Document:

Amended and Restated Loan and Security Agreement

 Exhibit 10.1 

AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT 

THIS AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (this “Agreement”) dated as of March 26, 2010 (the
“Effective Date”) between SILICON VALLEY BANK (“Bank”), as collateral agent (the “Collateral Agent”), Bank, as a lender, and OXFORD FINANCE CORPORATION (“Oxford”;
each, of Bank and Oxford are sometimes individually referred to as a “Lender” and collectively, as the “Lenders”), and ALPHATEC SPINE, INC., a California corporation (“Alphatec”) and
ALPHATEC HOLDINGS, INC., a Delaware corporation (“Parent” and together with Alphatec, each a “Borrower” and collectively, “Borrowers”), amends and restates the terms of that certain Loan and
Security Agreement by and between Collateral Agent, Lenders and Borrower, dated as of December 5, 2008, as amended from time to time (the “Original Agreement”), and provides the terms on which Lenders shall lend to Borrowers
and Borrowers shall repay Lender. The parties agree as follows: 
 1 ACCOUNTING AND OTHER TERMS 

Accounting terms not defined in this Agreement shall be construed following GAAP. Calculations and determinations must be made following
GAAP. Capitalized terms not otherwise defined in this Agreement shall have the meanings set forth in Section 13. All other terms contained in this Agreement, unless otherwise indicated, shall have the meaning provided by the Code to the
extent such terms are defined therein. 
 2 LOAN AND TERMS OF PAYMENT 

2.1 Promise to Pay. Borrowers hereby unconditionally promise to pay Lenders the outstanding principal amount of all Credit
Extensions and accrued and unpaid interest thereon and any other amounts due hereunder as and when due in accordance with this Agreement. 

2.1.1 Growth Capital Loan Facility. 

(a) Intentionally Omitted. 

(b) Repayment. Borrowers shall continue to make consecutive equal monthly payments of principal and interest in arrears, to fully
amortize the outstanding amount of the Growth Capital Advance (as defined in and) as provided for in the Original Agreement. All unpaid principal and accrued and unpaid interest is due and payable in full on the Growth Capital Maturity Date with
respect to the Growth Capital Advance. The Growth Capital Advance may only be prepaid in accordance with Sections 2.1.1(c) or 2.1.1(d). 

(c) Prepayment. Borrowers shall have the option to prepay all, but not less than all, of the Growth Capital Advance advanced by
Lenders under this Agreement, provided, (a) Alphatec provides written notice to Lenders of Borrowers’ election to prepay the Growth Capital Advance at least five (5) Business Days prior to such prepayment, and
(b) Borrowers pay, on the date of the prepayment (i) all outstanding principal and accrued interest on the Growth Capital Advance; (ii) the Prepayment Fee (subject to Section 2.5(e)) and the Growth Capital Final Payment; and
(iii) all other sums, including Lenders’ Expenses, if any, that have become due and payable hereunder with respect to the Growth Capital Advance. 

(d) Mandatory Prepayment Upon an Acceleration. If the Growth Capital Advance is accelerated following the occurrence of an Event
of Default, Borrowers shall immediately pay to Lenders an amount equal to the sum of: (i) all outstanding principal plus accrued and unpaid interest on the Growth Capital Advance, (ii) the Prepayment Fee and the Growth Capital Final
Payment, plus (iii) all other sums, if any, that shall have become due and payable, including interest at the Default Rate with respect to any past due amounts. 

2.1.2 Revolving Advances. 

(a) Availability. Subject to the terms and conditions of this Agreement and to deduction of Reserves, Lenders agree, severally
and not jointly, to lend to Borrowers from time to time prior to the Revolving Line Maturity Date, according to each Lender’s pro rata share of the Revolving Line (based upon the respective

 
Revolving Commitment Percentage of each Lender), Revolving Advances not exceeding the Availability Amount. Amounts borrowed hereunder may be repaid and, prior to the Revolving Line Maturity Date,
reborrowed, subject to the applicable terms and conditions precedent herein. 
 (b) Termination; Repayment. The
Revolving Line terminates on the Revolving Line Maturity Date, when the principal amount of all Revolving Advances, the unpaid interest thereon, and all other Obligations relating to the Revolving Line (including but not limited to the Revolving
Line Termination Fee and the Revolving Line Accommodation Fee) shall be immediately due and payable. 
 2.1.3 Letters of
Credit Sublimit. 
 (a) Letters of Credit. As part of the Revolving Line, Bank shall issue or have issued Letters of
Credit for Borrowers’ account. Such aggregate amounts utilized hereunder shall at all times reduce the amount otherwise available for Revolving Advances under the Revolving Line. The face amount of outstanding Letters of Credit (including drawn
but unreimbursed Letters of Credit and any Letter of Credit Reserve) may not exceed One Million Dollars ($1,000,000), inclusive of Credit Extensions relating to Sections 2.1.4 and 2.1.5. The aggregate amount available to be used for the issuance of
Letters of Credit may not exceed (i) the lesser of (A) the Revolving Line or (B) the Borrowing Base, minus (ii) the outstanding principal amount of any Revolving Advances (including any amounts used for Cash Management Services
and the face amount of any outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) and minus (iii) the FX Reduction Amount. If, on the Revolving Line Maturity Date, there are any
outstanding Letters of Credit, then on such date Borrowers shall provide to Agent cash collateral in an amount equal to one hundred five percent (105%) of the face amount of all such Letters of Credit plus all interest, fees, and costs due or
to become due in connection therewith (as estimated by Bank in its good faith business judgment), to secure all of the Obligations relating to said Letters of Credit. All Letters of Credit shall be in form and substance acceptable to Bank in its
sole discretion and shall be subject to the terms and conditions of Bank’s standard Application and Letter of Credit Agreement (the “Letter of Credit Application”). Borrowers agree to execute any further documentation in
connection with the Letters of Credit as Bank may reasonably request. Borrowers further agree to be bound by the regulations and interpretations of the issuer of any Letters of Credit guarantied by Bank and opened for Borrowers’ account or by
Bank’s interpretations of any Letter of Credit issued by Bank for Borrowers’ account, and Borrowers understand and agree that Bank shall not be liable for any error, negligence, or mistake, made in good faith whether of omission or
commission, in following Borrowers’ instructions or those contained in the Letters of Credit or any modifications, amendments, or supplements thereto. 

(b) Letter of Credit Participations. Bank irrevocably agrees to grant and hereby grants to each Lender, and, to induce the Bank
to issue Letters of Credit, each Lender irrevocably agrees to accept and purchase and hereby accepts and purchases from Bank, on the terms and conditions set forth below, for such Lender’s own account and risk an undivided interest equal to
such Lender’s Revolving Commitment Percentage in Bank’s obligations and rights under and in respect of each Letter of Credit and the amount of each draft paid by Bank thereunder. Each Lender agrees with Bank that, if a draft is paid under
any Letter of Credit for which Bank is not reimbursed in full by Borrowers pursuant to Section 2.1.3(c), such Lender shall pay to Bank upon demand at Bank’s address for notices specified herein an amount equal to such Lender’s
Revolving Commitment Percentage of the amount of such draft, or any part thereof, that is not so reimbursed. Each Lender’s obligation to pay such amount shall be absolute and unconditional and shall not be affected by any circumstance,
including (i) any setoff, counterclaim, recoupment, defense or other right that such Lender may have against Bank, Borrowers or any other Person for any reason whatsoever, (ii) the occurrence or continuance of a Default or an Event of
Default or the failure to satisfy any of the other conditions specified in Sections 3.1 or 3.2, (iii) any adverse change in the condition (financial or otherwise) of Borrowers, (iv) any breach of this Agreement or any other Loan Document
by Borrowers or any other Lender or (v) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing. 

(c) Reimbursement. 

(i) If Bank shall make any disbursement in respect of a Letter of Credit, Borrowers shall pay or cause to be paid to Bank an
amount equal to the entire amount of such disbursement not later than the immediately following Business Day. Each such payment shall be made to Bank at its address for notices referred to herein in Dollars and in immediately available funds.

  

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 (ii) If Bank shall not have received from Borrowers the payment that it is required
to make pursuant to Section 2.1.3(c)(i) with respect to a Letter of Credit within the time specified in such Section, Bank will promptly notify the Collateral Agent of the disbursement and the Collateral Agent will promptly notify each Lender
of such disbursement and its Revolving Commitment Percentage thereof, and each Lender shall pay to Bank upon demand at Bank’s address for notices specified herein an amount equal to such Lender’s Revolving Commitment Percentage of such
disbursement; upon such payment pursuant to this paragraph to reimburse Bank for any disbursement, Borrowers shall be required to reimburse the Lenders for such payments (including interest accrued thereon from the date of such payment until the
date of such reimbursement at the rate applicable to Revolving Advances under the Revolving Line) on demand and the Lenders shall be deemed to have extended, and Borrowers shall be deemed to have accepted, a Revolving Advance under the Revolving
Line in the aggregate principal amount of such payment without further action on the part of any party, and the Letter of Credit sublimit shall be reduced by such amount; any amount so paid pursuant to this paragraph shall, on and after the payment
date thereof, be deemed to be Revolving Advances under the Revolving Line for all purposes hereunder. 
 (d) Letter of
Credit Payments. If any draft shall be presented for payment under any Letter of Credit, Bank shall promptly notify Borrowers and the Collateral Agent of the date and amount thereof. The responsibility of Bank to Borrowers in connection with any
draft presented for payment under any Letter of Credit shall, in addition to any payment obligation expressly provided for in such Letter of Credit, be limited to determining that the documents (including each draft) delivered under such Letter of
Credit in connection with such presentment are substantially in conformity with such Letter of Credit. If Bank shall make any disbursement in respect of a Letter of Credit, unless either (i) Borrowers reimburse such disbursement in full within
the time period specified in Section 2.1.3(c) or (ii) the Lenders shall reimburse such disbursement in full on such date as provided in Section 2.1.3(c) then, the unpaid amount thereof shall bear interest for the account of Bank, for
each day from and including the date of such disbursement up to but excluding, the earlier of, the date of payment by Borrowers, at the rate per annum that would apply to such amount if such amount were a Revolving Advance under the Revolving Line;
provided that the provisions of Section 2.1.3(c)(ii) shall be applicable to any such amounts not paid when due. 
 (e)
Obligations Absolute. Borrowers’ obligations under this Section 2.1.3 shall be absolute and unconditional under any and all circumstances and irrespective of any setoff, counterclaim or defense to payment that Borrowers may have or
have had against Bank, any Lender, any beneficiary of a Letter of Credit or any other Person. Borrowers also agree with Bank that Bank, absent Bank’s gross negligence or willful misconduct, shall not be responsible for, and Borrowers’
obligations hereunder shall not be affected by, among other things, the validity or genuineness of documents or of any endorsements thereon, even though such documents shall in fact prove to be invalid, fraudulent or forged, or any dispute between
or among Borrowers and any beneficiary of any Letter of Credit or any other party to which such Letter of Credit may be transferred or any claims whatsoever of Borrowers against any beneficiary of such Letter of Credit or any such transferee. Bank
shall not be liable for any error, omission, interruption or delay in transmission, dispatch or delivery of any message or advice, however transmitted, in connection with any Letter of Credit, except for errors or omissions found by a final and
nonappealable decision of a court of competent jurisdiction to have resulted from the gross negligence or willful misconduct of Bank. Borrowers agree that any action taken or omitted by Bank under or in connection with any Letter of Credit or the
related drafts or documents, if done in the absence of gross negligence or willful misconduct, shall be binding on Borrowers and shall not result in any liability of Bank to Borrowers. 

In addition to amounts payable as elsewhere provided in the Agreement, Borrowers hereby agree to pay and to protect, indemnify, and save
Bank harmless from and against any and all claims, demands, liabilities, damages, losses, costs, charges and expenses (including reasonable attorneys’ fees) that Bank may incur or be subject to as a consequence, direct or indirect, of
(A) the issuance of any Letter of Credit, or (B) the failure of Bank or of any Lender to honor a demand for payment under any Letter of Credit thereof as a result of any act or omission, whether rightful or wrongful, of any present or
future de jure or de facto government or Governmental Authority, in each case other than to the extent solely as a result of the gross negligence or willful misconduct of Bank or such Lender (as finally determined by a court of competent
jurisdiction). 
  

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 (f) Borrowers may request that Bank issue a Letter of Credit payable in a Foreign Currency.
If a demand for payment is made under any such Letter of Credit, Bank shall treat such demand as a Revolving Advance to Borrowers of the equivalent of the amount thereof (plus fees and charges in connection therewith such as wire, cable, SWIFT or
similar charges) in Dollars at the then-prevailing rate of exchange in San Francisco, California, for sales of the Foreign Currency for transfer to the country issuing such Foreign Currency. 

(g) To guard against fluctuations in currency exchange rates, upon the issuance of any Letter of Credit payable in a Foreign Currency,
Bank shall create a reserve (the “Letter of Credit Reserve”) under the Revolving Line in an amount equal to ten percent (10%) of the face amount of such Letter of Credit. The amount of the Letter of Credit Reserve may be
adjusted by Bank from time to time to account for fluctuations in the exchange rate. The availability of funds under the Revolving Line shall be reduced by the amount of such Letter of Credit Reserve for as long as such Letter of Credit remains
outstanding. 
 2.1.4 Foreign Exchange Sublimit. As part of the Revolving Line, Borrowers may enter into foreign
exchange contracts with Lenders under which Borrowers commit to purchase from or sell to Lenders (in accordance with their Revolving Commitment Percentages) a specific amount of Foreign Currency (each, a “FX Forward Contract”) on a
specified date (the “Settlement Date”). FX Forward Contracts shall have a Settlement Date of at least one (1) FX Business Day after the contract date and shall be subject to a reserve of ten percent (10%) of each
outstanding FX Forward Contract in a maximum aggregate amount equal to Two Hundred Fifty Thousand Dollars ($250,000) (such maximum shall be the “FX Reserve”). The aggregate amount of FX Forward Contracts at any one time may not
exceed ten (10) times the amount of the FX Reserve. The amount otherwise available for Credit Extensions under the Revolving Line shall be reduced by an amount equal to ten percent (10%) of each outstanding FX Forward Contract (the
“FX Reduction Amount”). Any amounts that are not paid by Borrowers for any FX Forward Contracts will be treated as Revolving Advances under the Revolving Line under the Revolving Facility and will accrue interest at the
interest rate applicable to Revolving Advances. 
 2.1.5 Cash Management Services Sublimit. Borrowers may use up to One
Hundred Thousand Dollars ($100,000), inclusive of Credit Extensions relating to Sections 2.1.3 and 2.1.4 of the Revolving Line for Bank’s cash management services which may include merchant services, direct deposit of payroll, business credit
card, and check cashing services identified in Bank’s various cash management services agreements (collectively, the “Cash Management Services”). 

2.2 Overadvances. If, at any time, the sum of (a) the outstanding principal amount of any Revolving Advances
(including any amounts used for Cash Management Services), plus (b) the face amount of any outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve), plus (c) the FX Reduction
Amount, exceeds the lesser of either the Revolving Line or the Borrowing Base (such amount being an “Overadvance”), Borrowers shall immediately pay to Lenders in cash the ratable amount (according to each such Lender’s
Revolving Commitment Percentage) of such Overadvance. Without limiting Borrowers’ obligation to repay Lenders any amount of the Overadvance, Borrowers agree to pay Lenders interest on the outstanding amount of any Overadvance, on demand, at the
Default Rate. 
 2.3 Lockbox; Account Collection Services. 

(a) From and after the Effective Date, Borrowers shall direct each Account Debtor (and each depository institution where proceeds of
Accounts are on deposit) to remit payments with respect to the Accounts to a lockbox account established with Bank or to wire transfer payments to a cash collateral account that Bank controls (collectively, the “Lockbox”). It will
be considered an immediate Event of Default if the Lockbox is not set-up and operational as of the date set forth in the preceding sentence. 

(b) Upon receipt by a Borrower of proceeds of Accounts not directed to the Lockbox, if any, such Borrower shall immediately transfer and
deliver same to Bank, for the ratable benefit of the Lenders, along with a detailed cash receipts journal. Provided no Event of Default exists or an event that with notice or lapse of time will be an Event of Default, within three (3) Business
Days of receipt of such amounts by Bank, Bank will turn over to Borrowers the proceeds of the Accounts, less any amounts due to Lenders, such as payments due to the Lenders, other fees and expenses, or otherwise. This Section does not impose any
affirmative duty on any Lender to perform any act other than as specifically set forth herein. All Accounts and the proceeds thereof are Collateral and 

 

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if an Event of Default occurs, Bank may apply the proceeds of such Accounts to the Obligations. Without limiting the foregoing, the Lockbox (and the amounts in the Lockbox) shall be subject to a
“lock box control” agreement which will provide for, among other things the establishment of “control” within the meaning of Article 9 of the UCC. Unless an Event of Default has occurred and is continuing, the Borrowers shall
have immediate and full access to any funds held in the Lockbox account and such funds shall not be subject to any conditions or restrictions whatsoever other than those of the Bank and as provided in this Agreement and related documents; provided,
however, that nothing herein shall (i) affect or reduce Borrowers’ obligations to pay in full all amounts due to Lenders under this Agreement, or (ii) in any manner limit the recourse of Lenders to the Collateral to satisfy the
Borrowers’ Obligations. 
 2.4 Payment of Interest on the Credit Extensions. 

(a) Interest Rates. 

(i) Growth Capital Advance. Subject to Section 2.4(b), the principal amount outstanding for the Growth Capital
Advance shall accrue interest, which interest shall be payable monthly in arrears, at a fixed per annum rate equal to twelve percent (12.00%). 

(ii) Revolving Advances. Subject to Section 2.4(b), the principal amount outstanding under the Revolving Line
shall accrue interest at a per annum rate equal to the greater of (A) four and one half percent (4.50%) above the Prime Rate and (B) eight and one half percent (8.50%); which interest shall be payable monthly. 

(b) Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall bear
interest at a rate per annum which is five percentage points above the rate effective immediately before the Event of Default (but in no event in excess of the maximum rate permitted by then applicable law) (the “Default Rate”).
Payment or acceptance of the increased interest rate provided in this Section 2.4(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or
remedies of Lenders. 
 (c) Adjustment to Interest Rate. Changes to the interest rate of any Credit Extension (accruing
interest at the Prime Rate) based on changes to the Prime Rate shall be effective on the effective date of any change to the Prime Rate and to the extent of any such change. 

(d) 360-Day Year. Interest shall be computed on the basis of a 360-day year of twelve 30-day months. 

(e) Debit of Accounts. Collateral Agent, for the benefit of the Lenders, may debit any of Borrowers’ deposit accounts,
including the Designated Deposit Account, for principal and interest payments or any other amounts Borrowers owe Lenders when due. These debits shall not constitute a set-off. 

(f) Payments; Interest Computation; Float Charge. Unless otherwise provided, interest is payable monthly on the first calendar
day of each month. In computing interest on the Obligations, all Payments received after 1:00 p.m. Pacific time on any day shall be deemed received on the next Business Day. In addition, Lenders shall be entitled to charge Borrowers a
“float” charge in an amount equal to three (3) Business Days’ interest, at the interest rate applicable to the Revolving Advances whether or not any Revolving Advances are outstanding, on all payments received by any Lender. The
float charge for each month shall be payable on the last day of the month. Lenders shall not, however, be required to credit Borrowers’ account for the amount of any item of payment which is unsatisfactory to any Lender in its good faith
business judgment, and Lenders may charge Borrowers’ Designated Deposit Account for the amount of any item of payment which is returned to any Lender unpaid. 

 

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 2.5 Fees. Borrowers shall pay to Collateral Agent: 

(a) Growth Capital Accommodation Fee. A fully earned, non-refundable accommodation fee of Four Hundred Forty Five Thousand
Dollars ($445,000) (the “Growth Capital Accommodation Fee”), on the Effective Date, to be shared among the Lenders pro rata according to the Growth Capital Commitment Percentage of each Lender; 

(b) Revolving Line Accommodation Fee. The Revolving Line Accommodation Fee, when due hereunder; 

(c) Revolving Commitment Fee. A fully earned, non-refundable commitment fee on account of the Revolving Line in the amount of
Sixty Two Thousand Five Hundred Dollars ($62,500) (the “Revolving Commitment Fee”) on the Effective Date and each anniversary thereof, to be shared among the Lenders pro rata according to their Revolving Commitment Percentages of
the Revolving Line; 
 (d) Unused Revolving Line Facility Fee. A fee (the “Unused Revolving Line Facility
Fee”), payable monthly, in arrears, on a calendar year basis, in an amount equal to one half of one percent (0.50%) per annum of the average unused portion of the Revolving Line, as determined by Collateral Agent, for the ratable benefit of
the Lenders according to their Revolving Commitment Percentages. The unused portion of the Revolving Line, for the purposes of this calculation, shall include amounts reserved under the Cash Management Services Sublimit for products provided and
under the Foreign Exchange Sublimit for FX Forward Contracts. Borrowers shall not be entitled to any credit, rebate or repayment of any Unused Revolving Line Facility Fee previously earned by any Lender pursuant to this Section notwithstanding any
termination of the Agreement, or suspension or termination of Lenders’ obligation to make loans and advances hereunder; 

(e) Revolving Line Termination Fee. The Revolving Line Termination Fee, if and when due hereunder. 

(f) Prepayment Fee. The Prepayment Fee, if and when due hereunder; provided however, if as of the date the Prepayment Fee would
otherwise be due and payable, a prepayment is made by Borrowers in connection with an Acquisition and the per share consideration that would be received by the Lenders upon the sale or exchange of the Shares (as defined in the Warrants) issuable to
the Lenders upon exercise of the Warrants in connection with such Acquisition is at least one hundred fifty percent (150%) of the Warrant Price (as defined in the Warrants), then the Prepayment Fee shall be waived by the Lenders; 

(g) Growth Capital Final Payment. The Growth Capital Final Payment, when due hereunder; 

(h) Collateral Monitoring Fee. A monthly collateral monitoring fee of $750, payable in arrears on the last day of each month
(prorated for any partial month at the beginning and upon termination of this Agreement); provided that such fee shall be for the sole account of Bank; and 

(i) Lenders’ Expenses. All Lenders’ Expenses (including reasonable attorneys’ fees and reasonable expenses
incurred in connection with the documentation and negotiation of this Agreement) incurred through and after the Effective Date, when due. 

3 CONDITIONS OF LOANS 

3.1 Conditions Precedent to Initial Credit Extension. Lenders’ obligation to make the initial Credit Extension is subject to
the condition precedent that Lenders shall have received, in form and substance satisfactory to Lenders, such documents, and completion of such other matters, as Lenders may reasonably deem necessary or appropriate, including, without limitation:

 (a) duly executed original signatures to the Loan Documents; 

(b) duly executed original signatures to the Control Agreements, if any; 

 

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 (c) the Operating Documents and a good standing certificate of each Borrower certified by
the Secretary of State of the states of organization and qualification to do business as of a date no earlier than thirty (30) days prior to the Effective Date; 

(d) duly executed original signatures to the completed Borrowing Resolutions for each Borrower (one set for each Lender); 

(e) to the extent not previously provided to the Collateral Agent, the certificate(s) for the Shares, together with stock powers, duly
executed in blank by the applicable Borrower; 
 (f) certified copies, dated as of a recent date, of financing statement
searches, as Lenders shall request, accompanied by written evidence (including any UCC termination statements) that the Liens indicated in any such financing statements either constitute Permitted Liens or have been or, in connection with the
initial Credit Extension, will be terminated or released; 
 (g) to the extent not previously provided to the Collateral Agent,
landlord’s consents for each of Borrowers’ leased properties executed in favor of Collateral Agent, for the ratable benefit of the Lenders; 

(h) a legal opinion of Borrowers’ and Guarantors’ counsel dated as of the Effective Date together with the duly executed
original signatures thereto; 
 (i) two Perfection Certificate(s) executed by Parent (one for each Lender); 

(j) evidence satisfactory to Lenders that the insurance policies required by Section 6.7 hereof are in full force and
effect, together with appropriate evidence showing loss payable and/or additional insured clauses or endorsements in favor of each Lender; 

(k) evidence satisfactory to Lenders that Parent has transferred all issued and outstanding Shares in NexMed to a third party which is
not an Affiliate of any Borrower; and 
 (l) payment of the fees and Lenders’ Expenses then due as specified in
Section 2.5 hereof. 
 3.2 Conditions Precedent to all Credit Extensions. Lenders’ obligations to make
each Credit Extension, including the initial Credit Extension, are subject to the following: 
 (a) Alphatec shall have duly
executed and delivered to Lenders a Payment/Advance Form, together with an executed Transaction Report; 
 (b) Borrowers shall
have duly executed and delivered to each Lender a Note (x) in the outstanding amount of such Lender’s Growth Capital Advance; and (y) in the amount of each Lender’s Revolving Commitment Percentage of the Revolving Line;

 (c) the representations and warranties in Section 5 shall be true in all material respects on the date of the
Payment/Advance Form and the Transaction Report and on the Funding Date of each Credit Extension; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified
by materiality in the text thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date, and no Default or Event of
Default shall have occurred and be continuing or result from the Credit Extension. Each Credit Extension is each Borrower’s representation and warranty on that date that the representations and warranties in Section 5 remain true in
all material respects; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof; and provided, further that those
representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date; 
  

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 (d) receipt of and approval by Lenders of two updated Perfection Certificate(s) executed by
Parent (one for each Lender), which shall include any additional information that shall be necessary to make such Perfection Certificates complete and correct in all material respects as of the date of such Credit Extension; provided that such
approval will not be unreasonably withheld due to immaterial changes from the prior Perfection Certificate(s) provided to Lenders; and 

(e) in Lenders’ reasonable discretion, there has not been a Material Adverse Change. 

