Document:

Employment Agreement

 Exhibit 10.1 

EMPLOYMENT AGREEMENT 

THIS AGREEMENT (this “Agreement”) is made as of May 10, 2010 (“Effective Date”), between Flotek Industries,
Inc., a Delaware corporation (the “Company”), and Steve Reeves (“Employee”). 
 In consideration of the
mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

1. Employment. The Company shall employ and continue to employ Employee, and Employee shall be employed and continue to be
employed with the Company, upon the terms and conditions set forth in this Agreement for the period beginning on the date hereof and ending on the Termination Date, as defined in Section 4 hereof (the “Employment Period”). 

2. Position and Duties. 

(a) Employee shall initially serve as an Executive Vice President, Operations, Business Development and Special Projects of the Company
and shall be responsible for such duties as are normally performed by an Executive Vice President, Operations, Business Development and Special Projects in companies similarly situated with the Company, and such other duties, consistent with the
duties customarily performed by an Executive Vice President, Operations, Business Development and Special Projects as may be reasonably prescribed by the Board of Directors of the Company or the President or Chief Executive Officer of the Company.

 (b) Employee shall devote his reasonable best efforts and his full business time and attention (except for permitted vacation
periods, periods of illness or other incapacity) to the business and affairs of the Company. 
 3. Base Salary and
Benefits. 
 (a) Employee’s annual base salary for the Employment Period shall be $275,000 (the “Base
Salary”). The Base Salary shall be payable in approximately equal installments in accordance with the Company’s general payroll practices and shall be subject to required withholding. Any change in Base Salary shall be in the sole
discretion of the Board of Directors of the Company. During the Employment Period, Employee shall be entitled to participate in all of the Company’s employee benefit programs for which employees of the Company are generally eligible, at a level
commensurate with Employee’s position in the Company. 
 (b) Employee shall be issued 150,000 shares of the common stock of
the Company (the “Shares”) pursuant to the 2005 Long-Term Incentive Plan of the Company (the “2005 Plan”), the 2007 Long-Term Incentive of the Company (the “2007 Plan”), and/or the 2010 long-term incentive plan which
the Company intends to adopt effective as of the 2010 annual general stockholders meeting of the Company (the “2010 Plan”; the 2005 Plan, the 2007 Plan, and the 2010 Plan are sometimes referred to herein collectively as the
“Plans”), with such grant conditioned upon shareholder approval of the 2010 Plan if the number of shares of common 

 
stock of the Company available for awards under the 2005 Plan and the 2007 Plan are not sufficient to provide for the issuance of Shares pursuant to this sentence. The award of the Shares shall
be subject to the standard terms of a restricted stock grant under the applicable Plan; provided, however, that the terms of such award shall provide that the shares will subject to a four year level vesting requirement and shall vest immediately
upon Employee’s death, resignation for Good Reason, Employee’s termination without Cause or a “change of control” of the Company as defined in the applicable Plan. If the number of shares of common stock of the Company available
for awards under the 2005 Plan and the 2007 Plan are not sufficient to provide for the issuance of the Shares pursuant to the first sentence of this Section 3(b), and shareholder approval of the 2010 Plan does not occur on or before
December 31, 2010, and as a result the Shares have not been awarded by such date, then Employee shall be entitled to demand a bonus in the amount of $250,000 (the “Bonus”). Such demand must be made in writing to the Company after
December 31, 2010 and prior to the latest to occur of the date of shareholder approval of the 2010 Plan or December 31, 2010. If Employee demands the Bonus, the Bonus will be made as described in this Section 3(b), and Employee shall
not be entitled to the Shares as described in this Section 3(b) if such Bonus is paid and, in such event, such Shares will be cancelled and be of no further force or effect upon the payment of the Bonus. Once shareholder approval of the 2010
Plan is received, Employee rights to any unpaid Bonus will be cancelled and be of no further force or effect. In addition, if Employee’s employment with the Company is terminated on account of the resignation by Employee for Good Reason or by
the Company for any reason other than for Cause prior to the payment of the Bonus and approval of the 2010 Plan, such termination will not impact the conditional grant of the Shares or the right to the Bonus described in this Section 3(b). For
clarity, if Employee’s employment with the Company is terminated by the Company for Cause or by virtue of the resignation by Employee (except for Good Reason) prior to the payment of the Bonus and approval of the 2010 Plan, all rights to any
Shares and the bonus described in this Section 3(b) shall terminate. 
 (c) Employee shall be entitled to annual bonuses in
accordance with the Management Incentive Plan of the Company, with a “Target Bonus” for purposes of such plan of 50% of Base Salary (a “Target Bonus”) for year 2010. 

(d) The Company shall reimburse Employee for all reasonable expenses incurred by him in the course of performing his duties under this
Agreement which are consistent with the Company’s policies in effect from time to time for its employees with respect to travel, entertainment and other business expenses, subject to the Company’s requirements for its employees with
respect to reporting and documentation of such expenses pursuant to applicable Treasury Regulations. 
 (e) In addition to the
Base Salary, Employee will be eligible to receive raises, bonuses and incentive compensation to the extent approved from time to time by the Board of Directors of the Company, in its discretion. 

(f) Employee shall be eligible for vacations as permitted under Company’s policies in effect from time to time, with a minimum of
four weeks vacation during each year in the Employment Period. 
  

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 4. Term and Termination. 

(a) The Employment Period shall continue until terminated upon the earlier of (i) May 31, 2012 (the “Expiration
Date”), (ii) Employee’s resignation with or without Good Reason or Employee’s death or Disability or (iii) the termination of the Employment Period by the Company with or without Cause. The date on which Employee’s
employment with the Company terminates is referred to herein as the “Termination Date.” 
 (b) Employee’s
employment with the Company will be “at will,” meaning that either Employee or the Company may terminate Employee’s employment at any time and for any reason, with or without Cause or Good Reason. Any contrary representations
that may have been made to Employee are superseded by this Agreement. However, depending on the reason for such termination, Employee may be eligible for a severance package on the terms and conditions set forth below. 

