Document:

<PAGE>

                                                                    Exhibit 10.1

                          CHANGE IN CONTROL AGREEMENT
                          ---------------------------

__________________________, _______

__________________________
__________________________
__________________________

Dear ______________:

You are presently the _________________________ of (Jerneen Micro Medical
Technologies, Inc., a Minnesota corporation and an Affiliate of) (Bio-Vascular,
Inc., a Minnesota corporation (the "Company")). The Company considers the
establishment and maintenance of a sound and vital management to be essential to
protecting and enhancing the best interests of the Company and its shareholders.
In this connection, the Company recognizes that, as is the case with many
publicly held corporations, the possibility of a Change in Control may arise and
that such possibility and the uncertainty and questions which it may raise among
management may result in the departure or distraction of management personnel to
the detriment of the Company and its shareholders.

Accordingly, the Board has determined that appropriate steps should be taken to
minimize the risk that Company management will depart prior to a Change in
Control, thereby leaving the Company without adequate management personnel
during such a critical period, and that appropriate steps also be taken to
reinforce and encourage the continued attention and dedication of members of the
Company's management to their assigned duties without distraction in
circumstances arising from the possibility of a Change in Control. In
particular, the Board believes it important, should the Company or its
shareholders receive a proposal for transfer of control, that you be able to
continue your management responsibilities without being influenced by the
uncertainties of your own personal situation.

The Board recognizes that continuance of your position with the Company involves
a substantial commitment to the Company in terms of your personal life and
professional career and the possibility of foregoing present and future career
opportunities, for which the Company receives substantial benefits. Therefore,
to induce you to remain in the employ of the Company, this Agreement, which has
been approved by the Board, sets forth the benefits which the Company agrees
will be provided to you in the event your employment with the Company is
terminated in connection with a Change in Control under the circumstances
described below.

                                       1
<PAGE>

The following terms will have the meaning set forth below unless the context
clearly requires otherwise. Terms defined elsewhere in this Agreement will have
the same meaning throughout this Agreement.

                                   ARTICLE I.
                                   DEFINITIONS
                                   -----------

1.       "Affiliate" means (i) any corporation at least a majority of whose
          ---------
         outstanding securities ordinarily having the right to vote at elections
         of directors is owned directly or indirectly by the Company or (ii) any
         other form of business entity in which the Company, by virtue of a
         direct or indirect ownership interest, has the right to elect a
         majority of the members of such entity's governing body.

2.       "Agreement" means this letter agreement as amended, extended or renewed
          ---------
         from time to time in accordance with its terms.

3.       "Board" means the board of directors of Bio-Vascular, Inc. duly
          -----
         qualified and acting at the time in question. On and after the date of
         a Change in Control, any duty of the Board in connection with this
         Agreement is nondelegable and any attempt by the Board to delegate any
         such duty is ineffective.

4.       "Cause" means:
          -----

         a.    your gross misconduct;

         b.    your willful and continued failure to perform substantially your
               duties with the Company (other than any such failure (1)
               resulting from your Disability or incapacity due to bodily injury
               or physical or mental illness or (2) relating to changes in your
               duties after a Change in Control which constitute Good Reason)
               after a demand for substantial performance is delivered to you by
               the chair of the Board which specifically identifies the manner
               in which you have not substantially performed your duties and
               provides for a reasonable period of time within which you may
               take corrective actions; or

         c.    your conviction (including a plea of nolo contendere) of
               willfully engaging in illegal conduct constituting a felony or
               gross misdemeanor under federal or state law which is materially
               and demonstrably injurious to the Company or which impairs your
               ability to perform substantially your duties for the Company.

         An act or failure to act will be considered "gross" or "willful" for
         this purpose only if done, or omitted to be done, by you in bad faith
         and without reasonable belief that it was in, or not opposed to, the
         best interests of the Company. Any act, or failure to act, based upon
         authority given pursuant to a resolution duly adopted by the Company's
         board of directors (or a committee thereof) or based upon the advice of
         counsel for the Company will be conclusively presumed to be done, or
         omitted to be done, by you in good faith and in the best interests of
         the Company. It is also expressly understood that your attention to
         matters

                                       2
<PAGE>

         not directly related to the business of the Company will not provide a
         basis for termination for Cause so long as the Board did not expressly
         disapprove in writing of your engagement in such activities either
         before or within a reasonable period of time after the Board knew or
         could reasonably have known that you engaged in those activities.
         Notwithstanding the foregoing, you may not be terminated for Cause
         unless and until there has been delivered to you a copy of a resolution
         duly adopted by the affirmative vote of not less than a majority of the
         entire membership of the Board at a meeting of the Board called and
         held for the purpose (after reasonable notice to you and an opportunity
         for you, together with your counsel, to be heard before the Board),
         finding that in the good faith opinion of the Board you were guilty of
         the conduct set forth above in clauses a., b. or c. of this definition
         and specifying the particulars thereof in detail.

