Document:

EXHIBIT 10.1

Paul Couchot (SBN 131934)               Thomas E. Patterson, Esq. (SBN 130723)
Peter W. Lianides (SBN 160517)          Martin R. Barash (SBN 162314)
Garrick A. Hollander (SBN 166316)       KLEE, TUCHIN, BOGDANOFF & STERN LLP
WINTHROP COUCHOT                        2121 Avenue of the Stars, 33rd Floor
PROFESSIONAL CORPORATION                Los Angeles, California 90067
660 Newport Center Drive                Telephone (310) 407-4000
Newport Beach, California               Facsimile (310) 407-9090
Telephone:  (949) 720-4100
Facsimile:  (949) 720-4111

Counsel for Debtor and                  Mark I. Bane (MB-4883)
Debtor-in-Possession                    ROPES & GRAY LLP
                                        45 Rockefeller Plaza
                                        New York, New York 10111
                                        Telephone:        (212) 841-5700
                                        Facsimile:        (212) 841-5725

                                        D. Ross Martin (BBO#629853)
                                        ROPES & GRAY LLP
                                        One International Place
                                        Boston, Massachusetts 02110
                                        Telephone:        (617) 951-7000
                                        Facsimile:        (617) 951-7050

                                        Counsel for Ad Hoc Equity Committee

                         UNITED STATES BANKRUPTCY COURT
                         SOUTHERN DISTRICT OF CALIFORNIA

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                                         )
In re                                    )   CASE NO. 06-00510-LA11
                                         )
                                         )   Chapter 11 Proceedings
SERACARE LIFE SCIENCES, INC.,            )
A California Corporation                 )   JOINT PLAN OF REORGANIZATION OF THE
                                         )   DEBTOR AND THE AD HOC EQUITY
                                         )   COMMITTEE
             Debtor and Debtor-in-       )
             Possession                  )   Dept:    2
                                         )   Judge:   Hon. Louise DeCarl Adler
------------------------------------------

                          JOINT PLAN OF REORGANIZATION
                  OF THE DEBTOR AND THE AD HOC EQUITY COMMITTEE
                  ---------------------------------------------
<PAGE>

                                   ARTICLE I.
                                  INTRODUCTION

       Section 1.1.        This Plan of Reorganization, dated as of November 10,
2006 (the "Plan") is proposed by SeraCare Life Sciences, Inc., a California
corporation (the "Debtor") and the Ad Hoc Equity Committee, pursuant to
Bankruptcy Code Section 1121(a).

       Section 1.2.        All holders of Claims against and Interests
in the Debtor are encouraged to read this Plan and the accompanying solicitation
materials in their entirety.

       Section 1.3.        Statements Made Solely by Debtor and Ad Hoc
Committee. All statements in this Plan and the accompanying solicitation
materials concerning the history of the Debtor's business, the Debtor's past or
present financial condition, transactions to which the Debtor was or is party,
or the effect of confirmation of the Plan on secured creditors, unsecured
creditors or equity interest holders are attributable exclusively to the Joint
Plan Proponents and not to any other party.

                                   ARTICLE II.
                       DEFINITIONS; RULES OF CONSTRUCTION

       Section 2.1.        Interpretation, Rules of Construction, Computation of
Time. The provisions of the Plan shall control over any descriptions thereof
contained in the Disclosure Statement.

                  2.1.1.   Any term used in the Plan that is not defined in the
         Plan, either in Section 2.2 or elsewhere, but that is used in the
         Bankruptcy Code or the Bankruptcy Rules, shall have the meaning
         assigned to that term in (and shall be construed in accordance with the
         rules of construction under) the Bankruptcy Code or the Bankruptcy
         Rules. Without limiting the foregoing, the rules of construction set
         forth in section 102 of the Bankruptcy Code shall apply to the Plan,
         unless superseded herein. The definitions and rules of construction
         contained herein do not apply to the Disclosure Statement or to the
         Exhibits to the Plan except to the extent expressly so stated in the
         Disclosure Statement or in each Exhibit to the Plan.

                  2.1.2.   The words "herein," "hereof," "hereto," "hereunder"
         and others of similar import refer to the Plan as a whole and not to
         any particular Article, Section, subsection or clause contained in the
         Plan, unless the context requires otherwise.

                  2.1.3.   Unless specified otherwise in a particular reference,
         all references in the Plan to Articles, Sections and Exhibits are
         references to Articles, Sections and Exhibits of or to the Plan.

                  2.1.4.   Any reference in the Plan to a contract, document,
         instrument, release, bylaw, certificate, indenture or other agreement
         being in a particular form or on particular terms and conditions means
         that such document shall be substantially in such form or substantially
         on such terms and conditions.

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                  2.1.5.   Any reference in the Plan to an existing document or
         Exhibit means such document or Exhibit as it may have been amended,
         restated, modified or supplemented as of the Effective Date.

