Exhibit 10.2

 

The securities represented hereby have not been registered under the Securities
Act of 1933, as amended, or any state securities laws and neither the securities
nor any interest therein may be offered, sold, transferred, pledged or otherwise
disposed of except pursuant to an effective registration statement under such
Act and such laws or an exemption from registration under such Act and such laws
which, in the opinion of counsel for the holder, which counsel and opinion are
reasonably satisfactory to counsel for this corporation, is available.

 

 

WARRANT CERTIFICATE

SERACARE LIFE SCIENCES, Inc.

 

Warrant No. 03

 

No. of Warrants: 4,500

 

 

This certifies that, for value received and subject to the terms and conditions
set forth herein, Henry S. Krauss or his registered assign (the “Warrant
Holder”) is the registered holder of four Thousand five hundred (4,500) Warrants
to purchase no par value common shares of Seracare Life Sciences, Inc.
(“Warrants”).

 

1. Exercise. The Warrants evidenced hereby may be exercised at a price of $5.00
per Warrant to acquire one (1) share of the common stock of SeraCare Life
Sciences, Inc. which is with no par value (the “Common Stock” and the “Company,”
respectively). (The Common Stock acquirable upon exercise hereof is referred to
herein as “Warrant Stock.”) If, at the time of any exercise of this Warrant, the
shares of common stock deliverable upon exercise of such Warrant shall not be
registered under the Securities Act, the Company may require, as a condition of
allowing such exercise, that the holder or transferee of such Warrant, furnish
to the Company an opinion of counsel of recognized standing in securities law,
to the effect that such exercise may be made without registration under the
Securities Act, provided that subject to receipt of the aforementioned opinion,
the exercise of the Warrant shall at all times be within the control of such
holder or transferee, as the case may be, and, if required by the Company, by
written representation that the shares being acquired by the exercise of the
Warrant are being purchased for investment and not for distribution;
acknowledging that such shares have not been registered under the Securities Act
of 1933, as amended (the “1933 Act”); and agreeing that such shares may not be
sold or transferred unless there is an effective Registration Statement for them
under the 1933 Act, or in the opinion of counsel to the Company such sale or
transfer is not in violation of the 1933 Act. No fractional shares may be
acquired upon exercise hereof.

 

2. Term of Warrant. This Warrant may be exercised at any time and from time to
time in whole or in part commencing immediately upon issuance and terminating on
the third anniversary of the date hereof unless extended by a majority vote of
the Board of Directors for such length of time as they, in their sole
discretion, deem reasonable and necessary.

 

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3. Redemption. These Warrants may not be redeemed.

 

4. Reservation of Common Stock. The Company agrees that the number of shares of
Common Stock sufficient to provide for the exercise of this Warrant upon the
basis set forth herein will at all times during the term of this Warrant be
reserved for the exercise hereof.

 

5. Manner of Exercise. Exercise may be made of all or any part of this Warrant
by surrendering this certificate, with the purchase form to be provided by the
Company, duly executed by the Warrant Holder or by the Warrant Holder’s duly
authorized attorney, plus payment of the exercise price therefor in cash at the
office of the Company or its designated assign.

 

6. Registration Rights. The shares underlying this Warrant shall have piggyback
registration rights and at the option of the Warrant Holder may be included in
any registration statement filed by the Company during the Term of this Warrant.

 

7. Issuance of Common Stock upon Exercise. The Company, at its own expense,
shall cause to be issued, within ten (10) days after exercise of this Warrant, a
certificate or certificates in the name or names requested by the Warrant Holder
representing the number of shares of Common Stock to which the Warrant Holder is
entitled upon such exercise. All shares of Common Stock or other securities
delivered upon the exercise of this Warrant shall be validly issued, fully paid
and non-assessable.

 

Irrespective of the date of issuance and delivery of any certificate
representing the shares of Common Stock upon the exercise of this Warrant, each
person in whose name any such certificate is to be issued will for all purposes
be deemed to have become the holder of record of the Common Stock acquired on
the date on which a duly executed notice of exercise of this Warrant and payment
for the number of shares exercised are received by the Company.

 

8. No Right as Stockholder. The Warrant Holder is not, by virtue of his
ownership of this Warrant, entitled to any rights whatsoever as a stockholder of
the Company.

 

9. Assignment. This Warrant may not be assigned without providing the Company an
opinion satisfactory to its counsel that an exemption from registration for the
transfer exists.

 

 

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10.    Miscellaneous.

 

(a)  Replacement of Options.    Upon receipt of evidence reasonably satisfactory
to the Company of the ownership of and the loss, theft, destruction or
mutilation of this Option and upon delivery of an indemnity agreement in an
amount reasonably satisfactory to the Company, or upon surrender and
cancellation of the mutilated Option, the Company will execute and deliver, in
lieu thereof, a new Option of like tenor.

 

(b)  Successors.    All the covenants, agreements, representations and
warranties contained in this Option shall bind the parties hereto and their
respective heirs, executors, administrators, distributees, successors and
assigns.

 

(c)  Change; Waiver.    Neither this Option nor any term hereof may be changed,
waived, discharged or terminated orally but only by an instrument in writing
signed by the party against which enforcement of the change, waiver, discharge
or termination is sought.

 

(d)  Headings.    The section headings in this Option are inserted for purposes
of convenience only and shall have no substantive effect.

 

(e)  Law Governing.    This Option is deliverable in the State of California and
shall for all purposes be construed and enforced in accordance with, and
governed by the internal laws of, the State of California, without giving effect
to principles of conflicts of laws.

 

IN WITNESS WHEREOF, the Company has caused this Warrant certificate to be signed
on its behalf by an authorized officer thereof, his signature to be attested to
by its Secretary, and its corporate seal to be hereunto affixed this 25th day of
September, 2001.

 

SERACARE LIFE SCIENCES, INC.

on behalf of the Company
and as Warrant Agent

By:

 

/s/    JERRY L. BURDICK       

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SCHEDULE OF WARRANTHOLDERS

 

The Company has issued warrants pursuant to the foregoing form to the following
individuals on the following terms:

 

Warrantholder

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Number of Common Stock Underlying Warrant

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Grant Date

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Exercise Price

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Exercise Date

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Expiration Date

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Arthur J. Niebauer

    

4,500

  

09.25.01

    

$

5.00

  

Immediately upon issuance

  

09.25.04

Daniel Luskind

    

4,500

  

09.25.01

    

$

5.00

  

Immediately upon issuance

  

09.25.04

John P. O’Shea

    

26,500

  

09.25.01

    

$

5.00

  

Immediately upon issuance

  

09.25.04

 

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