5.       "Change in Control" means any of the following:
          -----------------

         a.    the sale, lease, exchange or other transfer, directly or
               indirectly, of all or substantially all of the assets of
               Bio-Vascular, Inc. in one transaction or in a series of related
               transactions, to any Person;

         b.    the approval by the shareholders of Bio-Vascular, Inc. of any
               plan or proposal for the liquidation or dissolution of
               Bio-Vascular, Inc., as the case may be;

         c.    any Person is or becomes the "beneficial owner" (as defined in
               Rule 13d-3 under the Exchange Act), directly or indirectly, of
               (1) 20 percent or more, but not more than 50 percent, of the
               combined voting power of the outstanding securities of
               Bio-Vascular, Inc. ordinarily having the right to vote at
               elections of directors, unless the transaction resulting in such
               ownership has been approved in advance by the "continuity
               directors" or (2) more than 50 percent of the combined voting
               power of the outstanding securities of Bio-Vascular, Inc.
               ordinarily having the right to vote at elections of directors
               (regardless of any approval by the continuity directors);

         d.    a merger or consolidation to which the Company is a party if the
               shareholders of Bio-Vascular, Inc. immediately prior to the
               effective date of such merger or consolidation have, solely on
               account of ownership of securities of Bio-Vascular, Inc. at such
               time, "beneficial ownership" (as defined in Rule 13d-3 under the
               Exchange Act) immediately following the effective date of such
               merger or consolidation of securities of the surviving company
               representing (1) 50 percent or more, but not more than 80
               percent, of the combined voting power of the surviving
               corporation's then outstanding securities ordinarily having the
               right to vote at elections of directors, unless such merger or
               consolidation has been approved in advance by the continuity
               directors, or (2) less than 50 percent of the combined voting
               power of the surviving corporation's then outstanding securities
               ordinarily having the right to vote at elections of directors
               (regardless of any approval by the continuity directors);

         e.    the continuity directors cease for any reason to constitute at
               least a majority the Board; or

                                       3
<PAGE>

         For purposes of this Section 1(e), a "continuity director" means any
         individual who is a member of the Board on ___________________, _____,
         while he or she is a member of the Board, and any individual who
         subsequently becomes a member of the Board whose election or nomination
         for election by Bio-Vascular, Inc.'s shareholders was approved by a
         vote of at least a majority of the directors who are continuity
         directors (either by a specific vote or by approval of the proxy
         statement of Bio-Vascular, Inc. in which such individual is named as a
         nominee for director without objection to such nomination).

         f.    a change in control of a nature that is determined by outside
               legal counsel to Bio-Vascular, Inc., in a written opinion
               specifically referencing this provision of the Agreement, to be
               required to be reported (assuming such event has not been
               "previously reported") pursuant to Section 13 or 15(d) of the
               Exchange Act, whether or not Bio-Vascular, Inc. is then subject
               to such reporting requirement, as of the effective date of such
               change in control.

6.       "Code" means the Internal Revenue Code of 1986, as amended. Any
          ----
         reference to a specific provision of the Code includes a reference to
         such provision as it may be amended from time to time and to any
         successor provision.

7.       "Company" means Bio-Vascular, Inc. and/or any Affiliate.
          -------

8.       "Confidential Information" means information which is proprietary to
          ------------------------
         the Company or proprietary to others and entrusted to the Company,
         whether or not trade secrets. It includes information relating to
         business plans and to business as conducted or anticipated to be
         conducted, and to past or current or anticipated products or services.
         It also includes, without limitation, information concerning research,
         development, purchasing, accounting, marketing and selling. All
         information which you have a reasonable basis to consider confidential
         is Confidential Information, whether or not originated by you and
         without regard to the manner in which you obtain access to that and any
         other proprietary information.

9.       "Date of Termination" following a Change in Control (or prior to a
          -------------------
         Change in Control if your termination was either a condition of the
         Change in Control or was at the request or insistence of any Person
         related to the Change in Control) means:

         a.    if your employment is to be terminated for Disability, 30 days
               after Notice of Termination is given (provided that you have not
               returned to the performance of your duties on a full-time basis
               during such 30-day period);

         b.    if your employment is to be terminated by the Company for Cause
               or by you for Good Reason, the date specified in the Notice of
               Termination, which date may not be less than 30 days or more than
               60 days after the date on which the Notice of Termination is
               given unless you and the Company otherwise expressly agree;

         c.    if your employment is to be terminated by the Company for any
               reason other than Cause, Disability, death or Retirement, the
               date specified in the Notice of Termination, which in no event
               may be a date earlier than 90 days after the date on

                                       4
<PAGE>

               which a Notice of Termination is given, unless an earlier date
               has been expressly agreed to by you in writing either in advance
               of, or after receiving such Notice of Termination; or

         d.    if your employment is terminated by reason of death or
               Retirement, the date of death or Retirement, respectively.

         In the case of termination by the Company of your employment for Cause,
         if you have not previously expressly agreed in writing to the
         termination, then within 30 days after receipt by you of the Notice of
         Termination with respect thereto, you may notify the Company that a
         dispute exists concerning the termination, in which event the Date of
         Termination will be the date set either by mutual written agreement of
         the parties or by the judge or arbitrators in a proceeding as provided
         in Article VII, Section 7 of this Agreement. During the pendency of any
         such dispute, you will continue to make yourself available to provide
         services to the Company and the Company will continue to pay you your
         full compensation and benefits in effect immediately prior to the date
         on which the Notice of Termination is given (without regard to any
         changes to such compensation or benefits which constitute Good Reason)
         and until the dispute is resolved in accordance with Article VII,
         Section 7 of this Agreement. You will be entitled to retain the full
         amount of any such compensation and benefits without regard to the
         resolution of the dispute unless the judge or arbitrators decide(s)
         that your claim of a dispute was frivolous or advanced by you in bad
         faith.

10.      "Disability" means a disability as defined in the Company's long-term
          ----------
         disability plan as in effect immediately prior to the Change in Control
         or; in the absence of such a plan, means permanent and total disability
         as defined in Section 22(e)(3) of the Code.

