Document:

<PAGE>   1
                                                                    EXHIBIT 10.h

     The EMPLOYMENT AGREEMENT originally dated October 1, 2000, is hereby
amended and restated in its entirety as of the 1st day of October, 2000 by and
between CRYOMEDICAL SCIENCES, INC., a Delaware corporation (hereinafter
referred to as the "Company"), and John G. Baust, residing at 175 Raish Hill
Road, Candor, NY 13743 (hereinafter referred to as "Employee").

                              W I T N E S S E T H:

     WHEREAS, the Company desires to employ Employee, and Employee is willing
to accept such employment, all on the terms and subject to the conditions
hereinafter set forth.

     NOW, THEREFORE, in consideration of the terms and conditions hereinafter
set forth, the parties hereto agree as follows:

     1.   Employment

          The Company hereby employs Employee, and Employee hereby accepts
employment with the Company, as Senior Vice President and Chief Scientific
Officer, on the terms and conditions herein set forth.

     2.   Term of Agreement

          Unless terminated sooner pursuant to the express provisions hereof,
the term of employment hereunder shall commence on the date hereof (the
"Commencement Date"), shall continue through September 30, 2001 (the "Original
Term"), and shall be automatically extended for two additional one-year periods
upon the terms and subject to the conditions contained herein, unless (a) the
Original Term is terminated pursuant to Section 6 hereof (or otherwise), or
(b) not less than 90 days prior to the commencement of any such one year period
the Company notifies

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<PAGE>   2
Employee, in writing, that the term of employment shall not be
extended. The period commencing with the Commencement Date through
the end of the term of Employee's employment hereunder is hereinafter
referred to as the "Employment Period."

    3. Duties

       During the Employment Period, Employee shall perform such
functions as are normally carried out by the Senior Vice President
and Chief Scientific Officer of a business of the type in which the
Company is engaged, and such other functions as the Chairman and CEO
shall from time to time reasonably determine. Employee shall devote
his time, energies and abilities to the Company's business pursuant
to, and in accordance with, reasonable business policies and
procedures, as fixed from time to time by the Board. Nothing contained
herein shall preclude the Employee from devoting his time, energies
and abilities to his position at SUNY-Binghamton. Employee covenants
and agrees that he will faithfully adhere to and fulfill such
policies as are established from time to time by the Chairman and
CEO. Employee shall not be assigned, by the Chairman and CEO,
responsibilities, in any material manner, inconsistent with his
position as Senior Vice President and Chief Scientific Officer.

    4. Compensation

       4.1 During the Employment Period, Employee's base salary shall
be in the amount of $180,000 per annum, payable in accordance with
the Company's normal payroll procedures.

       4.2 During the Employment Period, in addition to Employee's
base salary, Employee shall be entitled to bonuses as follows:

       (a) Upon commercial shipment of the "800" Series-$15,000

       (b) Upon receipt of 510(k) approval for abdominal organ
solutions-$15,000

       (c) Upon receipt of 510(k) approval for islet preservation
solution-$15,000.

       4.3 During the Employment Period, Employee shall be entitled
to a non

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<PAGE>   3
accountable automobile allowance of $600.00 per month.

          4.4  Employee shall also be eligible, to the extent he qualifies, to
participate in such fringe benefit plans (including retirement, pension, life
or other similar employee benefit plans), if any, which the Company may from
time to time make available to its employees, provided that the Company shall
have the right from time to time to modify, terminate or replace any and all of
such plans.

          4.5  The Company shall reimburse Employee on a timely basis for all
reasonable business expenses incurred by Employee in connection with the
performance of his duties hereunder, provided Employee submits supporting
vouchers for such expenses.

          4.6  Employee shall be entitled to a four week paid vacation each
year during the Employment Period, to be taken at such time as is consistent
with the needs of the Company and the convenience of Employee.

     5.   Stock Options

          Employee shall be entitled to stock options as may from time to time
be granted by the Board of Directors of the Company in their sole and absolute
discretion.

