Document:

EX-10.2

 Exhibit 10.2 
  

 
 39300 Civic Center Dr., Suite 140 

Fremont, CA 94538 
 September 14, 2015 

Steven Humphreys 
 39300 Civic Center Dr., Suite 140 

Fremont, CA 94538 
 Dear Steven: 

Identiv, Inc. (the “Company”) is pleased to offer you the position of Chief Executive effective as of September 9, 2015 (the
“Effective Date”). You shall report to the Company’s Board of Directors (“Board”) and will have duties and authority consistent with your position. You will remain a member of the Board (subject,
to stockholder approval of director nominees in the ordinary course). You agree that, during your service at the Company, you shall not engage in any other employment, consulting or other business which conflicts with or may reasonably be seen to
interfere with the full performance of your duties to the Company without the prior written consent of the Board. You and the Company acknowledge that you currently serve on the boards of two privately held companies that you have identified to the
Board and on one school board. The Board (with you abstaining) has approved your continued service on these boards. 
 Compensation, Benefits 

You will receive an initial base salary of $350,000 annualized, paid in accordance with the Company’s standard payroll procedures. In addition to your
salary, you will be eligible to earn a quarterly performance bonus of up to 25% of your base annual salary at the end of each fiscal quarter beginning with the fourth quarter of fiscal year 2015. Performance bonus criteria will be tied 50% to the
Company’s EBITDA results and 50% to stock performance, with specific thresholds to be established by the Compensation Committee of the Board within the first sixty (60) days of your employment for the quarterly periods ending on or before
December 31, 2016. The performance criteria for periods after December 31, 2016 will be determined each year. Performance achieved will be evaluated on a quarterly basis as set forth below. Your salary and incentive compensation will be
subject to periodic review and adjustment in accordance with Company practices. 
 Earned performance bonuses will be paid in cash (or, at your election at
the beginning of each applicable quarter or other period as provided in the procedures established by the Company, in common stock, provided the right to receive payment in common stock is subject to the limitations of the Company’s 2011
Incentive Compensation Plan or any successor equity plan (the “Plan”) and is subject to stockholder approval if necessary), which payment will be made within sixty (60) days after the end of the fiscal quarter in which such bonus is
earned. For any earned performance bonuses settled in the Company’s common stock, the Company will grant you a fully vested stock award, such award to be issued under the Plan and to cover that number of shares equal in value to 115% of the
earned bonus amount, calculated based on the average closing price of the Company’s common stock over the thirty (30) consecutive trading days immediately preceding the first day of the applicable bonus period. 

All compensation will be subject to authorized payroll deductions and required tax withholdings. All compensation due hereunder is intended to be exempt from
or compliant with Section 409A of the Internal Revenue Code (the “Code”), and all provisions hereof are to be interpreted and administered in a manner consistent with this intent. Any compensation or benefit due
hereunder that is subject to Section 

 
409A of the Code will not commence until the tax year in which any applicable release execution period expires and will be subject to delay as necessary to avoid a prohibited distribution under
Section 409A(a)(2) of the Code. You agree that the Company does not have a duty to design its compensation policies in a manner that minimizes your tax liabilities, and you will not make any claim against the Company related to tax liabilities
arising from your compensation. Any compensation paid pursuant to this letter agreement that is subject to recovery under any applicable law, government regulation or stock exchange listing requirement, will be subject to such deductions and
clawback as may be required. 
 The Company shall promptly reimburse you for the ordinary and necessary business expenses you incur in the performance of
your duties, provided that such expenses are incurred and accounted for in accordance with the Company’s reimbursement policy. You will be eligible to participate in the employee benefit plans and paid vacation programs made available by the
Company to its senior executives from time to time. In addition to these benefits, you will be provided with an automobile, subject to the terms of the Company’s car policy as in effect from time to time, for business and personal use. 

Incentive Equity Award 
 Subject to approval by the Board,
and of the stockholders with respect to requisite amendments to the Plan (the “Plan Amendments”), you will be granted (i) an option (the “Option”) to purchase 444,460 shares of Common Stock of the
Company and (ii) 302,657 restricted stock units (the “RSUs”) under the Plan. Subject to your continued employment, the Option will vest over four years beginning on the Effective Date with 25% of the underlying
shares vesting on the first anniversary of the Effective Date and 1/36th of the remaining shares underlying the Option vesting monthly thereafter. Subject to your continued employment, the RSUs
will vest over four years beginning on the Effective Date with 25% of the RSUs vesting on the first anniversary of the Effective Date and 1/12th of the remaining RSUs vesting quarterly thereafter.
The Option and RSUs will be governed by the terms of the Plan and separate award agreements. 
 Subject to approval by the Board, the Option will be granted
promptly following the Effective Date; provided, however, that the right to exercise the Option will be subject to and conditioned upon approval by the stockholders of the Company of the Plan Amendments, and if such stockholder
approval is not obtained at the next meeting of the stockholders at which the Plan Amendments are submitted for approval (the “Stockholder Meeting”), the Option will be terminated. Subject to approval by the Board, the RSUs
will be granted promptly following the date of the Stockholder Meeting; provided, however, that in the event that such stockholder approval is not obtained at the Stockholder Meeting, the obligation to issue such RSUs shall
lapse. 
 In the event that the Company does not obtain approval of its stockholders to the Plan Amendments within one hundred eighty (180) days
from the Effective Date, the Option and the Company’s obligation to issue the RSUs shall immediately terminate. In such event, the Board shall promptly provide to you alternative incentive compensation as it determines to be appropriate and
commensurate with your position as Chief Executive Officer, which in the good faith judgment of the Board will be equivalent value to that which could reasonably have been achieved by means of the grant to you of the Option and RSUs described
immediately above. 
 Termination of Employment 