11.      "Exchange Act" means the Securities Exchange Act of 1934, as amended.
          ------------
         Any reference to a specific provision of the Exchange Act or to any
         rule or regulation thereunder includes a reference to such provision as
         it may be amended from time to time and to any successor provision.

12.      "Good Reason" means:
          -----------

         a.    change in your status, position(s), duties or responsibilities as
               an executive of the Company as in effect immediately prior to the
               Change in Control which, in your reasonable judgment, is an
               adverse change (other than, if applicable, any such change
               directly attributable to the fact that the Company is no longer
               publicly owned) except in connection with the termination of your
               employment for Cause, Disability or Retirement or as a result of
               your death or by you other than for Good Reason;

         b.    a reduction by the Company in your base salary (or an adverse
               change in the form or timing of the payment thereof) as in effect
               immediately prior to the Change in Control or as thereafter
               increased;

         c.    the failure by the Company to continue in effect any Plan in
               which you (and/or your family) are eligible to participate at any
               time during the 90-day period immediately

                                       5
<PAGE>

               preceding the Change in Control (or Plans providing you (and/or
               your family) with at least substantially similar benefits) other
               than as a result of the normal expiration of any such Plan in
               accordance with its terms as in effect immediately prior to the
               90-day period immediately preceding the time of the Change in
               Control, or the taking of any action, or the failure to act, by
               the Company which would adversely affect your (and/or your
               family's) continued eligibility to participate in any of such
               Plans on at least as favorable a basis to you (and/or your
               family) as is the case on the date of the Change in Control or
               which would materially reduce your (and/or your family's)
               benefits in the future under any of such Plans or deprive you
               (and/or your family) of any material benefit enjoyed by you
               (and/or your family) at the time of the Change in Control;

         d.    the Company's requiring you to be based more than 30 miles from
               where your office is located immediately prior to the Change in
               Control, except for required travel on the Company's business,
               and then only to the extent substantially consistent with the
               business travel obligations which you undertook on behalf of the
               Company during the 90-day period immediately preceding the Change
               in Control (without regard to travel related to or in
               anticipation of the Change in Control);

         e.    the failure by the Company to obtain from any Successor the
               assent to this Agreement contemplated by Article VI of this
               Agreement;

         f.    any purported termination by the Company of your employment which
               is not properly effected pursuant to a Notice of Termination and
               pursuant to any other requirements of this Agreement, and for
               purposes of this Agreement, no such purported termination will be
               effective;

         g.    any refusal by the Company to continue to allow you to attend to
               matters or engage in activities not directly related to the
               business of the Company which, at any time prior to the Change in
               Control, you were not expressly prohibited in writing by the
               Board from attending to or engaging in; or

         h.    your termination of your employment with the Company for any
               reason other than death, Disability or Retirement during the
               twelfth (12th) month following the month in which a Change in
               Control occurs.

13.      "Highest Monthly Compensation" means one-twelfth of the highest amount
          ----------------------------
         of your compensation for any 12 consecutive calendar-month period
         during the 36 consecutive calendar-month period prior to the month that
         includes the Date of Termination. For purposes of this definition,
         "compensation" means the amount reportable by the Company, for federal
         income tax purposes, as wages paid to you by the Company, increased by
         the amount of contributions made by the Company with respect to you
         under any qualified cash or deferred arrangement or cafeteria plan that
         is not then includable in your income by reason of the operation of
         Section 402(a)(8) or Section 125 of the Code, and increased further by
         any other compensation deferred for any reason.

                                       6
<PAGE>

14.      "Notice of Termination" means a written notice given on or after the
          ---------------------
         date of a Change in Control (unless your termination before the date of
         the Change in Control was either a condition of the Change in Control
         or was at the request or insistence of any Person related to the Change
         in Control) which indicates the specific termination provision in this
         Agreement pursuant to which the notice is given. Any purported
         termination by the Company or by you for Good Reason on or after the
         date of a Change in Control (or before the date of a Change in Control
         if your termination was either a condition of the Change in Control or
         was at the request or insistence of any Person related to the Change in
         Control) must be communicated by written Notice of Termination to be
         effective; provided, that your failure to provide Notice of Termination
         will not limit any of your rights under this Agreement except to the
         extent the Company demonstrates that it suffered material actual
         damages by reason of such failure.

15.      "Person" means any individual, corporation, partnership, group,
          ------
         association or other "person," as such term is used in Section 14(d) of
         the Exchange Act, other than the Company, any Affiliate or any employee
         benefit plan(s) sponsored by the Company or an Affiliate.

16.      "Plan" means any compensation plan, program, policy or agreement (such
          ----
         as a stock option, restricted stock plan or other equity-based plan),
         any bonus or incentive compensation plan, program, policy or agreement,
         any employee benefit plan, program, policy or agreement (such as a
         thrift, pension, profit sharing, medical, dental, disability, accident,
         life insurance, relocation, salary continuation, expense
         reimbursements, vacation, fringe benefits, office and support staff
         plan or policy) or any other plan, program, policy or agreement of the
         Company intended to benefit employees (and/or their families)
         generally, management employees (and/or their families) as a group or
         you (and/or your family) in particular.

17.      "Retirement" means termination of employment on or after the day on
          ----------
         which you attain the age of 65.

