Document:

exv10w3

Exhibit 10.3

[Dionex letterhead]

December 15, 2010

Mr. Frank Witney

219 Cross Rd.

Oakland, CA 94618

Re: 280G Gross-Up

Dear Frank:

The Board of Directors of Dionex Corporation (the “Company”) has determined that it is in the best
interests of the Company and its stockholders to assure the Company will have your continued
dedication, notwithstanding the possibility, threat or occurrence of a “Change in Control,” as
defined in the Change in Control Severance Benefit Plan (the “Plan”), attached hereto as
Exhibit A. Therefore, in order to accomplish these objectives, the Company’s Board of
Directors has caused the Company to enter into this agreement (this “Agreement”). Capitalized
terms not explicitly defined in this Agreement but defined in the Plan shall have the same
definitions as in the Plan:

The parties hereby agree as follows:

     1. Notwithstanding Section 5(g) of the Plan, if any Payment would constitute a “parachute
payment” within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the
“Code”), and but for Section 5(g) of the Plan would be subject to the excise tax imposed by Section
4999 of the Code (the “Excise Tax”), then subject to Section 2 of this Agreement such amount shall
not be reduced, and instead the Company shall pay you a “Gross-Up Payment.” For this purpose,
“Gross-Up Payment” means an amount such that, after your payment of (a) all federal, state, local
and foreign income, excise, social security and other taxes, and any interest and penalties imposed
with respect thereto (excluding the Excise Tax), and (b) the Excise Tax imposed upon the Gross-Up
Payment, you retain an amount of the Gross-Up Payment equal to the Excise Tax imposed upon the
Payment. For purposes of determining the amount of the Gross-Up Payment, you shall be deemed to
pay federal income taxes at the highest marginal rate of federal income taxation in the calendar
year in which the Gross-Up Payment is to be made, and state and local income taxes at the highest
marginal rate of taxation in either the state and locality of your place of employment at the time
of the Change in Control or in the state and locality of residence at the time or times of payment,
as applicable, net of the maximum reduction in federal income taxes that could be obtained from the
deduction of the state and local taxes. Notwithstanding the foregoing, if your Gross-Up Payment
would exceed the “Gross-Up Cap” (as defined below), your Gross-Up Payment will equal the Gross-Up
Cap, and you will be solely responsible for any tax or other liabilities in excess of the Gross-Up
Cap, including, without limitation, any additional Excise Tax.

     2. For purposes of this Agreement, the “Gross-Up Cap” equals $750,000 multiplied by your
Percentage Interest (as defined below); provided, however, that if it is determined that the
Reduced Amount you would receive under Section 5(g) of the Plan, without taking into account this
Agreement, would exceed your Payment under the Plan plus the Gross-Up Payment under this Agreement,
in each case determined after taking into account all applicable federal, state and local
employment taxes, income taxes, and the Excise Tax, all computed at the highest applicable marginal
rates, then your Gross-Up Cap will equal zero, and you shall receive the Reduced Amount. For
purposes of this Agreement, your Percentage Interest equals (a) the Excise Tax applicable to your
Payment (before application of Section

 

 

5(g) of the Plan and the provisions of this Agreement) divided by (b) the sum of the Excise
Tax described in clause (a) above plus the Excise Tax applicable to Michael Pettigrew’s Payment
(before application of Section 5(g) of the Plan and the provisions of this Agreement), unless
Michael Pettigrew is determined to have a Gross-Up Cap equal to zero, in which case your Percentage
Interest shall equal 100%.

