Document:

Employment Agreement

 Exhibit 10.1 
  
 EMPLOYMENT AGREEMENT 
  
 This Employment Agreement (the “Agreement”) is made and entered into by and between Invitrogen Corporation (along with its successors and
assigns, the “Company”) and David F. Hoffmeister (“Executive” and, along with the Company, a “Party”), effective as of October 13, 2004. 
  
 1. Duties and Scope of Employment. 
  
 (a) Positions and Duties. Beginning on October 13, 2004 (the “Employment Date”) and during his
subsequent employment hereunder (the “Employment Term”), Executive shall serve as Chief Financial Officer, Sr. Vice President, Finance of the Company; shall have all duties and authorities customarily exercised by an individual
serving as the chief financial officer of an entity of the size and nature of the Company; shall have such additional duties and authorities, consistent with the foregoing, as may from time to time be reasonably assigned to Executive by the CEO
and/or the Board of Directors of the Company (the “Board”) and shall report solely and directly to the CEO. During the Employment Term, Executive’s principal office and principal place of employment shall be at the
Company’s headquarters, except to the extent otherwise agreed upon by the Parties. The Employment Term shall commence on the Employment Date and shall end on the date that Executive’s employment hereunder terminates (the
“Termination Date”). (The Parties acknowledge that the use of the term “Employment Term” does not imply a specified period of time and is not intended to be contrary to the concept of employment “at will”, as
discussed in Section 2, below.) 
  
 (b) Obligations. During
the Employment Term, Executive will devote substantially all of his business efforts and time to the business and affairs of the Company. During the Employment Term, Executive agrees not to (i) serve on the board of any business organization without
the prior approval of the Company, which approval will not be unreasonably withheld, or (ii) engage actively in any activity that would constitute a conflict of interest with Executive’s employment with the Company; provided,
however, that Executive may, without the approval of the Company, (w) serve in any capacity with any civic, educational, charitable or professional organization, (x) engage in charitable activities and community affairs, (y) accept and
fulfill a reasonable number of speaking engagements, and (z) manage his personal investments and affairs, in each case to the extent such activities do not impair, or otherwise conflict with, Executive’s performance of his duties to the
Company. 
  
 2. At-Will Employment. The Parties each
acknowledge that Executive’s employment hereunder is at-will and may be terminated at any time with or without good cause or for any or no cause, at the option of either Party and on written notice to the other Party, and shall terminate
automatically upon Executive’s death, subject in all cases to the terms of this Agreement (including, without limitation, Section 5 below). The Parties understand and agree that neither Executive’s job performance nor promotions,
commendations, bonuses or the like from the Company shall give rise 

 to or in any way serve as the basis for modification, amendment, or extension, by implication or otherwise, of
Executive’s status as an at-will employee of the Company unless the provisions of Section 12 are complied with. However, as described in this Agreement, Executive may be entitled to severance benefits depending upon the circumstances of
Executive’s termination of employment. 
  
 3.
Compensation. 
  
 (a) Base Salary. The Company will
pay Executive, as compensation for Executive’s services during the Employment Term, a base salary at the annualized rate of $425,000 (the “Base Salary”). The Base Salary will be paid through payroll periods that are consistent
with the Company’s normal payroll practices (but no less frequently than monthly) and will be subject to required withholding. The Base Salary will be reviewed at least annually during the Employment Term by the Compensation and Organizational
Development Committee of the Board (together with its successors, the “C&O Committee”) to determine whether an increase in the Base Salary is appropriate. Any such increased Base Salary shall thereafter constitute “Base
Salary” for all purposes of this Agreement. Notwithstanding the foregoing, Executive’s Base Salary may be reduced during the Employment Term to the extent that salary reductions are then applied generally and uniformly to members of senior
management of the Company. 
  
 (b) Incentive Compensation Plan
Bonus. With respect to each fiscal year of the Company that ends during the Employment Term, Executive shall be entitled to receive an annual bonus (an “ICP Bonus”), pursuant to the Company’s Incentive Compensation Plan or
any successor thereto (the “ICP”), to the extent that the applicable performance criteria established pursuant to the ICP are satisfied. Executive’s target ICP Bonus opportunity (“ICP Target”) for each fiscal
year shall be no less than 50% of the Base Salary he earned during such year. Notwithstanding the foregoing, Executive’s ICP Bonus shall be guaranteed to be no less than ICP Target for one year beginning on the Employment Date and shall be paid
automatically for such period, provided that such payments shall be prorated for the remainder of 2004 and for the portion of 2005 prior to the anniversary of the Employment Date. The balance of the 2005 ICP Bonus that is based on the portion of
2005 that follows the anniversary of the Employment Date will only be paid to the Executive if the Company attains its corporate financial targets for the 2005 year and to the extent Executive satisfies his individual targets, in accordance with the
then-existing ICP. If the Company exceeds its corporate financial targets under the ICP in any year, Executive shall be eligible to participate in any payout that exceeds 100% of the ICP Target, subject to any adjustment that may be made based on
individual performance, in accordance with the ICP. Any portion of the ICP Bonus guaranteed or earned for 2004 and 2005 shall be paid in April of 2005 and 2006, respectively, or on such earlier date upon which other senior executives of the Company
are paid their corresponding ICP Bonuses. Executive acknowledges that the ICP Bonus for periods following the first anniversary of the Employment Date is not guaranteed in any respect. Any ICP Bonus earned shall be paid in cash through the
Company’s standard payroll methods, subject to required withholding. Except as referenced above, all other terms and conditions of the then current ICP Plan will apply. 
  

 2 

 (c) Signing Bonus. As soon as practicable following the Employment Date, the Company will pay
Executive a one-time cash signing bonus of $375,000 (the “Signing Bonus”), less required withholding. If, prior to the second anniversary of the Employment Date, Executive’s employment hereunder is terminated in a termination
governed by Section 5(b) below (relating to Cause/voluntary terminations), then Executive shall repay an amount equal to (i) the Net Signing Bonus (as such term is defined below) times (ii) a fraction, the numerator of which equals
twenty-four (24) less the number of full calendar months Executive has been employed hereunder and the denominator of which is twenty-four (24). Such amount shall be due and payable no later than seven (7) days after the Termination Date. For
purposes of this Agreement, the term “Net Signing Bonus” means an amount equal to the Signing Bonus minus the sum of all federal, state and local income and employment taxes paid, or payable, by Executive in connection with the
Signing Bonus, assuming for this purpose that the highest marginal tax rates apply. 
  
 (d) Special Bonuses. The Company shall pay Executive a special cash bonus of $225,000 (the “Special Bonus”), less required withholdings, on or before each of the first three anniversaries of
the Employment Date (i.e., an aggregate of $675,000), but only if Executive is employed hereunder on the date such payment is due or if his employment hereunder has previously been terminated in a termination not governed by Section 5(b)
below (relating to Cause/voluntary terminations). 
  
 (e)
Sign-On MTIP Bonus. The Company shall pay Executive a one-time, medium term incentive bonus (the “Sign-On MTIP Bonus”) in an amount equal to one year’s ICP award at the 100% level (the “MTIP Target”),
less applicable withholdings, provided that the Company achieves its financial targets (revenue growth and ROCE) in 2004, 2005, and 2006, under the Company’s existing medium term incentive plan (the “Current MTIP”) or any
successor thereto. For purposes of this Agreement and all Exhibits to this Agreement, the term “MTIP” standing alone includes any multi-year incentive plan that (i) the Company determines is included in this definition, (ii) is referred to
by the Company as a “medium term incentive plan” or “MTIP,” and (iii) any plan, by whatever name, that is reasonably similar to the Current MTIP in terms of time period and payout. If earned, the Sign-On MTIP Bonus will be paid
in March 2007 in cash and restricted stock or RSUs in accordance with the Current MTIP, but only if Executive is employed by the Company on the date such payment is made or as otherwise provided in Section 5 of this Agreement. 
  
