
furnished. (d) Borrower becomes insolvent, a receiver is appointed for any
part of Borrower's property, Borrower makes an assignment for the benefit of
creditors, or any proceeding is commenced either by Borrower or against
Borrower under any bankruptcy or insolvency laws. (e) Any creditor tries to
take any of Borrower's property on or in which Lender has a lien or security
interest. This includes a garnishment of any of Borrower's accounts with
Lender. (f) any guarantor dies or any of the other events described in this
default section occurs with respect to any guarantor of this Note. (g) A
material adverse change occurs in Borrower's financial condition, or Lender
believes the prospect of payment or performance of the indebtedness is
impaired. (h) LENDER IN GOOD FAITH DEEMS ITSELF INSECURE.

LENDER'S RIGHTS. Upon default, Lender may declare the entire unpaid principal
balance on this Note and all accrued unpaid interest immediately due, without
notice, and then Borrower will pay that amount. Upon default, including
failure to pay upon final maturity, Lender, at its option, may also, if
permitted under applicable laws, increase the variable interest rate on this
Note to 25.000% per annum, if and to the extent that the increase does not
cause the interest rate to exceed the maximum rate permitted by applicable
law. Lender may hire or pay someone else to help collect this Note if
Borrower does not pay. Borrower also will pay Lender the amount of these
costs and expenses, which includes, subject to any limits under applicable
law, Lender's reasonable attorneys' fees and Lender's legal expenses whether
or not there is a lawsuit, including reasonable attorneys' fees and legal
expenses for bankruptcy proceedings (including efforts to modify or vacate
any automatic stay or injunction), appeals, and any anticipated post-judgment
collection services. If not prohibited by applicable law, Borrower also will
pay any court costs, in addition to all other sums provided by law. THIS NOTE
HAS BEEN DELIVERED TO LENDER AND ACCEPTED BY LENDER IN THE STATE OF FLORIDA.
IF THERE IS A LAWSUIT, BORROWER AGREES UPON LENDER'S REQUEST TO SUBMIT TO THE
JURISDICTION OF THE COURTS OF ANY COUNTY, THE STATE OF FLORIDA. THIS NOTE
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE
OF FLORIDA.

RIGHT OF SETOFF. Borrower grants to Lender a contractual security interest
in, and hereby assigns, conveys, delivers, pledges, and transfers to

<PAGE>

03-30-2000                          PROMISSORY NOTE                      Page 2
                                      (Continued)

===============================================================================

Lender all Borrower's right, title and interest in and to, Borrower's
accounts with Lender (whether checking, savings, or some other account),
including without limitation all accounts held jointly with someone else and
all accounts Borrower may open in the future, excluding however all IRA and
Keogh accounts, and all trust accounts for which the grant of a security
interest would be prohibited by law. Borrower authorizes Lender, to the
extent permitted by applicable law, to charge or setoff all sums owing on
this Note against any and all such accounts, and, at Lender' option, to
administratively freeze all such accounts to allow Lender to protect Lender's
charge and setoff rights provided on this paragraph.

ARBITRATION. Any claim or controversy ("Claim") between the parties, whether
arising in contract or tort or by statute including, but not limited to,
Claims resulting from or relating to this Agreement shall, upon the request
of either party, be resolved by arbitration in accordance with the Federal
Arbitration Act (Title 9, US Code). Arbitration proceedings will be conducted
in accordance with the rules for arbitration of financial services disputes of
J.A.M.S./Endispute. The arbitration shall be conducted in any state where
real or personal property collateral for the credit is located or if there is
no collateral, in the state of any Borrower's domicile at the time of the
execution of this Agreement or at the commencement of any arbitration
proceeding. The arbitration hearing shall commence within 90 days of the
demand for arbitration and close within 90 days of commencement, and any
award, which may include legal fees, shall be issued (with a brief written
statement of the reasons therefore) within 30 days of the close of hearing.
Any dispute concerning whether a claim is arbitrable or barred by the statute
of limitations shall be determined by the arbitrator. This arbitration
provision is not intended to limit the right of any party to exercise
self-help remedies, to seek and obtain interim or provisional relief of any
kind or to initiate judicial or non-judicial foreclosure against any real or
personal property collateral.