Your employment with the Company is “at-will.” This means that either you or the Company can terminate the employment relationship at any time and
for any reason, without cause and without prior notice. 
 Upon any termination of employment for any reason, you will be entitled to payment of all earned
but unpaid base salary and unused paid vacation accrued as of the effective date of termination, provided that 

  
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payment will be made consistent with California law, any unreimbursed business expenses authorized by this Agreement will be made no later than thirty (30) days following the effective date
of termination and continuation of any employee benefits will be handled as required by applicable law (e.g., COBRA). Except as provided below, you will not be entitled to any additional compensation or benefits hereunder. 

If your employment with Company terminates by reason of your death or Disability (as defined below), then then you will be entitled to a lump sum payment
equal to twelve (12) months of your then-current base salary (subject to applicable deductions and required tax withholdings) paid in cash on the sixtieth (60th) day following your last day of employment. 

If at any time outside the Change of Control Period, (as defined below), either the Company terminates your employment without Cause or you are Constructively
Terminated (each as defined below) and you provide an Enforceable Release (as defined below), then you will be entitled to: 
 (i) a lump sum
payment equal to twelve (12) months of your then-current base salary (subject to applicable deductions and required tax withholdings) paid in cash on the sixtieth (60th) day following your last day of employment; 

(ii) Benefits Continuation (as defined below) for twelve (12) months beginning in the month after your last day of employment; and 

(iii) accelerated vesting in your outstanding Company stock options, stock units and similar equity awards with service-based vesting with
respect to that number of shares that would have vested in the ordinary course in the first twelve (12) months after your termination, such vesting to be effective as of your last day of employment. 

If at any time during the twelve (12)-month period following the effective date of a Change of Control (the “Change of Control
Period”), your employment is terminated by the Company without Cause or you are Constructively Terminated and you provide an Enforceable Release, then you will be entitled to: 

(i) a lump sum payment equal to twelve (12) months of your then-current base salary (subject to applicable deductions and required tax
withholdings), paid in cash on the sixtieth (60th) day following your last day of employment; 
 (ii) Benefits Continuation (as defined
below) for twelve (12) months beginning in the month after your last day of employment; and 
 (iii) accelerated vesting in all of your
outstanding Company stock options, stock units and similar equity awards with service-based vesting. 
 Termination of Employment – Defined Terms

 For purposes of this letter agreement, “Benefits Continuation” is defined as Company reimbursement of the COBRA premiums for
continuation of the Company group health plan coverage for yourself and your eligible dependents that was in effect as of the date of your termination; provided, however, that such reimbursement shall terminate if and to the extent you become
eligible to receive group health coverage from a subsequent employer (and any such eligibility shall be promptly reported to the Company). Notwithstanding the foregoing, if reimbursement of COBRA premiums hereunder would violate the Patient
Protection and Affordable Care Act of 2010, the parties agree to reform this as necessary to comply with said law and the regulations issued thereunder. 

For purposes of this letter agreement, a termination of your employment will be for “Cause” if you are terminated for any one or more
of the following events, as determined in good faith by the Board: (i) your commission of a criminal offence involving moral turpitude; (ii) your commission of any act of fraud, embezzlement or dishonesty either intended to injure the
Company or otherwise having a material detrimental effect on the Company; (iii) in carrying out your duties hereunder (A) gross negligence, (B)