 (f) Sign-On Stock Option. Effective as of the Employment Date,
Executive shall be granted a ten-year stock option under the Company’s 2004 Equity Incentive Plan to purchase 200,000 shares of the Company’s Common Stock at an exercise price equal to the closing price of the Company’s Common Stock
on the Employment Date (the “Sign-On Option”). Assuming continued employment, the Sign-On Option shall vest over a four-year period, vesting 25% on the first anniversary of the Employment Date and vesting an additional 1/16 of the
total Sign-On Option at the end of each three-month anniversary of the Employment Date thereafter until the Sign-On Option is fully vested after four years. The option shall be in the form of an Incentive Stock Option (or “ISO”) and
subject to the terms of an Incentive Stock Option Agreement in the form attached 
  

 3 

 hereto as Exhibit A to the extent allowed by the U.S. Internal Revenue Code and applicable regulations, and
to the extent not qualified as an ISO, shall be in the form of a Nonstatutory Stock Option subject to the terms of a Nonstatutory Stock Option Agreement in the form attached hereto as Exhibit B. 
  
 (g) Sign-On Restricted Stock Units. Effective as of the Employment
Date, Executive shall be granted 50,000 restricted stock units under the Company’s 2004 Equity Incentive Plan (the “Sign-On RSU Award”), pursuant to a Restricted Stock Units Agreement in substantially the form attached hereto
as Exhibit C. Assuming continued employment, such restricted stock units shall vest 100% on the third anniversary of the Employment Date. 
  
 (h) Additional Awards and Amounts. In addition to the amounts and awards described in Sections 3(a) through 3(g), Executive shall be eligible to
receive, in the C&O Committee’s (or the Board’s) discretion, additional grants of stock options and other equity-based awards based on performance and consistent with the Company’s regular compensation practices for other senior
executive officers, taking into account Executive’s position relative to other executives; provided, however, that Executive will not be eligible for the Company’s semi-annual grant of options and/or RSUs to be made in the
fall of 2004. In determining the amount of any such future grants, the C&O Committee (and the Board) will not consider, or otherwise offset in any fashion, the amounts and awards provided under Section 3(c) through 3(g) above, except to the
extent necessary to satisfy their fiduciary duty to the Company. The terms of any such future awards will be similar (other than as to amounts) to the terms of corresponding awards (if any) granted to other senior executive officers generally.

  
 (i) Employee Benefits. During the Employment Term,
Executive shall be entitled to participate in all perquisites, and in all welfare, pension, retirement, income deferral, fringe, and other benefit plans, programs and arrangements, that are then maintained by the Company and that are of general
applicability to other senior executives of the Company (including, without limitation, the Company’s group medical, dental, vision, disability, life insurance, flexible-spending account, 401(k), annual physical, personal financial counseling,
deferred compensation, and supplemental long term disability insurance plans, programs and arrangements), in each case at a level, and on terms and conditions, that are commensurate with Executive’s positions and responsibilities at the
Company. For avoidance of doubt, the Company reserves the right to cancel or change the benefit plans and programs it offers to its employees generally at any time. 
  
 (j) Business Expenses. The Company agrees to reimburse Executive for all expenses reasonably incurred by him in
connection with the performance of his duties hereunder. Executive shall submit vouchers, invoices and such other documentation in accordance with reasonable policies and procedures established by the Company. 
  
 (k) D&O Insurance. During Executive’s employment with the
Company and for at least six (6) years thereafter, a directors’ and officers’ liability insurance policy (or policies) shall be kept in place providing coverage to Executive that is no less favorable to him in any respect (including,
without limitation, with respect to scope, exclusions, amounts and deductibles) than the coverage then being provided to any other present or former officer or director of the Company. 
  

 4 

 4. Relocation Expenses. Executive shall use his best reasonable efforts to relocate his primary
residence to San Diego County, California (or the nearby area) no later than six months after the Employment Date. To facilitate this relocation, Executive shall be entitled to the benefits outlined in the Executive Relocation Program provided to
Executive. 
  
 5. Severance. Upon any termination of his
employment hereunder for any reason, Executive shall receive prompt payment or provision, by wire transfer to the extent reasonably requested, of (i) Base Salary through the Termination Date, (ii) all accrued business and relocation expense
reimbursements, (iii) all compensation previously earned but deferred by Executive (together with any accrued interest thereon) and not yet paid by the Company, (iv) except in the case of a termination governed by Section 5(b), the balance of any
annual, long-term or other incentive award earned, but not yet paid, in respect of any period ending on or before the Termination Date and (v) any other benefits (other than severance benefits, except as provided below) due to Executive in
accordance with any applicable plan, program, agreement, corporate governance document, or other arrangement of the Company or any of its affiliates (collectively, “Company Arrangements”) (the compensation and benefits described in
clauses (i) through (v), collectively, being the “Accrued Obligations”). In addition, the following shall apply: 
  
 (a) Termination with Good Reason, Involuntary Termination other than for Cause. If Executive’s employment hereunder is terminated by the
Company other than (x) for Cause in accordance with Section 5(e) below, (y) for disability in accordance with Section 5(f) below, or (z) due to Executive’s death, or if Executive’s employment hereunder is terminated by Executive with
“Good Reason” (as defined in Section 5(g) below), then, in addition to the Accrued Obligations Executive shall be entitled : 
  
 (i) to prompt payment, by wire transfer to the extent reasonably requested, of a lump-sum cash severance payment equal to 1.5 times the sum of
Executive’s annualized Base Salary, plus his annualized ICP Target, as of the Termination Date, 
  
 (ii) to prompt payment, by wire transfer to the extent reasonably requested, of a lump-sum cash severance payment equal to the Sign-On MTIP Bonus that
Executive would have received had he remained employed hereunder through the 18 month anniversary of the Termination Date, assuming 100% achievement of all financial, performance and other targets; 
  
 (iii) to payment of any Special Bonus that has not yet been paid, with
payment due at the same time such Special Bonus would have been due had Executive remained employed hereunder indefinitely; 
  

 5 

 (iv) to have any portion of the Sign-on Option and the Sign-On RSU Award that would have become vested
had Executive remained employed hereunder through the 18 month anniversary of the Termination Date become immediately and fully vested, non-forfeitable, and exercisable (to the extent not previously exercised) as of the Termination Date, with the
exercisable (and unexercised) portion of the Sign-On Option remaining exercisable through the first anniversary of the Termination Date; and 
  
 (v) to continued payment by the Company of the full cost of all group medical, dental and vision continuation coverage premiums for Executive and
Executive’s eligible dependents for 18 months following the Termination Date under COBRA and the Company’s group health plan as then in effect. 
  
 The amounts payable to the Executive pursuant to this Agreement shall be determined without giving effect to any decrease in compensation or benefits that is in violation
of the terms of this Agreement. 
  
 (b) Termination without
Good Reason, Involuntary Termination for Cause. If Executive terminates his employment hereunder voluntarily, other than for Good Reason in accordance with Section 5(g) or Disability in accordance with Section 5(f), or if Executive’s
employment with the Company is terminated for Cause in accordance with Section 5(e), then Executive will receive the Accrued Obligations, and Executive shall not be entitled to any other compensation or benefits from the Company (including any
severance payment described above in Section 5(a)), except to the extent provided under the applicable Company benefit plans or as may be required by law (for example, under COBRA). 
  
