Document:

exh_1024.htm

Exhibit 10.24

 

AMENDMENT NO. 2 AND SUPPLEMENT

 

TO FIRST PREFERRED FLEET MORTGAGE

 

This Amendment No. 2 and Supplement to FIRST PREFERRED FLEET MORTGAGE dated as of April 30, 2012 and effective as of April 30, 2012, (this "Agreement") is among GLOBAL GEOPHYSICAL SERVICES, INC., a Delaware corporation (the "Shipowner"), and BANK OF AMERICA, N.A., a national banking association, as administrative agent, as mortgagee (in such capacity, the "Mortgagee").

 

INTRODUCTION

 

A. The Shipowner and the Mortgagee are parties to the First Preferred Fleet Mortgage dated as of April 30, 2010 (as the same may be amended, amended and restated, or otherwise modified from time to time, the "Mortgage") bearing against the whole of the United States flag vessels (as more specifically described on Schedule I), together with all of the boilers, engines, generators, drilling machinery and equipment, pumps and pumping equipment, machinery, masts, spars, sails, boats, anchors, cables, chains, rigging, tackle, outfit, apparel, furniture, fittings, equipment, spares, fuel, stores and all other appurtenances thereunto appertaining or belonging, and also any and all additions, improvements and replacements hereafter made in or to such vessels, or any part thereof, or in or to their equipment and appurtenances aforesaid (collectively, the "Vessels").  The Mortgage was duly filed with the United States Coast Guard, National Vessel Documentation Center, on May 6, 2010 at 10:23 a.m. and recorded as Batch No. 743520, Document ID No. 11973333.

 

B. The Shipowner is a party to the Credit Agreement dated as of April 30, 2010 (as the same may be amended, amended and restated, or otherwise modified from time to time, the "Credit Agreement") among the Shipowner, as borrower, Bank of America, N.A., as Administrative Agent, Swing Line Lender, and L/C Issuer, Credit Suisse, as Syndication Agent, Merrill Lynch, Pierce, Fenner & Smith Incorporated, successor-by-merger to Banc of America Securities LLC, as Sole Lead Arranger and Sole Book Manager, and the other lenders party thereto (the "Lenders"), pursuant to which the Lenders have agreed from time to time to extend credit and/or issue letters of credit for the benefit of the Shipowner in an aggregate amount up to Seventy Million United States Dollars (US$70,000,000.00) which amount is currently the principal amount of the Mortgage.  The Credit Agreement provided for certain increases of such amount.

 

C. The Mortgage was granted by the Shipowner in favor of the Mortgagee to secure the obligations of the Shipowner under the Credit Agreement and the other Loan Documents, and the payment of all other sums of money (whether for principal, premium, if any, interest, fees, expenses, indemnities or otherwise) from time to time payable by the Shipowner under the Mortgage and the other Loan Documents to which it is a party, and to secure performance and observance of all other Obligations (as defined in the Mortgage).

 

D. The Shipowner and the Mortgagee desire to amend the Mortgage to add the Additional Vessels (as defined below) and to confirm that the obligations, liabilities and indebtedness of the Shipowner to the Mortgagee arising under the Credit Agreement, and under all Loan Documents related thereto, are obligations the payment and performance of which are secured by the lien of the Mortgage.

 

  

  

  

THEREFORE, the Shipowner and the Mortgagee hereby agree as follows:

 

Section 1. Definitions; References.  Unless otherwise defined in this Agreement, terms used in this Agreement which are defined in the Mortgage shall have the meanings assigned to such terms in the Mortgage.

 

Section 2. Amendments of Mortgage. The Mortgage is hereby amended as follows:

 

(a)           To confirm that the "Obligations" which are or may become secured by the Mortgage expressly include, without limitation, all obligations, liabilities and indebtedness of the Shipowner under the Credit Agreement, as amended, under all Loan Documents related to the Credit Agreement, as amended, including the Mortgage, and under any extensions or renewals of, amendments to, or replacements for any of the foregoing.

