Document:

Exhibit 10.23(a)

		

			Exhibit 10.23(a)

		

		

			 

		

		
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			CERTAIN INFORMATION HAS BEEN OMITTED OR REDACTED FROM VERSION OF THIS EXHIBIT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION BECAUSE IT BOTH (I) IS NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED
		

		
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			Amendment Form
		

		
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						Amendment No.

					
					
						 

					
					
						1

				
	
					
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						Amendment Submission Date:

					
					
						 

					
					
						November 17, 2020

				
	
					
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						Sponsor:

					
					
						 

					
					
						CryoLife, Inc.

				
	
					
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						Study Title:

					
					
						 

					
					
						Prospective Randomized On-X Anticoagulation Clinical Trial (PROACT Xa)

				
	
					
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						Sponsor Contact:

					
					
						 

					
					
						Brittanny Boyer, Associate Director, New Technology, Clinical Research

				
	
					
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						DCRI Contacts:

					
					
						 

					
					
						Alma Chavez, Project Leader Clinical Operations Dawn Goodwin, Grants and Proposals Analyst III, Grants and Proposals Services

				

		
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			CryoLife, Inc. (“Sponsor”) and Duke University (“Duke” or “DCRI”) entered into a Clinical Research Agreement (the “Agreement”), effective October 10, 2019, to conduct the PROACT Xa - Prospective Randomized On-X Anticoagulation Clinical Trial.  This Amendment No. 1 serves as an amendment to the Agreement and provides details related to the scope changes and associated budget adjustments.    
		

		
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			Description of Scope Changes:  The budget for this Amendment is detailed in Attachment 1: “DCRI Detailed Fees and Pass-through Cost Estimate” (the “Amended Budget”).  Attachment 1 to this Amendment No. 1 hereby replaces the budget table titled “Star-Up Agreement 7th Extension thru Full Study Budget 10/8/2019” in its entirety.
		

		
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			Changes to Study Timeline:  This Amendment to the Agreement includes [                                                                         ]as shown in the revised study timeline table below:
		

		
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			Original Study Timeline in the Agreement:
		

		
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						Study Timeline (Clinical Research Agreement)

				
	
					
						General Study Milestones

					
					
						Number of Months

					
					
						Date

				
	
					
						﻿Planning/Startup

					
					
						 

					
					
						 

				
	
					
						﻿Enrollment

					
					
						 

					
					
						 

				
	
					
						Treatment/Follow-up

					
					
						 

					
					
						[OMITTED]

				
	
					
						Last CRF In-house/Database Lock

					
					
						 

					
					
						 

				
	
					
						﻿Close Out/Archival/Stat Report

					
					
						 

					
					
						 

				
	
					
						Final Reporting

					
					
						 

					
					
						 

				
	
					
						﻿TOTAL PROJECT DURATION:

					
					
						 

					
					
						 

				

		
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			Revised Study Timeline:
		

		
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						Study Timeline (Amendment to the Clinical Research Agreement)

				
	
					
						General Study Milestones

					
					
						Number of Months

					
					
						Date

				
	
					
						Planning/Startup

					
					
						 

					
					
						 

				
	
					
						Enrollment

					
					
						 

					
					
						 

				
	
					
						Treatment/Follow-up

					
					
						 

					
					
						[OMITTED]

				
	
					
						Last CRF In-house/Database Lock

					
					
						 

					
					
						 

				
	
					
						Close Out/Archival/Stat Report

					
					
						 

					
					
						 

				
	
					
						Final Reporting

					
					
						 

					
					
						 

				
	
					
						TOTAL PROJECT DURATION:

					
					
						 

					
					
						 

				

		
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			Description of Budget Change Summary:
		

		
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						Original SUA Through Clinical Research Full Budget

					
					
						Amendment No. 1 to the Clinical Research Agreement 

					
					
						Revised Contract Value

				
	
					
						DCRI Direct Fees

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Pass-through Costs

					
					
						 

					
					
						[OMITTED]

					
					
						 

				
	
					
						Total

					
					
						 

					
					
						 

					
					
						 

				

		
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			Description of Scope Changes:  The DCRI budget for Amendment is detailed in Attachment I: “DCRI Detailed Fees and Pass-through Cost Estimate in the “Scope Change Justification” column. 
		

		
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			The budget includes a correction of $12,509.16 for a credit that was erroneously included in the Start-Up Agreement (SUA).
		

		
			DCRI will invoice completed units on a monthly basis pursuant to the terms of the Agreement, provided, however, no additional upfront payment shall be required with respect to the budget increases reflected in this Amendment No. 1.  
		

		

		

		 

 

		
		

		
			Approval Signatures:
		

		
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						CryoLife, Inc.:

					
						 

					
						By:  __/s/ Pat Mackin___________________

					
						 

					
						Title: __President and CEO_________________

					
						 

					
						Date:_December 4, 2020_____________________________

					
					
						Duke University:

					
						 

					
						By:  __/s/ Aimee Turner________________

					
						 

					
						Title: __Chief Financial Officer, DCRI____

					
						 

					
						Date:_Dec. 8, 2020__________________________

				

		
			 
		

		

		

		 

 

		

			 

		

		Attachment 1:  “DCRI Detailed Fees and Pass-through Cost Estimate.” 
		

