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EXHIBIT 4.7

DESCRIPTION OF REGISTRANT’S SECURITIES REGISTERED PURSUANT TO SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934 

The following is a brief description of the common stock, par value $0.001 per share (the “Common Stock”), of Surgalign Holdings, Inc. (“Surgalign,” the “Company,” “we,” “us” or “our”), which is the only security of the Company registered pursuant to Section 12 of the Securities Exchange Act of 1934. The following description of the terms of our Common Stock does not purport to be complete and is subject to the applicable provisions of the General Corporation Law of the State of Delaware (the “DGCL”), and is qualified in its entirety by reference to Surgalign’s Amended and Restated Certificate of Incorporation, as amended (the “Charter”), and Surgalign’s Amended and Restated Bylaws (the “Bylaws”), each of which is included as an exhibit to our Annual Report on Form 10-K and incorporated by reference herein.

Our Authorized Capital Stock

Under our Charter, we are authorized to issue 300,000,000 shares of our Common Stock and 5,000,000 shares of preferred stock, par value $0.001 per share (the “Preferred Stock”), which are issuable in one or more series on terms to be determined by the members of the board of directors of Surgalign (the “Board”). As of March 1, 2022, we had 198,771,984 shares of our Common Stock and no shares of Preferred Stock outstanding as of that date.  

Common Stock

Voting Rights. Holders of Common Stock will be entitled to one vote for each share held on all matters submitted to a vote of stockholders. At a meeting of stockholders at which a quorum is present, the vote of the holders of a majority of the shares of our capital stock having voting power present in person or represented by proxy shall decide any question brought before such meeting, unless the question is one upon which, by express provision of the statutes, of the Charter or the Bylaws, a different vote is required, in which case such express provision shall govern and control the decision of such question. Cumulative voting for the election of directors is not authorized by our Charter, which means that the holders of a majority of the shares voted can elect all of the directors then standing for election.

Dividends. Subject to preferences that may be applicable to any Preferred Stock outstanding at the time, the holders of outstanding shares of Common Stock are entitled to receive dividends out of assets legally available therefor at such times and in such amounts as our Board from time to time may determine. 

Preemptive Rights. The holders of our Common Stock do not have preemptive rights to purchase or subscribe for any of our capital stock or other securities. 

Redemption. The shares of our Common Stock are not subject to redemption. 
 
Liquidation Rights. In the event of any liquidation, dissolution or winding up of our Company, subject to the rights, if any, of the holders of other classes of our capital stock, the holders of shares of our Common Stock are entitled to receive the assets legally available for distribution to our stockholders ratably among the holders of its Common Stock after payment of liquidation preferences, if any, on any outstanding shares of Preferred Stock and payment of other claims of creditors. 

Options, Warrants and Other Stock-Based Rights. From time to time, we have issued and expect to continue to issue options and other stock-based rights, including warrants and restricted stock units to various lenders, investors, consultants, employees, officers and directors of our Company. As of March 1, 2022, we have outstanding (i) stock options to purchase 2,886,254 shares of our Common Stock, (ii) 529,394 shares of Common Stock issuable upon the vesting of outstanding restricted stock awards, (iii) 5,276,215 shares of Common Stock issuable upon vesting of outstanding restricted stock units, (iv) warrants to purchase an aggregate of 28,985,508 shares of Common Stock, with an exercise price equal to $1.725 per share, which are exercisable through June 14, 2024, (v) additional warrants to purchase an aggregate of 1,739,130 shares of Common Stock, with an exercise price equal to $2.15625 per share, which are exercisable through June 14, 2024, (vi) additional warrants to purchase an aggregate of 37,500,000 shares of Common Stock, with an exercise price equal to $0.60 per share, which are exercisable through February 15, 2027, and (vii) additional underwriter warrants to purchase an aggregate of 2,608,696 shares of Common Stock with an exercise price equal to $0.575 per share, which are exercisable through February 10, 2027. In addition, in connection with prior acquisitions, we have granted rights to receive shares of our Common Stock as a part of contingent consideration arrangements. See our Annual Report on Form 10-K for more information on such contingent consideration arrangements.