3.3 Covenant to Deliver. 

Each Borrower agrees to deliver to Lenders each item required to be delivered to any Lender under this Agreement as a condition to any
Credit Extension. Each Borrower expressly agrees that the extension of a Credit Extension prior to the receipt by Lenders of any such item shall not constitute a waiver by Lenders of such Borrower’s obligation to deliver such item, and any such
extension in the absence of a required item shall be in Lenders’ sole discretion. 
 3.4 Procedures for Borrowing.
Subject to the prior satisfaction of all other applicable conditions to the making of a Revolving Advance set forth in this Agreement, to obtain a Revolving Advance, Alphatec shall notify Collateral Agent by electronic mail, facsimile, or telephone
by 12:00 p.m. Pacific time on the Funding Date of the Revolving Advance. Together with such notification, Alphatec must promptly deliver to Collateral Agent by electronic mail or facsimile a completed Transaction Report executed by a Responsible
Officer or his or her designee. Collateral Agent, on behalf of Lenders, shall credit Revolving Advances to the Designated Deposit Account, and such Revolving Advances shall be deemed to be Revolving Advances by each of the Lenders in the amount of
their respective Revolving Commitment Percentages. The Lenders shall reimburse Collateral Agent for Revolving Advances made by Collateral Agent. (The Lenders and Collateral Agent, as among themselves, agree that such reimbursement shall occur by the
second Business Day of each week; the Borrower is not a party to or beneficiary of this agreement and it may be amended without the Borrower’s consent.) Lenders may make Revolving Advances under this Agreement based on instructions from a
Responsible Officer or his or her designee or without instructions if the Revolving Advances are necessary to meet Obligations which have become due. Each Lender may rely on any telephone notice given by a person whom such Lender reasonably believes
is a Responsible Officer or designee. Borrowers shall indemnify each Lender for any loss Lender suffers due to such reliance. 

4 CREATION OF SECURITY INTEREST 

4.1 Grant of Security Interest. Each Borrower hereby grants to the Collateral Agent, for the benefit of Lenders, to secure the
payment and performance in full of all of the Obligations, a continuing security interest in, and pledges to the Collateral Agent, for the benefit of Lenders, the Collateral, wherever located, whether now owned or hereafter acquired or arising, and
all proceeds and products thereof. Each Borrower represents, warrants, and covenants that the security interest granted herein is and shall at all times continue to be a first priority perfected security interest in the Collateral (subject only to
Permitted Liens that may have superior priority under this Agreement). If a Borrower shall acquire a commercial tort claim (as defined in the Code), such Borrower shall promptly notify Collateral Agent in a writing signed by such Borrower of the
general details thereof (and further details as may be required by Collateral Agent) and grant to Collateral Agent, for the benefit of Lenders, in such writing a security interest therein and in the proceeds thereof, all upon the terms of this
Agreement, with such writing to be in form and substance reasonably satisfactory to Collateral Agent. 
 If this Agreement is
terminated, Collateral Agent’s Lien in the Collateral shall continue until the Obligations (other than inchoate indemnity obligations) are repaid in full in cash. Upon payment in full in cash of the Obligations and at such time as the
Lenders’ obligation to make Credit Extensions has terminated, Collateral Agent shall, at Borrowers’ sole cost and expense, promptly release its Liens in the Collateral and all rights therein shall revert to Borrowers. 

4.2 Authorization to File Financing Statements. Each Borrower hereby authorizes Collateral Agent to file financing statements,
without notice to either Borrower, with all appropriate jurisdictions to perfect or protect Collateral Agents and/or Lenders’ interest or rights hereunder, including a notice that any disposition of the Collateral, by either a Borrower or any
other Person, shall be deemed to violate the rights of Collateral Agent and Lenders under the Code. 
  

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 4.3 Pledge of Collateral. Each Borrower hereby pledges, assigns and grants to the
Collateral Agent, for the ratable benefit of Lenders, a security interest in all the Shares, together with all proceeds and substitutions thereof, all cash, stock and other moneys and property paid thereon, all rights to subscribe for securities
declared or granted in connection therewith, and all other cash and noncash proceeds of the foregoing, as security for the performance of the Obligations. On the Effective Date, the certificate or certificates for the Shares will be delivered to the
Collateral Agent, accompanied by an instrument of assignment duly executed in blank by the applicable Borrower. To the extent required by the terms and conditions governing the Shares, the applicable Borrower shall cause the books of each entity
whose Shares are part of the Collateral and any transfer agent to reflect the pledge of the Shares. Upon the occurrence of an Event of Default hereunder, Collateral Agent may effect the transfer of any securities included in the Collateral
(including but not limited to the Shares) into the name of the Lenders and cause new certificates representing such securities to be issued in the name of the Lenders or their transferee. Each Borrower will execute and deliver such documents, and
take or cause to be taken such actions, as the Collateral Agent or Lenders may reasonably request to perfect or continue the perfection of the Collateral Agent’s security interest in the Shares. Unless an Event of Default shall have occurred
and be continuing, Borrowers shall be entitled to exercise any voting rights with respect to the Shares and to give consents, waivers and ratifications in respect thereof, provided that no vote shall be cast or consent, waiver or ratification given
or action taken which would be inconsistent with any of the terms of this Agreement or which would constitute or create any violation of any of such terms. All such rights to vote and give consents, waivers and ratifications shall terminate upon the
occurrence and continuance of an Event of Default. 
 4.4 Parallel Debt. 

(a) For the purpose of ensuring and preserving the validity and continuity of the security rights granted and to be granted by the
Borrowers under or pursuant to the Loan Documents the Borrowers hereby irrevocably and unconditionally undertake, as an abstract obligation (abstraktes Schuldversprechen), to pay to the Collateral Agent amounts equal to and in the currency of
the Obligations from time to time due in accordance with the terms and conditions of the Loan Documents and irrespective of any discharge of an obligor’s obligation to pay such amounts resulting from a failure by Collateral Agent or any Lender
to take appropriate steps in insolvency, bankruptcy or similar proceedings affecting an obligor to preserve its respective right to be paid those amounts (such payment undertaking and the obligations and liabilities which are the result thereof the
“Parallel Debt”). 
 (b) The Borrowers and the Collateral Agent acknowledge that: 

(i) for this purpose the Parallel Debt constitutes undertakings, obligations and liabilities of the Borrowers to the Collateral
Agent and the Lenders under the Loan Documents which are separate and independent from and without prejudice to, the corresponding Obligations which the Borrowers have to each of the Collateral Agent and the Lender; and 

(ii) that the Parallel Debt represents the Collateral Agent’s and the Lenders’ own claims to receive payment of the
Parallel Debt, provided that the total amount which may become due under the Parallel Debt shall never exceed the total amount which may otherwise become due as Obligations. 

(c) Every payment of monies made by the Borrowers to the Collateral Agent or any Lender shall be in satisfaction pro tanto of the
Parallel Debt, provided that if any such payment as is mentioned above is subsequently avoided or reduced by virtue of any provisions or enactments relating to bankruptcy, liquidation or similar laws of general application the Collateral Agent, for
the ratable benefit of the Lenders, shall be entitled to receive the avoided or reduced amount of such payment from the Borrowers and the Borrowers shall remain liable to perform the relevant obligation and the relevant liability shall be deemed not
to have been discharged. 
  

 9 

 (d) Subject to the provision of this sub-clause (d), but notwithstanding any of the other
provisions of this Section 4.4: 
 (i) the total amount due and payable as Parallel Debt under this
Section 4.4 shall be decreased to the extent that an obligor pays any amounts to the Collateral Agent or any Lender or any of them as a payment for the Obligations or the Collateral Agent or any Lender otherwise receives any amount in payment
of (a part of) the Obligations; and 
 (ii) to the extent that any obligor shall have paid any amounts to the Collateral
Agent or any Lender under the Parallel Debt or the Collateral Agent or any Lender shall have otherwise received monies in payment of the Parallel Debt, the total amount due and payable by any obligor on account of the Obligations shall be decreased
as if said amounts were received directly in payment of the Obligations. 
 Notwithstanding Section 11 of this Agreement with respect to
choice of law, this Section 4.4 shall be governed by German law. 
 5 REPRESENTATIONS AND WARRANTIES

 Each Borrower represents and warrants as follows: 

5.1 Due Organization and Authorization. Borrower and each of its Subsidiaries, if any, are duly existing and in good standing, as
Registered Organizations in their respective jurisdictions of formation and are qualified and licensed to do business and are in good standing in any jurisdiction in which the conduct of their business or their ownership of property requires that
they be qualified except where the failure to do so could not reasonably be expected to have a material adverse effect on Borrower’s business. In connection with this Agreement, Parent has delivered to Collateral Agent a completed perfection
certificate signed by Parent (as may be updated from time to time in accordance with Section 3.2(d), the “Perfection Certificate”). Borrower represents and warrants that (a) Borrower’s exact legal name is that
indicated on the Perfection Certificate and on the signature page hereof; (b) Borrower is an organization of the type and is organized in the jurisdiction set forth in the Perfection Certificate; (c) the Perfection Certificate accurately
sets forth Borrower’s organizational identification number or accurately states that Borrower has none; (d) the Perfection Certificate accurately sets forth Borrower’s place of business, or, if more than one, its chief executive
office as well as Borrower’s mailing address (if different than its chief executive office); (e) Borrower (and each of its predecessors) has not, in the past five (5) years, changed its jurisdiction of formation, organizational
structure or type, or any organizational number assigned by its jurisdiction; and (f) all other information set forth on the Perfection Certificate pertaining to Borrower and each of its Subsidiaries is accurate and complete. If Borrower is not
now a Registered Organization but later becomes one, Borrower shall promptly notify Collateral Agent of such occurrence and provide Collateral Agent with Borrower’s organizational identification number. 

The execution, delivery and performance by Borrower of the Loan Documents to which it is a party have been duly authorized, and do not
(i) conflict with any of Borrower’s Operating Documents, (ii) contravene, conflict with, constitute a default under or violate any material Requirement of Law, (iii) contravene, conflict or violate any applicable order, writ,
judgment, injunction, decree, determination or award of any Governmental Authority by which Borrower or any of its Subsidiaries or any of their property or assets may be bound or affected, (iv) require any action by, filing, registration, or
qualification with, or Governmental Approval from, any Governmental Authority (except such Governmental Approvals which have already been obtained and are in full force and effect and except for filings with the Securities Exchange Commission or
NASDAQ, which shall be made following closing) or are being obtained pursuant to Section 6.1(b), or (v) constitute an event of default under any material agreement by which Borrower is bound. Borrower is not in default under any agreement
to which it is a party or by which it is bound in which the default could have a material adverse effect on Borrower’s business. 

5.2 Collateral. Borrower has good title to, has rights in, and the power to transfer each item of the Collateral upon which it
purports to grant a Lien hereunder, free and clear of any and all Liens except Permitted Liens. Borrower has no deposit accounts other than the deposit accounts with Bank, the deposit accounts, if any, described in the Perfection Certificate
delivered to Collateral Agent in connection herewith, or of which Borrower has given Lenders notice and taken such actions as are necessary to give Collateral Agent a perfected security interest therein. 

 

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 Other than with respect to Consigned Collateral, none of the Collateral is in the possession
of any third party bailee. None of the components of the Collateral (other than the Consigned Collateral) shall be maintained at locations other than as provided in the Perfection Certificate or as Borrower has given Lenders notice pursuant to
Section 7.2. In the event that Borrower, after the date hereof, intends to store or otherwise deliver any portion of the Collateral (other than the Consigned Collateral) to a bailee, then Borrower will first receive the written consent
of Lenders, such consent not to be unreasonably withheld, and such bailee must execute and deliver a bailee agreement in form and substance satisfactory to Collateral Agent in its sole discretion. 

For each Account with respect to which Revolving Advances are requested, on the date each Revolving Advance is requested and made, such
Account shall be an Eligible Account. 
 All statements made and all unpaid balances appearing in all invoices, instruments and
other documents evidencing the Eligible Accounts are and shall be true and correct and all such invoices, instruments and other documents, and all of each Borrower’s Books are genuine and in all respects what they purport to be. Whether or not
an Event of Default has occurred and is continuing, Bank may notify any Account Debtor owing a Borrower money of Bank’s security interest in such funds and verify the amount of such Eligible Account. All sales and other transactions underlying
or giving rise to each Eligible Account shall comply in all material respects with all applicable laws and governmental rules and regulations. No Borrower has any actual knowledge of any actual or imminent Insolvency Proceeding of any Account Debtor
whose accounts are Eligible Accounts in any Transaction Report. To the best of each Borrower’s knowledge, all signatures and endorsements on all documents, instruments, and agreements relating to all Eligible Accounts are genuine, and all such
documents, instruments and agreements are legally enforceable in accordance with their terms. 
 All Inventory is in all
material respects of good and marketable quality, free from material defects. For any item of Inventory consisting of Eligible Inventory in any Transaction Report, such Inventory (i) consists of finished goods, in good, new, and salable
condition, which is not perishable, returned, consigned, obsolete, not sellable, damaged, or defective, and is not comprised of demonstrative or custom inventory, works in progress, packaging or shipping materials, or supplies; (ii) meets all
applicable governmental standards; (iii) has been manufactured in compliance with the Fair Labor Standards Act; (iv) is not subject to any Liens, except the first priority Liens granted or in favor of Bank under this Agreement or any of
the other Loan Documents; and (v) is located at the locations identified by Borrower in the Perfection Certificate where it maintains Inventory (or any location permitted under Section 7.2). 

Borrower is the sole owner of its intellectual property, except for non-exclusive licenses granted to its customers in the ordinary
course of business. Except as set forth in the Perfection Certificate, to the best of Borrower’s knowledge each patent is valid and enforceable, and no part of the intellectual property has been judged invalid or unenforceable, in whole or in
part, and to the best of Borrower’s knowledge, no claim has been made that any part of the intellectual property violates the rights of any third party except to the extent such claim could not reasonably be expected to have a material adverse
effect on Borrower’s business. Except as noted on the Perfection Certificate, Borrower is not a party to, nor is bound by, any material license or other agreement with respect to which Borrower is the licensee (a) that prohibits or
otherwise restricts Borrower from granting a security interest in Borrower’s interest in such license or agreement or any other property, or (b) for which a default under or termination of could interfere with Collateral Agent’s right
to sell any Collateral. Borrower shall provide written notice to Collateral Agent within ten (10) days of entering or becoming bound by any such license or agreement (other than over-the-counter software that is commercially available to the
public). Borrower shall take such steps as Collateral Agent reasonably requests to obtain the consent of, or waiver by, any person whose consent or waiver is necessary for (x) all such licenses or agreements to be deemed “Collateral”
and for Bank to have a security interest in it that might otherwise be restricted or prohibited by law or by the terms of any such license or agreement, whether now existing or entered into in the future, and (y) Collateral Agent to have the
ability in the event of a liquidation of any Collateral to dispose of such Collateral in accordance with Collateral Agent’s rights and remedies under this Agreement and the other Loan Documents. 

5.3 Litigation. Other than as set forth in the Perfection Certificate, there are no actions or proceedings pending or, to the
knowledge of the Responsible Officers, threatened in writing by or against Borrower or any of its Subsidiaries involving more than Five Hundred Thousand Dollars ($500,000). 

 

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 5.4 No Material Deviation in Financial Statements. All consolidated financial
statements for Borrower and any of its Subsidiaries delivered to Lenders fairly present in all material respects Borrower’s consolidated financial condition and Borrower’s consolidated results of operations. There has not been any material
deterioration in Borrower’s consolidated financial condition since the date of the most recent financial statements submitted to Lenders. 

5.5 Solvency. The fair salable value of Borrower’s assets (including goodwill minus disposition costs) exceeds the fair value
of its liabilities; Borrower is not left with unreasonably small capital after the transactions in this Agreement; and Borrower is able to pay its debts (including trade debts) as they mature. 

5.6 Regulatory Compliance. Borrower is not an “investment company” or a company “controlled” by an
“investment company” under the Investment Company Act of 1940, as amended. Borrower is not engaged as one of its important activities in extending credit for margin stock (under Regulations T and U of the Federal Reserve Board of
Governors). Borrower has complied in all material respects with the Federal Fair Labor Standards Act. Neither Borrower nor any of its Subsidiaries is a “holding company” or an “affiliate” of a “holding company” or a
“subsidiary company” of a “holding company” as each term is defined and used in the Public Utility Holding Company Act of 2005. Borrower has not violated any laws, ordinances or rules, the violation of which could reasonably be
expected to have a material adverse effect on its business. None of Borrower’s or any of its Subsidiaries’ properties or assets has been used by Borrower or any Subsidiary or, to the best of Borrower’s knowledge, by previous Persons,
in disposing, producing, storing, treating, or transporting any hazardous substance other than legally. Borrower and each of its Subsidiaries have (i) obtained all consents, approvals and authorizations of, (ii) made all declarations or
filings with, and (iii) given all notices to, all Government Authorities that, in the case of each of (i), (ii) and (iii) above, are necessary to continue their respective businesses as currently conducted. 

5.7 Subsidiaries; Investments. Borrower does not own any stock, partnership interest or other equity securities except for
Permitted Investments. 
 5.8 Tax Returns and Payments; Pension Contributions. Borrower has timely filed all required tax
returns and reports, and Borrower and its Subsidiaries have timely paid all foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower. Borrower may defer payment of any contested taxes, provided that Borrower
(a) in good faith contests its obligation to pay the taxes by appropriate proceedings promptly and diligently instituted and conducted, (b) notifies Lenders in writing of the commencement of, and any material development in, the
proceedings, (c) posts bonds or takes any other steps required to prevent the governmental authority levying such contested taxes from obtaining a Lien upon any of the Collateral that is other than a “Permitted Lien”. Borrower is
unaware of any claims or adjustments proposed for any of Borrower’s prior tax years which could result in additional taxes becoming due and payable by Borrower. Borrower has paid all amounts necessary to fund all present pension, profit sharing
and deferred compensation plans in accordance with their terms, and Borrower has not withdrawn from participation in, and has not permitted partial or complete termination of, or permitted the occurrence of any other event with respect to, any such
plan which could reasonably be expected to result in any liability of Borrower, including any liability to the Pension Benefit Guaranty Corporation or its successors or any other governmental agency. 

5.9 Use of Proceeds. Borrower shall use the proceeds of the Credit Extensions solely as working capital, for strategic
acquisitions, licenses and to fund its general business requirements and not for personal, family, household or agricultural purposes. 

5.10 Full Disclosure. No written representation, warranty or other statement of Borrower in any certificate or written statement
given to Collateral Agent or any Lender, as of the date such representation, warranty, or other statement was made, taken together with all such written certificates and written statements given to Collateral Agent or any Lender, contains any untrue
statement of a material fact or omits to state a material fact necessary to make the statements contained in the certificates or statements not misleading (it being recognized that the projections and forecasts provided by Borrower in good faith and
based upon reasonable assumptions are not viewed as facts and that actual results during the period or periods covered by such projections and forecasts may differ from the projected or forecasted results). 

 

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 6 AFFIRMATIVE COVENANTS 

Each Borrower shall do all of the following: 

6.1 Government Compliance. 

(a) Maintain its and all its Subsidiaries’ legal existence and good standing in their respective jurisdictions of formation and
maintain qualification in each jurisdiction in which the failure to so qualify would reasonably be expected to have a material adverse effect on Borrower’s business or operations. Borrower shall comply, and have each Subsidiary comply, with all
laws, ordinances and regulations to which it is subject, noncompliance with which could have a material adverse effect on Borrower’s business. 

(b) Obtain all of the Governmental Approvals necessary for the performance by Borrower of its obligations under the Loan Documents to
which it is a party and the grant of a security interest to Collateral Agent for the ratable benefit of the Lenders, in all of its property. Borrower shall promptly provide copies of any such obtained Governmental Approvals to Collateral Agent.

 6.2 Financial Statements, Reports, Certificates. 

(a) Alphatec shall provide each Lender with the following: 

(i) within twenty (20) days after the end of each month, (A) a Transaction Report (and any schedules related thereto)
(if there are no loan balances outstanding under the Revolving Line for the preceding calendar month), (B) monthly accounts receivable agings, aged by invoice date, (C) monthly accounts payable agings, aged by invoice date, and outstanding
or held check registers, if any, (D) monthly reconciliations of accounts receivable agings (aged by invoice date), transaction reports and general ledger, (E) monthly perpetual inventory reports for Inventory valued on a first-in,
first-out basis at the lower of cost or market (in accordance with GAAP) or such other inventory reports as are requested by Lenders in their good faith business judgment; (F) a deferred revenue schedule; and (G) a report of the location,
holders and value of all Consigned Collateral. 
 (ii) as soon as available, and in any event within thirty
(30) days after the end of each month, monthly unaudited financial statements of Alphatec; 
 (iii) within thirty
(30) days after the end of each quarter a quarterly Compliance Certificate signed by a Responsible Officer, certifying that as of the end of such quarter, Borrowers were in full compliance with all of the terms and conditions of this Agreement,
and such other information as Lenders shall reasonably request, including, without limitation, a statement that at the end of such month there were no held checks, and a calculation of the financial covenants set forth in Section 6.8 below;

 (iv) the more frequent of weekly, by Monday of the following week, or with each request for a Revolving Advance when
there are loan balances outstanding under the Revolving Line for the preceding calendar month, a Transaction Report (and any schedules related thereto); 

(v) within sixty (60) days after the beginning of each fiscal year of Borrowers, (A) annual operating budgets
(including income statements, balance sheets and cash flow statements, by month) for such fiscal year of Borrowers, and (B) annual financial projections for such fiscal year (on a quarterly basis), together with any related business forecasts
used in the preparation of such annual financial projections; in each case, as approved by each Borrower’s board of directors and provided to Borrowers’ equity investors; 

(vi) as soon as available, and in any event within one hundred eighty (180) days following the end of Alphatec’s fiscal
year, annual financial statements certified by, and with an unqualified opinion of, independent certified public accountants acceptable to Lenders; and 
  

 13 

 (vii) a prompt report of any legal actions pending or threatened in writing against
a Borrower or any Subsidiary that could result in damages or costs to a Borrower or any Subsidiary of Five Hundred Thousand Dollars ($500,000) or more. 

(b) Parent shall provide each Lender with, as soon as available, but no later than five (5) days after filing with the Securities
Exchange Commission, Parent’s 10K, 10Q, and 8K reports; 
 Parent’s 10K, 10Q, and 8K reports required to be delivered
pursuant hereto shall be deemed to have been delivered on the date on which Parent posts such report or provides a link thereto on Parent’s or another website (including www.sec.gov) on the Internet. 

6.3 Accounts Receivable. 

(a) Schedules and Documents Relating to Accounts. Alphatec shall deliver to each Lender transaction reports and schedules
of collections, as provided in Section 6.2, on Bank’s standard forms; provided, however, that Alphatec’s failure to execute and deliver the same shall not affect or limit Lenders’ Lien and other rights in all of
Borrowers’ Accounts, nor shall any Lender’s failure to advance or lend against a specific Account affect or limit such Lender’s Lien and other rights therein. If requested by a Lender, each Borrower shall furnish each Lender with
copies (or, at a Lender’s request, originals) of all contracts, orders, invoices, and other similar documents, and all shipping instructions, delivery receipts, bills of lading, and other evidence of delivery, for any goods the sale or
disposition of which gave rise to such Accounts. In addition, each Borrower shall deliver to Lenders, on any Lender’s request, the originals of all instruments, chattel paper, security agreements, guarantees and other documents and property
evidencing or securing any Accounts, in the same form as received, with all necessary indorsements, and copies of all credit memos. 

(b) Disputes. Each Borrower shall promptly notify Lenders of all disputes or claims exceeding Seventy Five Thousand Dollars
($75,000) relating to Accounts. Each Borrower may forgive (completely or partially), compromise, or settle any Account for less than payment in full, or agree to do any of the foregoing so long as (i) such Borrower does so in good faith, in a
commercially reasonable manner, in the ordinary course of business, in arm’s-length transactions, and reports the same to Lenders in the regular reports provided to Lenders; (ii) no Default or Event of Default has occurred and is
continuing; and (iii) after taking into account all such discounts, settlements and forgiveness, the total outstanding Advances will not exceed the lesser of the Revolving Line or the Borrowing Base. 

(c) Collection of Accounts. Each Borrower shall have the right to collect all Accounts, unless and until a Default or an Event of
Default has occurred and is continuing. Lenders shall require that all proceeds of Accounts be deposited by Borrowers into the Lockbox. Whether or not an Event of Default has occurred and is continuing, each Borrower shall hold all payments on, and
proceeds of, Accounts in trust for Lenders, and each Borrower shall immediately deliver all such payments and proceeds to Collateral Agent, for the ratable benefit of the Lenders according to their respective Revolving Line Commitment Percentages,
in their original form, duly endorsed, to be applied (i) prior to an Event of Default, pursuant to the terms of Section 2.4(f) hereof, and (ii) after the occurrence and during the continuance of an Event of Default, pursuant to
the terms of Section 9.4 hereof. 
 (d) Returns. Provided no Event of Default has occurred and is
continuing, if any Account Debtor returns any Inventory to a Borrower, such Borrower shall promptly (i) determine the reason for such return, (ii) issue a credit memorandum to the Account Debtor in the appropriate amount, and
(iii) provide a copy of such credit memorandum to Bank, for the benefit of the Lenders, upon request from any Lender. In the event any attempted return occurs after the occurrence and during the continuance of any Event of Default, such
Borrower shall hold the returned Inventory in trust for Lenders, and immediately notify Lenders of the return of the Inventory. 

(e) Verification. Lenders may, from time to time, verify directly with the respective Account Debtors the validity, amount
and other matters relating to the Accounts, either in the name of a Borrower or any Lender or such other name as Lenders may choose. 
  

 14 

 (f) No Liability. Lenders shall not be responsible or liable for any shortage
or discrepancy in, damage to, or loss or destruction of, any goods, the sale or other disposition of which gives rise to an Account, or for any error, act, omission, or delay of any kind occurring in the settlement, failure to settle, collection or
failure to collect any Account, or for settling any Account in good faith for less than the full amount thereof, nor shall any Lender be deemed to be responsible for any of Borrowers’ obligations under any contract or agreement giving rise to
an Account. Nothing herein shall, however, relieve Lenders from liability for its own gross negligence or willful misconduct. 