                  2.1.6.   Whenever from the context it is appropriate, each
         term stated in either the singular or the plural shall include both the
         singular and the plural, and each pronoun stated in the masculine,
         feminine or neuter includes the masculine, feminine and neuter.

                  2.1.7.   In computing any period of time prescribed or allowed
         by the Plan, the provisions of Bankruptcy Rule 9006(a) shall apply.

                  2.1.8.   All Exhibits and Schedules to the Plan are
         incorporated into the Plan, and shall be deemed to be included in the
         Plan, regardless of when filed.

       Section 2.2.        Definitions. In addition to such other terms as are
defined in other Sections of the Plan, the following terms have the following
meanings as used in the Plan:

                  2.2.1.   "Ad Hoc Committee" means the Ad Hoc Equity Committee
         of SeraCare Life Sciences, Inc., whose members are Harbinger Capital
         Partners Master Fund I Ltd., Harbinger Capital Partners Special
         Situations Fund L.P., Black Horse Capital Partners and The Wolfson
         Group.

                  2.2.2.   "Administrative Claim" means a Claim against the
         Debtor entitled to priority under Bankruptcy Code Section 507(a)(1).

                  2.2.3.   "Allowed" means, with respect to Claims, (a) any
         Claim against the Debtor, proof of which is timely filed or by order of
         the Bankruptcy Court is not or will not be required to be filed, (b)
         any Claim against the Debtor that has been or is hereafter listed in
         the Schedules as neither disputed, contingent or unliquidated, (c) any
         Claim against the Debtor allowed pursuant to this Plan; and in the
         cases of (a) and (b) above as to which either (i) no objection to the
         allowance or level of priority or seniority thereof has been interposed
         within the applicable period of time fixed by this Plan, the Bankruptcy
         Code, the Bankruptcy Rules or the Bankruptcy Court and such time period
         or extension thereof has expired, or (ii) such an objection has been so
         interposed and the Claim shall have been allowed by a Final Order (but
         only to the extent so allowed).

                  2.2.4.   "Avoidance Actions" means all causes of action to
         avoid or recover transfers or obligations recognized under Bankruptcy
         Code Sections 502(d), 542, 543, 544, 545, 546, 547, 548, 549, 550, 551
         and 553(b).

                  2.2.5.   "Backstop Commitment Letters" means the Commitment
         Letters dated November 10, 2006 written by the Backstop Purchasers.

                  2.2.6.   "Backstop Purchasers" means Harbinger Capital
         Partners Master Fund I, Ltd., Harbinger Capital Partner Special
         Situations Fund L.P., [Blackhorse Fund], and electing Wolfson Group
         Members.

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<PAGE>

                  2.2.7.   "Ballots" means the ballots upon which holders of
         impaired Claims and Interests entitled to vote on the Plan may indicate
         their acceptance or rejection of the Plan.

                  2.2.8.   "Bank Claims" means all Claims of the administrative
         agent, collateral agent and the lenders under the Revolving/Term Credit
         and Security Agreement dated as of September 14, 2004, as amended and
         in effect.

                  2.2.9.   "Bankruptcy Code" means Title 11 of the United States
         Code, as the same was in effect on the Petition Date, as amended by any
         amendments applicable to the Case.

                  2.2.10.  "Bankruptcy Court" means the United States
         Bankruptcy Court for the Southern District of California, or, to the
         extent that such court ceases to exercise jurisdiction over the Case,
         such other court or adjunct thereof that exercises jurisdiction over
         the Case.

                  2.2.11.  "Bankruptcy Rules" means the Federal Rules of
         Bankruptcy Procedure as in effect on the Petition Date and hereafter
         amended as applicable to the Case.

                  2.2.12.  "Bar Date" means August 1, 2006; provided, however,
         September 22, 2006 for governmental units and October 31, 2006 for
         certain persons listed on the Debtor's First Amendment to its
         Schedules.

                  2.2.13.  "Business Day" means any day other than a Saturday,
         Sunday or any other day on which banking institutions in New York, New
         York are required or authorized to close by law or executive order.

                  2.2.14.  "Case" means the Debtor's above-captioned case under
         the Bankruptcy Code.

                  2.2.15.  "Cash" means cash and cash equivalents, including
         wire transfers, checks, other readily marketable direct obligations of
         the United States of America and other similar items.

                  2.2.16.  "Claims" has the meaning provided in Bankruptcy Code
         Section 101(5).

                  2.2.17.  "Class" means one of the classes of Claims or
         Interests that are substantially similar in nature to each other,
         established under Article IV of this Plan.

                  2.2.18.  "Class Action Class 6B Claim" means Claim No. 300,
         filed by Richard Westlund et al. in the Case.

