Document:

Form of Stock Option Agreement

 EXHIBIT 10.2 
  
 OFFSHORE LOGISTICS, INC. 
 STOCK OPTION AGREEMENT 
  
 THIS STOCK OPTION AGREEMENT (the “Agreement”) is made as of the      day of              2004, by and between
Offshore Logistics, Inc., a Delaware corporation (the “Company”), and «FirstName»«LastName» (the “Grantee”) pursuant and subject to the provisions of the Offshore Logistics,
Inc. 2004 Stock Incentive Plan, as amended (the “2004 Plan”), a copy of which is furnished to the Grantee. 
  
 WHEREAS, the Company and its stockholders previously have approved and adopted the 2004 Plan, pursuant to which the Company may, from time to time,
make awards of options to purchase shares of the Company’s common stock, par value $0.01 (“Common Stock”), to certain eligible officers and employees of the Company and its subsidiaries; and 
  
 WHEREAS, the 2004 Plan is administered by the Compensation Committee
of the Company’s Board of Directors (the “Committee”); and 
  
 WHEREAS, the Grantee on the date hereof is an officer or employee of the Company and/or one of its subsidiaries and the Grantee on the date hereof does not directly or indirectly own stock representing more
than ten percent of the combined voting power of all classes of stock of the Company or one of its subsidiaries; and 
  
 WHEREAS, the Committee, on
                     (the “Date of Award”), has authorized the granting of options to purchase a certain number of
shares of the Company’s Common Stock to the Grantee thereby allowing the Grantee to acquire a proprietary interest in the Company in order that the Grantee will have further incentive for remaining with and increasing his or her efforts on
behalf of the Company or one of its subsidiaries; and 
  
 WHEREAS, the Grantee has accepted the grant of stock options and agreed to the terms and conditions stated herein and in the 2004 Plan. 
  
 NOW THEREFORE, in consideration of the foregoing and of the mutual covenants hereinafter set forth and other good and valuable consideration, the
receipt and adequacy of which are hereby acknowledged, the parties hereto hereby agree as follows: 
  

	 	1.	Grant of Option. Pursuant to the 2004 Plan and on the terms and subject to the conditions provided in this Agreement, the Committee hereby grants to the Grantee, and the
Grantee accepts, the right and option to purchase all or any part of the number of shares of Common Stock indicated below (the “Option”), at the exercise price per share stated below, being at least the par value per share of
the Common Stock on the Date of Award: 

  

					
	No. of Shares Subject to Option	  	«Option»	  	 
			
	Exercise Price Per Share	  	$            	  	 

  
  

	 	2.	Antidilution Adjustment. In the event of any merger, reorganization, consolidation, recapitalization, stock dividend, stock split, issuance or repurchase of stock or
securities convertible into or exchangeable for shares of Common Stock, grants of options, warrants or rights to purchase the Common Stock (other than pursuant to the Plan), extraordinary distribution with respect to the Common Stock, or other
change in corporate structure affecting the Common Stock, then the Committee may (a) make such substitution or adjustments in the Number of Shares and/or the Exercise Price specified in Paragraph 1 above, (b) make such other substitution or
adjustments in the consideration receivable by 

 the Company upon exercise of the Option, or (c) take such other action as the Committee may determine to
be appropriate in its sole discretion; provided, however, that the number of shares subject to the Option shall always be a whole number. 
  

	 	3.	Vesting. Unless sooner terminated in accordance with the provisions of this Agreement and the 2004 Plan, the Option will vest in annual installments of one-third each
beginning on the first anniversary of the Date of Award. Each Option, or portion thereof, that vests in conformity with this Agreement is referred to as a “Vested Option.” Any Option, or portion thereof, that has not yet
vested is referred to as an “Unvested Option.” All Options, or portions thereof, are either Vested or Unvested Options. 

  

	 	4.	Accelerated Vesting. The Committee may decide, in its absolute discretion, to accelerate the vesting of any or all Unvested Options; provided, however, that the Committee
shall not accelerate the vesting of any Unvested Option if such acceleration would cause the Grantee to violate or incur liability under Section 16 of the Securities Exchange Act of 1934 (“Section 16”). If so accelerated,
such Options shall be considered to have vested as of the date specified by the Committee. Additionally, all Unvested Options shall become vested immediately upon a Change in Control of the Company. 

  

	 	5.	Term. The term of the Option begins on the Date of Award and shall expire on the date that is ten years after the Date of Award. All Unvested Options shall terminate on the
date of the Grantee’s Termination of Employment. Except as otherwise expressly provided in the 2004 Plan and this Agreement, any Option, the term of which has expired or that has otherwise terminated under the provisions of the 2004 Plan or of
this Agreement, shall automatically have no further force or effect. 

  

	 	6.	Method of Exercise. Unvested Options shall not be exercisable. Each Vested Option may be exercised only by the Grantee (or other proper party in the event of the
Grantee’s death or incapacity) at any time during the option term by giving written notice of exercise to the Company specifying the number of shares of Common Stock subject to the Vested Options to be purchased. The aggregate exercise price of
the Vested Options shall be paid in full in cash (by certified or bank check or such other instrument as the Company may accept) or may also be paid by one of the following: (i) in the form of unrestricted Common Stock already owned by the Grantee
based in any such instance on the Fair Market Value of the Common Stock on the date the Vested Option is exercised; (ii) by requesting the Company to withhold from the number of shares of Common Stock otherwise issuable upon exercise of the Vested
Option that number of shares having an aggregate fair market value on the date of exercise equal to the exercise price for all of the shares of Common Stock subject to such exercise; or (iii) by a combination thereof (provided in each case that
adequate provision is made for withholding of applicable taxes). In the discretion of the Committee, the payment of the aggregate exercise price of the Vested Options may also be made in such other manner as may be authorized from time to time by
the Committee, including without limitation (i) payment in the form of an installment note or (ii) payment made by delivering a properly executed exercise notice to the Company, together with a copy of irrevocable instructions to a broker to deliver
promptly to the Company the amount of sale or loan proceeds to pay the purchase price. No shares of Common Stock shall be issued pursuant to this Agreement until full payment therefore has been made. 

  

	 	7.	Suspension of Exercisability. No shares shall be issuable upon the exercise of an Option unless the Company determines that the issuance complies with applicable law. Unless
the shares of Common Stock subject to the 2004 Plan have been registered under the Securities Act of 1933, as amended, no shares shall be issuable upon the exercise of any Option unless the Company determines that registration is unnecessary and, at
the election of the 

  

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 Company, the Grantee has represented in writing that he or she is acquiring the shares for his or her
own account for investment and not with a view to, or for sale in connection with, the distribution of any of the shares. The Company may require that any certificates of shares issued upon the exercise of any Option bear a legend restricting the
transfer thereof on such terms as the Company may determine, and the Company may instruct its transfer agent to “stop transfer” as to any such shares on such terms as the Company deems appropriate. 
  

	 	8.	Exercise Following Termination of Employment for Cause. If the Grantee incurs a Termination of Employment for Cause, then all unexercised options, whether Vested Options or
Unvested Options, shall terminate effective as of the date of the Grantee’s Termination of Employment. 