     6.   Termination

          The Employment Period shall terminate upon the happening of any of
the following events:

          6.1  Automatically and without notice upon the death of Employee.

          6.2  Employee leaves the employ of the Company.

          6.3  Upon written notice of termination from the Chairman and CEO
and the Board of Directors of the Company to Employee in the event that
Employee becomes physically or mentally disabled ("Disability") during the
Employment Period such that (a) in the Chairman's and CEO's and the Board's
good faith judgment, Employee is permanently incapable of properly performing
the duties customarily performed by him hereunder, or (b) such Disability
lasts for a

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<PAGE>   4
period of 60 consecutive days or 90 days in any 150 day period and the Board
elects to treat such Disability as being permanent in nature;

          6.4 Upon discharge of Employee, on written notice, by the Chairman
and CEO and the Board for cause. For purposes of this Agreement, "cause"
shall mean the following: the commission of a felony, crime involving moral
turpitude or other act causing material harm to the Corporation's standing and
reputation, failure to carry out, after reasonable written notice of such
failure, the reasonable policies of the Chairman and CEO as they may relate
to Employee's duties hereunder (other than for reasons beyond his control),
persistent absenteeism, a material default or breach of any of the covenants
made by Employee in this Agreement, a breach of Employee's duty of loyalty to
the Company or any act of dishonesty or fraud with respect to the Company, or
the wilful engaging by Employee in misconduct materially injurious to the
Company.

          6.5 In the event any one of the foregoing events shall occur, the
Company shall be obligated to pay to Employee the compensation due him under
Section 4 hereof up to the date of termination only and Employee shall not be
entitled to receive any additional compensation of any nature whatsoever.

          6.6 In the event that Employee's employment with the Company is
terminated by the Chairman and CEO and the Board during the Employment Period
for a reason other than as is set forth above in Sections 6.1 through 6.4, the
Company shall be required to continue to pay Employee the salary provided for
in Section 4.1 hereof for a period of one (1) year.

     7. Non Competition

          7.1 In view of the unique and valuable services that Employee has
rendered and is expected to render to the Company, the Employee's knowledge of
the business of the Company and proprietary information relating to the
business of the Company and similar knowledge regarding the Company that
Employee has obtained and is expected to obtain during the course of
<PAGE>   5
his employment with the Company and in consideration of the compensation to be
received by Employee hereunder, Employee agrees that (a) during the Employment
Period and for a period of twenty four months immediately following the
termination or expiration thereof (the Employment Period and the subsequent
twenty four month period being hereinafter collectively referred to as the
"Covenant Period"), he will not compete with, or, directly or indirectly, own,
manage, operate, control, loan money to, or participate in the ownership,
operation or control of, or be connected with as a director, partner,
consultant, agent, independent contractor or otherwise, or acquiesce in the use
of his name in any other business or organization which is in competition with
the Company in any geographical area in which the Company is then conducting
business or any geographical area in which, to the knowledge of Employee at the
time of cessation of employment, the Company plans to conduct business within
twenty four months from the date thereof; provided, however, that Employee
shall be permitted after the cessation of his employment but during the
Covenant Period to own less than a 5% interest as a shareholder in any company
which is listed on any national securities exchange even though it may be in
competition with the Company, and (b) during the Covenant Period, he will not,
directly or indirectly (through the use of students or otherwise), perform
services that in any manner benefits a competitor of the Company in the field
of tissue, cell or organ preservation; provided that Employee may participate
in University sponsored lectures that may indirectly have the effect of
benefiting competitors of the Company.

          7.2  Employee will not, during the Covenant Period, solicit or
interfere with, or endeavor to entice away from the Company, any of its
employees or customers without the written consent of the Company or unless
such employee is Employee's personal secretary.

          7.3  Since a breach of the provisions of this Section 7 could not
adequately be compensated by money damages and will cause irreparable injury to
the Company, the Company shall be entitled, in addition to any other right or
remedy available to it, to an injunction or restraining order restraining such
breach or a threatened breach, and no bond or other security shall

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<PAGE>   6
be required in connection therewith, and Employee hereby consents to the
issuance of any such injunction or restraining order. Employee agrees that the
provisions of this Section 7 are reasonable and necessary to protect the
Company and its business. It is the desire and intent of the parties that the
provisions of this Section 7 shall be enforced to the fullest extent permitted
under the public policies and laws applied in each jurisdiction in which
enforcement is sought. If any restriction contained in this Section 7 shall be
deemed to be invalid, illegal or unenforceable by reason of the extent,
duration or geographical scope thereof, or otherwise, then the court making
such determination shall have the right to reduce such extent, duration,
geographical scope or other provision hereof and in its reduced form such
restriction shall then be enforceable in the manner contemplated hereby.