6.4 Remittance of Proceeds. Except as otherwise provided in Section 6.3(c), deliver, in kind, all proceeds arising
from the disposition of any Collateral to Bank, for the ratable benefit of the Lenders, in the original form in which received by a Borrower not later than the following Business Day after receipt by a Borrower, to be applied to the Obligations
pursuant to the terms of Section 9.4 hereof; provided that, if no Default or Event of Default has occurred and is continuing, Borrowers shall not be obligated to remit to Bank the proceeds of the sale of worn out or obsolete Equipment
disposed of by a Borrower in good faith in an arm’s length transaction for an aggregate purchase price of One Hundred Thousand Dollars ($100,000) or less (for all such transactions in any fiscal year). Nothing in this Section limits the
restrictions on disposition of Collateral set forth elsewhere in this Agreement. 
 6.5 Taxes; Pensions. Timely file, and
require each of its Subsidiaries to timely file, all required tax returns and reports and timely pay, and require each of its Subsidiaries to timely file, all foreign, federal, state and local taxes, assessments, deposits and contributions owed by a
Borrower and each of its Subsidiaries, except for deferred payment of any taxes contested pursuant to the terms of Section 5.8 hereof, and shall deliver to Lenders, on demand, appropriate certificates attesting to such payments, and pay
all amounts necessary to fund all present pension, profit sharing and deferred compensation plans in accordance with their terms. 

6.6 Access to Collateral; Books and Records. At reasonable times, but not more than two (2) times per year (unless a Default
or Event of Default has occurred and is continuing) on one (1) Business Day’s notice (provided no notice is required if an Event of Default has occurred and is continuing), each Lender, or its agents, shall have the right to inspect the
Collateral and the right to audit and copy each Borrower’s Books. The foregoing inspections and audits shall be at Borrowers’ expense, and the charge therefor shall be Seven Hundred Fifty Dollars ($750) per person per day (or such higher
amount as shall represent such Lender’s then-current standard charge for the same), plus reasonable out-of-pocket expenses. In the event a Borrower and any Lender schedule an audit more than ten (10) days in advance, and such Borrower
cancels or seeks to reschedule the audit with less than ten (10) days written notice to Lenders, then (without limiting any of each Lender’s rights or remedies), such Borrower shall pay such Lender a fee of One Thousand Dollars ($1,000)
plus any out-of-pocket expenses incurred by such Lender to compensate such Lender for the anticipated costs and expenses of the cancellation or rescheduling. 

6.7 Insurance. Keep its business and the Collateral insured for risks and in amounts standard for companies in Borrowers’
industry and location and as Lenders may reasonably request. Insurance policies shall be in a form, with companies, and in amounts that are reasonably satisfactory to Lenders. All property policies shall have a lender’s loss payable endorsement
showing Collateral Agent as an additional lender loss payee and waive subrogation against Lenders, and all liability policies shall show, or have endorsements showing, Collateral Agent as an additional insured. Alphatec will make commercially
reasonable efforts to ensure that all policies (or the loss payable and additional insured endorsements) shall provide that the insurer must give Collateral Agent at least thirty (30) days notice before canceling, amending, or declining to
renew its policy. At Collateral Agent’s and any Lenders’ request, Borrowers shall deliver certified copies of policies and evidence of all premium payments. Proceeds payable under any policy shall, at Lenders’ option, be payable to
Lenders on account of the Obligations. Notwithstanding the foregoing, (a) so long as no Event of Default has occurred and is continuing, Borrowers shall have the option of applying the proceeds of any casualty policy up to Five Hundred Thousand
Dollars ($500,000) with respect to any loss toward the replacement or repair of destroyed or damaged property; provided that any such replaced or repaired property (i) shall be of equal or like value as the replaced or repaired Collateral and
(ii) shall be deemed Collateral in which Collateral Agent has been granted a first priority security interest, and (b) after the occurrence and during the continuance of an Event of Default, all proceeds payable under such casualty policy
shall, at the option of Lenders, be payable to Lenders on account of the Obligations. If a Borrower fails to obtain insurance as required under this Section 6.7 or to pay any amount or furnish any required proof of payment to third
persons and Collateral Agent, Collateral Agent may make all or part of such payment or obtain such insurance policies required in this Section 6.7, and take any action under the policies Collateral Agent reasonably deems prudent.

  

 15 

 6.8 Operating Accounts. 

(a) Maintain its primary depository, operating and securities accounts with Bank or Bank’s Affiliates, which accounts shall
represent at least eighty five percent (85%) of the dollar value of each Borrower’s and each Borrower’s Subsidiaries’ accounts at all financial institutions; provided that Borrowers shall at all times maintain cash and cash
equivalents with Bank and/or Bank’s Affiliates of at least Ten Million Dollars ($10,000,000). Notwithstanding the foregoing, from the Effective Date through 5:00 p.m. California time, April 2, 2010, Borrowers may comply with the preceding
proviso by including accounts of Scient’x USA, Inc., Scient’x Groupe, S.A.S. and Scient’x, S.A., provided the same are maintained with Bank and/or Bank’s Affiliates, and/or subject to Control Agreements in favor of (and in form
and content reasonably acceptable to) Bank and/or Oxford. 
 (b) Provide Collateral Agent five (5) days prior written
notice before establishing any Collateral Account at or with any bank or financial institution other than Bank or Bank’s Affiliates. In addition, for each Collateral Account that a Borrower or any Domestic Subsidiary at any time maintains, such
Borrower shall cause the applicable bank or financial institution (other than Bank) at or with which any Collateral Account is maintained to execute and deliver a Control Agreement or other appropriate instrument with respect to such Collateral
Account to perfect Collateral Agent’s Lien in such Collateral Account in accordance with the terms hereunder, which Control Agreement may not be terminated without prior written consent of the Lenders. The provisions of the previous sentence
shall not apply to deposit accounts exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of a Borrower’s employees and identified to Collateral Agent by Borrowers as such. 

6.9 Fixed Charge Coverage Ratio. Borrowers shall maintain, at all times, to be tested, as of the last day of each quarter,
on a consolidated basis with respect to Borrowers and their Subsidiaries, a Fixed Charge Coverage Ratio of at least (i) 1.25 to 1.00 for the quarter ending June 30, 2010; and (ii) 1.50 to 1.00 for each quarter thereafter. 

6.10 Protection of Intellectual Property Rights. Each Borrower shall: (a) protect, defend and maintain the validity and
enforceability of its intellectual property; (b) promptly advise Lenders in writing of material infringements of its material intellectual property; and (c) not allow any intellectual property material to such Borrower’s business to
be abandoned, forfeited or dedicated to the public without Lenders’ written consent. Notwithstanding the foregoing, in no event shall any Borrower be obligated to bring any action against any Person for infringement of such Borrower’s
intellectual property if, such intellectual property is not material to Borrower’s business, or in the good faith business judgment of such Borrower’s board of directors, such an action would be impractical or imprudent. 

6.11 Litigation Cooperation. From the date hereof and continuing through the termination of this Agreement, make available to
Collateral Agent upon reasonable terms, without expense to Collateral Agent, each Borrower and its officers, employees and agents and each Borrower’s books and records, to the extent that Collateral Agent may deem them reasonably necessary to
prosecute or defend any third-party suit or proceeding instituted by or against Collateral Agent with respect to any Collateral or relating to a Borrower. 

6.12 Notices of Litigation and Default. Each Borrower will give prompt written notice to Collateral Agent of any litigation or
governmental proceedings pending or threatened (in writing) against such Borrower which would reasonably be expected to have a material adverse effect with respect to such Borrower. Without limiting or contradicting any other more specific provision
of this Agreement, promptly (and in any event within three (3) Business Days) upon a Borrower becoming aware of the existence of any Event of Default or event which, with the giving of notice or passage of time, or both, would constitute an
Event of Default, such Borrower shall give written notice to Collateral Agent of such occurrence, which such notice shall include a reasonably detailed description of such Event of Default or event which, with the giving of notice or passage of
time, or both, would constitute an Event of Default. 
  

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 6.13 Creation/Acquisition of Subsidiaries. In the event a Borrower or a Subsidiary
creates or acquires any Subsidiary, such Borrower or Subsidiary shall promptly notify Lenders of the creation or acquisition of such new Subsidiary and take all such action as may be reasonably required by Lenders to cause each such domestic
Subsidiary to guarantee the Obligations of Borrowers under the Loan Documents and grant a continuing pledge and security interest in and to the assets of such Subsidiary (substantially as described on Exhibit A hereto); and the applicable Borrower
and/or Subsidiary shall grant and pledge to Lenders a perfected security interest in the Shares of each Subsidiary. 
 6.14
Further Assurances. Execute any further instruments and take further action as Collateral Agent reasonably requests to perfect or continue Lenders’ Lien in the Collateral or to effect the purposes of this Agreement. Deliver to Collateral
Agent, within ten (10) days after the same are sent or received, copies of all correspondence, reports, documents and other filings with any Governmental Authority regarding compliance with or maintenance of Governmental Approvals or
Requirements of Law or that could reasonably be expected to have a material effect on any of the Governmental Approvals or otherwise on the operations of a Borrower or any of its Subsidiaries. 

7 NEGATIVE COVENANTS 

Neither Borrower shall do any of the following without Collateral Agent’s prior written consent: 

7.1 Dispositions. Convey, sell, lease, transfer or otherwise dispose of (collectively, “Transfer”), or permit any of its
Subsidiaries to Transfer, all or any part of its business or property, except for Transfers (a) of Inventory in the ordinary course of business; (b) of worn-out or obsolete Equipment; (c) in connection with Permitted Liens and
Permitted Investments; (d) of non-exclusive licenses for the use of the property of Borrowers or their Subsidiaries in the ordinary course of business, and (e) non-exclusive licenses of Borrowers’ intellectual property in the ordinary
course of business to include licenses of product to partnerships in bona fide collaborations. 
 7.2 Changes in Business,
Management, Ownership, or Business Locations. (a) Engage in or permit any of its Subsidiaries to engage in any business other than the businesses currently engaged in by a Borrower and such Subsidiary, as applicable, or reasonably related
thereto; (b) liquidate or dissolve; or (c) enter into any transaction or series of related transactions in which the stockholders of a Borrower immediately prior to the first such transaction own less than sixty five percent (65%) of
the voting stock of such Borrower immediately after giving effect to such transaction or related series of such transactions (other than by the sale of a Borrower’s equity securities in a public offering or to venture capital investors so long
as such Borrower identifies to Lenders the venture capital investors prior to the closing of the transaction). Neither Borrower shall, without at least thirty (30) days prior written notice to Lenders: (1) add any new offices or business
locations, including warehouses (unless (x) such new offices, business locations or warehouses contain less than One Hundred Thousand Dollars ($100,000) in such Borrower’s assets or property, or (y) Borrower has delivered to
Collateral Agent a bailee agreement in form and substance satisfactory to Collateral Agent in its sole discretion with respect to such offices, business locations or warehouses), or (z) such warehouse consists of a drop-ship location that
Borrower is using in the ordinary course of its business to store only Consigned Collateral, (2) change its jurisdiction of organization, (3) change its organizational structure or type, (4) change its legal name, or (5) change
any organizational number (if any) assigned by its jurisdiction of organization. 
 7.3 Mergers or Acquisitions. Merge or
consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person. A Subsidiary may
merge or consolidate into another Subsidiary or into a Borrower. 
 7.4 Indebtedness. Create, incur, assume, or be liable
for any Indebtedness, or permit any Subsidiary to do so, other than Permitted Indebtedness. 
 7.5 Encumbrance. Create,
incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject
to the first priority security interest granted herein. Neither Borrower shall sell, transfer, assign, mortgage, pledge, lease, grant a security interest in, or encumber, or 

 

 17 

 
enter into any agreement, document, instrument or other arrangement (except with or in favor of Collateral Agent) with any Person which directly or indirectly prohibits or has the effect of
prohibiting a Borrower or any Subsidiary from selling, transferring, assigning, mortgaging, pledging, leasing, granting a security interest in or upon, or encumbering any of a Borrower’s or any Subsidiary’s intellectual property, except as
is otherwise permitted in Section 7.1 hereof and the definition of “Permitted Liens” herein. 
 7.6
Maintenance of Collateral Accounts. Maintain any Collateral Account except pursuant to the terms of Section 6.8(b) hereof. 

7.7 Distributions; Investments. (a) Directly or indirectly make any Investment other than Permitted Investments, or
permit any of its Subsidiaries to do so; or (b) pay any dividends or make any distribution or payment or redeem, retire or purchase any capital stock provided that (i) each Borrower may pay dividends solely in common stock; and
(ii) each Borrower may repurchase the stock of former employees or consultants pursuant to stock repurchase agreements so long as an Event of Default does not exist at the time of such repurchase and would not exist after giving effect to such
repurchase, provided such repurchase does not exceed in the aggregate of Two Hundred Fifty Thousand Dollars ($250,000) per fiscal year. 

7.8 Transactions with Affiliates. Except as disclosed in any filings under applicable securities laws, directly or indirectly
enter into or permit to exist any material transaction with any Affiliate of a Borrower, except for transactions that are in the ordinary course of a Borrower’s business, upon fair and reasonable terms that are no less favorable to such
Borrower than would be obtained in an arm’s length transaction with a non-affiliated Person. 
 7.9 Subordinated
Debt. (a) Make or permit any payment on any Subordinated Debt, except under the terms of the subordination, intercreditor, or other similar agreement to which such Subordinated Debt is subject, or (b) amend any provision in any
document relating to the Subordinated Debt which would increase the amount thereof or adversely affect the subordination thereof to Obligations owed to the Lenders. 

7.10 Compliance. Become an “investment company” or a company controlled by an “investment company”, under the
Investment Company Act of 1940 or undertake as one of its important activities extending credit to purchase or carry margin stock (as defined in Regulation U of the Board of Governors of the Federal Reserve System), or use the proceeds of any Credit
Extension for that purpose; fail to meet the minimum funding requirements of ERISA, permit a Reportable Event or Prohibited Transaction, as defined in ERISA, to occur; fail to comply with the Federal Fair Labor Standards Act or violate any other law
or regulation, if the violation could reasonably be expected to have a material adverse effect on a Borrower’s business, or permit any of its Subsidiaries to do so; withdraw or permit any Subsidiary to withdraw from participation in, permit
partial or complete termination of, or permit the occurrence of any other event with respect to, any present pension, profit sharing and deferred compensation plan which could reasonably be expected to result in any liability of a Borrower,
including any liability to the Pension Benefit Guaranty Corporation or its successors or any other governmental agency. 

7.11 Indebtedness Payments. (i) Prepay, redeem, purchase, defease or otherwise satisfy in any manner prior to the scheduled
repayment thereof any Indebtedness for borrowed money (other than amounts due under this Agreement or due any Lender) or lease obligations, (ii) amend, modify or otherwise change the terms of any Indebtedness for borrowed money or lease
obligations so as to accelerate the scheduled repayment thereof or (iii) repay any notes to officers, directors or shareholders. 

8 EVENTS OF DEFAULT 

Any one of the following shall constitute an event of default (an “Event of Default”) under this Agreement: 

8.1 Payment Default. A Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its due
date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable (which three (3) day grace period shall not apply to payments due on the Growth Capital Maturity Date or the Revolving
Line Maturity Date, as applicable). During the grace period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the grace period); 

 

 18 

 8.2 Covenant Default. 

(a) A Borrower fails or neglects to perform any obligation in Sections, 6.2, 6.5, 6.7, 6.8 or 6.9 or violates any covenant in
Section 7; or 
 (b) A Borrower fails or neglects to perform, keep, or observe any other term, provision,
condition, covenant or agreement contained in this Agreement or any Loan Documents, and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be
cured, has failed to cure the default within ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by such Borrower
be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then such Borrower shall have an additional period (which shall not in any case exceed thirty (30) days) to attempt to cure such
default, and within such reasonable time period the failure to cure the default shall not be deemed an Event of Default (but no Credit Extensions shall be made during such cure period). Grace periods provided under this Section shall not apply,
among other things, to financial covenants or any other covenants set forth in subsection (a) above; 
 8.3 Material
Adverse Change. A Material Adverse Change occurs; 
 8.4 Attachment. 

(a) (i) The service of process seeking to attach, by trustee or similar process, any funds of a Borrower or of any entity under control
of a Borrower (including a Subsidiary) on deposit with Bank or any Bank Affiliate, or (ii) a notice of lien, levy, or assessment is filed against any of a Borrower’s assets by any government agency, and the same under subclauses
(i) and (ii) hereof are not, within ten (10) days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Credit Extensions shall be made during any ten
(10) day cure period; and 
 (b) (i) any material portion of a Borrower’s assets is attached, seized, levied on, or
comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents a Borrower from conducting any part of its business; 

8.5 Insolvency. (a) a Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes
insolvent; (b) a Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against a Borrower and not dismissed or stayed within forty-five (45) days (but no Credit Extensions shall be made while of any of the
conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed); 
 8.6 Other
Agreements. There is a default in any agreement to which a Borrower or any Guarantor is a party with a third party or parties resulting in a right by such third party or parties, whether or not exercised, to accelerate the maturity of any
Indebtedness in an amount in excess of One Hundred Thousand Dollars ($100,000) or that could reasonably be expected to have a material adverse effect on a Borrower’s business; or, if there is an Event of Default under and as defined in the
Scient’x Loan Agreement. 
 8.7 Judgments. A final, nonappealable judgment or judgments for the payment of money in
an amount, individually or in the aggregate, of at least One Hundred Thousand Dollars ($100,000) (not covered by independent third-party insurance) shall be rendered against a Borrower and shall remain unsatisfied and unstayed for a period of ten
(10) days after the entry thereof (provided that no Credit Extensions will be made prior to the satisfaction or stay of such judgment); 

8.8 Misrepresentations. A Borrower or any Person acting for a Borrower makes any material representation, warranty, or other
statement now or later in this Agreement, any Loan Document or in any writing delivered to Collateral Agent and/or any Lender or to induce Collateral Agent and/or Lenders to enter this Agreement or any Loan Document, and such representation,
warranty, or other statement is incorrect in any material respect when made; 
  

 19 

 8.9 Subordinated Debt. A default or breach occurs under any agreement between a
Borrower and any creditor of a Borrower that signed a subordination, intercreditor, or other similar agreement with Lenders, or any creditor that has signed such an agreement with Lenders breaches any terms of such agreement; 

8.10 Guaranty. (a) Any guaranty of any Obligations terminates or ceases for any reason to be in full force and effect;
(b) any Guarantor does not perform any obligation or covenant under any guaranty of the Obligations; (c) any circumstance described in Sections 8.3, 8.4, 8.5, 8.7, or 8.8 occurs with respect to any Guarantor, or (d) the liquidation,
winding up, or termination of existence of any Guarantor; 
 8.11 Governmental Approvals. Any Governmental
Approval shall have been (a) revoked, rescinded, suspended, modified in an adverse manner or not renewed in the ordinary course for a full term or (b) subject to any decision by a Governmental Authority that designates a hearing with
respect to any applications for renewal of any of such Governmental Approval or that could result in the Governmental Authority taking any of the actions described in clause (a) above, and such decision or such revocation, rescission,
suspension, modification or non-renewal (i) has, or could reasonably be expected to have, a Material Adverse Change, or (ii) adversely affects the legal qualifications of a Borrower or any of its Subsidiaries to hold such Governmental
Approval in any applicable jurisdiction and such revocation, rescission, suspension, modification or non-renewal could reasonably be expected to affect the status of or legal qualifications of a Borrower or any of its Subsidiaries to hold any
Governmental Approval in any other jurisdiction. 
 9 RIGHTS AND REMEDIES 

9.1 Rights and Remedies. While an Event of Default occurs and continues Collateral Agent may, without notice or demand, do any or
all of the following: 
 (a) declare all Obligations immediately due and payable (but if an Event of Default described in
Section 8.5 occurs all Obligations are immediately due and payable without any action by Collateral Agent or Lenders); 

(b) stop advancing money or extending credit for either Borrower’s benefit under this Agreement or under any other agreement
between either Borrower and Collateral Agent and/or Lenders; 
 (c) demand that Borrowers (i) deposit cash with Bank in an
amount equal to the aggregate amount of any Letters of Credit remaining undrawn, as collateral security for the repayment of any future drawings under such Letters of Credit, and Borrowers shall forthwith deposit and pay such amounts, and
(ii) pay in advance all Letter of Credit fees scheduled to be paid or payable over the remaining term of any Letters of Credit; 

(d) terminate any FX Forward Contracts; 

(e) settle or adjust disputes and claims directly with Account Debtors for amounts on terms and in any order that Collateral Agent
considers advisable, notify any Person owing a Borrower money of Lenders’ security interest in such funds, and verify the amount of such account; 

(f) make any payments and do any acts it considers necessary or reasonable to protect the Collateral and/or its security interest in the
Collateral. Each Borrower shall assemble the Collateral if Collateral Agent requests and make it available as Collateral Agent designates. Collateral Agent may enter premises where the Collateral is located, take and maintain possession of any part
of the Collateral, and pay, purchase, contest, or compromise any Lien which appears to be prior or superior to its security interest and pay all expenses incurred. Each Borrower grants Collateral Agent a license to enter and occupy any of its
premises, without charge, to exercise any of Collateral Agent’s rights or remedies; 
 (g) apply to the Obligations any
(i) balances and deposits of Borrowers it holds, or (ii) any amount held by Collateral Agent or Lenders owing to or for the credit or the account of a Borrower; 
  

 20 

 (h) ship, reclaim, recover, store, finish, maintain, repair, prepare for sale, advertise
for sale, and sell the Collateral. Collateral Agent is hereby granted a non-exclusive, royalty-free license or other right to use, without charge, each Borrower’s labels, patents, copyrights, mask works, rights of use of any name, trade
secrets, trade names, trademarks, service marks, and advertising matter, or any similar property as it pertains to the Collateral, in completing production of, advertising for sale, and selling any Collateral and, in connection with Collateral
Agent’s exercise of its rights under this Section, each Borrower’s rights under all licenses and all franchise agreements inure to Collateral Agent for the benefit of the Lenders; 

(i) place a “hold” on any account maintained with Collateral Agent or Lenders and/or deliver a notice of exclusive control,
any entitlement order, or other directions or instructions pursuant to any Control Agreement or similar agreements providing control of any Collateral; 

(j) demand and receive possession of each Borrower’s Books; and 

(k) exercise all rights and remedies available to Collateral Agent under the Loan Documents or at law or equity, including all remedies
provided under the Code (including disposal of the Collateral pursuant to the terms thereof). 
 9.2 Power of Attorney.
Each Borrower hereby irrevocably appoints Collateral Agent as its lawful attorney-in-fact, exercisable only upon the occurrence and during the continuance of an Event of Default, to: (a) endorse Borrower’s name on any checks or other forms
of payment or security; (b) sign such Borrower’s name on any invoice or bill of lading for any Account or drafts against Account Debtors; (c) settle and adjust disputes and claims about the Accounts directly with Account Debtors, for
amounts and on terms Collateral Agent determines reasonable; (d) make, settle, and adjust all claims under such Borrower’s insurance policies; (e) pay, contest or settle any Lien, charge, encumbrance, security interest, and adverse
claim in or to the Collateral, or any judgment based thereon, or otherwise take any action to terminate or discharge the same; and (f) transfer the Collateral into the name of Collateral Agent or a third party as the Code permits. Each Borrower
hereby appoints Collateral Agent as its lawful attorney-in-fact to sign such Borrower’s name on any documents necessary to perfect or continue the perfection of Lenders’ security interest in the Collateral regardless of whether an Event of
Default has occurred until all Obligations (other than inchoate indemnity obligations) have been satisfied in full and Collateral Agent and Lenders are under no further obligation to make Credit Extensions hereunder. Collateral Agent’s
foregoing appointment as each Borrower’s attorney in fact, and all of Collateral Agent’s rights and powers, coupled with an interest, are irrevocable until all Obligations (other than inchoate indemnity obligations) have been fully repaid
and performed and Collateral Agent’s and Lenders’ obligation to provide Credit Extensions terminates. 
 9.3
Protective Payments. If a Borrower fails to obtain the insurance called for by Section 6.7 or fails to pay any premium thereon or fails to pay any other amount which a Borrower is obligated to pay under this Agreement or any other Loan
Document, Collateral Agent may obtain such insurance or make such payment, and all amounts so paid by Collateral Agent are Lenders’ Expenses and immediately due and payable, bearing interest at the then highest applicable rate, and secured by
the Collateral. Collateral Agent will make reasonable efforts to provide Borrowers with notice of Collateral Agent obtaining such insurance at the time it is obtained or within a reasonable time thereafter. No payments by Collateral Agent are deemed
an agreement to make similar payments in the future or Collateral Agent’s waiver of any Event of Default. 
 9.4
Application of Payments and Proceeds. Borrowers shall have no right to specify the order or the accounts to which Lenders shall allocate or apply any payments required to be made by a Borrower to any Lender or otherwise received by any Lender
under this Agreement when any such allocation or application is not specified elsewhere in this Agreement. If an Event of Default has occurred and is continuing, Lenders may apply any funds in their possession, whether from either Borrower’s
account balances, payments, proceeds realized as the result of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations in such order as Lenders shall determine in their sole discretion. Any surplus shall
be paid to Borrowers by credit to the Designated Deposit Account or to other Persons legally entitled thereto; Borrowers shall remain liable to Lenders for any deficiency. If any Lender, in its good faith business judgment, directly or indirectly
enters into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Lenders shall have the option, exercisable at any time, of either reducing the Obligations by the principal amount of the purchase price or
deferring the reduction of the Obligations until the actual receipt by Lenders of cash therefor. 
  

 21 

 9.5 Liability for Collateral. So long as the Collateral Agent and Lenders comply with
reasonable banking practices regarding the safekeeping of the Collateral in the possession or under the control of the Collateral Agent and Lenders, the Collateral Agent and Lenders shall not be liable or responsible for: (a) the safekeeping of
the Collateral; (b) any loss or damage to the Collateral; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Borrowers bear all risk of loss, damage or
destruction of the Collateral. 
 9.6 No Waiver; Remedies Cumulative. Collateral Agent’s failure, at any time or
times, to require strict performance by a Borrower of any provision of this Agreement or any other Loan Document shall not waive, affect, or diminish any right of Collateral Agent thereafter to demand strict performance and compliance herewith or
therewith. No waiver hereunder shall be effective unless signed by Collateral Agent and then is only effective for the specific instance and purpose for which it is given. Collateral Agent’s rights and remedies under this Agreement and the
other Loan Documents are cumulative. Collateral Agent has all rights and remedies provided under the Code, by law, or in equity. Collateral Agent’s exercise of one right or remedy is not an election, and Collateral Agent’s waiver of any
Event of Default is not a continuing waiver. Collateral Agent’s delay in exercising any remedy is not a waiver, election, or acquiescence. 