18.      "Successor" means any Person that succeeds to, or has the practical
          ---------
         ability to control (either immediately or solely with the passage of
         time), the Company's business directly, by merger, consolidation or
         other form of business combination, or indirectly, by purchase of the
         Company's outstanding securities ordinarily having the right to vote at
         the election of directors or, all or substantially all of its assets or
         otherwise.

                                       7
<PAGE>

                                  ARTICLE II.
                               TERM OF AGREEMENT
                               -----------------

This Agreement is effective immediately and will continue in effect until
________________, ______; provided, however; that commencing on _________,
_______ and each __________________ thereafter, the term of this Agreement will
automatically be extended for 12 additional months beyond the expiration date
otherwise then in effect, unless at least 90 calendar days prior to any such
March 1, the Company or you has given notice that this Agreement will not be
extended; and, provided, further; that if a Change in Control has occurred
during the term of this Agreement, this Agreement will continue in effect beyond
the termination date then in effect for a period of 12 months following the
month during which the Change in Control occurs or, if later, until the date on
which the Company's obligations to you arising under or in connection with this
Agreement have been satisfied in full.

                                 ARTICLE III.
                          CHANGE IN CONTROL BENEFITS
                          --------------------------

1.       Benefits upon a Change in Control Termination. You will become entitled
         ---------------------------------------------
         to the payments and benefits described in clauses (a) and (b) of this
         Article III., subject to the limitations described in clause (c) of
         this Article III., if and only if (i) your employment with the Company
         is terminated for any reason other than death, Cause, Disability or
         Retirement, or if you terminate your employment with the Company for
         Good Reason; and (ii) the termination occurs either within the period
         beginning on the date of a Change in Control and ending on the last day
         of the twelfth month that begins after the month during which the
         Change in Control occurs or prior to a Change in Control if your
         termination was either a condition of the Change in Control or was at
         the request or insistence of a Person related to the Change in Control.

         a.    Cash Payment. Within five business days following the Date of
               ------------
               Termination or, if later, within five business days following the
               date of the Change in Control, the Company will make a lump-sum
               cash payment to you in an amount equal to the product of (i) your
               Highest Monthly Compensation multiplied by (ii) 36.

         b.    Welfare Plans. The Company will maintain in full force and
               -------------
               effect, for the continued benefit of you and your dependents for
               a period terminating 36 months after the Date of Termination, all
               insured and self-insured employee welfare benefit Plans
               (including, without limitation, medical, life, dental, vision and
               disability plans) in which you were eligible to participate at
               any time during the 90-day period immediately preceding the
               Change in Control, provided that your continued participation is
               possible under the general terms and provisions of such Plans and
               any applicable funding media and without regard to any
               discretionary amendments to such Plans by the Company following
               the Change in Control (or prior to the Change in Control if
               amended as a condition or at the request or insistence of a
               Person (other than the Company) related to the Change in Control)
               and provided that you continue to pay an amount equal to your
               regular contribution under such Plans for such participation
               (based upon your level of benefits and employment status

                                       8
<PAGE>

               most favorable to you at any time during the 90-day period
               immediately preceding the Change in Control). The continuation
               period under federal and state continuation laws, to the extent
               applicable, will begin to run from the date on which coverage
               pursuant to this clause (b) ends. If, at the end of the 36-month
               period, you have not previously received or are not then
               receiving equivalent benefits from a new employer (including
               coverage for any pre-existing conditions), the Company will
               arrange, at its sole cost and expense, to enable you to convert
               your and your dependents' coverage under such Plans to individual
               policies or programs upon the same terms as executives of the
               Company may apply for such conversions. In the event that your or
               your dependents' participation in any such Plan is barred, the
               Company, at its sole cost and expense, will arrange to have
               issued for the benefit of you and your dependents individual
               policies of insurance providing benefits substantially similar
               (on a federal, state and local income and employment after-tax
               basis) to those which you otherwise would have been entitled to
               receive under such Plans pursuant to this clause (b) or; if such
               insurance is not available at a reasonable cost to the Company,
               the Company will otherwise provide you and your dependents
               equivalent benefits (on a federal, state and local income and
               employment after-tax basis). You will not be required to pay any
               premiums or other charges in an amount greater than that which
               you would have paid in order to participate in such Plans.

         c.    Limitation on Change in Control Payments. Notwithstanding
               ----------------------------------------
               anything in this Agreement to the contrary, if any of the
               payments or benefits to be made or provided in connection with
               this Agreement, together with any other payments, benefits or
               awards which you have the right to receive from the Company, or
               any corporation which is a member of an "affiliated group" (as
               defined in Section 1504(a) of the Code without regard to Section
               1504(b) of the Code) of which the Company is a member
               ("Affiliate"), constitute an "excess parachute payment" (as
               defined in Section 280G(b) of the Code), two calculations will be
               performed. In the first calculation, the payments, benefits or
               awards to be received solely pursuant to this Agreement (and
               excluding any benefits to be received from the existing Stock
               Option and Incentive Plan) will be reduced by the amount the
               Company deems necessary so that none of the payments or benefits
               under the Agreement (including those from the existing Stock
               Option and Incentive Plan) are excess parachute payments. In the
               second calculation, the payments will not be reduced so as to
               eliminate an excess parachute payment, but will be reduced by the
               amount of the applicable excise tax that the officer will pay
               related to all change in control benefits received as imposed by
               Section 4999 of the Code. The two calculations will be compared
               and the calculation providing the largest net payment to the
               employee will be utilized to determine the change in control
               payments made to the officer. The calculations must be made in
               good faith by legal counsel or a certified public accountant
               selected by the Company, and such determination will be
               conclusive and binding upon you and the Company.

