exv10w1w5






Exhibit 10.1.5





 





1935 Avenida del Oro • Tel. (760) 806-8922

Oceanside, CA 92056 • Fax. (760) 806-8933

www.scracare.com




Sept 29, 2006




Bill Smutny

260 Country Ridge Rd

Laurel Park, NC 28739

503-819-2777




Dear Bill,



SeraCare Life Sciences, Inc. is very pleased to offer you the full-time, exempt position titled
Vice President, Sales & Marketing starting as soon as possible and contingent upon several items
identified below. Your direct supervisor will be Susan L.N. Vogt, CEO. You will work out of our
West Bridgewater location but may be required to travel as business needs dictate.



Compensation for this position will be:




	 	 	 
	Base wage

	 	$3,557.69/week which annualizes to $185,000
	 
	 	 
	Options

	 	70,000 options, pending Board of Director approval. These options, once
approved, will have a 3-yr vesting schedule and the price will be determined by
the date of BOD approval. If the current situation prevents the Company from
awarding these options, we will put in place an incentive program that will shadow
the objectives of the option award.
	 
	 	 
	Potential Bonus

	 	FY’07 — target incentive bonus of 30% of base annualized wage based on goals
for FY’07 that will be jointly established within 45 days of DOH, with 50% target bonus
guaranteed for FY’07 contingent upon continuous employment through FY’07.





In addition to your base wage, you will immediately be eligible for the following benefits:





	 	•	 	Group Travel Accident Insurance
	 
	 	•	 	Access to the SeraCare Employee Assistance Program
	 
	 	•	 	Referral Bonus Program
	 
	 	•	 	Approximately 10 Paid Holidays/Year




The first of the month following your date of hire you will be eligible for the following benefits:





	 	•	 	Major Medical and Prescription Drug Plan through CIGNA, with two plan choices of either Open
Access Plus (in and out of network providers) or HMO Open Access (network providers only)
	 
	 	•	 	Dental Plan through Delta Dental
	 
	 	•	 	Pre-Tax Plan For Employee Health Insurance Contributions
	 
	 	•	 	Life and AD&D Insurance
	 
	 	•	 	Long Term Disability Insurance
	 
	 	•	 	“Paid Time Off” for Vacation/Sick/Personal Leave — “Paid Time Off” for Vacation/Sick/Personal Leave
 — Paid time off (PTO) may be used for approved vacation, sick or personal time. Your accrual
rate has
been accelerated and will begin with 6.45 hours per pay period, or 21 days/year. Following
an
employee’s 6th anniversary, the accrual rate will increase to 7.08 hours per pay
period, or 23 days/year.
Following an employee’s 10th anniversary, the accrual rate will increase to 7.69 hours per
pay period, or
25 days/year. Following an employee’s 15th anniversary, the accrual rate will
increase to 8.62 hours per
pay period, or 28 days/year.




After 90 days of continuous employment, you will receive the following benefits:





	 	•	 	Access to the SeraCare Life Sciences 401(k) Profit Sharing Plan, which has a Company
match program based on the profitability of the Company, awarded at the discretion of the
Board of Directors.




 









 












 





1935 Avenida del Oro • Tel. (760) 806-8922

Oceanside, CA 92056 • Fax. (760) 806-8933

www.seracare.com




     Page 2 —Bill Smutny Vice President, Sales & Marketing


After six months of continuous employment, you will be eligible for the
following benefits:





	 	•	 	Flexible Spending Account(s) for Dependent Care
and/or Medical Expenses




In addition, after one year of continuous employment, you will be eligible for the
following additional benefit:





	 	•	 	Short Term Disability Insurance




From time to time, employment policies and benefit plans may be amended and changed in accordance
with normal business practices.



Please note that the offer we are presenting you is contingent upon several items: (1)
satisfactory verification of your eligibility to work in the United States; (2) your confirmation
that you are not subject to any confidentiality or non-competition agreements or any other similar
type of restriction that would affect your ability to devote your full-time attention to work for
SeraCare Life Sciences. Inc. and finally, (3) as with all employees of SeraCare Life Sciences,
Inc., you will be asked to sign an Employee Confidentiality Agreement which is enclosed. In order
to expedite the first item, a copy of the Immigration and Naturalization Form 1-9, required of
all employees, is enclosed for your review. Please review the list of documentation options and
bring original documents with you on your first day of employment.



As an employee of SeraCare Life Sciences, Inc., you will be an “at-will” employee. This means that
you will not be obligated to continue to remain employed by the Company for any specified period
of time, and likewise, the Company will not be obligated to continue your employment for any
specific period and as such, either you or SeraCare Life Sciences, Inc may terminate your
employment at any time, with or without notice and with or without cause.



As previously mentioned, for all new employees there is a 90-day Introductory Period. This is a
particularly important period to understand the expectations and requirements of this position, as
well as your ability to meet them. During this period your supervisor will provide regular
feedback to assist both you and the Company in evaluating your performance. You will receive a
90-day Performance Evaluation and if successful you will enter the regular cycle of SeraCare’s
Performance Management Program (PMP). Following this introductory period, you will be considered
a regular full-time employee. As a member of senior management, you will receive performance
feedback after the conclusion of the fiscal year based on the results of that fiscal year. Salary
reviews for management are based on many factors including performance, departmental status,
financial status of the company, market analysis, etc. and are not guaranteed although
historically, they occur once/year across the Company. You will receive more details on this
program, but in the meantime, please feel free to contact me with any questions you may have in
this regard.



We are looking forward to you joining the SeraCare management team, and look forward to you making
a valuable contribution to the Company. Thank you for verbally accepting this position. You will
need to sign and return this letter to me indicating your formal acceptance of the position as
offered as soon as possible.



Should you have any questions, please do not hesitate to call me at (888) 256-1180. x 196. I look
forward to hearing from you.



Employee Acceptance:




	 	 	 	 	 	 	 
	Sincerely,
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	/s/ Kathi Benjamin
	Signature: 	 /s/ William Sumutny
	 	Date: 10/2/06
	Kathi Benjamin, VP, Human Resources

	 	 	 	 	 	 







	Cc: 	 	Susan L.N. Vogt, CEO