                  2.2.19.  "Class 5 Disputed Claim Reserve" means, at any time
         an amount of Cash equal to the Cash that would be distributed to all
         holders of Claims in Class 5 that are at such time Disputed Claims, if
         all Claims in Class 5 alleged by such holders were Allowed in full.

                                      -4-
<PAGE>

                  2.2.20.  "Commerce Bank Claims" means the Claims of Commerce
         Bank.

                  2.2.21.  "Common-Stock Interests" means all Interests in the
         Debtor that are not Common-Stock Option Interests.

                  2.2.22.  "Common-Stock Option Interests" means all Interests
         in the Debtor that consist either of an option to purchase common stock
         of the Debtor, or a warrant to obtain common stock of the Debtor.

                  2.2.23.  "Confirmation" means the entry of the Confirmation
         Order.

                  2.2.24.  "Confirmation Date" means the date on which
         Bankruptcy Court enters the Confirmation Order.

                  2.2.25.  "Confirmation Hearing" means the hearing held by the
         Bankruptcy Court to consider Confirmation of this Plan.

                  2.2.26.  "Confirmation Order" means the Bankruptcy Court's
         order confirming this Plan pursuant to Bankruptcy Code Section 1129.

                  2.2.27.  "Cure Claims" has the meaning set forth in Section
         10.2.

                  2.2.28.  "D&O Actions" means, collectively, any causes of
         action that the Debtor or the Estate have, as of the Effective Date,
         against the present and former directors and officers of the Debtor,
         any affiliates of them, former counsel and accountants to the Debtor
         and any committee of its board of directors, any former underwriters of
         securities of the Debtor, and Carolina Casualty Company and including
         the D&O Adversary.

                  2.2.29.  "D&O Adversary" means the adversary proceeding
         relating to Non-Settled D&O Actions, that may be commenced by the Ad
         Hoc Committee following the Confirmation Date and before the Effective
         Date, as contemplated by this Plan.

                  2.2.30.  "Debtor" has the meaning set forth in Section 1.1.

                  2.2.31.  "Designated Derivative Shareholder" means a person
         designated by the Ad Hoc Committee in the Plan Supplement.

                  2.2.32.  "Disallowed" means, with respect to Claims and
         Interests, any Claim against, or Interest in, the Debtor that the
         Bankruptcy Court has disallowed by a Final Order or this Plan.

                  2.2.33.  "Disbursing Agent" means Reorganized SeraCare.

                  2.2.34.  "Disclosure Statement" means the disclosure statement
         used to solicit acceptances and rejections of this Plan.

                                      -5-
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                  2.2.35.  "Disclosure Statement Order" means the order of the
         Bankruptcy Court approving solicitation of votes to accept or reject
         this Plan.

                  2.2.36.  "Disputed" means with respect to Claims and
         Interests, any Claim or Interest that is not Allowed or Disallowed.

                  2.2.37.  "Distribution Record Date" means three business days
         after the Confirmation Date.

                  2.2.38.  "Effective Date" means the first Business Day after
         the conditions set forth in Section 12.2 have been satisfied or waived.

                  2.2.39.  "Electing Class 3 Claimant" means each holder of a
         Class 3 Claim who makes the election contemplated by Section 8.4.3(b).

                  2.2.40.  "Electing D&O" means the present and former directors
         and officers of the Debtor who make the election contemplated by
         Section 8.4.2(b).

                  2.2.41.  "Estate" means the estate created in the Case for the
         Debtor, by operation of Bankruptcy Code Section 541.

                  2.2.42.  "Estate Causes of Action" means all claims and causes
         of action, whether known or unknown, of the Debtor or the Estate, and
         including Avoidance Actions and the D&O Actions, against any Person.

                  2.2.43.  "Estimated" means, with respect to any Claim for
         which a motion to estimate such Claim has been filed, the amount of
         such Claim as estimated, for all purposes including distributions, by
         the Bankruptcy Court by a Final Order (but only to the extent so
         estimated).

                  2.2.44.  "Exculpated D&O" means the current members of the
         Special Committee of Independent Directors of the Debtor, all current
         officers of the Debtor and Cathryn Low and Tom Lawlor.

                  2.2.45.  "Final Order" means an order or judgment of the
         Bankruptcy Court that has not been reversed, stayed, modified or
         amended and as to which the time to appeal or seek review, rehearing,
         reargument or certiorari has expired and as to which no appeal or
         petition for review, rehearing, reargument, stay or certiorari is
         pending, or as to which any right to appeal or to seek certiorari,
         review or rehearing has been waived, or, if an appeal, reargument,
         petition for review, certiorari or rehearing has been sought, the order
         or judgment of the Bankruptcy Court that has been affirmed by the
         highest court to which the order was appealed or from which the
         reargument, review or rehearing was sought, or certiorari has been
         denied, and as to which the time to take any further appeal, or seek
         further reargument, review, certiorari or rehearing has expired.

