Document:

EX-10.2

 Exhibit 10.2 

SYNCARDIA SYSTEMS, INC. 

LONG-TERM INCENTIVE PLAN 

Section 1. Purpose 
 The
purposes of this SynCardia Systems, Inc. Long-Term Incentive Plan (the “Plan”) are to encourage selected Employees, Consultants, Board Members and Advisory Board Members of SynCardia Systems, Inc. (together with any successor thereto, the
“Company”) and its Affiliates to acquire a proprietary interest in the growth and performance of the Company, to generate an increased incentive to contribute to the Company’s future success and prosperity, thus enhancing the value of
the Company for the benefit of its stockholders, and to enhance the ability of the Company and its Affiliates to attract and retain qualified individuals upon whom, in large measure, the sustained progress, growth and profitability of the Company
depend. 
 Section 2. Definitions 

As used in the Plan, the following terms shall have the meanings set forth below: 

(a) “Affiliate” shall mean any entity that, directly or through one or more intermediaries, is controlled by, controls or is under
common control with the Company. 
 (b) “Board” shall mean the Board of Directors of the Company. 

(c) “Change in Control” means a change in control of the Company as a result of the occurrence of any of the following events: 

(i) any Person other than an Exempt Person (an “Acquiring Person”) is or becomes the beneficial owner, directly or
indirectly, of Shares of the Company representing more than fifty percent (50%) of the combined voting power of the Company’s then outstanding voting securities, other than either in connection with an issuance of Shares or series of
related issuances of Shares approved by the Board (which Board must include at least a majority who were Continuing Directors and which transaction or series of related transactions must have been approved by a majority of the Continuing Directors)
or as the result of the reduction in the number of issued and outstanding Shares pursuant to a transaction or series of related transactions approved by the Board; 

(ii) there shall cease to be a majority of the Board comprised of Continuing Directors; or 

(iii) (1) the Stockholders of the Company approve a merger or consolidation of the Company with any other entity, other
than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent more than fifty percent (50%) of the combined voting power of the voting securities of the
Company or such surviving entity outstanding immediately after such merger or consolidation, or (2) the stockholders of the Company approve a plan of complete liquidation of the Company or an agreement for the sale or disposition by the

 
Company of all or substantially all the Company’s assets (other than to a more than fifty percent (50%) subsidiary or other controlled person of the Company). 

(d) “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time. 

(e) “Continuing Director” shall mean a director of the Company who is not an Acquiring Person or an affiliate or associate thereof or
any of their representatives and who was either a director of the Company before any Person became an Acquiring Person or whose nomination or election to the Board was recommended or approved by a majority of the then Continuing Directors or by an
Exempt Person. 
 (f) “Committee” shall mean a committee of the Board designated by the Board to administer the Plan and composed
of not less than two directors, each of whom qualifies both as a “disinterested person” within the meaning of Rule 16b-3 and an “outside director” as that term is defined for purposes of Section 162(m) of the Code. 

(g) “Exempt Person” means the Company, any Subsidiary or Affiliate thereof, any employee benefit plan of the Company or any
Subsidiary or Affiliate thereof, any entity holding Shares for or pursuant to the terms of any such plan, and any stockholder as of the close of business on the date the Plan is adopted by the Board or any affiliate of any such stockholder. 

[(h) “Fair Market Value” means, with respect to the Shares, the fair market value of the Shares as determined by the Committee in
good faith.] 
 (i) “Incentive Stock Option” shall mean an option granted under Section 6(a) of the Plan that meets the
requirements of Section 422 of the Code or any successor provision thereto. 
 (j) “Employee” shall mean any employee who is a
regular employee of the Company or its present and future Affiliates. 
 (k) “Non-Qualified Stock Option” shall mean an option
granted under Section 6(a) of the Plan that is not an Incentive Stock Option. 
 (l) “Option” shall mean an Incentive Stock Option
or a Non-Qualified Stock Option. 
 (m) “Option Agreement” shall mean a written agreement, contract, or other instrument or
document evidencing an Option granted under the Plan. 
 (n) “Participant” shall mean an Employee, Consultant, Board Member or
Advisory Board Member who has been granted an Option under the Plan. 

  
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 (o) “Person” shall mean any individual, corporation, partnership, association,
joint-stock company, trust, unincorporated organization, or government or political subdivision thereof. 
 (p) “Shares” shall mean
the common stock of the Company, par value [$             ] per share, and such other securities or property as may become the subject of Options pursuant to an adjustment made under
Section 4(b) of the Plan. 
 Section 3. Administration 

(a) Generally. The Plan shall be administered by the Committee. Unless otherwise expressly provided in the Plan, all designations,
determinations, interpretations and other decisions under or with respect to the Plan or any Option shall be within the sole discretion of the Committee, may be made at any time, and shall be final, conclusive and binding upon all Persons, including
the Company, any Affiliate, any Participant, any holder or beneficiary of any Option, any stockholder of the Company (“Stockholder”) and any employee of the Company or of any Affiliate. Notwithstanding anything to the contrary contained
herein, prior to the date the Board designates a Committee, the Plan may be administered by the Board of Directors, and the Board shall have all of the rights, privileges, and authority conferred upon the Committee pursuant to the Plan. 

(b) Powers. Subject to the terms of the Plan and applicable law, the Committee shall have full power and authority to:
(i) designate Participants; (ii) determine the type or types of Options to be granted to each Participant under the Plan; (iii) determine the number of Shares to be covered by (or with respect to which payments, rights or other
matters are to be calculated in connection with) Options; (iv) determine the terms and conditions of any Option; (v) determine whether, to what extent, and under what circumstances Options may be settled or exercised in cash, Shares, other
Options, or other property, or canceled, forfeited, or suspended, and the method or methods by which Options may be settled, exercised, canceled, forfeited, or suspended; (vi) determine whether, to what extent, and under what circumstances
cash, Shares, other Options, other property, and other amounts payable with respect to an Option under the Plan shall be deferred; (vii) accelerate the vesting of Options; (viii) amend Options (subject to Section 8);
(ix) interpret and administer the Plan and any instruments or agreements relating to Options made under the Plan; (x) establish, amend, suspend, or waive such rules and regulations and appoint such agents as it shall deem appropriate for
the proper administration of the Plan; and (xi) make any other determination and take any other action that the Committee deems necessary or desirable for the administration of the Plan. 

(c) Reliance, Indemnification. The Committee may employ attorneys, consultants, accountants or other persons and the Committee, the
Company and its officers and directors shall be entitled to rely upon the advice, opinions or valuations of any such persons. No member of the Committee shall be personally liable for any action, determination or interpretation taken or made in good
faith with respect to the Plan, or Options made thereunder, and all members of the Committee shall be fully indemnified and protected by the Company in respect of any such action, determination or interpretation. 

  
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 Section 4. Shares Available for Options 

(a) Shares Available. Subject to adjustment as provided in Section 4(b): 

(i) Limitation on Number of Shares. Options issuable under the Plan are limited such that the maximum aggregate number
of Shares which may be issued pursuant to, or by reason of, Options is 250,000. All or any number of such Shares may be the subject of Incentive Stock Options, in the sole discretion of the Committee. To the extent that an Option ceases to remain
outstanding by reason of termination (as opposed to vesting or exercise) of rights granted thereunder, forfeiture or otherwise, the Shares subject to such Option shall again become available for Options under the Plan. 

(ii) Sources of Shares Deliverable Under Options. Any Shares delivered pursuant to an Option may consist, in whole or in
part, of authorized and unissued Shares or of treasury Shares. 
 (b) Adjustments. In the event that the Committee shall determine
that any (i) subdivision or consolidation of Shares, (ii) dividend or other distribution (in the form of Shares or an extraordinary cash dividend), (iii) recapitalization or other capital adjustment of the Company or (iv) merger,
consolidation or other reorganization of the Company or other rights to purchase Shares or other securities of the Company, or other similar corporate transaction or event described in Treasury Regulation Section 1.162-27(e)(2)(iii)(C), affects
the Shares such that an adjustment is determined by the Committee to be appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan, then the Committee shall, in such
manner as it may deem equitable, adjust any or all of (x) the number and type of Shares (or other securities or property) which thereafter may be made the subject of Options, (y) the number and type of Shares (or other securities or
property) subject to outstanding Options, and (z) the grant, purchase, or exercise price with respect to any Option or, if deemed appropriate, make provision for a cash payment to the holder of an outstanding Option; provided, however, in each
case, no such adjustment shall be authorized to the extent that such adjustment would (i) cause the Plan to violate Section 422 of the Code, (ii) would constitute a material modification of the Plan, within the meaning of Treasury
Regulation Section 1.162-27(f)(2)(ii) and (h)(l)(iii), prior to the expiration of the “reliance period” set forth in Treasury Regulation Section 1.162-27(f)(2) or (iii) after the expiration of said reliance period, would
constitute a termination and reissuance as described in Treasury Regulation Section 1.162-27(e)(2)(vi)(C); and provided further, however, that the number of Shares subject to any Option denominated in Shares shall always be a whole number. 