  

	 	9.	Exercise Following Termination of Employment for Disability or Retirement. If the Grantee incurs a Termination of Employment by reason of his or her Disability or Retirement,
then the Grantee may exercise his or her Vested Options until the earlier of (A) the second anniversary of the date of such Disability or Retirement (or such longer period as may be determined by the Committee in its discretion before the expiration
of such two-year period) and (B) the expiration of such Vested Options in accordance with Paragraph 5 above. 

  

	 	10.	Exercise Following Termination of Employment for Reasons Other Than Cause, Disability, Death or Retirement. If the Grantee incurs a Termination of Employment by reason other
than for Cause, Death, Disability, or Retirement, then the Grantee may exercise his or her Vested Options until the earlier of (A) the ninetieth day following such Grantee’s Termination of Employment (or such longer period as may be determined
by the Committee in its discretion before the expiration of such ninety-day period) and (B) the expiration of such Vested Options in accordance with Paragraph 5 above. 

  

	 	11.	Exercise Following the Grantee’s Death. If the Grantee dies while in the employ of the Company or any subsidiary, any Option held by the Grantee that was exercisable
immediately before the Termination of Employment may be exercised at any time until the earlier of (A) the second anniversary of the date of such death (or such longer period as may be determined by the Committee in its discretion before the
expiration of such two-year period) and (B) the expiration of such Vested Options in accordance with Paragraph 5 above. Notwithstanding any of the foregoing, if the Grantee dies (i) within the ninety-day period specified in Paragraph 10 above, or
(ii) within the two-year period specified in Paragraph 9 above, then the Grantee’s Vested Options may be exercised until the later of (A) the earlier of (1) the first anniversary of the date of such death and (2) the expiration of such Vested
Options in accordance with Paragraph 5 above and (B) the last date on which such Vested Options would have been exercisable, absent this Paragraph 11. These Vested Options may be exercised only by the Grantee’s designated beneficiary, or if no
such beneficiary survives the Grantee, the person or persons entitled to the Option under the Grantee’s will or, if the Grantee shall fail to make testamentary disposition of the Option, his or her legal representative. Any transferee
exercising a Vested Option must furnish the Company with (a) written notice of his or her status as transferee, (b) evidence satisfactory to the Company to establish the validity of the transfer and compliance with any laws or regulations pertaining
to said transfer, and (c) written acceptance of the terms and conditions of the Option as prescribed in this Agreement. 

  

	 	12.	Special Change in Control Post-Termination Exercise Rights. Notwithstanding any other provision in this Agreement, upon the Termination of Employment of a Grantee, other than
for Cause, during the 24-month period following a Change in Control, any Option held by 

  

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 the Grantee as of the date of the Change in Control that remains outstanding as of the date of such
Termination of Employment may thereafter be exercised, until the later of (i) the last date on which such Option would be exercisable in the absence of this Paragraph 12 and (ii) the earlier of (A) the third anniversary of such Change in Control and
(B) expiration of the Term of such Option in accordance with Paragraph 5 above. 
  

	 	13.	No Assignment of Benefits. Except by will or pursuant to the laws of descent and distribution, no Option under this Agreement shall be subject in any manner to alienation,
sale, transfer, assignment, pledge, encumbrance, or charge, and any attempt to alienate, sell, transfer, assign, pledge, encumber, or charge any Option shall be void. No Option shall in any manner be liable for or subject to the debts, contracts,
liabilities, engagements, or torts of any person, nor shall it be subject to attachment or legal process. 

  

	 	14.	Purchase of Options. Notwithstanding Paragraph 13 above, on or before receipt of written notice of exercise of a Vested Option, the Committee may elect to purchase all or any
part of the shares of Common Stock issuable upon the exercise of that Vested Option by paying to the Grantee an amount, in cash or Common Stock, equal to the excess of the Fair Market Value of the Company’s Common Stock (on the effective date
of such purchase) over the exercise price per share of the Vested Option, times the number of shares of Common Stock for which the Vested Option is then being exercised. Any purchase pursuant to this Paragraph 14 relating to Vested Options held by a
Grantee who is actually or potentially subject to Section 16(b) of the 1934 Act with respect to any securities of the Company shall comply, to the extent applicable, with provisions of Rule 16b-3, including the “window period” provisions
of Rule 16b-3(e). 

  

	 	15.	Rights as Stockholder. Neither the Grantee nor any person claiming under or through the Grantee shall be, or have any of the rights or privileges of, a stockholder of the
Company in respect of any shares issuable upon the exercise of an Option unless and until certificates representing such shares shall have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to the
Grantee. Except as provided in the 2004 Plan and this Agreement, no adjustment for dividends, or otherwise, shall be made if the record date for payment of dividends is before the date of issuance of the certificate or certificates.

  

	 	16.	No Effect on Employment. The Company or subsidiary employing the Grantee, as the case may be, determines the terms of Grantee’s employment and neither this Agreement nor
this award of Options confers on the Grantee any right with respect to continued employment, nor shall it interfere in any way with the right of the Company or subsidiary to terminate the employment of the Grantee at any time.

  

	 	17.	Compliance with Governmental Regulations. This Agreement, the grant and exercise of Options under this Agreement and the 2004 Plan, and the obligation of the Company to sell
and deliver shares of the Common Stock upon the exercise of Options, shall be subject to and shall be administered and interpreted in order to comply with all applicable laws, rules, and regulations of governmental or other authorities as amended
from time to time, including without limitation Section 16(b) of the Exchange Act and the rules and regulations promulgated thereunder, with respect to persons subject to Section 16. Further, to the extent any provision of the 2004 Plan or this
Agreement, or any action by the Committee (or its designee) fails to comply with any rules promulgated pursuant to Section 16 (“Section 16 Rules”), it shall be deemed null and void to the extent required for the 2004 Plan or
the Options granted under this Agreement to comply with the Section 16 Rules. Moreover, if this Agreement does not include a provision required by the Section 16 Rules to be stated herein, such provision shall be deemed automatically incorporated by
reference into the Agreement insofar as may be required. 

  

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	 	18.	Section 16. If the Grantee is required to file reports under Section 16 at any time within the six months immediately after the Date of Award, then notwithstanding any other
provision of this Agreement to the contrary, the Grantee shall not, without the prior written consent of the Committee, sell or otherwise dispose of any Common Stock or other security received by the Grantee upon the exercise of any Option within
six months after the Date of Award of such Option. The Company may make such provisions as the Company in its discretion deems necessary or beneficial to the enforcement of this restriction, including but not limited to (a) causing a legend or
legends reflecting this restriction to be placed upon any certificate or certificates representing such Common Stock or other securities, (b) causing stop transfer orders or other restrictions to be imposed with respect to such Common Stock or other
securities, or (c) requiring that the certificate or certificates representing such Common Stock or other securities be held in escrow by the Company or another party selected by the Company pending the expiration of such six month period.

  

	 	19.	Fractional Shares. Fractional shares shall not be issuable under this Agreement, and, when any provision of this Agreement would otherwise entitle the Grantee to purchase a
fractional share, the fraction shall be disregarded. 