 (c) Death or Disability. If Executive’s employment hereunder is terminated due to disability in accordance with
Section 5(f), or due to his death, then, in addition to the Accrued Obligations, the Executive (or his heirs, estate or legal representatives, as applicable) shall receive: 
  
 (i) payment of any Special Bonus that has not yet been paid, with payment due at the same time such Special Bonus would
have been due had Executive remained employed hereunder indefinitely, 
  
 (ii) prompt payment of a lump-sum cash amount equal to Executive’s annualized ICP Target as of the Termination Date multiplied by a fraction, the numerator of which is the number of days elapsed in the calendar year of termination
through the Termination Date, and the denominator of which is 365; 
  
 (iii) with respect to each MTIP award then outstanding, prompt payment of a lump-sum cash amount equal to the target award (assuming 100% achievement of all financial, performance and other targets) multiplied by a fraction, the numerator
of which is the number of days in the applicable performance period (e.g., three years) elapsed through the Termination Date and the denominator of which is the number of days in such performance period; 
  

 6 

 (iv) to have any portion of the Sign-on Option and the Sign-On RSU Award that would have become vested
had Executive remained employed hereunder through the first anniversary anniversary of the Termination Date become immediately and fully vested, non-forfeitable, and exercisable (to the extent not previously exercised) as of the Termination Date,
with the exercisable (but unexercised) portion of the Sign-On Option remaining exercisable through the first anniversary of the Termination Date; and 
  
 (v) to continued payment by the Company of the full cost of the group medical, dental and vision continuation coverage premiums for Executive and
Executive’s eligible dependents for up to 18 months under COBRA and the Company’s group health plans, as then in effect. 
  
 (d) Conditions to Receiving Lump-Sum Severance. Except for the Accrued Obligations and for benefits under Sections 5(a)(v) and 5(c)(v), any
severance benefits provided pursuant to this Section 5 or Exhibits A, B or C of this Agreement will be provided to Executive only if the following conditions are satisfied: (i) Executive has not committed a willful and material violation of the
surviving provisions of the New Hire Documents (as defined below), which violation has not been cured following a timely written demand for cure from the Company; and (ii) Executive has executed, and has not within seven days thereafter revoked, a
mutual release agreement in substantially the form set forth in Exhibit D, which agreement the Company covenants and agrees to execute and return to Executive within seven days after receiving it from Executive, it being understood
that the terms of Exhibit D may be amended by agreement of the Parties. Any such benefits provided by the terms of this Agreement will be provided to Executive as soon as practicable following the Termination Date. 
  
 (e) Cause. The Company may terminate the Executive’s employment
during the Employment Term for “Cause” only in accordance with the provisions set forth herein. 
  
 (i) For purposes of this Agreement, “Cause” means (A) repeated violations by Executive of Executive’s material responsibilities and
material duties under this Agreement which are demonstrably willful and deliberate on Executive’s part and which are not remedied in a reasonable period of time after receipt of written notice from the Company, (B) commission of a willful and
material act of fraud, embezzlement or theft by Executive in connection with Executive’s duties or in the course of Executive’s employment with the Company or its affiliated companies, (C) willful and material violation of any law,
regulation, or rule applicable to the Company’s business or reputation, including, without limitation securities laws, (D) willful misconduct causing intentional wrongful damage to property of the Company or its affiliated companies, (E)
willfully and wrongfully disclosing secret processes or confidential information of the Company or its affiliated companies, (F) willfully participating, without the Company’s express written consent, in the management of any business
enterprise which engages in substantial and direct competition with the Company or its affiliated 
  

 7 

 companies, or (G) conviction of, or plea of nolo contendere to, a felony, which conviction or plea materially
harms the business or reputation of the Company, provided that in the case of clauses (A) through (F), any such act or omission constituted willful gross misconduct and shall have been materially harmful to the Company or its affiliates. For
purposes of this definition, no act or failure to act shall be deemed “willful” unless effected by Executive not in good faith and without a reasonable belief that such action or failure to act was in or not opposed to the Company’s
best interests. 
  
 (ii) The Company may not terminate the
Executive’s employment for Cause under clause (A) through (F) of the definition set forth above unless (a) the Company provides Executive with written notice of its intent to consider termination of Executive’s employment for Cause,
including a detailed description of the specific reasons which form the basis for such consideration; (b) within thirty (30) days after the date such notice is provided, Executive shall have a reasonable opportunity to appear before the Board, with
or without legal representation, at Executive’s election, to present arguments and evidence on his own behalf to defend such act or acts, or failure to act, and, if such act or failure to act is correctable, Executive shall be given thirty (30)
days after such meeting to correct such act or failure to act; and (c) following presentation to the Board as provided in clause (b) above or Executive’s failure to appear before the Board at a date and time specified in the notice and,
following expiration of the thirty (30) day period in which to correct such acts or failures to act that are correctable, Executive’s employment may be terminated for Cause only if (1) the Board, by an affirmative vote of a majority of its
members (excluding Executive and any other member of the Board reasonably believed by the Board to be involved in the events leading the Board to terminate Executive’s employment hereunder for Cause), determines that the acts or failures to act
of Executive specified in the notice occurred and remained uncorrected, and Executive’s employment should accordingly be terminated for Cause; and (2) the Board provides Executive with a written determination setting forth in specific detail
the basis of such termination of employment, which basis must be consistent with the reasons set forth in the notice. Any determination that Cause existed shall, for avoidance of doubt, be subject to de novo review in arbitration under
Section 11 below. 
  
 (f) Disabled. For purposes of this
Agreement, “Disabled” means Executive being unable to perform the principal functions of his duties hereunder due to physical or mental impairment, but only if such inability has lasted, or should reasonably be expected to last, for
at least six (6) months. Whether Executive is Disabled will be determined by the Board in good faith, based on evidence provided by one or more physicians selected by the Board. In the event that Executive becomes Disabled, either Party may
terminate his employment hereunder on no less than twenty (20) days’ notice to the other Party. 
  
 (g) Good Reason. Executive’s employment hereunder may be terminated by Executive, on no less than twenty (20) days’ prior notice to the
Company, following the occurrence of “Good Reason.” For purposes of this Agreement, “Good Reason” means the occurrence, without Executive’s prior express written consent (except in consequence of a prior termination
of Executive’s employment), of any of the following circumstances during the Employment Term: 
  
 (i) a substantial diminution in Executive’s position, authority, duties, or responsibilities, excluding non-substantial changes in title or office,
and excluding any isolated, insubstantial and inadvertent action not taken in bad faith and which is remedied by the Company promptly after written notice thereof is given to the Company by Executive; 
  

 8 

 (ii) any failure by the Company to comply with any provision of Section 3 or 4 of this Agreement (or,
for avoidance of doubt, with the terms of any award granted pursuant to such Sections), other than an isolated, insubstantial and inadvertent failure not occurring in bad faith and which is remedied by the Company promptly after written notice
thereof is given to the Company by Executive; 
  
 (iii) any
purported termination of Executive’s employment hereunder for Cause which is not effected in accordance with the provisions of Section 5(e) above; or 
  
 (iv) any failure of the Company to obtain, prior to the closing of any transaction that results in a Change in Control of the Company (as defined in the
Change-In-Control Agreement), an agreement from any successor, satisfactory to Executive in his sole discretion, to assume and agree to perform this Agreement. 
  

(h) Exclusive Severance Benefits; Offset for Change-in-Control Benefits. Upon termination of his employment hereunder, Executive will not be
entitled to any severance benefits under any Company severance plan, policy, or practice, except to the extent provided in this Agreement or in the Change-in-Control Agreement described in Section 6(a) below. Any benefits to which Executive is
entitled under this Agreement shall be offset against benefits to which Executive is, or becomes, entitled under the Change-in-Control Agreement. 
  
 6. Additional Documentation. 
  
 (a) Executive Documents. The Parties agree to execute, on or before the Employment Date and effective as of the Employment Date, a
Change-in-Control Agreement and an Indemnification Agreement, in substantially the forms attached hereto as Exhibits E and F respectively (together, the “Executive Documents”). 
  
 (b) Standard New Hire Documents. Executive agrees to execute, on or
before the Employment Date and effective as of the Employment Date, the following standard documentation required from all new employees: the Company’s Protocol Certification, Information and Technology Agreement, Trade Secrets Policy, Insider
Trading Policy, and Electronic Communications Policy (together, the “New Hire Documents”), copies of which have been provided to Executive. 
  
 7. Assignment. 
  
 (a) This Agreement will be binding upon and inure to the benefit of the Parties and their respective legal representatives and assigns, and (in the case
of Executive) his heirs, beneficiaries and executors. 
  