9.7 Demand Waiver. Each Borrower waives demand, notice of default or dishonor, notice of payment and nonpayment, notice of any
default, nonpayment at maturity, release, compromise, settlement, extension, or renewal of accounts, documents, instruments, chattel paper, and guarantees held by Collateral Agent on which a Borrower is liable. 

10 NOTICES 

All notices, consents, requests, approvals, demands, or other communication by any party to this Agreement or any other Loan Document must
be in writing and shall be deemed to have been validly served, given, or delivered: (a) upon the earlier of actual receipt and three (3) Business Days after deposit in the U.S. mail, first class, registered or certified mail return receipt
requested, with proper postage prepaid; (b) upon transmission, when sent by facsimile transmission; (c) one (1) Business Day after deposit with a reputable overnight courier with all charges prepaid; or (d) when delivered, if
hand-delivered by messenger, all of which shall be addressed to the party to be notified and sent to the address, facsimile number indicated below. Each party may change its address or facsimile number by giving the other parties written notice
thereof in accordance with the terms of this Section 10. 
  

					
		 	If to Borrowers:	  	ALPHATEC SPINE, INC.
		 		  	ALPHATEC HOLDINGS, INC.
		 		  	5818 El Camino Real
		 		  	Carlsbad, CA 92008
		 		  	Attn: Peter C. Wulff - Chief Financial Officer
		 		  	Tel: 760-494-6749
		 		  	Fax: 760-930-2513
			
		 	If to Collateral Agent:	  	Silicon Valley Bank
		 		  	4370 La Jolla Village Drive, Suite 860
		 		  	San Diego, CA 92121
		 		  	Attn: Mike White
		 		  	Tel.: (858) 784-3310
		 		  	Fax: (858) 622-1424
			
		 	If to Oxford:	  	Oxford Finance Corporation
		 		  	133 N. Fairfax Street
		 		  	Alexandria, VA 22314
		 		  	Attn: Tim A. Lex, Chief Operating Officer
		 		  	Tel.: (703) 519-4900
		 		  	Fax: (703) 519-5225

  

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 11 CHOICE OF LAW, VENUE, JURY TRIAL WAIVER AND JUDICIAL REFERENCE 

California law governs the Loan Documents without regard to principles of conflicts of law. Each Borrower, Collateral Agent and Lenders
each submit to the exclusive jurisdiction of the State and Federal courts in Santa Clara County, California; provided, however, that nothing in this Agreement shall be deemed to operate to preclude Collateral Agent from bringing suit or taking other
legal action in any other jurisdiction to realize on the Collateral or any other security for the Obligations, or to enforce a judgment or other court order in favor of Collateral Agent and Lenders. Each Borrower expressly submits and consents in
advance to such jurisdiction in any action or suit commenced in any such court, and each Borrower hereby waives any objection that it may have based upon lack of personal jurisdiction, improper venue, or forum non conveniens and hereby consents to
the granting of such legal or equitable relief as is deemed appropriate by such court. Each Borrower hereby waives personal service of the summons, complaints, and other process issued in such action or suit and agrees that service of such summons,
complaints, and other process may be made by registered or certified mail addressed to either Borrower at the address set forth in Section 10 of this Agreement and that service so made shall be deemed completed upon the earlier to occur
of a Borrower’s actual receipt thereof or three (3) days after deposit in the U.S. mails, proper postage prepaid. 

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, EACH BORROWER, COLLATERAL AGENT AND LENDERS EACH WAIVE THEIR RIGHT TO A JURY TRIAL
OF ANY CLAIM OR CAUSE OF ACTION ARISING OUT OF OR BASED UPON THIS AGREEMENT, THE LOAN DOCUMENTS OR ANY CONTEMPLATED TRANSACTION, INCLUDING CONTRACT, TORT, BREACH OF DUTY AND ALL OTHER CLAIMS. THIS WAIVER IS A MATERIAL INDUCEMENT FOR THE PARTIES TO
ENTER INTO THIS AGREEMENT. EACH PARTY HAS REVIEWED THIS WAIVER WITH ITS COUNSEL. 
 WITHOUT INTENDING IN ANY WAY TO LIMIT
THE PARTIES’ AGREEMENT TO WAIVE THEIR RESPECTIVE RIGHT TO A TRIAL BY JURY, if the above waiver of the right to a trial by jury is not enforceable, the parties hereto agree that any and all disputes or controversies of any nature between them
arising at any time shall be decided by a reference to a private judge, mutually selected by the parties (or, if they cannot agree, by the Presiding Judge of the Santa Clara County, California Superior Court) appointed in accordance with California
Code of Civil Procedure Section 638 (or pursuant to comparable provisions of federal law if the dispute falls within the exclusive jurisdiction of the federal courts), sitting without a jury, in Santa Clara County, California; and the parties
hereby submit to the jurisdiction of such court. The reference proceedings shall be conducted pursuant to and in accordance with the provisions of California Code of Civil Procedure §§ 638 through 645.1, inclusive. The private judge shall
have the power, among others, to grant provisional relief, including without limitation, entering temporary restraining orders, issuing preliminary and permanent injunctions and appointing receivers. All such proceedings shall be closed to the
public and confidential and all records relating thereto shall be permanently sealed. If during the course of any dispute, a party desires to seek provisional relief, but a judge has not been appointed at that point pursuant to the judicial
reference procedures, then such party may apply to the Santa Clara County, California Superior Court for such relief. The proceeding before the private judge shall be conducted in the same manner as it would be before a court under the rules of
evidence applicable to judicial proceedings. The parties shall be entitled to discovery which shall be conducted in the same manner as it would be before a court under the rules of discovery applicable to judicial proceedings. The private judge
shall oversee discovery and may enforce all discovery rules and order applicable to judicial proceedings in the same manner as a trial court judge. The parties agree that the selected or appointed private judge shall have the power to decide all
issues in the action or proceeding, whether of fact or of law, and shall report a statement of decision thereon pursuant to the California Code of Civil Procedure § 644(a). Nothing in this paragraph shall limit the right of any party at any
time to exercise self-help remedies, foreclose against collateral, or obtain provisional remedies. The private judge shall also determine all issues relating to the applicability, interpretation, and enforceability of this paragraph. 

12 GENERAL PROVISIONS 

12.1 Termination of Revolving Line Prior to Revolving Line Maturity Date. The Revolving Line may be terminated prior to the
Revolving Line Maturity Date by Borrowers (or any of them), effective two (2) Business Days after written notice of termination is given to Lenders. Notwithstanding any such termination, Lenders’ liens and security interests in the
Collateral shall continue until each Borrower fully satisfies its 
  

 23 

 
Obligations under the Loan Documents. If such termination is at a Borrower’s election, or at either Lender’s election due to the occurrence and continuance of an Event of Default,
Borrowers shall pay to Lenders, in addition to the payment of any other expenses or fees then-owing, (x) a termination fee (the “Revolving Line Termination Fee”) in an amount equal to (i) Five Hundred Thousand Dollars
($500,000), if such termination occurs on or prior to the first anniversary of the Effective Date; and (ii) Two Hundred Fifty Thousand Dollars ($250,000), if such termination occurs after the first anniversary of the Effective Date; in each
case, to be shared among the Lenders pro rata according to their Revolving Commitment Percentages of the Revolving Line; and (y) the Revolving Line Accommodation Fee. 

12.2 Successors and Assigns. This Agreement binds and is for the benefit of the successors and permitted assigns of each party.
Borrowers may not assign this Agreement or any rights or obligations under it without Collateral Agent’s prior written consent (which may be granted or withheld in Collateral Agent’s reasonable discretion). Lenders have the right, without
the consent of or notice to either Borrower, to sell, transfer, assign, negotiate, or grant participation in all or any part of, or any interest in, Lenders’ obligations, rights, and benefits under this Agreement and the other Loan Documents.

 12.3 Indemnification; Expenses. Each Borrower agrees to indemnify, defend and hold Collateral Agent and the Lenders
and their respective directors, officers, employees, agents, attorneys, or any other Person affiliated with or representing Collateral Agent or the Lenders (each, an “Indemnified Person”) harmless against: (a) all obligations,
demands, claims, and liabilities (collectively, “Claims”) asserted by any other party in connection with the transactions contemplated by the Loan Documents; and (b) all losses or Lenders’ Expenses incurred, or paid by
such Indemnified Person from, following, or arising from transactions between Collateral Agent, and/or Lenders and either Borrower (including reasonable attorneys’ fees and expenses), except to the extent that such are Claims and/or losses
directly caused by such Indemnified Person’s gross negligence or willful misconduct. 
 12.4 Time of Essence. Time
is of the essence for the performance of all Obligations in this Agreement. 
 12.5 Severability of Provisions. Each
provision of this Agreement is severable from every other provision in determining the enforceability of any provision. 

12.6 Correction of Loan Documents. Lenders may, after reasonable consultation with Borrowers, correct immaterial patent errors and
fill in any blanks in this Agreement and the other Loan Documents consistent with the agreement of the parties. 
 12.7
Amendments in Writing; Integration. All amendments to this Agreement must be in writing signed by Collateral Agent, Lenders and Borrowers. This Agreement and the other Loan Documents represent the entire agreement about this subject matter and
supersede prior negotiations or agreements. All prior agreements, understandings, representations, warranties, and negotiations between the parties about the subject matter of this Agreement and the Loan Documents merge into this Agreement and the
other Loan Documents. 
 12.8 Counterparts. This Agreement may be executed in any number of counterparts and by different
parties on separate counterparts, each of which, when executed and delivered, are an original, and all taken together, constitute one Agreement. 

12.9 Borrowers’ Liability. Either Borrower may, acting singly, request Credit Extensions hereunder. Each Borrower hereby
appoints the other as agent for the other for all purposes hereunder, including with respect to requesting Credit Extensions hereunder. Each Borrower hereunder shall be obligated to repay all Credit Extensions made hereunder, regardless of which
Borrower actually receives said Credit Extension, as if each Borrower hereunder directly received all Credit Extensions. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights
that it may have at law or in equity (including, without limitation, any law subrogating such Borrower to the rights of Lenders under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower,
or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by a Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to
benefit from, or to participate in, any security for the Obligations as a result of any payment made by a Borrower 
  

 24 

 
with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section
shall be null and void. If any payment is made to a Borrower in contravention of this Section, such Borrower shall hold such payment in trust for Lenders and such payment shall be promptly delivered to Lenders for application to the Obligations,
whether matured or unmatured. 
 12.10 Survival. All covenants, representations and warranties made in this Agreement
continue in full force until this Agreement has terminated pursuant to its terms and all Obligations (other than inchoate indemnity obligations and any other obligations which, by their terms, are to survive the termination of this Agreement) have
been satisfied. The obligation of each Borrower in Section 12.3 to indemnify Collateral Agent and each Lender shall survive until the statute of limitations with respect to such claim or cause of action shall have run. 

12.11 Confidentiality. In handling any confidential information, Collateral Agent and each Lender shall exercise the same degree
of care that it exercises for its own proprietary information, but disclosure of information may be made: (a) to Lenders’ and Collateral Agent’s Subsidiaries or Affiliates; (b) to prospective transferees or purchasers of any
interest in the Credit Extensions (provided, however, Lenders and Collateral Agent shall use commercially reasonable efforts to obtain such prospective transferee’s or purchaser’s agreement to the terms of this provision); (c) as
required by law, regulation, subpoena, or other order; (d) to regulators or as otherwise required in connection with an examination or audit; and (e) as Collateral Agent considers appropriate in exercising remedies under the Loan
Documents. Confidential information does not include information that either: (i) is in the public domain or in Lenders’ and/or Collateral Agent’s possession when disclosed to Lenders and/or Collateral Agent, or becomes part of the
public domain after disclosure to Lenders and/or Collateral Agent; or (ii) is disclosed to Lenders and/or Collateral Agent by a third party, if Lenders and/or Collateral Agent does not know that the third party is prohibited from disclosing the
information. 
 Lenders and Collateral Agent may use confidential information for any purpose, including, without limitation,
for the development of client databases, reporting purposes, and market analysis, so long as Lenders and the Collateral Agent do not disclose either Borrower’s identity or the identity of any person associated with either Borrower unless
otherwise expressly permitted by this Agreement. The provisions of the immediately preceding sentence shall survive the termination of this Agreement. 

12.12 Attorneys’ Fees, Costs and Expenses. In any action or proceeding between Borrowers, Collateral Agent and/or Lenders
arising out of or relating to the Loan Documents, the prevailing party shall be entitled to recover its reasonable attorneys’ fees and other costs and expenses incurred, in addition to any other relief to which it may be entitled. 

12.13 Right of Set Off. Each Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of
set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, Collateral and property, now or hereafter in the possession, custody,
safekeeping or control of Collateral Agent or Lenders or any entity under the control of Collateral Agent or Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance
of an Event of Default, without demand or notice, Collateral Agent or Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrowers even though unmatured and regardless of the adequacy of any other
Collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH
DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWERS ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED. 
 12.14 Effect of
Amendment and Restatement. Except as otherwise set forth herein, this Agreement is intended to and does completely amend and restate, without novation, the Original Agreement. All security interests granted under the Original Agreement are
hereby confirmed and ratified and shall continue to secure all Obligations under this Agreement. 
  

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 13 DEFINITIONS 

13.1 Definitions. As used in this Agreement, the following terms have the following meanings: 

“Account” is any “account” as defined in the Code with such additions to such term as may hereafter be made,
and includes, without limitation, all accounts receivable and other sums owing to a Borrower. 
 “Account
Debtor” is any “account debtor” as defined in the Code with such additions to such term as may hereafter be made. 

“Acquisition” is any sale, license, or other disposition of all or substantially all of the assets of Parent, or any
reorganization, consolidation, or merger of Parent where the holders of Parent’s securities before the transaction beneficially own less than fifty percent (50%) of the outstanding voting securities of the surviving entity after the
transaction. 
 “Affiliate” of any Person is a Person that owns or controls directly or indirectly the Person,
any Person that controls or is controlled by or is under common control with the Person, and each of that Person’s senior executive officers, directors, partners and, for any Person that is a limited liability company, that Person’s
managers and members. 
 “Agreement” is defined in the preamble hereof. 

“API” means Alphatec Pacific, Inc., a wholly owned Subsidiary of Parent organized under the laws of Japan. 

“API Share Pledge Documents” means (i) the API Share Pledge Agreement and any related documents and
(ii) resolutions of API authorizing such share pledge documents. 
 “Availability Amount” is (a) the
lesser of (i) the Revolving Line or (ii) the amount available under the Borrowing Base minus (b) the amount of all outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit) plus an amount equal to the Letter
of Credit Reserve, minus (c) the FX Reduction Amount, minus (d) any amounts used for Cash Management Services, and minus (e) the outstanding principal balance of any Revolving Advances. 

“Bank” is defined in the preamble hereof. 

“Borrower” and “Borrowers” are defined in the preamble hereof. 

“Borrower’s Books” are all of a Borrower’s books and records including ledgers, federal and state tax
returns, records regarding a Borrower’s assets or liabilities, the Collateral, business operations or financial condition, and all computer programs or storage or any equipment containing such information. 

“Borrowing Base” is (a) eighty percent (80%) of Eligible Accounts plus (b) the lesser of thirty percent
(30%) of the value of Alphatec’s Eligible Inventory (valued at the lower of cost or wholesale fair market value) or Three Million Dollars ($3,000,000), as determined by Lenders from Borrowers’ most recent Transaction Report; provided,
however, that (i) Lenders may decrease the foregoing percentages in their good faith business judgment based on events, conditions, contingencies, or risks which, as determined by Lenders, may adversely affect Collateral; and
(ii) Revolving Advances made against Eligible Inventory shall not exceed thirty percent (30%) of aggregate outstanding Revolving Advances. 

“Borrowing Resolutions” are, with respect to any Person, those resolutions adopted by such Person’s Board of
Directors and delivered by such Person to Lenders approving the Loan Documents to which such Person is a party and the transactions contemplated thereby, together with a certificate executed by its secretary on behalf of such Person certifying that
(a) such Person has the authority to execute, deliver, and perform its obligations under each of the Loan Documents to which it is a party, (b) that attached as an exhibit to such certificate is a true, correct,

  

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and complete copy of the resolutions then in full force and effect authorizing and ratifying the execution, delivery, and performance by such Person of the Loan Documents to which it is a party,
(c) the name(s) of the Person(s) authorized to execute the Loan Documents on behalf of such Person, together with a sample of the true signature(s) of such Person(s), and (d) that Lenders may conclusively rely on such certificate unless
and until such Person shall have delivered to Lenders a further certificate canceling or amending such prior certificate. 

“Business Day” is any day that is not a Saturday, Sunday or a day on which Bank is closed. 

“Cash Management Services” is defined in Section 2.1.5. 

“Code” is the Uniform Commercial Code, as the same may, from time to time, be enacted and in effect in the State of
California; provided, that, to the extent that the Code is used to define any term herein or in any Loan Document and such term is defined differently in different Articles or Divisions of the Code, the definition of such term contained in Article
or Division 9 shall govern; provided further, that in the event that, by reason of mandatory provisions of law, any or all of the attachment, perfection, or priority of, or remedies with respect to, Collateral Agent’s and Lenders’ Lien on
any Collateral is governed by the Uniform Commercial Code in effect in a jurisdiction other than the State of California, the term “Code” shall mean the Uniform Commercial Code as enacted and in effect in such other jurisdiction solely for
purposes on the provisions thereof relating to such attachment, perfection, priority, or remedies and for purposes of definitions relating to such provisions. 

“Collateral” is any and all properties, rights and assets of each Borrower described on Exhibit A. 

“Collateral Account” is any Deposit Account, Securities Account, or Commodity Account. 

“Collateral Agent” means Silicon Valley Bank, not in its individual capacity, but solely in its capacity as agent on
behalf of and for the benefit of the Lenders. 
 “Commodity Account” is any “commodity account” as
defined in the Code with such additions to such term as may hereafter be made. 
 “Compliance Certificate” is
that certain certificate in the form attached hereto as Exhibit D. 
 “Consigned Collateral” means raw
materials, Equipment and Inventory that has been (i) consigned to Borrowers’ third party distribution agents and/or direct sales agents in the ordinary course of Borrowers’ business, or (ii) transferred to a drop-ship location in
the ordinary course of Borrowers’ business. 
 “Contingent Obligation” is, for any Person, any direct or
indirect liability, contingent or not, of that Person for (a) any indebtedness, lease, dividend, letter of credit or other obligation of another such as an obligation directly or indirectly guaranteed, endorsed, co-made, discounted or sold with
recourse by that Person, or for which that Person is directly or indirectly liable; (b) any obligations for undrawn letters of credit for the account of that Person; and (c) all obligations from any interest rate, currency or commodity
swap agreement, interest rate cap or collar agreement, or other agreement or arrangement designated to protect a Person against fluctuation in interest rates, currency exchange rates or commodity prices; but “Contingent Obligation” does
not include endorsements in the ordinary course of business. The amount of a Contingent Obligation is the stated or determined amount of the primary obligation for which the Contingent Obligation is made or, if not determinable, the maximum
reasonably anticipated liability for it determined by the Person in good faith; but the amount may not exceed the maximum of the obligations under any guarantee or other support arrangement. 

“Control Agreement” is any control agreement entered into among the depository institution at which a Borrower
maintains a Deposit Account or the securities intermediary or commodity intermediary at which a Borrower maintains a Securities Account or a Commodity Account, such Borrower, and Collateral Agent pursuant to which Collateral Agent obtains control
(within the meaning of the Code) for the benefit of the Lenders over such Deposit Account, Securities Account, or Commodity Account. 
  

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 “Credit Extension” is the Growth Capital Advance, any Revolving Advance,
Letter of Credit, FX Forward Contract, amount utilized for Cash Management Services, or any other extension of credit by Lenders for a Borrower’s benefit. 

“Debt Service” means, as of the last day of each fiscal quarter, principal and interest of Indebtedness of Borrowers
and their Subsidiaries determined on a consolidated basis due within twelve (12) months after such day. 

“Default” means any event which with notice or passage of time or both, would constitute an Event of Default.

 “Default Rate” is defined in Section 2.4(b). 

“Deposit Account” is any “deposit account” as defined in the Code with such additions to such term as may
hereafter be made. 
 “Designated Deposit Account” is Alphatec’s deposit account, account number
3300650019, maintained with Bank. 
 “Dollars,” “dollars” and “$” each mean
lawful money of the United States. 
 “EBITDA” means earnings before interest, taxes, depreciation,
amortization, realized and unrealized foreign exchange gain and loss and non-cash charges related to equity-based compensation and cash and non-cash in-process research and development expenses, plus transaction related deal costs and restructuring
costs in accordance with FAS 141R (as defined by the Financial Accounting Standards Board and specifically related to non-operational and non-recurring expenses). The cash-based in-process research and development add-back, for purposes of this
calculation, shall be limited to $1,000,000 in any given quarter; plus up to (i) $450,000 upon the execution of the Parcell Spine LLC License and Supply Agreement; and (ii) $2,000,000 ($1,000,000 in cash and $1,000,000 in common stock)
upon successful completion of the preclinical animal study for posterolateral fusion. Transaction related deal costs and restructuring costs, for purposes of this calculation, shall be limited to (x) the aggregate amount of $8,000,000 for
fiscal years 2010 and 2011; and (y) $0 thereafter. Cash-based in-process R&D payments, and transaction related deal costs and restructuring costs, in excess of the amounts set forth in the respective preceding sentences, shall not be
included in the calculation of EBITDA. 
 “Effective Date” is defined in the preamble of this Agreement.

 “Eligible Accounts” means Accounts which arise in the ordinary course of a Borrower’s business that
meet all Borrowers’ representations and warranties in Section 5.2. Lenders reserve the right at any time after the Effective Date to adjust any of the criteria set forth below and to establish new criteria in its good faith business
judgment. Eligible Accounts shall not include: 
 (a) Accounts that the Account Debtor has not paid within ninety
(90) days of invoice date regardless of invoice payment period terms; 
 (b) Accounts owing from an Account Debtor, fifty
percent (50%) or more of whose Accounts have not been paid within ninety (90) days of invoice date; 
 (c) Accounts
billed in the United States and owing from an Account Debtor which does not have its principal place of business in the United States or Canada unless such Accounts are otherwise Eligible Accounts and (i) covered in full by credit insurance
satisfactory to Lenders, less any deductible, (ii) supported by letter(s) of credit acceptable to Lenders, (iii) supported by a guaranty from the Export-Import Bank of the United States, or (iv) that Lenders otherwise approve of in
writing.; 
 (d) Accounts billed and payable outside of the United States unless the Lenders have a first priority, perfected
security interest or other enforceable Lien in such Accounts; 
  

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 (e) Accounts owing from an Account Debtor to the extent that either Borrower is indebted or
obligated in any manner to the Account Debtor (as creditor, lessor, supplier or otherwise - sometimes called “contra” accounts, accounts payable, customer deposits or credit accounts), with the exception of customary credits, adjustments
and/or discounts given to an Account Debtor by a Borrower in the ordinary course of its business; 
 (f) Accounts for which the
Account Debtor is a Borrower’s Affiliate, officer, employee, or agent; 
 (g) Accounts with credit balances over ninety
(90) days from invoice date; 
 (h) Accounts owing from an Account Debtor, including Affiliates, whose total obligations
to a Borrower exceed twenty-five (25%) of all Accounts, for the amounts that exceed that percentage, unless Lenders approve in writing; 

(i) Accounts owing from an Account Debtor which is a United States government entity or any department, agency, or instrumentality
thereof unless the applicable Borrower has assigned its payment rights to Lenders and the assignment has been acknowledged under the Federal Assignment of Claims Act of 1940, as amended; 

(j) Accounts for demonstration or promotional equipment, or in which goods are consigned, or sold on a “sale guaranteed”,
“sale or return”, “sale on approval”, or other terms if Account Debtor’s payment may be conditional; 

(k) Accounts owing from an Account Debtor that has not been invoiced or where goods or services have not yet been rendered to the
Account Debtor (sometimes called memo billings or pre-billings); 
 (l) Accounts subject to contractual arrangements between a
Borrower and an Account Debtor where payments shall be scheduled or due according to completion or fulfillment requirements where the Account Debtor has a right of offset for damages suffered as a result of a Borrower’s failure to perform in
accordance with the contract (sometimes called contracts accounts receivable, progress billings, milestone billings, or fulfillment contracts); 

(m) Accounts owing from an Account Debtor the amount of which may be subject to withholding based on the Account Debtor’s
satisfaction of a Borrower’s complete performance (but only to the extent of the amount withheld; sometimes called retainage billings); 

(n) Accounts subject to trust provisions, subrogation rights of a bonding company, or a statutory trust; 

(o) Accounts owing from an Account Debtor that has been invoiced for goods that have not been shipped to the Account Debtor unless
Lenders, the applicable Borrower, and the Account Debtor have entered into an agreement acceptable to Lenders in their sole discretion wherein the Account Debtor acknowledges that (i) it has title to and has ownership of the goods wherever
located, (ii) a bona fide sale of the goods has occurred, and (iii) it owes payment for such goods in accordance with invoices from the applicable Borrower (sometimes called “bill and hold” accounts); 

(p) Accounts owing from an Account Debtor with respect to which a Borrower has received Deferred Revenue (but only to the extent of such
Deferred Revenue); 
 (q) Accounts for which the Account Debtor has not been invoiced; 

(r) Accounts that represent non-trade receivables or that are derived by means other than in the ordinary course of a Borrower’s
business; 
  

 29 

 (s) Accounts for which a Borrower has permitted Account Debtor’s payment to extend
beyond 90 days; 
 (t) Accounts subject to chargebacks or others payment deductions taken by an Account Debtor (but only to the
extent the chargeback is determined invalid and subsequently collected by a Borrower); 
 (u) Accounts in which the Account
Debtor disputes liability or makes any claim (but only up to the disputed or claimed amount), or if the Account Debtor is subject to an Insolvency Proceeding, or becomes insolvent, or goes out of business; and 

(v) Accounts for which Lenders in their good faith business judgment determines collection to be doubtful. 

