Document:

EX-10.3

Exhibit 10.3

GLOBAL CONSUMER ACQUISITION CORP.

1370 Avenue of the Americas, 28th Floor

New York, NY 10019

July 13, 2009

INDEMNIFICATION AND WAIVER LETTER

PERSONAL AND CONFIDENTIAL

JEFFERIES FINANCE LLC

520 Madison Avenue

New York, New York 10022

Attention: General Counsel — Investment Banking

Re:   Debt Financing

Ladies and Gentlemen:

     Reference
is made to that certain commitment letter, dated July 13, 2009, between Jefferies
Finance LLC (“Jefferies Finance” or “you”) and Hayground Cove Asset Management LLC (the “Sponsor”)
(including the exhibits, schedules and annexes thereto, the “Commitment Letter”), concerning the
financing of the proposed Transactions described therein. Except as otherwise defined herein,
capitalized terms used herein and defined in the Commitment Letter shall be used herein as therein
defined.

     In connection with the Transactions, and to induce Jefferies Finance to issue the Commitment
Letter to the Sponsor, and for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, we have agreed to issue this indemnity letter (this “Indemnity
Letter”) in favor of each indemnified person (as defined below). In that connection, we hereby
agree to indemnify and hold harmless Jefferies Finance, the Lenders and each of your and their
respective affiliates (including Jefferies & Company, Inc. (“Jefco”)) and subsidiaries and each of
the respective officers, directors, partners, trustees, employees, affiliates, shareholders,
advisors, agents, representatives, attorneys-in-fact and controlling persons of each of the
foregoing (each, an “indemnified person”) from and against any and all losses, claims, damages and
liabilities (“Losses”) to which any such indemnified person, directly or indirectly, may become
subject arising out of, relating to, resulting from or otherwise in connection with the Debt
Financing Letters, the Debt Financing, the use of the proceeds therefrom, the Transactions, any of
the other transactions contemplated by the Debt Financing Letters, or any action, claim, suit,
litigation, investigation, inquiry or proceeding (each, a “Claim”), directly or indirectly, arising
out of, relating to, or resulting from, or otherwise in connection with, any of the foregoing (IN
ALL CASES, WHETHER OR NOT CAUSED OR ARISING, IN WHOLE OR IN PART, OUT OF THE COMPARATIVE,
CONTRIBUTORY OR SOLE NEGLIGENCE OF THE INDEMNIFIED PERSON), regardless of whether any indemnified
person is a party thereto or whether such Claim is brought by us, any of our affiliates or a third
party, and, in addition, to reimburse each indemnified person

 

 

upon demand at any time and from time to time for all reasonable legal and other reasonable
expenses incurred by it in connection with investigating, preparing to defend or defending, or
providing evidence in or preparing to serve or serving as a witness with respect to, any Claim,
directly or indirectly, arising out of, relating to, resulting from or otherwise in connection with
any of the foregoing (including in connection with the enforcement of the indemnification
obligations and waivers set forth herein and/or in any Debt Financing Letter); provided, however,
that no indemnified person will be entitled to indemnity hereunder in respect of any Loss to the
extent that it is found by a final, non-appealable judgment of a court of competent jurisdiction
that such Loss resulted primarily and directly from the gross negligence, bad faith or willful
misconduct of such indemnified person. In addition, in no event will any indemnified person be
liable for consequential, special, exemplary, punitive or indirect damages (including any loss of
profits, business or anticipated savings), whether, directly or indirectly, as a result of any
failure to fund all or any portion of the Debt Financing or otherwise arising out of, relating to,
resulting from or otherwise in connection with the Debt Financing or arising out of, relating to,
resulting from or otherwise in connection with any Claim or otherwise. In addition, no indemnified
person will be liable for any damages arising from the use by unauthorized persons of Information
sent through electronic, telecommunications or other information transmission systems that are
intercepted or otherwise obtained by such persons.

     We hereby further agree that we shall not settle or compromise or consent to the entry of any
judgment in or otherwise seek to terminate any pending or threatened Claim in which any indemnified
person is or could be a party and as to which indemnification or contribution could have been
sought by such indemnified person hereunder whether or not such indemnified person is a party to
any Debt Financing Letter, unless (i) such indemnified person and each other indemnified persons
from which such indemnified person could have sought indemnification or contribution have given
their prior written consent or (ii) the settlement, compromise, consent or termination includes an
express unconditional release of all indemnified persons and their respective affiliates from all
Losses, directly or indirectly, arising out of, relating to, resulting from or otherwise in
connection with such Claim.