 9 

 (b) No rights or obligations of the Company under this Agreement may be assigned or transferred by it
except that such rights and obligations may be assigned or transferred pursuant to a merger, consolidation or other combination in which the Company is not the continuing entity, or a sale or liquidation of all or substantially all of the business
and assets of the Company, provided that the assignee or transferee is the successor to all or substantially all of the business and assets of the Company and such assignee or transferee expressly assumes the liabilities, obligations and duties of
the Company as set forth in this Agreement. In the event of any merger, consolidation, other combination, sale of business and assets, or liquidation as described in the preceding sentence, the Company shall use its best reasonable efforts to cause
such assignee or transferee to promptly and expressly assume the liabilities, obligations and duties of the Company hereunder. 
  
 (c) None of the rights or obligations of Executive under this Agreement may be assigned or transferred by Executive. Notwithstanding the foregoing,
Executive shall be entitled, to the extent permitted under applicable law and applicable Company Arrangements and by giving notice thereof to the Company, to select and change a beneficiary or beneficiaries to receive any compensation or benefit
hereunder following Executive’s death. In the event of Executive’s death or a judicial determination of his incompetence, references in this Agreement to Executive shall be deemed, where appropriate, to refer to his beneficiary, estate or
other legal representative. 
  
 8. Notices. Any notice,
consent, demand, request, or other communication given to any person or entity in connection with this Agreement shall be in writing and shall be deemed to have been given to such person or entity (x) when delivered personally to such person or
entity or (y), provided that a written acknowledgment of receipt is obtained, four days after being sent by prepaid certified or registered mail, or (z) one day after being sent by a nationally recognized overnight courier, to the address (if any)
specified below for such person or entity (or to such other address as such person or entity shall have specified by ten days’ advance notice given in accordance with this Section 8): 
  

			
	If to the Company:
		
	 	  	 Invitrogen Corporation
 1600 Faraday Avenue

Carlsbad, CA 92008

	 	  	 Attn: Sr. Vice President, Human Resources
           General Counsel

  

			
	 If to Executive:

		
	 	  	To him at his principal residence as it then appears in the Company’s records, with a copy (during the Employment Term) to him at his principal office at the Company.

  

 10 

			
	With a copy to:
		
	 	  	Morrison Cohen Singer & Weinstein, LLP
	 	  	750 Lexington Avenue
	 	  	New York, New York 10022
	 	  	Attn: Robert M. Sedgwick, Esq.
	 	  	Facsimile: (212) 735-8708

  

			
	 If to a beneficiary of Executive:

		
	 	  	To the address most recently specified by Executive or his beneficiary.

  
 9.
Severability. In the event that any provision hereof becomes or is declared by any arbitrator(s), or court, of competent jurisdiction to be illegal, unenforceable or void, this Agreement will continue in full force and effect without said
provision. 
  
 10. Entire Agreement. This Agreement, and
the documents and agreements expressly referred to in this Agreement represent the entire agreement and understanding between the Parties concerning the subject matter hereof and Executive’s employment relationship with the Company, and
supersede and replace any and all prior or contemporaneous agreements and understandings, whether written or oral, between the Parties. 
  
 11. Arbitration and Equitable Relief. 
  
 (a) Except as provided in Section 11(d) below, the Parties agree that to the extent permitted by law, any dispute or controversy arising out of, or
relating to, this Agreement, or the documents referred to in it (including, without limitation, the interpretation, validity, construction, performance, or breach thereof), Executive’s employment with the Company, or any termination of such
employment, shall be settled by arbitration to be held at a location within thirty (30) miles of Carlsbad, California, in accordance with the National Rules for the Resolution of Employment Disputes then in effect of the American Arbitration
Association. The award of the arbitrator(s) shall be in writing and shall state the essential findings and conclusions on which the award is based. In addition to monetary relief, the arbitrators may grant injunctions or other equitable relief in
any such dispute or controversy. Any award by the arbitrator(s) shall be final, conclusive and binding on the Parties to the arbitration. Judgment may be entered on any award by the arbitrator(s) in any court having jurisdiction. 
  
 (b) The arbitrator will apply California law to the merits of any dispute or
claim, without reference to rules of conflict of law. Executive hereby expressly consents to the personal jurisdiction of the state and federal courts located in California for any action or proceeding arising from or relating to this Agreement
and/or relating to any arbitration in which the parties are participants. 
  
 (c) The Company shall pay the direct costs and expenses of any arbitration, or court proceeding, under this Section 11. Each Party shall separately pay such Party’s own counsel fees and expenses; provided,
however, that the Company shall promptly reimburse Executive (or his beneficiaries) for all expenses (including, without limitation, attorneys’ fees) he (or his beneficiaries) reasonably incurs to the extent that Executive (or his
beneficiaries) substantially prevails in the proceeding in question. 
  

 11 

 (d) Either Party may apply to any court of competent jurisdiction for a temporary restraining order,
preliminary injunction, or other interim or conservatory relief, as necessary to enforce the provisions of the New Hire Documents or this Section 11, without breach of this Section 11 and without abridgement of the powers of the arbitrator(s).

  
 (e) EACH PARTY HAS READ AND UNDERSTANDS SECTION 11, WHICH
DISCUSSES ARBITRATION. EACH PARTY UNDERSTANDS THAT BY SIGNING THIS AGREEMENT, SUCH PARTY AGREES, TO THE EXTENT PERMITTED BY LAW, TO SUBMIT ANY FUTURE CLAIMS ARISING OUT OF, RELATING TO, OR IN CONNECTION WITH THIS AGREEMENT, OR THE INTERPRETATION,
VALIDITY, CONSTRUCTION, PERFORMANCE, BREACH, OR TERMINATION THEREOF, TO BINDING ARBITRATION, AND THAT THIS ARBITRATION CLAUSE CONSTITUTES A WAIVER OF EACH PARTY’S RIGHT TO A JURY TRIAL AND RELATES TO THE RESOLUTION OF ALL DISPUTES RELATING TO
ALL ASPECTS OF THE EMPLOYER/EMPLOYEE RELATIONSHIP, INCLUDING BUT NOT LIMITED TO, THE FOLLOWING CLAIMS: 
  
 (i) ANY AND ALL CLAIMS FOR WRONGFUL DISCHARGE OF EMPLOYMENT; BREACH OF CONTRACT, BOTH EXPRESS AND IMPLIED; BREACH OF THE COVENANT OF GOOD FAITH AND FAIR
DEALING, BOTH EXPRESS AND IMPLIED; NEGLIGENT OR INTENTIONAL INFLICTION OF EMOTIONAL DISTRESS; NEGLIGENT OR INTENTIONAL MISREPRESENTATION; NEGLIGENT OR INTENTIONAL INTERFERENCE WITH CONTRACT OR PROSPECTIVE ECONOMIC ADVANTAGE; AND DEFAMATION;

  
 (ii) ANY AND ALL CLAIMS FOR VIOLATION OF ANY FEDERAL STATE OR
MUNICIPAL STATUTE, INCLUDING, BUT NOT LIMITED TO, THE AMERICANS WITH DISABILITIES ACT OF 1990, THE FAIR LABOR STANDARDS ACT, AND ANY LAW OF THE STATE OF CALIFORNIA; AND 
  
 (iii) ANY AND ALL CLAIMS ARISING OUT OF ANY OTHER LAWS AND REGULATIONS RELATING TO EMPLOYMENT OR EMPLOYMENT DISCRIMINATION.

  
 12. Amendments and Waivers. No provision in this
Agreement may be changed unless such change is set forth in a writing that expressly refers to the provision(s) of this Agreement that are being changed and that is signed by Executive and by the Chief Executive Officer, Sr. Vice President of Human
Resources, or General Counsel of the Company. No waiver by any person or entity of any breach of any condition or provision contained in this Agreement shall be effective unless such person or entity sets forth such waiver in a signed writing that
expressly refers to the provision(s) of this Agreement whose control such person or entity is waiving. 
  