  

	 	20.	Replacement Options. The Company hereby further grants the Grantee the right and option (the “Replacement Options”), if and whenever the Grantee exercises
any Vested Options (including any portion of the Option granted in Paragraph 1 above or Replacement Options) granted under this Agreement, and makes payment of the exercise price of such Options by delivering shares of Common Stock held by the
Grantee, to purchase the number of shares of Common Stock delivered by the Grantee in payment of the exercise price of the Options being exercised. All Replacement Options are subject to the following terms and provisions: 

 

	 	a.	The exercise price per share upon the exercise of any Replacement Option is the Fair Market Value per share of the Common Stock as of the Date of Grant of the Replacement Option.

  

	 	b.	Each Replacement Option vests and is exercisable beginning on the date that is six months after the Date of Grant of that Replacement Option. 

  

	 	c.	Each Replacement Option terminates on the same date that the Option in respect of which that Replacement Option was granted would have terminated if that Option had not been
exercised. 

  

	 	21.	Withholding Taxes. The Company may make such provision as it may deem appropriate for the withholding of any taxes the Company determines is required in connection with the
grant or exercise of any Options under this Agreement. If the Company is unable to withhold such federal and state taxes, for whatever reason, the Grantee hereby agrees to pay to the Company an amount equal to the amount the Company would otherwise
be required to withhold under federal or state law. The Committee, in its discretion, may permit the Grantee to pay all or any portion of the taxes required to be withheld by the Company or paid by the Grantee in connection with the exercise of any
Option under this Agreement (a) by electing to have the Company withhold shares of Common Stock due to the Grantee upon exercise having a Fair Market Value as of the date of exercise of the Options equal to the amount required to be withheld or
paid, or (b) by delivering previously owned shares of Common Stock having a Fair Market Value as of the date certificates 

  

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 representing such shares are delivered to the Company equal to the amount required to be withheld or
paid. If the Grantee is required to file reports under Section 16, then any election made by the Grantee to have the Company withhold shares of Common Stock due upon exercise (the “Stock Tax Withholding Election”): (a) must
be made on or before the date that the amount of tax to be withheld is determined (the “Tax Date”); and (b) is subject to disapproval by the Committee and must be (i) irrevocable and made six months or more before the Tax
Date, or (ii) made in a window period commencing on the third business day following the Company’s release of a quarterly or annual summary statement of sales and earnings and ending on the twelfth business day following such release, provided
that the exercise of the Option with respect to which such Stock Tax Withholding Election applies also occurs during such window period, or (iii) made at such other time and in such manner as is permitted with respect to stock options granted under
a plan that qualifies under Rule 16b-3 under the Securities Exchange Act of 1934. 
  

	 	22.	Committee Authority. The Committee shall have the power to interpret the 2004 Plan and this Agreement and to adopt such rules for the administration, interpretation, and
application of the 2004 Plan as are consistent therewith and to interpret or revoke any such rules. The Grantee agrees that all actions taken and all interpretation and determinations made by the Committee in good faith shall be final, conclusive,
and binding upon the Grantee and shall be given the maximum deference permitted by law. Any such interpretations or determinations need not be uniform and may be made differently among persons receiving awards under the 2004 Plan. No member of the
Committee shall be personally liable for any action, determination, or interpretation made in good faith with respect to the 2004 Plan or this Agreement. 

  

	 	23.	Notices. Any notice to be given to the Company under the terms of this Agreement shall be addressed to the Company, in care of its Secretary, at 224 Rue de Jean, Lafayette,
Louisiana 70505, or at such other address as the Company may hereafter designate in writing. Any notice to be given to the Grantee shall be given to the Grantee at his or her usual work location or his or her home address as indicated in the records
of the Company. Any such notice shall be deemed to have been duly given if and when enclosed in a properly sealed envelope, addressed as aforesaid, registered or certified and deposited, postage and registry fee prepaid, in a United States post
office. 

  

	 	24.	Captions. The captions provided herein are for convenience only and are not to serve as a basis for any interpretation or construction of this Agreement.

  

	 	25.	Severability of Agreement. In the event that any provision in this Agreement shall be held invalid or unenforceable, such provision shall be severable from, and such
invalidity or unenforceability shall not be construed to have any effect on, the remaining provisions of this Agreement. 

  

	 	26.	Plan Governs. This agreement is subject to all the terms, conditions, and provisions of the 2004 Plan as in effect on the Date of Award, which 2004 Plan is hereby
incorporated herein in its entirety. In the event of a conflict between one or more provisions of this Agreement and one or more provisions of the 2004 Plan, the provisions of the 2004 Plan shall govern. Terms used in this Agreement that are not
defined in this Agreement shall have the meaning set forth in the 2004 Plan. The Grantee hereby acknowledges receipt of a copy of the 2004 Plan and agrees to be bound by the terms, conditions, and provisions thereof. 

  

	 	27.	Amendments. Except as set forth above in Paragraph 26 above, this Agreement shall not be modified or amended except by the written consent of the parties hereto. No waiver of
either party of any default under this Agreement shall be deemed a waiver of any subsequent default. 

  

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	 	28.	Binding Agreement. Subject to the limitation on the transferability of the Option, this Agreement shall be binding upon and inure to the benefit of the heirs, legatees, legal
representatives, successors, and assigns of the parties hereto. 

  

	 	29.	Governing Law. This Agreement shall be construed under the laws of the State of Delaware. 

  

	 	30.	Definitions. 

  

	 	a.	“Cause” means (i) “Cause,” as that term is defined in the Employment Agreement between the Company and the Grantee or (ii) if there is no Employment
Agreement between the Company and the Grantee or if it does not define Cause: (A) indictment or formal charge of the Grantee for, or plea of guilty or nolo contendere to, a felony, or a misdemeanor involving moral turpitude; provided that any
indictment or formal charge of a Grantee outside the United States shall not de deemed “Cause” unless and until such foreign indictment or formal charge results in the Grantee’s conviction for such offense, (B) dishonesty in the
course of fulfilling the Grantee’s employment duties, (C) willful and deliberate failure on the part of the Grantee to perform such Grantee’s employment duties in any material respect. 

  

	 	b.	“Change in Control” means “Change of Control,” as that term is defined in the Change of Control Agreement between the Company and the Grantee, or, if the
Grantee has not executed a Change of Control Agreement, the happening of any of the following events: 

  

	 	    	(i) The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) (a “Person”) of beneficial ownership
(within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 20% or more of either (A) the then outstanding shares of common stock of the Company (the “Outstanding Company Common Stock”) or (B) the combined voting power of the
then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that for purposes of this definition, the following acquisitions
shall not constitute a Change in Control; (1) any acquisition directly from the Company, (2) any acquisition by the Company, (3) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any
corporation controlled by the Company or (4) any acquisition by any corporation pursuant to a transaction which complies with Sections 9(b)(iii)(A), 9(b)(iii)(B) and 9(b)(iii)(C) of the Plan; or 

  

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	 	    	(ii) Individuals who, as of the Effective Date, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided,
however, that any individual becoming a director subsequent to the Effective Date whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least a majority of the directors then comprising the
Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election
contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; or 

  

	 	    	(iii) Consummation by the Company of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Company or the
acquisition of assets of another corporation (a “Business Combination”), in each case, unless, following such Business Combination, (A) all or substantially all of the individuals and entities who were the beneficial owners, respectively,
of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50.1% of, respectively, the then outstanding shares of common stock
and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Business Combination (including, without limitation, a
corporation which as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately
prior to such Business Combination of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be, (B) no Person (excluding any employee benefit plan (or related trust) of the Company or such corporation
resulting from such Business Combination) beneficially owns, directly or indirectly, 20% or more of, respectively, the then outstanding shares of common stock of the corporation resulting from such Business Combination or the combined voting power
of the then outstanding voting securities of such corporation except to the extent that such ownership existed prior to the Business Combination and (C) at least a majority of the members of the board of directors of the corporation resulting from
such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such Business Combination; or 

  

	 	    	(iv) Approval by the stockholders of the Company of a complete liquidation or dissolution of the Company. 