  
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willful misconduct or (C) failure to comply with a legal directive of the Board that is not cured within thirty (30) days after written notice of such breach; or (iv) your breach
of any material provision of this letter agreement, any material Company policy or your Employee Invention and Confidential Information Agreement. 
 For
purposes of this letter agreement, a “Change of Control” is defined as the occurrence of any one or more of the following provided, however, that the Company shall determine under parts (iii) and (iv) whether
multiple transactions are related, and its determination shall be final, binding and conclusive: (i) a merger or consolidation in which the Company is not the surviving entity, except for a transaction the principal purpose of which is to
change the state in which the Company is incorporated; or (ii) the sale, transfer or other disposition of all or substantially all of the assets of the Company; or (iii) any reverse merger or series of related transactions culminating in a
reverse merger (including, but not limited to, a tender offer followed by a reverse merger) in which the Company is the surviving entity but (A) the shares of Company common stock outstanding immediately prior to such merger are converted or
exchanged by virtue of the merger into other property, whether in the form of securities, cash or otherwise, or (B) in which securities possessing more than fifty percent (50%) of the total combined voting power of the Company’s
outstanding securities are transferred to a person or persons different from those who held such securities immediately prior to such merger or the initial transaction culminating in such merger, but excluding any such transaction or series of
related transactions that the Company determines shall not be a Change of Control; or (iv) acquisition in a single or series of related transactions by any person or related group of persons (other than the Company or by a Company-sponsored
employee benefit plan) of beneficial ownership (within the meaning of Rule 13d-3 of the Securities Exchange Act of 1934) of securities possessing more than fifty percent (50%) of the total combined voting power of the Company’s outstanding
securities but excluding any such transaction or series of related transactions that the Company determines shall not be a Change of Control. 
 For
purposes of this letter agreement, a termination of your employment will be a “Constructive Termination” if you resign within sixty (60) days after the occurrence of any one or more of the following events without
your consent and the Company fails to cure such event(s) within thirty (30) days after receiving written notice thereof from you: (i) material reduction in your position or responsibilities (other than temporarily in response to physical
or mental incapacity), but excluding any change in the reporting line caused by the Company becoming a subsidiary of another public company; (ii) reduction of your base salary in excess of 10%, but excluding any general reduction in base salary
that affects all similarly situated executives in substantially the same proportions; or (iii) relocation of your principal worksite more than fifty (50) miles from its then-current location. 

For purposes of this letter agreement, “Disability” is defined as an incapacity to perform your duties for one hundred and eighty
(180) or more days during any twelve (12)-month period that is due, in the written opinion of a licensed physician mutually acceptable to you and the Company, to a physical or mental illness. 

For purposes of this letter agreement, an “Enforceable Release” is defined as an executed release of claims in a form satisfactory to
the Company that is irrevocable within sixty (60) days after your termination of employment. 
 Parachute Limitation 

In the event that the benefits provided for in this letter agreement or otherwise payable to you (i) constitute “parachute payments” within the
meaning of Section 280G of the Code and (ii) would be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then your benefits under this letter agreement shall be either
(A) delivered, subject to any applicable tax or other withholdings, in full, or (B) delivered, subject to any applicable tax or other withholdings, to such lesser extent as would result in no portion of such benefits being subject to the
Excise Tax, whichever of the 

  
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foregoing amounts, taking into account the applicable federal, state and local income taxes and the Excise Tax, results in the receipt by the Executive, on an after-tax basis, of the greatest
amount of benefits, notwithstanding that all or some portion of such benefits may be taxable under Section 4999 of the Code. To the extent required to avoid a violation of Section 409A of the Code, in no event will you or the Company
exercise any discretion with respect to the ordering of any such reduction of payments or benefits. 
 Unless you and the Company otherwise agree in
writing, any determination required under the immediately preceding paragraph shall be made in writing by the Company’s independent public accountants (the “Accountants”), whose determination shall be conclusive and
binding upon you and the Company for all purposes. For purposes of making the requisite calculations, the Accountants may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith
interpretations concerning the application of Section 280G and 4999 of the Code. Both the Company and you shall furnish to the Accountants such information and documents as the Accountants may reasonably request in order to make a
determination. The Company shall bear all costs the Accountants may reasonably incur in connection with any calculations contemplated by this paragraph. 

Company Policies 
 In the performance of your duties, you
shall comply with all applicable laws, rules and regulations as well as all Company rules, procedures, policies, requirements and directions. Like all Company employees, as a condition of your employment with the Company, you will be required to
sign and to be bound by the terms of the Company’s Employee Invention and Confidential Information Agreement, a copy of which is attached to this letter. 

You understand and agree that by entering into this letter agreement, you represent to the Company that your performance will not breach any other agreement
to which you are a party and that you have not, and will not during the term of your employment with the Company, enter into any oral or written agreement in conflict with any of the provisions of this letter agreement or the Company’s
policies. 
 Integration; Modification; Severability; Disputes 

This letter agreement, your Employee Invention and Confidential Information Agreement and any written Company plans and policies that are referenced in this
letter agreement, as such plans and policies may be amended by the Company from time to time, set forth the terms of your employment with the Company on and after the Effective Date, and supersede and replace any prior agreements, representations or
understandings, whether written, oral or implied, between you and the Company. 
 No waiver, alteration, or modification, if any, of the provisions of this
agreement will be binding unless in writing and signed by duly authorized representatives of the parties hereto. If any term of this letter agreement is held to be invalid or unenforceable, the remainder of the terms will remain in full force and
effect without such provision. 

  
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 This agreement will be governed by and construed in accordance with the laws of the State of California without
regard to its conflict of laws principles. Except as prohibited by law, any dispute with anyone (including the Company and its employees, officers and directors) relating to your employment by the Company or the termination of such employment will
be resolved through binding arbitration in Alameda County, California under the Arbitration Rules set forth in California Code of Civil Procedure Section 1280 et seq., and pursuant to California law. 