     If for any reason (other than the bad faith, gross negligence or willful misconduct of an
indemnified person as provided above) the foregoing indemnity is unavailable to an indemnified
person or insufficient to hold an indemnified person harmless, then we, to the fullest extent
permitted by law, agree to contribute to the amount paid or payable by such indemnified person as a
result of such Losses in such proportion as is appropriate to reflect the relative benefits
received by us, on the one hand, and by such indemnified person, on the other hand, from the
Transactions or, if allocation on that basis is not permitted under applicable law, in such
proportion as is appropriate to reflect not only the relative benefits received by us, on the one
hand, and such indemnified person, on the other hand, but also the relative fault of us, on the one
hand, and such indemnified person, on the other hand, as well as any relevant equitable
considerations. Notwithstanding the provisions hereof, we agree that the aggregate contribution of
all indemnified persons to all Losses shall not exceed the amount of fees actually received by
Jefferies Finance pursuant to the Fee Letter. For the purposes of this paragraph, it is hereby
further agreed that (x) the relative benefits to us, on the one hand, and you, on the other hand,
with respect to the Transactions shall be deemed to be in the same proportion as (i) the total
value paid or contemplated to be paid or received or contemplated to be received by the Borrower,
us, our or the Borrower’s equityholders and/or our or their respective affiliates, as the case may
be, in the Transactions, whether or not the Transactions are consummated, bears to (ii) the fees
actually paid to Jefferies Finance under the Fee Letter and (y) the relative fault of us, on the
one hand, and you, on the other hand, with respect to the Transactions shall be determined by
reference to, among other things, whether any untrue or alleged untrue statement of a material fact
or the omission or alleged omission to state a material fact relates to information supplied by us
or the Sponsor (and/or any of our or the Sponsor’s respective affiliates and/or any of our or the
Sponsor’s respective officers, directors, partners, trustees, employees, affiliates, shareholders,
advisors, agents, representatives, attorneys-in-fact and controlling persons) (collectively, the

 

 

“Acquiror Group”) or you and your and our relative intent, knowledge, access to information
and opportunity to correct or prevent such statement or omission.

     In addition, we agree to reimburse the indemnified persons for all expenses (including
reasonable fees and expenses of internal and external counsel), as incurred, in connection with
investigating, preparing, defending or settling any Claim for which indemnification or contribution
may be sought by the indemnified person, whether or not in connection with any action, claim
litigation, investigation or proceeding in which any indemnified person is a named party or whether
such Claim is brought by us, any of our affiliates or a third party.

     The indemnity, contribution and expense reimbursement obligations set forth herein (i) shall
be in addition to any liability we may have to any indemnified person at law, in equity or
otherwise, (ii) shall survive the expiration or termination of the Debt Financing Letters, (iii)
shall apply to any modification, amendment, waiver or supplement of our Commitment, (iv) shall
remain operative and in full force and effect regardless of any investigation made by or on behalf
of you or any other indemnified person, (v) shall be binding on any successor or permitted assign
of ours and the successors or permitted assigns to any substantial portion of our business and
assets and (vi) shall be superseded by the provisions in the Credit Agreement and the other Credit
Documents (including the GCAC Guaranty and Cash Collateral Agreement) upon execution, delivery and
effectiveness of the Credit Agreement and each of the other Credit Documents (including the GCAC
Guaranty and Cash Collateral Agreement).

     You hereby acknowledge that the aggregate gross proceeds from our initial public offering
(“IPO”), including the proceeds received by us upon the consummation of the exercise of the
over-allotment option, the proceeds received by us from a private placement that closed
simultaneously with the first closing of the IPO and any accrued interest not released to us in
accordance with the terms of the IPO, was placed in a trust account (the “Trust Account”) for the
benefit of our public stockholders. You further hereby acknowledge and agree that you do not have
any right, title, interest or claim of any kind in or to any monies in the Trust Account (for so
long as same are held therein) established by us and hereby agree that you will not seek recourse
against the Trust Account for any reason whatsoever.

     This Indemnity Letter may be executed in any number of counterparts, each of which shall be an
original and all of which, when taken together, shall constitute one agreement. Delivery of an
executed signature page of this Indemnity Letter by facsimile transmission shall be effective as
delivery of a manually executed counterpart hereof. This Indemnity Letter shall be governed by,
and construed in accordance with, the internal laws of the State of New York without regard to
conflicts of laws principles. This Indemnity Letter sets forth the entire agreement between the
parties hereto as to the matters set forth herein and supersedes all prior communications, written
or oral, with respect to the matters herein.