“Eligible Inventory” means Inventory that meets in all material respects all of Borrowers’ representations and
warranties in Section 5.2 and is finished goods Inventory located at Borrower’s leased facilities located at 5818 El Camino Real, Carlsbad, CA 92008 and 5830 El Camino Real, Carlsbad, CA 92008. 

“Equipment” is all “equipment” as defined in the Code with such additions to such term as may hereafter be
made, and includes without limitation all machinery, fixtures, goods, vehicles (including motor vehicles and trailers), personal computers, laptops, workstations, routers and other computer equipment, and any interest in any of the foregoing

 “ERISA” is the Employee Retirement Income Security Act of 1974, and its regulations. 

“Event of Default” is defined in Section 8. 

“Fixed Charge Coverage Ratio” means, as of any date of determination, the ratio of EBITDA to Debt Service. 

“Foreign Currency” means lawful money of a country other than the United States. 

“Funding Date” is any date on which a Credit Extension is made to or on account of a Borrower which shall be a Business Day.

 “FX Business Day” is any day when (a) Bank’s Foreign Exchange Department is conducting its normal
business and (b) the Foreign Currency being purchased or sold by a Borrower is available to Bank from the entity from which Bank shall buy or sell such Foreign Currency. 

“FX Forward Contract” is defined in Section 2.1.4. 

“FX Reduction Amount” is defined in Section 2.1.4. 

“FX Reserve” is defined in Section 2.1.4. 

“GAAP” is generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting
Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other Person as may be approved by a significant segment of
the accounting profession, which are applicable to the circumstances as of the date of determination. 
 “General
Intangibles” is all “general intangibles” as defined in the Code in effect on the date hereof with such additions to such term as may hereafter be made, and includes without limitation, all copyright rights, copyright
applications, copyright registrations and like protections in each work of authorship and derivative work, whether published or unpublished, any patents, trademarks, service marks and, to the extent permitted under applicable law, any applications
therefor, whether registered or not, any trade secret rights, including any rights to 
  

 30 

 
unpatented inventions, payment intangibles, royalties, contract rights, goodwill, franchise agreements, purchase orders, customer lists, route lists, telephone numbers, domain names, claims,
income and other tax refunds, security and other deposits, options to purchase or sell real or personal property, rights in all litigation presently or hereafter pending (whether in contract, tort or otherwise), insurance policies (including without
limitation key man, property damage, and business interruption insurance), payments of insurance and rights to payment of any kind. 

“Governmental Approval” is any consent, authorization, approval, order, license, franchise, permit, certificate,
accreditation, registration, filing or notice, of, issued by, from or to, or other act by or in respect of, any Governmental Authority. 

“Governmental Authority” is any nation or government, any state or other political subdivision thereof, any agency,
authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative functions of or pertaining to government, any securities exchange and any
self-regulatory organization. 
 “Growth Capital Accommodation Fee” is defined in Section 2.5(a) hereof.

 “Growth Capital Advance” is an advance made by the Lenders, severally and not jointly, under the Original
Agreement, in the original principal amount of Fifteen Million Dollars ($15,000,000). 
 “Growth Capital Commitment
Percentage” means 55.56% with respect to SVB and 44.44% with respect to Oxford. 
 “Growth Capital Final
Payment” is a payment (in addition to and not a substitution for the regular monthly payments of principal plus accrued interest) due on the earlier to occur of (a) the Growth Capital Maturity Date, (b) the acceleration of the
Growth Capital Advance, or (c) the prepayment of the Growth Capital Advance, in the amount of One Million Five Thousand Six Hundred Forty-Five Dollars and 73/100 ($1,005,645.73) [provided the Effective Date is on or prior to March 31,
2010; otherwise the foregoing sum will be recalculated by Lenders]; to be shared among the Lenders as determined by the Lenders in their sole discretion. 

“Growth Capital Maturity Date” is the earliest of (a) April 1, 2012, or (b) the occurrence of an Event
of Default. 
 “Guarantor” means any guarantor of the Obligations. 

“Indebtedness” is (a) indebtedness for borrowed money or the deferred price of property or services, such as
reimbursement and other obligations for surety bonds and letters of credit, (b) obligations evidenced by notes, bonds, debentures or similar instruments, (c) capital lease obligations, and (d) Contingent Obligations. 

“Insolvency Proceeding” is any proceeding by or against any Person under the United States Bankruptcy Code, or any
other bankruptcy or insolvency law, including assignments for the benefit of creditors, compositions, extensions generally with its creditors, or proceedings seeking reorganization, arrangement, or other relief. 

“Inventory” is all “inventory” as defined in the Code in effect on the date hereof with such additions to
such term as may hereafter be made, and includes without limitation all merchandise, raw materials, parts, supplies, packing and shipping materials, work in process and finished products, including without limitation such inventory as is temporarily
out of a Borrower’s custody or possession or in transit and including any returned goods and any documents of title representing any of the above. 

“Investment” is any beneficial ownership interest in any Person (including stock, partnership interest or other
securities), and any loan, advance or capital contribution to any Person. 
 “Lender” is any one of the
Lenders. 
  

 31 

 “Lenders” shall mean the Persons identified in the preamble of this
Agreement and each assignee that becomes a party to this Agreement pursuant to Section 12.2. 
 “Lenders’
Expenses” are all audit fees and expenses, costs, and expenses (including reasonable attorneys’ fees and expenses) for preparing, amending, negotiating, administering, defending and enforcing the Loan Documents and the Warrants
(including, without limitation, those incurred in connection with appeals or Insolvency Proceedings) or otherwise incurred with respect to a Borrower. 

“Letter of Credit” means a standby letter of credit issued by Bank or another institution based upon an application,
guarantee, indemnity or similar agreement on the part of Bank as set forth in Section 2.1.3. 
 “Letter of Credit
Application” is defined in Section 2.1.3(a). 
 “Letter of Credit Reserve” has the meaning set
forth in Section 2.1.3(g). 
 “Lien” is a claim, mortgage, lien, deed of trust, levy, charge, pledge, security
interest or other encumbrance. 
 “Loan Documents” are, collectively, this Agreement, the Perfection
Certificate, the Milverton Share Pledge Documents, the API Share Pledge Documents any Note, or Notes or guaranties and/or security agreements executed by a Borrower or any guarantor, and any other present or future agreement, other than the
Warrants, between a Borrower, any guarantor and/or for the benefit of Collateral Agent and/or any Lender in connection with this Agreement, all as amended, restated, or otherwise modified. 

“Material Adverse Change” is (a) a material impairment in the perfection or priority of Collateral Agent’s
Lien in the Collateral or in the value of such Collateral; (b) a material adverse change in the business, operations, or condition (financial or otherwise) of a Borrower; (c) a material impairment of the prospect of repayment of any
portion of the Obligations. or (d) Lenders determine, based upon information available to them and in their reasonable judgment, that there is a reasonable likelihood that Borrowers shall fail to comply with one or more of the financial
covenants in Section 6 during the next succeeding financial reporting period. 
 “Milverton” means
Milverton Ltd., a wholly owned subsidiary of Parent organized under the laws of Hong Kong. 
 “Milverton Pledge
Documents” means (i) that certain Equitable Mortgage Over Shares executed by Parent and Milverton and (ii) resolutions of Milverton authorizing the Equitable Mortgage Over Shares. 

“NexMed” means NexMed, Inc., a California corporation. 

“Note” means for the Growth Capital Advance and the Revolving Advances, secured promissory notes in form and content
acceptable to Lenders. 
 “Obligations” are each Borrower’s obligation to pay when due any debts,
principal, interest, Lenders’ Expenses, Prepayment Fee, Growth Capital Final Payment, Growth Capital Accommodation Fee, Revolving Commitment Fee, Unused Revolving Line Facility Fee, Revolving Line Termination Fee, Revolving Line Accommodation
Fee, and other amounts a Borrower owes Lenders now or later, whether under this Agreement, the Loan Documents, or otherwise, including, without limitation, all obligations relating to letters of credit (including reimbursement obligations for drawn
and undrawn letters of credit), Cash Management Services, and foreign exchange contracts, if any, and including interest accruing after Insolvency Proceedings begin (whether or not allowed) and debts, liabilities, or obligations of a Borrower
assigned to Lenders and/or Collateral Agent, and the performance of each Borrower’s duties under the Loan Documents. 

“Operating Documents” are, for any Person, such Person’s formation documents, as certified with the Secretary of
State of such Person’s state of formation on a date that is no earlier than 30 days prior to the Effective Date, and, (a) if such Person is a corporation, its bylaws in current form, (b) if such Person is a limited liability

  

 32 

 
company, its limited liability company agreement (or similar agreement), and (c) if such Person is a partnership, its partnership agreement (or similar agreement), each of the foregoing with
all current amendments or modifications thereto. 
 “Overadvance” is defined in Section 2.2.

 “Payment” means all checks, wire transfers and other items of payment received by any Lender (including
proceeds of Accounts and payment of the Obligations in full) for credit to Borrowers’ outstanding Credit Extensions or, if the balance of the Credit Extensions has been reduced to zero, for credit to its Deposit Accounts. 

“Payment/Advance Form” is that certain form attached hereto as Exhibit B. 

“Perfection Certificate” is defined in Section 5.1. 

“Permitted Indebtedness” is: 

(a) Each Borrower’s Indebtedness to Lenders and Collateral Agent under this Agreement and the other Loan Documents; 

(b) Indebtedness existing on the Effective Date and shown on the Perfection Certificate; 

(c) Subordinated Debt; 

(d) unsecured Indebtedness to trade creditors and with respect to insurance premiums, surety bonds and similar obligations incurred in
the ordinary course of business; 
 (e) Indebtedness not to exceed Seven Hundred Fifty Thousand Dollars ($750,000) in the
aggregate during the term of this Agreement secured by a lien described in clause (j) of the defined term “Permitted Liens;” provided such Indebtedness does not exceed the lesser of the cost or fair market value of the software
(and any related maintenance agreements) financed with such Indebtedness; 
 (f) Indebtedness secured by Permitted Liens;

 (g) extensions, refinancings, modifications, amendments and restatements of any items of Permitted Indebtedness
(a) through (e) above, provided that the then-outstanding principal amount thereof is not increased or the terms thereof are not modified to impose more burdensome terms upon a Borrower or its Subsidiary, as the case may be. 

“Permitted Investments” are: 

(a) Investments shown on the Perfection Certificate and existing on the Effective Date; 

(b) any Investments permitted by a Borrower’s investment policy, as amended from time to time, provided that such investment policy
(and any such amendment thereto) has been approved by Lenders; 
 (c) Investments consisting of the endorsement of negotiable
instruments for deposit or collection or similar transactions in the ordinary course of a Borrower; 
 (d) Investments accepted
in connection with Transfers permitted by Section 7.1; 
 (e) Investments by a Borrower in a Guarantor or another
Borrower and investments by a Guarantor in a Borrower; 
  

 33 

 (f) (i) Investments of Subsidiaries which are not Guarantors in or to other Subsidiaries
which are not Guarantor or a Borrower; and (ii) Investments by a Borrower in Subsidiaries which are not Guarantors not to exceed One Hundred Thousand Dollars ($100,000) in the aggregate in any fiscal year; 

(g) Investments consisting of (i) travel advances and employee relocation loans and other employee loans and advances in the
ordinary course of business, and (ii) loans to employees, officers or directors relating to the purchase of equity securities of a Borrower or its Subsidiaries pursuant to employee stock purchase plans or agreements approved by a
Borrower’s Board of Directors which do not exceed Two Hundred Fifty Thousand Dollars ($250,000) in the aggregate in any year, provided that no cash loans under this clause (ii) may be made if an Event of Default is then occurring or would
otherwise upon the making thereof; 
 (h) Investments (including debt obligations) received in connection with the bankruptcy
or reorganization of customers or suppliers and in settlement of delinquent obligations of, and other disputes with, customers or suppliers arising in the ordinary course of business; and 

(i) Investments consisting of notes receivable of, or prepaid royalties and other credit extensions, to customers and suppliers who are
not Affiliates, in the ordinary course of business; provided that this paragraph (i) shall not apply to Investments of a Borrower in any Subsidiary. 

Notwithstanding the foregoing, Permitted Investments shall not include, and each Borrower and each Subsidiary is prohibited from
purchasing, purchasing participations in, entering into any type of swap or other equivalent derivative transaction, or otherwise holding or engaging in any ownership interest in any type of debt instrument, including, without limitation, any
corporate or municipal bonds with a long-term nominal maturity for which the interest rate is reset through a dutch auction and more commonly referred to as an “auction rate security.” 

“Permitted Liens” are: 

(a) Liens existing on the Effective Date and shown on the Perfection Certificate or arising under this Agreement and the other Loan
Documents; 
 (b) Liens for taxes, fees, assessments or other government charges or levies, either not delinquent or being
contested in good faith and for which a Borrower maintains adequate reserves on its Books, if they have no priority over any of Collateral Agent’s and/or Lenders’ Liens; 

(c) statutory Liens securing claims or demands of materialmen, mechanics, carriers, warehousemen, landlords and other Persons imposed
without action of such parties, provided, they have no priority over any of Collateral Agent’s and/or Lenders’ Liens and the aggregate amount of such Liens does not at any time exceed Two Hundred Fifty Thousand Dollars ($250,000);

 (d) Liens to secure payment of workers’ compensation, employment insurance, old-age pensions, social security and other
like obligations incurred in the ordinary course of business, provided, they have no priority over any of Collateral Agent’s and/or Lenders’ Liens and the aggregate amount of the Indebtedness secured by such Liens does not at any time
exceed One Hundred Thousand Dollars ($100,000); 
 (e) Liens incurred in the extension, renewal or refinancing of the
indebtedness secured by Liens described in (a) through (e), but any extension, renewal or replacement Lien must be limited to the property encumbered by the existing Lien and the principal amount of the indebtedness may not increase;

 (f) Easements, reservations, rights-of-way, restrictions, minor defects or irregularities in title and similar charges or
encumbrances affecting real property not constituting or reasonable likely to have a Material Adverse Change; 
 (g) Leases or
subleases of real property granted in the ordinary course of business, and leases, subleases, non-exclusive licenses or sublicenses of property (other than real property or intellectual property) granted in the ordinary course of a Borrower’s
business, if the leases, subleases, licenses and sublicenses do not prohibit granting Collateral Agent and/or Lenders a security interest; 
  

 34 

 (h) Liens arising from judgments, decrees or attachments in circumstances not constituting
an Event of Default under Section 8.4 or 8.7; 
 (i) Liens in favor of other financial institutions arising in
connection with a Borrower’s deposit and/or securities accounts held at such institutions, provided that such Borrower has complied with Section 6.8 hereof; 

(j) Liens not to exceed Seven Hundred Fifty Thousand Dollars ($750,000) in the aggregate upon or in any software acquired or held by
Borrower or any of its Subsidiaries to secure the purchase price of such software or indebtedness incurred solely for the purpose of financing the acquisition of such software, provided that the Lien is confined solely to the software so acquired or
financed; and 
 (k) Purchase money Liens (i) on Equipment acquired or held by a Borrower incurred in connection with
financing the acquisition of the Equipment or (ii) existing on Equipment when acquired, if the Lien is confined to the property and improvements and the proceeds of the Equipment, in both cases, collectively, securing no more than One Million
Dollars ($1,000,000) in the aggregate amount outstanding. 
 “Person” is any individual, sole proprietorship,
partnership, limited liability company, joint venture, company, trust, unincorporated organization, association, corporation, institution, public benefit corporation, firm, joint stock company, estate, entity or government agency. 

“Prepayment Fee” shall be an additional fee payable to the Collateral Agent, for the ratable benefit of the Lenders
according to their respective Growth Capital Commitment Percentages, in amount equal to (i) Three Hundred Thousand Dollars ($300,000) if such prepayment occurs on or prior to the first anniversary of the Effective Date, and (ii) One
Hundred Fifty Thousand Dollars ($150,000) if such prepayment occurs thereafter. 
 “Prime Rate” is Bank’s
most recently announced “prime rate,” even if it is not Bank’s lowest rate. 
 “Registered
Organization” is any “registered organization” as defined in the Code with such additions to such term as may hereafter be made 

“Requirement of Law” is as to any Person, the organizational or governing documents of such Person, and any law
(statutory or common), treaty, rule or regulation or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person or any of its property or to which such Person or any of its
property is subject. 
 “Reserves” means, as of any date of determination, such amounts as Lenders may from
time to time establish and revise in their good faith business judgment, reducing the amount of Advances and other financial accommodations which would otherwise be available to a Borrower (a) to reflect events, conditions, contingencies or
risks which, as determined by Lenders in their good faith business judgment, do or may adversely affect (i) the Collateral or any other property which is security for the Obligations or its value (including without limitation any increase in
delinquencies of Accounts), (ii) the assets, business or prospects of a Borrower or any Guarantor, or (iii) the security interests and other rights of any Lender in the Collateral (including the enforceability, perfection and priority
thereof); or (b) to reflect Lenders’ good faith belief that any collateral report or financial information furnished by or on behalf of a Borrower or any Guarantor to Lenders is or may have been incomplete, inaccurate or misleading in any
material respect; or (c) in respect of any state of facts which any Lender determines in good faith constitutes an Event of Default or may, with notice or passage of time or both, constitute an Event of Default. 

“Responsible Officer” is any of the Chief Executive Officer, President, Chief Financial Officer and Secretary of each
Borrower. 
  

 35 

 “Revenue” means the consolidated revenue of Borrowers and their
Subsidiaries, determined in accordance with GAAP. 
 “Revolving Advance” or “Revolving
Advances” means an advance (or advances) under the Revolving Line. 
 “Revolving Commitment Fee” is
defined in Section 2.5(b) hereof. 
 “Revolving Commitment Percentage” means 55.56% with respect to SVB
and 44.44% with respect to Oxford. 
 “Revolving Line” is a Revolving Advance or Revolving Advances in an amount
equal to Twenty Five Million Dollars ($25,000,000). 
 “Revolving Line Accommodation Fee” is a payment (in addition
to and not a substitution for the regular monthly payments of principal plus accrued interest) due on the earlier to occur of (a) the Revolving Line Maturity Date, (b) the acceleration of the Revolving Line, or (c) the prepayment of
the Revolving Line, in the amount of (x) Two Hundred Fifty Thousand Dollars ($250,000), or (y) provided Parent receives, after the Effective Date and on or prior to June 30, 2010, net proceeds from the sale and issuance of
Parent’s equity securities in the minimum amount of Twenty Five Million Dollars ($25,000,000), One Hundred Twenty Five Thousand Dollars ($125,000); in any case of (x) or (y), to be shared among the Lenders pro rata according to their
Revolving Commitment Percentages of the Revolving Line. 
 “Revolving Line Maturity Date” is April 1,
2012. 
 “Revolving Line Termination Fee” is defined in Section 12.1. 

“Scient’x Loan Agreement” means that certain Loan and Security Agreement, dated as of May 29, 2009 (as
amended from time to time), by and between Oxford and Scient’x USA, Inc., a Florida corporation. 
 “Securities
Account” is any “securities account” as defined in the Code with such additions to such term as may hereafter be made. 

“Shares” means (i) sixty-five percent (65%) of the issued and outstanding capital stock, membership units or
other securities owned or held of record by a Borrower in any Subsidiary of such Borrower which is not an entity organized under the laws of the United States or any territory thereof, and (ii) one hundred percent (100%) of the issued and
outstanding capital stock, membership units or other securities owned or held of record by a Borrower in any Subsidiary of such Borrower which is an entity organized under the laws of the United States or any territory thereof. 

“Subordinated Debt” is indebtedness incurred by a Borrower subordinated to all of such Borrower’s now or hereafter
indebtedness to Lenders (pursuant to a subordination, intercreditor, or other similar agreement in form and substance satisfactory to Collateral Agent and Lenders entered into between Collateral Agent, the applicable Borrower or Borrowers and the
other creditor), on terms acceptable to and negotiated in good faith by Collateral Agent and Lenders. 

“Subsidiary” means, with respect to any Person, any Person of which more than fifty percent (50%) of the voting
stock or other equity interests is owned or controlled, directly or indirectly, by such Person or one or more Affiliates of such Person. 

“Transaction Report” is that certain report of transactions and schedule of collections in the form attached hereto as
Exhibit C. 
 “Transfer” is defined in Section 7.1. 

 

 36 

 “Unused Revolving Line Facility Fee” is defined in Section 2.5(c).

 “Warrants” are those certain Warrants to Purchase Stock, dated on or about the date of the Original
Agreement, executed by Parent in favor of Bank and Oxford. 
 [Balance of Page Intentionally Left Blank]

  

 37 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as
of the Effective Date. 
  

			
	 BORROWERS:
  

ALPHATEC SPINE, INC.

		
	By 	 	/s/ Peter C. Wulff
	Name:	 	Peter C. Wulff
	Title:	 	CFO and VP
	
	ALPHATEC HOLDINGS, INC.
		
	By 	 	/s/ Peter C. Wulff
	Name:	 	Peter C. Wulff
	Title:	 	CFO and VP
	
	 COLLATERAL AGENT:
  

SILICON VALLEY BANK

		
	By 	 	/s/ Sarah Larson
	Name:	 	Sarah Larson
	Title:	 	Relationship Manager
	
	 LENDERS:
  

SILICON VALLEY BANK

		
	By 	 	/s/ Sarah Larson
	Name:	 	Sarah Larson
	Title:	 	Relationship Manager
	
	OXFORD FINANCE CORPORATION
		
	By 	 	/s/ Tim Lex
	Name:	 	Tim Lex
	Title:	 	COO

  

 [Signature Page to Amended and Restated Loan and Security Agreement]Loan and Security Agreement

 Exhibit 10.2 

LOAN AND SECURITY AGREEMENT 

THIS LOAN AND SECURITY AGREEMENT (this “Agreement”) dated as of May 29, 2009 (the “Closing Date”)
between OXFORD FINANCE CORPORATION, a Delaware corporation (“Lender”), and SCIENT’X USA, INC., a Florida corporation (“Borrower”), provides the terms on which Lender shall lend to Borrower and
Borrower shall repay Lender. The parties agree as follows: 
 1 ACCOUNTING AND OTHER TERMS 

Accounting terms not defined in this Agreement shall be construed following IFRS. Calculations and determinations must be made following
IFRS. Capitalized terms not otherwise defined in this Agreement shall have the meanings set forth in Section 13. All other terms contained in this Agreement, unless otherwise indicated, shall have the meaning provided by the Code to the extent
such terms are defined therein. 
 2 LOAN AND TERMS OF PAYMENT 

2.1 Promise to Pay. Borrower unconditionally promises to pay Lender the outstanding principal amount of all Credit Extensions and
accrued and unpaid interest thereon and any other amounts due hereunder as and when due in accordance with this Agreement. 

2.1.1 Growth Capital Loan Facility. 

(a) Availability. Subject to the terms and conditions of this Agreement, on the Closing Date, Lender shall make one (1) Growth
Capital Advance to Borrower in the amount of Seven Million Five Hundred Thousand Dollars ($7,500,000). Borrower may transfer the proceeds of the Growth Capital Advance to any of the other Credit Parties as long as the transfer is evidenced by
instruments substantially in the form attached on Schedule 2.1.1. 
 (b) Repayment. Borrower shall make monthly payments
of interest only, in arrears, commencing on the first day of the second month following the month in which the Funding Date occurs and continuing thereafter on the first day of each successive calendar month during the Interest Only Period.
Commencing on the Amortization Date, Borrower shall make thirty (30) equal monthly payments of principal and interest, in arrears, which would fully amortize the outstanding amount of the Growth Capital Advance. All unpaid principal and accrued
and unpaid interest and all other amounts due on account of the Growth Capital Advance are due and payable in full on the Maturity Date. The Growth Capital Advance may only be prepaid in accordance with Sections 2.1.1(d) or 2.1.1(e). Borrower shall
pay any initial partial month’s interest from the Closing Date through the first day of the following month. 
 (c)
Final Payment. On the Maturity Date, Borrower shall pay, in addition to the unpaid principal and accrued interest and all other amounts due on such date with respect to the Growth Capital Advance, an amount equal to the Final Payment.

 (d) Permitted Prepayment. Borrower shall have the option to prepay all, but not less than all, of the Growth Capital
Advance made by Lender under this Agreement, provided Borrower, (i) provides written notice to Lender of its election to prepay the Growth Capital Advance at least seven (7) days prior to such prepayment, and (ii) pays, on the date of
such prepayment (A) all outstanding principal plus accrued interest on the Growth Capital Advance, (B) the Prepayment Fee, (C) the Final Payment, plus (D) all other sums, if any, that have become due and payable, including Lender
Expenses, if any, and interest at the Default Rate with respect to any past due amounts. 
 (e) Mandatory Prepayment Upon an
Acceleration. If the Growth Capital Advance is accelerated, following the occurrence of an Event of Default, Borrower shall immediately pay to Lender an amount equal to the sum of: (i) all outstanding principal plus accrued and unpaid
interest on the Growth Capital Advance, (ii) the Prepayment Fee, (iii) the Final Payment, plus (iv) all other sums, if any, that shall have become due and payable, including Lender Expenses, if any, and interest at the Default Rate
with respect to any past due amounts. 

 2.2 Payment of Interest on the Credit Extensions. 

(a) Interest Rate. Subject to Section 2.2(b), the principal amount outstanding under the Growth Capital Advance shall accrue
interest, which interest shall be payable in arrears, at a fixed per annum rate equal to 12.42%, which interest shall be payable monthly, in arrears, in accordance with Section 2.2(e) below. 