This offer is valid through September 15, 2015. You may indicate your acceptance of this offer by signing the acknowledgment below and returning it to
me. 
 Sincerely, 
  

							
	IDENTIV, INC.
		
	By:	 	  /s/ Gary Kremen

		 	Gary Kremen, for the Board of Directors
		 	(Steven Humphreys abstaining)
	
	AGREED AND ACCEPTED:
				
	By:	 	  /s/ Steven Humphreys
	 		 	 9/14/2015

		 	Steven Humphreys	 		 	Date Accepted

  
 6EX-10.1

 Exhibit 10.1 

INDEMNITY AGREEMENT 

THIS INDEMNITY AGREEMENT (this “Agreement”) dated as of
                            , 20    , is made by and between SynCardia Systems,
Inc., a Delaware corporation (the “Company”), and                     (“Indemnitee”). 

RECITALS 

A. The Company desires to attract and retain the services of highly qualified individuals as directors, officers, employees and agents.
 
 B. The Company’s Amended and Restated Certificate of Incorporation (the “Certificate”) requires that
the Company indemnify its directors officers, employees and agents, as authorized by the Delaware General Corporation Law, as amended (the “Code”), under which the Company is organized and the Certificate expressly provides that the
indemnification provided therein is not exclusive and contemplates that the Company may enter into separate agreements with its directors, officers and other persons to set forth specific indemnification provisions. 

C. Indemnitee does not regard the protection currently provided by applicable law, the Company’s governing documents and available
insurance as adequate under the present circumstances, and the Company has determined that Indemnitee and other directors, officers, employees and agents of the Company may not be willing to serve or continue to serve in such capacities without
additional protection. 
 D. The Company desires and has requested Indemnitee to serve or continue to serve as a director,
officer, employee or agent of the Company, as the case may be, and has proffered this Agreement to Indemnitee as an additional inducement to serve in such capacity. 

E. Indemnitee is willing to serve, or to continue to serve, as a director, officer, employee or agent of the Company, as the case may
be, if Indemnitee is furnished the indemnity provided for herein by the Company. 
 AGREEMENT 

NOW THEREFORE, in consideration of the mutual covenants and agreements set forth herein, the parties
hereto, intending to be legally bound, hereby agree as follows: 
 1. Definitions. 

(a) Agent. For purposes of this Agreement, the term “agent” of the Company means any person who: (i) is or was a
director, officer, employee or other fiduciary of the Company or a subsidiary of the Company; or (ii) is or was serving at the request or for the convenience of, or representing the interests of, the Company or a subsidiary of the Company, as a
director, officer, employee or other fiduciary of a foreign or domestic corporation, partnership, joint venture, trust or other enterprise. 

  
 1. 

 (b) Expenses. For purposes of this Agreement, the term “expenses” shall be
broadly construed and shall include, without limitation, all direct and indirect costs of any type or nature whatsoever (including, without limitation, all attorneys’, witness, or other professional fees and related disbursements, and other
out-of-pocket costs of whatever nature), actually and reasonably incurred by Indemnitee in connection with the investigation, defense or appeal of a proceeding or establishing or enforcing a right to indemnification under this Agreement, the Code or
otherwise, and amounts paid in settlement by or on behalf of Indemnitee, but shall not include any judgments, fines or penalties actually levied against Indemnitee for such individual’s violations of law. The term “expenses” shall
also include reasonable compensation for time spent by Indemnitee for which he is not compensated by the Company or any subsidiary or third party (i) for any period during which Indemnitee is not an agent, in the employment of, or providing
services for compensation to, the Company or any subsidiary; and (ii) if the rate of compensation and estimated time involved is approved by the directors of the Company who are not parties to any action with respect to which expenses are
incurred, for Indemnitee while an agent of, employed by, or providing services for compensation to, the Company or any subsidiary. 
 (c)
Proceedings. For purposes of this Agreement, the term “proceeding” shall be broadly construed and shall include, without limitation, any threatened, pending, or completed action, suit, arbitration, alternate dispute resolution
mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether brought in the right of the Company or otherwise and whether of a civil, criminal, administrative or investigative nature, and
whether formal or informal in any case, in which Indemnitee was, is or will be involved as a party or otherwise by reason of: (i) the fact that Indemnitee is or was a director or officer of the Company; (ii) the fact that any action taken
by Indemnitee or of any action on Indemnitee’s part while acting as director, officer, employee or agent of the Company; or (iii) the fact that Indemnitee is or was serving at the request of the Company as a director, officer, employee or
agent of another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise, and in any such case described above, whether or not serving in any such capacity at the time any liability or expense is incurred for which
indemnification, reimbursement, or advancement of expenses may be provided under this Agreement. 
 (d) Subsidiary. For purposes of
this Agreement, the term “subsidiary” means any corporation or limited liability company of which more than 50% of the outstanding voting securities or equity interests are owned, directly or indirectly, by the Company and one or more of
its subsidiaries, and any other corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise of which Indemnitee is or was serving at the request of the Company as a director, officer,
employee, agent or fiduciary. 
 (e) Independent Counsel. For purposes of this Agreement, the term “independent counsel”
means a law firm, or a partner (or, if applicable, member) of such a law firm, that is experienced in matters of corporation law and neither presently is, nor in the past five (5) years has been, retained to represent: (i) the Company or
Indemnitee in any matter material to either such party, or (ii) any other party to the proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term “independent counsel” shall not include
any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement. 