Certain Anti-Takeover Provisions

Delaware Law 

We are subject to Section 203 of the DGCL (“Section 203”). In general, Section 203 prohibits a publicly held Delaware corporation from engaging in “business combination” transactions with any “interested stockholder” for a period of three years following the time that the stockholder became an interested stockholder, unless: 
•prior to the time the stockholder became an interested stockholder, either the applicable business combination or the transaction that resulted in the stockholder becoming an interested stockholder is approved by the corporation’s board of directors; 
•upon consummation of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding for purposes of determining the voting stock outstanding (but not the voting stock owned by the interested stockholder) shares owned by directors who are also officers of the corporation and shares owned by employee stock plans in which the employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or 
• at or subsequent to the time that the stockholder became an interested stockholder, the business combination is approved by the corporation’s board of directors and authorized at an annual or special meeting of stockholders by the affirmative vote of at least 66 2/3% of the outstanding voting stock which is not owned by the interested stockholder.
A “business combination” is defined to include, in general and subject to exceptions, a merger of the corporation with the interested stockholder; a sale, transfer, pledge or other disposition of 10% or more of the market value of the corporation’s consolidated assets to the interested stockholder; certain transactions that result in the issuance or transfer of the corporation’s stock to the interested stockholder; a transaction that has the effect of increasing the proportionate share of the corporation’s stock owned by the interested stockholder; and any receipt by the interested stockholder of loans, guarantees or other financial benefits provided by the corporation. An “interested stockholder” is defined to include, in general and subject to exceptions, a person that (1) owns 15% or more of the outstanding voting stock of the corporation or (2) is an “affiliate” or “associate” (as defined in Section 203) of the corporation and was the owner of 15% or more of the corporation’s outstanding voting stock at any time within the prior three-year period.

A Delaware corporation may opt out of Section 203 with an express provision in its original certificate of incorporation or by an amendment to its certificate of incorporation or bylaws expressly electing not to be governed by Section 203 and approved by a majority of its outstanding voting shares. We have not opted out of Section 203. As a result, Section 203 could delay, deter or prevent a merger, change of control or other takeover of our Company that our stockholders might consider to be in their best interests, including transactions that might result in a premium being paid over the market price of our Common Stock, and may also limit the price that investors are willing to pay in the future for our Common Stock.

Charter and Bylaws – General

Our Charter and Bylaws contain provisions that could discourage, delay or prevent a change of control of our Company or changes in management that our stockholders might deem advantageous, including transactions in which stockholders might otherwise receive a premium for their shares. As a result of these provisions, the price investors may be willing to pay for shares of our Common Stock may be limited, thereby depressing the market price of our Common Stock. Moreover, these provisions may frustrate or prevent any attempts by our stockholders to replace or remove our current management by making it more difficult for stockholders to replace members of our Board. Because our Board is responsible for appointing the members of our management team, these provisions could in turn affect any attempt by our stockholders to replace current members of our management team. 

These provisions, summarized below, are intended to discourage coercive takeover practices and inadequate takeover bids. These provisions are also designed to encourage persons seeking to acquire control of us to first negotiate with our Board. We believe that the benefits of the increased protection of our potential ability to negotiate with the proponent of an unfriendly or unsolicited proposal to acquire or restructure us outweigh the disadvantages of discouraging these proposals because negotiation of these proposals could result in an improvement of their terms. 

Undesignated Preferred Stock 

The ability to authorize undesignated Preferred Stock, without action by the stockholders, makes it possible for our Board to issue one or more series of Preferred Stock with voting or other rights or preferences. Thus, our Board 

could authorize the issuance of shares of Preferred Stock that have priority over our Common Stock with respect to dividends or rights upon liquidation or with terms and conditions that could have the effect of delaying, deferring or preventing a transaction or a change of control of our Company that might involve a premium price for holders of our Common Stock or otherwise be in their best interests. 