 12 

 13. Withholding. Notwithstanding anything elsewhere to the contrary, the Company is authorized to
withhold, or cause to be withheld, from any payment or benefit under this Agreement the full amount of any required withholding taxes. 
  
 14. No Mitigation. The amounts payable, and benefits provided, to Executive pursuant to this Agreement (including, without limitation, pursuant to
Section 5) will not be subject to any requirement of mitigation, nor, except as specifically set forth herein, will they be offset, or otherwise reduced, because Executive (or his beneficiaries) receive compensation or benefits from any source other
than the Company. 
  
 15. Governing Law. This Agreement
will be governed by the law of the State of California, without regard to its conflicts of laws principles). 
  
 16. Confidentiality. Each Party agrees to use such Party’s best reasonable efforts to keep this Agreement confidential (other than with
respect to professional advisors, immediate family members, and the like) until the Employment Date. The Parties acknowledge and agree that Invitrogen shall be free to make any governmental filings, including SEC filings that include copies of this
and related agreements, as required by law. 
  
 17. Legal
Fees. The Company agrees to reimburse Executive, on an after-tax basis, for all legal and professional fees and costs incurred by Executive in connection with the discussion, negotiation and documentation of this employment arrangement and of
certain alternative employment arrangements with another company. 
  
 18. Acknowledgment. Each Party acknowledges that such Party has discussed this Agreement with and, obtained advice from an attorney; has carefully read and fully understands all the provisions of this Agreement; and is knowingly and
voluntarily entering into this Agreement. 
  
 19.
Conflicts. In the event of any conflict between any provision of this Agreement and any provision of any other Company Arrangement, the provision(s) of this Agreement shall control unless Executive otherwise agrees in a writing that expressly
refers to the provisions of this Agreement whose control he is waiving. There shall be no contractual or similar restrictions on Executive’s right to terminate his employment with the Company, or on his post-employment activities, other than
restrictions expressly set forth in this Agreement, the New Hire Documents, or the Executive Documents and restrictions, consistent with this Agreement, enforceable solely through loss of benefits to which he might otherwise be entitled. 

 
 20. Representations. 
  
 (a) The Company represents and warrants that (i) it is fully authorized by
action of the C&O Committee (and of any other person or body whose action is required) to enter into this Agreement and to perform its obligations under it, (ii) to the best of its knowledge and belief, the execution, delivery and performance of
this Agreement by it does not violate any applicable law, regulation, order, judgment or decree or any Company Arrangement and (iii) upon the execution and 
  

 13 

 delivery of this Agreement by the Parties, this Agreement shall be its valid and binding obligation, enforceable against
it in accordance with its terms, except to the extent that enforceability may be limited by applicable bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally. 
  
 (b) Executive represents and warrants that (i) to the best of his knowledge
and belief, delivery and performance of this Agreement by him does not violate any law, regulation, order, judgment or decree applicable to him or any agreement by which he is bound and (ii) upon the execution and delivery of this Agreement by the
Parties, this Agreement shall be a valid and binding obligation of Executive, enforceable against him in accordance with its terms, except to the extent that enforceability may be limited by applicable bankruptcy, insolvency or similar laws
affecting the enforcement of creditors’ rights generally. 
  
 21. Headings. The headings of the Sections and sub-sections contained in this Agreement are for convenience only and shall not be deemed to control or affect the meaning or construction of any provision of this Agreement. 

 
 22. Survivorship. Except as otherwise set forth in this Agreement,
the respective rights and obligations of the Parties hereunder shall survive any termination of Executive’s employment hereunder. 
  
 23. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original and all of which together
shall be deemed to be one and the same instrument. Signatures delivered by facsimile shall be effective for all purposes. 
  
 IN WITNESS WHEREOF, the undersigned have executed this Agreement as set forth below: 
  
 EXECUTIVE 

	
	
	 /s/ David F. Hoffmeister

	 David F. Hoffmeister

	
	 COMPANY

	
	 /s/ Joseph L. Rodriguez

	 Joseph L. Rodriguez

	 Sr. Vice President, Human Resources

	 Invitrogen Corporation

  

 14Notice of Grant and Incentive Stock Option Agreement

 Exhibit 10.2 
  

							
	 Notice of Grant of Stock Options
	 	Invitrogen Corporation
	 	 	ID: 33-0373077
	 	 	1600 Faraday Avenue
	 	 	Carlsbad, CA 92008

  

					
	 Name:
	 	David F. Hoffmeister	 	Option Number: 009367
	 Address:
	 	[As specified in Employment Agreement]	 	Plan: 2004
	 	 	 	 	 ID: ###-##-####

  
 Effective October 13, 2004, you have
been granted an Incentive Stock Option to buy approximately 7272 shares of Invitrogen Corporation common stock at $55.00 per share. 
  
 Shares will become fully vested in the amounts and on the dates shown below. 
  

					
	 Shares

	  	 Full Vest

	  	 Expiration

	 1818
	  	10/13/2005	  	10/13/2014
	 455
	  	1/13/2006	  	10/13/2014
	 454
	  	4/13/2006	  	10/13/2014
	 455
	  	7/13/2006	  	10/13/2014
	 454
	  	10/13/2006	  	10/13/2014
	 455
	  	1/13/2007	  	10/13/2014
	 454
	  	4/13/2007	  	10/13/2014
	 455
	  	7/13/2007	  	10/13/2014
	 454
	  	10/13/2007	  	10/13/2014
	 455
	  	1/13/2008	  	10/13/2014
	 454
	  	4/13/2008	  	10/13/2014
	 455
	  	7/13/2008	  	10/13/2014
	 454
	  	10/13/2008	  	10/13/2014

  

 INVITROGEN CORPORATION 
  
 INCENTIVE STOCK OPTION AGREEMENT 
 (U.S.) 
  
 THIS INCENTIVE
STOCK OPTION AGREEMENT (the “Option Agreement”) is made and entered into as of Date of Option Grant, by and between Invitrogen Corporation (together with its successors and assigns, the “Company”) and the individual (the
“Optionee”) named in the attached Notice of Grant of Stock Options (the “Notice of Grant”). 
  
 Pursuant to the Invitrogen Corporation 2004 Equity Incentive Plan (the “Plan”) and the Employment Agreement (as defined below) the
Company has granted to the Optionee an option to purchase certain shares of Stock, upon the terms and conditions set forth in the Employment Agreement and this Option Agreement, including the Notice of Grant (the “Option”). The
Option shall in all respects be subject to the terms and conditions of the Plan, the provisions of which are incorporated herein by reference. 
  
 1. Definitions and Construction. 
  

1.1 Definitions. Unless otherwise defined herein, capitalized terms shall have the meanings assigned to such terms in the Plan. Whenever
used herein, the following terms shall have their respective meanings set forth below: 
  
 (a) “Board” means the Board of Directors of the Company. If one or more Committees have been appointed by the Board to administer stock options granted by the Company, “Board” shall also
mean such Committee(s). 
  
 (b) “Cause” shall
mean “Cause” as defined in, and determined under, the Employment Agreement. 
  
 (c) “Change-in-Control Agreement” means the Change-in-Control Agreement entered into between the Company and the Optionee dated as of October 13, 2004, as it may be amended from time to time in
accordance with its terms, and “Change in Control” means “Change in Control” as defined in the Change-in-Control Agreement. 
  
 (d) “Date of Option Grant” means the effective date shown in the Notice of Grant. 
  
 (e) “Disability” shall mean the Optionee is
“Disabled” as such term is defined in, and determined under, the Employment Agreement. 
  
 (f) “Employment Agreement” means that certain employment agreement entered into by and between the Company and the Optionee effective as
of October 13, 2004, as amended from time to time in accordance with its terms. 

 (g) “Exercise Price” means the purchase price per share of Stock shown in the Notice of
Grant, as adjusted from time to time pursuant to Section 9. 
  