                  2.2.46.  "510(b) Claims" means all Claims against the Debtor
         that would be of the same priority as Class 7 Interests pursuant to
         Bankruptcy Code Section 510(b), including all Claims asserted by

                                      -6-
<PAGE>

         officers, directors, accountants or underwriters of the Debtor, or by
         Pecks Management or funds or accounts managed by Pecks Management,
         seeking indemnification, reimbursement or contribution from claims
         that, if asserted against the Debtor, would be of the same priority as
         Class 7 Interests pursuant to Bankruptcy Code Section 510(b).

                  2.2.47.  "General Unsecured Claims" means all Claims against
         the Debtor that are not Administrative Claims, Priority Tax Claims,
         Bank Claims, Junior Secured Note Claims, Miscellaneous Secured Claims,
         Commerce Bank Claims, Priority Claims, or 510(b) Claims.

                  2.2.48.  "Governmental 510(b) Claims" means all 510(b) Claims
         of the Securities and Exchange Commission.

                  2.2.49.  "Governmental Investigations" means the
         investigations that have been initiated by the Securities and Exchange
         Commission and the United States Department of Justice regarding the
         Debtor and related persons, any enforcement action or other proceeding
         arising from such investigations, and any other similar investigation
         or proceeding, whether administrative, civil or otherwise, by any
         federal or state governmental entity.

                  2.2.50.  "Initial Reorganized SeraCare Common Stock" means a
         number of shares of Reorganized SeraCare Common Stock equal to the
         number of outstanding and issued shares of common stock of the Debtor
         as of the Distribution Record Date.

                  2.2.51.  "Interests" means "equity security" as that term is
         defined in Bankruptcy Code Section 101(17).

                  2.2.52.  "Joint Plan Proponents" means, collectively, the
         Debtor and the Ad Hoc Committee.

                  2.2.53.  "Junior Notes Agreement" means the Subordinated Note
         Agreement dated as of September 14, 2004 among the Debtor, the
         noteholders named therein and David Barrett Inc. as administrative
         agent for the noteholders, as amended and in effect.

                  2.2.54.  "Junior Secured Note Claims" means all Claims against
         the Debtor under the Junior Notes Agreement.

                  2.2.55.  "Local Bankruptcy Rules" means the Local Rules of the
         Bankruptcy Court.

                  2.2.56.  "Miscellaneous Secured Claim" means a Claim, payment
         of which is secured by any interest of the Debtor in any property, or
         which is entitled to setoff pursuant to Bankruptcy Code Sections 506(a)
         and 553, except Bank Claims, Junior Secured Note Claims and Commerce
         Bank Claims.

                  2.2.57.  "Net Enterprise Value" means the value of the
         Debtor's assets less all liabilities of the Debtor, excluding any
         Claims that would be within Class 6B.

                                      -7-
<PAGE>

                  2.2.58.  "Nongovernmental 510(b) Claims" means all 510(b)
         Claims except the claim of the Securities and Exchange Commission or
         any other governmental unit acting in its regulatory or police-power
         capacities.

                  2.2.59.  "Non-Settled D&O Actions" means all D&O Actions
         except those against the present and former directors and officers of
         the Debtor who elect to participate in the settlement contemplated by
         Section 8.4.2.

                  2.2.60.  "Official Creditors Committee" means the Official
         Committee of Unsecured Creditors appointed in the Case by the United
         States Trustee.

                  2.2.61.  "Petition Date" means March 22, 2006.

                  2.2.62.  "Plan" means this Plan of Reorganization, as it may
         be amended and modified from time to time.

                  2.2.63.  "Plan Documents" means the Reorganized SeraCare
         Charter, the Reorganized SeraCare Bylaws and other corporate governance
         and related documents as may be determined by the Joint Plan Proponents
         to be necessary or desirable in order to effectuate the reorganization
         of the Debtor contemplated by this Plan.

                  2.2.64.  "Plan Objection Deadline" means the date set in the
         Voting Procedures Order for parties to file timely any objections to
         the Plan.

                  2.2.65.  "Plan Rate" means: (a) if a Claim is for taxes, the
         rate provided by Bankruptcy Code Section 511; (b) for any other Claim
         the rate enforceable under applicable bankruptcy and nonbankruptcy law
         (whether contract rate or the federal judgment rate); or (c) any higher
         rate provided by a Final Order of the Bankruptcy Court.

                  2.2.66.  "Plan Supplement" means the supplementary documents
         to be filed by the Joint Plan Proponents not later than 30 days prior
         to the Confirmation Hearing.

                  2.2.67.  "Plan Support Agreement" means the plan support
         agreement, dated November__, 2006, between SeraCare Life Sciences,
         Inc., Harbinger Capital Partners Master Fund I, L.P., Harbinger Capital
         Partners Special Situations Fund L.P., Blackhorse Capital Advisors LLC
         and certain funds and accounts collectively known as The Wolfson Group.