          7.4  No provision of this Agreement shall be deemed to preclude
Employee from serving as a director on the board of companies not in
competition with the Company or of charitable organizations, provided, that any
such directorship or consulting activities do not reduce Employee's ability to
attend to his duties on behalf of the Company.

     8.   Entire Agreement

          The provisions hereof and the agreements referred to herein
constitute the entire agreement between the parties with respect to the
subject matter hereof and supersede any prior oral understanding, and no
modification, supplement or discharge hereof shall be effective unless in
writing and executed on behalf of the Company and Employee.

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<PAGE>   7
     9.   Assignability

          This Agreement, and its rights and obligations may not be assigned by
Employee. The Company may assign any of its rights and obligations hereunder
to (a) Biolife Solutions, Inc., an affiliate of the Company, and (b) a
successor or surviving corporation resulting from a merger or consolidation of
the Company, the sale by the Company of all or substantially all of its assets
or other similar corporate reorganization, upon condition that (i) the assignee
shall assume, either expressly or by operation of law, all of the Company's
obligations hereunder, and (ii) in the event the shareholders of the Company do
not own more than fifty percent (50%) of the voting rights of the new entity,
the Employee shall have consented to such assignment.

     10.  Waiver

          No waiver by either party of any condition, term or provision of this
Agreement shall be deemed to be a waiver of any prior or succeeding breach of
the same or of any other condition, term or provision thereof.

     11.  Notices

          All notices required or permitted to be given by either party
hereunder shall be in writing and mailed by registered mail, return receipt
requested, to the other party at the address set forth above or such different
address as may be given by notice as provided for herein. Any notice mailed as
provided above shall be deemed given seven (7) days after the date of mailing
or on the date of receipt, whichever is sooner.

     12.  Counterparts

          This Agreement may be executed in several counterparts, each of
which shall be deemed an original but all of which together shall constitute
one and the same instrument.

     13.  Construction

          This Agreement shall be construed in accordance with the laws of the
State of Delaware.

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<PAGE>   8

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement
on the day and year first above written.

                                  /s/ JOHN. G. BAUST
                                  ----------------------------------
                                  JOHN G. BAUST

                                  CRYOMEDICAL SCIENCES, INC.

                                  By:
                                      ------------------------------
                                      RICHARD J. REINHART
                                      CHAIRMAN AND CEO

APPROVED
FOR THE BOARD OF DIRECTORS
BY:
    ----------------------

                                  8<PAGE>   1
                                                                 EXHIBIT 10.i

                    STATE UNIVERSITY OF NEW YORK AT BINGHAMTON
                                  INCUBATOR LICENSE

     License made this first day of March 1999 by and between THE RESEARCH
FOUNDATION OF STATE UNIVERSITY OF NEW YORK, a nonprofit, educational
corporation existing under the laws of the State of New York, having its
principal place of business located at State University Plaza, Broadway,
Albany, New York 12246 (mailing address: Office of Research and Sponsored
Programs, P.O. Box 6000, Binghamton, New York 13902-6000) hereinafter referred
to as "FOUNDATION", acting on behalf of the State University of New York at
Binghamton, (hereinafter referred to as "BINGHAMTON) and BioLife Technologies,
Inc. having its principal place of business located at 1300 Piccard Drive,
Suite L-105, Rockville, MD 20850 (hereinafter referred to as LICENSEE).

     WHEREAS, the LICENSEE has developed competence and expertise in technical
matters relating to preservation of cells, tissues and organs and the methods
and techniques for use thereof as well as all applications of the Licensee's
technology including, but not limited to, the Hypothermosol(R) line of
solutions and all cryomedical based technology described in issued patents or
pending patent applications relating to preservative solutions or other cryo
related technologies (hereinafter referred to as the "FIELD); and

     WHEREAS, BINGHAMTON wishes to promote and foster campus-industry
collaboration in the FIELD; and

     WHEREAS, BINGHAMTON wishes to make available to its faculty and students
additional opportunities for practical application and study in the FIELD; and

     WHEREAS, the LICENSEE qualifies as a start-up company in the FIELD, as
provided in the January 22, 1986, Resolution of the State University of New
York Board of Trustees and the Incubator Guidelines of BINGHAMTON; and