  

	 	c.	“Disability” means permanent and total disability as defined in Section 22(e)(3) of the Internal Revenue Code, or such definition as may be substituted therefore
for purposes of Section 422 of the Code, as amended from time to time. 

  

	 	d.	“Fair Market Value” means the mean between the highest and lowest reported sales prices of the Common Stock on the New York Stock Exchange or, if not listed on such
exchange, on any other national securities exchange on which the Common Stock is listed or on NASDAQ, or, in the event that the Common Stock is not quoted on any such system, the average of the closing bid prices per share of the Common Stock as
furnished by a professional marketmaker making a market in 

  

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	 	    	the Common Stock designated by the Committee. If there is no regular public trading market for the Common Stock, the Fair Market Value of the Common Stock shall be determined by the
Committee in good faith. 

  

	 	e.	“Retirement” shall mean a Termination of Employment with the Company or any of its subsidiaries at or after age 65; provided, however, that under no circumstances
shall a Termination of Employment by the Company for Cause be considered a Retirement. 

  

	 	f.	“Termination of Employment” means the termination of the Grantee’s employment with the Company and any subsidiary. A Grantee employed by a subsidiary shall
also be deemed to incur a Termination of Employment if the subsidiary ceases to be such a subsidiary, as the case may be, and the Grantee does not immediately thereafter become an employee of the Company or another subsidiary.

  
 IN WITNESS WHEREOF, the Company has
caused this Stock Option Agreement to be executed, and the Grantee has executed this Stock Option Agreement, as of the date first above written. 
  

			
	OFFSHORE LOGISTICS, INC.
		
	 By:
	 	  

	 	 	 «Officer»

	 	 	 Officer designated by the

	 	 	 Compensation Committee

	
	GRANTEE
	
	

	 	 	 «FirstName»«LastName»

  

 - 9 -Employment Agreement between SeraCare Life Sciences, Inc and Thomas Lawlor

  
 Exhibit 10.1

  
 KEY EXECUTIVE 
 EMPLOYMENT AGREEMENT 
  
 This Employment Agreement (“Agreement”) is made and entered into by and between Thomas Lawlor (“Employee”) and SeraCare Life Sciences,
Inc, a California corporation, (“Company”), and is effective as of 12/13/04 (“Effective Date”). 
  
 RECITALS 
  
 WHEREAS, Employee will be employed by virtue of this Agreement, by the Company in various capacities including that of Global Chief Operating Officer. Through such experience Employee will acquire an extensive
background in and knowledge of the Company’s business and the industry in which it is engaged. 
  
 WHEREAS, Employee desires employment with the Company and is willing to undertake such employment on those terms and conditions set forth below.

  
 NOW, THEREFORE, in consideration of the recitals above
and of the mutual promises and conditions in this Employment Agreement, it is agreed as follows: 
  

	1.	INCORPORATION OF RECITALS: 

  
 The parties hereto agree that the Recitals referenced, above are material terms of this Agreement and are incorporated herein by this reference.

  

	2.	TERM OF EMPLOYMENT: 

  
 The Company hereby employs Employee, and Employee hereby accepts exclusive employment with the Company for the period beginning on December 13, 2004 and
ending on December 13, 2005 (“Employment Period”), unless extended or earlier terminated as provided for herein. The Employment Period referenced herein shall be automatically renewed for successive one-year terms (unless earlier
terminated as provided for herein) unless either party hereto notifies the other party in writing, not less than ninety 90) days prior to expiration of the Employment Period, of that party’s intent to not renew this Agreement. 
  

	3.	DUTIES OF EMPLOYEE: 

  
 (a) Employee shall be employed as Global Chief Operating Officer and shall perform such duties as may, from time to time, be assigned by the
Company’s Chief Executive Officer (“CEO”), provided that such duties are reasonably consistent with Employee’s position of Global Chief Operating Officer. Employee will report to the CEO, and, as appropriate, the Company’s
Board of Directors. 
  
 (b) Employee agrees that throughout the
Employment Period he will remain loyal and devote his best efforts to the Company business and conscientiously perform all duties and obligations required of him by the terms of this Agreement. Employee agrees to devote his full 

  

 
business time and energies to Company. Employee agrees that during the Employment Period, he shall not directly or indirectly, either as an employee,
employer, consultant, agent, principal, partner, stockholder, corporate officer, board member, director or in any other individual or representative capacity, engage in any activity that is directly competitive with the goods and services provided
by Company to its customers, provided that Employee shall not be prohibited from continuing as a shareholder in any entity in which he was a shareholder as of the Effective Date. Employee’s principal place of business shall be in Bridgewater,
Massachusetts. Employee shall travel on Company business as the CEO reasonably determines to be appropriate. 
  
 (c) Employee shall disclose to the CEO or any member of the Board of Directors any material business opportunity which is presented to him by an entity or
individual not affiliated with the Company and which relates to the business of the Company, its subsidiaries or parent. 
  

	4.	COMPENSATION OF EMPLOYEE: 

  

	 	(a)	Regular Salary: 

  
 As compensation for services rendered under this Agreement, the Company shall pay to Employee a salary at the rate of TWO
HUNDRED FIFTY THOUSAND DOLLARS AND NO CENTS ($250,000.00) per year payable every two weeks on Wednesdays, from which shall be deducted federal,
state and if applicable, local income tax withholding, social security and other customary employee deductions in conformity with the payroll policies of the Company in effect from time to time. The statement of salary in annual terms does not
affect or alter in any way the term of employment. The Company’s Compensation Committee shall review the Employee’s salary on at least on annual basis for possible increases and communicate with Employee as to the results of any such
review. 
  

	 	(b)	Bonuses: 

  
 (i) The Company shall pay Employee a one-time sign-on bonus of FIFTY THOUSAND DOLLARS
AND NO CENTS ($50,000.00) payable at the beginning of Employee’s employment with the Company. 
  
 (ii) Employee shall be awarded an annual bonus, the amount of which shall be in the sole and absolute discretion of the Company’s
Compensation Committee; provided Employee shall receive a bonus in the amount of no less than FIFTY THOUSAND DOLLARS AND NO CENTS ($50,000.00) for work
performed in fiscal year 2005 and each subsequent fiscal year he is employed by the Company. In determining the amount of such annual bonus above FIFTY THOUSAND DOLLARS AND
NO CENTS ($50,000.00), the Compensation Committee will consider, among other things, the Employee’s performance for the year and the Company’s financial performance for the year, with a maximum bonus potential
of ONE HUNDRED TWENTY THOUSAND DOLLARS AND NO CENTS ($120,000.00) for fiscal year 2005. 
  