Requirements for Advance Notification of Stockholder Nominations and Proposals 

Our Bylaws establish advance notice procedures with respect to stockholder proposals and the nomination of candidates for election as directors, other than nominations made by or at the direction of the Board or a committee of the Board, which may discourage or deter a potential acquirer from conducting a solicitation of proxies to elect the acquirer’s own slate of directors or otherwise attempting to obtain control of us. 

Stockholder Action by Written Consent

Our Charter provides that our stockholders may not take action by written consent, but may only take action at annual or special meetings of our stockholders. As a result, a holder controlling a majority of our capital stock would not be able to amend our Bylaws or remove directors without holding a meeting of our stockholders called in accordance with our Bylaws.

Exclusive Forum 

Our Bylaws specify that, unless a majority of our Board consents in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware will be the sole and exclusive forum for (i) any derivative action or proceeding brought on behalf of the Company under Delaware law, (ii) any action asserting a claim of breach of a fiduciary duty owed by any current or former director, officer or other employee of the Company to the Company or the Company’s stockholders, (iii) any action asserting a claim against the Company or any of its directors, officers or other employees arising pursuant to any provision of the DGCL, our Bylaws or our Charter, (iv) any action asserting a claim against the Company or any of its directors, officers or other employees governed by the internal affairs doctrine of the State of Delaware or (v) any other action asserting an “internal corporate claim,” as defined in Section 115 of the DGCL, in all cases subject to the court’s having personal jurisdiction over all indispensable parties named as defendants. If the Court of Chancery does not have jurisdiction over any such action, then another state court located within the State of Delaware or, if no court located within the State of Delaware has jurisdiction, the federal district court for the District of Delaware, will be the sole and exclusive forum for such action. Our Bylaws also provide that, unless a majority of our Board consents in writing to the selection of an alternative forum, the federal district courts of the United States of America, to the fullest extent permitted by law, will be the exclusive forum for the resolution of any complaint asserting a cause of action arising under the Securities Act. These exclusive forum provisions may have the effect of discouraging lawsuits against our directors and officers. 
 
The provisions of the DGCL, our Charter and our Bylaws could have the effect of discouraging others from attempting hostile takeovers and, as a consequence, they may also inhibit temporary fluctuations in the market price of our Common Stock that often result from actual or rumored hostile takeover attempts. These provisions may also have the effect of preventing changes in our management. It is possible that these provisions could make it more difficult to accomplish transactions that stockholders may otherwise deem to be in their best interests. 

Transfer Agent 

The transfer agent for our Common Stock is Broadridge Financial Solutions, Inc., 2 Gateway Center, 283-299 Market Street, 15th Floor, Newark, New Jersey 07102. 

Stock Exchange Listing 

Our Common Stock is listed on the Nasdaq Global Select Market under the symbol “SRGA.”Document

Exhibit 10.23

INVOLUNTARY TERMINATION AGREEMENT

THIS INVOLUNTARY TERMINATION AGREEMENT (this "Agreement") is entered into effective as of January 13, 2020 (the "Effective Date"), by and between RTI Surgical Holdings, Inc., a Delaware corporation (the "Company"), and Enrico Sangiorgio (the "Executive").

1.Definitions. As used in this Agreement, the following terms have the respective meanings set forth below:

(a)"Accrued Obligations" means the sum of the following payments accrued by the Executive as of the Termination Date, to the extent not yet paid: (i) base salary, to the extent earned; (ii) any bonus, annual incentive compensation, deferred compensation, and other cash compensation, to the extent earned; and (iii) any vacation pay, expense reimbursements, and other cash entitlements.

(b)"Affiliate" means any corporation or other entity (i) in which the Company has a direct or indirect ownership interest of 50% or more of the total combined voting power of the then-outstanding securities of such corporation or other entity entitled to vote generally in the election of directors or (ii) that has a direct or indirect ownership interest of 50% or more of the total combined voting power of the then-outstanding securities of the Company entitled to vote generally in the election of directors.

(c)"Board" means the Board of Directors of the Company.