 

(b)           To confirm that the term "Credit Agreement" wherever such term appears on page one and in Sections 1 through 3.11 of the Mortgage, means the Credit Agreement, as amended.

 

(c)           To confirm that the term "Mortgage", as used in the Mortgage, means the Mortgage, as amended by this Agreement.

 

(d)           The Mortgage, including all of the covenants and agreements on the part of the Shipowner which are set forth therein or are incorporated therein by reference, and all of the rights, privileges, powers and immunities of the Mortgagee that are provided for in the Mortgage, are in all respects confirmed, affirmed, reaffirmed and continued.

 

(e)           To replace Schedule I attached to the Mortgage in its entirety with Schedule I attached to this Agreement.

 

Section 3. Supplement to Mortgage.  In order to secure the obligations of the Shipowner under the Credit Agreement and the other Loan Documents, and the payment of all other sums of money (whether for principal, premium, if any, interest, fees, expenses, indemnities or otherwise) from time to time payable by the Shipowner under the Mortgage and the other Loan Documents to which it is a party, and to secure performance and observance of all other Obligations (as defined in the Mortgage), the Shipowner has GRANTED, CONVEYED and MORTGAGED and does by these presents GRANT, CONVEY and MORTGAGE unto the Mortgagee for the benefit of the Lenders and their respective successors and assigns, the whole (100%) of each vessel named and further described in its last marine document issued and identified as follows:

 

	
Vessel Name

	
Shipowner

	
Flag

	
Official

Number

	
Kiwi I

	
Global Geophysical Services, Inc.

	
USA

	
1231575

	
Kiwi II

	
Global Geophysical Services, Inc.

	
USA

	
1231576

	
Kiwi III

	
Global Geophysical Services, Inc.

	
USA

	
1231577

 

  

-2-

  

together with all of the boilers, engines, generators, drilling machinery and equipment, pumps and pumping equipment, machinery, masts, spars, sails, boats, anchors, cables, chains, rigging, tackle, outfit, apparel, furniture, fittings, equipment, spares, fuel, stores and all other appurtenances thereunto appertaining or belonging, and also any and all additions, improvements and replacements hereafter made in or to such vessels, or any part thereof, or in or to their equipment and appurtenances aforesaid (collectively, the "Additional Vessels").

 

TO HAVE AND TO HOLD the same unto the Mortgagee for the benefit of the Lenders and their respective successors and assigns forever, upon the terms set forth in the Mortgage.

 

Section 4. Representations and Warranties.  The Shipowner represents and warrants that: (a) the execution, delivery, and performance of this Agreement are within the corporate power and authority of the Shipowner and have been duly authorized by all necessary corporate or other organizational action; (b) this Agreement constitutes legal, valid, and binding obligations of the Shipowner, enforceable in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws of general applicability affecting the enforcement of creditors' rights and the application of  general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or law); (c) the representations and warranties of the Shipowner contained in each Loan Document are true and correct in all material respects as of the date of this Agreement, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they call be true and correct in all material respects as of such earlier date; (d) no Default or Event of Default exists under the Loan Documents; and (e) the Liens under the Mortgage and the other Collateral Documents (as defined in the Credit Agreement) are valid and subsisting..

 

Section 5. Effect on Credit Documents.  Except as amended herein, the Mortgage and all other Credit Documents remain in full force and effect as originally executed. Nothing herein shall act as a waiver of any of the Mortgagee's or any Lender's rights under the Loan Documents as amended, including the waiver of any Default or Event of Default, however denominated. The Shipowner acknowledges and agrees that this Agreement shall in no manner impair or affect the validity or enforceability of the Mortgage.  This Agreement is a Loan Document for the purposes of the provisions of the other Loan Documents.  Without limiting the foregoing, any breach of representations, warranties, and covenants under this Agreement may be a Default or Event of Default under other Loan Documents

 

Section 6. Effectiveness.  This Agreement shall become effective and the Mortgage shall be amended as provided for herein when each of the parties hereto shall have executed and delivered this Agreement. This Agreement may be executed in multiple counterparts which together shall constitute one and the same agreement.