     EACH OF THE PARTIES HERETO HEREBY WAIVES ANY RIGHT TO TRIAL BY JURY WITH RESPECT TO ANY CLAIM,
ACTION, SUIT OR PROCEEDING ARISING OUT OF OR CONTEMPLATED BY THIS INDEMNITY LETTER. WE HEREBY
SUBMIT TO THE NON-EXCLUSIVE JURISDICTION OF THE FEDERAL AND NEW YORK STATE COURTS LOCATED IN THE
COUNTY OF NEW YORK IN CONNECTION WITH ANY DISPUTE RELATED TO THIS INDEMNITY LETTER OR ANY MATTERS
CONTEMPLATED HEREBY.

     We agree that this Indemnity Letter (and our obligations hereunder) shall not be assignable by
us to any person or entity without the prior written consent of Jefferies Finance (and any
purported assignment without such consent shall be null and void). This Indemnity Letter may not
be amended or waived except by an instrument in writing signed by us and Jefferies Finance.

[Remainder of page intentionally blank]

 

 

	 	 	 	 	 
	 	Very truly yours,

GLOBAL CONSUMER ACQUISITION CORP.

 	 
	 	By:  	/s/ Jason N. Ader
 	 
	 	 	Name:  	Jason N. Ader 	 
	 	 	Title:  	Chief Executive Officer 	 
	 

 

 

Accepted and agreed to as of the

date first above written:

JEFFERIES FINANCE LLC

	 	 	 	 	 
	By:

	 	/s/ E.J. Hess
 

Name: E.J. Hess
	 	 
	 

	 	Title: Managing DirectorExhibit 10(qqq)

Exhibit 10(qqq)

EMPLOYMENT AGREEMENT

EMPLOYMENT AGREEMENT entered into as of July 1, 2009 by and between MISONIX, INC., a New York corporation, with
principal offices at 1938 New Highway, Farmingdale, New York 11735 (“Employer”), and MICHAEL A. McMANUS, JR., with his
address at 100 White Plains Road, Bronxville, New York 10708 (“Executive”).

	A.	 	Employer is engaged in the business of developing, manufacturing and/or marketing medical, scientific, and
industrial air pollution systems (“Employer’s Business”);

	B.	 	Employer and Executive have previously entered into that certain Amended and Restated Employment Agreement, dated
as of June 27, 2008, which Employment Agreement expired on June 30, 2009; and

	C.	 	Employer and Executive desire to enter into a new employment agreement as follows:

	1.	 	Employment

	 	(a)	 	During the Term of Employment as defined in Section 2, Employer agrees to employ Executive as an executive,
subject to the overall direction and control of the Board of Directors of Employer (the “Board”). Executive
agrees to act in the foregoing capacity, in accordance with the terms and conditions contained in this
Agreement. Executive will have, at all times during the term of this Agreement, the title of President and
Chief Executive Officer.

	 	(b)	 	Executive shall devote substantially all of his working time to Employer’s Business as conducted from time to
time. It is agreed that Executive’s service on the board of directors of the other companies described on the
attached list is acceptable. Executive shall render services, without additional compensation, in connection
with the operation of Employer’s Business, including activities of affiliates and subsidiaries of Employer as
may exist from time to time. Executive also agrees to serve as a member of the Board of Directors of Employer
(the “Board”), if elected, and/or any subsidiaries or affiliates, without additional compensation therefor.

	2.	 	Term

	 	 	The term of Executive’s employment under this Agreement shall commence on the date hereof (the “Commencement
Date”) and end on June 30, 2010 (the “Initial Term”). Thereafter, this Agreement shall be automatically renewed
and extended for consecutive one year renewal terms, unless either party sends to the other party a notice of
non-renewal at least ninety (90) days prior to the expiration of the Initial Term or any then-current renewal
term (each, a “Renewal Term”). The Initial Term and each Renewal Term are subject to earlier termination as set
forth in Section 5. The actual term of employment is defined as the “Term of Employment.”

 

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	3.	 	Compensation

	 	(a)	 	Employer shall pay to Executive an annual base salary of Two Hundred Seventy-Five Thousand and 00/100
($275,000.00) Dollars (the “Annual Base Salary”) per annum during the Term of Employment. All payments shall be
made in equal monthly installments, in arrears, or such other installments as may be consistent with the payroll
practices of Employer for its executives.