                  2.2.68.  "Post-Petition Interest" means, with respect to any
         Claim, interest at the Plan Rate from the Petition Date to the date of
         payment in respect of such Claim under this Plan, on the Allowed amount
         of such Claim.

                  2.2.69.  "Priority Claims" means all Claims against the Debtor
         accorded priority in right of payment under Bankruptcy Code Section
         507(a), other than Administrative Claims, DIP Financing Claims and
         Priority Tax Claims.

                                      -8-
<PAGE>

                  2.2.70.  "Priority Tax Claims" means all Claims against the
         Debtor for taxes and interest entitled to priority pursuant to
         Bankruptcy Code Section 507(a)(8).

                  2.2.71.  "Professionals" means those Persons: (a) employed
         pursuant to Bankruptcy Court order in accordance with Bankruptcy Code
         Sections 327, 328 or 1103; or (b) for which the Bankruptcy Court has
         allowed compensation and reimbursement pursuant to Bankruptcy Code
         Sections 503(b)(2), (3) or (4).

                  2.2.72.  "Pro Rata Share" means, as of the date of calculation
         and with respect to an Allowed Claim or Interest in a particular Class,
         a percentage equal to (a) the amount of the holder's Allowed Claim (or
         the amount of shares of an Interest held by such Holder) divided by (b)
         the total amount of Allowed and Disputed Claims (or total amount of
         Interests) of such Class.

                  2.2.73.  "Reorganized SeraCare" means SeraCare Reorganization
         Company, Inc., a Delaware corporation.

                  2.2.74.  "Reorganized SeraCare Bylaws" means the Amended and
         Restated Bylaws of Reorganized SeraCare in substantially the form set
         forth in the Plan Supplement.

                  2.2.75.  "Reorganized SeraCare Charter" means the Amended and
         Restated Certificate of Incorporation of Reorganized SeraCare, in
         substantially the form set forth in the Plan Supplement.

                  2.2.76.  "Reorganized SeraCare Common Stock" means common
         stock issued pursuant to the Reorganized SeraCare Charter.

                  2.2.77.  "Rights Offering" means the financing contemplated by
         Article IX.

                  2.2.78.  "Rights Offering Agent" means Financial Balloting
         Group LLC.

                  2.2.79.  "Rights Offering Price" means $4.75/share.

                  2.2.80.  "Rights Offering Record Date" means the Voting Record
         Date.

                  2.2.81.  "Rights Offering Shares" means 4,250,000 shares of
         common stock of Reorganized SeraCare.

                  2.2.82.  "Rights Offering Trust Account" means the trust
         account or similarly segregated account or accounts maintained by the
         Rights Offering Agent in accordance with Section 9.4 of this Plan,
         which shall be separate and apart from the Rights Offering Agent's
         general operating funds and/or any other funds subject to any lien or
         any cash collateral arrangements.

                  2.2.83.  "Schedules" means the schedules of assets and
         liabilities that the Debtor has filed in the Case, including any
         amendments and supplements thereto.

                                      -9-
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                  2.2.84.  "Securities Class Action" means the action styled In
         re SeraCare Life Sciences Inc. Securities Litigation, S.D. Cal. No.
         05-CV-2335.

                  2.2.85.  "Subscription Expiration Date" means Voting Deadline.

                  2.2.86.  "Subscription Form" means the ballot for holders of
         Class 7 Interests, which includes provisions for each such holder to
         elect to participate in the Rights Offering.

                  2.2.87.  "Subscription Purchase Price" means the Rights
         Offering Price multiplied by the number of Rights Offering Shares a
         holder seeks to purchase.

                  2.2.88.  "Subscription Rights" means the right to subscribe
         for shares as set forth in Article IX.

                  2.2.89.  "Voting Deadline" means the date set in the Voting
         Procedures Order for parties to file timely any objections to the Plan.

                  2.2.90.  "Voting Record Date" means the date set by the
         Bankruptcy Court in the Disclosure Statement Order as the record date
         for holders of claims and interests to be considered holders for
         purposes of voting to accept or reject this Plan.

                                  ARTICLE III.
                       METHOD OF CLASSIFICATION OF CLAIMS
                      AND INTERESTS AND GENERAL PROVISIONS

       Section 3.1.        General Rules of Classification. Generally, a Claim
or Interest is classified in a particular Class for voting and distribution
purposes only to the extent the Claim or Interest qualifies within the
description of that Class, and is classified in another Class to the extent that
the Claim or Interest qualifies within the description of such other Class.
Unless otherwise provided, to the extent a Claim qualifies for inclusion in a
more specifically defined Class and a more generally defined Class, it shall be
included in the more specifically defined Class. A Claim or Interest is
classified in a particular Class regardless of whether the Claim or Interest is
an Allowed Claim or Interest in that Class, or only asserted as such, but only
to the extent that it has not been paid, released or otherwise satisfied before
the Effective Date.

