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THERMOGENESIS CORP.
 EMPLOYMENT AGREEMENT
for
John R. Chapman, Ph.D.
  Employment
 Position; Scope of Employment Exhibit A
 Entire Time and Effort provided
 Rules and Regulations
 Limitations Upon Authority to Bind Employer
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Term
 Compensation
 Base Salary
 Annual Review provided
 Cash/Stock Bonuses
 Vacation and Sick Leave
 Other Fringe Benefits
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Expenses
 Compensation From Other Sources
 Early Termination
 Definition of Cause
 Damages
 Compensation Upon Early Termination
 (a)
    
    If Employee resigns during the term of this Agreement (without mutual consent
of Employer), or if this Agreement is terminated by Employer for cause, Employee shall
be entitled to all accrued but unpaid Base Salary and vacation pay accrued
through the date of delivery of the notice of termination, and all non-vested
options shall be deemed canceled as of that date.
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(b)
    
    If Employee is terminated without cause, as defined in subsection (i) through
(vii) of Section 5 above, Employer shall pay to Employee as liquidated damages and in
lieu of any and all other claims which Employee may have against Employer the greater
of six (6) months of Employees salary excluding any amounts for benefits. Employers
payment pursuant to this subparagraph shall fully and completely discharge any and all
obligations of Employer to Employee arising out of or related to this Agreement and
shall constitute liquidated damages in lieu of any and all claims which Employee may
have against Employer not including any obligation under the workers compensation laws
including Employers liability provisions.
 
 (c)
    
    If Employees employment is terminated as a result of death or total
disability, Employee shall be entitled to accrued but unpaid Base Salary to date of
termination. The date of termination shall be deemed the date of death or, in the
event of disability, the date Employee qualified for total disability payments under
Employers long-term disability plan.(d)
    
    If Employees employment is terminated as a result of a Change in Control of
Employer, Employee shall be entitled to a lump-sum payment equal to three times
Employees Base Salary at the time. A Change in Control shall mean an event
involving one transaction or a related series of transactions in which one of the
following occurs: (i) Employer issues securities equal to 33% or more of Employers
issued and outstanding voting securities, determined as a single class, to any
individual, firm, partnership or other entity, including a group within the meaning
of Section 13(d)(3) of the Securities Exchange Act of 1934; (ii) Employer issues
securities equal to 33% or more of the issued and outstanding common stock of Employer
in connection with a merger, consolidation or other business combination; (iii)
Employer is acquired in a merger or other business combination transaction in which
Employer is not the surviving company; or (iv) all or substantially all of Employers
assets are sold or transferred.(e)
    
    Except as expressly provided in paragraph (d) above, all compensation
described in this Section 5.3 shall be due and payable in installments at least twice
monthly or at the time of the delivery of notice of termination, at Employers sole
discretion and election.
 Confidential Information of Customers of Employer
 Unfair Competition
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Trade Secrets
 Inventions; Ownership Rights
 Arbitration
 Actions Contrary to Law
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Miscellaneous
 Notices
 EMPLOYER:
    
    THERMOGENESIS CORP.2711 Citrus RoadRancho Cordova, CA 95742EMPLOYEE: John Chapman1414 Sutterville Road, #16Sacramento, CA 95822
 Attorneys Fees; Prejudgment Interest
 Choice of Law, Jurisdiction, Venue
 Amendment, Waiver
 Assignment; Succession
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Independent Covenants
 Entire Agreement
 Severability
 Captions
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EMPLOYER:THERMOGENESIS CORP.By:
    
    /s/ Philip H. CoelhoPhilip H. CoelhoChairman & Chief Executive OfficerBy:
    
    /s/ Hubert HuckelHubert Huckel, MD, Chairman, Compensation CommitteeEMPLOYEE:By:
    
    /s/ John ChapmanJohn Chapman, an individual
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EXHIBIT A
 EMPLOYEE POSITION DESCRIPTION
 FUNCTION: Vice President for Scientific Affairs
 Description of Office
  Job Description / Key Responsibilities:
  Specific responsibilities include:
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Education:
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