 2 

	 	(c)	Stock Options: 

  
 Employee shall be granted an option to purchase 160,000 shares of the Company’s common stock at the closing price on the first day
Employee begins his employment with the Company under this Agreement. Employee’s stock options shall vest over three (3) years. The terms of any stock options acquired by Employee shall be governed by the Company’s Incentive Stock Option
Agreement (the “Option Agreement”), attached hereto and incorporated herein as Exhibit 1. 
  

	 	(d)	Paid Time Off (“PTO”): 

  
 Employee shall earn PTO on a monthly basis. To earn PTO for a given month, Employee must have been paid or owed payment for a minimum of
fifteen (15) days during that month. Employee will accrue PTO at a minimum rate of four (4) weeks of PTO per year throughout his employment with the Company, until such time as the Employee becomes entitled to accrue PTO at a greater rate in
accordance with the Company’s PTO policies. Except as provided for herein, Employee’s entitlement to PTO shall be subject to the terms and conditions of the Company’s PTO policies which may be amended and changed in accordance with
the Company’s normal business practices. 
  

	 	(e)	Reimbursement of Expenses: 

  
 Employee shall be reimbursed for any necessary tax deductible business expenditures incurred by Employee in the performance of
Employee’s duties on behalf of the Company during the term of employment as permitted by the Company policies in effect from time to time. 
  

	 	(f)	Automotive-Related Expenses: 

  
 Employee shall receive a payment of at least ONE THOUSAND DOLLARS AND
NO CENTS ($1,000.00) per month for use toward automotive-related expenses. 
  

	 	(g)	Medical Insurance: 

  
 Employee shall be entitled to the same medical and hospitalization insurance benefits as provided by the Company to its other employees
and the insurance plan documents related thereto. To the extent the Company offers its key executives other medical and hospitalization insurance benefits, Employee shall be entitled to such benefits. 
  

 3 

	 	(h)	Holidays: 

  
 Employee shall be entitled to ten paid holidays per year as permitted by the Company’s policies in effect from time to time.

  

	 	(i)	Legal Expenses Related to this Agreement: 

  
 The Company shall pay for all reasonable legal expenses Employee incurs in connection with the review and preparation of this Agreement.
The Company shall make said payment within a reasonable period of time after receipt of invoices from Employee. 
  

	 	(j)	Miscellaneous Benefits: 

  
 Employee shall also be entitled to receive any other benefits for which Employee is eligible that are provided to other employees of the
Company and which are not specifically referenced in this Agreement, such as dental insurance, life insurance, long term disability and participation in the Company’s 401(k) plan. Such benefits shall be subject to the terms and conditions of
the applicable benefit plan documents which may be amended and changed in accordance with the Company’s normal business practices. 
  

	5.	CUSTOMER LISTS, TRADE SECRETS AND UNFAIR COMPETITION: 

  
 Employee acknowledges and agrees that the names and addresses of the Company’s customers and prospective customers (collectively referred to herein
as “Customers” and defined herein as all customers that the Company sells or actively solicits to sell the goods and services provided by Company) and all other confidential information relating to those Customers, including but not
limited to all information such as information on the profitability and/or profit margins of the Company, the Company’s Customer lists and potential leads Customer lists, any other information relating to the Company’s Customers that have
been obtained or made known to Employee solely as the result of Employee performing his services for the Company, profitability of the Company, business plans, strategy plans, sales figures, sales reports, internal memoranda, inventions, software
developed by or for the benefit of the Company and related data source code and programming information (whether or not patentable or registered under copyright or similar statutes), information about the Company’s design technology and know
how, formulae, manufacturing and/or design techniques, inventions (whether patentable or not), works of authorship, copyrighted software and/or other copyrighted materials created by or for the benefit of the Company, personnel policies,
Company’s marketing methods and related data, Customer buying and selling habits and special needs, accounting/financial records (including, but not limited to, balance sheets, profit and loss statements, tax returns, payable and receivable
information, bank account information and other financial reporting information), marketing strategies, unique methods and procedures regarding pricing, bidding and advertising, the names of Company’s vendors and suppliers, information relating
to costs, sales or services provided to the Company by such vendors and suppliers, the prices the Company obtains or has obtained for the Company’s products or services, compensation paid to the Company’s employees, and other 

  

 4 

 
terms of employment, information regarding the Company’s relations with its employees, information regarding other employees or agents of the Company,
or any other confidential information regarding the manner of business operations and actual or demonstrably anticipated business, research or development of the Company are provided in confidence and constitute Confidential Information/“Trade
Secrets” (as defined in ALM GL ch. 266, § 30(4)) of the Company and that the sale or unauthorized use or disclosure of any of the Company’s Confidential Information/Trade Secrets obtained by Employee during his employment with the
Company constitutes unfair competition. Employee promises not to engage in any unfair competition with the Company. 
  

	6.	TERMINATION: 

  
 (a) This Agreement shall terminate upon the occurrence of any of the following events: 
  
 (i) Termination For Cause: The Company may terminate this Agreement immediately and without notice for
“Cause.” “Cause” for the purpose of this Agreement shall include, but is not limited to: (a) participation in any fraud or act of dishonesty; (b) a material knowing violation of any statute or regulation enforced by the
Securities Exchange Commission or failure to report and/or prevent such a violation; (c) theft; (d) a material violation of Company policy which causes a material detriment to the Company; (e) intentional material damage to any property of the
Company; (f) indictment or conviction of a felony; (g) alcohol or drug abuse; (h) unethical business conduct; (i) material breach of this Agreement; (j) Employee becomes “permanently disabled or incapacitated” (the term, “permanently
disabled or incapacitated” means any physical and/or mental ailment or condition that prevents the Employee from actively carrying out his duties hereunder for the Company for ninety (90) or more cumulative days during the term of this
Agreement or sixty (60) or more consecutive days in any 365 day period during the term of this Agreement); (k) the written agreement of both the Company and Employee; and (1) the death of Employee. If this Agreement is terminated for
“Cause” as herein defined, Employee shall not be entitled to severance payments set forth in paragraph 7. 
  
 (ii) Termination Without Cause: The Company and Employee agree that Employee’s employment with the Company as referenced in the
provisions of this Agreement and all terms and conditions contained herein can be terminated by the Company or Employee at anytime without cause, subject to the provisions contained in paragraph. 7. 
  
 (iii) Change in Control: “Change in Control” shall
mean the acquisition of beneficial ownership (within the meaning of Rule 13d-3 under the Securities Exchange Act of 1934, as amended) of an aggregate of more than fifty-one percent (51%) of the voting power of the Company’s outstanding voting
securities by any person or group (as such term is used in Rule 13d-5 under such Act) who beneficially owned less than the majority percentage (i.e., 50.001%) of the voting power of the Company’s outstanding voting securities on the date
hereof; provided, however, that notwithstanding the foregoing, an acquisition shall not constitute a Change in Control hereunder if the acquiror is (a) a trustee or other fiduciary holding securities 

  

 5 

 
under an employee benefit plan of the Company and acting in such capacity; (b) a corporation owned, directly or indirectly, by the stockholders of the
Company in substantially the same proportions as their ownership of voting securities of the Company; or (c) any person whose acquisition of shares of voting securities is approved in advance by a majority of the Board of Directors or who is an
affiliate, associate or shareholder of any shareholder of the Company as of the execution of this Agreement. 
  