(d)"Cause" means the occurrence of any of the following events, unless, to the extent remedy is reasonably feasible, such event is fully remedied by the Executive in all material respects within 15 days after the Company provides written notification of the occurrence of such event to the Executive:

(i)the Executive's willful misconduct or gross negligence in the performance of the Executive's material duties to the Company;

(ii)the Executive's failure to perform the Executive's material duties to the Company or to follow the lawful directives of the Board or the officer to whom the Executive reports (other than as a result of death or disability);

(iii)indictment or conviction of the Executive, or pleading by the Executive of guilty or nolo contendere to, any felony or any crime involving moral turpitude;

(iv)the Executive's violation of any laws, rules or regulations of any governmental or regulatory body, which violation is or is reasonably likely to be materially injurious to the Company's financial condition or reputation;

(v)the Executive's failure to cooperate in any audit or investigation of the business or financial practices of the Company or any of its subsidiaries;

(vi)the Executive's performance of any act of theft, embezzlement, fraud, material malfeasance, material dishonesty or misappropriation of the Company's property;

(vii)breach by the Executive of a provision of this Agreement or any agreement with the Company, or a violation by the Executive of the Company's code of conduct or any other written policy, which breach or violation is or is reasonably likely to be materially injurious to the Company's financial condition or reputation;

(viii)the Executive's possession or use of illegal drugs;

(ix)the Executive's legal use of alcohol or controlled substances in a manner that materially impairs the Employee's ability to effectively perform his job; or

(x)the Executive's commission of any act that is or is reasonably likely to be materially injurious to the Company's financial condition or reputation.

The Company shall provide the Executive with a written notice detailing the specific circumstances alleged to constitute Cause within 30 days after the Company becomes aware of such circumstances, and may terminate the Executive's employment within 10 days following the expiration of the Executive's 15-day cure period described above, to the extent remedy is reasonably feasible.

(e)"Code" means the Internal Revenue Code of 1986, as amended.

(f)"Good Reason" means, without the written consent of the Executive, the occurrence of any one or more of the following:

(i)a material reduction of the Executive's base salary or target annual
bonus;

(ii)a material diminution in the Executive's position, duties, authority, or responsibilities (other than temporarily while the Executive is physically or mentally incapacitated); or

(iii)the Company's material breach of this Agreement or any agreement between the Company and the Executive.

Notwithstanding the foregoing, no condition may constitute Good Reason unless (A) the Executive provides written notice to the Company of the existence of such condition no later than 60 days after the Executive knows or reasonably should know of the existence of such condition, (B) the Company fails to remedy such condition within 30 days after receipt of such notice, and (C) the Executive resigns due to the existence of such condition within 60 days after the expiration of the remedial period described in clause (B).
(g)"Involuntary Termination" means termination of the Executive's employment by the Company without Cause or the Executive's resignation for Good Reason.
			
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(h)"Subsidiary'' means, with respect to the Company, any corporation, limited liability company, partnership or other business entity: (i) of which 50% or more of any class of capital stock or other equity interest is owned or controlled, directly or indirectly, by the Company; or (ii) of which the Company is a general partner.

(i)"Termination Date" means (i) the date of the Executive's separation from service, within the meaning of the Code, or (ii) if the Executive's employment by the Company terminates by reason of death, the date of death, or disability, the date of disability.

(j)    "Transition Period" means the period beginning on the Triggering Event and ending six months after the Triggering Event.

(k)    "Triggering Event" means the appointment of a new Company CEO.

2.Term. This Agreement will remain in effect for a two-year term beginning as of the Effective Date (the "Term") unless either the Company or the Executive provides notice of termination of the Agreement to the other at least 90 days prior to the expiration of the Term; provided that no such early termination has the effect of reducing or diminishing the rights of the Executive under this Agreement without the written consent of the Executive.

3.General Severance Terms.

(a)In exchange for the rights granted to the Executive under this Agreement, the Executive unconditionally and irrevocably waives any rights and benefits that may be applicable to him or her under any policy of the Company related to the termination of the Executive's employment with the Company.

