Vesting Acceleration Agreement between Alphatec Holdings, Inc. and Elizabeth Altman (June 2024)
This agreement between Alphatec Holdings, Inc. and Elizabeth Altman accelerates the vesting of 6,937 unvested restricted stock units previously granted to Ms. Altman, making them fully vested as of her departure from the company's Board of Directors on June 12, 2024. All other terms of prior equity agreements remain in effect except as modified by this agreement. The agreement is governed by California law and is binding on both parties and their successors.
Exhibit 10.1
VESTING ACCELERATION AGREEMENT
THIS VESTING ACCELERATION AGREEMENT (this “Agreement”), dated as of June 12, 2024 (the “Effective Date”), is entered into by and between Alphatec Holdings, Inc. (the “Company”), and Elizabeth Altman (“Director”).
WHEREAS, the Company and Director currently are parties to certain agreements related to the Company’s equity, including those certain 21,024 restricted stock units granted to Director on August 12, 2021, representing a contingent right to receive one share of the Company’s common stock for each restricted stock unit subject to certain vesting prerequisites, of which 6,937 remain unvested (the “August 2021 Grant”); and
WHEREAS, the Company has agreed to modify the August 2021 Grant as set forth in this Agreement following the departure of the Director from the Company’s Board of Directors on June 12, 2024 (the “Departure Date”).
NOW THEREFORE, for consideration duly given, the undersigned agree to the following:
The undersigned do hereby agree to be bound by the terms and conditions of this Agreement.
ALPHATEC HOLDINGS, INC.
Name: Patrick S. Miles Title: CEO & Chairman |
| ELIZABETH A. ALTMAN
By:__________________________ Name: Elizabeth A. Altman
|