(c) Except as provided in Section 4(c), any restricted stock and stock options held by Employee under the 2007 Long Term Incentive
Plan of the Company will be governed by the terms of the 2007 LTIP and other governing documents as of the Effective Date. Notwithstanding the above, in the event the Employment Period terminates on account of the death of Employee, the Company
shall cause all restricted stock and stock options in effect on the Effective Date to vest and be exercisable. 
 5.
Severance. In no way limiting the Company’s policy of employment at will: 
 (a) If Employee’s employment with
the Company is terminated by the Company without Cause or by Employee with Good Reason prior to the Expiration Date, and provided that all of the following have occurred within 60 days following the termination of Employee’s employment with the
Company: (i) Employee first signs and delivers to the Company a Confidential Severance and Release Agreement in substantially the same form as that attached hereto as Exhibit B (the “Release Agreement”), (ii) any revocation right
of the Employee under such Release Agreement shall have expired, and (iii) such Release Agreement shall have become effective (the date that all of the conditions set forth in (i), (ii) and (iii) above are met to be referred to as the
“Release Date”), Employee shall be entitled to receive: 
  

	 	(i)	Severance compensation equal to two-thirds of the sum of his annual Base Salary and Target Bonus in effect for the year in which the Termination Date occurs, payable in
8 monthly installments equal to one-eighth of such severance compensation, subject to required withholding, payable at the end of each of the next eight full calendar months following the first full calendar month following the Release Date;

  

	 	(ii)	Coverage at Company expense under the employee health insurance plan of the Company for period of eight months following the Release Date, or, if less, the maximum time
period permitted under COBRA. 

 (b) Notwithstanding anything to the contrary herein contained, Company shall not
be required to pay any amounts under this Section 5 or elsewhere in this Agreement if Employee is 
  

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in breach of any of its obligations under this Agreement or any other Agreement with the Company, including without limitation, any obligation relating to the treatment of Company confidential
information and any non-compete obligation. 
 (c) If Employee’s employment with the Company is terminated for Cause or
death or Disability, or Employee resigns without Good Reason, Employee shall be entitled to receive only: (i) Employee’s Base Salary earned and payable through the Termination Date; (ii) any accrued but unused vacation/time off to the
extent required under applicable law; (iii) reimbursement for all incurred but unreimbursed expenses to the extent Employee is entitled to be reimbursed; and (iv) any other earned but unpaid compensation, if applicable, as of the
Termination Date. 
 (d) For purposes of this Agreement, the following terms shall have the meanings set forth below:

 “Cause” shall mean (i) Employee’s continued failure to substantially perform one or more
of Employee’s essential duties and obligations to the Company (other than any such failure resulting from a Disability) which, to the extent such failure is remediable, Employee fails to remedy in a reasonable period of time (not to exceed 30
days) after receipt of written notice from the Company; (ii) Employee’s refusal or failure to comply with the reasonable and legal directives of the Board of Directors after written notice from the Board describing Employee’s failure
to comply and, if such failure is remediable, Employee’s failure to remedy same within 10 days of receiving written notice; (iii) any act of personal dishonesty, fraud or misrepresentation taken by Employee which was intended to result in
substantial gain or personal enrichment of the Employee at the expense of the Company; (iv) Employee’s violation of a federal or state law or regulation applicable to the Company’s business which violation was or is reasonably likely
to be materially injurious to the Company; (v) Employee’s conviction of, or plea of nolo contendere or guilty to, a felony under the laws of the United States or any State that is reasonably likely to reasonably likely to be materially
injurious to the Company; (vi) Employee’s abuse of drugs, other narcotics or alcohol during working hours or where such abuse (whenever occurring) impacts on Employee’s working day, (vii) Employee’s breach of any of his
material obligations under any written agreement with the Company (including without limitation this Agreement and any proprietary information and inventions assignment agreement with the Company); or (viii) Employee’s violation of a
material policy of the Company which, to the extent such failure is remediable, Employee fails to remedy in a reasonable period of time (not to exceed 30 days) after receipt of written notice from the Company. 

“Disability” shall have the meaning assigned to such term in Section 22(e)(3) of the Internal Revenue Code
of 1986, as amended (the “Code”). 
 “Good Reason” shall exist upon the occurrence of one of
the following Company actions (unless Employee consents in writing to such action(s)): (i) a material reduction of the Employee’s salary and employee benefits to which the Employee was entitled immediately prior to such reduction,
(ii) a material reduction in the duties, authority or 
  

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responsibilities relative to the Employee’s duties, authority or responsibilities as in effect immediately prior to such reduction, provided, however, that if the Company assigns to the
Employee duties for another senior executive position with the Company shall not constitute Good Reason; or (iii) the relocation of the Employee to a facility or a location more than fifty (50) miles from the Employee’s then
present location; provided, however, that (A) Employee must provide the Company with written notice of the occurrence of such action(s) within 60 days of the initial occurrence of such action(s) and of his or her intent to terminate
employment based on such action(s) and (B) the Company will have 30 days from the date that such written notice is provided by Employee to cure such action(s). 

(e) Notwithstanding anything herein to the contrary, (i) if at the time of Employee’s termination of employment with the
Company, Employee is a “specified employee” within the meaning of Section 409A of the Code, and the deferral of the commencement of any payments or benefits (or portions thereof) otherwise payable hereunder as a result of such
termination of employment is necessary in order to prevent any accelerated or additional tax under Section 409A of the Code, then the Company will defer the payment of any such payments or benefits (or portions thereof) hereunder (without any
reduction in such payments or benefits ultimately paid or provided to Employee) until the date that is six months following Employee’s termination of employment with the Company (or the earliest date as is permitted under Section 409A of
the Code) to the extent and amount necessary to comply with Section 409A of the Code, with such delayed payments to be made in lump sum on the first day of the seventh month following the end of such six month period, and (ii) if any other
payments of money or other benefits due to Employee hereunder could cause the application of an accelerated or additional tax under Section 409A of the Code, such payments or other benefits shall be deferred if deferral will make such payment
or other benefits compliant under Section 409A of the Code, or otherwise such payment or other benefits shall be restructured, to the extent possible, in a manner, determined by the Board, that does not cause such an accelerated or additional
tax. The Company shall consult with Employee in good faith regarding the application of this Section 5(e). Notwithstanding any other provision in the Agreement, the Company and Employee will cooperate in good faith to amend or modify the
Agreement so that the payments under this Agreement qualify for exemption from or comply with Code Section 409A; provided, however, that the Company makes no representations that the payments under the Agreement shall be exempt from or comply
with Code Section 409A and makes no undertaking to preclude Code Section 409A from applying to payments under the Agreement. For purposes of this Section 5, a termination of employment only occurs if it constitutes a “separation
from service” under Section 409A of the Code and the regulations promulgated thereunder. With respect to the payments indentified in Section 5(a)(i)-(iii), each payment, including each separate installment payment identified
thereunder, will be considered the right to a series of separate payments. 
 6. Confidential Information. 