     3. All determinations required to be made under this Agreement, including whether and when a
Gross-Up Payment is required and the amount of such Gross-Up Payment, and the assumptions to be
utilized in arriving at such determinations, shall be made by the accounting firm engaged by the
Company to provide the other calculations required by Section 5(g) of the Plan. The calculation of
the Gross-Up Cap shall be made as of the Effective Time of the merger that is expected to occur
pursuant to the Agreement and Plan of Merger among Thermo Fisher Scientific Inc., Weston D Merger
Co. and the Company, dated as of December 12, 2010 (the “Merger”), and the remaining determinations
under Section 5(g) of the Plan shall be made and will be provided to you within fifteen calendar
days after the date on which your right to a Payment is triggered. Any Gross-Up Payment that
becomes due pursuant to this Agreement shall be paid by the Company to you on the same date that
any Payment is made, or if later, within five days of the receipt of the accounting firm’s
calculations, but, for purposes of compliance with Section 409A of the Code, in no event later than
the end of the calendar year next following the calendar year in which you have remitted the Excise
Tax in respect of the Payment.

     4. Notwithstanding any other provision of this Agreement, the Company may, in its sole
discretion, withhold and pay over to the Internal Revenue Service or any other applicable taxing
authority, for your benefit, all or any portion of the Gross-Up Payment, and you hereby consent to
such withholding.

This Agreement, together with the attached Plan, will form the complete and exclusive statement of
your rights under the Plan. The terms in this Agreement supersede any other agreements, promises
or representations made to you by anyone, whether oral or written regarding the subject matters
hereof. This Agreement cannot be changed except in a written agreement signed by you and a duly
authorized member of the Company’s Board of Directors. If the Merger is not consummated, this
Agreement shall be of no further force or effect.

If this Agreement is acceptable to you, please sign below and return the original to me.

Sincerely,

	 	 	 	 	 
	/s/
Rod McGeary 
 	 
	Rod McGeary 	 
	On behalf of the Board of Directors 	 

Agreed and Accepted:

	 	 	 

	/s/
Frank Witney 

	 	December 16, 2010
	Frank Witney

	 	Date

2Exhibit 10.1

Exhibit 10.1

December 14, 2010

[Name]

A.C. Moore Arts & Crafts, Inc.

130 A.C. Moore Drive

Berlin, NJ 08009

Dear [               ]:

The Company has decided to offer you a special, one-time, lump sum cash retention award (the “Award,” as further
defined below), subject to the terms and conditions of this Award letter. To accept this Award, please sign the
enclosed copies of this Award letter. If you do not sign this Award letter, this offer will be deemed null and void.

Definition of Award. On December 31, 2011 (the “Vesting Date”), you will be entitled to receive the amount equal
to 55% of your current base salary, less applicable tax and withholdings. Your current base salary is
$[              ].
Therefore, your Award amount is $[
             ], less applicable tax and withholdings.

Right to Receive Award. Your right to receive the Award is contingent on (i) your agreeing to the terms and
conditions of this Award letter, (ii) your remaining continuously employed on a full-time basis in your current
position, or a position at least equivalent to your current position in terms of level and as determined by the
Company, with the Company through and including the Vesting Date, (iii) your continuing to achieve a performance rating
of “meets expectations” or higher through and including the Vesting Date, and (iv) your continuous compliance with all
Company policies and procedures through and including the Vesting Date. If you satisfy these requirements, the Award
will be paid to you in a single lump sum cash payment on the first regular Company payroll date following the Vesting
Date. Your right to this Award is not contingent on corporate performance.

Death or Disability. Notwithstanding the second paragraph of this Award letter, if your employment with the
Company terminates on or before December 31, 2011 because you die or become permanently disabled, then the portion of
your Award that will vest as of the date of your death or termination for permanent disability (assuming you otherwise
satisfy the terms and conditions of this Award letter) shall equal the product of (x) your Award amount set forth above
multiplied by (y) the number of days from January 1, 2011 through the date of death or permanent disability divided by
365, less applicable tax and withholdings. The Board or the Compensation Committee of the Board will determine whether
a permanent disability exists for purposes of the foregoing, and such determination will be conclusive and binding. If
your death or permanent disability occurs, the defined term “Vesting Date” shall mean the date of your death or
permanent disability for the purposes of the terms and conditions of this Award letter.