(b) Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall bear
interest at a rate per annum which is five percentage points above the rate that is otherwise applicable thereto (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.2(b) is not
a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Lender. For the avoidance of doubt, as soon as an Event of Default triggering the Default
Rate is cured subject to confirmation by Lender (such confirmation not to be unreasonably withheld), the outstanding Obligations shall cease bearing interest at the Default Rate and shall continue to bear interest at the ordinary rate set forth in
Section 2.2(a). 
 (c) 360-Day Year. Interest shall be computed on the basis of a 360-day year for the actual number
of days elapsed. 
 (d) Debit of Accounts. Lender may debit any of Borrower’s deposit accounts, including the
Designated Deposit Account, through automatic debit of such accounts, Automated Clearinghouse (“ACH”) or other transfers, for principal and interest payments or any other amounts Borrower owes Lender when due. These debits shall not
constitute a set-off. 
 (e) Payments. Unless otherwise provided, interest is payable monthly, in arrears, in accordance
with Section 2.1.1, on the first calendar day of each month. Payments of principal and/or interest received after 12:00 p.m. Eastern time are considered received at the opening of business on the next Business Day. When a payment is due on a
day that is not a Business Day, the payment is due the next Business Day and additional fees or interest, as applicable, shall continue to accrue. 

2.3 Fees. Borrower shall pay to Lender: 

(a) Facility Fee. A fully earned, non-refundable loan fee of Seventy Five Thousand Dollars ($75,000) (the “Facility
Fee”), receipt of which is acknowledged by Lender; 
 (b) Final Payment. The Final Payment when due on the Growth
Capital Maturity Date or pursuant to the terms of Sections 2.1.1(d) or 2.1.1(e); 
 (c) Prepayment Fee. The Prepayment
Fee, when due hereunder; and 
 (d) Lender Expenses. On the Closing Date, all Lender Expenses incurred through the
Closing Date, and after the Closing Date, all Lender Expenses within ten (10) Business Days of Lender’s delivery to Borrower of reasonable documentation and invoices related to such Lender Expenses. 

3 CONDITIONS OF LOAN 

3.1 Conditions Precedent to Growth Capital Advance. Lender’s obligation to make the Growth Capital Advance is subject to the
condition precedent that Borrower shall consent to or have delivered, in form and substance satisfactory to Lender, such documents, and completion of such other matters, as Lender may reasonably deem necessary or appropriate, including, without
limitation: 
 (a) duly executed original signatures to the Loan Documents; 

 

 - 2 - 

 (b) duly executed original signatures to the Control Agreement(s); 

(c) each Credit Party’s Operating Documents; 

(d) certificates of good standing issued by the Secretary of State of the States of Florida and Pennsylvania as of a date no earlier than
forty five (45) days prior to the Closing Date; 
 (e) duly executed original signatures to the completed Borrowing
Resolutions for Borrower; 
 (f) a guaranty executed by each of the Guarantors (other than Scient’x Italia S.r.l.);

 (g) security instruments, including pledges of the stock or share charges of Scient’x, S.A. owned by Scient’x
Groupe, S.A. and of the stock owned by Scient’x, S.A. of each of its direct Subsidiaries (other than Scient’x Italia S.r.l. and Scient’x Australia Pty Ltd.) and pledges of the other personal property of the Guarantors, duly executed
by each Guarantor (other than Scient’x Italia S.r.l.); 
 (h) a Success Fee Agreement; 

(i) an Intellectual Property Security Agreement for Scient’x, S.A. and Borrower; 

(j) evidence of repayment of certain loans by Scient’x, S.A of loans listed on Exhibit E attached hereto; 

(k) a landlord waiver; 

(l)(i) a signed copy of the “Convention d’avance en compte courant” entered into between Healthpoint (Luxembourg) II,
S.à.r.l, Scient’x Groupe S.A. and Scient’x, S.A.; (ii) evidence that Scient’x, S.A. has transferred an amount of at least €1,787,099.35 to the Borrower; (iii) a duly executed letter of Healthpoint (Luxembourg) II
S.à.r.l to the Lender by which Healthpoint (Luxembourg) II S.à.r.l undertakes to vote in favour of the capitalization of its advance of €3.85 million to Scient’x Groupe S.A.; (iv) a duly executed letter of
Scient’x Groupe S.A. to the Lender by which Scient’x Groupe S.A. undertakes to vote in favour of the capitalization of its advance of €3.85 million to Scient’x, S.A.; and (v) a duly executed letter of Healthpoint
(Luxembourg) I, S.à.r.l. to the Lender by which Healthpoint (Luxembourg) I, S.à.r.l. undertakes to vote in favour of the capitalization of Scient’x Groupe S.A.’s advance of €3.85 million to Scient’x, S.A.;

 (m) forms of loan and security instruments reasonably acceptable to Lender evidencing any advances or Investments after the
Closing Date by a Credit Party in or to Surgiview, S.A.S.; 
 (n) duly executed original signatures to the completed Borrowing
Resolutions for each Credit Party (other than Scient’x Italia S.r.l. and Scient’x Australia Pty Ltd.); 
 (o)
certified copies, dated as of a recent date, of financing statement searches, as Lender shall request, accompanied by written evidence (including any termination statements under the Code) that the Liens indicated in any such financing statements
either constitute Permitted Liens or have been or, in connection with the Growth Capital Advance, will be terminated or released; 

(p) Perfection Certificates executed by or on behalf of each Credit Party other than Scient’x Australia Pty Ltd.; 

(q) opinions of Covington & Burling LLP, Darrois Villey Maillot Brochier, and other counsel to Borrower and each Guarantor
(other than Scient’x Italia S.r.l.) dated as of the Closing Date; 
 (r) evidence satisfactory to Lender that the insurance
policies required by Section 6.5 hereof are in full force and effect, together with appropriate evidence showing lender loss payable and/or additional insured clauses or endorsements in favor of Lender; and 

 

 - 3 - 

 (s) payment of the fees and Lender Expenses then due as specified in Section 2.3
hereof. 
 3.2 Conditions Precedent to all Credit Extensions. Lender’s obligation to make each Credit Extension,
including the initial Credit Extension, is subject to the following: 
 (a) Borrower shall have duly executed and delivered to
Lender a note in the amount of the Credit Extension; 
 (b) the representations and warranties in Section 5 shall be true
in all material respects on the date of the Payment/Advance Form and on the Funding Date of each Credit Extension; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are
qualified or modified by materiality in the text thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date, and no
Default or Event of Default shall have occurred and be continuing or result from the Credit Extension; and 
 (c) in
Lender’s sole discretion, there has not been a Material Adverse Change. 
 3.3 Covenant to Deliver. Borrower
shall deliver to Lender each item required to be delivered to Lender under this Agreement as a condition to any Credit Extension. A Credit Extension made prior to the receipt by Lender of any such item shall not constitute a waiver by Lender of
Borrower’s obligation to deliver such item, and any such Credit Extension in the absence of a required item shall be made in Lender’s sole discretion. 

3.4 Procedures for Borrowing. Subject to the prior satisfaction of all other applicable conditions to the making of the Growth
Capital Advance set forth in this Agreement, the Growth Capital Advance shall be made upon Borrower’s irrevocable written notice delivered to Lender in the form of a Payment/Advance Form, executed by a Responsible Officer of Borrower or his or
her designee. Lender may rely on any telephone notice given by a person whom Lender believes is a Responsible Officer or designee. Borrower will indemnify Lender for any loss Lender suffers due to such reliance. Such Notice of Borrowing must be
received by Lender prior to 12:00 p.m. Eastern time, at least one (1) day prior to the requested Funding Date. 
 4
CREATION OF SECURITY INTEREST 
 4.1 Grant of Security Interest. Borrower grants Lender, to secure the payment
and performance in full of all of the Obligations, a continuing security interest in, and pledges to Lender, the Collateral, wherever located, whether now owned or hereafter acquired or arising, and all proceeds and products thereof. Borrower
represents, warrants, and covenants that the security interest granted herein is and shall at all times continue to be a first priority perfected security interest in the Collateral (subject only to Permitted Liens that may have priority by
operation of law under this Agreement). If Borrower shall acquire a commercial tort claim (as defined in the Code), Borrower shall promptly notify Lender in a writing signed by Borrower of the general details thereof (and further details as may be
required by Lender) and grant to Lender in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to Lender. 

If this Agreement is terminated, Lender’s Lien in the Collateral shall continue until the Obligations (other than inchoate indemnity
obligations) are repaid in full in cash. Upon payment in full in cash of the Obligations and at such time as Lender’s obligation to make Credit Extensions has terminated, Lender shall, at Borrower’s sole cost and expense, release its Liens
in the Collateral and all rights therein shall revert to Borrower. 
 4.2 Authorization to File Financing Statements.
Borrower authorizes Lender to file financing statements, without notice to Borrower, with all appropriate jurisdictions to perfect or protect Lender’s interest or rights hereunder, including a notice that any disposition of the Collateral, by
either Borrower or any other Person, shall be deemed to violate the rights of Lender under the Code. Such financing statements may indicate the Collateral as “all assets of the Debtor” or words of similar effect, or as being of an equal or
lesser scope, or with greater detail, all in Lender’s discretion. 
  

 - 4 - 

 5 REPRESENTATIONS AND WARRANTIES 

Borrower represents and warrants as follows: 

5.1 Due Organization, Authorization; Power and Authority. Each Credit Party is duly existing and in good standing in its
jurisdiction of formation and is qualified and licensed to do business and is in good standing in any jurisdiction in which the conduct of its business or its ownership of property requires that it be qualified except where the failure to do so
could not reasonably be expected to result in a Material Adverse Change. In connection with this Agreement Borrower, Scient’x, S.A., Scient’x Groupe, S.A., Surgiview, S.A.S. and Scient’x (UK) Limited have delivered to Lender
Perfection Certificates. Borrower represents and warrants to Lender that (a) each Credit Party’s exact legal name is that indicated on the Perfection Certificates and on the signature page hereof with respect to those Credit Parties
signing or acknowledging the Agreement; (b) each Credit Party is an organization of the type and is organized in the jurisdiction set forth on the Perfection Certificates; (c) the Perfection Certificates accurately set forth each Credit
Party’s organizational identification number or accurately states that such Credit Party has none; (d) the Perfection Certificates accurately set forth each Credit Party’s place of business, or, if more than one, such Credit
Party’s chief executive office as well as each Credit Party’s mailing address (if different than its chief executive office); (e) except as set forth in the Perfection Certificates, no Credit Party (and none of its predecessors) has,
in the past five (5) years, changed its jurisdiction of formation, organizational structure or type, or any organizational number assigned by its jurisdiction; and (f) all other information set forth on the Perfection Certificates
pertaining to each Credit Party and their Subsidiaries is accurate and complete (it being understood and agreed that Borrower may from time to time update certain information in the Perfection Certificates after the Closing Date to the extent
permitted by one or more specific provisions in this Agreement). If a Credit Party is not now a Registered Organization but later becomes one, Borrower shall promptly notify Lender of such occurrence and provide Lender with such Credit Party’s
organizational identification number. 
 The execution, delivery and performance by each Credit Party of the Loan Documents to
which it is a party have been duly authorized, and do not, except as set forth on the Perfection Certificates, (i) conflict with any of such Credit Party’s organizational documents, (ii) contravene, conflict with, constitute a default
in any material respect, under or violate any material Requirement of Law, (iii) contravene, conflict or violate any applicable order, writ, judgment, injunction, decree, determination or award of any Governmental Authority by which any Credit
Party or any its Subsidiaries or any of their property or assets may be bound or affected, (iv) require any action by, filing, registration, or qualification with, or Governmental Approval from, any Governmental Authority (except such
Governmental Approvals which have already been obtained and are in full force and effect) or (v) constitute an event of default under any material agreement by which any Credit Party is bound. No Credit Party is in default under any agreement
to which it is a party or by which it is bound in which the default could reasonably be expected to result in a Material Adverse Change. 

5.2 Collateral. Each Credit Party has good title to, has rights in, and the power to grant a security interest in, each item of
the Collateral upon which it purports to grant a Lien, free and clear of any and all Liens except Permitted Liens. No Credit Party has any deposit accounts other than the deposit accounts described in the Perfection Certificates, or of which
Borrower has given Lender notice and taken such actions as are necessary to give Lender a perfected security interest therein. 

The Collateral is not in the possession of any third party bailee (such as a warehouse) except as otherwise provided in the Perfection
Certificates. None of the components of the Collateral shall be maintained at locations other than (i) for Inventory maintained with distributors or customers in the ordinary course of Borrower’s business, (ii) as provided in the
Perfection Certificates, or (iii) as permitted pursuant to Section 7.2. 
 Except as set forth on the Perfection
Certificates, each Credit Party is the sole owner of, or otherwise has the right to use, such intellectual property, as each Credit Party, as applicable, uses as of the Closing Date in the conduct of its business in the ordinary course. Except as
set forth on the Perfection Certificates, (i) to the knowledge of the Responsible Officers, each patent owned by the Credit Parties is valid and enforceable, (ii) no part thereof has been judged invalid or unenforceable, and (iii) no
claim has been made in writing to any Credit Party that the practice thereof by any such Credit Party violates the rights of any third party, which claim could reasonably be expected to result in a Material Adverse Change. 

 

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 Except as set forth on the Perfection Certificates, no Credit Party is a licensee under any
material license agreement that prohibits or otherwise restricts a Credit Party from granting a security interest in its interest in such license agreement or any other property. Each Credit Party shall provide written notice to Lender within ten
(10) Business Days prior to entering or becoming bound by any such material license (other than over-the-counter software that is commercially available to the public), and shall take such steps as Lender reasonably requests to obtain the
consent of, or waiver by, any person whose consent or waiver is necessary for (x) the Credit Party’s interest in such license agreement to be deemed “Collateral” and for Lender to have a security interest in such property that
might otherwise be restricted or prohibited by law or by the terms of such license agreement, and (y) Lender to have the ability in the event of a liquidation of any Collateral to dispose of such Collateral in accordance with Lender’s
rights and remedies under this Agreement and the other Loan Documents. 
 5.3 Litigation. Except as set forth in the
Perfection Certificates, there are no actions or proceedings pending or, to the knowledge of the Responsible Officers, threatened in writing by or against any Credit Party involving more than One Hundred Thousand Dollars ($100,000). 

5.4 No Material Deviation in Financial Statements. All consolidated financial statements delivered to Lender fairly present in all
material respects the Credit Parties’ consolidated financial condition and consolidated results of operations for the time period covered by such financial statements. There has not been any material deterioration in the Credit Parties’
consolidated financial condition since the date of the most recent financial statements submitted to Lender. 
 5.5
Solvency. Excluding the effect of liabilities owed to Scient’x S.A, Scient’x Groupe S.A. or Borrower pursuant to shareholder loans, the fair salable value of each Credit Party’s assets (including goodwill minus disposition costs)
exceeds the fair value of its liabilities; no Credit Party is left with unreasonably small capital after the transactions in this Agreement; and each Credit Party (without taking into account such Credit Party’s obligations under any guarantee
to Lender) is able to pay its debts (including trade debts) as they mature. 
 5.6 Regulatory Compliance. No Credit Party
is (a) an “investment company” or a company “controlled” by an “investment company” under the Investment Company Act of 1940, as amended, (b) engaged as one of its important activities in extending credit for
margin stock (under Regulations X, T and U of the Federal Reserve Board of Governors), or (c) a “holding company” or an “affiliate” of a “holding company” or a “subsidiary company” of a “holding
company” as each term is defined and used in the Public Utility Holding Company Act of 2005. Each Credit Party has complied in all material respects with all material laws, ordinances or rules applicable to it. No Credit Party’s properties
or assets has been used by any Credit Party or, to the knowledge of the Responsible Officers, by previous Persons, in disposing, producing, storing, treating or transporting any hazardous substance other than legally. Each Credit Party has
(i) obtained all consents, approvals and authorizations of, (ii) made all declarations or filings with, and (iii) given all notices to, all Governmental Authorities that, in the case of each (i), (ii) and (iii) above, are
necessary to continue their respective businesses, in all material respects, as currently conducted. 
 5.7 Investments.
Borrower does not own any stock, partnership interest or other equity securities except for Permitted Investments. 
 5.8 Tax
Returns and Payments; Pension Contributions. For any periods as to which the applicable statutes of limitations have not run, and except for deferred payment of any taxes contested in good faith by such Credit Party by appropriate proceedings
promptly and diligently instituted and conducted, each Credit Party has timely filed all required tax returns and reports, and has timely paid all foreign, federal, state and local taxes, assessments, deposits and contributions owed by such Credit
Party. Each Credit Party may defer payment of any contested taxes, provided that each Credit Party (a) in good faith contests its obligation to pay the taxes by appropriate proceedings promptly and diligently instituted and conducted,
(b) notifies Lender in writing of the commencement of, and any material development in, the proceedings, (c) posts bonds or takes any other steps required to prevent the governmental authority levying such contested taxes from obtaining a
Lien upon any of the Collateral that is other than a “Permitted Lien”. There are no claims or adjustments proposed for any of any Credit Party’s prior tax years that could result in additional taxes becoming due and payable by such
Credit Party. Each Credit Party has paid all amounts necessary to fund all present pension, profit sharing and deferred compensation plans in accordance with their terms, as applicable, and no Credit Party has withdrawn from participation in, and
has not permitted partial or complete termination of, or permitted the occurrence of any other event with respect to, any such plan which could reasonably be expected to result in any material liability of a Credit Party, including any material
liability to the Pension Benefit Guaranty Corporation or its successors or any other governmental agency, as applicable. 
  

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 5.9 Use of Proceeds. Borrower and each other Credit Party shall use the proceeds of
the Credit Extensions solely as working capital and to fund its general business requirements and not for personal, family, household or agricultural purposes. 

5.10 Affiliate Agreements. Any material agreements between or among any Credit Parties are listed on Schedule 5.10.

 5.11 Full Disclosure. No written representation, warranty or other statement of any Credit Party in any certificate or
written statement given to Lender, as of the date such representation, warranty, or other statement was made, taken together with all such written certificates and written statements given to Lender, contains any untrue statement of a material fact
or omits to state a material fact necessary to make the statements contained in the certificates or statements not misleading (it being recognized by Lender that the projections and forecasts provided by Borrower in good faith and based upon
reasonable assumptions are not viewed as facts and that actual results during the period or periods covered by such projections and forecasts may differ from the projected or forecasted results). 

6 AFFIRMATIVE COVENANTS 

6.1 Government Compliance. Each Credit Party shall maintain its legal existence and good standing in its jurisdiction of
formation and each jurisdiction in which the nature of its business requires it to be so qualified, except where the failure to take such action would not reasonably be expected to result in a Material Adverse Change; provided, that no Credit
Party may permit its qualification to do business in the jurisdiction of its chief executive office to terminate or lapse. Each Credit Party shall comply, in all material respects, with all laws, ordinances and regulations to which it is subject,
noncompliance with which could reasonably be expected to result in a Material Adverse Change. 
 6.2 Financial
Statements, Reports, Certificates. 
 (a) Borrower shall deliver to Lender: (i) as soon as available, but no
later than forty-five (45) days after the last day of each fiscal month of the Borrower, company prepared consolidated and consolidating balance sheets and income statements covering the Credit Parties’ operations for such month certified
by a Responsible Officer and in a form reasonably acceptable to Lender; (ii) as soon as available, but no later than one hundred eighty (180) days after the last day of Borrower’s fiscal year, audited consolidated financial statements
prepared under IFRS, consistently applied, together with an unqualified opinion on the financial statements from an independent certified public accounting firm acceptable to Lender in its reasonable discretion; (iii) within five (5) days
of delivery, copies of all statements, reports and notices made available to Borrower’s or any Credit Party’s security holders or to any holders of Subordinated Debt; (iv) in the event that Borrower becomes subject to the reporting
requirements under the Securities Exchange Act of 1934, as amended, within five (5) days of filing, all reports on Form 10-K, 10-Q and 8-K filed with the Securities and Exchange Commission or a link thereto on Borrower’s or another website
on the Internet; (v) a prompt report of any legal actions pending or threatened in writing against any Credit Party, and of which such Credit Party has knowledge, that could result in damages or costs to any Credit Party or any of its
Subsidiaries of One Hundred Thousand Dollars ($100,000) or more; and (vi) such budgets, sales projections, operating plans and other financial information reasonably requested in writing by Lender. 

(b) Within forty-five (45) days after the last day of each month, Borrower shall deliver to Lender with the monthly financial
statements, a duly completed Compliance Certificate signed by a Responsible Officer setting forth calculations showing compliance with the financial covenants set forth in this Agreement for the period covered by such financial statements.

  

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 (c) Upon five (5) Business Days written notice to Borrower, Borrower shall allow
Lender, during normal business hours, to audit Borrower’s Collateral at Borrower’s expense. Such audits shall be conducted no more often than once every six (6) months unless an Event of Default has occurred and is continuing.

 (d) Deliver to Lender, within five (5) days after the same are sent or received, copies of all correspondence, reports,
documents and other filings with any Governmental Authority regarding compliance with or maintenance of Governmental Approvals or Requirements of Law and that could reasonably be expected to have a material effect on any of the Governmental
Approvals or otherwise result in a Material Adverse Change. 
 (e) Promptly notify Lender of any circumstance that results in
the Chief Executive Officer or the Chief Financial Officer and Chief Operating Officer of Scient’x, S.A. not being actively engaged in the management of Scient’x, S.A., and the hiring and approval by the Board of Directors of
Scient’x, S.A. of such person’s replacement. 
 6.3 Inventory; Returns. Each Credit Party shall (a) use
reasonable commercial efforts to keep all Inventory in good and marketable condition, free from material defects, (b) follow customary practices as they exist at the Closing Date as to returns and allowances between each Credit Party and its
Account Debtors, and (c) promptly notify Lender of all returns, recoveries and disputes and claims with respect to the foregoing that involve more than One Hundred Thousand Dollars ($100,000). 

6.4 Taxes; Pensions. Each Credit Party shall timely file all required tax returns and reports and timely pay all foreign, federal,
state and local taxes, assessments, deposits and contributions except for deferred payment of any taxes contested pursuant to the terms of Section 5.8 hereof, and shall deliver to Lender, promptly following written demand by Lender, appropriate
certificates attesting to such payments, and pay all amounts necessary to fund all present pension, profit sharing and deferred compensation plans in accordance with their terms. 

6.5 Insurance. Each Credit Party shall maintain its respective business and property insured for risks and in amounts standard for
companies in their respective industries, and as Lender may reasonably request. Insurance policies shall be in a form, with companies, and in amounts that are reasonably satisfactory to Lender. All of Borrower’s property policies shall have a
lender’s loss payable endorsement showing Lender as lender loss payee and waive subrogation against Lender, and all of Borrower’s liability policies shall show, or have endorsements showing, Lender as an additional insured. All of
Borrower’s policies (or the loss payable and additional insured endorsements) shall provide that the insurer shall give Lender at least twenty (20) days notice before canceling, amending, or declining to renew its policy. Promptly
following Lender’s written request, Borrower shall deliver certified copies of policies and evidence of all premium payments to Lender. If any Credit Party fails to obtain insurance as required under this Section 6.5 or to pay any amount
or furnish any required proof of payment to third persons and Lender, Lender may make all or part of such payment or obtain such insurance policies required in this Section 6.5, and take any action under the policies Lender deems prudent.

 6.6 Operating Accounts. 

(a) The Credit Parties shall maintain all Collateral Accounts with the banks or financial institutions set forth in Schedule 6.6.
Borrower, Scient’x, S.A. and Scient’x Groupe, S.A. shall cause their respective Collateral Accounts to be subject to Control Agreements (or their equivalents) in favor of and in form and substance reasonably acceptable to Lender. Within
one hundred and eighty (180) days of the Closing Date and in accordance with Section 6.13, Scient’x Italia S.r.l. shall cause its Collateral Accounts to be subject to Control Agreements (or their equivalents) in favor of and in form
and substance reasonably acceptable to Lender. 
 (b) Each Credit Party shall provide Lender five (5) days prior written
notice before establishing any Collateral Account at or with any bank or financial institution other than the banks or financial institutions set forth in Schedule 6.6. Borrower, Scient’x, S.A., Scient’x Groupe, S.A., and Scient’x
Italia S.r.l. shall cause the applicable bank or financial institution at or with which any Collateral Account is maintained to execute and deliver a Control Agreement or other appropriate instrument in form and substance reasonably acceptable to
Lender. 
  

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 6.7 Performance to Plan. The consolidated revenue of Scient’x, S.A. and
its Subsidiaries, tested quarterly on a trailing six-month basis, shall not be less than eighty percent (80%) of the projected revenue for such period set forth on Annex I attached hereto (the “Quarterly Revenue
Covenant”). As provided in Section 8.2(a) of this Agreement, failure to achieve the Quarterly Revenue Covenant shall constitute an Event of Default (as defined in Section 8), providing Lender with all the rights and remedies
set forth in this Agreement, including Section 9 and Section 2.2(b). To the extent that following an Event of Default caused by a failure to achieve the Quarterly Revenue Covenant, (a) the Lender decides (in its sole discretion)
to impose the Default Rate on the Obligations as provided by Section 2.2(b) and (b) the Borrower achieves the Quarterly Revenue Covenant in the immediately following quarter subject to confirmation by Lender (such confirmation not to be
unreasonably withheld), the outstanding Obligations shall cease bearing interest at the Default Rate and shall continue to bear interest at the ordinary rate set forth in Section 2.2(a). Nothing in this Section 6.7 shall be construed
to grant Borrower a cure period in respect of this Section 6.7 that would prevent Lender from immediately exercising all rights and remedies available to it under this Agreement following an Event of Default caused by a failure to achieve the
Quarterly Revenue Covenant.
 6.8 Protection and Registration of Intellectual Property Rights. Each Credit Party shall
(a) exercise commercially reasonable efforts to protect, defend and maintain the validity and enforceability of its intellectual property; (b) promptly advise Lender in writing of any known material infringements of its intellectual
property that is owned by such Credit Party and material to its business and (c) exercise commercially reasonable efforts to not permit any such intellectual property to be abandoned, forfeited or dedicated to the public without Lender’s
prior written consent, which consent shall not be unreasonably withheld or delayed. If a Credit Party (i) becomes the owner of any patent, registered trademark or servicemark, registered copyright, registered mask work, or any pending
application for any of the foregoing, whether as owner, licensee or otherwise, or (ii) applies for any patent or the registration of any trademark or servicemark, then such Credit Party shall promptly provide written notice thereof to Lender
and shall execute such intellectual property security agreements and other documents and take such other actions as Lender shall request in its good faith business judgment to perfect and maintain a first priority perfected security interest in
favor of Lender in such property. If any Credit Party decides to register any copyrights or mask works in the United States Copyright Office, Borrower shall: (x) provide Lender with at least ten (10) days prior written notice of such
Credit Party’s intent to register such copyrights or mask works together with a copy of the application it intends to file with the United States Copyright Office (excluding exhibits thereto); (y) execute an intellectual property security
agreement and such other documents and take such other actions as Lender may request in its good faith business judgment to perfect and maintain a first priority perfected security interest in favor of Lender in the copyrights or mask works intended
to be registered with the United States Copyright Office; and (z) record such intellectual property security agreement with the United States Copyright Office contemporaneously with filing the copyright or mask work application(s) with the
United States Copyright Office. Borrower shall promptly provide to Lender copies of all applications that any Credit Party files for patents or for the registration of trademarks, servicemarks, copyrights or mask works, together with evidence of the
recording of the intellectual property security agreement necessary for Lender to perfect and maintain a first priority perfected security interest in such property. 