Section 5. Eligibility for Options 

Options may be granted to Employees, Consultants, Board Members and Advisory Board Members. In determining the individuals to whom Options
shall be granted and the number of shares or units to be covered by each Option, the Committee shall take into account the nature of individuals’ duties, their present and potential contributions to the success of the Company and such other
factors as it shall deem relevant in connection with accomplishing the purposes of the Plan. An Employee, Consultant, Board Member and Advisory Board Member who has been granted an Option or Options under the Plan may be 

  
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granted an additional Option or Options, subject to such limitations as may be imposed by the Code on the grant of Incentive Stock Options. Notwithstanding anything to the contrary herein,
Incentive Stock Options may be granted only to Employees, consultants, Board Members or Advisory Board Members of this Company, or its present of future parent or subsidiary corporations (as defined in Section 424 of the Code). 

Section 6. Options 
 (a)
Grants. The Committee is hereby authorized to grant Options to Participants with the following terms and conditions and with such additional terms and conditions, in either case not inconsistent with the provisions of the Plan, as the
Committee shall determine: 
 (i) Exercise Price. The purchase price per Share purchasable under an Option shall be
the Fair Market Value of a Share on the date of grant unless otherwise determined by the Committee; provided however, that the purchase price per Share purchasable under an Incentive Stock Option shall not be less than 100% of the Fair Market Value
of a Share on the date of grant of an Incentive Stock Option (110% in the case of an Incentive Stock Option granted to a 10-percent shareholder within the meaning of Code Section 422(c)(5)). 

(ii) Option Term. The term of each Non-Qualified Stock Option shall be fixed by the Committee but generally shall not
exceed 10 years from the date of grant. The term of each Incentive Stock Option shall in no event be more than 10 years from the date of grant (5 years in the case of a 10-percent shareholder within the meaning of Code Section 422(c)(5)). 

(iii) Time and Method of Exercise. The Committee shall determine the time or times at which an Option may be exercised
in whole or in part, and the method or methods by which, and the form or forms (including, without limitation, cash, Shares, outstanding Options or other consideration, or any combination thereof, having a Fair Market Value on the exercise date
equal to the relevant option price) in which, payment of the option price with respect thereto may be made or deemed to have been made. 

(iv) Early Termination. The Committee shall determine the events upon which the unexercised portion of any Option
granted under the Plan will be terminated. 
 (v) Change of Control. Notwithstanding anything to the contrary, upon
the occurrence of a Change of Control, the Board may, in its discretion, determine on a case by case basis, that each Option granted under the Plan shall terminate 30 days after the occurrence of such Change in Control, but, in the event of any such
termination, the Participant shall have the right, exercisable during the 30 day period preceding the occurrence of such Change of Control, and, in addition, with respect to a Change of Control described in clauses (i) and (ii) of the
definition thereof, within 30 days after the occurrence of such Change of Control, to exercise in whole or in part his Options without regard to the vesting provisions thereof. The Company will mail or cause to be mailed to each Participant a notice
specifying the date that is to be fixed as of which all holders of 

  
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record shall be entitled to exchange their Shares for securities, cash or other property issuable or deliverable pursuant to a Change of Control described in clauses (iii) or (iv) of
the definition thereof. In the event any Option is not exercised in its entirety on or prior to the date specified therein, any and all remaining rights under such Options shall terminate as of said date. 

(vi) Incentive Stock Options. All terms of any Incentive Stock Option granted under the Plan shall comply in all
respects with the provisions of Section 422 of the Code, or any successor provision thereto, and any regulations promulgated thereunder. The Fair Market Value of Shares subject to Incentive Stock Options (determined as of the date such
Incentive Stock Options are granted) exercisable for the first time by any individual during any calendar year shall in no event exceed $100,000. 

(b) General. 

(i) No Cash Consideration for Options. Options shall be granted for no cash consideration or such minimal cash
consideration as may be required by applicable law. 
 (ii) Options May Be Granted Separately or Together. Options
may, in the discretion of the Committee, be granted either alone or in addition to, in tandem with, or in substitution for any other Option or any award granted under any other plan of the Company or any Affiliate. Options granted in addition to or
in tandem with other Options, or in addition to or in tandem with awards or options granted under any other plan of the Company or any Affiliate, may be granted either at the same time as or at a different time from the grant of such other Options
or awards or options. 
 (iii) Forms of Payment Under Options. Subject to the terms of the Plan and of any applicable
Option Agreement, payment or transfers to be made by the Company or an Affiliate upon the grant or exercise of an Option may be made in such form or forms as the Committee shall determine, including, without limitation, cash, Shares, other
securities, other Options, or other property, or any combination thereof, and may be made in a single payment or transfer, in installments, or on a deferred basis, in each case in accordance with rules and procedures established by the Committee.

 (iv) Limits on Transfer of Options. No Option and no right under any such Option, shall be assignable, alienable,
saleable, or transferable by a Participant otherwise than by will or by the laws of descent and distribution; provided, however, that, if so determined by the Committee, a Participant may, in the manner established by the Committee, designate a
beneficiary or beneficiaries to exercise the rights of the Participant, and to receive any property distributable, with respect to any Option upon the death of the Participant. Notwithstanding the preceding sentence, an Option may be transferable
pursuant to a qualified domestic relations order (as defined in the Code or the Employee Retirement Income Security Act), subject to potential loss of an Option’s status as an Incentive Stock Option under Code Section 422. Each Option, and
each right under any Option, shall be exercisable, during the Participant’s lifetime, only by the Participant or, if permissible under the Code and applicable law with respect to any Option, by the Participant’s guardian or legal
representative. No Option and no right 

  
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under any such Option, may be pledged, alienated, attached, or otherwise encumbered, and any purported pledge, alienation, attachment, or encumbrance thereof shall be void and unenforceable
against the Company or any Affiliate. 
 (v) Term of Options. Except as set forth in Section 6(a)(ii), the term
of each Option shall be for such period as may be determined by the Committee. 
 (vi) Share Certificates. All
certificates for Shares or other securities of the Company or any Affiliate delivered under the Plan pursuant to any Option or the exercise thereof shall be subject to such stop transfer orders and other restrictions as the Committee may deem
advisable under the Plan or the rules, regulations, and other restrictions of the Securities and Exchange Commission, any stock exchange upon which such Shares or other securities are then listed, and any applicable Federal or state securities laws,
and the Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions. 
 Section 7.
Company Deduction for Option 
 The Committee shall, if it determines to qualify compensation payable under the Plan as
performance based compensation within the meaning of Code Section 162(m), take such actions as it deems necessary to qualify compensation payable under the Plan as performance based compensation. 

Section 8. Amendment and Termination 

Except to the extent prohibited by applicable law and unless otherwise expressly provided in an Option Agreement or in the Plan: 

(a) Amendments to the Plan. The Board may amend, alter, suspend, discontinue, or terminate the Plan without the consent of any
Stockholder, Participant, other holder or beneficiary of an Option, or other Person; provided, however, that notwithstanding any other provision of the Plan or any Option Agreement, without the approval of the Stockholders no amendment, alteration,
suspension, discontinuation, or termination shall be made that would: (i) increase the total number of Shares available for Options under the Plan, except as provided in Section 4 of the Plan; (ii) materially increase the benefits
accruing to Participants under the Plan; or (iii) materially modify the requirements as to eligibility for participation in the Plan, or where shareholder approval would be required under Section 422 of the Code in order for Incentive
Stock Options to qualify thereunder or under Section 162(m) of the Code. Notwithstanding the discretionary authority granted to the Board, no amendment of the Plan or any Option granted under the Plan shall impair any of the rights of any
holder, without such holder’s consent, under any Option theretofore granted under the Plan. 
 (b) Correction of Defects, Omissions,
and Inconsistencies. The Committee may correct any defect, supply any omission or reconcile any inconsistency in the Plan or any Option in the manner and to the extent it shall deem desirable to carry the Plan into effect. 

  
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 Section 9. General Provisions 

(a) No Rights to Options. No Participant shall have any claim to be granted any Option under the Plan, and there is no obligation for
uniformity of treatment of Participants, or holders or beneficiaries of Options under the Plan. The terms and conditions of Options need not be the same with respect to each Participant. 

(b) Withholding. The Company or any Affiliate shall be authorized to withhold from any Option granted or any payment due or transfer
made under any Option or under the Plan the amount (in cash, Shares, other securities, or other property) of withholding taxes due in respect of an Option, its exercise, or any payment or transfer under such Options or under the Plan and to take
such other action as may be necessary in the opinion of the Company to satisfy all obligations for the payment of such taxes. In case of Options paid in Shares, the Participant or other person receiving such Shares may be required to pay the Company
or Affiliate, as appropriate, the amount of any such withholding taxes which is required to be withheld with respect to such Shares before the certificate for such Shares is delivered pursuant to the Option. Furthermore, the Company may elect to
deduct such withholding taxes from any other amounts payable in cash or in shares or from any other amounts payable at any time thereafter to the Participant. If a Participant disposes Shares acquired upon exercise of an Incentive Stock Option in
any transaction considered to be a disqualifying disposition under Section 421 or 422 of the Code, the Participant shall promptly notify the Company of such transfer. 

(c) No Limit on Other Plans. Nothing contained in the Plan shall prevent the Company or any Affiliate from adopting or continuing in
effect other or additional compensation arrangements and such arrangements may be either generally applicable or applicable only in specific cases. 

