Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 10, 2013, CryoLife, Inc. (the "Company") and Gerald B. Seery,
former Senior Vice President, Sales and Marketing, of the Company, entered into
a Release and Noncompete Agreement (the "Release and Noncompete Agreement"). Mr.
Seery's intent to retire and the material terms of the Release and Noncompete
Agreement were previously disclosed in the Company's Current Report on Form 8-K
filed with Securities and Exchange Commission on December 13, 2012, which is
incorporated herein by reference.
In accordance with the terms of the Release and Noncompete Agreement, the Change
of Control Agreement by and between Mr. Seery and the Company, dated as of
November 2, 2008 (the "Change of Control Agreement"), was terminated and will
have no further force and effect. The material terms of the Change of Control
Agreement are described in the Company's Current Report on Form 8-K filed with
the Securities and Exchange Commission on November 3, 2008, which is
incorporated herein by reference.
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