       Section 3.2.        Administrative Claims and Priority Tax Claims.
Administrative Claims and Priority Tax Claims have not been classified and are
excluded from the Classes set forth in Article IV in accordance with Bankruptcy
Code Section 1123(a)(1). Priority Claims are classified in Class 1.

       Section 3.3.        Satisfaction of Claims and Interests. The treatment
to be provided for Allowed Claims and Interests pursuant to this Plan and the
consideration provided therefor herein shall be in full satisfaction, settlement
and release of such Claims and Interests.

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                                  ARTICLE IV.
                  CLASSIFICATION OF OTHER CLAIMS AND INTERESTS

       Section 4.1.        All Claims and Interests, except Administrative
Claims and Priority Tax Claims, are placed in the following Classes for the
Debtor.

                  4.1.1.   Class 1 shall consist of all Priority Claims.

                  4.1.2.   Class 2 shall consist of all Bank Claims.

                  4.1.3.   Class 3 shall consist of Junior Secured Note Claims.

                  4.1.4.   Class 4 shall consist of Miscellaneous Secured
         Claims.

                  4.1.5.   Class 4A shall consist of Commerce Bank Claims.

                  4.1.6.   Class 5 shall consist of General Unsecured Claims.

                  4.1.7.   Class 6A shall consist of Governmental 510(b) Claims.

                  4.1.8.   Class 6B shall consist of Nongovernmental 510(b)
         Claims.

                  4.1.9.   Class 7 shall consist of Common-Stock Interests.

                  4.1.10.  Class 8 shall consist of Common-Stock Option
         Interests.

                                   ARTICLE V.
                     IDENTIFICATION OF CLASSES OF CLAIMS AND
                 INTERESTS IMPAIRED AND UNIMPAIRED BY THIS PLAN

       Section 5.1.        Classes of Claims and Interests impaired by this Plan
and Entitled to Vote. Unless otherwise ordered by the Bankruptcy Court
Common-Stock Interests (Class 7) are impaired by this Plan and the holders
thereof are entitled to vote to accept or reject the Plan.

       Section 5.2.        Unimpaired Classes Conclusively Deemed to Accept this
Plan. Unless otherwise ordered by the Bankruptcy Court, Priority Claims (Class
1), Bank Claims (Class 2), Junior Secured Note Claims (Class 3), Miscellaneous
Secured Claims (Class 4), Commerce Bank Claims (Class 4A), General Unsecured
Claims (Class 5), Governmental 510(b) Claims (Class 6A) and Common-Stock Option
Interests (Class 8) are unimpaired by this Plan. Pursuant to Bankruptcy Code
Section 1126(f), the holders of such Claims and Interests are unimpaired and are
conclusively presumed to accept this Plan, and the votes of such holders are not
being solicited.

       Section 5.3.        Impairment Status of Class 6B. Nongovernmental 510(b)
Claims (Class 6B) shall be treated as unimpaired if the Estimated amount of the
Class Action Class 6B Claim is paid in Cash, and shall otherwise be treated as
impaired. Holders of Class 6B Claims shall provisionally vote on the Plan, and
their votes shall be determined if an election is made to provide holders of
Class 6B Claims with equity securities instead of Cash.

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<PAGE>

       Section 5.4.        Confirmation Pursuant to Bankruptcy Code Section
1129(b). The Joint Plan Proponents intend to request that the Bankruptcy Court
confirm this Plan in accordance with Bankruptcy Code Section 1129(b) if any
Class entitled to vote rejects the Plan.

                                  ARTICLE VI.
           TREATMENT OF ADMINISTRATIVE CLAIMS AND PRIORITY TAX CLAIMS

       Section 6.1.        Treatment of Allowed General Administrative Claims.
Unless otherwise provided for herein, Allowed Administrative Claims shall be
paid in full in Cash, and each holder of an Allowed Administrative Claim
(including all compensation and reimbursement of expenses of Professionals
pursuant to Bankruptcy Code Sections 327, 328, 329, 330, 331, 503(b)(1),
503(b)(4) or 1103) shall be paid by the Debtor 100% of the Allowed amount of
such Administrative Claim in Cash on or as soon as reasonably practicable after
the later of: (a) the Effective Date; and (b) the date such Administrative Claim
becomes Allowed; provided, however, that an Allowed Administrative Claim
representing obligations incurred in the ordinary course of business shall be
paid in accordance with its terms and conditions consistent with past practice;
and, provided, further, that an Allowed Administrative Claim may be paid on such
other terms and conditions as are agreed to between Reorganized SeraCare and the
holder of such Allowed Administrative Claim.