 (iv) Termination for Good Reason; The Employee may terminate his employment for Good Reason as defined below. If Employee terminates his
employment for Good Reason, Employee shall be entitled to the severance payments set forth in paragraph 7. For purposes of this Agreement, “Good Reason” shall mean: (a) any change in Employee’s principal work location to a location
more than twenty (20) miles from his prior primary work location; (b) any material failure by the Company to provide Employee with the compensation set forth in Paragraph 4; and (c) any material breach of this Agreement by the Company. 

 
 (b) If Employee’s employment with the Company is
terminated for any reason, Employee shall promptly deliver, without request, all documents and data pertaining to Employee’s employment and Confidential Information/Trade Secrets, whether prepared by Employee or otherwise, in Employee’s
possession and/or control, and Employee shall not retain any written or other tangible material containing information concerning or disclosing any of the Company’s Confidential Information/Trade Secrets. 
  

	7.	SEVERANCE: 

  
 (a) If Employee is terminated by the Company for any reason other than “Cause” (as defined in paragraph 6(a)(i)) or a “Change in
Control” (as defined in paragraph 6(a)(iii)), or Employee terminates his employment for “Good Reason” (as defined in paragraph 6(a)(iv)), the Company shall provide Employee with (i) the equivalent of one (1) year of his then current
regular salary, less standard deductions and withholdings; (ii) any accrued but unpaid bonus the Company’s Compensation Committee has determined that Employee is eligible to receive as set forth in Paragraph 4(b)(ii), less standard deductions
and withholdings (“Severance Pay”); and (iii) any unvested portion of any stock option shall immediately accelerate such that a number of shares in the Company’s common stock (in addition to that which had vested on the most recent
prior vesting date) equal to the number of shares that would vest if vesting occurred on an even monthly basis during the year in which the termination of employment occurs shall be deemed vested, provided that Employee first executes and does not
revoke a release substantially in the form attached hereto as Exhibit 2. 
  
 (b) If a “Change in Control” (as defined, in paragraph 6(a)(iii)) occurs, any unvested portion of any stock option shall immediately become fully vested and exercisable. In, addition, if following a Change
in Control, (i) the Company fails to properly effectuate assumption of this Agreement by any successors or assigns of the Company; (ii) the Employee is not offered a similar position with similar benefits; and (iii) the Employee voluntarily resigns
following a Change in Control, then the Company shall provide employee with (A) the equivalent of one 

  

 6 

 
hundred fifty percent (150%) of his then current regular salary, less standard deductions and withholdings; (B) any accrued but unpaid bonus the
Company’s Compensation Committee has determined that Employee is eligible to receive as set forth in paragraph 4(b)(ii), provided that Employee first executes and does not revoke a release substantially in the form attached hereto as Exhibit 2.

  

	8.	MISCELLANEOUS: 

  

	 	(a)	Authority of Company: 

  
 The Employee recognizes the authority of the CEO as his superior in all aspects of his relationships with the Company. For purposes of the
normal conduct of business between the Company and the Employee, CEO or any other officer or director appointed by the Company is recognized as duly representing the Company. 
  

	 	(b)	Notices: 

  
 Any notices to be given hereunder by either party to the other may be effected by personal delivery or certified mail to the following
addresses or at such other address as the parties shall designate from time to time by notice in writing in the manner provided hereunder: 
  

			
	 The Company
	  	 1935 Avenida Del Oro, Suite F
 Oceanside, California
92056

		
	 Employee
	  	 66 Old North Trail
 Mansfield, Massachusetts
02048

  

	 	(c)	Prior Obligations to Hemonetics: 

  
 Employee has represented to the Company that he is not precluded by any prior obligation to Hemonetics from being employed by the Company
or performing his duties as the Global Chief Operating Officer on behalf of the Company. However, in the event that Hemonetics improperly asserts or improperly threatens to assert that Employee is precluded by prior obligations from being employed
by the Company or performing his duties as the Global Chief Operating Officer on behalf of the Company, the Company agrees that it shall pay for Employee’s legal defense (by an attorney of the Company’s choosing) and indemnify Employee
with respect to any liability related thereto. 
  

	 	(d)	Binding Agreement: 

  
 This Agreement shall be binding upon and inure to the benefit of Employee, his heirs, executors and administrators, and the Company, and
its successors and its assigns. 
  

 7 

	 	(e)	Entire Agreement: 

  
 This Agreement, including exhibits, constitutes the entire agreement between Employee and the Company and it supersedes any prior
agreement, promise, representation, or statement written or otherwise between Employee and the Company with regard to this subject matter. It is entered into without reliance on any promise, representation, statement or agreement other than those
expressly contained or incorporated herein, and it cannot be modified or amended except in a writing signed by Employee and the Chief Executive Officer of the Company. In the event of any inconsistency between this Agreement and the Company’s
Option Agreement (attached as Exhibit 1), the terms of this Agreement shall govern. 
  

	 	(f)	Severable Agreement: 

  
 If any provision of this Agreement is held by a court or other agency of competent jurisdiction to be invalid, void, or unenforceable,
then the remaining provisions shall nevertheless continue in full force without being impaired or invalidated in any way. 
  

	 	(g)	Applicable Law: 

  
 This Agreement shall be governed and construed in accordance with the laws of the State of California. 
  

	 	(h)	Waiver of Breach: 

  
 Any waiver by either party of any breach of any provision of this Agreement shall not operate as or be construed as a waiver of any
subsequent breach thereof. 
  

	 	(i)	Arbitration of Disputes: 

  
 Employee agrees and acknowledges that the Company and Employee will utilize binding arbitration to resolve all disputes that may arise out
of the employment context, including disputes arising out of this Agreement. Both the Company and Employee agree that any claim, dispute, and/or controversy that either Employee may have against the Company (or its owners, directors, officers,
managers, employees, agents, and parties affiliated with its employee benefit and health plans) or the Company may have against Employee shall be submitted to and determined exclusively by binding arbitration through and in accordance with the
American Arbitration Association’s national rules for the resolution of employment disputes. In addition to any other requirements imposed by law, the arbitrator selected shall be a retired State or Federal judge, or an otherwise qualified
individual to whom the parties mutually agree. Employee understands and agrees to this binding arbitration provision, and both Employee and the Company give up their right to trial by jury of any claim Employee or the Company may have against each
other. 
  

 8 

 The arbitration shall take place in San Diego County, California within a reasonable period of time
following the date of the demand for arbitration. 
  