     WHEREAS, by terms of the Agreement which was entered into between the
State University of New York and the FOUNDATION on June 1, 1977, the State
University of New
<PAGE>   2
York has delegated to the FOUNDATION authority to administer funds and to
utilize University facilities in connection with the conduct of research and
research-related programs; and

     WHEREAS, LICENSEE has been organized for the purpose of undertaking
research and development in areas related to the FIELD and requires certain
incubator facilities for housing and servicing such activities; and

     WHEREAS, BINGHAMTON has such facilities available on the campus; and

     WHEREAS, the parties desire to enter into an agreement whereby BINGHAMTON,
acting through the FOUNDATION, will make such facilities available to the
LICENSEE as described in general in the Application for Use of Incubator
Facilities set forth in Exhibit A;

     NOW, THEREFORE, be it known that a License is hereby granted to LICENSEE,
subject to the terms and conditions as hereinafter provided, to use the
facilities and services designated in this License.

     1.   BINGHAMTON shall supply all ordinary and necessary water, gas, and
     electrical services, heat and sewage services for premises. Telephone
     services will be provided in accordance with BINGHAMTON policy at the
     expense of the LICENSEE. LICENSEE may avail itself of other on-site
     services at the established third-party rates. LICENSEE may request
     upgrades of campus facilities to conduct its operations, and if approved
     by FOUNDATION, FOUNDATION will work with LICENSEE to arrange the upgrade.
     FOUNDATION shall not unreasonably deny such requests by LICENSEE.
     LICENSEE shall pay the FOUNDATION and/or BINGHAMTON, in advance, for the
     cost of any and all capital upgrades that are requested by LICENSEE.

     2.   LICENSEE shall pay an occupancy fee to FOUNDATION, in an amount that
     is the product of multiplying the number of square feet occupied by
     LICENSEE by the factor of $15.00 per square foot per year during the term
     of this License. It is initially estimated that LICENSEE will occupy 720
     square feet of space which will result in the LICENSEE
<PAGE>   3
regulations and policies and all laws, rules, orders, regulations, and
requirements of federal, State and municipal governments applicable hereto.
LICENSEE shall obtain and keep in force at its sole cost and expense any
permits or Licenses that may be required in this jurisdiction for conduct of
its operations.

6.  LICENSEE agrees that the issuance of this LICENSE shall in no way diminish
the statutory authorization of the State University of New York and BINGHAMTON
to possession, pursuant to State Education Law, of State property to which this
License relates; nor shall the dominion and control by BINGHAMTON over the said
State property be in any way diminished.

7.  LICENSEE specifically agrees that this License does not create the
relationship of landlord and tenant between FOUNDATION, the State of New York
or the State University of New York and LICENSEE regarding the use of State
controlled property to which this License relates. Further, the relationship of
LICENSEE to the FOUNDATION, the State of New York or the State University of
New York arising out of this LICENSE shall not be that of employee-employer but
that of independent contractor.

8.  LICENSEE specifically agrees that this LICENSE shall be void and of no
further force and effect upon any use of State-controlled property to which
this LICENSE relates which is inconsistent with State law or which in any way
conflicts with the purposes or objectives of BINGHAMTON. In the event such an
inconsistency or conflict arises BINGHAMTON shall notify LICENSEE of the
inconsistency or conflict and LICENSEE shall have a period of 30 days in which
to correct the identified inconsistency of conflict.

9.  LICENSEE specifically agrees to pay all costs related to the
rehabilitation and construction of offices that LICENSEE requests, and that
BINGHAMTON has approved.
<PAGE>   4
BINGHAMTON shall not unreasonably withhold such approval and BINGHAMTON shall
not be required to provide furnishings, fixtures or decorations.
Notwithstanding the foregoing, BINGHAMTON agrees to provide LICENSEE with
access to and normal use of furnishings and equipment set forth in Exhibit A of
this License. In consideration for such use, LICENSEE agrees to pay BINGHAMTON
the monthly sum of one hundred and five dollars ($105) which is one-twelfth of
the annual estimated depreciation* cited in Exhibit A. Upon termination of the
License, LICENSEE shall be required to return furnishings and equipment listed
in Exhibit A in the condition assigned, normal wear and tear excepted. The
first monthly payment is due as of the effective date of this License. In
addition, LICENSEE shall be required to restore the premises to their original
condition, normal wear and tear excepted, unless otherwise agreed upon by the
parties. At its sole cost and expense, LICENSEE may remove any furnishings,
fixtures and decorations belonging to LICENSEE.

