Form 8-K Xtant Medical Holdings, For: Jan 03

 

Exhibit 10.1

 

 

December 28, 2021

 

Scott Neils

[Address]

 

Dear Mr. Neils:

 

I am pleased to offer you the position of Interim Chief Financial Officer with Xtant Medical Holdings, Inc. The major terms of your employment offer are set forth on the attached TERM SHEET. Our proposed start date for the role is January 03, 2022, however let us know if this does not work for you.

 

This is a full-time, exempt position, reporting to Sean Browne, President and Chief Executive Officer. Your job duties and obligations are as generally described in your interview and will be described in more detail upon commencement of employment. The job duties and obligations may change from time to time as determined by the Company.

 

Upon receipt of your signed acceptance of the attached TERM SHEET, the company will prepare an employment agreement for signature, in addition to the usual and customary documents for you to sign included Company’s Acknowledgement of Conditions of Employment, Employee Proprietary Information, and Inventions.

 

Key areas of accountability include, but are not limited to, driving strategy, determining appropriate financial and operating metrics, and instilling accountability throughout the business as the Company executes initiatives to enhance operating profitability, reposition it’s commercial capabilities and restore growth. Your job duties and obligations will be described in more detail upon commencement of employment in the new role. The job duties and obligations may change from time to time as determined by the Company.

 

Best Regards,

 

/s/ Jeanine Maines

Jeanine Maines

Director of Human Resources

(406) 388-0480 ext. 1126

 

 

 

 

EMPLOYMENT OFFER TERM SHEET

 

Scott Neils

[Address]

[Telephone number] [Email]

 

Position Title

 

Interim Chief Financial Officer (CFO)

 

Reports to

 

Sean Browne, President and Chief Executive Officer (CEO)

 

Start Date

 

January 03, 2022

 

Annual Compensation:

 

Base Salary: $300,000

 

Bonus:

 

Target Bonus = 35% Base Salary: $105,000

 

Equity:

 

●	Initial promotion grant of an option to purchase 109,164 shares of the Company’s common stock and a restricted stock unit award covering 88,983 shares – standard vesting.
●	Eligible to receive annual grants thereafter in the sole discretion of the Board and Compensation Committee

 

Benefits:

 

●	Company health and retirement benefits
●	Company sponsored $50K term life insurance policy
●	Company sponsored short-term/long-term disability
●	Nine paid holidays
●	Paid Time Off

 

AGREED TO AND ACCEPTED:

 

/s/ Scott Neils		12/28/21
Employee Name		Date

 

 

 

 

Exhibit 99.1

 

 

Xtant Medical Appoints Scott Neils Interim Chief Financial Officer

 

BELGRADE, MT, January 3, 2022 – Xtant Medical Holdings, Inc. (NYSE American: XTNT), a global medical technology company focused on surgical solutions for the treatment of spinal disorders, today announced the appointment of Scott Neils as Interim Chief Financial Officer succeeding Greg Jensen, the Company’s current Vice President, Finance and Chief Financial Officer, effective January 3, 2022.

 

“We are excited to announce this well deserved promotion for Scott. His demonstrated ability to oversee the Company’s finance and accounting operations in his current role as the Company’s Controller and his depth of experience in accounting will continue to be a great benefit to Xtant Medical,” said Sean Browne, President and Chief Executive Officer of Xtant Medical. “Additionally, we sincerely thank Greg for his dedication, leadership and lasting impact on the Company during his almost three-year tenure with the Company.”

 

Mr. Neils has 15 years of experience focused on public accounting and corporate finance and has served as the Company’s Controller since August 2019. In this role, Mr. Neils gained extensive experience managing the Company’s finance and accounting functions. Prior to joining Xtant Medical, Mr. Neils served as Audit Senior Manager at Baker Tilly US, LLP (formerly Baker Tilly Virchow Krause, LLP), an advisory, tax and assurance firm, from November 2015 to August 2019. Prior to that position, Mr. Neils was at Grant Thornton LLP, an accounting and advisory organization, from September 2007 to November 2015, most recently as Audit Manager. Mr. Neils is a Certified Public Accountant. He holds a Bachelor of Science in Business in Accounting and a Master of Accountancy from the Carlson School of Management at the University of Minnesota.

 

About Xtant Medical Holdings, Inc.

 

Xtant Medical Holdings, Inc. (www.xtantmedical.com) is a global medical technology company focused on the design, development, and commercialization of a comprehensive portfolio of orthobiologics and spinal implant systems to facilitate spinal fusion in complex spine, deformity and degenerative procedures. Xtant’s people are dedicated and talented, operating with the highest integrity to serve Xtant’s customers.

 

The symbols ™ and ® denote trademarks and registered trademarks of Xtant Medical Holdings, Inc. or its affiliates, registered as indicated in the United States, and in other countries. All other trademarks and trade names referred to in this release are the property of their respective owners.

 

Investor Relations Contact

 

David Carey

Lazar FINN

Ph: 212-867-1762

Email: [email protected]

 

 

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