               If a reduction in payments or benefits is required by the
               comparison above, the payments or benefits under the Agreement
               shall be reduced in the order that

                                       9
<PAGE>

               minimizes the amount of total reduction in payments and benefits
               under the Agreement as a result of this provision.

2.       Disposition. If, on or after the date of a Change in Control, an
         -----------
         Affiliate is sold, merged, transferred or in any other manner or for
         any other reason ceases to be an Affiliate or all or any portion of the
         business or assets of an Affiliate are sold, transferred or otherwise
         disposed of and the acquiror is not the Company or an Affiliate (a
         "Disposition"), and you remain or become employed by the acquiror or an
         affiliate of the acquiror (as defined in this Agreement but
         substituting "acquiror" for "Company") in connection with the
         Disposition, you will be deemed to have terminated employment on the
         effective date of the Disposition for purposes of this section unless
         (a) the acquiror and its affiliates jointly and severally expressly
         assume and agree, in a manner that is enforceable by you, to perform
         the obligations of this Agreement to the same extent that the Company
         would be required to perform if the Disposition had not occurred and
         (b) the Successor guarantees, in a manner that is enforceable by you,
         payment and performance by the acquiror.

                                  ARTICLE IV.
                                INDEMNIFICATION
                                ---------------

Following a Change in Control, the Company will indemnify and advance expenses
to you to the full extent permitted by law and the Company's articles of
incorporation and bylaws for damages, costs and expenses (including, without
limitation, judgments, fines, penalties, settlements and reasonable fees and
expenses of your counsel) incurred in connection with all matters, events and
transactions relating to your service to or status with the Company or any other
corporation, employee benefit plan or other entity with whom you served at the
request of the Company.

                                  ARTICLE V.
                                CONFIDENTIALITY
                                ---------------

You will not use, other than in connection with your employment with the
Company, or disclose any Confidential Information to any person not employed by
the Company or not authorized by the Company to receive such Confidential
Information, without the prior written consent of the Company; and you will use
reasonable and prudent care to safeguard and protect and prevent the
unauthorized disclosure of Confidential Information. Nothing in this Agreement
will prevent you from using, disclosing or authorizing the disclosure of any
Confidential Information: (a) which is or hereafter becomes part of the public
domain or otherwise becomes generally available to the public through no fault
of yours; (b) to the extent and upon the terms and conditions that the Company
may have previously made the Confidential Information available to certain
persons; or (c) to the extent that you are required to disclose such
Confidential Information by law or judicial or administrative process.

                                  ARTICLE VI.
                                  SUCCESSORS
                                  ----------
The Company will seek to have any Successor, by agreement in form and
substance satisfactory to you, assent to the fulfillment by the Company of the
Company's obligations under this Agreement.

                                       10
<PAGE>

Failure of the Company to obtain such assent at least three business days prior
to the time a Person becomes a Successor (or where the Company does not have at
least three business days' advance notice that a Person may become a Successor,
within one business day after having notice that such Person may become or has
become a Successor) will constitute Good Reason for termination by you of your
employment. The date on which any such succession becomes effective will be
deemed the Date of Termination and Notice of Termination will be deemed to have
been given on that date. A Successor has no rights, authority or power with
respect to this Agreement prior to a Change in Control.

                                 ARTICLE VII.
                               OTHER PROVISIONS
                               ----------------

1.       Fees and Expenses. The Company, upon demand, will pay or reimburse you
         -----------------
         for all reasonable legal fees, court costs, experts' fees and related
         costs and expenses incurred by you in connection with any actual,
         threatened or contemplated litigation or legal, administrative,
         arbitration or other proceeding relating to this Agreement to which you
         are or reasonably expect to become a party, whether or not initiated by
         you, including, without limitation: (a) all such fees and expenses, if
         any, incurred in contesting or disputing any such termination; or (b)
         your seeking to obtain or enforce any right or benefit provided by this
         Agreement; provided, however; you will be required to repay (without
         interest) any such amounts to the Company to the extent that a court
         issues a final and non-appealable order setting forth the determination
         that the position taken by you was frivolous or advanced by you in bad
         faith.

2.       Binding Agreement. This Agreement inures to the benefit of, and is
         -----------------
         enforceable by, you, your personal and legal representatives,
         executors, administrators, successors, heirs, distributees, devisees
         and legatees. If you die while any amount would still be payable to you
         under this Agreement if you had continued to live, all such amounts,
         unless otherwise provided in this Agreement, will be paid in accordance
         with the terms of this Agreement to your devisee, legatee or other
         designee or; if there be no such designee, to your estate.

3.       No Mitigation. You will not be required to mitigate the amount of any
         -------------
         payments or benefits the Company becomes obligated to make or provide
         to you in connection with this Agreement by seeking other employment or
         otherwise. The payments or benefits to be made or provided to you in
         connection with this Agreement may not be reduced, offset or subject to
         recovery by the Company by any payments or benefits you may receive
         from other employment or otherwise.

4.       No Setoff. The Company has no right to setoff payments or benefits owed
         ---------
         to you under this Agreement against amounts owed or claimed to be owed
         by you to the Company under this Agreement or otherwise.

5.       Taxes. All payments and benefits to be made or provided to you in
         -----
         connection with this Agreement will be subject to required withholding
         of federal, state and local income, excise and employment-related
         taxes.