Forfeiture. Subject to the provisions of the next paragraph below, if prior to the Vesting Date, (i) your
employment with the Company terminates for any reason, whether as a result of a Company decision or your decision, (ii)
your employment status with the Company changes to part-time, or (iii) you retire from the Company, then your right to
receive the Award will be forfeited immediately as of the date of your termination, change in status or retirement, as the case may be. Except upon your death or permanent
disability pursuant to the previous paragraph, nothing in this Award letter shall be construed as granting you any
right to receive a pro rata or other portion of the Award if the terms and conditions of this Award letter are not met.

 

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December 14, 2010

Change in Control. If you remain continuously employed on a full-time active basis with the Company through and
including the date on which a Change in Control of the Company occurs, then notwithstanding any provision in this Award
letter to the contrary, the Award shall automatically vest and be payable to you upon the effective date of the Change
in Control. For all purposes of this Award letter, “Change in Control” shall have the meaning set forth in the
Company’s 2007 Stock Incentive Plan, as amended.

Other terms and conditions are set forth below.

1. Taxes; Withholdings. On the Vesting Date, you will have taxable income equal to the amount of your
vested Award, and the Company will withhold the amount of taxes or withholdings required to be withheld or paid
pursuant to all withholdings obligations that the Company is required by law to make.

2. Interpretation. The terms and conditions of this Award letter and all actions taken hereunder will be
governed by the laws of the State of New Jersey, without regard to the conflict of law provisions of any jurisdiction.
Should any provision of this Award letter be determined to be unenforceable, the enforceability of all other provisions
shall not be affected.

4. Confidentiality. Prior to the Company’s public disclosure of this Award letter, you agree to keep the
terms and conditions of this Award letter, and the fact that you have been offered this Award, strictly confidential.
You may only disclose the information in this Award letter to your immediate family, attorney(s) or tax advisor(s),
unless ordered to do so by a duly authorized subpoena issued by an appropriate agency or court of law. Failure to
comply with this provision will be grounds to void the Award.

5. Miscellaneous.

(a) This Award letter is the entire agreement between you and the Company concerning the Award granted hereunder.
If you are a party to an employment letter or agreement with the Company, you agree that in the case of a conflict
between the employment letter or agreement and this Award letter relating to the terms and conditions of this Award,
the terms and conditions of this Award letter will control. Beyond this acknowledgment, nothing herein is meant to
create a contract for employment or modify the terms of an existing agreement that you may have entered into with the
Company.

(b) Nothing in this Award letter confers any right to continued employment with the Company, or affects the
Company’s right to terminate your employment pursuant to any existing agreement.

(c) The Company has no obligation to contribute any assets to a trust or other entity or otherwise to segregate
any assets, or maintain separate accounts for the purpose of satisfying the Award obligation hereunder.

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December 14, 2010

(d) For purposes of this Award letter, “Company” means A.C. Moore Arts & Crafts, Inc. or A.C. Moore Incorporated,
as appropriate, and any and all of their successors or assigns (which shall include without limitation a purchaser or
transferee of all the stock or substantially all the assets of the Company or any person who effects a Change in
Control or any affiliate of any of them.)

(e) This Award letter shall bind and inure to the benefit of and be enforceable by you, the Company and each’s
respective heirs, successors and assigns (which, with respect to the Company, shall include without limitation a
purchaser or transferee of all the stock or substantially all the assets of the Company or any person who effects a
Change in Control or any affiliate of any of them), except that you may not assign your rights or delegate your
obligations hereunder without the prior written consent of the Company.

Your signature below constitutes your agreement to the terms and conditions contained in this Award letter.

	 	 	 	 	 
	 
	 		Sincerely,
	 
	 	 	 	 	 
	 
	 	 	 	 	 
	 
	 	 	By:	 
	
 
	 	 
	 	 
	
 
	 	 	 	Name:    Joseph A. Jeffries
	
 
	 	 

	 	Title:   Chief Executive Officer

ACCEPTED:

 

[Name]

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