 

 [The rest of this page has been left intentionally blank.]

 

 

  

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IN WITNESS WHEREOF, the Shipowner has executed this Mortgage on the 30th day of April, 2012, and is effective as of the date and year first above written.

 

SHIPOWNER:

 

GLOBAL GEOPHYSICAL SERVICES, INC., a Delaware corporation

 

 

 

By: /s/ P. Mathew Verghese 

Name: P. Mathew Verghese 

Title: Sr. VP and CFO

 

 

	
STATE OF TEXAS

	
)

	
 

	

) ss.:

	
COUNTY OF FORT BEND

	
)

 

 

On this 30th day of April, 2012, before me personally appeared P. Mathew Verghese, to me known, who being by me duly sworn, did depose and say that s/he resides at ______________________________________________________; that s/he is an authorized individual of GLOBAL GEOPHYSICAL SERVICES, INC., the company described in and which executed the foregoing instrument; and that s/he signed her/his name thereto by order of the Board of Directors of said company and that said instrument is the act and deed of said company.

 

Notary Public in and for the

State of Texas

[Notarial Seal]                                                                               Printed Name: Teresa Perez Garcia

My Commission Expires: 1/13/2016

  

Signature Page to Amendment No. 2 and Supplement to First Preferred Fleet Mortgage

U.S.A.

  

MORTGAGEE:

 

BANK OF AMERICA, N.A., a National Banking Association, as Administrative Agent

 

 

 

By: /s/ DeWayne D. Rosse

Name: DeWayne D. Rosse

Title: Agency Management Officer

 

	
STATE OF TEXAS

	
)

	
 

	

) ss.:

	
COUNTY OF DALLAS

	
)

 

On this 18th day of April, 2012, before me personally appeared DeWayne D. Rosse, to me known, who being by me duly sworn, did depose and say that s/he resides at ______________________________________________________; that s/he is an authorized individual of BANK OF AMERICA, N.A., the company described in and which executed the foregoing instrument; and that s/he signed her/his name thereto by order of the Board of Directors of said company and that said instrument is the act and deed of said company.

 

Notary Public in and for the

State of Texas

[Notarial Seal]                                                                               Printed Name: Antonikia L. Thomas

My Commission Expires:11-28-15

  

Signature Page to Amendment No. 2 and Supplement to First Preferred Fleet Mortgage

U.S.A.

  

SCHEDULE I

TO

FIRST PREFERRED FLEET MORTGAGE

DESCRIPTION OF THE VESSELS

 

 

	
Vessel Name

	
Official Number

	
Global Mirage

	
1060662

	
Global Quest

	
1050795

	
Global Vision

	
1058458

	
James H. Scott

	
1172960

	
Global Longhorn

	
1208913

	
Lori B

	
1111303

	
Kiwi I

	
1231575

	
Kiwi II

	
1231576

	
Kiwi III

	
1231577

 

  

Schedule I to Amendment No. 2 and Supplement to First Preferred Fleet Mortgage

U.S.A.

  

ADDRESS FOR SHIPOWNER AND MORTGAGEE

 

SHIPOWNER:

 

Global Geophysical Services, Inc.

13927 South Gessner Road

Missouri City, Texas 77489

Attention:  P. Mathew Verghese

Facsimile: (713) 808-7321

 

MORTGAGEE:

 

Bank of America, N.A.

Agency Management Service

901 Main Street

Dallas, Texas 75202

Attention:  Michelle Diggs

Facsimile: (214) 290-4126

 

Attachment to First Preferred Fleet Mortgage

U.S.A.EX-10.40

 Exhibit 10.40 
 NQO Grant
No.:                                        
          
 NON-QUALIFIED STOCK OPTION AGREEMENT 

ALPHATEC HOLDINGS, INC. 
 AGREEMENT made as of the ________________________, between Alphatec Holdings, Inc. (the “Company”), a Delaware corporation, and ____________________, (the “Participant”). 