       Section 6.2.        Treatment of Allowed Priority Tax Claims. Allowed
Priority Tax Claims shall be assumed by Reorganized SeraCare and each holder of
an Allowed Priority Tax Claim shall be paid by Reorganized SeraCare Cash equal
to the Allowed amount of such Claim plus Post-Petition Interest, on or as soon
as reasonably practicable after the later of (a) the Effective Date and (b) the
date such Claim becomes an Allowed Priority Tax Claim.

                                  ARTICLE VII.
                     TREATMENT OF OTHER CLAIMS AND INTERESTS

       Section 7.1.        Treatment of Allowed Priority Claims (Class 1).
                           ----------------------------------------------

                  7.1.1.   Unless otherwise agreed to by the holder of an
         Allowed Priority Claim and Reorganized SeraCare, Reorganized SeraCare
         shall assume each Allowed Priority Claim and each holder of an Allowed
         Priority Claim shall be paid by Reorganized SeraCare Cash equal to the
         Allowed amount of such Claim plus Post-Petition Interest, on or as soon
         as reasonably practicable after the later of (a) the Effective Date;
         (b) the date such Claim becomes an Allowed Priority Claim; and (c) the
         date that such Claim would be paid in accordance with any terms and
         conditions of any agreements or understanding relating thereto between
         the Debtor and the holder of such Claim that provides for treatment
         less favorable to the holder of such Allowed Claim than otherwise
         provided herein.

                  7.1.2.   Class 1 is being treated as unimpaired and the
         holders of Claims in Class 1 shall be deemed to accept the Plan.

       Section 7.2.        Treatment of Bank Claims (Class 2).
                           ----------------------------------

                                      -12-
<PAGE>

                  7.2.1.   Each Allowed Bank Claim shall be paid in full in Cash
         the Allowed amount of Claim on the Effective Date.

                  7.2.2.   Class 2 is being treated as unimpaired and the
         holders of Claims in Class 2 shall be deemed to accept the Plan.

       Section 7.3.        Treatment of Junior Secured Note Claims (Class 3).
                           ------------------------------------------------

                  7.3.1.   Each Allowed Junior Secured Note Claim shall be paid
         in full in Cash the Allowed amount of such Claim, subject to all
         defenses, setoffs and counterclaims that the Debtor and the Estate have
         with respect to such Claim and against the holder of such Claim, as
         soon as reasonably practical after the later of (a) the Effective Date
         and (b) the date on which such Claim becomes an Allowed Claim; provided
         that such treatment of each holder shall also be subject to any
         election that such holder makes under Section 8.4.3.

                  7.3.2.   Class 3 is being treated as unimpaired and the
         holders of Claims in Class 3 shall be deemed to accept the Plan.

       Section 7.4.        Treatment of Miscellaneous Secured Claims (Class 4).
                           --------------------------------------------------

                  7.4.1.   Each Miscellaneous Secured Claim shall have all
         obligations in respect of such Claim assumed by Reorganized SeraCare,
         subject to all defenses, setoffs and counterclaims that the Debtor and
         the Estate have with respect to such Claim and against the holder of
         such Claim. The acceleration of any Miscellaneous Secured Claim shall
         be deemed rescinded as of the Effective Date, pursuant to Bankruptcy
         Code Section 1124(2).

                  7.4.2.   Class 4 is being treated as unimpaired under the
         Plan. Holders of Claims in Class 4 shall be deemed to accept the Plan.

       Section 7.5.        Treatment of Commerce Bank Claim (Class 4A).
                           -------------------------------------------

                  7.5.1  . Each Commerce Bank Claim shall have all obligations
         in respect of such Claim assumed by Reorganized SeraCare. The
         acceleration of any Commerce Bank Claim shall be deemed rescinded as of
         the Effective Date, pursuant to Bankruptcy Code Section 1124(2).

                  7.5.2.   Class 4A is being treated as unimpaired under the
         Plan. Holders of Claims in Class 4A shall be deemed to accept the Plan.

       Section 7.6.        Treatment of General Unsecured Claims (Class 5).
                           ----------------------------------------------

                  7.6.1.   Unless otherwise agreed to by the holder of an
         Allowed General Unsecured Claim and the Joint Plan Proponents (or
         Reorganized SeraCare after the Effective Date), each holder of an
         Allowed General Unsecured Claim shall be paid by Reorganized SeraCare
         Cash equal to the Allowed amount of such Claim plus Post-Petition
         Interest, on or as soon as reasonably practicable after the later of
         (a) the Effective Date; and (b) the date such Claim becomes an Allowed
         General Unsecured Claim.

                                      -13-
<PAGE>

                  7.6.2.   Class 5 is being treated as unimpaired under the
         Plan. Holders of Claims in Class 5 shall be deemed to accept the Plan.