(a) Company Information. The Company agrees, in consideration for Employee’s agreement to the various terms of this
Agreement, to provide Employee with Confidential Information (as defined below) belonging to the Company. Employee agrees at all times, during the term of employment and thereafter, to hold in strictest confidence, and not to use, except for the
benefit of the Company or in connection with Employee’s responsibilities under his 
  

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employment, or to disclose to any person, firm, corporation or other entity without written authorization of an officer of the Company any Confidential Information of the Company. Employee
further agrees not to make copies of such Confidential Information except as authorized in writing by the Company or required for the performance of Employee’s responsibilities under his employment. Any such copies made pursuant to the
preceding sentence shall be available to, and shall remain the sole property of, the Company at all times. Employee understands that “Confidential Information” means any Company proprietary information, technical data, trade secrets or
know-how, including, but not limited to, (i) information derived from reports, investigations, experiments, research and work in progress, (ii) methods of operation, (iii) market data, (iv) technology, hardware, proprietary
computer programs and code (in object code and source code format), (v) drawings, designs, plans and proposals, (vi) marketing and sales programs, (vii) customer, licensee and supplier lists and any other information about the
Company’s relationships with others, (viii) historical financial information and financial projections, (ix) network and system architecture, (x) all other formulae, patterns, devices or compilations, concepts, ideas, materials
and information prepared or performed for or by the Company, (xi) all information related to the business plan, business, products, purchases or sales of the Company or any of its suppliers and customers, (xii) software or applications of
software, developments, inventions, models, samples, flowcharts, statistical data and compilations, (xiii) computer programs, disks, diskettes, tapes, and (xiv) all other proprietary information disclosed to Employee by the Company either
directly or indirectly in writing, orally or by drawings or observation, or created by Employee during the period of his employment, using Company time and/or materials or equipment. Employee understands that Confidential Information includes, but
is not limited to, information pertaining to any aspects of the Company’s business which is either information not known by actual or potential competitors of the Company, or proprietary information of the Company or its customers or suppliers
or other third parties with which it has business relationships, whether of a technical or financial nature, or otherwise. Employee further understands that Confidential Information does not include any of the foregoing items which are publicly
available or which become publicly known and made generally available through no wrongful act of Employee or of others who were under confidentiality obligations as to the item or items involved. 

(b) Former Employer Information. Employee represents and warrants that Employee’s performance of this Agreement has
not breached, and will not breach, any agreement or trust relationship between himself and any former, concurrent, or subsequent employer or other third party (collectively, “Other Party”), including, without limitation, any agreement with
respect to such Other Party’s inventions, unpublished documents or confidential or proprietary information. Employee agrees that Employee will not disclose to the Company, bring on the Company’s premises, or induce the Company to use any
Other Party’s inventions, unpublished documents or confidential or proprietary information without such Other Party’s prior written consent, a copy of which Employee also shall provide to the Company. 

(c) Third Party Information. Employee recognizes that the Company has received and in the future will receive from third parties
their confidential or proprietary information subject to a duty on the Company’s part to maintain the confidentiality of such information and to use it only for certain limited purposes. Employee agrees to hold all such confidential or
proprietary information in the strictest confidence and not to disclose it to any person, firm or corporation or to use it except as necessary in carrying out Employee’s work for the Company consistent with the terms of this Agreement.

  

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 7. Inventions. 

(a) Inventions Retained and Licensed. Employee has attached hereto, as Exhibit A, a list describing all ideas,
discoveries, inventions, original works of authorship, developments, designs, work products, innovations, concepts, know-how and trade secrets which were made by Employee prior to Employee’s employment with the Company (collectively referred to
as “Prior Inventions”), which belong to Employee, which relate to the Company’s current or proposed business, products or research and development, whether or not specifically within Employee’s duties or responsibilities with the
Company, whether or not patentable or registrable under copyright or similar laws and whether or not reduced to writing, and which are not assigned to the Company hereunder; or, if no such list is attached, Employee represents that there are no such
Prior Inventions. If, in the course of Employee’s employment with the Company, Employee incorporates into a Company product, process, program, software or machine a Prior Invention owned by Employee or in which Employee has an interest, the
Company is hereby granted and shall have a nonexclusive, royalty-free, transferable, irrevocable, perpetual, worldwide license to make, have made, modify, use, reproduce, distribute, create derivative works from, publicly perform, publicly display
and sell such Prior Invention as part of, or in connection with such product, process, program, software, work or machine. Employee agrees that Employee will not, without the prior approval of the Company, incorporate in any Company product,
process, program, software, work or machine any photographs, video or film, music, computer programs or other materials obtained from a third party (via the Internet or otherwise) for which the Company has not been granted an express license for
such incorporation. 
 (b) Assignment of Inventions. Employee agrees that Employee will promptly make full written
disclosure to the Company of any and all ideas, discoveries, inventions, original works of authorship, developments, designs, work products, innovations, concepts, know-how, and trade secrets which relate to the Company’s current or proposed
business, products or research and development, whether or not specifically within Employee’s duties or responsibilities with the Company and whether or not patentable or registrable under copyright or similar laws and whether or not reduced to
writing, which Employee may solely or jointly conceive or develop or reduce to practice, or cause to be conceived or developed or reduced to practice, during the period of time Employee is employed with the Company, whether or not during working
hours or by the use of the facilities of the Company (collectively referred to as “Inventions”). Employee further agrees that Employee will hold in trust for the sole right and benefit of the Company, and hereby assigns to the Company, or
its designee, all Employee’s right, title, and interest in and to any and all such Inventions which Employee may solely or jointly conceive or develop or reduce to practice, or cause to be conceived or developed or reduced to practice, using
the Company’s time and/or materials or equipment. Employee further acknowledges that all of the above-described Inventions made during the period of Employee’s employment with the Company are “works made for hire”, as that term
is defined in the United States Copyright Act, to the greatest extent permitted by applicable law, and are compensated by Employee’s salary. All Inventions or other work product created by Employee or on Employee’s behalf or by
Employee’s affiliates pursuant to this Agreement shall be free and clear of all 
  

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encumbrances, including without limitation, security interest(s), licenses, liens or other restrictions other than as expressly provided for in this Agreement. Employee hereby appoints the
Company as Employee’s attorney-in-fact to execute on Employee’s behalf any assignments or other documents deemed necessary by the Company to protect or perfect its rights to any Inventions. 

(c) Inventions Assigned to the United States. Employee agrees to assign to the United States government all Employee’s right,
title, and interest in and to any and all Inventions whenever such full title is required to be in the United States by a contract between the Company and the United States or any of its agencies. 