(b)Notwithstanding any provision of this Agreement that could be interpreted to the contrary, the Executive acknowledges that the consummation of the sale of all or any portion of the Company's OEM business (whether effectuated as a sale of equity of subsidiaries of the Company, the sale of assets, a merger or consolidation or otherwise, or in one or more transactions) shall not constitute a change in control for purposes of the vesting of any equity awarded to you by the Company.
(c)If the Executive breaches in any material respect any restrictive covenants in any agreement between the Executive and the Company or any of its Affiliates, including any non-competition, non-solicitation, non-disparagement, or confidentiality covenant (the "Restrictive Covenants"), and fails to remedy such breach within 30 days after receipt of written notice of such breach from the Company, (i) the Executive's entitlement to the payments and benefits set forth in Section 4 shall be null and void; (ii) all rights to receive or continue to receive severance payments and benefits will cease; and (iii) the Executive must immediately repay to the Company all amounts already paid to, and the value of all benefits already received by, the Executive pursuant to Section 4. The foregoing does not limit any other rights or remedies the Company may have existing in its favor, including injunctive relief.
(d)If the Executive's employment with the Company terminates for any reason, the Company shall pay the Executive all Accrued Obligations within 15 days
			
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following the Termination Date (except to the extent payment of such Accrued Obligation is required to be paid later pursuant to the terms of an applicable plan or agreement), regardless of whether the Executive complies with the Release Requirement (as defined below) or the Restrictive Covenants.

4.Payments upon an Involuntary Termination in the Transition Period. In the event of an Involuntary Termination during the Transition Period, and provided the Executive executes and has not revoked a general release agreement in a form prescribed by the Company within 30 days after the Termination Date (the "Release Requirement"), the Company will provide the Executive with the following benefits:

(a)an amount equal to 12 times the Executive's monthly base salary as of the Termination Date, payable, at the Company's option, either: (i) in substantially equal installments on the Company's regularly scheduled payroll dates over a 12-month period, and commencing within 30 days after the Termination Date; or (ii) in a lump sum within 30 days following the Termination Date; provided any portion of the payment to be made pursuant to this Section 4(a) that is considered deferred compensation, within the meaning of Section 409A of the Code, shall be paid in accordance with clause (i) of this Section 4(a), to the extent required by Section 409A of the Code; and

(b)vesting of all equity awards in the event of an Involuntary
Termination.

5.Other Termination of Employment. If the employment of the Executive terminates for any reason other than an Involuntary Termination, then the Executive will receive payment of only the Accrued Obligations.

6.Section 280G. To the extent that any payment or distribution to or for the benefit of the Executive pursuant to the terms of this Agreement or any other plan, arrangement, or agreement with the Company, any of its affiliated companies, any person whose actions result in a change of ownership or effective control covered by Section 280G(b)(2) of the Code, or any person affiliated with the Company or such person, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise (the "Payments"), would be subject to the excise tax (the "Excise Tax") imposed by Section 4999 of the Code, then the Company will reduce the payments to the amount that is (after taking into account federal, state, local, and social security taxes at the maximum marginal rates, and including any excise taxes imposed by Section 4999 of the Code) one dollar less than the amount of the Payments that would subject the Executive to the Excise Tax (the "Safe Harbor Cap").

7.Withholding Taxes. The Company may withhold from all payments due to the Executive (or the Executive's beneficiary or estate) hereunder all taxes that, by applicable federal, state, local, or other law, the Company is required to withhold therefrom. The Company may also reduce the amounts otherwise payable pursuant to this Agreement to satisfy the Executive's required contributions for the health coverage being provided hereunder.