6.9 Litigation Cooperation. From the date hereof and continuing through the termination of this Agreement, each Credit Party
shall, at the written request of Lender, make available to Lender, without expense to Lender, each Credit Party and its officers, employees and agents and such Credit Party’s books and records, to the extent that Lender may deem them reasonably
necessary to prosecute or defend any third-party suit or proceeding instituted by or against Lender with respect to any Collateral or relating to any Credit Party. 

6.10 Notices of Litigation and Default. Borrower shall give prompt written notice to Lender of any litigation, other than
litigation disclosed on the Perfection Certificates, or governmental proceedings pending or threatened (in writing) against any Credit Party which would reasonably be expected to result in a Material Adverse Change. Without limiting or contradicting
any other more specific provision of this Agreement, promptly (and in any event within three (3) Business Days) upon any Credit Party (or any officer thereof) becoming aware of the existence of any Event of Default or event which, with the
giving of notice or passage of time, or both, would constitute an Event of Default, Borrower shall give written notice to Lender of such occurrence, which such notice shall include a reasonably detailed description of such Event of Default or event
which, with the giving of notice or passage of time, or both, would constitute an Event of Default. 
  

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 6.11 Creation/Acquisition of Subsidiaries. (a) Borrower shall give prompt
written notice to Lender of the creation or acquisition by any Credit Party of any Subsidiary, (b) and each such Credit Party, as applicable, shall take all such action as may be reasonably required by Lender to cause such Subsidiary to
guarantee the Obligations and grant a security interest in the assets of such Subsidiary to Lender on terms reasonably acceptable to Lender, and (c) each such Credit Party, as applicable, shall grant to Lender a first priority perfected
security interest in the stock, units or other evidence of ownership of such Subsidiary owned by such Credit Party on terms reasonably acceptable to Lender. Lender acknowledges that the bylaws of Scient’x, S.A. require that each director of
Scient’x, S.A. hold at least one share of its stock. Lender agrees that until such time as the bylaws of Scient’x, S.A. are amended to eliminate this requirement, Lender will, upon the request of Scient’x, S.A. in connection with the
appointment of a new member of the Scient’x, S.A. board of directors, promptly release one share of Scient’x, S.A. stock from the pledge of Scient’x, S.A. shares referred to in Section 3.1(g) on the same terms as other shares of
existing directors, to allow such share to be transferred to the new member of the board of Scient’x, S.A. pursuant to an agreement called “Prêt de consommation d’action”; provided that upon amendment of such bylaws, such
“Prêt de consommation d’action” shall be automatically terminated and any such shares shall become subject to the pledge. 

6.12 Advances to Credit Parties. All advances or Investments by any Credit Party to or in another Credit Party shall be
evidenced by one or more promissory note(s) or loan agreements substantially in the forms attached as Schedule 2.1.1 or otherwise by documents reasonably acceptable to Lender and such promissory note(s) and/or documents shall be pledged to Lender as
Collateral in the case of Borrower and pursuant to the relevant guarantee and security documentation with respect to other Credit Parties. Any advance or Investment to or in Surgiview, S.A.S. or Scient’x Australia Pty Ltd, shall be secured by a
first priority charge over the personal property of such entity. Except when the direct recipient of the advance is Surgiview, S.A.S. or Scient’x Australia Pty Ltd, the proceeds of such advances or Investments shall be funded into one or more
accounts over which Lender has a security interest. 
 6.13 Scient’x Italia S.r.l.; Scient’x Australia Pty
Ltd. (a) Within one hundred eighty (180) days after the Closing Date, (i) Scient’x Italia S.r.l. shall deliver to Lender an unconditional guaranty and security instruments and (ii) Scient’x, S.A. shall
deliver to Lender an agreement pledging the shares of Scient’x Italia S.r.l. owned by Scient’x, S.A., such documents in each case to be in form and substance reasonably acceptable to Lender, provided that if Lender has not received those
documents within such 180 day period, but Credit Parties are exercising commercially reasonable efforts to deliver them to Lender, then subject to the consent of Lender, not to be unreasonably withheld, Credit Parties may have an additional time
period, not to exceed 180 days, in which to cause those documents to be delivered.  
 (b) Within sixty
(60) days of the Closing Date, (i) Scient’x Australia Pty Ltd shall deliver to Lender an acknowledgement of this Agreement and a Perfection Certificate and (ii) Scient’x, S.A. shall deliver to Lender an agreement pledging
the shares of Scient’x Australia Pty Ltd. owned by Scient’x, S.A., such documents in each case to be in form and substance reasonably acceptable to Lender. 

(c) No Credit Party shall make any advance to, or Investment in, Scient’x Italia S.r.l. until Lender has received the documents set
forth in Section 6.13(a). No Credit Party shall make any advance to, or Investment in, Scient’x Australia Pty Ltd until Lender has received the documents set forth in Section 6.13(b). Failure to deliver the documents set forth in this
Section 6.13 within the period(s) specified shall constitute an Event of Default. 
 6.14 Further Assurances. Each
Credit Party shall execute any further instruments and take further action as Lender reasonably requests in writing to perfect or continue Lender’s Lien in the Collateral or to effect the purposes of this Agreement and the other Loan Documents.

 7 NEGATIVE COVENANTS 

7.1 Dispositions. No Credit Party shall convey, sell, lease, transfer or otherwise dispose of (collectively,
“Transfer”), all or any part of its business or property, except for Transfers (a) of Inventory in the ordinary course of business; (b) of Inventory among Credit Parties for the purpose of reducing costs or enhancing
deliveries to customers; (c) of worn-out or obsolete Equipment; (d) in connection with Permitted Liens and Permitted Investments; and (e) of non-exclusive licenses for the use of the property of any Credit Party or its Subsidiaries in
the ordinary course of business. 
  

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 7.2 Changes in Business, Management, Control, or Business Locations. Without the
prior written consent of Lender, (a) no Credit Party shall engage in any business other than the businesses currently engaged in by such Credit Party, as applicable, or reasonably related thereto; (b) no Credit Party shall liquidate or
dissolve; or (c) no Credit Party shall (i) have a Key Person Event or (ii) permit or shall suffer any Change in Control. Without at least ten (10) days prior written notice to Lender, no Credit Party shall: (1) add any new
offices or business locations, including warehouses (unless such new offices or business locations contain less than One Hundred Thousand Dollars ($100,000) in such Credit Party’s assets or property), (2) change its jurisdiction of
organization, (3) change its organizational structure or type, (4) change its legal name, or (5) change any organizational number (if any) assigned by its jurisdiction of organization. 

7.3 Mergers or Acquisitions. Without the prior written consent of Lender, no Credit Party shall merge or consolidate with
any other Person, or acquire all or substantially all of the capital stock or property of another Person, provided that a Subsidiary may merge or consolidate into another Subsidiary or into another Credit Party. 

7.4 Indebtedness. Without the prior consent of Lender, no Credit Party shall create, incur, assume, or be liable for any
Indebtedness, or permit any Subsidiary to do so, other than Permitted Indebtedness. 
 7.5 Encumbrance. Except for
Permitted Liens, (a) no Credit Party shall create, incur, allow, or suffer any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts; (b) Borrower shall not permit any Collateral
not to be subject to the first priority security interest granted herein; and (c) no Credit Party shall enter into any agreement, document, instrument or other arrangement (except with or in favor of Lender) with any Person that directly or
indirectly prohibits or has the effect of prohibiting any Credit Party from assigning, mortgaging, pledging, granting a security interest in or upon, or encumbering any Credit Party’s property. 

7.6 Maintenance of Collateral Accounts. No Credit Party shall maintain any Collateral Account except pursuant to the terms of
Section 6.6 hereof. 
 7.7 Distributions; Investments. Without the prior consent of Lender, no Credit Party shall
(a) pay any dividends or make any distribution or payment or redeem, retire or purchase any capital stock other than Permitted Distributions; or (b) directly or indirectly acquire or own any Person, or make any Investment in any Person,
other than Permitted Investments. 
 7.8 Transactions with Affiliates. No Credit Party shall enter into or permit to
exist any material transaction with any Affiliate of any Credit Party except for transactions contemplated by the Loan Documents (including as permitted under Section 7.1) and transactions that are in the ordinary course of business, upon fair
and reasonable terms (when viewed in the context of any series of transactions of which it may be a part, if applicable). 

7.9 Subordinated Debt. No Credit Party shall (a) make or permit any payment on any Subordinated Debt, except under the terms
of the subordination, intercreditor, or other similar agreement to which such Subordinated Debt is subject, or (b) amend any provision in any document relating to the Subordinated Debt which would increase the amount thereof or adversely affect
the subordination thereof to Obligations owed to Lender. 
 7.10 Compliance. No Credit Party shall become an
“investment company” or a company controlled by an “investment company”, under the Investment Company Act of 1940, as amended, or undertake as one of its important activities extending credit to purchase or carry margin stock (as
defined in Regulation U of the Board of Governors of the Federal Reserve System), or use the proceeds of any Credit Extension for that purpose. No Credit Party shall (i) fail to meet the minimum funding requirements of ERISA, permit a
Reportable Event or Prohibited Transaction, as defined in ERISA, to occur, (ii) fail to comply with the Federal Fair Labor Standards Act or violate in any material respect any other material law or regulation, (iii) withdraw from
participation in, permit partial or complete termination of, or permit the occurrence of any other event with respect to, any present pension, profit sharing and deferred compensation plan, in all cases where such failure or withdrawal could
reasonably be expected to result in a Material Adverse Change. 
  

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 7.11 Indebtedness Payments. Except for regularly scheduled payments made in respect
of the financial, equipment, automobile and other leases set forth in the Perfection Certificates, no Credit Party shall (i) prepay, redeem, purchase, defease or otherwise satisfy in any manner prior to the scheduled repayment thereof any
Indebtedness for borrowed money (other than amounts due under this Agreement or due Lender) or lease obligations, (ii) amend, modify or otherwise change the terms of any Indebtedness for borrowed money or lease obligations so as to accelerate
the scheduled repayment thereof or (iii) repay any notes to officers, directors or shareholders. 
 8 EVENTS OF
DEFAULT 
 Any one of the following shall constitute an event of default (an “Event of Default”) under
this Agreement: 
 8.1 Payment Default. Borrower fails to (a) make any payment of principal or interest on any
Credit Extension on its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable (which three (3) day grace period shall not apply to payments due on the Maturity Date).

 8.2 Covenant Default. 

(a) Any Credit Party fails or neglects to perform any obligation in Section 6.2, 6.3, 6.4, 6.6, 6.7, 6.11, 6.12 or 6.13 or violates
any covenant in Section 7; or 
 (b) Any Credit Party fails or neglects to perform, keep, or observe any other term,
provision, condition, covenant or agreement contained in this Agreement or any Loan Document to which it is a party, and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or
agreement that can be cured, has failed to cure the default within fifteen (15) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the fifteen (15) day period or cannot after
diligent attempts by such Credit Party be cured within such fifteen (15) day period, and such default is likely to be cured within a reasonable time, then such Credit Party shall have an additional period (which shall not in any case exceed
thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to cure the default shall not be deemed an Event of Default (provided that, as to any guaranty provided by a Guarantor, the cure period, if
any, will be as stated in the guaranty, as specified in Section 8.10, and not the fifteen (15) days specified in this Section); 

8.3 Material Adverse Change. A Material Adverse Change occurs; 

8.4 Attachment; Levy; Restraint on Business. (a) (i) The service of process seeking to attach, by trustee or similar
process, any funds in excess of One Hundred Thousand Dollars ($100,000) of a Credit Party or of any entity under control of a Credit Party (including a Subsidiary) on deposit with any of the banks or financial institutions disclosed in the
Perfection Certificates, or (ii) a notice of lien, levy, or assessment is filed against any of a Credit Party’s assets having a fair market value in excess of One Hundred Thousand Dollars ($100,000) by any government agency, and the same
under subclauses (a)(i) and (ii) hereof are not, within thirty (30) days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise) and the Borrower shall not, within such thirty (30) day
period, or such longer period during which execution of the same shall have been stayed, appeal therefrom and cause the execution thereof to be stayed during such appeal; and (b) (i) any material portion of a Credit Party’s assets is
attached, seized, levied on, or comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents a Credit Party from conducting any part of its business, and the same under (b)(i) and (ii) hereof
shall not have been discharged, bonded or a stay of execution thereof shall not have been procured, within thirty (30) days from the date of entry thereof and the Borrower shall not, within such thirty (30) day period, or such longer
period during which execution of the same shall have been stayed, appeal therefrom and cause the execution thereof to be stayed during such appeal; 

8.5 Insolvency. (a) Any Credit Party is unable to pay its debts (including trade debts but excluding uncalled obligations of
any Credit Party to Lender under any guaranty issued to Lender) as they become due; (b) any Credit Party otherwise becomes insolvent under the laws of the applicable jurisdiction; (c) any Credit Party begins an Insolvency Proceeding; or
(d) an Insolvency Proceeding is begun against any Credit Party and not dismissed or stayed within thirty (30) days; 
  

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 8.6 Other Agreements. There is a default in any agreement to which any Credit Party
is a party with a third party or parties resulting in a right, by such third party or parties, whether or not exercised, to accelerate the maturity of any Indebtedness in an amount in excess of One Hundred Thousand Dollars ($100,000) or that could
reasonably be expected to result in a Material Adverse Change; 
 8.7 Judgments. One or more judgments, orders, or
decrees for the payment of money in an amount, individually or in the aggregate, of at least One Hundred Thousand Dollars ($100,000) (not covered by independent third-party insurance as to which liability has not been denied by such insurance
carrier) shall be rendered against any Credit Party and shall remain unsatisfied, unvacated, or unstayed for a period of thirty (30) days after the entry thereof (provided that no Credit Extensions will be made prior to the satisfaction,
vacation, or stay of such judgment, order, or decree); 
 8.8 Misrepresentations. Any Credit Party or any Person acting
for such Credit Party makes any representation, warranty, or other statement now or later in this Agreement, any Loan Document or in any writing delivered to Lender or to induce Lender to enter this Agreement or any Loan Document, and such
representation, warranty, or other statement is incorrect in any material respect when made; 
 8.9 Subordinated Debt. A
default or breach occurs under any agreement between any Credit Party and any creditor of such Credit Party that signed a subordination, intercreditor, or other similar agreement with Lender, or any creditor that has signed such an agreement with
Lender breaches any terms of such agreement; 
 8.10 Guaranty. (a) Any guaranty of any Obligations terminates or
ceases for any reason to be in full force and effect or (b) any Guarantor does not perform any obligation or covenant under any guaranty of the Obligations and such failure continues beyond the grace or cure period, if any, specified in such
guaranty. 
 8.11 Governmental Approvals. Any Governmental Approval shall have been (a) revoked, rescinded,
suspended, modified in an adverse manner or not renewed in the ordinary course for a full term or (b) subject to any decision by a Governmental Authority that designates a hearing with respect to any applications for renewal of any of such
Governmental Approval or that could result in the Governmental Authority taking any of the actions described in clause (a) above that could reasonably be expected to result in a Material Adverse Change. 

9 LENDER’S RIGHTS AND REMEDIES 

9.1 Rights and Remedies. While an Event of Default occurs and continues Lender may, without notice or demand, do any or all of the
following: 
 (a) declare all Obligations immediately due and payable (but if an Event of Default described in Section 8.5
occurs all Obligations are immediately due and payable without any action by Lender); 
 (b) stop advancing money or extending
credit for Borrower’s benefit under this Agreement or under any other agreement between Borrower and Lender; 
 (c) settle
or adjust disputes and claims directly with Account Debtors for amounts on terms and in any order that Lender considers advisable, notify any Person owing any Credit Party money of Lender’s security interest in such funds, and verify the amount
of such account; 
 (d) make any payments and do any acts it considers necessary or reasonable to protect the Collateral and/or
its security interest in the Collateral. Borrower shall assemble the Collateral if Lender requests and make it available at a place to be designated by Lender that is commercially reasonable. Lender may enter premises where the Collateral is
located, take and maintain possession of any part of the Collateral, and pay, purchase, contest, or compromise any Lien which appears to be prior or superior to its security interest and pay all expenses incurred. Borrower grants Lender a license to
enter and occupy any of its premises, without charge, to exercise any of Lender’s rights or remedies; 
  

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 (e) apply to the Obligations any (i) balances and deposits of any Credit Party over
which it has control, or (ii) any amount held by Lender owing to or for the credit or the account of any Credit Party; 

(f) ship, reclaim, recover, store, finish, maintain, repair, prepare for sale, advertise for sale, and sell the Collateral. Borrower
hereby grants Lender, effective for the duration of any Event of Default and to the extent permitted by law, a non-exclusive, royalty-free license or other right to use, without charge, each Credit Party’s labels, patents, copyrights, mask
works, rights of use of any name, trade secrets, trade names, trademarks, service marks, and advertising matter, or any similar property as it pertains to the Collateral, in completing production of, advertising for sale, and selling any Collateral
and, in connection with Lender’s exercise of its rights under this Section and for no other purpose; 
 (g) deliver a
notice of exclusive control, any entitlement order, or other directions or instructions pursuant to any Control Agreement or similar agreements providing control of any Collateral; 

(h) demand and receive possession of Borrower’s Books; and 

(i) exercise all rights and remedies available to Lender under the Loan Documents or at law or equity, including all remedies provided
under the Code (including disposal of the Collateral pursuant to the terms thereof). 
 9.2 Power of Attorney. Borrower
irrevocably appoints Lender as its lawful attorney-in-fact, exercisable upon the occurrence and during the continuance of an Event of Default, to: (a) endorse Borrower’s name on any checks or other forms of payment or security;
(b) sign Borrower’s name on any invoice or bill of lading for any Account or drafts against Account Debtors; (c) settle and adjust disputes and claims about the Accounts directly with Account Debtors, for amounts and on terms Lender
determines reasonable; (d) make, settle, and adjust all claims under Borrower’s insurance policies; (e) pay, contest or settle any Lien, charge, encumbrance, security interest, and adverse claim in or to the Collateral, or any
judgment based thereon, or otherwise take any action to terminate or discharge the same; and (f) transfer the Collateral into the name of Lender or a third party as the Code permits. Borrower appoints Lender as its lawful attorney-in-fact to
sign Borrower’s name on any documents necessary to perfect or continue the perfection of Lender’s security interest in the Collateral regardless of whether an Event of Default has occurred until all Obligations have been satisfied in full
and Lender is under no further obligation to make Credit Extensions hereunder. Lender’s foregoing appointment as Borrower’s attorney in fact, and all of Lender’s rights and powers, coupled with an interest, are irrevocable until all
Obligations have been fully repaid and performed and Lender’s obligation to provide Credit Extensions terminates. 
 9.3
Protective Payments. If any Credit Party fails to obtain the insurance called for by Section 6.5 or fails to pay any premium thereon or fails to pay any other amount which Borrower is obligated to pay under this Agreement or any other Loan
Document, Lender may obtain such insurance or make such payment, and all amounts so paid by Lender are Lender Expenses and immediately due and payable, bearing interest at the then highest applicable rate, and secured by the Collateral. Lender will
make reasonable efforts to provide Borrower with notice of Lender obtaining such insurance at the time it is obtained or within a reasonable time thereafter. No payments by Lender are deemed an agreement to make similar payments in the future or
Lender’s waiver of any Event of Default. 
 9.4 Application of Payments and Proceeds. No Credit Party shall have any
right to specify the order or the accounts to which Lender shall allocate or apply any payments required to be made by any Credit Party to Lender or otherwise received by Lender under this Agreement when any such allocation or application is not
specified elsewhere in this Agreement. If an Event of Default has occurred and is continuing, Lender may apply any funds in its possession, whether from Borrower account balances, payments, proceeds realized as the result of any collection of
Accounts or other disposition of the Collateral, or otherwise, to the Obligations in such order as Lender shall determine in its sole discretion. Each Credit Party shall remain liable to Lender for any deficiency. If Lender, in its good faith
business judgment, directly or indirectly enters into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Lender shall have the option, exercisable at any time, of either reducing the Obligations by the
principal amount of the purchase price or deferring the reduction of the Obligations until the actual receipt by Lender of cash therefor. 
  

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 9.5 Lender’s Liability for Collateral. Lender shall not be liable or responsible
for: (a) the safekeeping of the Collateral; (b) any loss or damage to the Collateral; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. The Credit
Parties bear all risk of loss, damage or destruction of the Collateral. 
 9.6 No Waiver; Remedies Cumulative.
Lender’s failure, at any time or times, to require strict performance by any Credit Party of any provision of this Agreement or any other Loan Document shall not waive, affect, or diminish any right of Lender thereafter to demand strict
performance and compliance herewith or therewith. No waiver hereunder shall be effective unless signed by Lender and then is only effective for the specific instance and purpose for which it is given. Lender’s rights and remedies under this
Agreement and the other Loan Documents are cumulative. Lender has all rights and remedies provided under the Code, by law, or in equity. Lender’s exercise of one right or remedy is not an election, and Lender’s waiver of any Event of
Default is not a continuing waiver. Lender’s delay in exercising any remedy is not a waiver, election, or acquiescence. 

9.7 Demand Waiver. Borrower, for itself an on behalf of each other Credit Party, waives demand, notice of default or dishonor,
notice of payment and nonpayment, notice of any default, nonpayment at maturity, release, compromise, settlement, extension, or renewal of accounts, documents, instruments, chattel paper, and guarantees held by Lender on which any Credit Party is
liable. 
 10 NOTICES 

All notices, consents, requests, approvals, demands, or other communication by any party to this Agreement or any other Loan Document must
be in writing and shall be deemed to have been validly served, given, or delivered: (a) upon the earlier of actual receipt and three (3) Business Days after deposit in the U.S. mail, first class, registered or certified mail return receipt
requested, with proper postage prepaid; (b) upon transmission, when sent by facsimile transmission or electronic mail transmission, provided that a transmission by electronic mail shall be deemed to have been validly served, given, or delivered
only if notice is also delivered by one of the methods of delivery set forth in Sections 10(a), (c) or (d) within two (2) Business Days of such email transmission; (c) one (1) Business Day after deposit with a reputable
overnight courier with all charges prepaid; or (d) when delivered, if hand-delivered by messenger, all of which shall be addressed to the party to be notified and sent to the address, facsimile number, or email address indicated below. Lender
or Borrower may change its mailing or electronic mail address or facsimile number by giving the other party written notice thereof in accordance with the terms of this Section 10. 

 

			
	If to Borrower:	  	SCIENT’X USA, INC.
		  	900 Airport Road, Suite 3B
		  	West Chester, PA 19380
		  	Attn: Chief Financial Officer
		  	Fax: (610) 840 6295
		  	Email: A.Custin@scientxusa.com

  

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	If to Lender:	  	OXFORD FINANCE CORPORATION
		  	133 N. Fairfax Street
		  	Alexandria, VA 22314
		  	Attn: Tim A. Lex, Chief Operating Officer
		  	Fax: (703) 519-5225
		  	Email: tlex@oxfordfinance.com

 11
CHOICE OF LAW, VENUE, JURY TRIAL WAIVER 
 New York law governs the Loan Documents without regard to principles of
conflicts of law. Borrower and Lender each submit to the exclusive jurisdiction of the State and Federal courts in the Borough of Manhattan, New York; provided, however, that nothing in this Agreement shall be deemed to operate to preclude Lender
from bringing suit or taking other legal action in any other jurisdiction to realize on the Collateral or any other security for the Obligations, or to enforce a judgment or other court order in favor of Lender. Borrower submits and consents in
advance to such jurisdiction in any action or suit commenced in any such court, and Borrower waives any objection that it may have based upon lack of personal jurisdiction, improper venue, or forum non conveniens and consents to the granting of such
legal or equitable relief as is deemed appropriate by such court. Borrower waives personal service of the summons, complaints, and other process issued in such action or suit and agrees that service of such summons, complaints, and other process may
be made by registered or certified mail addressed to Borrower at the address set forth in Section 10 of this Agreement and that service so made shall be deemed completed upon the earlier to occur of Borrower’s actual receipt thereof or
three (3) days after deposit in the U.S. mails, proper postage prepaid. 
 TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, BORROWER AND LENDER EACH WAIVE THEIR RIGHT TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION ARISING OUT OF OR BASED UPON THIS AGREEMENT, THE LOAN DOCUMENTS OR ANY CONTEMPLATED TRANSACTION, INCLUDING CONTRACT, TORT, BREACH OF DUTY AND ALL OTHER
CLAIMS. THIS WAIVER IS A MATERIAL INDUCEMENT FOR BOTH PARTIES TO ENTER INTO THIS AGREEMENT. EACH PARTY HAS REVIEWED THIS WAIVER WITH ITS COUNSEL. 

12 GENERAL PROVISIONS 

12.1 Successors and Assigns. This Agreement binds and is for the benefit of the successors and permitted assigns of each party.
Borrower may not assign this Agreement or any rights or obligations under it without Lender’s prior written consent (which may be granted or withheld in Lender’s discretion). Lender has the right, without the consent of or notice to
Borrower, to sell, transfer, negotiate, or grant participation in all or any part of, or any interest in, Lender’s obligations, rights, and benefits under this Agreement and the other Loan Documents. 