WHEREAS, the Company desires to grant to the Participant an Option to purchase shares of its Common Stock, $.0001 par value per share
(the “Shares”), under and for the purposes set forth in the Company’s 2005 Employee, Director and Consultant Stock Plan, as amended (the “Plan”); 
 WHEREAS, the Company and the Participant understand and agree that any terms used and not defined herein have the same meanings as in the Plan; and 

WHEREAS, the Company and the Participant each intend that the Option granted herein shall be a Non-Qualified Option. 

NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth and for other good and valuable consideration, the parties
hereto agree as follows: 
 1. GRANT OF OPTION. 
 The Company hereby grants to the Participant the right and option to purchase all or any part of an aggregate of _____________________ Shares, on the terms and conditions and subject to all the
limitations set forth herein, under United States securities and tax laws, and in the Plan, which is incorporated herein by reference. The Participant acknowledges receipt of a copy of the Plan. 

2. PURCHASE PRICE. 
 The purchase price of the Shares covered by the Option shall be ___________________________ per Share, subject to adjustment, as provided in the Plan, in the event of a stock split, reverse stock split or
other events affecting the holders of Shares after the date hereof (the “Purchase Price”). Payment shall be made in accordance with Paragraph 8 of the Plan. 
 3. EXERCISABILITY OF OPTION. 
 Subject to the terms and conditions set forth
in this Agreement and the Plan, the Option granted hereby shall become exercisable as follows: 

  
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	 On the first anniversary of the
date of this Agreement (the
“Initial Vesting Date”)
	  	 	________________________ Shares	  

 Following the Initial Vesting Date, the remainder of the Option shall vest in quarterly increments over
three years. 
 The foregoing rights are cumulative and are subject to the other terms and conditions of this Agreement and the
Plan. 
 Notwithstanding the foregoing, in the event of a Change of Control, 100% of the Shares which would have vested in each
vesting installment remaining under this Option will be vested for purposes of Section 23(b) of the Plan unless this Option has otherwise expired or been terminated pursuant to its terms or the terms of the Plan. 

4. TERM OF OPTION. 
 The Option shall terminate ten years from the date of this Agreement, but shall be subject to earlier termination as provided herein or in the Plan. 

If the Participant ceases to be an employee, director or consultant of the Company or of an Affiliate (for any reason other than the
death or Disability of the Participant or termination of the Participant for Cause (as defined in the Plan)), the Option may be exercised, if it has not previously terminated, within three months after the date the Participant ceases to be an
employee, director or consultant of the Company or an Affiliate, or within the originally prescribed term of the Option, whichever is earlier, but may not be exercised thereafter. In such event, the Option shall be exercisable only to the extent
that the Option has become exercisable and is in effect at the date of such cessation of employment, directorship or consultancy. 
 Notwithstanding the foregoing, in the event of the Participant’s Disability or death within three months after the termination of employment, directorship or consultancy, the Participant or the
Participant’s Survivors may exercise the Option within one year after the date of the Participant’s termination of employment, directorship or consultancy, but in no event after the date of expiration of the term of the Option. 

In the event the Participant’s employment, directorship or consultancy is terminated by the Company or an Affiliate for Cause, the
Participant’s right to exercise any unexercised portion of this Option shall cease immediately as of the time the Participant is notified his or her employment, directorship or consultancy is terminated for Cause, and this Option shall
thereupon terminate. Notwithstanding anything herein to the contrary, if subsequent to the Participant’s termination, but prior to the exercise of the Option, the Board of Directors of the Company determines that, either prior or subsequent to
the Participant’s termination, the Participant engaged in conduct which would constitute Cause, then the Participant shall immediately cease to have any right to exercise the Option and this Option shall thereupon terminate. 

