CRYOLIFE RESTRICTED STOCK AWARD AGREEMENT

Exhibit 10.3

  Your Name:  ___________________

Total No. of Shares:  ____________

CRYOLIFE RESTRICTED STOCK AWARD AGREEMENT

CRYOLIFE, INC. (“CryoLife”) is pleased to grant you the restricted stock award described below (“Stock Award”).  This grant is made subject to the further terms and conditions set forth in this Agreement and the terms of the CryoLife, Inc. 2008 Non-Employee Directors Omnibus Stock Plan (the “Plan”).

Grant Date:	__________
Total Number of Shares of Stock Award:	__________
Vesting Date:	__________

The following documents accompany this Award Agreement:

Additional Terms and Conditions of Your Restricted Stock Award describes transferability of your award, what happens if you cease to be a member of the CryoLife Board of Directors (the “Board of Directors” or “Board”) before all or a portion of your Stock Award vests, where to send notices and other matters.

The Plan contains the detailed terms that govern your Stock Award.  If anything in this Agreement or the other attachments is inconsistent with the Plan, the terms of the Plan, as amended from time to time, will control.

The Plan Prospectus Document covering the Stock Award contains important information, including federal income tax consequences.

Most Recent Annual Report of CryoLife (not attached if you previously received the Most Recent Annual Report).

Please sign below to show that you accept this Stock Award after review of the above documents.  Keep a copy and return both originals to Xxxxxxx X. Xxxxxxx, CryoLife, Inc., 0000 Xxxxxxx Xxxx., XX, Xxxxxxxx, XX 00000.

CRYOLIFE, INC.		GRANTEE:
		[Name and Address]
By:  ______________________________________________		______________________________________________
Name:		Print Your Name:
Its:		Date:
Date:

ADDITIONAL TERMS AND CONDITIONS OF YOUR

RESTRICTED STOCK AWARD

EFFECT OF TERMINATION OF SERVICE.  You must be a member of the CryoLife Board of Directors on the applicable vesting date to be entitled to the vesting of your Stock Award on such date.  Notwithstanding the foregoing, if you cease to be a member of the CryoLife Board of Directors as a result of your death or disability or because you have served out your full term but are not standing for re-election at the end thereof, your Stock Award shall immediately become fully vested on the date you cease to be a member of the Board.  If you cease to be a member of the CryoLife Board of Directors for any other reason, and your Stock Award has not vested as of the date of termination of Board service, your Stock Award shall automatically be forfeited and cancelled as of the date of such termination of Board service.

STOCK AWARD SHARE CERTIFICATES.  Certificates representing the shares of Common Stock to be issued pursuant to the Stock Award shall be issued in your name and shall be held by CryoLife until the Stock Award is vested or forfeited as provided herein.  Following vesting of your Stock Award, upon your written request, CryoLife shall promptly deliver to you a certificate or certificates representing the shares as to which the Stock Award has vested, free of the restrictions described in the following section.  Your rights in your Stock Award are contingent upon your executing and returning to the Company a form of stock power with respect to the shares subject to your Stock Award.

RIGHTS WITH RESPECT TO STOCK AWARD PRIOR TO VESTING.  You may not transfer your Stock Award or the shares to be issued hereunder prior to vesting.  Once this Stock Award vests, you may receive transferable certificates representing the vested portion.  Prior to vesting, you are entitled to all other rights as a shareholder with respect to the shares underlying the Stock Award, including the right to vote such shares and to receive dividends and other distributions, if any, payable with respect to such shares after the date of grant.

NOTICES.  All notices delivered pursuant to this Agreement shall be in writing and shall be (i) delivered by hand, (ii) mailed by United States certified mail, return receipt requested, postage prepaid, (iii) sent by an internationally recognized courier which maintains evidence of delivery and receipt, (iv) sent by fax to (000) 000-0000, or (v) sent by email to xxxxxxx.xxxxxxx@xxxxxxxx.xxx.  All notices or other communications shall be directed to the following addresses (or to such other addresses as such parties may designate by notice to the other parties):

	To CryoLife:	CryoLife, Inc.
		0000 Xxxxxxx Xxxx., XX
		Kennesaw, GA 30144
		Attention:  Secretary

To you: The address set forth in the Agreement

MISCELLANEOUS.  Failure by you or CryoLife at any time or times to require performance by the other of any provisions in your Restricted Stock Award Agreement (“Agreement”) will not affect the right to enforce those provisions.  Any waiver by you or CryoLife of any condition or of any breach of any term or provision in this Agreement, whether by conduct or otherwise, in any one or more instances, shall apply only to that instance and will not be deemed to waive conditions or breaches in the future.  If any court of competent jurisdiction holds that any term or provision of this Agreement is invalid or unenforceable, the remaining terms and provisions will continue in full force and effect, and thus Agreement shall be deemed to be amended automatically to exclude the offending provision.  This Agreement may be executed in multiple copies and each executed copy shall be an original of this Agreement.  This Agreement shall be subject to and governed by the laws of the State of Georgia.  No change or modification of this Agreement shall be valid unless it is in writing and signed by the party against which enforcement is sought, except where specifically provided to the contrary herein.  This Agreement shall be binding upon, and inure to the benefit of, the permitted successors, assigns, heirs, executors and legal representatives of the parties hereto.  The headings of each section of this Agreement are for convenience only.  This Agreement, together with the Plan, contains the entire Agreement of the parties hereto, and no representation, inducement, promise, or agreement or other similar understanding between the parties not embodied herein shall be of any force or effect, and no party will be liable or bound in any manner for any warranty, representation, or covenant except as specifically set forth herein or in the Plan.