                                       11
<PAGE>

6.       Notices. For the purposes of this Agreement, notices and all other
         -------
         communications provided for in, or required under, this Agreement must
         be in writing and will be deemed to have been duly given when
         personally delivered or when mailed by United States registered or
         certified mail, return receipt requested, postage prepaid and addressed
         to each party's respective address set forth on the first page of this
         Agreement (provided that all notices to the Company must be directed to
         the attention of the chair of the Board), or to such other address as
         either party may have furnished to the other in writing in accordance
         with these provisions, except that notice of change of address will be
         effective only upon receipt.

7.       Disputes. If you so elect, any dispute, controversy or claim arising
         --------
         under or in connection with this Agreement will be settled exclusively
         by binding arbitration administered by the American Arbitration
         Association in Minneapolis, Minnesota in accordance with the Commercial
         Arbitration Rules of the American Arbitration Association then in
         effect. Judgment may be entered on the arbitrator's award in any court
         having jurisdiction; provided, that you may seek specific performance
         of your right to receive payment or benefits until the Date of
         Termination during the pendency of any dispute or controversy arising
         under or in connection with this Agreement. The Company will be
         entitled to seek an injunction or restraining order in a court of
         competent jurisdiction (within or without the State of Minnesota) to
         enforce the provisions of Article V of this Agreement.

8.       Jurisdiction. Except as specifically provided otherwise in this
         ------------
         Agreement, the parties agree that any action or proceeding arising
         under or in connection with this Agreement must be brought in a court
         of competent jurisdiction in the State of Minnesota, and hereby consent
         to the exclusive jurisdiction of said courts for this purpose and agree
         not to assert that such courts are an inconvenient forum.

9.       Related Agreements. To the extent that any provision of any other Plan
         ------------------
         or agreement between the Company and you limits, qualifies or is
         inconsistent with any provision of this Agreement, then for purposes of
         this Agreement, while such other Plan or agreement remains in force,
         the provision of this Agreement will control and such provision of such
         other Plan or agreement will be deemed to have been superseded, and to
         be of no force or effect, as if such other agreement had been formally
         amended to the extent necessary to accomplish such purpose. Nothing in
         this Agreement prevents or limits your continuing or future
         participation in any Plan provided by the Company and for which you may
         qualify, and nothing in this Agreement limits or otherwise affects the
         rights you may have under any Plans or other agreements with the
         Company. Amounts which are vested benefits or which you are otherwise
         entitled to receive under any Plan or other agreement with the Company
         at or subsequent to the Date of Termination will be payable in
         accordance with such Plan or other agreement.

10.      No Employment or Service Contract. Nothing in this Agreement is
         ---------------------------------
         intended to provide you with any right to continue in the employ of the
         Company for any period of specific duration or interfere with or
         otherwise restrict in any way your rights or the rights of the Company,
         which rights are hereby expressly reserved by each, to terminate your
         employment at any time for any reason or no reason whatsoever, with or
         without cause.

                                       12
<PAGE>

11.      Funding and Payment. Benefits payable under this Agreement will be paid
         -------------------
         only from the general assets of the Company. No person has any right to
         or interest in any specific assets of the Company by reason of this
         Agreement. To the extent benefits under this Agreement are not paid
         when due to any individual, he or she is a general unsecured creditor
         of the Company with respect to any amounts due. The Company with whom
         you were employed immediately before your Date of Termination has
         primary responsibility for benefits to which you or any other person
         are entitled pursuant to this Agreement but to the extent such Company
         is unable or unwilling to provide such benefits, the Company and each
         other Affiliate are jointly and severally responsible therefor to the
         extent permitted by applicable law. If you were simultaneously employed
         by more than one Company immediately before your Date of Termination,
         each such Company has primary responsibility for a portion of the
         benefits to which you or any other person are entitled pursuant to this
         Agreement that bears the same ratio to the total benefits to which you
         or such other person are entitled pursuant to this Agreement as your
         base pay from the Company immediately before your Date of Termination
         bears to your aggregate base pay from all such Companies.

12.      Survival. The respective obligations of, and benefits afforded to, the
         --------
         Company and you which by their express terms or clear intent survive
         termination of your employment with the Company or termination of this
         Agreement, as the case may be, will survive termination of your
         employment with the Company or termination of this Agreement, as the
         case may be, and will remain in full force and effect according to
         their terms.

                                 ARTICLE VIII.
                                 MISCELLANEOUS
                                 -------------

1.       Modification and Waiver. No provision of this Agreement may be
         -----------------------
         modified, waived or discharged unless such modification, waiver or
         discharge is agreed to in a writing signed by you and the chair of the
         Board. No waiver by any party to this Agreement at any time of any
         breach by another party to this Agreement of, or of compliance with,
         any condition or provision of this Agreement to be performed by such
         party will be deemed a waiver of similar or dissimilar provisions or
         conditions at the same or at any prior or subsequent time.

2.       Entire Agreement. No agreements or representations, oral or otherwise,
         ----------------
         express or implied, with respect to the subject matter to this
         Agreement have been made by any party which are not expressly set forth
         in this Agreement.

3.       Governing Law. This Agreement and the legal relations among the parties
         -------------
         as to all matters, including, without limitation, matters of validity,
         interpretation, construction, performance and remedies, will be
         governed by and construed exclusively in accordance with the internal
         laws of the State of Minnesota (without regard to the conflict of laws
         principles of any jurisdiction).

4.       Headings. Headings are for purposes of convenience only and do not
         --------
         constitute a part of this Agreement.