	 	(b)	 	In addition to the compensation set forth in Section 3(a), Executive shall receive an annual bonus based on
Executive’s achievement of his annual goals and objectives as determined by the Compensation Committee of the
Board of Directors (the “Compensation Committee”). The Compensation Committee shall determine the annual goals
and objectives no later than the date on which the Board approves Employer’s annual budget. Any payments to be
made under this Section 3(b) shall be paid within 90 days of the end of the fiscal year for which such incentive
bonus relates.

	4.	 	Additional Executive Benefits

	 	(a)	 	Employer shall reimburse Executive for all expenses reasonably incurred by Executive in connection with the
performance of Executive’s duties under this Agreement against Executive’s pre-submitted documented vouchers for
such expenses. Executive shall be entitled to the use of an automobile, at the Company’s expense.

	 	(b)	 	Executive shall be entitled to five (5) weeks of vacation each year (no more than three (3) of which shall be in
the same six month period) and all other general medical and executive benefit plans (including profit sharing or
pension plans) as shall have been established and are continuing for executives of Employer; to the extent
possible, Executive shall be immediately qualified for such benefits.

	5.	 	Termination

	 	(a)	 	Employer may terminate this Agreement for cause.

	 	(b)	 	“Cause” within the meaning of this Agreement shall mean:

	 	i.	 	Executive’s breach of the provisions of Section 6 hereof.

	 	ii.	 	Failure by Executive to comply in any material respect with the terms of this
Agreement, if any, or any written policies or directives of the Board as determined by the Board in
good faith in its sole discretion, which has not been corrected by Executive within ten (10) days
after written notice from Employer of such failure.

	 	iii.	 	Physical incapacity or disability of Executive to perform the services required to be
performed under this Agreement. For purposes of this Section 5(b) iii., Executive’s incapacity or disability to perform such services for any cumulative period of one
hundred twenty (120) days during any twelve-month period, or for any consecutive period of
ninety (90) days, shall be deemed “cause” hereunder.

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	 	iv.	 	Executive is convicted of, pleads guilty to, confesses to any felony or any act of
fraud, misappropriation or embezzlement.

	 	v.	 	Executive engages in a fraudulent act or dishonest act to the damage or prejudice of
Employer and its affiliates or in conduct or activities damaging to the property, business or
reputation of Employer and its affiliates, all as determined by the Board in good faith in its sole
discretion.

	 	(c)	 	If Employer notifies Executive of its election to terminate this Agreement for cause, this termination shall
become effective at the time notice is deemed to have been given in accordance with Section 9 hereof and all
payments earned and due Executive shall be paid in full at that time.

	 	(d)	 	This Agreement shall automatically terminate upon the death of Executive.

	 	(e)	 	Executive may terminate his employment with Employer for “Good Reason” after giving Employer five (5)
business days notice and the opportunity to cure. Termination by Executive of his employment for “Good Reason”
shall mean termination based upon (i) a significant diminution in Executive’s material duties and
responsibilities without Executive’s express written consent; (ii) a significant reduction by Employer in
Executive’s Annual Base Salary; or (iii) a Change of Control (as hereinafter defined). If Executive terminates
his employment for Good Reason with Employer, Employer shall pay Executive an amount equal to two (2) times
Executive’s total compensation (Annual Base Salary plus bonus) at the highest rate paid during the period of
Executive’s employment, payable in a lump sum within sixty (60) days of Executive’s termination of employment.
Notwithstanding the foregoing, Employer shall only be obligated to make the payments set forth in this clause
(e) after Executive delivers to Employer an executed Release and Severance Agreement, which shall be
substantially in the form of Employer’s standard Release and Severance Agreement for all employees, with such
changes therein or additions thereto as needed under then applicable law to give effect to its intent and
purpose; and after delivery to Employer of a resignation from all offices, directorships and fiduciary positions
with Employer, its affiliates and employee benefit plans.

	6.	 	Non-Competition and Non-Disclosure

	 	(a)	 	Notwithstanding any other provisions in this Agreement, nothing in this Agreement shall prohibit Executive
from acquiring or owning without disclosure to Employer less than 1% of the outstanding securities of any class
of any competing corporation that are listed on a national securities exchange or traded in the over-the-counter
market.