 IN WITNESS
WHEREOF, the parties have caused this Agreement to be duly executed at                     , California, by: 
  

							
	 	 	 	 	 EMPLOYEE:

			
	 DATED: 11/8/04
	 	 	 	 /s/ Thomas Lawlor

	 	 	 	 	 Thomas Lawlor

			
	 	 	 	 	 SeraCare Life Sciences, Inc., a California corporation

				
	 DATED: 11/8/04
	 	 	 	 By:
	 	 /s/ Michael F. Crowley

	 	 	 	 	 	 	 Michael F. Crowley

	 	 	 	 	 	 	 Chief Executive Officer

  

 9 

  
 EXHIBIT 2 

 
 SEVERANCE AND RELEASE AGREEMENT 
  
 THIS SEVERANCE AND RELEASE AGREEMENT (“Agreement”) is made and
entered into by and between SeraCare Life Sciences, Inc., a California corporation (the “Company”), and Thomas Lawlor (“Employee”). 
  
 WHEREAS, the Company and Employee entered into a Key Executive Employment Agreement dated
                    , 2004 (the “Employment Agreement”). 
  
 WHEREAS, the Company and Employee have determined that it is in their best interests for Employee to separate from his
position with the Company; 
  
 WHEREAS, the Company wishes to
provide Employee with certain benefits in consideration of Employee’s separation and the promises and covenants of Employee as contained herein, including the Employee’s agreement to release all claims against the Company; 
  
 NOW THEREFORE, in consideration of and exchange for the promises, covenants,
and releases contained herein, the parties mutually agree as follows: 
  
 1. Separation. Employee’s separation from all positions he holds with the Company shall be effective on
                    , 20    . 
  
 2. Consideration in the Event of Termination. In the event Employee is terminated by the Company for any reason other
than “Cause” (as defined in Paragraph 6(a)(i) of the Employment Agreement) or a “Change in Control” (as defined in Paragraph 6(a)(iii) of the Employment Agreement), or Employee terminates his employment for “Good
Reason” (as defined in Paragraph 6(a)(iv) of the Employment Agreement) the Company shall, provided that Employee does not revoke this Agreement as provided in Paragraph 7, on the eighth (8th) day following Employee’s execution of this Agreement, pay Employee an amount equal to one (1) year regular salary, which is equal to
$                    , less all required and customary withholdings and deductions and any accrued but unpaid bonus the Company’s
Compensation Committee has determined that Employee is eligible to receive as set forth in Paragraph 4(b)(ii) of the Employment Agreement, which is equal to
$                    , less all required and customary withholdings and deductions. Said payment shall be made no sooner than the Effective
Date (as defined below) and shall be made within ten (10) days thereafter. Furthermore, any unvested portion of any stock option shall immediately accelerate such that a number of shares in the Company’s common stock (in addition to that which
had vested on the most recent prior vesting date) equal to the number of shares that would vest if vesting occurred on an even monthly basis during the year in which the termination of employment occurs shall be deemed vested. Employee acknowledges
that he would not otherwise be entitled to the consideration set forth in this paragraph were it not for his covenants, promises, and releases set forth hereunder. 
  
 3. Consideration in the Event of a “Change in Control”. In the event that a “Change in Control”
has occurred (as defined in Paragraph 6(a)(iii) of the Employment Agreement), and (i) the Company failed to properly effectuate assumption of this Agreement by any successors or assigns of the Company, (ii) the Employee was not offered a similar
position with similar benefits and (iii) the Employee voluntarily resigned, the Company shall, provided that Employee does not revoke this Agreement as provided in Paragraph 7, on the eighth (8th) day following Employee’s execution of this Agreement, pay Employee an amount equal to one hundred fifty percent (150%) of one (1) year regular 

  

 2 

 
salary, which is equal to $                    ,
less all required and customary withholdings and deductions, and any accrued but unpaid bonus the Company’s Compensation Committee has determined that Employee is eligible to receive as set forth in Paragraph 4(b)(ii) of the Employment
Agreement, which is equal to $                    , less all required and customary withholdings and deductions. Said payment shall be
made no sooner than the Effective Date (as defined below) and shall be made within ten (10) days thereafter. Employee acknowledges that he would not otherwise be entitled to the consideration set forth in this paragraph were it not for his
covenants, promises, and releases set forth hereunder. Furthermore, in the event that a Change in Control has occurred, any unvested portion of any stock option shall immediately become fully vested and exercisable. 
  
 4. No Amounts Owing. Employee acknowledges that he has received all
wages and compensation due to him from Company and that Company shall owe Employee nothing further once Employee receives the consideration described in the preceding paragraph. 
  
 5. Release by Employee. Employee agrees for Employee, Employee’s heirs, executors, administrators, successors
and assigns to forever release and discharge the Company and its subsidiaries, related companies, parents, successors and assigns, officers, directors, agents, attorneys, employees and former employees from any and all claims, debts, promises,
agreements, demands, causes of action, attorneys’ fees, losses and expenses of every nature whatsoever, known or unknown, suspected or unsuspected, filed or unfiled, arising prior to the Effective Date of this Agreement, or arising out of or in
connection with Employee’s employment by and termination from Company or any affiliate of Company. This total release includes, but is not limited to, all claims arising directly or indirectly from Employee’s employment with Company and
the termination of that employment; claims or demands related to salary, bonuses, commissions, stock, stock options, vacation pay, fringe benefits and expense reimbursements pursuant to any, state or local law; causes of action, including, but not
limited to, breach of contract, breach of the implied covenant of good faith and fair dealing, infliction of emotional harm, wrongful discharge, violation of public policy, defamation and impairment of economic opportunity; any claims for violation
of state statutes relating to discrimination, labor, disability, workers’ compensation, wage and hour, civil rights, family leave, and medical leave; and any claims for violation of the Civil Rights Act of 1866, Title VII of the Civil Rights
Act of 1964, the Age Discrimination in Employment Act of 1967, the Older Workers’ Benefit Protection Act, the California and Federal Family and Medical Leave Acts, Section 503 of the Rehabilitation Act of 1973, the Employee Retirement Income
Security Act, as amended, the Fair Labor Standards Act, and the Americans With Disabilities Act of 1990 or any other facts, transactions or occurrences relating to Employee’s employment with Company. 
  
 6. Waiver of Section 1542. 
  
 Employee hereby states that his intention in executing this
Agreement is that the same shall be effective as a bar to each and every claim, demand, cause of action, obligation, damage, liability, charge, attorneys’ fees and costs released herein. Employee hereby expressly waives and relinquishes all
rights and benefits, if any, arising under the provisions of Section 1542 of the Civil Code of the State of California, which provides: 
  
 Section 1542. [Certain Claims Not Affected By General Release.] A general release does not extend to claims which the creditor does not know or
suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor. 
  