NOTICE OF FINAL AGREEMENT. THIS WRITTEN AGREEMENT AND THE OTHER LOAN
DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE
CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL
AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE
PARTIES.

SWAP AGREEMENT. Borrower and Lender have entered into that certain
international SWAP Dealers Association, Inc. Master Agreement, dated
March 20, 2000 (together with all exhibits, schedules and addenda attached
thereto the "SWAP Agreement"), which accomplishes an interest rate swap for
the interest payments due under this Note; however Borrower hereby
acknowledges that at all times Borrower is obligated to perform all covenants
in this Note and other loan documents, irrespective of the terms of the SWAP
Agreement. Borrower hereby acknowledges that the SWAP Agreement does not
alter Borrower's obligations pursuant to this Note.

FINANCIAL COVENANTS. An exhibit, titled "FINANCIAL COVENANTS," is attached
to this Note and by this reference is made a part of this Note just as if
all the provisions, terms and conditions of the Exhibit had been fully set
forth in this Note.

GENERAL PROVISIONS. If any part of this Note cannot be enforced, this fact
will not affect the rest of the Note. Borrower does not agree or intend to
pay, and Lender does not agree or intend to contract for, charge, collect,
take, reserve or receive (collectively referred to herein as "charge or
collect"), any amount in the nature of interest or in the nature of a fee for
this loan, which would in any way or event (including demand, prepayment, or
acceleration) cause Lender to charge or collect more for this loan than the
maximum Lender would be permitted to charge or collect by federal law or the
law of the State of Florida (as applicable). Any such excess interest or
unauthorized fee shall, instead of anything stated to the contrary, be applied
first to reduce the principal balance of this loan, and when the principal
has been paid in full, be refunded to Borrower. Lender may delay or forgo
enforcing any of its rights or remedies under this Note without losing them.
Borrower and any other person who signs, guarantees or endorses this Note,
to the extent allowed by law, waive presentment, demand for payment, protest
and notice of dishonor. Upon any change in the terms of this Note, and
unless otherwise expressly stated in writing, no party who signs this Note,
whether as maker, guarantor, accommodation maker or endorser, shall be
released from liability. All such parties agree that Lender may renew or
extend (repeatedly and for any length of time) this loan, or release any
party or guarantor or collateral; or impair, fail to realize upon or perfect
Lender's security interest in the collateral; and take any other action
deemed necessary by Lender without the consent of or notice to anyone.
All such parties also agree that Lender may modify this loan without the
consent of or notice to anyone other than the party with whom the modification
is made.

PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS
OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS. BORROWER
AGREES TO THE TERMS OF THE NOTE AND ACKNOWLEDGES RECEIPT OF A COMPLETED COPY
OF THE NOTE.

BORROWER:

Regeneration Technologies, Inc.

By:  /s/ JAMIE M. GROOMS
    ---------------------------------
     Jamie M. Grooms, President

===============================================================================

                         FLORIDA DOCUMENTARY TAX

FLORIDA DOCUMENTARY TAX IN THE AMOUNT REQUIRED BY LAW HAS BEEN PAID WITH
RESPECT TO THIS NOTE, AND PROPER STAMPS HAVE BEEN AFFIXED TO THE MORTGAGE
SECURING THIS NOTE.

===============================================================================<PAGE>
                                                                 EXHIBIT 10.25

                  [REGENERATION TECHNOLOGIES, INC. LETTERHEAD]

June 22, 1999

Robert Hoffman
Allograft Resources of Wisconsin, Inc.
3553 University Avenue
Madison, WI 53705

Dear Mr. Hoffman:

Initially this letter was mailed to Kurt Klitzke, as Executive Director of
Allograft Resources of Wisconsin, Inc. The letter was never signed or
returned by Kurt. In the interim, Scott Sabo signed a faxed copy for our
files. We respectfully request you sign this original and return the same to
our office. A copy of the fully executed Amendment will be returned for your
file.