  
 2. 

 2. Agreement to Serve. Indemnitee will serve, or continue to serve, as a director,
officer, employee or agent of the Company or any subsidiary, as the case may be, faithfully and to the best of his or her ability, at the will of such corporation (or under separate agreement, if such agreement exists), in the capacity Indemnitee
currently serves as an agent of such corporation, so long as Indemnitee is duly appointed or elected and qualified in accordance with the applicable provisions of the bylaws or other applicable charter documents of such corporation, or until such
time as Indemnitee tenders his or her resignation in writing; provided, however, that nothing contained in this Agreement is intended as an employment agreement between Indemnitee and the Company or any of its subsidiaries or to create any right to
continued employment of Indemnitee with the Company or any of its subsidiaries in any capacity. 
 The Company acknowledges that it
has entered into this Agreement and assumes the obligations imposed on it hereby, in addition to and separate from its obligations to Indemnitee under the Certificate, to induce Indemnitee to serve, or continue to serve, as a director, officer,
employee or agent of the Company, and the Company acknowledges that Indemnitee is relying upon this Agreement in serving as a director, officer, employee or agent of the Company. 

3. Indemnification. 

(a) Indemnification in Third Party Proceedings. Subject to Section 10 below, the Company shall indemnify Indemnitee to the fullest
extent permitted by the Code, as the same may be amended from time to time (but, only to the extent that such amendment permits Indemnitee to broader indemnification rights than the Code permitted prior to adoption of such amendment), if Indemnitee
is a party to or threatened to be made a party to or otherwise involved in any proceeding, for any and all expenses, actually and reasonably incurred by Indemnitee in connection with the investigation, defense, settlement or appeal of such
proceeding. 
 (b) Indemnification in Derivative Actions and Direct Actions by the Company. Subject to Section 10 below, the
Company shall indemnify Indemnitee to the fullest extent permitted by the Code, as the same may be amended from time to time (but, only to the extent that such amendment permits Indemnitee to broader indemnification rights than the Code permitted
prior to adoption of such amendment), if Indemnitee is a party to or threatened to be made a party to or otherwise involved in any proceeding by or in the right of the Company to procure a judgment in its favor, against any and all expenses actually
and reasonably incurred by Indemnitee in connection with the investigation, defense, settlement, or appeal of such proceedings. 
 (c)
Indemnification of Related Parties. If (i) Indemnitee is or was affiliated with one or more venture capital funds that has invested in the Company (an “Appointing Stockholder”), (ii) the Appointing Stockholder is, or
is threatened to be made, a party to or a participant in any proceeding, and (iii) the Appointing Stockholder’s involvement in the proceeding is related to Indemnitee’s service to the Company as a director of the Company or any direct
or indirect subsidiaries of the Company, then, to the extent resulting from any claim based on the Indemnitee’s service to the Company as a director or other fiduciary of the Company, the Appointing Stockholder will be entitled to
indemnification hereunder for reasonable expenses to the same extent as Indemnitee. 

  
 3. 

 (d) Third Party Indemnitors. The Company hereby acknowledges that the Indemnitee may have
certain rights to indemnification, advancement of expenses or insurance, provided by investment funds and/or organizations other than the Company (collectively, the “Third Party Indemnitors”). For the avoidance of doubt, for purposes of
this Section 3(d), the Company’s D&O Insurance (as defined in Section 9 below) shall not be deemed a Third Party Indemnitor. In the event that the Indemnitee is, or is threatened to be made, a party to or a participant in any
proceeding to the extent resulting from any claim based on the Indemnitee’s service to the Company as a director or other fiduciary of the Company, then the Company shall (i) be an indemnitor of first resort (i.e., its obligations
to Indemnitee are primary and any obligation of the Third Party Indemnitors to advance expenses or to provide indemnification for the same expenses or liabilities incurred by Indemnitee are secondary), (ii) be required to advance reasonable
expenses incurred by Indemnitee, and (iii) be liable for the full amount of all expenses, judgments, penalties, fines and amounts paid in settlement to the extent legally permitted and as required by the terms of this Agreement and any
provision of the Certificate or the bylaws of the Company (the “Bylaws”) (or any other agreement between the Company and Indemnitee), without regard to any rights Indemnitee may have against the Third Party Indemnitors. The Company
irrevocably waives, relinquishes and releases the Third Party Indemnitors from any and all claims against the Third Party Indemnitors for contribution, subrogation or any other recovery of any kind in respect thereof. No advancement or payment by
the Third Party Indemnitors on behalf of Indemnitee with respect to any claim for which Indemnitee has sought indemnification from the Company shall affect the foregoing and the Third Party Indemnitors shall have a right of contribution or be
subrogated to the extent of such advancement or payment to all of the rights of recovery of Indemnitee against the Company. The Third Party Indemnitors are third party beneficiaries of the terms of this Section. 