		
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			Page 4Exhibit 10.6

		

			Exhibit 10.6

		

		

			 

		

		
			SUMMARY OF 2020 COMPENSATION ARRANGEMENTS WITH NON-EMPLOYEE DIRECTORS
		

		
			(Effective as of December 31, 2020)  
		

		
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			The following summarizes the compensation and benefits received by the non-employee Directors of CryoLife as of December 31, 2020. It is intended to be a summary of compensation arrangements, and in no way is intended to provide any additional rights to any non-employee Director.
		

		
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			Annual Retainer and Committee Chair Fees
		

		
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			Each of the non-employee Directors of the Board of Directors of CryoLife (the “Board”) receives an annual cash retainer of $50,000. Each committee chair also receives a fee in addition to the annual cash retainer in the amounts shown in the following table.
		

		
			 
		

			
					
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						Annual Fees For Committee Chairs

					
					
						 

				
	
					
						Audit Committee

					
					
						  

					
					
						$

					20,000 
					
					
						  

				
	
					
						Compensation Committee

					
					
						  

					
					
						$

					15,000 
					
					
						  

				
	
					
						Corporate Governance Committee

					
					
						  

					
					
						$

					10,000 
					
					
						  

				
	
					
						Compliance Committee

					
					
						  

					
					
						$

					10,000 
					
					
						  

				

		
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			The Presiding Director also receives $25,000 retainer paid in cash. Currently, the Presiding Director is also the Chairman of the Corporate Governance Committee, and he does not receive any additional compensation for his position as Chairman of that committee. CryoLife pays all cash retainers on a monthly basis.
		

		
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			Each committee member, other than the Presiding Director, also receives a fee, in addition to the annual cash retainer, in the amounts shown in the following table.
		

		
			 
		

			
					
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						Annual Fees For Committee Members

					
					
						 

				
	
					
						Audit Committee

					
					
						  

					
					
						$

					10,000 
					
					
						  

				
	
					
						Compensation Committee

					
					
						  

					
					
						$

					7,500 
					
					
						  

				
	
					
						Corporate Governance Committee

					
					
						  

					
					
						$

					5,000 
					
					
						  

				
	
					
						Compliance Committee

					
					
						  

					
					
						$

					5,000 
					
					
						  

				

		
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			Restricted Stock Grants
		

		
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			Non-employee Directors of CryoLife are eligible for equity grants, which are generally made in May of each year. The annual equity portion of non-employee Director compensation for fiscal 2019 was paid in the form of a grant of 5,667 shares of restricted stock. These shares were issued following the annual meeting of stockholders and vest on the first anniversary of issuance. The size and terms of the annual equity grant are subject to annual reevaluation by the Compensation Committee. If a Director ceases to serve as a Director as a result of death or disability or chooses not to stand for reelection following the completion of a full term of service, the equity grant will become fully vested on the date the Director ceases to be a member of the Board. If the Director ceases to be a member of the Board for any other reason, and their equity grant has not fully vested as of the date of termination of Board service, the equity grant shall automatically be forfeited and cancelled as of the date of such termination of Board service. The Compensation Committee, however, has discretion under CryoLife’s Equity and Cash Incentive Plan to cause the equity grant to fully vest for certain conditions.
		

		

		

		 

 

		
		

		
			COVID-19 Adjustments
		

		
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			On April 24, 2020, the Board of Directors approved the elimination, for a six-month period from April 1 until September 30, 2020, of all cash retainers for non-employee directors of the Board. The Board also approved an award of restricted stock to each non-employee director of the Board in an amount disclosed below, which is equal to that non-employee director’s forfeited cash retainers for the period April 1 until September 30, 2020. The Company made these grants on May 5, 2020 after the Company’s regularly scheduled quarterly trading black out ended. The awarded shares will vest one year from the date of grant, and all grants are subject to the terms and conditions of the Company’s then current Equity and Cash Incentive Plan.
		

		
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						Non-Employee Director

					
					
						Eliminated Retainers

					
						(April 1- Sept 30, 2020)

					
					
						Restricted Stock Award

					
						(May 5, 2020)

				
	
					
						Ackerman

					
					
						$  32,916.66

					
					
						1455

				
	
					
						Bevevino

					
					
						$  36,666.66

					
					
						1620

				
	
					
						Borgstrom

					
					
						$  26,666.64

					
					
						1178

				
	
					
						Bullock

					
					
						$  29,166.66

					
					
						1289

				
	
					
						Burbank

					
					
						$ 26,666.64

					
					
						1178

				
	
					
						McCall

					
					
						$ 36,666.66

					
					
						1620

				
	
					
						Morgan

					
					
						$ 36,666.66

					
					
						1620

				
	
					
						Salveson

					
					
						$ 31,666.68

					
					
						1399

				

		
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