This letter shall serve as the Second Amendment to the Management Services
Agreement effective June 15, 1998, and amended on July 8, 1998, by and among
Regeneration Technologies, Inc., the University of Florida Tissue Bank, Inc.,
and Allograft Resources of Wisconsin, Inc.

(1)  Section 3.1(b) should read: "On a calendar quarterly basis, RTI shall
     assess ARW's level of activity related to the Selected Tissue
     requirements set forth on Exhibit 3.1(a) and RTI may adjust the Budget,
     at its sole discretion, and such adjustment shall be presented to ARW
     in a new Budget no less than thirty (30) days before the start of the
     quarter in which such adjustments take place. In the event that ARW
     exceeds the Selected Tissue Requirements it shall be entitled to a
     "Bonus Pool" budget increase. The calculation basis for such Bonus Pool
     budget increase is attached hereto as Exhibit 3.1(b).

(2)  Exhibit 3.1(b), BUDGET INCREASES should read: "The Bonus Pool budget
     increase is equal to $[*****] minus the actual cost per Donor, per calendar
     quarter, multiplied times the number of Donors received by RTI in that
     quarter. The calculation is as follows:

      1.   Total ARW calendar quarterly expenses divided by total ARW Donors
           received by RTI within that quarter = cost/Donor = "A"

      2.   ($[*****] - A) X (donors received by RTI for that quarter) = the
           amount paid to ARW for the Bonus Pool"

<PAGE>

Second Amendment to Management Services Agreement
June 22, 1999
Page 2 of 2

                                       REGENERATION TECHNOLOGIES, INC.

                                       /s/ Jamie Grooms
                                       ---------------------------------------
                                       Jamie Grooms, CEO

                                       UNIVERSITY OF FLORIDA TISSUE BANK, INC.

                                       /s/ Nancy R. Holland
                                       ---------------------------------------
                                       Nancy R. Holland, CEO

                                       ALLOGRAFT RESOURCES OF WISCONSIN, INC.

                                       /s/ Robert Hoffman
                                       ---------------------------------------
                                       Bob Hoffman
                                       Title:

<PAGE>

                  [REGENERATION TECHNOLOGIES, INC. LETTERHEAD]

                               RTI CONFIDENTIAL

                               CONTROLLED COPY

July 8, 1998

Kurt Klitzke
Executive Director
Allograft Resources of Wisconsin, Inc.
4860 Sheboygan Avenue
Madison, WI 53705-0905

Dear Mr. Klitzke:

This letter shall serve as an Amendment to the Management Services Agreement
effective June 15, 1998 by and among Regeneration Technologies, Inc., the
University of Florida Tissue Bank, Inc. and Allograft Resources of
Wisconsin, Inc.

Paragraph 6.6 should read, "RTI shall provide for ARW's liability insurance
coverage in the amount of $2,000,000 and such insurance coverage shall list
RTI as an additional insured."

                             REGENERATION TECHNOLOGIES, INC.

                             /s/ Jamie M. Grooms
                             -------------------------------
                             Jamie Grooms
                             CEO

                             UNIVERSITY OF FLORIDA TISSUE BANK,
                             INC.

                             /s/ Nancy R. Holland
                             -------------------------------
                             Nancy R. Holland
                             CEO

                             ALLOGRAFT RESOURCES OF WISCONSIN,
                             INC.

                             /s/ Kurt W. Klitzke
                             -------------------------------
                             Kurt W. Klitzke
                             Executive Director

<PAGE>

                        MANAGEMENT SERVICES AGREEMENT

      This Management Services Agreement (the "Agreement"), effective as of
this 15th day of June 1998 (the "Effective Date") is by and among
Regeneration Technologies, Inc., a Florida Corporation ("RTI"), the
University of Florida Tissue Bank, Inc., a Florida not-for-profit
corporation ("UFTB") and Allograft Resources of Wisconsin, Inc., a Wisconsin
corporation ("ARW").