In the event of the Disability of the Participant, as determined in accordance with the Plan, the Option shall be exercisable within one
year after the Participant’s termination of service or, if earlier, within the term originally prescribed by the Option. In such event, the Option shall be exercisable: 

  
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	 	(a)	to the extent that the Option has become exercisable but has not been exercised as of the date of Disability; and 

 

	 	(b)	in the event rights to exercise the Option accrue periodically, to the extent of a pro rata portion through the date of Disability of any additional vesting rights that
would have accrued on the next vesting date had the Participant not become Disabled. The proration shall be based upon the number of days accrued in the current vesting period prior to the date of Disability. 

In the event of the death of the Participant while an employee, director or consultant of the Company or of an Affiliate, the Option
shall be exercisable by the Participant’s Survivors within one year after the date of death of the Participant or, if earlier, within the originally prescribed term of the Option. In such event, the Option shall be exercisable: 

 

	 	(x)	to the extent that the Option has become exercisable but has not been exercised as of the date of death; and 

 

	 	(y)	in the event rights to exercise the Option accrue periodically, to the extent of a pro rata portion through the date of death of any additional vesting rights that
would have accrued on the next vesting date had the Participant not died. The proration shall be based upon the number of days accrued in the current vesting period prior to the Participant’s date of death. 

5. METHOD OF EXERCISING OPTION. 
 Subject to the terms and conditions of this Agreement, the Option may be exercised by written notice to the Company or its designee, in substantially the form of Exhibit A attached hereto.
Such notice shall state the number of Shares with respect to which the Option is being exercised and shall be signed by the person exercising the Option. Payment of the purchase price for such Shares shall be made in accordance with Paragraph 8 of
the Plan. The Company shall deliver such Shares as soon as practicable after the notice shall be received, provided, however, that the Company may delay issuance of such Shares until completion of any action or obtaining of any consent, which the
Company deems necessary under any applicable law (including, without limitation, state securities or “blue sky” laws). The Shares as to which the Option shall have been so exercised shall be registered in the Company’s share register
in the name of the person so exercising the Option (or, if the Option shall be exercised by the Participant and if the Participant shall so request in the notice exercising the Option, shall be registered in the name of the Participant and another
person jointly, with right of survivorship) and shall be delivered as provided above to or upon the written order of the person exercising the Option. In the event the Option shall be exercised, pursuant to Section 4 hereof, by any person other
than the Participant, such notice shall be accompanied by appropriate proof of the right of such person to exercise the Option. All Shares that shall be purchased upon the exercise of the Option as provided herein shall be fully paid and
nonassessable. 

  
 3 

 6. PARTIAL EXERCISE. 

Exercise of this Option to the extent above stated may be made in part at any time and from time to time within the above limits, except
that no fractional share shall be issued pursuant to this Option. 
 7. NON-ASSIGNABILITY. 

The Option shall not be transferable by the Participant otherwise than by will or by the laws of descent and distribution or pursuant to a
qualified domestic relations order as defined by the Code or Title I of the Employee Retirement Income Security Act or the rules thereunder. Except as provided in the previous sentence, the Option shall be exercisable, during the
Participant’s lifetime, only by the Participant (or, in the event of legal incapacity or incompetency, by the Participant’s guardian or representative) and shall not be assigned, pledged or hypothecated in any way (whether by operation of
law or otherwise) and shall not be subject to execution, attachment or similar process. Any attempted transfer, assignment, pledge, hypothecation or other disposition of the Option or of any rights granted hereunder contrary to the provisions of
this Section 7, or the levy of any attachment or similar process upon the Option shall be null and void. 
 8. NO RIGHTS
AS STOCKHOLDER UNTIL EXERCISE. 
 The Participant shall have no rights as a stockholder with respect to Shares subject to
this Agreement until registration of the Shares in the Company’s share register in the name of the Participant. Except as is expressly provided in the Plan with respect to certain changes in the capitalization of the Company, no adjustment
shall be made for dividends or similar rights for which the record date is prior to the date of such registration. 
 9.
ADJUSTMENTS. 
 The Plan contains provisions covering the treatment of Options in a number of contingencies such as stock
splits and mergers. Provisions in the Plan for adjustment with respect to stock subject to Options and the related provisions with respect to successors to the business of the Company are hereby made applicable hereunder and are incorporated herein
by reference; provided, however, that in the event of a Change of Control 100% of the Shares which would have vested in each vesting installment remaining under this Option will be vested for purposes of Section 23(b) of the Plan. 