4. Indemnification of Expenses of Successful Party. Notwithstanding any other provision of this Agreement, to the extent that
Indemnitee has been successful on the merits or otherwise in defense of any proceeding or in defense of any claim, issue or matter therein, including the dismissal of any action without prejudice, the Company shall indemnify Indemnitee against all
expenses actually and reasonably incurred in connection with the investigation, defense or appeal of such proceeding. 
 5.
Partial Indemnification. If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of any expenses actually and reasonably incurred by Indemnitee in the investigation, defense,
settlement or appeal of a proceeding, but is precluded by applicable law or the specific terms of this Agreement to indemnification for the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion thereof to which
Indemnitee is entitled. 
 6. Advancement of Expenses. To the extent not prohibited by law, the Company shall advance the
expenses incurred by Indemnitee in connection with any proceeding, and such advancement shall be made within twenty (20) days after the receipt by the Company of a statement or statements requesting such advances (which shall include invoices
received by Indemnitee in connection with such expenses but, in the case of invoices in connection with legal 

  
 4. 

 
services, any references to legal work performed or to expenditures made that would cause Indemnitee to waive any privilege accorded by applicable law shall not be included with the invoice) and
upon request of the Company, an undertaking to repay the advancement of expenses if and to the extent that it is ultimately determined by a court of competent jurisdiction in a final judgment, not subject to appeal, that Indemnitee is not entitled
to be indemnified by the Company. Advances shall be unsecured, interest free and without regard to Indemnitee’s ability to repay the expenses. Advances shall include any and all expenses actually and reasonably incurred by Indemnitee pursuing
an action to enforce Indemnitee’s right to indemnification under this Agreement, or otherwise and this right of advancement, including expenses incurred preparing and forwarding statements to the Company to support the advances claimed.
Indemnitee acknowledges that the execution and delivery of this Agreement shall constitute an undertaking providing that Indemnitee shall, to the fullest extent required by law, repay the advance if and to the extent that it is ultimately determined
by a court of competent jurisdiction in a final judgment, not subject to appeal, that Indemnitee is not entitled to be indemnified by the Company. The right to advances under this Section shall continue until final disposition of any proceeding,
including any appeal therein. This Section 6 shall not apply to any claim made by Indemnitee for which indemnity is excluded pursuant to Section 10(b). 

7. Notice and Other Indemnification Procedures. 

(a) Notification of Proceeding. Indemnitee will notify the Company in writing promptly upon being served with any summons, citation,
subpoena, complaint, indictment, information or other document relating to any proceeding or matter which may be subject to indemnification or advancement of expenses covered hereunder. The failure of Indemnitee to so notify the Company shall not
relieve the Company of any obligation which it may have to Indemnitee under this Agreement or otherwise. 
 (b) Request for
Indemnification and Indemnification Payments. Indemnitee shall notify the Company promptly in writing upon receiving notice of any demand, judgment or other requirement for payment that Indemnitee reasonably believes to be subject to
indemnification under the terms of this Agreement, and shall request payment thereof by the Company. Indemnification payments requested by Indemnitee under Section 3 hereof shall be made by the Company no later than sixty (60) days after
receipt of the written request of Indemnitee. Claims for advancement of expenses shall be made under the provisions of Section 6 herein. 

(c) Application for Enforcement. In the event the Company fails to make timely payments as set forth in Sections 6 or 7(b) above,
Indemnitee shall have the right to apply to any court of competent jurisdiction for the purpose of enforcing Indemnitee’s right to indemnification or advancement of expenses pursuant to this Agreement. In such an enforcement hearing or
proceeding, the burden of proof shall be on the Company to prove that indemnification or advancement of expenses to Indemnitee is not required under this Agreement or permitted by applicable law. Any determination by the Company (including its Board
of Directors, stockholders or independent counsel) that Indemnitee is not entitled to indemnification hereunder, shall not be a defense by the Company to the action nor create any presumption that Indemnitee is not entitled to indemnification or
advancement of expenses hereunder. 

  
 5. 

 (d) Indemnification of Certain Expenses. The Company shall indemnify Indemnitee against
all expenses incurred in connection with any hearing or proceeding under this Section 7 unless the Company prevails in such hearing or proceeding on the merits in all material respects. 

8. Assumption of Defense. In the event the Company shall be requested by Indemnitee to pay the expenses of any proceeding, the Company,
if appropriate, shall be entitled to assume the defense of such proceeding, or to participate to the extent permissible in such proceeding, with counsel reasonably acceptable to Indemnitee. Upon assumption of the defense by the Company and the
retention of such counsel by the Company, the Company shall not be liable to Indemnitee under this Agreement for any fees of counsel subsequently incurred by Indemnitee with respect to the same proceeding, provided that Indemnitee shall have the
right to employ separate counsel in such proceeding at Indemnitee’s sole cost and expense. Notwithstanding the foregoing, if Indemnitee’s counsel delivers a written notice to the Company stating that such counsel has reasonably concluded
that there may be a conflict of interest between the Company and Indemnitee in the conduct of any such defense or the Company shall not, in fact, have employed counsel or otherwise actively pursued the defense of such proceeding within a reasonable
time, then in any such event the fees and expenses of Indemnitee’s counsel to defend such proceeding shall be subject to the indemnification and advancement of expenses provisions of this Agreement. 