12.2 Indemnification. Borrower shall indemnify, defend and hold Lender and its directors, officers, employees, agents, attorneys,
or any other Person affiliated with or representing Lender (each, an “Indemnified Person”) harmless against: (a) all obligations, demands, claims, and liabilities (collectively, “Claims”) asserted by any other
party in connection with the transactions contemplated by the Loan Documents; and (b) all losses or Lender Expenses incurred, or paid by such Indemnified Person from, following, or arising from transactions between Lender and Borrower, except
for Claims and/or losses directly caused by such Indemnified Person’s gross negligence or willful misconduct. 
 12.3
Limitation of Liability. Lender shall in no case be liable for any punitive, special, indirect or consequential damages relating to this Agreement or any other Loan Document or arising out of its activities in connection herewith or
therewith. 
 12.4 Time of Essence. Time is of the essence for the performance of all Obligations in this Agreement.

 12.5 Severability of Provisions. Each provision of this Agreement is severable from every other provision in
determining the enforceability of any provision. 
  

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 12.6 Correction of Loan Documents. Lender may correct patent errors and fill in any
blanks in this Agreement and the other Loan Documents consistent with the agreement of the parties. 
 12.7 Amendments in
Writing; Integration. All amendments to this Agreement must be in writing and signed by both Lender and Borrower. This Agreement and the Loan Documents represent the entire agreement about this subject matter and supersede prior negotiations or
agreements. All prior agreements, understandings, representations, warranties, and negotiations between the parties about the subject matter of this Agreement and the Loan Documents merge into this Agreement and the Loan Documents. 

12.8 Counterparts. This Agreement may be executed in any number of counterparts and by different parties on separate counterparts,
each of which, when executed and delivered, are an original, and all taken together, constitute one Agreement. 
 12.9
Survival. All covenants, representations and warranties made in this Agreement continue in full force until this Agreement has terminated pursuant to its terms and all Obligations (other than inchoate indemnity obligations and any other
obligations which, by their terms, are to survive the termination of this Agreement) have been satisfied. The obligation of Borrower in Section 12.2 to indemnify Lender shall survive until the statute of limitations with respect to such claim
or cause of action shall have run. 
 12.10 Confidentiality. The terms and conditions set forth in the Confidentiality
Agreement between Lender and Borrower, dated March 9, 2008 and attached hereto as Exhibit F shall govern the use and disclosure by Lender of any of the Credit Parties’ confidential information in connection with this Agreement. Lender may
use confidential information regarding the terms of this Agreement and any Credit Party’s financial results for the development of client databases, reporting purposes and market analysis so long as Lender does not disclose Borrower’s
identity or the identity of any person associated with Borrower unless otherwise expressly permitted by such Confidentiality Agreement. The provisions of the immediately preceding sentence shall survive the termination of this Agreement. 

12.11 Attorneys’ Fees, Costs and Expenses. In any action or proceeding between Borrower and Lender arising out of or relating
to the Loan Documents, the prevailing party shall be entitled to recover its reasonable attorneys’ fees and other costs and expenses incurred, in addition to any other relief to which it may be entitled. 

13 DEFINITIONS 

13.1 Definitions. As used in this Agreement, the following terms have the following meanings: 

“Account” is any “account” as defined in the Code with such additions to such term as may hereafter be made,
and includes, without limitation, all accounts receivable and other sums owing to Borrower. 
 “Account
Debtor” is any “account debtor” as defined in the Code with such additions to such term as may hereafter be made. 

“Affiliate” of any Person is a Person that owns or controls directly or indirectly the Person, any Person that controls
or is controlled by or is under common control with the Person, and each of that Person’s senior executive officers, directors, partners and, for any Person that is a limited liability company, that Person’s managers and members.

 “Agreement” is defined in the preamble hereof. 

“Amortization Date” means January 1, 2010. 

“Borrower” is defined in the preamble hereof. 

 

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 “Borrower’s Books” are all Borrower’s books and records including
ledgers, federal and state tax returns, records regarding Borrower’s assets or liabilities, the Collateral, business operations or financial condition, including records of Board minutes, and all computer programs or storage or any equipment
containing such information. 
 “Borrowing Resolutions” are, with respect to any Person, those resolutions
adopted by such Person’s Board of Directors or similar governing body and delivered by such Person to Lender approving the Loan Documents to which such Person is a party and the transactions contemplated thereby, together with a certificate
executed by its secretary on behalf of such Person certifying that (a) such Person has the authority to execute, deliver, and perform its obligations under each of the Loan Documents to which it is a party, (b) that attached as Exhibit A
to such certificate is a true, correct, and complete copy of the resolutions then in full force and effect authorizing and ratifying the execution, delivery, and performance by such Person of the Loan Documents to which it is a party, (c) the
name(s) of the Person(s) authorized to execute the Loan Documents on behalf of such Person, together with a sample of the true signature(s) of such Person(s), and (d) that Lender may conclusively rely on such certificate unless and until such
Person shall have delivered to Lender a further certificate canceling or amending such prior certificate, and if such Person is a foreign corporation such similar resolutions and certificates as may be required in the applicable foreign
jurisdiction. 
 “Business Day” is any day that is not a Saturday, Sunday or a recognized public holiday in the
United States or France, or a day on which Lender is closed. 
 “Cash Equivalents” means (a) marketable
direct obligations issued or unconditionally guaranteed by the United States or any agency or any State thereof having maturities of not more than one (1) year from the date of acquisition; (b) commercial paper maturing no more than one
(1) year after its creation and having the highest rating from either Standard & Poor’s Ratings Group or Moody’s Investors Service, Inc.; (c) Lender’s certificates of deposit issued maturing no more than one
(1) year after issue; and (d) money market funds at least ninety-five percent (95%) of the assets of which constitute Cash Equivalents of the kinds described in clauses (a) through (c) of this definition. 

“Change in Control” is a transaction in which any “person” or “group” (within the
meaning of Section 13(d) and 14(d)(2) of the Securities Exchange Act of 1934, as amended) becomes the “beneficial owner” (as defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended), directly or indirectly,
of greater than 50% of the shares of all classes of stock then outstanding of Borrower ordinarily entitled to vote in the election of directors. 

“Closing Date” is the date Lender executes this Agreement as indicated on the signature page hereof. 

“Code” is the Uniform Commercial Code, as the same may, from time to time, be enacted and in effect in the State of New
York; provided, that, to the extent that the Code is used to define any term herein or in any Loan Document and such term is defined differently in different Articles or Divisions of the Code, the definition of such term contained in Article or
Division 9 shall govern; provided further, that in the event that, by reason of mandatory provisions of law, any or all of the attachment, perfection, or priority of, or remedies with respect to, Lender’s Lien on any Collateral is governed by
the Uniform Commercial Code in effect in a jurisdiction other than the State of New York, the term “Code” shall mean the Uniform Commercial Code as enacted and in effect in such other jurisdiction solely for purposes on the
provisions thereof relating to such attachment, perfection, priority, or remedies and for purposes of definitions relating to such provisions. 

“Collateral” is any and all properties, rights and assets of Borrower described on Exhibit A. 

“Collateral Account” is any Deposit Account, Securities Account, or Commodity Account. 

“Commodity Account” is any “commodity account” as defined in the Code with such additions to such term as may
hereafter be made. 
 “Compliance Certificate” is that certain certificate in the form attached hereto as
Exhibit C. 
  

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 “Contingent Obligation” is, for any Person, any direct or indirect
liability, contingent or not, of that Person for (a) any indebtedness, lease, dividend, letter of credit or other obligation of another such as an obligation directly or indirectly guaranteed, endorsed, co-made, discounted or sold with recourse
by that Person, or for which that Person is directly or indirectly liable; (b) any obligations for undrawn letters of credit for the account of that Person; and (c) all obligations from any interest rate, currency or commodity swap
agreement, interest rate cap or collar agreement, or other agreement or arrangement designated to protect a Person against fluctuation in interest rates, currency exchange rates or commodity prices; but “Contingent Obligation” does not
include endorsements in the ordinary course of business. The amount of a Contingent Obligation is the stated or determined amount of the primary obligation for which the Contingent Obligation is made or, if not determinable, the maximum reasonably
anticipated liability for it determined by the Person in good faith; but the amount may not exceed the maximum of the obligations under any guarantee or other support arrangement. 

“Control Agreement” is any control agreement entered into among the depository institution at which Borrower maintains a
Deposit Account or the securities intermediary or commodity intermediary at which Borrower maintains a Securities Account or a Commodity Account, Borrower, and Lender pursuant to which Lender obtains control (within the meaning of the Code) over
such Deposit Account, Securities Account, or Commodity Account. 
 “Credit Extension” is the Growth Capital
Advance, or any other extension of credit by Lender for Borrower’s benefit. 
 “Credit Party” means each
of Borrower, Scient’x Groupe, S.A., Scient’x, S.A., Surgiview, S.A.S., Scient’x Italia Srl, Scient’x (UK) Limited and Scient’x Australia Pty Ltd., and the direct or indirect Subsidiaries of each. 

“Default Rate” is defined in Section 2.3(b). 

“Deposit Account” is any “deposit account” as defined in the Code with such additions to such term as may
hereafter be made. 
 “Designated Deposit Account” is Borrower’s deposit account, account number
3300663593, maintained with Silicon Valley Bank. 
 “Dollars,” “dollars” and
“$” each mean lawful money of the United States. 
 “Equipment” is all
“equipment” as defined in the Code with such additions to such term as may hereafter be made, and includes without limitation all machinery, fixtures, goods, vehicles (including motor vehicles and trailers), and any interest in any of the
foregoing. 
 “ERISA” is the Employee Retirement Income Security Act of 1974, as amended, and its
regulations. 
 “Event of Default” is defined in Section 8. 

“Final Payment” means a fee (in addition to and not a substitution for any other payment due hereunder) in the amount of
Three Hundred Seventy Five Thousand Dollars ($375,000). 
 “Funding Date” is the date on which the Growth
Capital Advance is made to or on account of Borrower. 
 “General Intangibles” is all “general
intangibles” as defined in the Code in effect on the date hereof with such additions to such term as may hereafter be made, and includes without limitation, all copyright rights, copyright applications, copyright registrations and like
protections in each work of authorship and derivative work, whether published or unpublished, any patents, trademarks, service marks and, to the extent permitted under applicable law, any applications therefor, whether registered or not, any trade
secret rights, including any rights to unpatented inventions, payment intangibles, royalties, contract rights, goodwill, franchise agreements, purchase orders, customer lists, route lists, telephone numbers, domain names, claims, income and other
tax refunds, security and other deposits, options to purchase or sell real or personal property, rights in all litigation presently or hereafter pending (whether in contract, tort or otherwise), insurance policies (including without limitation key
man, property damage, and business interruption insurance), payments of insurance and rights to payment of any kind. 
  

 - 19 - 

 “Governmental Approval” is any consent, authorization, approval, order,
license, franchise, permit, certificate, accreditation, registration, filing or notice, of, issued by, from or to, or other act by or in respect of, any Governmental Authority. 

“Governmental Authority” is any nation or government, any state or other political subdivision thereof, any agency,
authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative functions of or pertaining to government, any securities exchange and any
self-regulatory organization. 
 “Growth Capital Advance” is the cash advance made under Section 2.1.1(a).

 “Guarantor” is any present or future guarantor of the Obligations, including Scient’x Groupe, S.A.,
Scient’x, S.A., Scient’x Italia S.r.l., and Scient’x (UK) Limited. 
 “IFRS” means the
International Financial Reporting Standards maintained by the International Accounting Standards Board which are in force from time to time. 

“Indebtedness” is (a) indebtedness for borrowed money or the deferred price of property or services, such as
reimbursement and other obligations for surety bonds and letters of credit, (b) obligations evidenced by notes, bonds, debentures or similar instruments, (c) capital lease obligations, and (d) Contingent Obligations. 

“Indemnified Person” is defined in Section 12.2. 

“Insolvency Proceeding” is any proceeding by or against any Person under the United States Bankruptcy Code, or any other
bankruptcy or insolvency law, including assignments for the benefit of creditors, compositions, extensions generally with its creditors, or proceedings seeking reorganization, arrangement, or other relief. 

“Interest Only Period” means the period of time commencing on the Funding Date through the day before the Amortization
Date. 
 “Inventory” is all “inventory” as defined in the Code in effect on the date hereof with such
additions to such term as may hereafter be made, and includes without limitation all merchandise, raw materials, parts, supplies, packing and shipping materials, work in process and finished products, including without limitation such inventory as
is temporarily out of Borrower’s custody or possession or in transit and including any returned goods and any documents of title representing any of the above. 

“Investment” is any beneficial ownership interest in any Person (including stock, partnership interest or other
securities), and any loan, advance or capital contribution to any Person. 
 “Key Person Event” is any
circumstance other than death or disability that results in the Chief Executive Officer or the Chief Financial Officer and Chief Operating Officer of Scient’x, S.A. not being actively engaged in the management of Scient’x, S.A., provided
that a Key Person Event shall not be deemed to occur if a replacement for the Chief Executive Officer or Chief Financial Officer and Chief Operating Officer is hired and approved by the Board of Directors of Scient’x, S.A. within one hundred
and twenty (120) days of the former Chief Executive Officer or Chief Financial Officer and Chief Operating Officer ceasing his or her role with Scient’x, S.A. 

“Lender” is defined in the preamble hereof. 

“Lender Expenses” are all reasonable and documented audit fees and expenses, costs, and expenses (including
reasonable and documented attorneys’ fees and expenses) for preparing, amending, negotiating, administering, defending and enforcing the Loan Documents (including, without limitation, those incurred in connection with appeals or Insolvency
Proceedings) or otherwise incurred with respect to Borrower. 
  

 - 20 - 

 “Lien” is a claim, mortgage, deed of trust, levy, charge, pledge, security
interest or other encumbrance of any kind, whether voluntarily incurred or arising by operation of law or otherwise against any property. 

“Loan Documents” are, collectively, this Agreement, the Perfection Certificates, the Promissory Note, any other note, or
notes or guaranties executed by Borrower or any Credit Party, and any other present or future agreement between any Credit Party and/or for the benefit of Lender in connection with this Agreement, all as amended, restated, or otherwise modified.

 “Material Adverse Change” is (a) a material impairment in the perfection or priority of Lender’s
Lien in the Collateral or in the value of such Collateral; (b) a material adverse change in the business, operations, or condition (financial or otherwise) of Borrower, Scient’x Groupe, S.A., Scient’x, S.A. or Surgiview, S.A.S.; or
(c) a material adverse change in the business, operations, or condition (financial or otherwise) of any Credit Party not named in clause (b) that, in the reasonable judgment of Lender, materially impairs the prospect of repayment of any
portion of the Obligations. 
 “Maturity Date” is June 1, 2012, or such earlier date as the Growth Capital
Advance or any portion of the Obligations is accelerated, whether by prepayment or otherwise. 
 “Obligations”
are Borrower’s obligation to pay when due any debts, principal, interest, Lender Expenses and other amounts that Borrower owes to Lender from time to time under the Loan Documents or otherwise, including, without limitation, all obligations
relating to letters of credit (including reimbursement obligations for drawn and undrawn letters of credit), cash management services, and foreign exchange contracts, if any, and including interest accruing after Insolvency Proceedings begin and
debts, liabilities, or obligations of any Credit Party assigned to Lender. 
 “Operating Documents” are, for
any Person, such Person’s formation documents, as certified with the Secretary of State or other relevant competent body of such Person’s state of formation on a date that is no earlier than thirty (30) days prior to the Closing Date,
and, (a) if such Person is a corporation, its bylaws in current form, (b) if such Person is a limited liability company, its limited liability company agreement (or similar agreement), and (c) if such Person is a partnership, its
partnership agreement (or similar agreement), and (d) if such Person is a foreign corporation, its similar governing documents, each of the foregoing with all current amendments or modifications thereto. 

“Payment/Advance Form” is that certain form attached hereto as Exhibit B. 

“Perfection Certificates” means the completed certificates delivered to Lender prior to the Closing Date with respect to
the Credit Parties (other than Scient’x Australia Pty ltd.) and the completed certificate of Scient’x Australia Pty Ltd. to be delivered to Lender in accordance with Section 6.13. 

“Permitted Distributions” means: 

(a) purchases of capital stock from former employees, consultants and directors pursuant to repurchase agreements or other similar
agreements in an aggregate amount not to exceed One Hundred Thousand Dollars ($100,000) in any fiscal year, provided that at the time of such purchase no Event of Default has occurred and is continuing; 

(b) distributions or dividends consisting solely of a Credit Party’s capital stock; and 

(c) purchases of capital stock in connection with the exercise of stock options or stock appreciation rights by way of cashless exercise
in an aggregate amount not to exceed One Hundred Thousand Dollars ($100,000) or in connection with the satisfaction of withholding tax obligations. 

“Permitted Indebtedness” is: 

(a) Borrower’s Indebtedness to Lender under this Agreement and any other Loan Document; 

 

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 (b) any Indebtedness existing on the Closing Date and evidenced by the financial,
automobile, equipment and other leases shown on the Perfection Certificates; 
 (c) Subordinated Debt; 

(d) unsecured Indebtedness to trade creditors incurred in the ordinary course of business, including Indebtedness incurred in the
ordinary course of business with corporate credit cards of up to $100,000; 
 (e) Indebtedness consisting of interest rate,
currency, or commodity swap agreements, interest rate cap or collar agreements or arrangements designated to protect Borrower against fluctuations in interest rates, currency exchange rates, or commodity prices, in each case evidenced by agreements
approved by Lender, such approval not to be unreasonably withheld or delayed; 
 (f) Indebtedness that also constitutes a
Permitted Investment; 
 (g) Indebtedness secured by Permitted Liens; 

(h) capitalized leases and purchase money Indebtedness not to exceed One Hundred Thousand Dollars ($100,000) in the aggregate in any
fiscal year secured by Permitted Liens; and 
 (i) refinanced Permitted Indebtedness, provided that the amount of such
Indebtedness is not increased except by an amount equal to a reasonable premium or other reasonable amount paid in connection with such refinancing and by an amount equal to any existing, but unutilized, commitment thereunder. 

“Permitted Investments” are: 

(a) Investments existing on the Closing Date; 

(b)(i) marketable direct obligations issued or unconditionally guaranteed by the United States or its agencies or any State maturing
within one (1) year from its acquisition and (ii) commercial paper maturing no more than two (2) years after its creation and having the highest rating from either Standard & Poor’s Corporation or Moody’s Investors
Service, Inc.; 
 (c) Investments consisting of Collateral Accounts in the name of Borrower or any Subsidiary so long as Lender
has a first priority, perfected security interest in such Collateral Accounts; 
 (d) Cash Equivalents; 

(e) Investments consisting of interest rate, currency, or commodity swap agreements, interest rate cap or collar agreements or
arrangements designated to protect a Person against fluctuations in interest rates, currency exchange rates, or commodity prices and entered into in the ordinary course of business, in each case evidenced by agreements approved by Lender, such
approval not to be unreasonably withheld or delayed; 
 (f) Investments of cash by any Credit Party in any other Credit Party
made in accordance with Section 2.1.1(a), including the acquisition by Scient’x, S.A. of shares in its Subsidiaries not currently held by Scient’x, S.A.; 

(g) Investments (including debt obligations) received in connection with the bankruptcy or reorganization of customers or suppliers and
in settlement of delinquent obligations of, and other disputes with, customers or suppliers arising in the ordinary course of business; 

(h) Investments consisting of loans and advances to employees in an aggregate amount not to exceed $100,000. 

 

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 Notwithstanding the foregoing, Permitted Investments shall not include, and Borrower and
each Subsidiary is prohibited from purchasing, purchasing participations in, entering into any type of swap or other equivalent derivative transaction, or otherwise holding or engaging in any ownership interest in any type of debt instrument,
including, without limitation, any corporate or municipal bonds with a long-term nominal maturity for which the interest rate is reset through a dutch auction and more commonly referred to as an “auction rate security.” 

“Permitted Liens” are: 

(a)(i) Liens securing Permitted Indebtedness described under clause (b) of the definition of “Permitted Indebtedness” or
(ii) Liens arising under this Agreement or other Loan Documents; 
 (b) Liens for taxes, fees, assessments or other
government charges or levies, either not delinquent or being contested in good faith and for which the Person responsible for such maintains adequate reserves on its Books; provided that no notice of any such Lien has been filed or recorded under
the Internal Revenue Code of 1986, as amended, and the Treasury Regulations adopted thereunder; 
 (c) Liens (including purchase
money liens and liens with respect to capital leases) (i) on equipment acquired or held by Borrower incurred for financing such equipment, or (ii) existing on equipment when acquired; 

(d) Liens incurred in the extension, renewal or refinancing of the indebtedness secured by Liens described in (a) through (i), but
any extension, renewal or replacement Lien must be limited to the property encumbered by the existing Lien and the principal amount of the indebtedness it secures may not increase; 

(e) Liens arising from attachments or judgments, orders, or decrees in circumstances not constituting an Event of Default under Sections
8.4 and 8.7; 
 (f) easements, reservations, rights-of-way, restrictions, minor defects or irregularities in title and similar
charges or encumbrances affecting real property not reasonably expected to result in a Material Adverse Change; 
 (g) leases or
subleases of real property granted in the ordinary course of business if the leases and subleases do not prohibit granting the Lender a security interest in the Collateral; 

(h) non-exclusive licenses of intellectual property granted to third parties in the ordinary course of business; 

(i) Liens of carriers, materialmen, mechanics, landlords, warehousemen, suppliers, or other Persons that are possessory in nature arising
in the ordinary course of business so long as such Liens attach only to Inventory, securing liabilities in the aggregate amount not to exceed One Hundred and Fifty Thousand Dollars ($150,000) and which are not delinquent or remain payable without
penalty or which are being contested in good faith and by appropriate proceedings which proceedings have the effect of preventing the forfeiture or sale of the property subject thereto; 

(j) Liens to secure payment of up to $100,000 of workers’ compensation, employment insurance, old-age pensions, social security and
other like obligations incurred in the ordinary course of business (other than Liens imposed by ERISA); and 
 (k) the following
deposits, to the extent made in the ordinary course of business: deposits to secure the performance of bids, tenders or contracts (other than for the repayment of borrowed money) or to secure indemnity, performance or other similar bonds for the
performance of bids, tenders or contracts (other than for the repayment of borrowed money) or to secure statutory obligations (other than liens arising under ERISA) or surety or appeal bonds, or to secure indemnity, performance or other similar
bonds, securing an aggregate outstanding indebtedness of up to $250,000. 
  

 - 23 - 

 “Person” is any individual, sole proprietorship, partnership, limited
liability company, joint venture, company, trust, unincorporated organization, association, corporation, institution, public benefit corporation, firm, joint stock company, estate, entity or government agency. 

“Prepayment Fee” shall be an amount equal to: 

(i) for a prepayment made on or prior to May 29, 2010, six percent (6.0%) of the principal amount of the Growth Capital Advance
prepaid; 
 (ii) for a prepayment made after May 29, 2010, and on or prior to May 29, 2011, three percent
(3.0%) of the principal amount of the Growth Capital Advances prepaid; or 
 (iii) for a prepayment made after May 29,
2011, two percent (2.0%) of the principal amount of the Growth Capital Advances prepaid; 
 “Promissory
Note” means a Promissory Note in substantially the form attached hereto as Exhibit D. 
 “Registered
Organization” is any “registered organization” as defined in the Code with such additions to such term as may hereafter be made 

“Requirement of Law” is as to any Person, the organizational or governing documents of such Person, and any law
(statutory or common), treaty, rule or regulation or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person or any of its property or to which such Person or any of its
property is subject. 
 “Responsible Officer” is any of the Chief Executive Officer, President, Chief
Financial Officer and Controller of Scient’x, S.A.  
 “Securities Account” is any “securities
account” as defined in the Code with such additions to such term as may hereafter be made. 
 “Subordinated
Debt” is (a) Indebtedness incurred by Borrower subordinated to Borrower’s Indebtedness owed to Lender and which is reflected in a written agreement in a manner and form reasonably acceptable to Lender and approved by Lender in
writing, and (b) to the extent the terms of subordination do not change adversely to Lender, refinancings, refundings, renewals, amendments or extensions of any of the foregoing. 

“Subsidiary” means, with respect to any Person, any Person of which more than 50.0% of the voting stock or other equity
interests (in the case of Persons other than corporations) is owned or controlled directly or indirectly by such Person or one or more of Affiliates of such Person. 

“Transfer” is defined in Section 7.1. 

[Balance of Page Intentionally Left Blank] 

 

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 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as
of the Closing Date. 
  

			
	BORROWER:
	
	SCIENT’X USA, INC.
		
	By	 	 /s/ Oliver Burckhardt

	Name:	 	Oliver Burckhardt
	Title:	 	President and CEO

  

			
	LENDER:
	
	OXFORD FINANCE CORPORATION
		
	By	 	 /s/ Tim Lex

	Name:	 	Tim Lex
	Title:	 	COO

 The following Credit Parties acknowledge that
Borrower has made certain representations and warranties in Section 5 in respect of the Credit Parties, that the Credit Parties have agreed to take certain actions set forth in Section 6 and refrain from taking certain actions set forth in
Section 7, and that the occurrence of certain circumstances in respect of the Credit Parties set forth in Section 8 would constitute an Event of Default under the Agreement. 

 

			
	SCIENT’X GROUPE, S.A.
		
	By:	 	 /s/ Oliver Burckhardt

	Name:	 	 Oliver Burckhardt 

	Title:	 	 Director General

			
	SCIENT’X, S.A.
		
	By	 	 /s/ Oliver Burckhardt

	Name:	 	Oliver Burckhardt
	Title:	 	President and Director General
	
	SCIENT’X (UK) LIMITED
		
	By	 	 /s/ Oliver Burckhardt

	Name:	 	Oliver Burckhardt
	Title:	 	Director
	
	SURGIVIEW, S.A.S.
		
	By:	 	Scient’x, S.A.
	Title:	 	President
		
	By:	 	 /s/ Oliver Burckhardt

	Name:	 	Oliver Burckhardt
	Title:	 	President and Directeur General

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