                                       13
<PAGE>

5.       Further Acts. The parties to this Agreement agree to perform, or cause
         ------------
         to be performed, such further acts and deeds and to execute and deliver
         or cause to be executed and delivered, such additional or supplemental
         documents or instruments as may be reasonably required by the other
         party to carry into effect the intent and purpose of this Agreement.

6.       Severability. The invalidity or unenforceability of all or any part of
         ------------
         any provision of this Agreement will not affect the validity or
         enforceability of the remainder of such provision or of any other
         provision of this Agreement, which will remain in full force and
         effect.

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

                                       14
<PAGE>

If this letter correctly sets forth our agreement on the subject matter
discussed above, kindly sign and return to the Company the enclosed copy of this
letter which will then constitute our agreement on this subject.

Sincerely,

                                    BIO-VASCULAR, INC.

                                    By:_________________________________________

                                    Name:_______________________________________

                                    Title:______________________________________

                                    Agreed to this ____ day of __________, _____

                                    ____________________________________________
                                    (Name Typed)

                                       15<PAGE>

                                 AMENDMENT NO. 2

                                       TO

               MASTER MOTOR VEHICLE LEASE AND SERVICING AGREEMENT

                          dated as of November 9, 2000

                                      among

                            RENTAL CAR FINANCE CORP.,
                                    as Lessor

                        DOLLAR RENT A CAR SYSTEMS, INC.,
                                   as a Lessee

                        THRIFTY RENT-A-CAR SYSTEM, INC.,
                                   as a Lessee

                                       and

                     DOLLAR THRIFTY AUTOMOTIVE GROUP, INC.,
                        as Master Servicer and Guarantor

<PAGE>

                                 AMENDMENT NO. 2
              TO MASTER MOTOR VEHICLE LEASE AND SERVICING AGREEMENT

         This  Amendment  No.  2  to  Master  Motor  Vehicle Lease and Servicing
Agreement dated as of November 9, 2000  ("Amendment"),  among Rental Car Finance
Corp., an Oklahoma corporation, as Lessor ("Lessor"), Dollar Rent A Car Systems,
Inc., an  Oklahoma  corporation,  as a  Lessee  ("Dollar"),  Thrifty  Rent-A-Car
System,  Inc.,  an Oklahoma  corporation,  as a Lessee  ("Thrifty")  (Dollar and
Thrifty  are  collectively  referred  to herein as the  "Lessees"),  and  Dollar
Thrifty Automotive Group, Inc., a Delaware  corporation,  as Master Servicer and
Guarantor (in such capacity, the "Guarantor")(Lessor,  Lessees and the Guarantor
are collectively referred to herein as the "Parties").

                                    RECITALS:

         A. Lessor,  Lessee and the Guarantor  entered into that certain  Master
Motor  Vehicle  Lease and  Servicing  Agreement  dated as of March 4,  1998,  as
subsequently  amended  by  Amendment  No. 1 to Master  Motor  Vehicle  Lease and
Servicing  Agreement  dated as of November 19, 1998  (collectively,  the "Master
Lease"); and

         B. The Parties wish to amend the Master Lease as provided herein.

         NOW THEREFORE, the Parties hereto agree as follows:

         1. Definitions.  Capitalized  terms  used in  this Amendment not herein
defined shall have the meaning contained in the Master Lease.

         2. Amendments.  The Master  Lease is hereby  amended by  deleting
Section 24.15 in its entirety and replacing it with the following:

                  "Section 24.15. Dividends or other Distributions by Guarantor.
                  On and  after  the  Lease  Commencement  Date,  DTAG  will not
                  declare,  pay or make any  Distribution  with  respect  to any
                  shares of its Capital Stock (now or hereafter  outstanding) or
                  on any  warrants,  options or other rights with respect to any
                  such shares of Capital Stock (now or hereafter outstanding) or
                  apply, or permit any of its  Subsidiaries to apply, any of its
                  funds, property or assets to the purchase, redemption, sinking
                  fund or other  retirement  of, or agree or  permit  any of its
                  Subsidiaries to purchase or redeem, any shares of any class of
                  Capital  Stock  (now or  hereafter  outstanding)  of DTAG,  or
                  warrants,  options or other  rights  with  respect to any such
                  shares of Capital  Stock  (now or  hereafter  outstanding)  of
                  DTAG; provided,  however,  that DTAG may declare, pay and make
                  cash Distributions to, and purchase or

                                       -1-

<PAGE>

                  redeem any  shares of any  class of its Capital Stock held by,
                  its stockholders in any Fiscal Year, so long as

                  (i) both before and after giving  effect to any such  payment,
                  purchase   or   redemption,   no  Lease   Event  of   Default,
                  Amortization  Event,  Liquidation  Event of  Default or Series
                  1998-1  Limited   Liquidation  Event  of  Default  shall  have
                  occurred and be continuing,

                  (ii) the aggregate amount of

                  (A)  such  Distribution  to be made by DTAG  pursuant  to this
                  Section 24.15,  when added to the aggregate amount of all such
                  Distributions   during   the   Fiscal   Year  in  which   such
                  Distribution  would be made,  does not  exceed  the amount set
                  forth below opposite such Fiscal Year