 (h) “Good Reason” shall mean “Good Reason” as defined in, and determined under, the Employment Agreement. 
  
 (i) “Number of Option Shares” means the number of shares of Stock shown in the Notice of Grant, as adjusted from time to time pursuant to
Section 9. 
  
 (j) “Vested Shares” means, on any
relevant date, the Number of Option Shares which are vested and unexpired as determined by applying the vesting schedule shown in the Notice of Grant to the period of Optionee’s continuous Service and giving effect to the provisions of Section
7.1. 
  
 (k) “Option Expiration Date” means the
relevant Expiration date shown in the Notice of Grant. 
  
 1.2
Construction. Captions and titles contained herein are for convenience only and shall not affect the meaning or interpretation of any provision of this Option Agreement. Except when otherwise indicated by the context, the singular
shall include the plural and the plural shall include the singular. Use of the term “or” is not intended to be exclusive, unless the context clearly requires otherwise. 
  
 2. Tax Consequences. 
  
 2.1 Incentive Stock Option. This Option is intended to be an Incentive Stock Option within the meaning of Section 422(b) of the Code, but the Company does
not represent or warrant that this Option qualifies as such. The Optionee should consult with the Optionee’s own tax advisor regarding the tax effects of this Option and the requirements necessary to obtain favorable income tax treatment under
Section 422 of the Code, including, but not limited to, holding period requirements (NOTE: If the Option is exercised more than three (3) months after the date on which you cease to be an Employee (other than by reason of your death or Disability),
the Option will be treated as a Nonstatutory Stock Option and not as an Incentive Stock Option to the extent required by Section 422 of the Code). 
  
 2.2 Incentive Stock Option Fair Market Value Limitation. To the extent that the Option (together with all Incentive Stock Options granted to the Optionee
under all stock option plans of the Participating Company Group, including the Plan) becomes exercisable for the first time during any calendar year for shares having a Fair Market Value greater than One Hundred Thousand Dollars ($100,000), the
portion of such options which exceeds such amount will be treated as Nonstatutory Stock Options. For purposes of this Section 2.2, options designated as Incentive Stock Options are taken into account in the order in which they were granted, and the
Fair Market Value of Stock is determined as of the time the option with respect to such Stock is granted. If the Code is amended to provide for a different limitation from that set forth in this Section 2.2, such different limitation shall be deemed
incorporated herein effective as of the date 
  

 2 

 required or permitted by such amendment to the Code. If the Option is treated as an Incentive Stock Option in part and as
a Nonstatutory Stock Option in part by reason of the limitation set forth in this Section 2.2, the Optionee may designate which portion of such Option the Optionee is exercising. In the absence of such designation, the Optionee shall be deemed to
have exercised the Incentive Stock Option portion of the Option first. Separate certificates representing each such portion shall be issued upon the exercise of the Option. (NOTE: If the aggregate Exercise Price of the Option (that is, the Exercise
Price multiplied by the Number of Option Shares) plus the aggregate exercise price of any other Incentive Stock Options you hold (whether granted pursuant to the Plan or any other stock option plan of the Participating Company Group) is greater than
$100,000, you should contact the Chief Financial Officer of the Company to ascertain whether the entire Option qualifies as an Incentive Stock Option.) 
  
 3. Administration. All questions of interpretation concerning this Option Agreement shall be determined by the Board. All good faith determinations by the
Board that are consistent with this Agreement, the Employment Agreement, and the Change-in-Control Agreement shall be final and binding upon all persons having an interest in the Option. Any officer of the Company shall have the authority to act on
behalf of the Company with respect to any matter, right, obligation, or election which is the responsibility of or which is allocated to the Company herein, provided the officer has apparent authority with respect to such matter, right, obligation,
or election. 
  
 4. Exercise of the Option. 
  
 4.1 Right to Exercise. Except as otherwise provided herein,
the Option shall be exercisable prior to the termination of the Option (as provided in Section 6) in an amount not to exceed the number of Vested Shares less the number of shares previously acquired upon exercise of the Option. In no event shall the
Option be exercisable for more shares than the Number of Option Shares. 
  
 4.2 Method of Exercise. Exercise of the Option shall be by written notice to the Company which must state the election to exercise the Option, the number of whole shares of Stock for which the Option is being exercised and
such other representations and agreements as to the Optionee’s investment intent with respect to such shares as may be required pursuant to the provisions of this Option Agreement. The written notice must be signed by the Optionee and must be
delivered in person, by certified or registered mail, return receipt requested, by confirmed facsimile transmission, or by such other means as the Company may permit, to the Chief Financial Officer of the Company, or other authorized representative
of the Participating Company Group, prior to the termination of the Option as set forth in Section 6, accompanied by an arrangement for full payment of the aggregate Exercise Price for the number of shares of Stock being purchased and of any amounts
due under Section 4.4 with respect to taxes; provided, however, that no such arrangement shall include a loan by the Company to Optionee. The Option shall be deemed to be exercised upon receipt by the Company of such written notice and the aggregate
Exercise Price. 
  

 3 

 4.3 Payment of Exercise Price. 
  
 (a) Forms of Consideration Authorized. Except as otherwise provided
below, payment of the aggregate Exercise Price for the number of shares of Stock for which the Option is being exercised shall be made (i) in cash, by check, or cash equivalent, (ii) by tender to the Company of whole shares of Stock owned by the
Optionee having a Fair Market Value (as determined by the Company without regard to any restrictions on transferability applicable to such stock by reason of federal or state securities laws or agreements with an underwriter for the Company) not
less than the aggregate Exercise Price, (iii) by means of a Cashless Exercise, as defined in Section 4.3(c), or (iv) by any combination of the foregoing. 
  
 (b) Tender of Stock. Notwithstanding the foregoing, the Option may not be exercised by tender to the Company of shares of Stock to the extent such
tender of Stock would constitute a violation of the provisions of any law, regulation or agreement restricting the redemption of the Company’s stock. The Option may not be exercised by tender to the Company of shares of Stock unless such shares
either have been owned by the Optionee for more than six (6) months or were not acquired, directly or indirectly, from the Company. 
  
 (c) Cashless Exercise. A “Cashless Exercise” means the assignment in a form acceptable to the Company of the proceeds of a sale
with respect to some or all of the shares of Stock acquired upon the exercise of the Option pursuant to a program, procedure or individual transaction approved by the Company (including, without limitation, through an exercise complying with the
provisions of Regulation T as promulgated from time to time by the Board of Governors of the Federal Reserve System). The Company reserves, at any and all times, the right, in the Company’s sole and absolute discretion, to decline to approve or
terminate any such program, procedure or individual transaction. 
  
 4.4 Tax Withholding. At the time the Option is exercised, in whole or in part, or at any time thereafter as requested by the Company, the Optionee hereby authorizes withholding by the Company or any agent of the Company (i.e.,
bank, broker) from payroll and any other amounts payable to the Optionee, and otherwise agrees to make adequate provision for (including by means of a Cashless Exercise to the extent permitted by the Company), any sums required to satisfy the
employee portion of any federal, state, local and foreign tax withholding obligations of the Participating Company Group, if any, which arise in connection with any exercise of the Option, including, without limitation, obligations arising upon (i)
the exercise, in whole or in part, of the Option, (ii) the transfer, in whole or in part, of any shares acquired upon exercise of the Option, (iii) the operation of any law or regulation providing for the imputation of interest, or (iv) the lapsing
of any restriction with respect to any shares acquired upon exercise of the Option. Without limiting the foregoing, the Optionee shall have the right to satisfy, in whole or in part, the employee portion of any withholding tax obligation that may
arise in connection with any exercise of the Option either by electing to have the Company withhold from the shares of Stock to be delivered upon exercise that number of shares, or by electing to deliver to the Company already-owned shares, in
either case having a Fair Market Value on the date of exercise equal to the amount necessary to satisfy the statutory minimum withholding amount due. The Optionee is cautioned that the Option is not exercisable unless the tax withholding obligations
of the 
  

 4 

 Participating Company Group are satisfied. Accordingly, the Optionee may not be able to exercise the Option when desired
even though the Option is vested, and the Company shall have no obligation to issue a certificate for such shares or release such shares from any escrow provided for herein. 
  