8.Amendment and Waiver. No provision of this Agreement may be amended, modified, or waived unless such amendment, modification, or waiver is agreed to in
			
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writing and signed by the Executive and by a duly authorized officer of the Company; provided that the Company may amend the Agreement in a manner that is beneficial to the interests of the Executive without the Executive's written consent. No waiver by any party hereto at any time of any breach by the other party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such other party will be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. Failure by the Executive or the Company to insist upon strict compliance with any provision of this Agreement or to assert any right the Executive or the Company may have hereunder will not be deemed to be a waiver of such provision or right or any other provision or right of this Agreement. Except as otherwise expressly set forth in this Agreement or in any agreement with respect to any equity ownership interest in the Company owned by the Executive, the rights of, and benefits payable to, the Executive pursuant to this Agreement are in addition to any rights against, or benefits payable by, third parties (i.e., persons other than the Company or any of its Affiliates), to the Executive under any other employee benefit plan or program of the Company.

9.Scope of Agreement. Nothing in this Agreement entitles the Executive to continued employment with the Company or its subsidiaries or any of their respective Affiliates. Any amounts paid pursuant to this Agreement are in lieu of any other amounts of severance relating to salary, incentive or other bonus compensation, or equity compensation to be received by the Executive from the Company or its Affiliates upon termination of employment of the Executive under any employment, employee benefit, equity compensation, or severance plan or agreement, policy, or similar arrangement of the Company or its Affiliates in effect as of the date hereof; provided that nothing in this Section 9 affects the Executive's rights with respect to any equity ownership interest in the Company. If the Company or any of its Affiliates are obligated by law to pay severance pay, notice pay, or similar benefits, or if the Company or any of its Affiliates are obligated by law to provide advance notice of separation ("Notice Period"), then the payments made under this Agreement will be reduced by the amount of any such severance, notice pay, or similar benefits, as applicable, and by the amount of any severance pay, notice pay, or similar benefits received during any Notice Period.
10.Successors; Binding Agreement.

(a)This Agreement will not terminate upon any merger or consolidation of the Company, whether or not the Company is the surviving or resulting corporation, as a result of any transfer or sale of all or substantially all of the assets of the Company. In the event of any such merger, consolidation, transfer or sale of assets, the provisions of this Agreement will be binding upon the surviving or resulting corporation or the person or entity to which such assets are transferred.

(b)This Agreement shall be binding upon and inure to the benefit of the parties named in this Agreement and their respective successors and permitted assigns. No party may assign either this Agreement or any of its rights, interests, or obligations under this Agreement; provided, however, that the Company may assign this Agreement to any successor, purchaser of all or substantially all of the assets of the Company. Any attempted assignment of this Agreement or any rights, interests, or obligations under this Agreement not in accordance with the terms of this Section 1O(b) shall be void.

			
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11.Section 409A Compliance.  This Agreement is intended to comply with the requirements of Section 409A of the Code, and shall be interpreted and construed consistently with such intent. The payments to the Executive pursuant to this Agreement are also intended to be exempt from Section 409A of the Code to the maximum extent possible, under either the separation pay exemption pursuant to Treasury regulation §1.409A-1(b)(9)(iii) or as short-term deferrals pursuant to Treasury regulation §1.409A-1(b)(4), and for such purposes, each payment to the Executive under this Agreement shall be considered a separate payment. In the event the terms of this Agreement would subject the Executive to taxes or penalties under Section 409A of the Code ("409A Penalties"), the Company and the Executive shall cooperate diligently to amend the terms of the Agreement to avoid such 409A Penalties, to the extent possible; provided that in no event shall the Company be responsible for any 409A Penalties that arise in connection with any amounts payable under this Agreement. To the extent any amounts under this Agreement are payable by reference to the Executive's ''termination of employment," such term and similar terms shall be deemed to refer to the Executive's "separation from service," within the meaning of Section 409A of the Code.   Notwithstanding any other provision in this Agreement, to the extent any payment hereunder constitutes nonqualified deferred compensation, within the meaning of Section 409A of the Code, and the Executive is a specified employee (within the meaning of Section 409A of the Code) as of the date of the Executive's separation from service, each such payment that is payable upon the Executive's separation from service and would have been paid prior to the six-month anniversary of the Executive's separation from service, shall be delayed until the earlier to occur of (i) the first day of the seventh month following the Executive's separation from service or (ii) the date of the Executive's death.  Any reimbursement payable to the Executive pursuant to this Agreement shall be conditioned on the submission by the Executive of all expense reports reasonably required by the Company under any applicable expense reimbursement policy, and shall be paid to the Executive in accordance with the Company's expense reimbursement policy, but in no
event later than the last day of the calendar year following the calendar year in which the Executive incurred the reimbursable expense. Any amount of expenses eligible for reimbursement, or in-kind benefit provided, during a calendar year shall not affect the amount of expenses eligible for reimbursement, or in-kind benefit to be provided, during any other calendar year. The right to any reimbursement or in-kind benefit pursuant to this Agreement shall not be subject to liquidation or exchange for any other benefit.