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	 	(b)	 	During and after the Term of Employment and for a period of eighteen (18) months thereafter, Executive
covenants and agrees that Executive shall keep strictly confidential all non-public proprietary information
which Executive may obtain during the course of Executive’s employment with respect to the business practices,
finances, developments, marketing, sales, customers, affairs, trade secrets and other confidential information
of Employer which shall remain Employer’s exclusive property and Executive shall not disclose the same, except
solely in the course of business on behalf of and for the benefit of Employer pursuant to this Agreement, except
to the extent that the same is then: (i) publicly available without any act of Executive through a party not
violating its obligations to Employer; or (ii) required to be disclosed under the laws of the United States or
any state in any judicial or administrative proceeding. Executive further agrees that immediately upon the
termination of his employment (irrespective of the time, manner or cause of termination), Executive will
surrender and deliver to Employer all (1) lists, books, records, memoranda and data, computer discs, computer
access codes, magnetic media, software, of every kind relating to or in connection with Employer’s Business and
customers and suppliers of Employer, and (2) all of Employer’s personal and physical property.

	 	(c)	 	During the Term of Employment and for a period of eighteen (18) months thereafter, Executive covenants and
agrees that Executive shall not compete, directly or indirectly, with Employer in Employer’s Business.

	 	(d)	 	During the Term of Employment and for a period of eighteen (18) months thereafter, Executive covenants and
agrees that Executive shall not, alone or with others, directly or indirectly:

	 	i.	 	solicit for Executive’s benefit or the benefit of any person or organization other
than Employer, the employment or other services of any executive or consultant of Employer; or

	 	ii.	 	solicit for Executive’s benefit or the benefit of any person or organization other
than Employer, the employment of any executive of any customer of Employer, to compete in an area of
Employer’s Business.

	7.	 	Representation and Indemnification

Executive hereby represents and warrants that he is not a party to any agreement, whether oral or written, which
would prohibit him from being employed by Employer, and Executive further agrees to indemnify and hold Employer, its
directors, officers, shareholders and agents, harmless from and against any and all losses, cost or expense of every
kind, nature and description (including, without limitation, whether or not suit be brought, all reasonable costs,
expenses and fees of legal counsel), based upon, arising out of or otherwise in respect of any breach of such
representation and warranty.

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	8.	 	Resolution of Disputes

All disputes arising hereunder shall be finally determined by arbitration in the City and State of New York in
accordance with the rules of the American Arbitration Association then obtaining, or any successor organization
thereto. Such arbitration shall be conducted by a three person panel, one of whom is selected by each party and the
third selected by the two arbitrators or, if the arbitrators cannot agree, selected from the lists of the American
Arbitration Association. The arbitrators shall not have the power to abrogate, alter, modify or amend any of the
provisions of this Agreement. Any award entered by the arbitrators shall be final and judgment thereon may be entered
in any court having jurisdiction. Each party shall bear its own costs in connection with such arbitration.
Notwithstanding the foregoing, Employer shall have the right to seek injunctive relief to maintain the status
quo and/or to prevent violation of the terms thereof pending final determination of the rights and remedies of
the parties in an arbitration proceeding.

	9.	 	Notices

All notices shall be in writing and shall be delivered personally (including by courier), sent by facsimile
transmission (with appropriate documented receipt thereof), by overnight receipted courier service (such as UPS or
Federal Express) or sent by certified, registered or express mail, postage prepaid, to the parties at their address set
forth at the beginning of this Agreement with Employer’s copy being sent to Employer at its then principal office. Any
such notice shall be deemed given when so delivered personally, or if sent by facsimile transmission, when transmitted,
or, if mailed, forty-eight (48) hours after the date of deposit in the mail. Any party may, by notice given in
accordance with this Section to the other party, designate another address or person for receipt of notices hereunder.
Copies of any notices to be given to Employer shall be given simultaneously to: Siller Wilk LLP, 675 Third Avenue, New
York, New York 10017, Attention: Joel I. Frank, Esq.

	10.	 	Change of Control

	 	(a)	 	After a Change in Control of Employer (as defined in subparagraphs (b) and (c) hereafter), Executive shall be
entitled to a one-time additional compensation in an amount equal to two (2) times Executive’s total compensation
(Annual Base Salary plus bonus) at the highest rate paid during the period of Executive’s employment. Such
additional compensation will be paid to Executive in a lump sum within sixty (60) days after the date such Change
in Control takes effect and Executive’s employment by Employer ceases pursuant to Section 5(e)(iii).
Notwithstanding the foregoing, Employer shall only be obligated to make the payments set forth in this clause (a)
after Executive delivers to Employer an executed Release and Severance Agreement, which shall be substantially in
the form of Employer’s standard Release and Severance Agreement for all employees, with such changes therein or
additions thereto as needed under then applicable law to give effect to its intent and purpose; and after delivery
to Employer of a resignation from all offices, directorships and fiduciary positions with Employer, its affiliates
and employee benefit plans.