 4.5 Certificate Registration. Except in the event the Exercise Price is paid by means of a Cashless Exercise,
the certificate for the shares as to which the Option is exercised shall be registered in the name of the Optionee or, if applicable, in the names of the Optionee and his/her spouse, or in the names of the heirs of the Optionee. 
  
 4.6 Restrictions on Grant of the Option and Issuance of Shares.
The grant of the Option and the issuance of shares of Stock upon exercise of the Option shall be subject to compliance with all applicable requirements of federal, state or foreign law with respect to such securities. The Option may not be exercised
if the issuance of shares of Stock upon exercise would constitute a violation of any applicable federal, state or foreign securities laws or other law or regulations or the requirements of any stock exchange or market system upon which the Stock may
then be listed. In addition, the Option may not be exercised unless (i) a registration statement under the Securities Act shall at the time of exercise of the Option be in effect with respect to the shares issuable upon exercise of the Option or
(ii) in the opinion of legal counsel to the Company, the shares issuable upon exercise of the Option may be issued in accordance with the terms of an applicable exemption from the registration requirements of the Securities Act. THE OPTIONEE IS
CAUTIONED THAT THE OPTION MAY NOT BE EXERCISED UNLESS THE FOREGOING CONDITIONS ARE SATISFIED. ACCORDINGLY, THE OPTIONEE MAY NOT BE ABLE TO EXERCISE THE OPTION WHEN DESIRED EVEN THOUGH THE OPTION IS VESTED. Questions concerning this restriction
should be directed to the Chief Financial Officer of the Company. The inability of the Company to obtain from any regulatory body having jurisdiction the authority, if any, deemed by the Company’s legal counsel to be necessary to the lawful
issuance and sale of any shares subject to the Option shall relieve the Company of any liability in respect of the failure to issue or sell such shares as to which such requisite authority shall not have been obtained. As a condition to the exercise
of the Option, the Company may require the Optionee to satisfy any qualifications that may be necessary or appropriate, to evidence compliance with any applicable law or regulation and to make any representation or warranty with respect thereto as
may be requested by the Company. 
  
 4.7 Fractional
Shares. The Company shall not be required to issue fractional shares upon the exercise of the Option. 
  
 5. Nontransferability of the Option. The Option may be exercised during the lifetime of the Optionee only by the Optionee or the Optionee’s guardian or legal representative and may not be assigned
or transferred in any manner except by will or by the laws of descent and distribution. Following the death of the Optionee, the Option, to the extent provided in Section 7, may be exercised by the Optionee’s legal representative or by any
person empowered to do so under the deceased Optionee’s will or under the then applicable laws of descent and distribution. 
  

 5 

 6. Termination of the Option. The Option shall terminate and may no longer be exercised on the first to
occur of (a) the Option Expiration Date, (b) the last date for exercising the Option following termination of the Optionee’s Service as described in Section 7, or (c) a Change in Control to the extent provided in the Change-in-Control
Agreement. 
  
 7. Effect of Termination of Service.

  
 7.1 Vesting Upon Termination of Service Under
Certain Circumstances 
  
 (a) Death or
Disability. If the Optionee’s Service with the Participating Company Group is terminated because of the Disability or death of the Optionee, the Option shall become, upon such termination of Service, vested and exercisable with respect
to the number of Option Shares for which the Option would have been vested and exercisable had the Optionee’s Service continued for an additional twelve (12) months. For purposes of this Section 7.1(a), the Optionee’s Service shall be
deemed to have terminated on account of death if the Optionee dies within three (3) months after the Optionee’s termination of Service other than upon a termination for “Cause” and if the result is more favorable to the Optionee, with
respect to vesting, than it would otherwise be. 
  
 (b)
Termination Without Cause or With Good Reason. If the Optionee’s employment under the Employment Agreement is terminated by the Company other than for Cause or Disability, or by the Optionee with Good Reason, the Option
shall become, upon such termination of employment, vested and exercisable with respect to the number of Option Shares for which the Option would have been vested and exercisable had the Optionee’s employment continued for an additional eighteen
(18) months. 
  
 7.2 Option Exercisability

  
 (a) Disability. If the Optionee’s Service with
the Participating Company Group is terminated because of the Disability of the Optionee, the Option, to the extent unexercised and exercisable on the date on which the Optionee’s Service terminated, (after giving effect to the provisions of
Section 7.1) may be exercised by the Optionee (or the Optionee’s guardian or legal representative) at any time prior to the expiration of twelve (12) months after the date on which the Optionee’s Service terminated, but in any event no
later than the Option Expiration Date. 
  
 (b) Death. If
the Optionee’s Service with the Participating Company Group is terminated because of the death of the Optionee, the Option, to the extent unexercised and exercisable on the date on which the Optionee’s Service terminated (after giving
effect to the provisions of Section 7.1), may be exercised by the Optionee’s legal representative or other person who acquired the right to exercise the Option by reason of the Optionee’s death at any time prior to the expiration of twelve
(12) months after the date on which the Optionee’s Service terminated, but in any event no later than the Option Expiration Date. For purposes of this Section 7.2(b), the Optionee’s Service shall be deemed to have terminated on account of
death if the Optionee dies within three (3) months after the Optionee’s termination of Service other than upon a termination for “Cause” and if the result is more favorable to the Optionee, with respect to exercisability, than it
would otherwise be. 
  

 6 

 (c) Other Termination of Service. If the Optionee’s Service with the Participating Company
Group is terminated voluntarily by the Optionee without Good Reason (excluding for this purpose any termination due to Disability or death), the Option, to the extent unexercised and exercisable by the Optionee on the date on which the
Optionee’s Service terminated, may be exercised by the Optionee at any time within three (3) months (or such other longer period of time as determined by the Board, in its sole discretion) after the date on which the Optionee’s Service
terminated, but in any event no later than the Option Expiration Date. If the Optionee’s employment under the Employment Agreement is terminated by the Company other than for Cause or Disability, or by the Optionee with Good Reason, the Option
to the extent unexercised and exercisable by the Optionee on the date on which the Optionee’s employment terminated (after giving effect to the provisions of Section 7.1), may be exercised by the Optionee at any time within twelve (12) months
(or such other longer period of time as determined by the Board, in its sole discretion) after the date on which the Optionee’s employment terminated, but in any event no later than the Option Expiration Date. 
  
 7.3 Extension if Exercise Prevented by Law. Notwithstanding the
foregoing, if the exercise of the Option within the applicable time periods set forth in Section 7.2 is prevented by the provisions of Section 4.6, the Option shall remain exercisable until three (3) months after the date the Optionee is notified by
the Company that the Option is exercisable, but in any event no later than the Option Expiration Date. The Company makes no representation as to the tax consequences of any such delayed exercise. The Optionee should consult with the Optionee’s
own tax advisor as to the tax consequences to the Optionee of any such delayed exercise. 
  
 7.4 Termination for Cause. Notwithstanding any other provision of this Option Agreement, if the Optionee’s Service with the Participating Company Group is terminated for Cause, the Option shall
terminate and cease to be exercisable on the effective date of such termination of Service. 
  
 8. Effect of Change in Control on Options. This Option shall also become vested in the circumstances, and to the extent, provided in the Change-in-Control Agreement. Upon such vesting the Option shall
continue to be subject to all terms and conditions of the Plan. 
  