(d) No Right to Employment. The grant of an Option shall not be construed as giving a Participant the right to be retained in the employ
of the Company or any Affiliate. Further, the Company or an Affiliate may at any time dismiss a Participant from employment, free from any liability, or any claim under the Plan, unless otherwise expressly provided in the Plan or in any Option
Agreement. 
 (e) Governing Law. The validity, construction, and effect of the Plan and any rules and regulations relating to the Plan
shall be determined in accordance with the laws of the State of Delaware and applicable Federal law. 
 (f) Severability. If any
provision of the Plan or any Option is or becomes or is deemed to be invalid, illegal, or unenforceable in any jurisdiction, or would disqualify the Plan or any Option under any law deemed applicable by the Committee, such provision shall be
construed or deemed amended to conform to applicable laws, or if it cannot be construed or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan, such provision shall be deemed void, stricken and
the remainder of the Plan and any such Option shall remain in full force and effect. 

  
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 (g) No Trust or Fund Created. Neither the Plan nor any Option shall create or be construed
to create a trust or separate fund of any kind or a fiduciary relationship between the Company or any Affiliate and a Participant or any other Person. To the extent that any Person acquires a right to receive payments from the Company or any
Affiliate pursuant to an Option, such right shall be no greater than the right of any unsecured general creditor of the Company or any Affiliate. 

(h) No Fractional Shares. No fractional Shares shall be issued or delivered pursuant to the Plan or any Option, and the Committee shall
determine whether cash, other securities, or other property shall be paid or transferred in lieu of any fractional Shares or whether such fractional Shares or any rights thereto shall be canceled, terminated, or otherwise eliminated. 

(i) Headings. Headings are given to the Sections and subsections of the Plan solely as a convenience to facilitate reference. Such
headings shall not be deemed in any way material or relevant to the construction or interpretation of the Plan or any provision hereof. 

Section 10. Term of the Plan 

The Plan shall continue until the earliest of (i) the date on which all Options issuable hereunder have been issued, (ii) the
termination of the Plan by the Board or (iii) 10 years from the date of adoption of the Plan by the Board. However, unless otherwise expressly provided in the Plan or in an applicable Option Agreement, any Option theretofore granted may extend
beyond such date and the authority of the Committee to amend, alter, adjust, suspend, discontinue, or terminate any such Option or to waive any conditions or rights under any such Option, and the authority of the Board to amend the Plan, shall
extend beyond such date. 
 Section 11. Effectiveness Of The Plan 

The Plan shall become effective on the date specified by the Board. [Following approval by the Board, the plan shall be submitted to the
Company’s stockholders for approval and unless the Plan is approved by the affirmative votes of the holders of shares having a majority of the voting power of the shares represented at a meeting duly held in accordance with
[             ] Law within twelve (12) months after being approved by the Board, the Plan and all Options granted under it shall be void and of no force and effect.] 

  
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 OPTION AGREEMENT 

This Option Agreement (the “Agreement”) is made as of the
             day of                     , 2013 for an effective date
of                     , between SynCardia Systems, Inc. (the “Company”)
and                     (the “Optionee”). 

WHEREAS, the Company has heretofore adopted the SynCardia Systems, Inc. Long-Term Incentive Plan (the “Plan”); 

WHEREAS, the Company intends that the Plan qualify as an Incentive Stock Option Plan as defined by Section 422 of the Internal Revenue
Code of 1986, as amended (the “Code”); and 
 WHEREAS, it is a requirement of the Plan that an Option Agreement be
executed to evidence the Incentive Stock Option granted to the Optionee under the Plan as of the date set forth above. 
 NOW, THEREFORE, in
consideration of the mutual covenants hereinafter set forth and for other good and valuable consideration, the parties hereto have agreed, and do hereby agree, as follows:  

1. Grant of Option. The Company hereby grants to the Optionee the right and option (the “Option”) to
purchase all or any part of an aggregate of                      shares (the “Shares”) of common stock, par value $.01 per
share, of the Company (the “Common Stock”) (such number being subject to adjustment as set forth herein) on the terms and conditions set forth herein. 

2. Type of Option. The Option granted under this Agreement is an Incentive Stock Option and shall be treated by the Company and
the Optionee as an Incentive Stock Option for federal income tax purposes. Notwithstanding the foregoing, to the extent that this Option 

 
exceeds the limitations set forth in Section 6 of the Plan, it shall be a Non-Qualified Stock Option and shall not be treated by the Company or the Optionee as an Incentive Stock Option for
federal income tax purposes. 
 3. Option Price. The option price per share of the Shares covered by the Option shall be
$            . 
 4. Term of Option. The term of the Option shall
be for a period of five (5) years from the date of this Agreement subject to earlier termination as hereinafter provided. Notwithstanding the foregoing, upon the occurrence of a Change in Control, the Board may, in its discretion, terminate
this Option 30 days after the occurrence of such Change in Control, and the Option shall be exercisable as described in Section 5(a)(v). The following terms shall be defined as follows for purposes of this Agreement: 

(a) “Change in Control” means a change in control of the Company as a result of the occurrence of
any of the following events: 
 (i) any Person other than an Exempt Person (an “Acquiring
Person”) is or becomes the beneficial owner, directly or indirectly, of Shares of the Company representing more than fifty percent (50%) of the combined voting power of the Company’s then outstanding voting
securities, other than either in connection with an issuance of Shares or series of related issuances of Shares approved by the Board (which Board must include at least a majority who were Continuing Directors and which transaction or series of
related transactions must have been approved by a majority of the Continuing Directors) or as the result of the reduction in the number of issued and outstanding Shares pursuant to a transaction or series of related transactions approved by the
Board; 

  
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 (ii) there shall cease to be a majority of the Board comprised of Continuing
Directors; or 
 (iii) (1) the stockholders of the Company approve a merger or consolidation of the Company with
any other entity, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent more than fifty percent (50%) of the combined voting power of the
voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation, or (2) the stockholders of the Company approve a plan of complete liquidation of the Company or an agreement for the sale or
disposition by the Company of all or substantially all the Company’s assets (other than to a more than fifty percent (50%) subsidiary or other controlled person of the Company). 

(b) “Continuing Director” shall mean a director of the Company who is not an Acquiring Person or
an affiliate or associate thereof or any of their representatives and who was either a director of the Company before any Person became an Acquiring Person or whose nomination or election to the Board was recommended or approved by a majority of the
then Continuing Directors or by an Exempt Person. 
 (c) “Committee” shall mean a committee of the
Board designated by the Board to administer the Plan and composed of not less than two directors, each of whom qualifies both as a “disinterested person” within the meaning of Rule 16b-3 and an “outside director” as that term is
defined for purposes of Section 162(m) of the Code. 
 (d) “Exempt Person” means the Company,
any subsidiary or affiliate thereof, any employee benefit plan of the Company or any subsidiary or affiliate thereof, any 

  
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entity holding Shares for or pursuant to the terms of any such plan, and any stockholder as of the close of business on the date the Plan is adopted by the Board or any affiliate of any such
stockholder. 
 (e) “Person” means any individual, corporation, partnership, association, joint-stock
company, trust, unincorporated organization, or government or political subdivision thereof. 
 5. Exercise of Option. 

(a) Prior to its expiration or termination, and except as hereinafter provided, the Option may be exercised in accordance with
the following vesting schedule: 
 (i) After one (1) year from the date of grant, the Option may be exercised as to
not more than one-fifth (1/5) of the Shares originally subject to the Option; 
 (ii) After two (2) years from
the date of grant, the Option may be exercised as to not more than a cumulative total of two-fifths (2/5) of the Shares originally subject to the Option; 

(iii) After three (3) years from the date of grant, the Option may be exercised as to not more than a cumulative
total of three-fifths (3/5) of the Shares originally subject to the Option; 
 (iv) After four (4) years from
the date of grant, the Option may be exercised as to not more than a cumulative total of four-fifths (4/5) of the Shares originally subject to the Option; 

(v) After five (5) years from the date of grant, the Option may be exercised as to any part or all of the Shares
originally subject to the Option. 

  
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 (b) Notwithstanding the foregoing, upon the occurrence of a Change in Control,
the Board may, in its discretion, terminate this Option, but, in the event of any such termination, the Optionee shall have the right, exercisable during the 30 day period preceding the occurrence of such Change in Control, and, in addition, with
respect to a Change in Control described in clauses (i) and (ii) of Section 4, within 30 days after the occurrence of such Change in Control, to exercise in whole or in part the Option without regard to the vesting provisions thereof.
The Company will mail or cause to be mailed to the Optionee a notice specifying the date that is to be fixed as of which all holders of record shall be entitled to exchange their Shares for securities, cash or other property issuable or deliverable
pursuant to a Change in Control described in clauses (iii) or (iv) of the definition thereof. In the event the Option is not exercised in its entirety on or prior to the date specified therein, any and all remaining rights under the Option
shall terminate as of said date. 
 (c) In order to exercise the Option, the person or persons entitled to exercise it shall
deliver to the Company written notice of the number of full Shares with respect to which the Option is to be exercised. Such notice shall be delivered to the attention of the Chief Financial Officer of the Company or, in the absence of the Chief
Financial Officer, any other executive officer of the Company, and shall be accompanied by payment in full for any shares of Common Stock being purchased, which payment shall be in cash. No fractional shares of Common Stock shall be issued. 

(d) No shares shall be issued until full payment has been made for the shares and the Optionee shall have none of the rights of
a stockholder in respect to such shares until full payment therefor has been made. 