(d) Maintenance of Records. Employee agrees to create and maintain adequate and current written records of all Inventions made by
Employee (solely or jointly with others), and assigned to the Company under Section 7(b) above, during the term of Employee’s employment with the Company. The records will be in the form of notes, sketches, drawings, and any other format
that may be specified by the Company. The records will be available to and remain the sole property of the Company at all times. Employee agrees not to remove such records from the Company’s place of business except as expressly permitted by
the Company policy, which may, from time to time, be revised at the sole discretion of the Company. 
 (e) Patent and
Copyright Registrations. Employee agrees to reasonably assist the Company, or its designee, at the Company’s expense, in every proper way to secure the Company’s rights in the Inventions and any copyrights, patents, mask work rights,
moral rights, or other intellectual property rights relating thereto in any and all countries, including the disclosure to the Company of all pertinent information and data with respect thereto, the execution of all applications, specifications,
oaths, assignments and all other instruments which the Company shall reasonably deem necessary in order to apply for and obtain such rights and in order to assign and convey to the Company, its successors, assigns, and nominees the sole and
exclusive rights, title and interest in and to such Inventions, and any copyrights, patents, mask work rights, moral rights or other intellectual property rights relating thereto. Employee further agrees that Employee’s obligation to execute or
cause to be executed, when it is in Employee’s power to do so, any such instrument or papers shall continue after the termination of this Agreement. If the Company is unable because of Employee’s mental or physical incapacity,
unavailability, or for any other reason to secure Employee’s signature to apply for or to pursue any application for any United States or foreign patents or copyright registrations covering Inventions or original works of authorship assigned to
the Company as above, then Employee hereby irrevocably designates and appoints the Company and its duly authorized officers and agents as Employee’s agent and attorney in fact, to act for and in Employee’s behalf and stead to execute and
file any such applications and to do all other lawfully permitted acts to further the prosecution and issuance of letters patent, copyright registrations or enforcement of other intellectual property rights thereon with the same legal force and
effect as if executed by Employee. 
 8. Conflicting Employment. Employee agrees that, during the Employment Period,
Employee will not engage in any other employment, occupation, consulting or other business activity directly related to the business in which the Company is now involved or becomes involved during the Employment Period, nor will Employee engage in
any other activities that conflict with Employee’s obligations to the Company. 
  

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 9. Returning Company Documents. Employee agrees that, at the time of termination of
Employee’s employment with the Company, Employee will deliver to the Company (and will not keep in Employee’s possession, copy, reproduce, recreate or deliver to anyone else) any and all devices, records, data, notes, reports, proposals,
lists, correspondence, specifications, drawings, blueprints, sketches, materials, equipment, other documents or property, or reproductions of any of the aforementioned items developed by Employee pursuant to Employee’s employment with the
Company or otherwise belonging to the Company, its successors or assigns. Employee further agrees that any property situated on the Company’s premises or on the Company’s computers or servers, including disks and other storage media,
email, and filing cabinets and other work areas, is subject to inspection by Company personnel at any time with or without notice. 

10. Notification of New Employer. Upon termination of Employee’s employment with the Company, Employee hereby grants consent
to notification by the Company to Employee’s new employer or any other party with which Employee may enter into a new relationship with respect to Employee’s obligations under this Agreement. 

11. Certain Covenants. 

(a) Solicitation of Employees, Consultants and Customers. In consideration of the Company’s obligations under this Agreement
and the other consideration recited above, including but not limited to the Company’s obligations pursuant to Section 5, Employee agrees that, during the Employment Period and for a period of twenty-four months immediately following the
Termination Date (“Restricted Period”), Employee shall not, either directly or indirectly, either alone or in concert with others, solicit, induce, recruit, encourage or entice, or attempt to solicit, induce, recruit, encourage or entice,
any employee of or consultant to the Company to leave the Company or work for anyone in the businesses in which the Company and its affiliates are engaged at any time during the one-year period ending on the Termination Date (“Company
Business”). Also, during the Restricted Period, Employee will not directly or indirectly, either for himself or for any other person, firm or corporation, divert or take away or attempt to divert or take away, call on or solicit or attempt to
call on or solicit, any customer of the Company, in connection with any business or activity similar to or related to the Company Business, including but not limited to those on whom Employee called or whom Employee solicited or with whom Employee
became acquainted while engaged as an employee of or a consultant to the Company. During his employment, Employee agrees not to plan or otherwise take any steps, preliminary or otherwise, either alone or in concert with others, to set up or engage
in any business enterprise that would be in competition with the Company. 
 (b) Noncompetition. (i) Employee agrees
that, during the Restricted Period, Employee will not, directly or indirectly, engage or invest in, own, manage, operate, finance, control, or participate in the ownership, management, operation, financing, or control of, be employed by, associated
with, or in any manner connected with, or render services or advice to, any business whose primary line of business is competitive with the Company Business or 

 

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personally engage in, manage or operate, or personally participate in the conduct, management or operation of, be employed by, associated with, or render services or advice to, any business
competitive with the Company Business anywhere in Houston, Texas or in any geographical area within fifty (50) miles of the city limits of Houston, Texas. 

(ii) Notwithstanding the provisions of this Section 11, Employee’s non-competition obligations hereunder shall not preclude
Employee from owning less than one percent (1%) of any class of securities of any enterprise conducting business in the Company Business (but without otherwise participating in the activities of such enterprise) if such securities are listed on
any national or regional securities exchange or have been registered under Section 12(g) of the Securities Exchange Act of 1934. 

(iii) Employee agrees that the time periods and the geographic scope within this Section 11 are reasonable in order for the Company
to be protected from unfair competition and to preserve the Company’s Confidential Information and other legitimate business interests, and are ancillary to and designed to ensure Employee’s compliance with the confidentiality provisions
of this Agreement. Employee specifically recognizes and acknowledges that the work of the Company is so specialized and unique that only such geographic scope can protect the Company from unfair competition. 

(c) Breach. In the event of Employee’s breach of any covenant set forth in this Section 11, the term of such covenant
will be extended by the period of the duration of such breach. 
 (d) Severability. If at any time the provisions of this
Section 11 are determined to be invalid or unenforceable by reason of being vague or unreasonable as to area, duration or scope of activity, this Section 11 shall be considered divisible and shall be immediately amended to only such area,
duration or scope of activity as shall be determined to be reasonable and enforceable by the court or other body having jurisdiction over the matter; and Employee agrees that this Section 11 as so amended shall be valid and binding as though
any invalid or unenforceable provision had not been included herein. 
 12. Notices. Any notice provided for in this
Agreement shall be in writing and shall be either personally delivered, sent by a nationally recognized overnight delivery service, or mailed by first class mail, return receipt requested, to the recipient at the address below indicated: 

Notices to Employee: 

Steve Reeves 

7210 Persimmon Road 

Blanchard, OK 73101 
  

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 Notices to the Company: 

Flotek Industries, Inc. 