                                 W I T N E S S E T H

      WHEREAS, RTI, in cooperation with UFTB, recovers, processes and
distributes human tissue for use by physicians in surgical implant procedures
around the world; and

      WHEREAS, ARW desires to commence operation of a tissue bank in its
territory; and

      WHEREAS, RTI in cooperation with UFTB, desires to support the start-up
of ARW and otherwise assist ARW in its tissue bank operations and ARW is
desirous of receiving such support and assistance; and

       WHEREAS, RTI and ARW desire to enhance RTI's supply of human tissue
for use by physicians in surgical implant procedures around the world;

      NOW, THEREFORE, in consideration of the foregoing, the mutual covenants
contained herein and for other good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, ARW, UFTB and RTI agree as
follows:

                             I - DEFINITIONS

      When used in this Agreement, the following capitalized terms shall have
meanings set forth in this Article I:

      1.1  "ARW" shall mean Allograft Resources of Wisconsin, Inc., a
Wisconsin corporation with offices at 3553 University Avenue, Madison,
Wisconsin.

      1.2  "Selected Tissues" shall mean the bone and soft tissue, heart
valve, vein and skin tissue recovered in accordance with the terms of this
Agreement and applicable law.

      1.3  "Tissues" shall mean Selected Tissues and all other tissues
customarily recovered from a human donor.

      1.4  "Donor" shall mean a donor which has all of the following tissue
pairs recovered: ilium, femur, fibula, tibia, fascia, and achilles and
patellar tendons.

                                      -1-

<PAGE>

                  II-CERTAIN COVENANTS OF RTI

      2.1 Promptly upon receipt by RTI of reasonably satisfactory evidence
that the RTI Funding Conditions (as hereinafter defined) have been satisfied,
RTI shall provide ARW with funding in the amounts set forth on the "Budget"
attached hereto as EXHIBIT 2.1(a). As used herein, RTI Funding Conditions
shall mean:

      (i) receipt by ARW of a determination letter from the Internal Revenue
Service that ARW has been qualified as a 501(c)(3) "community service
organization" under applicable internal revenue rules and regulations or RTI's
acceptance of proof of filing for such 501(c)(3); and

      (ii) receipt by ARW of approval and all necessary permits from the
State of Wisconsin and any other governing authority that has jurisdiction
over ARW'S tissue recovery operations in  Wisconsin, to begin its tissue
recovery operations as set forth herein; and

      (iii) the execution and delivery by each of ARW and those individuals
listed on EXHIBIT 2.1(b) of Employment Agreements in substantially the form
attached hereto as EXHIBIT 2.1(c) (the "Employment Agreements"); and

      (iv) configuration of the Board of Directors of ARW as set forth in
Section 2.4 hereof. ARW agrees that it shall use its best efforts to cause the
RTI Funding Conditions to be satisfied as soon as possible.

      2.2 In accordance with the Budget, each of Kurt Klitzke, Scott Sabo,
Pam Wittenwyler, Lori Schinstine and Robert Hoffmann will receive salary
increases equal to [*****] of current salary upon execution of their Employment
Agreements. In addition, each of the foregoing employees who executes an
Employment Agreement and begins work with ARW on or before June 1, 1998 will
receive a signing bonus equal to [*****] payable promptly following
satisfaction of the RTI Funding Conditions.

      2.3 RTI shall provide ARW with certain administrative support and
management services as set forth more fully on EXHIBIT 2.3 hereof ("Technical
Support").

      2.4 The Charter and By-Laws of ARW shall provide that the Board of
Directors of ARW will consist of four persons, two directors designated by
management of ARW, one director designated by RTI and one director designated
by UFTB. Initially, the management designees shall be Robert Hoffmann and Dr.
Thomas Zdeblick. RTI shall have the right to review and reasonably approve the
Charter and By-Laws of ARW. Such Charter and By-Laws shall provide that all
meetings of the Board shall be called upon 60-days notice absent a waiver of
notice by all Board members.