                                                  * of equipment listed in
                                                    Item 9,

10.  The LICENSEE shall have the right, so long as this License shall remain in
force to enter upon the BINGHAMTON campus for the purposes set forth in this
License. However, if in the judgement of FOUNDATION, in consultation with the
State University of New York and BINGHAMTON, any activity of LICENSEE or its
personnel or clients is deemed incompatible with the purpose of this LICENSE or
the best interests of the FOUNDATION, the State University of New York or
BINGHAMTON, then the FOUNDATION shall give written notice to LICENSEE of any
such incompatibility or conflict in interests and LICENSEE shall have a period
of 30 days to correct the identified incompatibility or conflict in interest.
If the incompatibility is not corrected with in the 30 day period then the
FOUNDATION may immediately terminate this License without liability of any
kind, and LICENSEE and its personnel shall promptly vacate the Licensed
premises within a 30 day period. Both the FOUNDATION and BINGHAMTON
specifically acknowledge and understand that the LICENSEE is subject to
inspections of the
<PAGE>   5
LICENSEE'S activities in the space occupied by the LICENSEE by the Food and
Drug Administration for purposes of compliance with the regulations of the Food
and Drug Administration as they pertain to the activities of the LICENSEE.

11.  LICENSEE specifically agrees not to hold itself out as representing the
FOUNDATION, the State of New York, the State University of New York, or
BINGHAMTON in connection with the use of State-owned property to which this
License relates, nor shall the name of the FOUNDATION, the State of New York,
the State University of New York, or BINGHAMTON be used by LICENSEE for any
purpose without prior, specific written approval of the party whose name is to
be used. Notwithstanding the above provision all parties to this License
specifically acknowledge and understand that LICENSEE shall not be restricted
from reporting on the nature of its relationship with BINGHAMTON and the
FOUNDATION as required by SEC, NASDAQ and other oversight bodies and regulatory
agencies in forms of dissemination of information consistent with the normal
and accepted business practices of publicly held companies.

12.  LICENSEE assumes all risks incidental to its use of Licensed facilities,
appurtenances and surrounding grounds, and shall be solely responsible for any
and all accidents and injuries to persons (including death) and property damage
arising out of or in connection with such activities if caused by the actions
of LICENSEE, its officers, employees, agents or assigns, and hereby covenants
and agrees to indemnify and hold harmless the FOUNDATION, the State of New
York, the State University of New York, and BINGHAMTON and their respective
officers, employees, agents and assigns, from any and all claims, suits,
actions, damages and costs of every nature and description arising out of or
relating to the said use. LICENSEE further agrees, upon request, to assume the
defense and to defend, at its own cost and expense, any action brought at any
time against
<PAGE>   6
the FOUNDATION, the State of New York, or the State University of New York with
respect to such claims, suits, and losses.

13.  LICENSEE agrees to provide evidence of appropriate insurance of the type
and in the amounts set forth in Exhibit B of this License, naming the
FOUNDATION, the State of New York, State University of New York and BINGHAMTON
as additional insureds.

14.  LICENSEE specifically agrees that if this License is canceled or
terminated for any reason, LICENSEE shall have no claim against the Foundation,
the State of New York, State University of New York, and BINGHAMTON nor their
respective officers or employees, and further that the FOUNDATION, the State of
New York, State University of New York and BINGHAMTON and their officers,
employees, agents and assigns shall be relieved from any and all liability.

15.  Any notice to either party hereunder must be in writing, signed by the
party giving it, and shall be served either personally or by registered mail
addressed as follows:

     TO:  FOUNDATION
          Stephen A. Gilje, Associate Vice Provost
          Office of Research & Sponsored Programs
          The Research Foundation of SUNY at Binghamton
          P.O.Box 6000
          Binghamton, NY 13902-6000
<PAGE>   7
     TO:  LICENSEE
          Richard J. Reinhart, President and CEO
          BioLife Technologies, Inc.
          1300 Piccard Drive, Suite L-105
          Rockville, MD 20850

     All Notices become effective upon receipt.

16.  This License, including any Exhibits and Appendices, constitutes the
entire agreement between the parties hereto and all previous communications
between the parties, whether written or oral, with reference to the subject
matter of this License is hereby superseded.