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	 	(b)	 	A “Change in Control” shall be deemed to have occurred in the event (i) any person (as such term is used in
Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), or group of
such “persons”, without the consent of the Board, is or becomes a “beneficial owner” (as defined in Rule 13d-3 of
the Exchange Act), directly or indirectly, of securities of Employer representing fifty percent (50%) or more of
the combined voting power of Employer’s then outstanding securities, or (ii) of a merger, consolidation or other
combination the result of which is the ownership by shareholders of Employer of less than sixty percent (60%) of
those voting securities of the resulting or acquiring entity having the power to elect a majority of the Board of
Directors of such entity.

	 	(c)	 	Notwithstanding anything in this Agreement to the contrary, no Change of Control shall be deemed to have occurred
for purposes of this Agreement requiring payment to Executive of the compensation referred to in subparagraph (a)
above by virtue of (i) any transaction which results in the Executive or a group of persons which includes the
Executive, acquiring, directly or indirectly, fifty percent (50%) or more of any class of voting securities of
Employer, or (ii) if Executive continues in the employ of Employer more than nine (9) months following the
occurrence of an event which would otherwise constitute a Change of Control.

	 	(d)	 	Notwithstanding anything in the foregoing to the contrary, in the event of a Change of Control, Executive shall,
for so long as he continues to be employed by Employer hereunder, (i) have the title of President and Chief
Executive Officer and (ii) be paid the Annual Base Salary provided for in Section 3(a) above.

	11.	 	Miscellaneous

	 	(a)	 	This Agreement shall be governed in all respects, including validity, construction, interpretation and
effect, by New York law (without regard to the choice of law principles thereof).

	 	(b)	 	This Agreement may be amended, superseded, canceled, renewed or extended, and the terms hereof may be waived,
only by a written instrument signed by an authorized representative of Employer and by Executive or, in the case
of a waiver, by an authorized representative of Employer or by Executive, as the case may be. No such written
instrument shall be effective unless it expressly recites that it is intended to amend, supersede, cancel, renew
or extend this Agreement or to waive compliance with one or more of the terms hereof, as the case may be. No
delay on the part of any party in exercising any right, power or privilege hereunder shall operate as a waiver
thereof, nor shall any waiver on the part of any party of any such right, power or privilege, or any single or
partial exercise of any such right, power or privilege, preclude any further exercise thereof or the exercise of
any other such right, power or privilege. The rights and remedies herein provided are cumulative and are not
exclusive of any rights or remedies that any party may otherwise have at law or in equity.

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	 	(c)	 	If any provision or any portion of any provision of this Agreement or the application of any such provision
or any portion thereof to any person or circumstance, shall be held invalid or unenforceable, the remaining
portion of such provision and the remaining provisions of this Agreement, or the application of such provision
or portion of such provision as is held invalid or unenforceable to persons or circumstances other than those as
to which it is held invalid or unenforceable, shall not be affected thereby and such provision or portion of any
provision as shall have been held invalid or unenforceable shall be deemed limited or modified to the extent
necessary to make it valid and enforceable; in no event shall this Agreement be rendered void or unenforceable.

	 	(d)	 	The headings to the Sections of this Agreement are for convenience of reference only and shall not be given
any effect in the construction or enforcement of this Agreement.

	 	(e)	 	This Agreement shall inure to the benefit of and be binding upon the successors and assigns of Employer, but
no interest in this Agreement shall be transferable in any manner by Executive.

	 	(f)	 	This Agreement constitutes the entire agreement and understanding between the parties and supersedes all
prior discussions, agreements and undertakings, written or oral, of any and every nature with respect thereto,
including, without limitation, the Original Agreement.

	 	(g)	 	This Agreement may be executed by the parties hereto in separate counterparts which together shall constitute
one and the same instrument.

	 	(h)	 	In the event of the termination or expiration of this Agreement, the provisions of Sections 6 hereof shall
remain in full force and effect, in accordance with its terms.

IN WITNESS WHEREOF, this Agreement has been executed as of the date stated at the beginning of this Agreement.

MISONIX, INC.

By:     /s/ Richard Zaremba

          Name: Richard Zaremba

          Title: Senior Vice President

                    and Chief Financial Officer

        /s/ Michael A. McManus 

          Michael A. McManus, Jr.

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SCHEDULE A

BOARD COMMITMENTS

A. Schulman Inc.

Novovax, Inc.

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