      2.5 Within ninety (90) days from the Effective Date herein, RTI shall
present a plan to ARW which shall provide for either ARW or those employees
set forth on EXHIBIT 2.1(b) to receive "stock options" for RTI common stock.
Such plan, when accepted by ARW, shall be attached hereto and by reference
herein, be made part of this Agreement.

                                      -2-

<PAGE>

                           III-SELECTED TISSUE MATTERS

      3.1  a.  ARW shall diligently  endeavor to meet the Selected
Tissue requirements of RTI as set forth on Exhibit 3.1(a) attached hereto,
under the terms and conditions set forth herein and shall provide such
Selected Tissue exclusively to RTI. In the event that ARW makes any
particular Tissue available to RTI and RTI, at its sole discretion, elects
not to receive such Tissues from ARW, ARW shall then have the right to
distribute such Tissues to others. All Tissues supplied by ARW to RTI
shall meet or exceed RTI's quality control, quality  assurance,  sizes
and other  requirements as set forth in the specifications provided
from time to time by RTI.

      b.  On a quarterly basis, RTI shall assess ARW's level of
activity related to the Selected Tissue requirements set forth on Exhibit
3.1(a) and RTI may adjust the Budget, at its sole discretion, and such
adjustment shall be presented to ARW in a new Budget no less than
thirty (30) days before the start of the quarter in which such adjustments
take place. In the event that ARW exceeds the Selected Tissue
Requirements it shall be entitled to a "Bonus Pool" budget increase. The
calculation basis for such Bonus Pool budget increase is attached hereto as
EXHIBIT 3.1(b).

      3.2  RTI will provide processing and distribution services for all
Selected Tissues recovered by ARW. ARW will be kept reasonably informed as
to the extent of Selected Tissue distribution in its operations area.
Marketing representatives of RTI or any distribution partner of RTI may
establish contacts with ARW for information purposes including the
indications and use of various Selected Tissue products in the ARW
operations area. RTI will provide marketing staff as needed to educate and
inform local Selected Tissue users of the availability and aspects of RTI
processed Selected Tissues.

                           IV-TERM AND TERMINATION

      The term of this Agreement shall be for a period of ten (10)
years commencing with the effective date herein (the "Initial Term")
and may be renewed upon the written agreement of the parties hereto for two
additional five year terms (each, a "Renewal Term"). This Agreement may be
terminated prior to the end of the Initial Term or any Renewal Term: (a)
by either party due to a material breach by the other party of any of its
obligations or covenants herein upon thirty (30) calendar days written notice
to the breaching party, but only if such breaching party fails to remedy
said breach within thirty (30) calendar days of such written notice; or (b)
by either party promptly upon the insolvency or filing for receivership or
bankruptcy by the other party.

                   V-OWNERSHIP OF COPYRIGHTS AND INTELLECTUAL
                             PROPERTY RIGHTS

      5.1  In connection with the performance of this Agreement, ARW will
have access to RTI's confidential and proprietary processes, methods, trade
secrets, know-how, techniques, data, training materials and other
intellectual properties developed, used or owned by RTI (the "RTI

                                      -3-

<PAGE>

Intellectual Property"). ARW agrees that all RTI Intellectual Property
will remain the exclusive property of RTI and any improvements,
modifications, advancements to, and any invention, product, or process
based upon or derived from the RTI Intellectual Property or any other RTI
proprietary information disclosed to ARW shall be the sole and exclusive
property of RTI, and ARW expressly disclaims any right, title and interest
in same. Any dispute regarding whether any invention, product, or process
developed by ARW is an improvement, modification or an advancement to, or
is based upon or derived from the RTI Intellectual Property shall be fully
and finally resolved by the written legal opinion of a licensed patent
attorney, who shall be selected by RTI, at its sole discretion.

      5.2   ARW agrees to promptly disclose any and all improvements,
modifications or advancements to any invention, product, or process based
upon or derived from the RTI Intellectual Property, or other RTI proprietary
information disclosed to ARW, which ARW may develop, have disclosed to it,
or shall otherwise become aware of. ARW further agrees to promptly assign
any of its rights to the same to RTI.