2930 W. Sam Houston Pkwy. N., Suite 300 

Houston, TX 77043 
 or such
other address or to the attention of such other person as the recipient party shall have specified by prior written notice to the sending party. Any notice under this Agreement shall be deemed to have been given when so delivered or, if sent by
first class mail, three (3) days after so mailed. 
 13. Severability. Whenever possible, each provision of this
Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any
jurisdiction, such invalidity, illegality or unenforceability shall not affect any other provision or any other jurisdiction, but this Agreement shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or
unenforceable provision had never been contained herein. 
 14. Complete Agreement. Except with respect to any
proprietary information and inventions assignment agreement between the Company and the Employee, this Agreement embodies with respect to the subject matter hereof the complete agreement and understanding among the parties and supersedes and
preempts with respect to the subject matter hereof any prior understandings, agreements or representations by or among the parties, written or oral, which may have related to the subject matter hereof in any way. 

15. Counterparts. This Agreement may be executed in separate counterparts, each of which is deemed to be an original and all of
which taken together constitute one and the same agreement. 
 16. Successors and Assigns. This Agreement is intended to
bind and inure to the benefit of and be enforceable by Employee, the Company and their respective heirs, successors and assigns, except that Employee may not assign his rights or delegate his obligations hereunder without the prior written consent
of the Company except by operation of law to Employee’s estate upon the death of Employee. 
 17. Choice of Law. All
issues and questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by, and construed in accordance with, the laws of the State of Texas, without giving effect to any choice of law or
conflict of law rules or provisions (whether of the State of Texas or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Texas. 

18. Consent to Personal Jurisdiction. Subject to terms and conditions of Section 19, any suit, action or other proceeding
arising out of or based upon this Agreement shall be brought in the federal and state courts located within Harris County, Texas. 
  

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 19. Arbitration and Equitable Remedies. 

(a) Arbitration. Except as provided in Section (b) below, Employee agrees that any dispute or controversy arising out of or
relating to any interpretation, construction, performance or breach of this Agreement, shall be settled by arbitration to be held in Houston, Texas, in accordance with the rules then in effect of the American Arbitration Association, provided
however, the parties will be entitled to full and liberal evidentiary discovery in accordance with the rules governing civil litigation in courts of the same jurisdiction. The arbitrator may grant injunctions or other relief in such dispute or
controversy. The decision of the arbitrator shall be final, conclusive and binding on the parties to the arbitration. Judgment may be entered on the arbitrator’s decision in any court having jurisdiction. The Company and Employee shall split
50%-50% the costs and expenses of such arbitration, and the substantially prevailing party shall be entitled to an award of attorneys fees. 

(b) Equitable Remedies. Each of the Company and Employee agree that disputes relating to or arising out of a breach of the
covenants contained in Sections 6 through 11 of this Agreement would likely require injunctive relief to maintain the status quo of the parties pending the appointment of an arbitrator pursuant to this Agreement. The parties hereto also agree that
it would be impossible or inadequate to measure and calculate the damages from any breach of the covenants contained in this Agreement prior to resolution of any dispute pursuant to arbitration. Accordingly, if either party claims that the other
party has breached any covenant contained in Sections 6 through 11 of this Agreement, that party will have available, in addition to any other right or remedy, the right to obtain an injunction from a court of competent jurisdiction restraining such
breach or threatened breach and/or to specific performance of any such provision of this Agreement pending resolution of the dispute through arbitration. The parties further agree that no bond or other security shall be required in obtaining such
equitable relief and hereby consents to the issuance of such injunction and to the ordering of specific performance. However, upon appointment of an arbitrator, the arbitrator shall review any interim, injunctive relief granted by a court of
competent jurisdiction and shall have the discretion, jurisdiction, and authority to continue, expand, or dissolve such relief pending completion of the arbitration of such dispute or controversy. The parties agree that any orders issued by the
arbitrator may be enforced by any court of competent jurisdiction if necessary to ensure compliance by the parties. 
 20.
Amendment and Waiver. The provisions of this Agreement may be amended or waived only with the prior written consent of the Company and Employee, and no course of conduct or failure or delay in enforcing the provisions of this Agreement shall
affect the validity, binding effect or enforceability of this Agreement. 
  

 12 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the Effective
Date. 
  

			
	FLOTEK INDUSTRIES, INC.
		
	By:	 	 /s/ John W. Chisholm

	Name:	 	John W. Chisholm
	Title:	 	Interim President
	
	 /s/ Steve Reeves

	Steve Reeves

 SIGNATURE
PAGE TO 
 EMPLOYMENT AGREEMENT 

 EXHIBIT A 

LIST OF PRIOR INVENTIONS 

AND ORIGINAL WORKS OF AUTHORSHIP 
  

					
	 Title
	  	 Date
	  	 Identifying Number

or Brief Description

		  		  	
		  		  	

 EXHIBIT B 

CONFIDENTIAL SEVERANCE AND RELEASE AGREEMENT 

This Confidential Severance and Release Agreement (“Agreement”) is entered into on [date], by and between [name] (the
“Employee”) and Flotek Industries, Inc. (the “Company”). 
 WHEREAS, Employee was employed by Company as a
[position]; 
 WHEREAS, Employee’s employment has terminated effective [date]; 

WHEREAS, the Company has offered to provide Employee with the a severance package to facilitate his transition from the Company as
provided in Section 5 of the Employment Agreement dated as of                     , 20     (the “Employment
Agreement”), by and between Employee and Company, contingent on the execution delivery and effectiveness of this Agreement (the “Severance”); and 

WHEREAS, Employee has agreed to release the Company from any claims arising from or related to Employee’s employment relationship
with the Company; 
 NOW THEREFORE, in consideration of the mutual promises made herein, the Company and Employee (jointly
referred to as the “Parties”) hereby agree as follows: 
 1. Termination. Employee’s employment with the
Company will terminate on [date] (the “Termination Date”). 
 2. Consideration. The Company agrees to
pay Employee the Severance, less applicable payroll deductions. Provided Employee complies with his obligations pursuant to Section 7, below, Company shall pay the Severance amount in accordance with the Company’s general payroll practices
as provided in the Employment Agreement, subject to required withholding. Employee acknowledges that in the absence of this Agreement, he would not be entitled to this payment. 