10. TAXES. 
 The Participant acknowledges that upon exercise of the Option the Participant will be deemed to have taxable income measured by the difference between the then fair market value of the Shares received
upon exercise and the price paid for such Shares pursuant to this Agreement. The Participant acknowledges that any income or other taxes due from him or her with respect to this Option or the Shares issuable pursuant to this Option shall be the
Participant’s responsibility. 

  
 4 

 The Participant agrees that the Company may withhold from the Participant’s
remuneration, if any, the minimum statutory amount of Federal, state and local withholding taxes attributable to such amount that is considered compensation includable in such person’s gross income. At the Company’s discretion, the amount
required to be withheld may be withheld in cash from such remuneration, or in kind from the Shares otherwise deliverable to the Participant on exercise of the Option. The Participant further agrees that, if the Company does not withhold an amount
from the Participant’s remuneration sufficient to satisfy the Company’s income tax withholding obligation, the Participant will reimburse the Company on demand, in cash, for the amount under-withheld. 

11. PURCHASE FOR INVESTMENT. 
 Unless the offering and sale of the Shares to be issued upon the particular exercise of the Option shall have been effectively registered under the Securities Act of 1933, as now in force or hereafter
amended (the “1933 Act”), the Company shall be under no obligation to issue the Shares covered by such exercise unless and until the following conditions have been fulfilled: 

 

	 	(a)	The person(s) who exercise the Option shall warrant to the Company, at the time of such exercise, that such person(s) are acquiring such Shares for their own respective
accounts, for investment, and not with a view to, or for sale in connection with, the distribution of any such Shares, in which event the person(s) acquiring such Shares shall be bound by the provisions of the following legend which shall be
endorsed upon any certificate(s) evidencing the Shares issued pursuant to such exercise: 

 “The shares
represented by this certificate have been taken for investment and they may not be sold or otherwise transferred by any person, including a pledgee, unless (1) either (a) a Registration Statement with respect to such shares shall be
effective under the Securities Act of 1933, as amended, or (b) the Company shall have received an opinion of counsel satisfactory to it that an exemption from registration under such Act is then available, and (2) there shall have been
compliance with all applicable state securities laws;” and 
  

	 	(b)	If the Company so requires, the Company shall have received an opinion of its counsel that the Shares may be issued upon such particular exercise in compliance with the
1933 Act without registration thereunder. Without limiting the generality of the foregoing, the Company may delay issuance of the Shares until completion of any action or obtaining of any consent, which the Company deems necessary under any
applicable law (including without limitation state securities or “blue sky” laws). 

 12.
RESTRICTIONS ON TRANSFER OF SHARES. 

  
 5 

 12.1 If, in connection with a registration statement filed by the Company pursuant to the
1933 Act, the Company or its underwriter so requests, the Participant will agree not to sell any Shares for a period not to exceed 180 days following the effectiveness of such registration. 

12.2 The Participant acknowledges and agrees that neither the Company, its shareholders nor its directors and officers, has any duty or
obligation to disclose to the Participant any material information regarding the business of the Company or affecting the value of the Shares before, at the time of, or following a termination of the employment of the Participant by the Company,
including, without limitation, any information concerning plans for the Company to make a public offering of its securities or to be acquired by or merged with or into another firm or entity. 