17.  The term of this License shall be from March 1, 1999 through February
28, 2000, unless terminated earlier by either party or extended in writing in
accordance with the terms of this LICENSE. Subject to the approval of the
Advisory Committee for Scholarship and Research and the Vice Provost for
Research and Outreach, LICENSEE may be granted an option to renew this
agreement by providing written notice of its intent to renew to FOUNDATION
sixty (60) days prior to expiration of this License  If this option is
exercised by LICENSEE, the fee for the renewal period may be modified, but in
no case will the new fee increase by more than 5% of the amount paid under this
License.

     Either party may terminate this License by giving thirty (30) days written
notice of termination to the other, provided such termination notice is
predicated upon a mutually agreed upon alternative for the LICENSEE and a
satisfactory termination procedure for the FOUNDATION and BINGHAMTON.

18.  In addition to those otherwise set forth herein, this License is subject
to the following terms and conditions:
<PAGE>   8
a)   LICENSEE shall meet at least annually with FOUNDATION, at a time mutually
     determined by FOUNDATION and LICENSEE, for the purpose of reviewing the
     status of this License.

b)   General institutional services and all computer and computer-related
     services provided to the LICENSEE by BINGHAMTON must be paid for within
     30 days after LICENSEE receives invoice for such services.

c)   LICENSEE may provide employment opportunities by hiring students during
     the academic year and the summer.

d)   Faculty and staff are permitted to consult with LICENSEE in strict
     accordance with the policies and guidelines of FOUNDATION and BINGHAMTON.
     LICENSEE will execute formal consulting agreements with faculty/staff and
     provide copies of such agreements to the Advisory Committee for Scholarship
     and Research.

e)   LICENSEE may submit proposals for collaborative efforts and joint ventures
     to BINGHAMTON for mutual benefit. Accepted proposals will be administered
     by separate contracts which shall in no way diminish or change any
     provision of this License.

f)   All faculty, staff and students whose services are retained by the
     LICENSEE shall sign jointly with the FOUNDATION and the LICENSEE a Letter
     of Notification and Agreement acknowledging the scope and assignments
     contained within this License and shall waive all claims to the technology,
     its improvements, new discoveries and like activities of the LICENSEE made
     within the licensed facilities.

g)   BINGHAMTON and the FOUNDATION specifically acknowledge and understand that
     the LICENSEE intends to apply for a DOC NIST Advanced Technology Program
     multi-year grant and various SBIR/STTR grants in which BINGHAMTON and the
     FOUNDATION will share involvement. All parties to this License acknowledge
     and understand that the award of these
<PAGE>   9
                                   EXHIBIT A

               A)   STATE UNIVERSITY OF NEW YORK AT
                    BINGHAMTON - APPLICATION FOR
                    USE OF INCUBATOR FACILITIES

               B)   BIOLIFE TECHNOLOGIES BUSINESS
                    PLAN: DESCRIPTION OF THE
                    PRESERVATION SOLUTIONS
                    BUSINESS (CONFIDENTIAL
                    DOCUMENT)

               C)   NEWS RELEASE
<PAGE>   10
                                  EXHIBIT A (a)

                   STATE UNIVERSITY OF NEW YORK AT BINGHAMTON

                  APPLICATION FOR USE OF INCUBATOR FACILITIES

     1.   COMPANY NAME: BioLife Technologies

     2.   CURRENT COMPANY ADDRESS: 1300 Piccard Drive
                                   Rockville, MD 20850-4303

     3.   PRINCIPAL OFFICERS:

          Name                     Address                  Telephone number
          ----                     -------                  ----------------

          Richard J. Reinhart      1300 Piccard Drive       (301)417-7070
          President and CEO        Rockville, MD 20850

     4.   PERIOD OF OCCUPANCY REQUESTED:

          12 months

     5.   FACILITIES REQUESTED (STATE BUILDING AND ROOM NUMBERS):

          Science III Rooms 107, 143a, 144, 147, 149 and 194

     6.   EXPLAIN PRIMARY ACTIVITIES/RESEARCH/PRODUCTS OF
          COMPANY:
          (ATTACH ADDITIONAL SHEETS IF NEEDED)

          See attached news release

     7.   EXPLAIN NEED FOR FACILITIES AND WAYS IN WHICH COMPANY CAN BENEFIT
          FROM CAMPUS ACADEMIC PROGRAMS OR RESEARCH ACTIVITIES OF FACULTY, STAFF
          AND STUDENTS:

          BioLife Technologies needs both laboratory space and molecular
          biology instrumentation to launch its research and development
          program. The laboratory space (re: #5) currently houses all the
          appropriate instrumentation thereby decreasing start-up costs by as
          much as $50,000.
<PAGE>   11
8.   EXPLAIN WAYS IN WHICH COMPANY WILL STIMULATE EMPLOYMENT OPPORTUNITIES FOR
     STUDENTS AND CONSULTING AND COLLABORATIVE RESEARCH ACTIVITIES WITH FACULTY:

     The presence of BioLife Technologies on campus will serve as a nucleating
     point for faculty, staff and students who would like to associate with
     biotechnology companies. As part of this agreement, BioLife Technologies
     will sponsor a Biotechnology Undergraduate Network -- a campus organization
     dedicated to helping undergraduates secure careers in the biotechnology
     industry. Dr. Van Buskirk has already initiated this project.

9.   OUTLINE NEEDS FOR COLLEGE RESOURCES/SERVICES. (BE SPECIFIC, AS THIS
     DESCRIPTION WILL SERVE AS THE BASIS FOR ASSESSING FINANCIAL CHARGES.)

     We will need to use a laminar flow hood, a CytoFluor II, a cell culture
     incubator, gel electrophoresis systems and possibly a Western Blot
     apparatus.

10.  SUBMIT BUSINESS PLANS INDICATING THE POTENTIAL FOR FUTURE EMPLOYMENT AND
     FOR RELOCATION TO NON-UNIVERSITY SPACE WITHIN A REASONABLE PERIOD OF TIME.
     THE BUSINESS PLAN SHOULD ADDRESS ANY FINANCIAL, LEGAL OR REGULATORY RISKS
     INHERENT IN THE COMPANY'S ACTIVITY. IF THE BUSINESS PLAN INVOLVES THE USE
     OF HUMAN OR ANIMAL SUBJECTS, BIOHAZARDS, CHEMICAL WASTES, RADIOACTIVE
     MATERIAL, CARCINOGENS, ETC., THE COMPANY MUST DEMONSTRATE ITS ABILITY TO
     MANAGE SUCH RISKS IN ACCORDANCE WITH UNIVERSITY, CITY, COUNTY, STATE, AND
     FEDERAL REGULATIONS. IF APPLICABLE, HOW DOES THE TENANT PLAN TO REMOVE
     HAZARDOUS MATERIALS FOLLOWING ITS DEPARTURE FROM THE INCUBATOR? ARE THERE
     ANY RISKS TO SUNY AT BINGHAMTON, AND IF SO, WHAT IS THE MAGNITUDE AND HOW
     WILL THEY BE MANAGED?

     The Business Plan is attached. No hazardous materials will be generated.

11.  DESCRIBE THE POTENTIAL CONTRIBUTION OF THE COMPANY TO THE ECONOMIC
     DEVELOPMENT OF NEW YORK STATE.

     The growing need for preservation solutions of this type (see Business
     Plan) suggests that BioLife Technologies will expand to 15 or more
     employees in 5 years.
<PAGE>   12
12.  DEMONSTRATE THE CAPACITY OF MEETING USER FEE OBLIGATIONS AND/OR THE
     WILLINGNESS TO GRANT ROYALTIES OR OTHER FORMS OF COMPENSATION IN EXCHANGE
     FOR USE OF FACILITIES AND UNIVERSITY SERVICES.

     User fees obligations will come from (a) private investors and (b) NIH SBIR
     grants. BioLife Technologies will not grant royalties to the University.
     Such an arrangement would seriously impair BioLife's ability to secure
     outside investor support.

     PLEASE INCLUDE IF APPLICABLE:

     a)   REQUEST FOR SPECIFIC FACILITY RENOVATION WITH JUSTIFICATION.

          None needed.

     b)   REQUEST FOR ASSIGNMENT OF SPECIFIC EQUIPMENT.
          (USE FORM ATTACHED TO INCUBATOR LICENSE.)

          All equipment can be shared with the University. In cases where
          BioLife needs exclusive control over equipment for specific projects
          (NIH, SBIR), appropriate arrangements will be made. Note that all the
          critical equipment listed in this application exists in duplicate or
          triplicate, allowing exclusive use.