      5.3  Except as consented to in writing by RTI, ARW will not reveal,
divulge or make known to any person or entity or use for its or his or her own
account or for the account of any person, any RTI Intellectual Property
or any other confidential or proprietary information including any
information related to this Agreement, or regarding RTI and RTI
Affiliates, whether or not obtained with the knowledge and permission of
RTI. ARW also agrees upon termination of this Agreement to deliver to RTI
all written copies of RTI Intellectual Property in its possession.

      5.4   ARW agrees during the Restricted Period (as defined below), that
it will not, directly or indirectly, engage in or be financially interested
in any business activities (except for ownership of one percent or less of
any entity whose securities are listed on a national securities exchange
or the Nasdaq National Market) which are competitive with RTI. As used
herein, "Restricted Period" means the period commencing on the effective
date of this Agreement and ending on the first anniversary of the date of
termination of this Agreement. For the purposes of this covenant,
competitive activities are defined as any activities related to the
business of RTI. This definition shall be modified or interpreted from time
to time without further action by ARW in such a way as necessary to
reflect the core business of RTI.

                                   VI-OTHER

      6.1  The rights and obligations of ARW hereunder may not be sublicensed
or assigned or transferred by operation of law or otherwise without the
written consent of RTI. RTI may assign this Agreement or its rights
thereunder.

      6.2  This Agreement is governed by and shall be construed and enforced
in accordance with the internal laws of the State of Florida, without
regard to conflict of laws rules. Venue for any legal proceeding or action
at law arising out of or construing this Agreement shall lie in the

                                      -4-

<PAGE>

state courts of Alachua County, Florida, or the United States District Court
for the Northern District of Florida, Gainesville Division.

      6.3  Nothing in this Agreement shall be construed as (i) a warranty
or representation by RTI as to the validity, enforceability or scope of
any RTI patent; (ii) a warranty or representation that anything made,
used, sold, or otherwise disposed of pursuant to this Agreement is or
will be free from infringement of patents or other intangible rights of
third parties; (iii) a requirement that RTI shall file any patent
application, secure any patent, or maintain any patent in force; (iv) an
obligation on RTI to bring or prosecute actions or suits against third
parties for infringement of RTI patents; (v) an obligation to furnish any
manufacturing or technical information except as specifically provided
herein; (vi) a granting by implication, estoppel, or otherwise, any
license or rights under patents, trade secrets, know-how, copyrights,
or other intangible rights of RTI other than those specifically set forth
herein; (vii) a warranty or representation by RTI that it shall not grant
the right to others to make, use or sell products not covered by the claims
of RTI patents which may be similar or compete with ARW Tissue products.

      6.4  OTHER THAN ANY WARRANTY EXPRESSLY MADE IN THIS AGREEMENT, RTI MAKES
NO REPRESENTATIONS AND EXTENDS NO WARRANTIES OF ANY KIND, EITHER
EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY OF MERCHANTABILITY,
NON-INFRINGEMENT OR FITNESS FOR A PARTICULAR PURPOSE. RTI ASSUMES NO
RESPONSIBILITY WITH RESPECT TO THE MANUFACTURE, USE, SALE, OR OTHER
DISPOSITION OF ANY HUMAN TISSUE PRODUCT DISTRIBUTED, MADE OR USED BY ARW.

      6.5  ARW shall at all times during the term of this Agreement and
thereafter, indemnify, defend and hold UFTB, RTI, RTI Affiliates (as
hereinafter defined) or any of its assigns, harmless against all claims and
expenses, including legal expenses and reasonable attorney fees, arising
out of any other claims, proceeding, demand, expense, loss, and
liability of any kind whatsoever (collectively, "Losses") resulting
from the activities of ARW under this Agreement, except where such
Losses result from RTI's gross negligence or willful misconduct. As used
in this Agreement, "RTI Affiliates" shall mean RTI's and UFTB's trustees,
directors, officers, agents and employees. Notwithstanding the above, RTI
at all times reserves the right to retain counsel of its own to defend RTI's
interests.