3. Release by Employee. Employee, on behalf of himself and his respective past, present, and future representatives, attorneys,
agents, heirs, successors and assigns, hereby releases the Company and its affiliates and their respective past, present, and future employees, directors, officers, representatives, attorneys, agents, heirs, successors and assigns, and each of them
(collectively, the “Released Parties”), from any and all claims, demands, causes of action, obligations, damages, and liabilities, whether or not now known, suspected, or claimed, that Employee may possess against the Company arising from
his employment up to, until, and including the Effective Date of this Agreement, other than claims, demands, causes of action, obligations, damages, and liabilities arising from the fraud or gross misconduct of the Released Parties (the
“Released Claims”) . Without limiting the generality of this release, Employee agrees to waive any and all Released Claims against the Released Parties arising from employment with the Company, and covenants not to sue them for any such
claims including, but not limited to, those based on state or federal law regarding age, sex (including sexual harassment), religion, handicap, national origin or other discrimination, the Age Discrimination in Employment Act, the Fair Labor
Standards Act (including the Equal Pay Act), the Americans 

 
with Disabilities Act, the Family and Medical Leave Act, the Employee Retirement Income Security Act, Title VII of the Civil Rights Act of 1964, the Texas Labor Code, the Texas Administrative
Code, any other applicable state or local codes or ordinances, and contract or tort claims, whether such claim be based upon an action filed by Employee or a governmental agency, and any and all claims for attorneys’ fees and/or costs. The
Parties agree that the release set forth in this Paragraph shall be and remain in effect in all respects as a complete and general release as to the matters released. This release does not extend to any obligations incurred under this Agreement or
to any obligations under the Bylaws of the Company to Employee with regard to indemnification and advancement of expenses to or for the benefit of Employee. 

4. Unknown Claims. Employee expressly acknowledges that this Agreement resolves and releases all legal claims he may have against
Company as of the date of this Agreement arising from his employment with the Company, including claims of which he may not be aware. 

5. Non-Admission. The fact and terms of this Agreement are not an admission by the Company of liability or other wrongdoing
under any law. 
 6. Payment of Salary. Employee acknowledges and represents that the Company has paid all salary, wages,
bonuses, and any and all other benefits due Employee, other than the consideration described in this Agreement, as well as any expenses with respect to which Employee is entitled to be reimbursed. 

7. Returning Company Property. Employee agrees to deliver to the Company on or before [date], and not to keep in his possession,
recreate, or deliver to anyone else, any and all devices, records, data, notes, reports, proposals, lists, correspondence, specifications, drawings, blueprints, sketches, materials, equipment, other documents or property provided to Employee by the
Company, developed by Employee pursuant to his employment with the Company, or otherwise belonging to the Company. 
 8.
Restrictions. Employee understands that, following the termination of his employment with Company, he must still comply with the terms of the Employment Agreement which includes a two-year non-solicitation and non-compete agreement
following the termination of his employment, and provisions relating to the Confidential Information of the Company and Inventions (as such terms are defined in the Employment Agreement). 

9. Non-Disparagement. The Parties agree to refrain from any defamation, libel, or slander of the other or any of the Released
Parties or tortious interference with the contracts and relationships of the other Party or any of the Released Parties. The Parties further agree that each will not act in any manner that might damage the business or reputation of the other Party
or any of the Released Parties. The Company agrees to respond to any request for information regarding Employee by providing only neutral information, such as Employee’s dates of employment and position held. 

10. No Cooperation. Employee agrees that he will not counsel or assist any attorneys or their clients in the presentation
or prosecution of any disputes, differences, grievances, claims, charges, or complaints by any third party against the Company and/or any officer, director, employee, agent, representative, stockholder, or attorney of the Company and/or any other of
the Released Parties, unless under a subpoena or other court order to do so. 
  

 2 

 11. Attorneys’ Fees. If either Employee or the Company (including any of
the Released Parties) brings an action against the other Party, or otherwise seeks to enforce this Agreement, by reason of the breach of any covenant, warranty, representation, or condition of this Agreement, or otherwise arising out of this
Agreement, whether for declaratory or other relief, the action must be submitted for arbitration to the American Arbitration Association in Houston, Texas. The prevailing party in such arbitration shall be entitled to its costs and attorneys’
fees. 
 12. Counterparts. This Agreement may be executed in separate counterparts, each of which shall be deemed an
original and shall bind the signatory, but all of which together shall constitute one and the same instrument. 
 13.
Severability. In the event that any provision hereof becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable, or void, this Agreement shall continue in full force and effect without said provision.

 14. Costs. The Parties shall each bear their own costs, attorneys’ fees, and other fees incurred in connection
with this Agreement . 
 15. Entire Agreement. This Agreement is the entire agreement and understanding between
the Parties on the subject matter covered herein. The Parties further agree that this Agreement may not be altered except in a writing duly executed by all of the Parties. The laws of the State of Texas shall govern this Agreement, excepting its
principles of conflicts of law. 
 16. Effective Date. This Agreement is effective immediately following the
Parties’ execution of the Agreement, and will be enforceable following the expiration of the 7-day revocation period described below in Paragraph 17 (“Effective Date”). 

17. OWBPA. Under the Older Workers Benefit Protection Act of 1990, Employee acknowledges the following: 

a. That Employee has been advised and is hereby advised by the Company to consult an attorney regarding this Agreement before executing
it; 
 b. That Employee has been afforded twenty-one (21) days to consider whether he is willing to enter into it, although
Employee may, in the exercise of his own discretion, sign it or reject it at any time before the expiration of the 21 days; 

c. That, within seven (7) days after executing this Agreement, Employee may revoke it; and 

d. That this Agreement is not enforceable until the 7-day revocation period has passed. 

 

 3 

 18. Voluntary Execution of Release Agreement. The Parties enter into this Agreement
voluntarily and without any duress or undue influence on the part or behalf of the Parties hereto, with the full intent of releasing all claims. The Parties acknowledge that: 

a. They have read this Agreement; 

b. They have been represented in the preparation, negotiation, and execution of this Agreement by legal counsel of their own choice, or
have knowingly waived such representation; 
 c. They know and understand the terms and consequences of this Agreement and of
the releases it contains; and 
 d. They are fully aware of the legal and binding effect of this Agreement. 

IN WITNESS WHEREOF, the Parties have executed this Agreement on the respective dates set forth below. 

 

					
	DATED: [date]	 	By:	  	  

		 		  	[Company rep]
			
	DATED: [date]	 	By:	  	  

		 		  	[Employee]

  

 4Separation Agreement, by and between IVAX Diagnostics and Mark S. Deutsch

 Exhibit 10.1 

[IVAX DIAGNOSTICS, INC. LETTERHEAD] 

Dear [Mr. Deutsch]: 
 This is to
confirm the termination of your employment with IVAX Diagnostics (the “Company”) effective May 21, 2010 (“Termination Date”). This letter sets forth the terms of the termination of your employment and the benefits the
Company will provide to you upon the cessation of your employment if you sign and return this letter agreement to Charles Struby by May 7, 2010 (“Effective Date”) and do not thereafter timely revoke your acceptance. You can, of
course, sign and return this letter agreement at any time prior to May 7, 2010 after your review if in your best interest to do so. 