  
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 6. Nontransferability. This Option shall not be transferable other than (a), if
applicable, by will or the laws of descent and distribution, and the Option may be exercised, during the lifetime of the Optionee, if an individual, only by the Optionee, or in the event of the death or disability of the Optionee, the
Optionee’s personal representative, distributees or legatees, as the case may be, or (b) if permitted pursuant to the Code and the regulations thereunder without affecting the Option’s qualification under Code Section 422 as an
Incentive Stock Option, pursuant to a qualified domestic relations order as defined in the Code, ERISA or the rules thereunder. 
 7.
Termination of Employment. Anything herein contained to the contrary notwithstanding, in the event of any termination of Optionee’s employment for any reason other than death, disability or retirement, the Option may be exercised by
the Optionee (to the extent that he or she shall have been entitled to do so at the termination of his or her employment) at any time within three (3) months after the date of such termination, but not beyond the original term thereof. So long
as the Optionee shall continue to be an employee of the Company or one or more of its Subsidiaries, the Option shall not be affected by any change of duties or position. Nothing in this Option Agreement shall confer upon the Optionee any right to
continue in the employ of the Company or any of its subsidiaries or interfere in any way with the right of the Company or any such subsidiary to terminate his or her employment at any time. Anything contained herein to the contrary notwithstanding,
in the event of the termination of the Optionee’s employment for cause, the Option, to the extent not theretofore exercised, shall forthwith terminate. 

8. Death of Optionee. If the Optionee shall die while he or she shall be employed by the Company or one or more of its
subsidiaries, or within three (3) months after the 

  
 6 

 
termination of his or her employment with the Company other than for cause, the Option may be exercised by the Optionee’s beneficiary (to the extent that the Employee shall have been
entitled to do so at the time of his or her death) at any time within nine (9) months after the Optionee’s death, but not beyond the original term of the Option. 

9. Disability of Optionee. If the employment of the Optionee shall terminate on account of his or her having become
“disabled”, as defined in Section 22(e)(3) of the Code, the Option may be exercised by the Optionee or the Optionee’s personal representative (to the extent that the Optionee shall have been entitled to do so at the termination
of his or her employment on account of his or her becoming disabled) at any time within one (1) year after the date on which his or her employment terminated, but not beyond the original term of the Option. 

10. Retirement of Optionee. If the employment of the Optionee shall terminate by reason of retirement entitling the Optionee to
early, normal or late retirement benefits under the provisions of any retirement plan of the Company or a subsidiary in which the Optionee participates (or if no such plan then exists, at or after age sixty-five (65)), the Option may be exercised by
the Optionee (to the extent that he or she shall have been entitled to do so at the termination of his or her employment on account of any such retirement event) at any time within three (3) months after the date on which his or her employment
terminated, but not beyond the original term of the Option. 
 11. Adjustments Upon Changes in Capitalization. In the event
that the Committee, as such term is defined in the Plan, shall determine that any (i) subdivision or consolidation of shares of Common Stock, (ii) dividend or other distribution (in the form of shares of Common Stock or an extraordinary
cash dividend), (iii) recapitalization or other capital adjustment of the Company or (iv) merger, consolidation or other reorganization of the Company or other rights to 

  
 7 

 
purchase shares of Common Stock or other securities of the Company, or other similar corporate transaction or event described in Treasury Regulation Section 1.162-27(e)(2)(iii)(C), affects
the Shares such that an adjustment is determined by the Committee to be appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan, then the Committee shall, in such
manner as it may deem equitable, adjust any or all of (x) the number and type of Shares subject to the Option hereby granted, and (y) the purchase or exercise price with respect to the Shares subject to the Option or, if deemed
appropriate, make provision for a cash payment to the Optionee; provided, however, in each case, no such adjustment shall be authorized to the extent that such adjustment would (i) cause the Plan to violate Section 422 of the Code,
(ii) would constitute a material modification of the Plan, within the meaning of Treasury Regulation Section 1.162-27(f)(2)(ii) and (h)(1)(iii), prior to the expiration of the “reliance period” set forth in Treasury Regulation
Section 1.162-27(f)(2) or (iii) after the expiration of said reliance period, would constitute a termination and reissuance as described in Treasury Regulation Section 1.162-27(e)(2)(vi)(C); and provided further, however, that the
number of Shares subject to the Option shall always be a whole number. 
 12. Taxes. The Company shall be authorized to
withhold from any payment due or transfer made with respect to the Option, the Shares subject to the Option, or under the Plan the amount (in cash, Shares, other securities, or other property) of withholding taxes due in respect of the Option, its
exercise, or any payment or transfer under the Option or under the Plan and to take such other action as may be necessary in the opinion of the Company to satisfy all obligations for the payment of such taxes. The Optionee or other person receiving
Shares acquired under the Option may be required to pay the Company the amount of any such withholding taxes which is required to be withheld with respect to such Shares before the 

  
 8 

 
certificate for such Shares is delivered pursuant to the Option. Furthermore, the Company may elect to deduct such withholding taxes from any other amounts payable in cash or in shares of Common
Stock or from any other amounts payable at any time thereafter to the Optionee. If the Optionee disposes of Shares acquired pursuant to the Option in any transaction considered to be a disqualifying transaction under Sections 421 and 422 of the
Code, the Optionee must give the Company written notice of such transfer and the Company shall have the right to deduct any taxes as required by law to be withheld from any amounts otherwise payable to the Optionee. 

13. Delivery of Shares. All certificates for Shares or other securities of the Company delivered pursuant to the exercise of all
or any part of the Option shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the Plan or the rules, regulations, and other restrictions of the Securities and Exchange Commission, any stock
exchange upon which such Shares or other securities are then listed, and any applicable Federal or state securities laws, and the Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to such
restrictions. 
 14. Governing Law. This Agreement shall be deemed to be made under, and in all respects shall be interpreted,
construed and governed by and in accordance with, the laws of the State of Delaware and applicable Federal law. 
 15. Incorporation of
Provisions of Plan. All of the provisions of the Plan, pursuant to which this Option is granted, are hereby incorporated by reference and made a part hereof as if specifically set forth herein, and to the extent of any conflict between this
Option Agreement and the terms contained in the Plan, the Plan shall control. To the extent any capitalized terms are not otherwise defined herein, they shall have the meanings set forth in the Plan. 

  
 9 

 16. Invalidity of Provisions. The invalidity or unenforceability of any provision
of this Option Agreement as a result of a violation of any state or federal law, or of the rules or regulations of any governmental regulatory body, or any securities exchange shall not affect the validity of enforceability of the remainder of this
Option Agreement. 
 17. Interpretation. All decisions or interpretations made by the Board, or the Committee if one has been
appointed, with regard to any question arising under the Plan or this Option Agreement shall be binding and conclusive on the Company and the Optionee. 

18. Amendments. This Agreement may be amended only by a written instrument provided, however, that notwithstanding the
discretionary authority granted to the Board (as such term is defined in the Plan) under the Plan, no amendment shall impair any of the rights of any holder of the Option without such holder’s consent. 

19. Multiple Counterparts. This Agreement may be signed in multiple counterparts, all of which when taken together shall
constitute an original agreement. The execution by any one party of any counterpart shall be sufficient execution by the party, whether or not the same counterpart has been executed by any other party. 

20. Fees and Costs. The Company shall pay all original issue taxes on the exercise of this Option and all other fees and expenses
necessarily incurred by the Company in connection therewith. 
 21. Entire Agreement. This Agreement contains the entire
agreement between the parties with respect to the transactions contemplated hereby, and supersedes all prior agreements, written or oral, with respect thereto. 

  
 10 

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

			
	SYNCARDIA SYSTEMS, INC.
		
	By:	 	  

	Name:
	Title:
	
	OPTIONEE
	
	 
	Optionee
	
	Date:                                 

  
 11EX-10.5

 Exhibit 10.5 

SynCardia Systems Inc. 

EMPLOYMENT AGREEMENT 

THIS AGREEMENT is made as of May 19, 2010, between SynCardia Systems Inc., a Delaware corporation (the “Company”), and
Michael Garippa (the “Executive”). 
 In consideration of the mutual covenants contained herein and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 1. Employment.
The Company shall employ the Executive, and the Executive hereby accepts employment with the Company, upon the terms and conditions set forth in this Agreement for the period beginning on the date hereof and ending as provided in
Section 4 hereof (the “Employment Period”). 
 2. Position and Duties. 

(a) During the Employment Period, the Executive shall serve as the President of the Company with duties, responsibilities and authority
customary for positions of such nature at similarly situated corporations, subject to the power of the CEO to expand or limit such duties, responsibilities and authority. 

The President will initially be responsible for any subsidiaries of SynCardia Systems and the President will guide the Sales, Marketing,
Clinical Support and Market Communication functions of SynCardia. It is anticipated that the President may eventually succeed to the position of CEO and upon succeeding to the position of CEO guide all functions of the company and report directly to
the SynCardia Board of Directors (the “Board”). 
 (b) During the Employment Period, the Executive shall report to CEO and
shall devote his best efforts and his full business time and attention (except for permitted vacation periods and reasonable periods of illness or other incapacity) to the business and affairs of the Company and its Subsidiaries. The Executive shall
perform his duties and responsibilities to the Company and its Subsidiaries hereunder to the best of his abilities in a diligent, trustworthy, businesslike and efficient manner. 

(c) For purposes of this Agreement, “Subsidiaries” shall mean any corporation or other entity of which the securities or
other ownership interests having the voting power to elect a majority of the board of directors or other governing body are, at the time of determination, owned by the Company, directly or through one or more Subsidiaries. 