      6.6  RTI shall provide for ARW's liability insurance coverage in the
amount of $5,000,000 and such insurance coverage shall list RTI as an
additional insured.

      6.7  ARW represents that it shall conduct its business in a
manner consistent with the highest standards of industry business
practices, that it shall comply with all applicable laws and regulations,
and that it shall not represent any relationship with RTI or any entity
affiliated with RTI other than as set forth herein.

                                      -5-

<PAGE>

           6.8   The right of either party to terminate under this Agreement
     shall not be an exclusive remedy, and either party shall be entitled, if
     the circumstances warrant, alternatively or cumulatively, to
     damages for breach of this Agreement, or to an order or injunction
     requiring performance of the obligations of this Agreement or to
     any other remedy available at law or equity.

           6.9   This Agreement, together with its exhibits and attachments,
     constitutes the entire agreement and understanding of the parties with
     regard to the subject matter hereof and supersedes all prior
     discussions, negotiations, understandings and agreements between the
     parties concerning the subject matter hereof. This Agreement may be
     amended only by written agreement of the parties hereto. If any term of
     this Agreement is held by a court of competent jurisdiction to be
     invalid or unenforceable, then this Agreement, including all of the
     remaining terms, will remain in full force and effect as if such invalid
     or unenforceable term had never been included.

           6.10  Each party to this Agreement hereby agrees to execute,
     acknowledge and deliver all such further instruments as may be necessary
     or appropriate to carry out the intent and purposes of this Agreement.

           6.11  The headings contained in this Agreement are for reference
     purposes only and shall not affect in anyway the meaning or
     interpretation of this Agreement.

           6.12  Neither party shall be responsible or liable to the other
     party for nonperformance or delay in performance of any terms or
     conditions of this Agreement, except for those relative to the protection
     of proprietary rights, due to circumstances beyond the control of the
     nonperforming or delayed party including, but not limited to, acts of
     God, acts of government, wars, riots, strikes or other labor disputes,
     shortages of labor or materials, fires and floods; provided the
     nonperforming or delayed party provides to the other party written notice
     of the existence and the reason for such nonperformance or delay.
     Notwithstanding the foregoing, the nonperformance or delay by any party
     in excess of 180 days shall constitute cause for termination of this
     Agreement with such notice given in writing by one party to the other.

           6.13  Any notice, report, or consent required or permitted by this
     Agreement to be given or delivered, shall be in writing and shall be
     deemed given or delivered if delivered in person, sent by courier,
     expedited delivery service, or sent by registered or certified mail,
     postage prepaid, return receipt requested, or sent by telecopy (if
     confirmed), as follows:

           If to RTI:

                 Regeneration Technologies, Inc.
                 Attn: Jamie Grooms, President and C.E.O.
                 One Innovation Drive
                 Alachua, FL 32615

                                      -6-
<PAGE>

           If to ARW:

                 Allograft Resources of Wisconsin, Inc.
                 Attn: Robert Hoffman
                 3553 University Ave.
                 Madison, Wisconsin 53705

           6.14  The relationship between ARW and RTI shall not be deemed to be
     an employee, agent or representatives of RTI. ARW shall not have any
     right to enter into any contract or commitment in the name of, or on
     behalf of the other, or to bind RTI in any respect whatsoever.

           6.15  This Agreement may be executed in several counterparts, each
     of which shall be deemed an original, and all of which shall constitute
     but one and the same instrument.

           IN WITNESS WHEREOF, the parties have caused this instrument to be
     executed in duplicate as of the day and year first above written.

ATTEST:                                REGENERATION TECHNOLOGIES, INC.

/s/ Kathleen M. Davis                  By:  /s/ Jamie M. Grooms
-----------------------------------         ----------------------------------
                                            Name:  Jamie M. Grooms
                                            Title: CEO

ATTEST:                                UNIVERSITY OF FLORIDA TISSUE BANK, INC.