By signing and returning this letter, you will be entering into a binding agreement with the Company and will be agreeing to the terms
and conditions set forth in the numbered paragraphs below, including the release of claims set forth in Paragraph 5. 
 If you
choose not to sign and return this letter agreement by the Effective Date, you will not receive the Severance Pay, Stock Options and Health Insurance (as defined in Paragraphs 2, 3 and 4 below). Rather, you will only receive payments of any wages
owed through the Termination Date, and any unused vacation time accrued through the Termination Date. 
 Whether or not you
agree to the terms and conditions in this letter: 
  

	 	•	 	 You will receive payments of any wages owed from the date hereof through the Termination Date; 

 

	 	•	 	 You will receive payments, net of applicable withholding, social security, state and federal taxes, which represents accrued vacation through the
Termination Date , scheduled to be paid on June 2, 2010; and 

  

	 	•	 	 All other benefits provided to you as an employee of the Company, including life insurance and long-term disability, will cease as of May 31,
2010. 

 If, after reviewing this letter agreement, you find the terms and conditions are satisfactory to you,
you should sign and return this letter to Charles Struby by May 7, 2010. 
 The following numbered paragraphs set forth the
terms and conditions which will apply, as of May 21, 2010, if you timely sign and return this letter agreement and do not thereafter timely revoke your acceptance: 
  

	 	1.	Termination of Employment – Your employment with the Company will terminate without cause and by mutual agreement on May 21, 2010, and
all benefits of employment will cease on May 21, 2010. 

	 	2.	Severance Pay – After the Termination Date, the Company will pay you an amount equal to 12 months of your base salary, less all applicable
state and federal taxes (the “Severance Pay”). This Severance Pay will be paid in bi-weekly installments on the regular Company pay dates beginning after the Termination Date. The balance of the Severance Pay will be paid in a lump sum on
September 22, 2010. 

  

	 	3.	Stock Options – The exercise date of company stock options issued to you previously will remain in effect for the life of the remaining term
of those options, as indicated below; 

  

	 	a.	5,116 at $7.12 expiring 3/17/11 

  

	 	b.	10,000 at $4.35 expiring 7/13/15 

  

	 	c.	50,000 at $0.65 expiring 9/22/18 

  

	 	d.	50,000 at $1.20 expiring 9/22/18 

  

	 	    	All such options are fully vested and are exercisable until their respective expiration dates. The Company hereby waives any provisions in the Company’s option
plans or agreements to the contrary to the terms of this Agreement and waives the provisions of Section 13.3(a) of the 1999 Performance Equity Plan regarding competition with the Company. 

 

	 	4.	Health Insurance – Coverage provided to you under COBRA will be paid for by IVAX Diagnostics beginning May 22, 2010 through May 21, 2011.

  

	 	5.	Release – In consideration of the payment and provisions of the Severance Pay, Stock Options and Health Insurance you hereby fully, forever,
irrevocably and unconditionally release, remise and discharge the Company, its officers, directors, stockholders, corporate affiliates, subsidiaries, parent companies, agents and employees (each in their individual and corporate capacities)
(hereinafter, the “Released Parties”) from any and all claims, charges, complaints, demands, actions, causes of action, suits, rights, debts, sums of money, costs, accounts, reckonings, covenants, contracts, agreements, promises, doings,
omissions, damages, executions, obligations, liabilities, and expenses (including attorneys’ fees and costs), of every kind and nature which you ever had or now have against the Released Parties arising out of your employment with and/or
separation from the Company, including, but not limited to: 

  

	 	a.	Any agreement you have with the Company relating to your employment with the Company; 

 

	 	b.	 Any claims, demands or liabilities for wrongful discharge or termination, breach of express or implied contract, unpaid wages, unpaid benefits, unpaid
severance, breach of any covenant of good faith and fair dealing, constructive discharge or pursuant to any federal, state, or local employment laws, regulations, or executive orders prohibiting harassment, retaliation or, inter alia, age,
race, color, sex, gender, 

  

 2 

	 	
national origin, religion, handicap, disability, ancestry, marital status, familial status, and sexual orientation discrimination, such as the Age Discrimination in Employment Act, the Older
Workers Benefit Protection Act, Title VII of the Civil Rights Act of 1964, as amended, the Family Medical Leave Act, the Civil Rights Act of 1866, the Employee Retirement Income Security Act of 1974, the Americans with Disabilities Act of 1990, the
Rehabilitation Act of 1973, the Immigration Reform and Control Act, the Health Insurance Portability And Accountability Act of 1996 (“HIPPA”), the Florida Private Sector Whistleblower Act; 

 

	 	c.	(Section 448.101, et. seq., Florida Statutes), the Florida Civil Rights Act of 1992 (Section 760.01, et. seq, Florida Statutes), the Florida workers’
compensation retaliation statute (Section 440.205, Florida Statutes), the Miami-Dade County Code of Ordinances, the Florida and Federal Constitutions, or any other applicable federal, state, or local law, common or statutory, or tort or common law
cause of action, including, but not limited to, any cause of action for costs, fees, expenses, or attorneys’ fees incurred in these matters, which you ever had, now have, or shall have as the date of this letter; 

 

	 	d.	All common law claims including, but not limited to, actions in tort, defamation, infliction of emotional distress and breach of contract; all claims arising under any
policies, practices or procedures of the Company; all claims to any non-vested ownership interest in the Company, contractual or otherwise, including but not limited to claims to stock or stock options; and 

 

	 	e.	Any other claim for damage arising out of your employment with or separation from the Company (including a claim for retaliation) under any common law theory or and
federal, state or local statute or ordinance not expressly referenced above. 

  

	 	    	Notwithstanding anything to the contrary in this Agreement or in this Section 5, you are not waiving and retain the ability to make a claim or initiate an action
for (1) a breach by the Company of the terms of this Agreement and (2) any obligations the Company may owe to you in your capacity as an officer or employee pursuant to any indemnification provisions or right to contribution contained in
the Company’s certificate of incorporation, under applicable law, or under any insurance policy now or hereafter maintained by the Company. 

  

	 	6.	Continuing Obligations – You acknowledge and reaffirm your obligation diligently fulfill your duties and obligations as Chief Financial
Officer of IVAX Diagnostics up until your Termination Date. In addition, you acknowledge and reaffirm to keep confidential all non-public information concerning the Company which you acquired during the course of your employment with the Company,
and your obligations not to solicit or hire employees of the Company, for a period of six months following the Termination Date. 