 3 

 7. Customer Lists, Trade Secrets and Unfair Competition. Employee acknowledges and agrees that the
names and addresses of the Company’s customers and prospective customers (collectively referred to herein as “Customers” and defined herein as all customers that the Company sells or actively solicits to sell the goods and services
provided by Company) and all other confidential information relating to those Customers, including but not limited to all information such as information on the profitability and/or profit margins of the Company, the Company’s Customer lists
and potential leads Customer lists, any other information relating to the Company’s Customers that have been obtained or made known to Employee solely as the result of Employee performing his services for the Company, profitability of the
Company, business plans, strategy plans, sales figures, sales reports, internal memoranda, inventions, software developed by or for the benefit of the Company and related data source code and programming information (whether or not patentable or
registered under copyright or similar statutes), information about the Company’s design technology and know how, formulas, manufacturing and/or design techniques, inventions (whether patentable or not), works of authorship, copyrighted software
and/or other copyrighted materials created by or for the benefit of the Company, personnel policies, Company’s marketing methods and related data, Customer buying and selling habits and special needs, accounting/financial records (including,
but not limited to, balance sheets, profit and loss statements, tax returns, payable and receivable information, bank account information and other financial reporting information), marketing strategies, unique methods and procedures regarding
pricing, bidding and advertising, the names of Company’s vendors and suppliers, information relating to costs, sales or services provided to the Company by such vendors and suppliers, the prices the Company obtains or has obtained for the
Company’s products or services, compensation paid to the Company’s employees, and other terms of employment, information regarding the Company’s relations with its employees, information regarding other employees or agents of the
Company, or any other confidential information regarding the manner of business operations and actual or demonstrably anticipated business, research or development of the Company are provided in confidence and constitute Confidential
Information/“Trade Secrets” (as defined in ALM GL ch. 266, § 30(4)) of the Company and that the sale or unauthorized use or disclosure of any of the Company’s Confidential Information/Trade Secrets obtained by Employee during his
employment with the Company constitutes unfair competition. Employee promises not to engage in any unfair competition with the Company. 
  
 8. Newly Discovered Facts. Employee hereby acknowledges that he may hereafter discover facts different from or in addition to those that he now
knows or believed to be true when he expressly agreed to assume the risk of the possible discovery of additional facts, and he agrees that this Agreement will be and remain effective regardless of such additional or different facts. Employee
expressly agrees that this Agreement shall be given full force and effect according to each and all of its express terms and provisions, including those relating to unknown or unsuspected claims, demands, causes of action, governmental, regulatory
or enforcement actions, charges, obligations, damages, liabilities, and attorneys’ fees and costs, if any, as well as those relating to any other claims, demands, causes of action, obligations, damages, liabilities, charges, and attorneys’
fees and costs specified herein. 
  
 9. Acknowledgment of
Rights and Waiver of Claims Under the Age Discrimination in Employment Act (“ADEA”). Employee acknowledges that he is knowingly and voluntarily waiving and releasing any rights he may have under the Age Discrimination in Employment Act

  

 4 

 
of 1967 (“ADEA”). He also acknowledges that the consideration given for the waiver and release in the preceding paragraph hereof is in addition to
anything of value to which he was already entitled. Employee further acknowledges that he has been advised by this writing, as required by the Older Workers’ Benefit Protection Act, that; (a) his waiver and release does not apply to any rights
or claims that may arise after the Effective Date of this Agreement; (b) he should consult with an attorney prior to executing this Agreement; (c) he has at least twenty-one (21) days to consider this Agreement (although he may by his own choice
execute this Agreement earlier); (d) he has seven (7) days following the execution of this Agreement by the parties to revoke the Agreement; and (e) this Agreement shall not be effective until the date upon which the revocation period has expired
(“Effective Date”). Employee may revoke this Release only by giving the Company formal, written notice of Employee’s revocation of this Release, to the CEO of the Company, to be received by the Company by the close of business on the
seventh day following Empl 
  
 10. Company Property.
Employee hereby represents and warrants that on or before the Effective Date of this Agreement, he will return to the Company all Company property and documents in his possession including, but not limited to, Confidential Information/Trade Secrets,
Company files, notes, records, computer recorded information, tangible property, credit cards, entry cards, pagers, identification badges, and keys. 
  
 11. Confidentiality. The parties agree that they will keep the terms, amount and fact of this Agreement completely confidential, and that they will
not hereafter disclose any information concerning this Agreement to anyone; provided, however, that Employee may make such disclosure to his immediate family, and Employee and the Company may make such disclosure to their respective professional
representatives (e.g., attorneys, accountants, auditors, tax preparers), all of whom will be informed of and agree to be bound by this confidentiality clause, or other such disclosures required by law. 
  
 12. Waiver of Future Employment. Employee understands that his
employment with the Company has terminated; he waives any rights to future employment; and he agrees that he will never again apply for or seek employment with the Company or any subsidiary or affiliate of the Company. Employee agrees that should he
apply for employment with the Company or any subsidiary or affiliate, then the Company and/or its affiliates shall have cause to deny his application for employment without recourse. 
  
 13. Entire Agreement. This Agreement embodies the entire agreement of all the parties hereto who have executed it and
supersedes any and all other agreements, understandings, negotiations, or discussions, either oral or in writing, express or implied, between the parties to this Agreement. The parties to this Agreement each acknowledge that no representations,
inducements, promises, agreements or warranties, oral or otherwise, have been made by them, or anyone acting on their behalf, which are not embodied in this Agreement; that they have not executed this Agreement in reliance on any representation,
inducement, promise, agreements, warranty, fact or circumstances, not expressly set forth in this Agreement; and that no representation, inducement, promise, agreement or warranty not contained in this Agreement including, but not limited to, any
purported settlements, modifications, waivers or terminations of this Agreement, shall be valid or binding, unless executed in writing by all of the parties to this Agreement. This Agreement may be amended, and any provision herein waived, but only
in writing, signed by the party against whom such an amendment or waiver is sought to be enforced. 
  
 14. Binding Nature. This Agreement, and all the terms and provisions contained herein, shall bind the heirs, personal representatives, successors
and assigns of each party, and 

  

 5 

 
inure to the benefit of each party, its agents, directors, officers, employees, servants, successors, and assigns. 
  
 15. Construction. This Agreement shall not be construed in favor of
one party or against the other. 
  
 16. Partial Invalidity.
Should any portion, word, clause, phrase, sentence or paragraph of this Agreement be declared void or unenforceable, such portion shall be considered independent and severable from the remainder, the validity of which shall remain unaffected.

  
 17. Compliance with Terms. The failure to insist upon
compliance with any term, covenant or condition contained in this Agreement shall not be deemed a waiver of that term, covenant or condition, nor shall any waiver or relinquishment of any right or power contained in this Agreement at any one time or
more times be deemed a waiver or relinquishment of any right or power at any other time or times. 
  
 18. Governing Law and Jurisdiction. This Agreement shall be interpreted under the law of the State of California, both as to interpretation and
performance. 
  
 19. Section Headings. The section and
paragraph headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. 
  

20. Counterparts. This Agreement may be executed in two counterparts, each of which shall be deemed an original, all of which together shall
constitute one and the same instrument. 
  
 21. No
Admissions. It is understood and agreed by the parties that this Agreement represents a compromise and settlement for various matters and that the promises and payments and consideration of this Agreement shall not be construed to be an
admission of any liability or obligation by either party to the other party or any other person. 
  
 22. Voluntary and Knowing. This Agreement is executed voluntarily and without any duress or undue influence on the part or behalf of the parties
hereto. 
  
 IN WITNESS WHEREOF, the parties have
executed this Agreement on the respective dates set forth below. 
  

									
	 Dated:
	 	________________________	 	 	 	 	 	SeraCare Life Sciences, Inc. a California corporation
					
	 	 	 	 	 	 	By:	 	 
					
	 	 	 	 	 	 	Name:	 	 
					
	Dated:	 	________________________	 	 	 	 	 	Thomas Lawlor
					
	 	 	 	 	 	 	 	 	 

  

 6

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