NAME AND TITLE OF PRINCIPAL OFFICER:

/s/ JOHN G. BAUST                  3/24/99
-------------------           -----------------
    John G. Baust                   Date
    Professor
<PAGE>   13
                    STATE UNIVERSITY OF NEW YORK AT BINGHAMTON

                         AMENDMENT 1 TO INCUBATOR LICENSE

This Amendment 1 to Incubator License is entered into as of February 23, 2000,
by and between The Research Foundation of State University of New York, a
non-profit, educational corporation organized and existing under the laws of
the State of New York, with its principal business offices located at State
University Plaza, Broadway, Albany, New York 12246 (mailing address: Office of
Research & Sponsored Programs, Binghamton University, P.O. Box 6000, Binghamton,
New York 13902-6000), hereinafter referred to as FOUNDATION, acting on behalf of
State University of New York at Binghamton (hereafter referred to as
BINGHAMTON), and Biolife Technologies, Inc., having its principal place of
business located at 1300 Piccard Drive, Suite L-105, Rockville, Maryland 20850,
(hereinafter called LICENSEE).

LICENSEE and FOUNDATION agree that their Incubator License, effective March 23,
1999, (hereafter LICENSE), is hereby amended as follows to reflect the LICENSE
renewal for an additional 12 month period:

17. The first sentence of this clause is revised as follows:

The term of this LICENSE shall be from March 1, 1999, through February 28,
2001, unless terminated earlier by either party or extended in writing in
accordance with the terms of this LICENSE.

All other terms and conditions of the LICENSE remain the same.

IN WITNESS WHEREOF, LICENSEE and FOUNDATION have caused this Amendment 1 to be
signed in duplicate by their duty authorized representatives.

          BIOLIFE TECHNOLOGIES, INC.

               R.J. REINHART
               ------------------
               Type or Print Name

               PRESIDENT & CEO
               --------------------------
               Title

               /s/ R.J. REINHART    3/1/00
               ---------------------------
               Signature            Date

          THE RESEARCH FOUNDATION OF STATE UNIVERSITY OF NEW YORK

               Stephen A. Gilie
               ----------------
               Type or Print Name

               Associate Vice Provost for Research
               -----------------------------------
               Title

               /s/ STEPHEN A. GILIE  6 March, 2000
               -----------------------------------
                                          Date

<PAGE>   14

                  STATE UNIVERSITY OF NEW YORK AT BINGHAMTON

                       AMENDMENT 2 TO INCUBATOR LICENSE

This Amendment 2 to Incubator License is entered into as of February 7, 2001,
by and between The Research Foundation of State University of New York, a
non-profit, educational corporation organized and existing under the laws of
the State of New York, with its principal business offices located at State
University Plaza, Broadway, Albany, New York 12246 (mailing address: Office of
Research & Sponsored Programs, Binghamton University, P.O. Box 6000,
Binghamton, New York 13902-6000), hereinafter referred to as FOUNDATION, acting
on behalf of State University of New York at Binghamton (hereafter referred to
as BINGHAMTON), and BioLife Solutions, Inc., having its principal place of
business located at Mountain View Office Park, 820 Bear Tavern Road, Suite 106,
Ewing, NJ 08628, (hereinafter called LICENSEE).

LICENSEE and FOUNDATION agree that their Incubator License, effective March 23,
1999, and amended February 23, 2000 (hereafter LICENSE), is hereby amended as
follows to reflect the LICENSE renewal for an additional 12 month period:

17. The first sentence of this clause is revised as follows:

The term of this LICENSE shall be from March 1, 1999, through February 28,
2002, unless terminated earlier by either party or extended in writing in
accordance with the terms of this LICENSE.

All other terms and conditions of the LICENSE remain the same.

IN WITNESS WHEREOF, LICENSEE and FOUNDATION have caused this Amendment 2 to be
signed in duplicate by their duly authorized representatives.

        BIOLIFE SOLUTIONS, INC.

                     JOHN G. BAUST
            -------------------------------------
            Type or Print Name

            SR. VICE PRESIDENT
            -------------------------------------
            Title

            /S/ JOHN G. BAUST             2-26-01
            -------------------------------------
            Signature                     Date

        THE RESEARCH FOUNDATION OF STATE UNIVERSITY OF NEW YORK

            Stephen A. Gilie
            -------------------------------------
            Type or Print Name

            Associate Vice President for Research
            -------------------------------------
            Title

            -------------------------------------
            Signature                    Date

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