  

 3 

	 	7.	Return of Company Property – You understand that you must return all property of the Company. On or before the Termination Date, you confirm
and acknowledge that you have returned to the Company all keys, files, records (and copies thereof), equipment (including, but not limited to, computer hardware, software and printers, wireless handheld devices, cellular phones, pagers, etc.),
Company identification, and any other Company-owned property in your possession or control and have left intact all electronic Company documents, including but not limited to those which you developed or helped develop during your employment. You
further confirm that you have cancelled all accounts for your benefit, if any, in the Company’s name, including but not limited to, credit cards, telephone charge cards, cellular phone and/or pager accounts and computed accounts.

  

	 	8.	Business Expenses and Compensation – You acknowledge that you have been reimbursed by the Company for all business expenses incurred in
conjunction with the performance of your employment and that no other reimbursements are owed to you. Assuming the amounts described in this Agreement are paid to you in full, you acknowledge that you have received payment in full for all services
rendered in conjunction with your employment by the Company and that no other compensation is owed to you. 

  

	 	9.	Non-Disparagement – You understand and agree that as a condition for payment to you of the consideration described herein, you shall not make
any false, disparaging or derogatory statements to any media outlet, industry group, financial institution or current or former employee, consultant, client or customer of the Company regarding the Company or any of its directors, officers,
employees, agents or representatives or about the Company’s business affairs and financial condition. The Company agrees that its current officers, directors and employees shall not make any false, disparaging or derogatory statements about you
to any media outlet, industry group, financial institution or current or former employee, consultant, client or customer of the Company. 

  

	 	10.	Neutral Reference – If the Company receives any inquiries for references regarding your employment with the Company, the Company will then
provide your dates of employment and position held and will not provide any other information to any such inquirer. 

  

	 	11.	Amendment – This letter agreement shall be binding upon the parties and may not be modified in any manner, except by an instrument in writing
of concurrent or subsequent date signed by the parties hereto. This letter agreement is binding upon and shall inure to the benefit of the parties and their respective agents, assigns, heirs, executors, successors and administrators.

  

	 	12.	 Waiver of Rights – No delay or omission by the Company in exercising any right under this letter agreement shall operate as a
waiver of that or any other right. A waiver or consent 

  

 4 

	 	
given by the Company on any one occasion shall be effective only in that instance and shall not be construed as a bar or waiver of any right on any other occasion 

 

	 	13.	Validity – Should any provision of this letter agreement be declared or be determined by any court of competent jurisdiction to be illegal or
invalid, the validity of the remaining parts, terms or provisions shall not be affected thereby and said illegal or invalid part, term or provision shall be deemed not to be a part of this letter agreement. 

 

	 	14.	Confidentiality – You understand and agree that as a condition for payment to you of the Severance Pay, the terms and contents of this letter
agreement, and the negotiations and discussions resulting in this letter agreement, shall be maintained as confidential by you and your agents and representatives and shall not be disclosed by you and your agents and representatives to any person
except to the extent required by federal or state law or as otherwise agreed to in writing by the Company. 

  

	 	15.	Nature of Agreement – You understand and agree that this letter agreement is a severance agreement and does not constitute an admission of
liability or wrongdoing on the part of the Company. 

  

	 	16.	Voluntary Assent – You affirm that no other promises or agreements of any kind have been made to or with you by any person or entity
whatsoever to cause you to sign this letter agreement, and that you fully understand the meaning and intent of this letter agreement. You state and represent that you have had an opportunity to fully discuss and review the terms of this letter
agreement with an attorney. You further state and represent that you have carefully read this letter agreement, understand the contents hereof, freely and voluntarily assent to all of the terms and conditions hereof, and sign your name of your own
free act. 

  

	 	17.	Acknowledgement and Revocation – You acknowledge that you have been given at least twenty-one (21) days to consider this letter
agreement, and that the Company hereby advises you to consult with an attorney of your own choosing prior to signing this agreement. You may revoke your agreement to this letter agreement for a period of seven (7) days following the date you
deliver the signed agreement to the company. Any revocation within this period must be submitted in writing to the Company and state “I hereby revoke my agreement to the letter agreement dated April 15, 2009.” The revocation must be
delivered to, and received by, the Company within seven (7) days after the day you deliver the signed agreement to the Company. This agreement shall not become effective or enforceable until the revocation period has expired without our having
revoked your agreement. 

  

 5 

	 	18.	Applicable Law – This letter agreement shall be interpreted and construed by the laws of the State of Florida, without regard to conflict of law
provisions. 

  

	 	19.	Entire Agreement – This letter agreement contains and constitutes the entire understanding and agreement between the parties hereto with respect to
the termination of your employment with the Company, the Severance Pay and the release of claims against the Company and cancels all previous oral and written negotiations, agreements, commitments, writings in connection therewith. Nothing in this
Paragraph 19, however, shall modify, cancel or supersede your obligations set forth in Paragraph 5 herein. 

  

	 	20.	Continued Indemnification and Insurance – (a) From and after the Effective Date, the Company agrees that it will continue to indemnify, defend
and hold you harmless against any costs or expenses (including attorneys fees and disbursements), judgments, fines, losses, claims, damages or liabilities incurred in connection with any claim, action, suit, proceeding, inquiries or investigation,
whether civil, criminal, administrative or investigative, arising out of or pertaining to (i) the fact that you were an officer, employee, fiduciary or agent of the Company or (ii) matters existing or occurring at or prior to the Effective
Date whether asserted or claimed prior to, at or after the Effective Date, as provided in the Company certificate of incorporation or Company Bylaws, in each case as in effect on the date of this Agreement, (b) The certificate of incorporation
and bylaws of the Company shall continue to contain provisions with respect to indemnification, advancement of expenses and exculpation of former or present directors and officers that treat you, as a former officer, no less favorable than the
Company’s then current officers and directors. (c) After the Effective Date, the Company shall maintain insurance policies from an insurance carrier with respect to directors and officers liability insurance and fiduciary liability
insurance (collectively, “D&O Insurance”), for the persons who are covered by the Company’s existing D&O Insurance including you as a former officer. 

 

	 	21.	Press Release/Announcements – After the Effective Date, all press releases or announcements related to this Agreement or the transactions
contemplated hereby will not be issued or released without the consent of you and the Company, which shall not be unreasonably withheld. 

Please call me if you have any questions about the matters covered in this letter. 

 

			
	Very truly yours,
	
	IVAX DIAGNOSTICS, INC.
		
	By:	 	 /s/    CHARLES
STRUBY        

		 	Charles Struby
		 	CEO & President

  

 6 

 I hereby agree to the terms and conditions set forth above. I intend that this letter agreement become a
binding agreement between the Company and me. 
  

			
	 /s/    MARK
DEUTSCH        
 Mark Deutsch
	  	Date: May 3, 2010

 To be returned by May 7, 2010

  

 7

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