SEC Contract Filing

Filing Date: 2019-05-31

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>spneexhibit101.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<div><a name="s98C6099F4A955D07A94E9079C8D50561"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Exhibit 10.1</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;padding-bottom:24px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">INDEMNIFICATION AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">This Indemnification Agreement (&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Agreement</font><font style="font-family:inherit;font-size:11pt;">&#8221;) is made as of [Date] by and between SeaSpine Holdings Corporation, a Delaware corporation (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Company</font><font style="font-family:inherit;font-size:11pt;">&#8221;), and [Name] (&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Indemnitee</font><font style="font-family:inherit;font-size:11pt;">&#8221;). This Agreement supersedes and replaces any and all previous agreements between the Company and Indemnitee covering the subject matter of this Agreement.</font></div><div style="line-height:120%;padding-bottom:24px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">RECITALS</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">WHEREAS, directors, officers, and other persons in service to publicly-held corporations and other business enterprises are subjected to expensive and time-consuming litigation relating to, among other things, matters that traditionally would have been brought only against the corporation or business enterprise itself; </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">WHEREAS, in light of the litigation costs and risks, highly competent persons are likely to be reluctant to serve as directors or in other capacities of publicly-held corporations without adequate protection through insurance and indemnification against litigation costs and risks arising out of their service to and activities on behalf of the corporation;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">WHEREAS, the Board of Directors of the Company (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Board</font><font style="font-family:inherit;font-size:11pt;">&#8221;) has determined that, in order to attract and retain qualified individuals to serve the Company, the Company will attempt to maintain on an ongoing basis, at its sole expense, liability insurance for the benefit of such persons;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">WHEREAS, the General Corporation Law of the State of Delaware (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">DGCL</font><font style="font-family:inherit;font-size:11pt;">&#8221;) permits, and the By-laws of the Company require, indemnification of the officers and directors of the Company; each expressly provides that the indemnification provisions set forth therein are not exclusive, and thereby contemplate that contracts may be entered into between the Company and members of the Board, officers and other persons with respect to indemnification;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">WHEREAS, it is reasonable, prudent and necessary for the Company to obligate itself contractually to indemnify, and to advance expenses on behalf of, such persons to the fullest extent permitted by applicable law so that they will serve or continue to serve the Company free from undue concern regarding the abovementioned litigation costs and risks; </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">WHEREAS, the Company desires Indemnitee to serve (or continue to serve) as an officer or director (and may have requested or may request in the future that Indemnitee serve the Enterprise (as defined below) in other capacities); in order to induce Indemnitee to serve (or continue to serve) in such capacity, the Company is entering into this Agreement; the indemnification provisions of this Agreement are a supplement to and in furtherance of the By-laws of the Company (and shall not be deemed a substitut