9. Insurance. To the extent that the Company maintains an insurance policy or policies providing liability
insurance for directors, officers, employees, or agents of the Company or of any subsidiary (“D&O Insurance”), Indemnitee shall be covered by such policy or policies in accordance with its or their terms to the maximum
extent of the coverage available for any such director, officer, employee or agent under such policy or policies. If, at the time of the receipt of a notice of a claim pursuant to the terms hereof, the Company has D&O Insurance in effect, the
Company shall give prompt notice of the commencement of such proceeding to the insurers in accordance with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable action to cause such
insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such proceeding in accordance with the terms of such policies. 

10. Exceptions. 

(a) Certain Matters. Any provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to the terms of
this Agreement to indemnify Indemnitee on account of any proceeding with respect to (i) remuneration paid to Indemnitee if it is determined by final judgment or other final adjudication that such remuneration was in violation of law (and, in
this respect, both the Company and Indemnitee have been advised that the Securities and Exchange Commission believes that indemnification for liabilities arising under the federal securities laws is against public policy and is, therefore,
unenforceable and that claims for indemnification should be submitted to appropriate courts for adjudication, as indicated in Section 10(d) below); (ii) a final judgment rendered against Indemnitee for an accounting, disgorgement or
repayment of profits made from the purchase or sale by Indemnitee of securities of the Company against Indemnitee or in connection with a settlement by or on behalf of Indemnitee to the extent it is acknowledged by Indemnitee and the Company that
such 

  
 6. 

 
amount paid in settlement resulted from Indemnitee’s conduct from which Indemnitee received monetary personal profit, pursuant to the provisions of Section 16(b) of the Securities
Exchange Act of 1934, as amended, or other provisions of any federal, state or local statute or rules and regulations thereunder; (iii) a final judgment or other final adjudication that Indemnitee’s conduct was in bad faith, knowingly
fraudulent or deliberately dishonest or constituted willful misconduct (but only to the extent of such specific determination); or (iv) on account of conduct that is established by a final judgment as constituting a breach of Indemnitee’s
duty of loyalty to the Company or resulting in any personal profit or advantage to which Indemnitee is not legally entitled. For purposes of the foregoing sentence, a final judgment or other adjudication may be reached in either the underlying
proceeding or action in connection with which indemnification is sought or a separate proceeding or action to establish rights and liabilities under this Agreement. 

(b) Claims Initiated by Indemnitee. Any provision herein to the contrary notwithstanding, the Company shall not be obligated to
indemnify or advance expenses to Indemnitee with respect to proceedings or claims initiated or brought by Indemnitee against the Company or its directors, officers, employees or other agents and not by way of defense, except (i) with respect to
proceedings brought to establish or enforce a right to indemnification under this Agreement or under any other agreement, provision in the Bylaws or Certificate or applicable law, or (ii) with respect to any other proceeding initiated by
Indemnitee that is either approved by the Board of Directors or Indemnitee’s participation is required by applicable law. However, indemnification or advancement of expenses may be provided by the Company in specific cases if the Board of
Directors determines it to be appropriate. 
 (c) Unauthorized Settlements. Any provision herein to the contrary notwithstanding, the
Company shall not be obligated pursuant to the terms of this Agreement to indemnify Indemnitee under this Agreement for any amounts paid in settlement of a proceeding effected without the Company’s written consent. Neither the Company nor
Indemnitee shall unreasonably withhold consent to any proposed settlement; provided, however, that the Company may in any event decline to consent to (or to otherwise admit or agree to any liability for indemnification hereunder in respect of) any
proposed settlement if the Company is also a party in such proceeding and determines in good faith that such settlement is not in the best interests of the Company and its stockholders. 

(d) Securities Act Liabilities. Any provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to
the terms of this Agreement to indemnify Indemnitee or otherwise act in violation of any undertaking appearing in and required by the rules and regulations promulgated under the Securities Act of 1933, as amended (the “Act”), or in any
registration statement filed with the SEC under the Act. Indemnitee acknowledges that paragraph (h) of Item 512 of Regulation S-K currently generally requires the Company to undertake in connection with any registration statement filed
under the Act to submit the issue of the enforceability of Indemnitee’s rights under this Agreement in connection with any liability under the Act on public policy grounds to a court of appropriate jurisdiction and to be governed by any final
adjudication of such issue. Indemnitee specifically agrees that any such undertaking shall supersede the provisions of this Agreement and to be bound by any such undertaking. 

  
 7. 