3. Compensation and Benefits. 

(a) During the Employment Period, the Executive’s base salary shall be $300,000 (Three Hundred Thousand Dollars) per annum or such other
rate as the Board may designate from time to time (the “Base Salary”), which salary shall be payable in regular installments in accordance with the Company’s general payroll practices. In addition, during the Employment Period,
the Executive shall be entitled to participate in all of the Company’s 

  
 1 

 
employee benefit programs for which senior executive employees of the Company and its Subsidiaries are generally eligible, and the Executive shall be entitled to four weeks of paid vacation each
year, the accrual and use of which shall be governed by the Company’s general policy relating to vacation and vacation pay. 
 (b)
During the Employment Period, the Company shall reimburse the Executive for all reasonable expenses incurred by him in the course of performing his duties and responsibilities under this Agreement which are consistent with the Company’s
policies in effect from time to time with respect to travel, entertainment and other business expenses, subject to the Company’s requirements with respect to reporting and documentation of such expenses. 

(c) In addition to the Base Salary, the Board shall award incentive compensation to the Executive based upon the Company’s financial
performance, as follows: the Executive shall receive three percent (3%) of any year over year improvement in the Company’s EBITDA, calculated based on the Company’s fiscal year (the “Incentive Compensation”). 

For example, if in fiscal year one the EBITDA is $9,000,000 and if in year two the EBITDA is $23,000,000 the year over year improvement is
$14,000,000. The Incentive Compensation amount awardable to the Executive in such example is then 3% of $14,000,000 or $420,000. For any fiscal year in which there is not an improvement in EBITDA over the prior fiscal year, the Executive shall not
be eligible to receive Incentive Compensation. For purposes of this Agreement “EBITDA” shall mean the Company’s earnings calculated before interest, taxes, depreciation and amortization, as reflected in the Company’s
audited fiscal year-end financial statements determined in accordance with GAAP and consistent with the Company’s historical accounting practices. For purposes of this Agreement, in determining EBITDA: 1) EBITDA shall be computed without regard
to “extraordinary items” of gain or loss as that term shall be defined by GAAP; 2) EBITDA shall not include any reductions in the amount of reserves in excess of five percent (5%) of the then existing total reserves set forth on the
Company’s balance sheet, including without limitation, reserves for inventory and bad debt; and 3) EBITDA shall not include any gains, losses or profits realized from the sale of any capital assets other than in the ordinary course of
business.) Any Incentive Compensation owed to Executive shall be paid within sixty (60) days following the close of the applicable fiscal year. For fiscal year 2010, any Incentive Compensation shall be pro-rated based upon the number of days
within fiscal year 2010 the Executive served pursuant to this Agreement. 
 (d) In addition to the Base Salary, as soon as practical on or
following the commencement of Executive’s employment hereunder, the Board shall grant Executive a stock option (the “Option”) pursuant to the terms of the Company’s [Stock Option Plan]1 (the “Plan”) to purchase up to 430,000 shares of the Company’s common stock at an exercise price of $6.15 per share. The Option shall have a 10 year term and shall be subject to
the standard terms and conditions of the Plan. The Option shall vest as follows: 
 (i) 150,000 shares underlying the Option shall be fully
vested as of grant; 
  

	1 	Need to confirm correct name. 

  
 2 

 (ii) following the completion of the Company’s initial public offering of its common stock,
an additional 40,000 shares underlying the Option shall vest on each date that it is determined that the Company’s market capitalization, as determined in accordance with Section 3(d)(iii), shall for the first time equal or exceed any of
the following threshold amounts, provided that the Executive remains employed by the Company as of such vesting date: 
 (A) equal to or
greater than $400 million; 
 (B) equal to or greater than $500 million; 

(C) equal to or greater than $600 million; 

(D) equal to or greater than $700 million; 

(E) equal to or greater than $800 million; 

(F) equal to or greater than $900 million; and 

(G) equal to or greater than $1 billion. 

(iii) The Company’s market capitalization shall be deemed to have met the foregoing threshold amounts if the product of (A) the
closing sales price of the Company’s common stock, as reported on the principal market for the Company’s common stock multiplied by (B) the number of shares of common stock of the Company outstanding as of the close of business, shall
have exceeded the applicable threshold for a period of ten (10) consecutive trading days, as determined in the reasonable discretion of the Company’s compensation committee of the Board. For clarification, each threshold, and the
associated vesting of 40,000 shares, shall only occur one time on the first time that it is determined that such threshold has been met. 

(iv) In the event of an acquisition by the Company of any other unaffiliated company (whether through a merger, acquisition of assets, stock
purchase or otherwise) in exchange for stock of the Company, then, upon the consummation of each such acquisition, the threshold amounts set forth in sections 3(d)(ii) (A) – (G) above shall each be adjusted according to the following
formula: 
 A = B x (C / D) 

Where: 
 A = post acquisition
adjusted threshold amount 
 B = threshold amount immediately prior to such acquisition (as adjusted by any previous adjustments pursuant to
this subparagraph (iv)) 
 C = number of shares of the Company’s outstanding common stock immediately following such acquisition (plus
any such shares issuable on a contingent basis in connection with the acquisition, including shares subject to any earn-out, escrow, holdback or similar 

  
 3 

 
provision; provided that if it is finally determined in the reasonable discretion of the compensation committee that any such contingent shares shall not be issued or issuable in
connection with such acquisition, then the post acquisition adjusted threshold amounts shall be recomputed to the amount that would have been applicable on the date of such acquisition had such contingent shares not been included in the calculation)

 D = number of shares of the Company’s outstanding common stock immediately prior to such acquisition 

(v) In the event that the Executive’s employment with the Company is terminated by the Company without Cause or by the Executive for Good
Reason during the period commencing one (1) month prior to and ending thirteen (13) months following the closing of a [Change of Control]2, as defined in the Plan, the then upon such
termination 100% of the unvested shares underlying the Option shall immediately vest and become exercisable. 
 4. Term. 

(a) The Employment Period shall end on the three (3) year anniversary of the date of this Agreement; provided that the Employment Period
will automatically extend for an additional one (1) year period at each scheduled end of the Employment Period unless either party provides written notice to the other party within ninety (90) calendar days of the scheduled end of the
Employment Period that such Party does not wish to extend the Employment Period as contemplated by this Section 4(a). Notwithstanding the foregoing, (i) the Employment Period shall terminate immediately upon the Executive’s
death or Complete Disability, (ii) the Employment Period may be terminated by the Executive any time prior to such date for Good Reason or without Good Reason, and (iii) the Employment Period may be terminated by the Company at any time
prior to such date for Cause or without Cause. Except as otherwise provided herein, any termination of the Employment Period by the Company shall be effective as specified in a written notice from the Company to the Executive. 

(b) If the Employment Period (i) is terminated by the Company for Cause, (ii) is terminated by the Executive without Good Reason,
(iii) is terminated as a result of the Executive’s death or Complete Disability, or (iv) is not extended pursuant to Section 4(a), the Executive shall only be entitled to receive his Base Salary and any accrued and unused
vacation earned through the date of termination or expiration. 
 (c) If the Employment Period is terminated by the Company or its
successors in interest without Cause or by the Executive with Good Reason, the Executive shall be entitled to continue to receive his Base Salary payable in regular installments from the date of termination through the earlier to occur of
(i) the scheduled termination of the Employment Period without giving effect to any subsequent extension under Section 4(a) or (ii) the two year anniversary of the termination of the Employment Period (the “Severance
Period”) and payment in respect of any accrued and unused vacation, in each case, if and only if the Executive has executed and delivered to the Company the General Release substantially in form and substance as set forth in Exhibit
A attached hereto and only so long as the Executive has not breached the 
  

	2 	Need to confirm defined term in Plan. 

  
 4 

 
provisions of Sections 4, 6 and 7 hereof. Notwithstanding the foregoing sentence, in the event that the effective date of any such termination without Cause or with Good
Reason shall occur within thirty (30) days prior to or one (1) year following a “Change of Control” (as defined herein), the Severance Period shall be the greater of the Severance Period as specified in the foregoing
sentence or one (1) year following the effective date of such termination, whichever is greater. For purposes of this Agreement “Change of Control” shall mean (i) a sale of all or substantially all of the assets of the
Company; (ii) a merger or consolidation in which the Company is not the surviving entity and in which the holders of the Company’s outstanding voting stock immediately prior to such transaction own, immediately after such transaction,
securities representing less than fifty percent (50%) of the voting power of the entity surviving such transaction or, where the surviving entity is a wholly-owned subsidiary of another entity, the surviving entity’s parent; or
(iii) a reverse merger in which the Company is the surviving entity but the shares of Common Stock outstanding immediately preceding the merger are converted by virtue of the merger into other property, whether in the form of securities of the
surviving entity’s parent, cash or otherwise, and in which the holders of the Company’s outstanding voting stock immediately prior to such transaction own, immediately after such transaction, securities representing less than fifty percent
(50%) of the voting power of the Company or, where the Company is a wholly-owned subsidiary of another entity, the Company’s parent; provided, however, that nothing in this paragraph shall apply to a sale of assets, merger or other
transaction effected exclusively for the purpose of changing the domicile of the Company. 
 (d) Except as otherwise expressly provided
herein, all of the Executive’s rights to salary, bonuses, warrants, fringe benefits and other compensation hereunder which accrue or become payable after the termination or expiration of the Employment Period shall cease upon such termination
or expiration. 
 (e) For purposes of this Agreement, “Cause” shall mean (i) being charged, indicted or convicted of a
felony or other crime involving moral turpitude, or the commission of any other act or omission involving dishonesty, disloyalty or fraud with respect to the Company or any of its Subsidiaries or any of their customers or suppliers,
(ii) chronic drug or alcohol abuse or other repeated conduct causing the Company or any of its Subsidiaries substantial public disgrace or disrepute or economic harm, (iii) substantial and repeated failure to perform duties as reasonably
directed by the CEO, which has not been cured after the giving of thirty (30) days notice of such failure, (iv) gross negligence or willful misconduct with respect to the Company or any of its Subsidiaries or (v) any other material
breach of the Transaction Agreements after, in the case of this Agreement, the giving of thirty (30) days notice of such breach and opportunity to cure, and in the case of other Transaction Agreements, any applicable notice and opportunity to
cure expressly provided for therein. 
 (f) For purposes of this Agreement, “Good Reason” shall mean the following:
(i) any material reduction in the Executive’s base salary or benefits not otherwise applicable in the same proportions to other executive officers of the Company and (ii) any material diminution of the Executive’s
responsibilities and authority; provided however, that any resignation by the Executive due to any of the foregoing conditions shall only be deemed for Good Reason if: (i) the Executive gives the Company written notice of the intent to
terminate for Good Reason within ninety (90) days following the first occurrences of the condition(s) that the Executive believes constitutes Good Reason, which notice shall describe such condition(s); (ii) the