12.Notices.

(a)    For purposes of this Agreement, all notices and other communications required or permitted hereunder must be in writing and will be deemed to have been duly given:
(a)when delivered personally to the recipient; (b) two business days after being sent to the recipient by reputable international overnight courier service (charges prepaid); or (c) on the date sent by facsimile transmission or electronic mail if sent during normal business hours of the recipient, and on the next business day if sent after normal business hours of the recipient, addressed: (i) if to the Executive, to the home address of the Executive on the most current Company records; (ii) if to the Company, to RTI Surgical, Inc., 520 Lake Cook Road, Suite 315, Deerfield, Illinois 60015; or (iii) to any other address that either party may have furnished to the

other in writing in accordance with the notice requirements of this Section 12 (provided that such notice has been received by the other party).

			
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(b)A written notice of the Executive's Termination Date by the Company or the Executive to the other must (i) indicate the specific provision in this Agreement applicable to such termination; (ii) to the extent applicable, set forth in reasonable detail the facts and circumstances claimed to provide a basis for the application of such provision to the termination of the Executive's employment; and (iii) specify the Termination Date. The failure by the Executive or the Company to set forth in such notice any fact or circumstance that contributes to a showing of Good Reason or Cause will not waive any right of the Executive or the Company hereunder or preclude the Executive or the Company from asserting such fact or circumstance in enforcing the Executive's or the Company's rights hereunder.

13.Mitigation and Offset; Attorneys' Fees and Expenses.

(a)The Company's obligation to make any payments provided in this Agreement and otherwise to perform its obligations hereunder will not be affected by any set-off, counterclaim, recoupment, defense, or other claim, right, or action that the Company may have against the Executive or others, except as provided in Section 3(a) or Section 14.  In no event will the Executive be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to the Executive under this Agreement, except as provided in Section 3(a), and such amounts will not be reduced whether or not the Executive obtains other employment,

(b)The Company and the Executive shall each bear their own attorney's fees and expenses incurred in connection with any claim or dispute between them relating to or arising out of this Agreement.

14.Clawback Policy. Notwithstanding anything to the contrary herein, all incentive compensation paid to the Executive in connection with the Executive's employment with the Company will be subject to forfeiture, recovery by Company, or other action pursuant to any clawback or recoupment policy that the Company may adopt to the extent the Board determines in its sole discretion that the adoption and maintenance of such policy is necessary to comply with the Dodd-Frank Wall Street Reform and Consumer Protection Act and implementing rules and regulations thereunder, or is otherwise required by applicable law.
15.Governing Law; Validity. The interpretation, construction and performance of this Agreement will be governed by and construed and enforced in accordance with the internal laws of the State of Delaware without regard to the principle of conflicts of laws. The invalidity or unenforceability of any provision of this Agreement will not affect the validity or enforceability of any other provisions of this Agreement, which other provisions will remain in full force and effect.
16.Counterparts. This Agreement may be executed in two counterparts (including by means of facsimile transmission or electronic mail), each of which will be deemed to be an original and both of which together will constitute one and the same instrument. A
			
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manual signature on this Agreement, an image of which shall have been transmitted electronically, will constitute an original signature for all purposes.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
			
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[Signature Page to Involuntary Termination Agreement]

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

RTI SURGICAL HOLDINGS, INC.
By:    
           
Name: Camille I. Farhat
Title: President and Chief Executive Officer

        Enrico Sangiorgio

[Signature Page to Involuntary Termination Agreement]

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