/s/ Kathleen M. Davis                  By:  /s/ Nancy R. Holland
-----------------------------------         ----------------------------------
                                            Name:  Nancy R. Holland
                                            Title: CEO

ATTEST:                                ALLOGRAFT RESOURCES OF WISCONSIN, INC.

/s/ illegible                          By:  /s/ Kurt W.S. Klitzke
-----------------------------------         ----------------------------------
Notary Public--Dane Co., WIS                Name:  Kurt W. Sesemann-Klitzke
Commission Expires 9/3/2000                 Title: Executive Director

                                      -7-

<PAGE>

                            Management Services Agreement
                                  Amendment #1

Allograft Resources of Wisconsin, Inc. and Regeneration Technologies, Inc.

The Management Services Agreement between Allograft Resources of Wisconsin,
Inc. (ARW), and Regeneration Technologies, Inc. (RTI), dated June 15, 1998,
will hereby be updated to include the following covenant.

Herewith and hereafter, freight/shipping/transportation of the contractual
definition of a donor, will be the responsibility of Allograft Resources of
Wisconsin, Inc. The allowance will be made based on 1999 freight/shipping/
transportation costs to transport donor to RTI.

Using said 1999 figures, a total was accumulated of 87,727.00 for 465 donors.
This per donor cost for transportation is $188.66.

RTI will then ADD the 188.66 to the 1998 contractual commitment cost base of
[*****] per donor, making the total cost base [*****].

This effectively changes exhibit 3.1(b), to reflect the change in the
reimbursed cost per donor.

Executed this day 15, February, 2000.

IN WITNESS WHEREOF, the parties have caused this instrument to be executed in
duplicate as of the day and year above written.

ATTEST:                         REGENERATION TECHNOLOGIES, INC.

/s/ Sharon Leach                By: /s/ Nancy Holland
   -----------------               --------------------------------
                                   Nancy Holland, VP Donor Services

ATTEST:                         ALLOGRAFT RESOURCES OF WISCONSIN,
                                INC.

/s/ Gus S. Elliott              By: /s/ Robert Hoffmann
   ------------------               --------------------------------
   Gus S. Elliott                   Robert Hoffman, Board Member

<PAGE>

                   Management Services Agreement
                           Amendment #2

  Allograft Resources of Wisconsin, Inc. and Regeneration Technologies, Inc.

The Management Services Agreement between Allograft Resources of Wisconsin,
Inc. (ARW), and Regeneration Technologies, Inc. (RTI), dated June 15, 1998,
will hereby be updated to include the following covenant.

Herewith and hereafter, there will be a 50/50 split with reimbursement of
soft tissue for the negotiated rates by RTI and 50% of ARW's reimbursement
will be offset the total gross expenses in the bonus pool calculation.

This effectively changes exhibit 3.1(b), to reflect the change in the
reimbursed cost per donor.

Executed this day 15, February, 2000.

IN WITNESS WHEREOF, the parties have caused this instrument to be executed in
duplicate as of the day and year above written.

ATTEST:                                  REGENERATION TECHNOLOGIES, INC.

/s/ Sharon Leach                         By: /s/ Nancy Holland
    -----------------------                  --------------------------------
                                             Nancy Holland, VP Donor Services

ATTEST:                                  ALLOGRAFT RESOURCES OF WISCONSIN, INC.

/s/ Gus S. Elliott                       By: /s/ Robert Hoffmann
   ------------------------                  ---------------------------------
   Gus S. Elliott                            Robert Hoffmann, Board Member

<PAGE>

                                  EXHIBIT 3.1(a)
                             RTI TISSUE REQUIREMENTS

     RTI Tissue Requirements will be established jointly between RTI and ARW
and reviewed quarterly with by ARW and RTI. It is anticipated that in the
first year of operations, ARW will recover approximately [*****] bone donors,
[*****] heart valve, [*****] vascular donors, [*****] skin donors, and [*****]
dura and pericardium donors.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00011-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00011-of-00352.parquet"}]]