  
 5 

 
Company fails to remedy, if remediable, such condition(s) within thirty (30) days following receipt of the written notice (the “Cure Period”) of such condition(s) from the
Executive, and (iii) the Executive actually resigns his employment within the first ninety (90) days after expiration of the Cure Period. 

(g) For purposes of this Agreement, “Complete Disability” shall mean the inability of the Executive to perform the
Executive’s duties under this Agreement because the Executive has become permanently disabled within the meaning of any policy of disability income insurance covering employees of the Company then in force. In the event the Company has no
policy of disability income insurance covering employees of the Company in force when the Executive becomes disabled, the term “Complete Disability” shall mean the inability of the Executive to perform the Executive’s duties
under this Agreement by reason of any incapacity, physical or mental, which the Board, based upon medical advice or an opinion provided by a licensed physician acceptable to the Board, determines to have incapacitated the Executive from
satisfactorily performing all of the Executive’s usual services for the Company for a period of more than sixty (60) days during any twelve (12) month period. Based upon such medical advice or opinion, the determination of the Board
shall be final and binding and the date such determination is made shall be the date of such Complete Disability for purposes of this Agreement. 

(h) 409A. Notwithstanding anything to the contrary herein, the following provisions apply to the extent severance benefits provided
herein are subject to Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and the regulations and other guidance thereunder and any state law of similar effect (collectively “Section
409A”). Severance benefits shall not commence until the Executive has a “separation from service” for purposes of Section 409A. Each installment of severance benefits is a separate “payment” for purposes of Treas.
Reg. Section 1.409A-2(b)(2)(i), and the severance benefits are intended to satisfy the exemptions from application of Section 409A provided under Treasury Regulations Sections 1.409A-1(b)(4), 1.409A-1(b)(5) and 1.409A-1(b)(9). However, if
such exemptions are not available and the Executive is, upon separation from service, a “specified employee” for purposes of Section 409A, then, solely to the extent necessary to avoid adverse personal tax consequences under
Section 409A, the timing of the severance benefits payments shall be delayed until the earlier of (i) six (6) months and one day after the Executive’s separation from service, or (ii) the Executive’s death. 

The Executive shall receive severance benefits only if the Executive executes and returns to the Company, within the applicable time period
set forth therein but in no event more than forty-five (45) days following the date of separation from service, a separation agreement containing the Company’s standard form of release of claims in favor of the Company [(attached to this
Agreement as Exhibit A)], and permits such release to become effective in accordance with its terms (such latest permitted date, the “Separation Agreement Deadline”). If the severance benefits are not covered by one or more
exemptions from the application of Section 409A and the separation agreement could become effective in the calendar year following the calendar year in which the Executive separates from service, the separation agreement will not be deemed
effective any earlier than the Separation Agreement Deadline. None of the severance benefits will be paid or otherwise delivered prior to the effective date of the separation agreement. Except to the minimum extent that payments must be delayed
because the Executive 

  
 6 

 
is a “specified employee” or until the effectiveness of the separation agreement, all amounts will be paid as soon as practicable in accordance with the Company’s normal payroll
practices. 
 (i) 280G. If any payment or benefit the Executive would receive pursuant to a Change in Control from the Company or
otherwise (“Payment”) would i) constitute a “parachute payment” within the meaning of Section 280G of the Code, and ii) but for this sentence, be subject to the excise tax imposed by Section 4999 of the Code (the
“Excise Tax”), then such Payment shall be equal to the Reduced Amount. The “Reduced Amount” shall be either (x) the largest portion of the Payment that would result in no portion of the Payment being subject to the
Excise Tax or (y) the largest portion, up to and including the total, of the Payment, whichever amount, after taking into account all applicable federal, state and local employment taxes, income taxes, and the Excise Tax (all computed at the
highest applicable marginal rate), results in the Executive’s receipt, on an after-tax basis, of the greater amount of the Payment notwithstanding that all or some portion of the Payment may be subject to the Excise Tax. If a reduction in
payments or benefits constituting “parachute payments” is necessary so that the Payment equals the Reduced Amount, reduction shall occur in the manner that results in the greatest economic benefit for the Executive. If more than one method
of reduction will result in the same economic benefit, then the items so reduced will be reduced pro rata. 
 In the event it is
subsequently determined by the Internal Revenue Service that some portion of the Reduced Amount is subject to the Excise Tax, the Executive agrees to promptly return to the Company a sufficient amount of the Payment so that no portion of the Reduced
Amount is subject to the Excise Tax. For the avoidance of doubt, if the full amount of the Payment results in greater economic benefit than the Reduced Amount, the Executive will have no obligation to return any portion of the Payment pursuant to
the preceding sentence. 
 The accounting firm engaged by the Company for general tax compliance purposes as of the day prior to the
effective date of the Change in Control shall perform the foregoing calculations. If the accounting firm so engaged by the Company is serving as accountant or auditor for the individual, entity or group effecting the Change in Control, the Company
shall appoint a nationally recognized accounting firm to make the determinations required hereunder. The Company shall bear all expenses with respect to the determinations by such accounting firm required to be made hereunder. 

The accounting firm engaged to make the determinations hereunder shall provide its calculations, together with detailed supporting
documentation, to the Executive and the Company within fifteen (15) calendar days after the date on which Executive’s) right to a Payment is triggered (if requested at that time by the Executive or the Company) or such other time as
requested by Executive or the Company. 
 Notwithstanding the above, prior to any reduction in Payments under this Section 5(i), at the
Executive’s request and if the Executive agrees to waive the rights to receive Payments that would otherwise be subject to the Excise Tax in the event of non-approval, the Company agrees to solicit a vote of all eligible shareholders for
approval of such amounts such that the Payments will not be subject to Excise Tax in accordance with the procedures set forth in Q&As 6 and 7 of Section 1.280G-1 of the Treasury Regulations or any superseding provision of such regulations.

  
 7 

 5. Confidential Information. The Executive acknowledges that the information, observations
and data (including trade secrets) obtained by him while employed by the Company and its Subsidiaries concerning the business or affairs of the Company or any of its Subsidiaries (“Confidential Information”) are the property of the
Company or such Subsidiary. Therefore, the Executive agrees that he shall not disclose to any unauthorized person or use for his own purposes any Confidential Information without the prior written consent of the Board, unless and to the extent
(a) such Confidential Information becomes generally known to and available for use by the public other than as a result of the Executive’s acts or omissions or (b) required by applicable law. The Executive shall deliver to the Company
at the termination or expiration of the Employment Period, or at any other time the Company may request, all memoranda, notes, plans, records, reports, computer tapes, printouts and software and other documents and data (and copies thereof)
embodying or relating to the Confidential Information, Work Product (as defined below) or the business of the Company or any Subsidiaries which he may then possess or have under his control. 

6. Inventions and Patents. The Executive acknowledges that all inventions, innovations, improvements, developments, methods, designs,
analyses, drawings, reports and all similar or related information (whether or not patentable) which relate to the Company’s or any of its Subsidiaries’ actual or anticipated business, research and development or existing or future
products or services and which are conceived, developed or made by the Executive while employed by the Company and its Subsidiaries (“Work Product”) belong to the Company or such Subsidiary. The Executive shall promptly disclose
such Work Product to the Board and, at the Company’s expense, perform all actions reasonably requested by the Board (whether during or after the Employment Period) to establish and confirm such ownership (including, without limitation,
assignments, consents, powers of attorney and other instruments). 
 7. Non-Compete, Non-Solicitation. 

