Bioventus LLC Option Forfeiture Agreement with Ken Reali (February 2021)
This agreement between Bioventus LLC and Ken Reali confirms that Mr. Reali agrees to forfeit his option to purchase 5,935 common or profit interest units in Bioventus LLC, as originally granted in a July 30, 2020 letter agreement. After this forfeiture, Mr. Reali will no longer have any rights to acquire equity in Bioventus LLC or its affiliates under the forfeited option. Both parties agree that they have no further rights or obligations under the original option agreement. The agreement is effective upon signing and governed by Delaware law.
Exhibit 10.57
 | Bioventus | 1 ###-###-#### | ||
| 4721 Emperor Blvd., Suite 100 | 1 ###-###-#### | |||
| Durham, NC 27703 | www.BioventusGlobal.com | |||
| USA |
February 3, 2021
Ken Reali
c/o Bioventus LLC
4721 Emperor Boulevard, Suite 100
Durham, NC 27703
Dear Ken:
As discussed, for ten dollars ($10) and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, effective as of the date hereof, you hereby agree to forfeit the option to purchase 5,935 common or profit interest units in Bioventus LLC (the “Company”) or an equivalent number of equity interests of a successor entity (the “Option”) that was granted to you in that certain letter agreement dated July 30, 2020 (the “Option Letter Agreement”).
Following such forfeiture, you will no longer hold any equity interest, or any right to acquire any equity interest, in the Company or any of its subsidiaries, affiliates or successors pursuant to the Option, and you and the Company will not have any rights or obligations under the Option Letter Agreement following the date hereof.
Please kindly acknowledge your acceptance of this letter by signing where your name appears below. By signing below, you acknowledge that you have reviewed this letter, have had the opportunity to raise questions with the Company regarding the forfeiture of the Option, and voluntarily and knowingly accept and agree to the provisions set forth herein. Following your acceptance of this letter, the Company and its transfer agent will make any and all appropriate adjustments to its books and records to reflect the foregoing. This letter shall be governed and construed under the internal laws of the State of Delaware and may be executed in several counterparts.
| Very truly yours, | ||||
| Bioventus LLC | ||||
| By: | /s/ Leigh Ann Stradford | |||
| Name: | Leigh Ann Stradford | |||
| Title: | SVP & Chief Human Resources Officer | |||
| ACCEPTED AND AGREED: |
| /s/ Ken Reali |
| Ken Reali |