 9.
Adjustments for Changes in Capital Structure. In the event of any stock dividend, stock split, reverse stock split, recapitalization, combination, reclassification, or similar change in the capital structure of the Company, appropriate
adjustments shall be made in the number, Exercise Price and class of shares of stock subject to the Option. If a majority of the shares which are of the same class as the shares that are subject to the Option are exchanged for, converted into, or
otherwise become (whether or not pursuant to an Ownership Change Event) shares of another corporation (the “New Shares”), the Board may unilaterally amend the Option to provide that the Option is exercisable for New Shares. In the
event of any such amendment, the Number of Option Shares and the Exercise Price shall be adjusted in a fair and equitable manner, as determined by the Board, in its sole discretion. Notwithstanding the foregoing, any 
  

 7 

 fractional share resulting from an adjustment pursuant to this Section 9 shall be rounded up or down to the nearest whole
number, as determined by the Board, and in no event may the Exercise Price be decreased to an amount less than the par value, if any, of the stock subject to the Option. The adjustments determined by the Board pursuant to this Section 9 shall be
final, binding and conclusive. 
  
 10. Rights as a Stockholder, Employee or
Consultant. The Optionee shall have no rights as a stockholder with respect to any shares covered by the Option until the date of the issuance of a certificate for, or other valid delivery of, the shares for which the Option has been
exercised (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company). No adjustment shall be made for dividends, distributions or other rights for which the record date is prior to the
date such certificate is issued, except as provided in Section 9. If the Optionee is an Employee, the Optionee understands and acknowledges that, except as otherwise provided in the Employment Agreement, the Optionee’s employment is “at
will” and is for no specified term. Nothing in this Option Agreement shall confer upon the Optionee, whether an Employee or Consultant, any right to continue in the Service of a Participating Company or interfere in any way with any right of
the Participating Company Group to terminate the Optionee’s Service as an Employee or Consultant, as the case may be, at any time. 
  
 11. Legends. The Company may at any time place legends referencing any applicable federal, state or foreign securities law restrictions on all certificates
representing shares of stock subject to the provisions of this Option Agreement. The Optionee shall, at the request of the Company, promptly present to the Company any and all certificates representing shares acquired pursuant to the Option in the
possession of the Optionee in order to carry out the provisions of this Section. 
  
 12. Notice of Sales Upon Disqualifying Disposition. The Optionee shall dispose of the shares acquired pursuant to the Option only in accordance with the provisions of this Option Agreement. In addition, the Optionee shall
promptly notify the Chief Financial Officer of the Company if the Optionee disposes of any of the shares acquired pursuant to the Option within one (1) year after the date the Optionee exercises all or part of the Option or within two (2) years
after the Date of Option Grant and shall provide the Company with a description of the terms and circumstances of such disposition. Until such time as the Optionee disposes of such shares in a manner consistent with the provisions of this Option
Agreement, unless otherwise expressly authorized by the Company, the Optionee shall hold all shares acquired pursuant to the Option in the Optionee’s name (and not in the name of any nominee) for the one-year period immediately after the
exercise of the Option and the two-year period immediately after Date of Option Grant. At any time during the one-year or two-year periods set forth above, the Company may place a legend on any certificate representing shares acquired pursuant to
the Option requesting the transfer agent for the Company’s stock to notify the Company of any such transfers. The obligation of the Optionee to notify the Company of any such transfer shall continue notwithstanding that a legend has been placed
on the certificate pursuant to the preceding sentence. 
  

 8 

 13. Restrictions on Transfer of Shares. No shares acquired upon exercise of the Option may be sold,
exchanged, transferred (including, without limitation, any transfer to a nominee or agent of the Optionee), assigned, pledged, hypothecated or otherwise disposed of, including by operation of law, in any manner which violates any of the provisions
of Section 12 of this Option Agreement, and any such attempted disposition shall be void. The Company shall not be required (a) to transfer on its books any shares which will have been transferred in violation of any of the provisions set forth in
this Option Agreement or (b) to treat as owner of such shares or to accord the right to vote as such owner or to pay dividends to any transferee to whom such shares will have been so transferred. 
  
 14. Binding Effect. Subject to the restrictions on transfer set forth herein,
this Option Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, executors, administrators, successors and assigns. In the event of the Optionee’s death or a judicial determination of his
incapacity, references to “the Optionee” in this Agreement shall be deemed, as appropriate, to be references to his heirs, estate or other legal representative(s). 
  
 15. Termination or Amendment. The Board may terminate or amend the Plan or the Option at any time; provided, however, that no
such termination or amendment may adversely affect the Option or any unexercised portion hereof without the consent of the Optionee unless such termination or amendment is necessary to comply with any applicable law or government regulation or is
required to enable the Option to qualify as an Incentive Stock Option. No amendment or addition to this Option Agreement shall be effective unless in writing. 
  

16. Notices. Any notice required or permitted hereunder shall be given in the manner set forth in the Employment Agreement. 
  
 17. Integrated Agreement. This Option Agreement, the Notice of Grant, the Plan,
the Employment Agreement, together with its Exhibits and other documents referenced in the Employment Agreement, and the Change-in-Control Agreement constitute the entire understanding and agreement of the Optionee and the Participating Company
Group with respect to the subject matter contained herein or therein, and there are no agreements, understandings, restrictions, representations, or warranties among the Optionee and the Participating Company Group with respect to such subject
matter other than those as set forth or provided for herein or therein. To the extent contemplated herein or therein, the provisions of this Option Agreement shall survive any exercise of the Option and shall remain in full force and effect. In the
event of any conflict between this Option Agreement and the Notice of Grant, this Option Agreement shall control, and in the event of any conflict between the Employment Agreement and this Option Agreement or the Notice of Grant the Employment
Agreement shall control. 
  
 18. Applicable Law. This Option
Agreement shall be governed by the laws of the State of California as such laws are applied to agreements between California residents entered into and to be performed entirely within the State of California. 
  

 9 

 19. Acceptance and Acknowledgement by Optionee. Optionee represents that Optionee is familiar with the
terms and provisions of this Option Agreement, including the Notice of Grant, and hereby accepts the Option subject to all of the terms and provisions thereof. The Optionee hereby agrees to accept as binding, conclusive and final all decisions or
interpretations of the Board upon any questions arising under this Option Agreement. Without limitation of the foregoing, Optionee agrees that by executing the Notice of Grant Optionee acknowledges and agrees that: 
  
 19.1 Prospectus. Optionee has been provided with a copy or
electronic access to a copy of the Prospectus for the Plan; 
  
 19.2 Discretionary Nature of Plan. The Plan is discretionary in nature, and the Company may amend, cancel or terminate the Plan in its sole discretion at any time, subject to the terms of the Plan and any applicable
limitations imposed by law. The grant of stock options under the Plan is a one-time benefit and does not create any contractual or other right to receive a grant of stock options or benefits in lieu of stock options in the future. Future grants, if
any, will be at the sole discretion of the Company, including, but not limited to, the timing of any grant, the number of options, vesting provisions and the exercise price; 
  
 19.3 Voluntary Participation. Participation in the Plan is voluntary. The value of an Option is an
extraordinary item of compensation outside the scope of any employment contract. As such, an Option is not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses,
long-service awards, pension or retirement benefits or similar payments. The future value of the underlying Stock is unknown and cannot be predicted with certainty; and 
  
 19.4 Exclusion of Claims. Optionee acknowledges and agrees that, except as otherwise agreed upon in writing
between Optionee and the Company, Optionee will have no entitlement to compensation or damages in consequence of the termination of Optionee’s employment with the Company or any subsidiary for any reason whatsoever and whether or not in breach
of contract, insofar as such entitlement arises or may arise from ceasing to have rights under or from ceasing to be entitled to exercise stock options (provided that any such cessation is in accordance with the Plan) as a result of such termination
or from the loss or diminution in value of this Option, and, upon the grant of this Option, Optionee shall be deemed irrevocably to have waived any such entitlement. 
  

	
	 OPTIONEE

	
	 /s/ David F. Hoffmeister

	 David F. Hoffmeister

  

 10 

	
	 COMPANY

	
	 /s/ Joseph L. Rodriguez

	 Joseph L. Rodriguez

	 Sr. Vice President, Human Resources Invitrogen Corporation

  

 11

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00072-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00072-of-00352.parquet"}]]