13. NO OBLIGATION TO MAINTAIN RELATIONSHIP. 
 The Company is not by the Plan or this Option obligated to continue the Participant as an employee, director or consultant of the Company or an Affiliate. The Participant acknowledges: (a) that the
Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (b) that the grant of the Option is a one-time benefit which does not create any contractual or other right to receive future grants of options, or
benefits in lieu of options; (c) that all determinations with respect to any such future grants, including, but not limited to, the times when options shall be granted, the number of shares subject to each option, the option price, and the time
or times when each option shall be exercisable, will be at the sole discretion of the Company; (d) that the Participant’s participation in the Plan is voluntary; (e) that the value of the Option is an extraordinary item of
compensation which is outside the scope of the Participant’s employment contract, if any; and (f) that the Option is not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of
service payments, bonuses, long-service awards, pension or retirement benefits or similar payments. 
 14. NOTICES.

 Any notices required or permitted by the terms of this Agreement or the Plan shall be given by recognized courier service,
facsimile, registered or certified mail, return receipt requested, addressed as follows: 
  

					
	 If to the Company:
	  	 Alphatec Holdings, Inc.

2051 Palomar Airport Road
 Carlsbad, CA
92011
	  	
			
	 If to the Participant:
	  	The address on file	  	

 or to such other address or addresses of which notice in the same manner has previously been given. Any such notice shall
be deemed to have been given upon the earlier of receipt, one business day following delivery to a recognized courier service or three business days following mailing by registered or certified mail. 

15. GOVERNING LAW. 

  
 6 

 This Agreement shall be construed and enforced in accordance with the law of the State of
Delaware, without giving effect to the conflict of law principles thereof. For the purpose of litigating any dispute that arises under this Agreement, the parties hereby consent to exclusive jurisdiction in Delaware and agree that such
litigation shall be conducted in the state courts of Delaware or the federal courts of the United States for the District of Delaware. 
 16. BENEFIT OF AGREEMENT. 
 Subject to the provisions of the Plan and the
other provisions hereof, this Agreement shall be for the benefit of and shall be binding upon the heirs, executors, administrators, successors and assigns of the parties hereto. 

17. ENTIRE AGREEMENT. 
 This Agreement, together with the Plan, embodies the entire agreement and understanding between the parties hereto with respect to the subject matter hereof and supersedes all prior oral or written
agreements and understandings relating to the subject matter hereof. No statement, representation, warranty, covenant or agreement not expressly set forth in this Agreement shall affect or be used to interpret, change or restrict, the express terms
and provisions of this Agreement, provided, however, in any event, this Agreement shall be subject to and governed by the Plan. 

18. MODIFICATIONS AND AMENDMENTS. 
 The terms and provisions of this Agreement may be modified or amended as provided in the Plan. 
 19. WAIVERS AND CONSENTS. 
 Except as provided in the Plan, the terms and
provisions of this Agreement may be waived, or consent for the departure therefrom granted, only by written document executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall be deemed to be or shall
constitute a waiver or consent with respect to any other terms or provisions of this Agreement, whether or not similar. Each such waiver or consent shall be effective only in the specific instance and for the purpose for which it was given, and
shall not constitute a continuing waiver or consent. 
 20. DATA PRIVACY. 

By entering into this Agreement, the Participant: (a) authorizes the Company and each Affiliate, and any agent of the Company or any
Affiliate administering the Plan or providing Plan record keeping services, to disclose to the Company or any of its Affiliates such information and data as the Company or any such Affiliate shall request in order to facilitate the grant of options
and the administration of the Plan; (b) waives any data privacy rights he or she may have with respect to such information; and (c) authorizes the Company and each Affiliate to store and transmit such information in electronic form.

  
 7 

 IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly
authorized officer, and the Participant has hereunto set his or her hand, all as of the day and year first above written. 
  

 

			
	ALPHATEC HOLDINGS, INC.
		
	By: 	 	/s/ Leslie Cross
	President and Chief Executive Officer
	
	 PARTICIPANT:

 

	
	 

  
 8

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