 11. Nonexclusivity and Survival of Rights. The provisions for indemnification and
advancement of expenses set forth in this Agreement shall not be deemed exclusive of any other rights which Indemnitee may at any time be entitled under any provision of applicable law, the Certificate, Bylaws or other agreements, both as to action
in Indemnitee’s official capacity and Indemnitee’s action as an agent of the Company, in any court in which a proceeding is brought, and Indemnitee’s rights hereunder shall continue after Indemnitee has ceased acting as an agent of
the Company and shall inure to the benefit of the heirs, executors, administrators and assigns of Indemnitee. The obligations and duties of the Company to Indemnitee under this Agreement shall be binding on the Company and its successors and assigns
until terminated in accordance with its terms. The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Company, expressly to
assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place. 

No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this
Agreement in respect of any action taken or omitted by such Indemnitee in his or her corporate status prior to such amendment, alteration or repeal. To the extent that a change in the Code, whether by statute or judicial decision, permits greater
indemnification or advancement of expenses than would be afforded currently under the Certificate, Bylaws and this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by
such change. No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter
existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, by Indemnitee shall not prevent the concurrent assertion or employment of any other right or remedy by Indemnitee. 

12. Term. This Agreement shall continue until and terminate upon the later of: (a) five (5) years after the date that
Indemnitee shall have ceased to serve as a director or and/or officer, employee or agent of the Company; or (b) one (1) year after the final termination of any proceeding, including any appeal then pending, in respect to which Indemnitee
was granted rights of indemnification or advancement of expenses hereunder.  
 No legal action shall be brought and no cause of
action shall be asserted by or in the right of the Company against an Indemnitee or an Indemnitee’s estate, spouse, heirs, executors or personal or legal representatives after the expiration of five (5) years from the date of accrual of
such cause of action, and any claim or cause of action of the Company shall be extinguished and deemed released unless asserted by the timely filing of a legal action within such five-year period; provided, however, that if any shorter period of
limitations is otherwise applicable to such cause of action, such shorter period shall govern. 
 13. Subrogation. In the event of
payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who, at the request and expense of the Company, shall execute all papers required and shall do everything
that may be reasonably necessary to secure such rights, including the execution of such documents necessary to enable the Company effectively to bring suit to enforce such rights. 

  
 8. 

 14. Interpretation of Agreement. It is understood that the parties hereto intend this
Agreement to be interpreted and enforced so as to provide indemnification to Indemnitee to the fullest extent now or hereafter permitted by law. 

15. Severability. If any provision of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever,
(a) the validity, legality and enforceability of the remaining provisions of the Agreement (including without limitation, all portions of any paragraphs of this Agreement containing any such provision held to be invalid, illegal or
unenforceable, that are not themselves invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby; and (b) to the fullest extent possible, the provisions of this Agreement (including, without limitation, all
portions of any paragraph of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that are not themselves invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested by
the provision held invalid, illegal or unenforceable and to give effect to Section 14 hereof. 
 16. Amendment and
Waiver. No supplement, modification, amendment, or cancellation of this Agreement shall be binding unless executed in writing by the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a
waiver of any other provision hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.  
 17.
Notice. Except as otherwise provided herein, any notice or demand which, by the provisions hereof, is required or which may be given to or served upon the parties hereto shall be in writing and, if by telegram, telecopy or telex, shall be deemed
to have been validly served, given or delivered when sent, if by overnight delivery, courier or personal delivery, shall be deemed to have been validly served, given or delivered upon actual delivery and, if mailed, shall be deemed to have been
validly served, given or delivered three (3) business days after deposit in the United States mail, as registered or certified mail, with proper postage prepaid and addressed to the party or parties to be notified at the addresses set forth on
the signature page of this Agreement (or such other address(es) as a party may designate for itself by like notice). If to the Company, notices and demands shall be delivered to the attention of the Secretary of the Company. 

18. Governing Law. This Agreement shall be governed exclusively by and construed according to the laws of the State of Delaware, as
applied to contracts between Delaware residents entered into and to be performed entirely within Delaware. 
 19.
Counterparts. This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute but one and the same Agreement. Only one such counterpart need
be produced to evidence the existence of this Agreement. 
 20. Headings. The headings of the sections of this Agreement are
inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction hereof. 

  
 9. 

 21. Entire Agreement. This Agreement constitutes the entire agreement between the parties
with respect to the subject matter hereof and supersedes all prior agreements, understandings and negotiations, written and oral, between the parties with respect to the subject matter of this Agreement; provided, however, that this Agreement is a
supplement to and in furtherance of the Certificate, Bylaws, the Code and any other applicable law, and shall not be deemed a substitute therefor, and does not diminish or abrogate any rights of Indemnitee thereunder.  

  
 10. 

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

					
	COMPANY
	
	SynCardia Systems, Inc.
		
	By:	 	  

			
		 	Name:	 	  

			
		 	Title:	 	  

	
	INDEMNITEE
	
	  

	Signature of Indemnitee
	
	  

	Print or Type Name of Indemnitee

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