(a) The Executive acknowledges and agrees that as a member of the Senior Management Team of Company, The Executive will have access to, and
will regularly be exposed to, and in some cases will generate and control, confidential, sensitive, and competitively valuable information about the Company, its employees, and its customers. The Executive understands and agrees that Company’s
services, products, and methods of doing business are unique, and that Company has a legitimate business interest in protecting its relationship with its customers, its Confidential Information its goodwill, and its investment in its employees. The
Executive also understands and agrees that Company has developed through considerable time, effort, and expense, confidential and proprietary business materials, including but not limited to, financial, marketing, sales, and promotional materials,
as well as significant and valuable relationships with its customers, vendors, suppliers, and other business partners. The Executive agrees and acknowledges that Company’s relationships with its customers, vendors, suppliers, business partners,
and employees, as well its confidential and proprietary information, are valuable and legitimate protectable interests, and therefore agrees to be bound by the restrictive covenants in this Agreement. Because The Executive will be a member of
Company’s Senior Management Team, The Executive acknowledges and agrees that The Executive will learn and have access to information about the Company, as well s relationships with Company customers and business partners, that would be
extremely valuable to a competitor of Company. Therefore, the Executive agrees that, during the Employment Period 

  
 8 

 
and for twelve (12) months following the conclusion of the Employment Period or the Severance Period, whichever date is later (the “Noncompete Period”); or, in the
alternative, if a court of competent jurisdiction determines that the foregoing definition of the Noncompete Period is overbroad and/or unenforceable, then the Noncompete Period means the twelve (12) months following the conclusion of the
Employment Period, he shall not directly or indirectly own any interest in, manage, control, participate in, consult with, advise, render services for, be employed by, or in any manner engage in any business that designs, produces, develops,
manufactures, distributes, sells, markets, or promotes any mechanical circulatory assist and/or support device (including but not limited to biventricular assist device therapy) within the “Restricted Territory”. For purposes of
this Agreement “Restricted Territory” means the Earth; or, in the alternative, in the event a court of competent jurisdiction determines that the foregoing definition of Restricted Territory is overbroad and/or unenforceable, then
the Restricted Territory means North America, South America, the Asia Pacific countries, and Europe; or, in the alternative, in the event a court of competent jurisdiction determines that the foregoing definition of Restricted Territory is overbroad
and/or unenforceable, then the Restricted Territory means the United States of America (including its territories and possessions). Nothing herein shall prohibit the Executive from being a passive owner of not more than 2% of the outstanding stock
of any class of a corporation which is publicly traded, so long as the Executive has no active participation in the business of such corporation. 

(b) During the Noncompete Period, the Executive shall not directly or indirectly through another entity (i) induce or attempt to induce
any employee of the Company or any Subsidiary to leave the employ of the Company or such Subsidiary, or in any way interfere with the relationship between the Company or any Subsidiary and any employee thereof, (ii) hire any person who was an
employee of the Company or any Subsidiary at any time during the Employment Period or (iii) induce or attempt to induce any customer, supplier, licensee, licensor, franchisee or other business relation of the Company or any Subsidiary to cease
doing business with the Company or such Subsidiary, or in any way interfere with the relationship between any such customer, supplier, licensee or business relation and the Company or any Subsidiary (including, without limitation, making any
negative or disparaging statements or communications regarding the Company or its Subsidiaries). Notwithstanding the foregoing, nothing herein shall prohibit the Executive from general advertising for personnel not specifically targeting any
employee or other personnel of the Company, or from hiring any such employee or other personnel responding to such general advertising. 

(c) If, at the time of enforcement of this Section 7, a court shall hold that the duration, scope or area restrictions stated
herein are unreasonable under circumstances then existing, the parties agree that the maximum duration, scope or area reasonable under such circumstances shall be substituted for the stated duration, scope or area and that the court shall be allowed
to revise the restrictions contained herein to cover the maximum period, scope and area permitted by law. The Executive acknowledges that the restrictions contained in this Section 7 are reasonable and that he has reviewed the provisions
of this Agreement with his legal counsel. 
 (d) In the event of the breach or a threatened breach by the Executive of any of the provisions
of this Section 7, the Company, in addition and supplementary to other rights and remedies existing in its favor, shall be entitled to specific performance and/or injunctive or other equitable relief from a court of competent
jurisdiction in order to enforce or prevent any 

  
 9 

 
violations of the provisions hereof (without posting a bond or other security). In addition, in the event of an alleged breach or violation by the Executive of this Section 7, the
Noncompete Period shall be tolled until such breach or violation has been duly cured. 
 8. The Executive’s Representations. The
Executive hereby represents and warrants to the Company that (i) the execution, delivery and performance of this Agreement by the Executive do not and shall not conflict with, breach, violate or cause a default under any contract, agreement,
instrument, order, judgment or decree to which the Executive is a party or by which he is bound, (ii) the Executive is not a party to or bound by any employment agreement, noncompete agreement or confidentiality agreement with any other person
or entity and (iii) upon the execution and delivery of this Agreement by the Company, this Agreement shall be the valid and binding obligation of the Executive, enforceable in accordance with its terms. The Executive hereby acknowledges and
represents that he has consulted with independent legal counsel regarding his rights and obligations under this Agreement and that he fully understands the terms and conditions contained herein. 

9. Survival. Sections 5 through 19 shall survive and continue in full force in accordance with their terms
notwithstanding the expiration or termination of the Employment Period. 
 10. Notices. Any notice provided for in this Agreement
shall be in writing and shall be either personally delivered, sent by reputable overnight courier service or mailed by first class mail, return receipt requested, to the recipient at the address below indicated: 

Notices to the Executive: 

Notices to the Company: 

SynCardia Systems Inc., 
 1992
East Silverlake 
 Tucson, Arizona 85713 
 or
such other address or to the attention of such other person as the recipient party shall have specified by prior written notice to the sending party. Any notice under this Agreement shall be deemed to have been given when so delivered, sent or
mailed. 
 11. Severability. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be
effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability
shall not affect any other provision or any action in any other jurisdiction, but this Agreement shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein.

  
 10 

 12. Complete Agreement. This Agreement and those documents expressly referred to herein
and other documents of even date herewith embody the complete agreement and understanding among the parties and supersede and preempt any prior understandings, agreements or representations by or among the parties, written or oral, which may have
related to the subject matter hereof in any way. 
 13. No Strict Construction. The language used in this Agreement shall be deemed
to be the language chosen by the parties hereto to express their mutual intent, and no rule of strict construction shall be applied against any party. 

14. Counterparts. This Agreement may be executed in separate counterparts, each of which is deemed to be an original and all of which
taken together constitute one and the same agreement. 
 15. Successors and Assigns. This Agreement is intended to bind and inure to
the benefit of and be enforceable by the Executive, the Company and their respective heirs, successors and assigns, except that the Executive may not assign his rights or delegate his duties or obligations hereunder without the prior written consent
of the Company. 
 16. Choice of Law. All issues and questions concerning the construction, validity, enforcement and interpretation
of this Agreement and the exhibits and schedules hereto shall be governed by, and construed in accordance with, the laws of the State of Arizona, without giving effect to any choice of law or conflict of law rules or provisions (whether of the State
of Arizona or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Arizona. 

17. Amendment and Waiver. The provisions of this Agreement may be amended or waived only with the prior written consent of the Company
and the Executive, and no course of conduct or failure or delay in enforcing the provisions of this Agreement shall affect the validity, binding effect or enforceability of this Agreement. 

18. Moving Allowance. The Company shall reimburse the Executive for reasonable expenses incurred in moving his principal place of
residence from Pittsburgh, Pennsylvania to Tucson, Arizona including a non accountable portion of moving allowance of $12,000 (Twelve Thousand Dollars)up to a maximum of $37,000 (Thirty Seven Thousand Dollars). 

19. Pittsburgh Housing Allowance. The Company shall provide the Executive with a payment of two thousand dollars ($2,000) per month
from the effective date of this Agreement through September 30, 2010, in consideration of Executive’s current lease obligations (the “Pittsburgh Housing Allowance”). Such Pittsburgh Housing Allowance shall be pro-rated for
any partial month. 
 20. Tucson Housing Allowance. The Company shall provide the Executive with a payment of three thousand six
hundred dollars ($3,600) per month commencing on the date the Executive first performs services as President of the Company through September 30, 2010 (the “Tucson Housing Allowance”) in consideration of the Executive’s
need to maintain 

  
 11 

 
temporary lodgings in Tucson, Arizona. Such Tucson Housing Allowance shall be pro-rated for any partial month of service as President. 

21. Board Approval. This Agreement is subject to ratification by the SynCardia Board of Directors 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first written above. 

 

					
	SYNCARDIA SYSTEMS, INC.
		