                    Fiscal Year                          Amount
                    -----------                          ------
                  2000 Fiscal Year         The lesser of (i) 25% of Excess Cash
                                               Flow for the 1999 Fiscal Year and
                                               (ii) $5,000,000
                  2001 Fiscal Year          The lesser of (i) 25% of Excess Cash
                                               Flow for the 2000 Fiscal Year and
                                               (ii) $8,000,000
                  2002 Fiscal Year          The lesser of (i) 25% of Excess Cash
                                               Flow for the 2001 Fiscal Year and
                                               (ii) $11,000,000
                  2003 Fiscal Year          The lesser of (i) 25% of Excess Cash
                                               Flow for the 2002 Fiscal Year and
                                               (ii) $14,000,000
                  2004 Fiscal Year          The lesser of (i) 25% of Excess Cash
                                               Flow for the 2003 Fiscal Year and
                                               (ii) $17,000,000
                  2005 Fiscal Year          The lesser of (i) 25% of Excess Cash
                                               Flow for the 2004 Fiscal Year and
                                               (ii) $20,000,000; or

                  (B) such purchase or redemption  does not exceed the excess of
                  (1) the  sum of (x)  $15,000,000  and  (y)  25% of  Cumulative
                  Excess Cash Flow (as defined in the Credit Agreement) over (2)
                  the sum of (x) the  aggregate  amount  of  Distributions  made
                  prior to such date and

                                       -2-

<PAGE>

                  subsequent  to January 1, 2000 by DTAG,  and (y) the aggregate
                  amount  of all other  purchases  and  redemptions  consummated
                  prior to such purchase or redemption."

         3. Effect of  Amendment.  Except as expressly  set forth  herein,  this
Amendment  shall not by implication  or otherwise  limit,  impair,  constitute a
waiver of, or  otherwise  affect the rights and  remedies  of any of the Parties
hereto under the Master Lease, nor alter, modify, amend or in any way affect any
of the terms, conditions,  obligations, covenants or agreements contained in the
Master Lease,  all of which are hereby  ratified and affirmed in all respects by
each of the Parties  hereto and shall  continue  in full force and effect.  This
Amendment  shall apply and be effective  only with respect to the  provisions of
the Master  Lease  specifically  referred  to herein and any  references  in the
Master  Lease to the  provisions  of the Master Lease  specifically  referred to
herein shall be to such provisions as amended by this Amendment.

         4. Applicable  Provisions.  Pursuant to Section 22 of the Master Lease,
the Lessor,  the Lessees and the  Guarantor  may enter into an  amendment to the
Master Lease  provided  that the Master  Collateral  Agent and the Trustee,  the
Required Group II Noteholders and each Enhancement Provider with respect to each
Series of Notes included in Group II consent thereto in writing.

         5. Waiver of Notice.   Each  of the  Parties  hereto  waives  any prior
notice and  any notice  period that  may be required  by any  other agreement or
document in connection with the execution of this Amendment.

         6. Binding Effect.  This Amendment  shall be binding  upon and inure to
the benefit of the Parties and their respective successors and assigns.

         7. GOVERNING LAW. THIS AMENDMENT  SHALL BE CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE  STATE OF NEW YORK  (WITHOUT  GIVING  EFFECT  TO THE  PROVISIONS
THEREOF REGARDING  CONFLICTS OF LAWS), AND THE OBLIGATIONS,  RIGHTS AND REMEDIES
OF THE PARTIES HERETO SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

         8. Counterparts.  This  Amendment  may be  executed  in  any  number of
counterparts and  by different parties hereto  in separate counterparts, each of
which when executed and delivered shall  be deemed to be an original  and all of
which taken together shall constitute but one and the same agreement.

                                       -3-

<PAGE>

         IN WITNESS  WHEREOF,  the Parties have caused this Amendment to be duly
executed and delivered as of the day and year first above written.

                                       LESSOR:

                                       RENTAL CAR FINANCE CORP.,
                                       an Oklahoma corporation

                                       By: _____________________________________
                                           Pamela S. Peck
                                           Vice President and Treasurer

                                       LESSEES:

                                       DOLLAR RENT A CAR SYSTEMS, INC.,
                                       an Oklahoma corporation

                                       By: _____________________________________
                                           Michael H. McMahon
                                           Treasurer

                                       THRIFTY RENT-A-CAR SYSTEM, INC.,
                                       an Oklahoma corporation

                                       By: _____________________________________
                                           Pamela S. Peck
                                           Treasurer

                                       GUARANTOR:

                                       DOLLAR THRIFTY AUTOMOTIVE GROUP, INC.,
                                       a Delaware corporation

                                       By: _____________________________________
                                           Pamela S. Peck
                                           Treasurer

                                       -4-

<PAGE>

         The following  hereby consent to the foregoing  Amendment as of the day
and year first above written.

                                       MASTER COLLATERAL AGENT AND TRUSTEE:

                                       BANKERS TRUST COMPANY, a New York banking
                                       corporation

                                       By: _____________________________________
                                           Name: _______________________________
                                           Title: ______________________________

                                       SOLE GROUP II NOTEHOLDER:

                                       DOLLAR THRIFTY FUNDING CORP.,
                                       an Oklahoma corporation

                                       By: _____________________________________
                                           Pamela S. Peck
                                           Vice President and Treasurer

                                       ENHANCEMENT PROVIDER:

                                       CREDIT SUISSE FIRST BOSTON, NEW YORK
                                       BRANCH, a Swiss banking corporation

                                       By: _____________________________________
                                           Name: _______________________________
                                           Title: ______________________________

                                       By: _____________________________________
                                           Name: _______________________________
                                           Title: ______________________________

                                       -5-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00021-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00021-of-00352.parquet"}]]