	By:		/s/ Rodger Ford
		 	  

			Rodger Ford, CEO		 May 14 2010

	
	MICHAEL GARIPPA
	
	 /s/ Michael Garippa

	  

	Michael Garippa		 May 2010

  
 12 

 EXHIBIT A 

RELEASE AND WAIVER OF CLAIMS 

TO BE SIGNED FOLLOWING TERMINATION WITHOUT CAUSE OR 

WITH GOOD REASON 
 In
consideration of the payments and other benefits set forth in Section 4(c) of the Employment Agreement dated May 15, 2010 (the “Employment Agreement”), to which this form is attached, I, Michael Garippa, hereby
furnish SynCardia Systems, Inc. (the “Company”), with the following release and waiver (“Release and Waiver”): 

In exchange for the consideration provided to me by the Employment Agreement that I am not otherwise entitled to receive, I hereby generally
and completely release the Company and its directors, officers, employees, shareholders, partners, agents, attorneys, predecessors, successors, parent and subsidiary entities, insurers, affiliates, and assigns from any and all claims, liabilities
and obligations, both known and unknown, that arise out of or are in any way related to events, acts, conduct, or omissions occurring prior to my signing this Release and Waiver. This general release includes, but is not limited to: (1) all
claims arising out of or in any way related to my employment with the Company or the termination of that employment; (2) all claims related to my compensation or benefits from the Company, including, but not limited to, salary, bonuses,
commissions, vacation pay, expense reimbursements, severance pay, fringe benefits, stock, stock options, or any other ownership interests in the Company, except to the extent that such claims cannot be released pursuant to the Arizona law;
(3) all claims for breach of contract, wrongful termination, and breach of the implied covenant of good faith and fair dealing; (4) all tort claims, including, but not limited to, claims for fraud, defamation, emotional distress, and
discharge in violation of public policy; and (5) all federal, state, and local statutory claims, including, but not limited to, claims for discrimination, harassment, retaliation, attorneys’ fees, or other claims arising under the federal
Civil Rights Act of 1964 (as amended), the federal Americans with Disabilities Act of 1990, the federal Age Discrimination in Employment Act of 1967 (as amended) (“ADEA”), the Arizona Civil Rights Act, the Arizona Equal Pay
Law, and the Arizona Employment Relationship and Constructive Discharge Law. 
 If I am 40 years of age or older, I acknowledge that, among
other rights, I am waiving and releasing any rights I may have under ADEA, that this Release and Waiver is knowing and voluntary, and that the consideration given for this Release and Waiver is in addition to anything of value to which I was already
entitled as an executive of the Company. I further acknowledge that I have been advised, as required by the Older Workers Benefit Protection Act, that: (a) the release and waiver granted herein does not relate to claims under the ADEA which may
arise after this Release and Waiver is executed; (b) I should consult with an attorney prior to executing this Release and Waiver; (c) I have twenty-one (21) days (or forty-five (45) days, if so advised by the Company in writing)
in which to consider this Release and Waiver (although I may choose voluntarily to execute this Release and Waiver earlier); (d) I have seven (7) days following the execution of this Release and Waiver to revoke my consent to this Release
and Waiver; and (e) this Release and Waiver shall not be effective until the eighth day after I execute this Release and Waiver and the revocation period has expired (the “Effective Date”). 

  
 13 

 I acknowledge and agree to my continuing obligations under my Employment Agreement. I understand
and agree that my right to the severance pay I am receiving in exchange for my agreement to the terms of this Release and Waiver is contingent upon my continued compliance with my Employment Agreement. 

I represent that I have not filed any claims against the Company, and agree that, except as such waiver may be prohibited by statute, I will
not file any claim against the Company or seek any compensation for any claim other than the payments and benefits referenced herein. I agree to indemnify and hold the Company harmless from and against any and all loss, cost, and expense, including,
but not limited to court costs and attorney’s fees, arising from or in connection with any action which may be commenced, prosecuted, or threatened by me or for my benefit, upon my initiative, or with my aid or approval, contrary to the
provisions of this Release and Waiver. 
 This Release and Waiver, including any referenced documents, constitutes the complete, final and
exclusive embodiment of the entire agreement between the Company and me with regard to the subject matter hereof. I am not relying on any promise or representation by the Company that is not expressly stated herein. This Release and Waiver may only
be modified by a writing signed by both me and a duly authorized member of the Board of Directors of the Company. 
  

									
	Date:		  
				By:		  

									MICHAEL GARIPPA

  
 14 

 SYNCARDIA SYSTEMS, INC. 

AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT 

This AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT (this “Amendment”) is made as of January 19, 2011, by and between
SYNCARDIA SYSTEMS, INC., a Delaware corporation (the “Company”) and Michael Garippa (the “Executive”). This Amendment shall amend that
certain Employment Agreement, dated on or about May 19, 2010 (the “ Employment Agreement”), by and between the Company and the Executive. 

RECITALS 
 WHEREAS,
Section 17 of the Employment Agreement provides that any term of the Employment Agreement may be amended with the written consent of the Company and the Executive; and 

WHEREAS, the parties desire to amend the Employment Agreement as set forth herein. 

NOW, THEREFORE, for good and valuable consideration, the sufficiency of which is hereby acknowledged, the parties hereto hereby agree
as follows: 
 1. AMENDMENT AND RESTATEMENT OF THE
FIRST SENTENCE OF SECTION 3(d) OF THE EMPLOYMENT AGREEMENT. The first sentence of Section 3(d) of
the Employment Agreement is hereby amended and restated to read in its entirety as follows: 
 “In addition to the Base Salary, the
Board shall grant Executive stock options (the “Option”) pursuant to the terms of the Company’s Long Term Incentive Plan (the “Plan”) to purchase up to 513,355 shares of the Company’s common stock at an
exercise price equal to the fair market value of the Company’s common stock, as determined in good faith by the Board at the time of grant.” 

2. AMENDMENT AND RESTATEMENT OF SECTION 3(d)(i)
OF THE EMPLOYMENT AGREEMENT. Section 3(d)(i) of the Employment Agreement is hereby amended and restated to read in its entirety as follows: 

“179,077 shares underlying the Option shall be fully vested as of the date of grant;” 

3. AMENDMENT OF SECTIONS 3(d)(ii) AND 3(d)(iii) OF
THE EMPLOYMENT AGREEMENT. Each instance in which the phrase “40,000 shares” appears in Sections 3(d)(ii) and 3(d)(iii) of the Employment Agreement shall hereby be amended and
restated to be “47,754 shares”. 
 4. COUNTERPARTS. This Amendment may be executed in any
number of counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

 5. GOVERNING LAW. All issues and questions
concerning the construction, validity, enforcement and interpretation of this Amendment and the exhibits and schedules hereto shall be governed by, and construed in accordance with, the laws of the State of Arizona without giving effect to any
choice of law or conflict of law rules or provisions (whether of the State of Arizona or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Arizona. 

6. NO OTHER AMENDMENT TO THE EMPLOYMENT
AGREEMENT. Except as specifically amended by this Amendment, all other terms and conditions of the Employment Agreement shall remain in full force and effect in accordance with their terms without modification. 

[Remainder of Page Intentionally Left Blank] 

  
 2. 

 IN WITNESS WHEREOF, the undersigned hereby executes this Amendment as of the date first
above written. 
  

			
	SYNCARDIA SYSTEMS, INC.
		
	Signature:		/s/ J. David Mackstaller
		 	  

			J. David Mackstaller
			Secretary
	
	EXECUTIVE
		
	Signature:		/s/ Michael Garippa
		 	  

			Michael Garippa

 SYNCARDIA SYSTEMS, INC. 

AMENDMENT TO AMENDMENT NO. 1 TO EMPLOYMENT
AGREEMENT 
 This AMENDMENT TO AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT (this “New Amendment”) is
made as of January 21, 2011, by and between SYNCARDIA SYSTEMS, INC., a Delaware corporation (the “Company”) and Michael Garippa (the
“Executive”). This New Amendment shall amend that certain Amendment No. 1 to Employment Agreement, dated January 19, 2011 (the “Prior Amendment”), by and between the Company and the
Executive. 
 RECITALS 

WHEREAS, the Prior Amendment amended that certain Employment Agreement, dated on or about May 19, 2010, by and between the Company
and the Executive (the “Employment Agreement”); and 
 WHEREAS, certain numbers set forth in the Prior
Amendment were miscalculated due to an administrative error; and 
 WHEREAS, the parties desire to amend the Prior Amendment to
reflect the true intention of the Company and the Executive, as set forth herein. 
 NOW, THEREFORE, for good and valuable
consideration, the sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows: 
 1.
AMENDMENT OF SECTION 1 OF THE PRIOR AMENDMENT. The reference to “513,355 shares” in Section 1 of the Prior Amendment is
hereby replaced with “507,798 shares”. 
 2. AMENDMENT OF SECTION 2
OF THE PRIOR AMENDMENT. The reference to “179,077 shares” in Section 2 of the Prior Amendment is hereby replaced with “177,139 shares”. 

3. AMENDMENT OF SECTION 3 OF THE PRIOR
AMENDMENT. The reference to “47,754 shares” in Section 3 of the Prior Amendment is hereby replaced with “47,237 shares”. 

4. COUNTERPARTS. This New Amendment may be executed in any number of counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same instrument. 
 5. GOVERNING
LAW. All issues and questions concerning the construction, validity, enforcement and interpretation of this New Amendment and the exhibits and schedules hereto shall be governed by, and construed in accordance with,
the laws of the State of Arizona without giving effect to any choice of law or conflict of law rules or provisions (whether of the State of Arizona or any other jurisdiction) that would cause the application of the laws of any jurisdiction other
than the State of Arizona. 

 6. NO OTHER AMENDMENT. Except
as specifically amended by this New Amendment, all other terms and conditions of the Prior Amendment and the Employment Agreement shall remain in full force and effect in accordance with their terms without modification. 

[Remainder of Page Intentionally Left Blank] 

  
 2. 

 IN WITNESS WHEREOF, the undersigned hereby executes this New Amendment as of the date
first above written. 
  

			
	SYNCARDIA SYSTEMS, INC.
		
	Signature:		/s/ J. David Mackstaller
		 	  

			J. David Mackstaller
			Secretary
	
	EXECUTIVE
		
	Signature:		/s/ Michael Garippa
		 	  

			Michael Garippa

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