       Section 7.7.        Treatment of Governmental 510(b) Claims (Class 6A).
                           -------------------------------------------------

                  7.7.1.   Each holder of an Allowed Governmental 510(b) Claim
         shall be paid by Reorganized SeraCare Cash equal to the Allowed
         amount of such Claim, on or as soon as reasonably practicable after
         the later of (a) the Effective Date and (b) the date such Claim
         becomes an Allowed Governmental 510(b) Claim.

                  7.7.2.   Class 6A is being treated as unimpaired under the
         Plan. Holders of Claims in Class 6A shall be deemed to accept the
         Plan.

       Section 7.8.        Treatment of Nongovernmental 510(b) Claims
                           (Class 6B).

                  7.8.1.   Each holder of an Allowed or Estimated 510(b) Claim
         shall either: (a) be paid in full in Cash the Allowed or Estimated
         amount of such Claim; or, (b) if the Joint Plan Proponents elect, as
         alternative treatment for all Class 6B holders, receive Initial
         Reorganized SeraCare Common Stock of a value equal to the product of:
         (i) the Allowed or Estimated amount of such Claim divided by (ii) the
         sum of (A) the total Estimated and Allowed amounts of all Class 6B
         Claims plus the Net Enterprise Value of the Debtor, as of the
         Confirmation Date.

                  7.8.2.   Class 6B is being treated as (a) unimpaired under the
         Plan unless the election is made to distribute stock to the Class 6B
         Claims and (b) impaired in any other case. Holders of Claims in Class
         6B shall be deemed to accept the Plan if such Class is unimpaired.

       Section 7.9.        Treatment of Common-Stock Interests (Class 7).
                           --------------------------------------------

                  7.9.1.   Each holder of an Allowed Common-Stock Interest shall
         receive, for each share of common stock of the Debtor:

                           (a)      if the election is made to pay Class 6B
                  Claims in Cash, (i) one share of the Initial Reorganized
                  SeraCare Common Stock and (ii) its Pro Rata Share of the
                  Subscription Rights; or

                           (b)      in any other circumstance, (i) its Pro Rata
                  Share of all Initial Reorganized SeraCare Common Stock that is
                  not otherwise distributed to Class 6B and (ii) its Pro Rata
                  Share of the Subscription Rights.

                  7.9.2.   Class 7 is being treated as impaired under the Plan.
         Holders of Claims in Class 7 shall be entitled to vote to accept or
         reject the Plan.

       Section 7.10.       Treatment of Common-Stock Option Interests (Class 8).
                           ----------------------------------------------------

                                      -14-
<PAGE>

                  7.10.1.  On the Effective Date, all Common-Stock Option
         Interests shall be exchanged, as permitted by the terms of the relevant
         option agreements and option plans, for corresponding options of
         Reorganized SeraCare.

                  7.10.2.  Class 8 is being treated as unimpaired under the
         Plan. Holders of Claims in Class 8 shall be deemed to accept the Plan.

                                 ARTICLE VIII.
                      MEANS FOR IMPLEMENTATION OF THE PLAN

       Section 8.1.        Reorganized SeraCare.  On the Effective Date, the
following events shall occur:

                  8.1.1.   The Debtor shall be merged into Reorganized SeraCare,
         and Reorganized SeraCare shall change its name to SeraCare
         LifeSciences, Inc., all as contemplated by Section 8.2.

                  8.1.2.   The Rights Offering contemplated by Article IX shall
         be consummated.

       Section 8.2.        Merger and Reorganized SeraCare.
                           -------------------------------

                  8.2.1.   Reorganized SeraCare shall file the Reorganized
         SeraCare Charter and a certificate of merger with the Delaware
         Secretary of State, and the Debtor shall file a certificate of merger
         with the California Secretary of State. The Debtor shall thereupon be
         deemed to be Reorganized SeraCare. Reorganized SeraCare shall be deemed
         to have adopted the Reorganized SeraCare Bylaws. The directors and
         officers of the Debtor shall be deemed to have resigned as of the
         Effective Date, and the persons to be the directors and officers of
         Reorganized SeraCare shall be:

                           Directors:     Gene Davis

                                          Harbinger Designee acceptable to
                                          Debtor, identified in Plan Supplement

                                          Blackhorse Designee acceptable to
                                          Debtor, identified in Plan Supplement

                                          Current member of board and/or
                                          designee of CEO, identified in Plan
                                          Supplement

                                          Susan Vogt

                           Officers:      Susan Vogt     (President and Chief
                                                          Executive Officer)

                                          Gregory Gould  (Treasurer and Chief
                                                          Financial Officer)

                                          Gregory Gould  (Secretary).

                                      -15-
<PAGE>

                  8.2.2.   Reorganized SeraCare Common-stock shall be issued in
         book-entry form via The Depository Trust Company. Beneficial holders
         recognized as holders of Common-Stock Interests hereunder shall receive
         their distributions via book-entry and the indirect-holding system.

       Section 8.3.        Registration Rights.
                           -------------------

                  8.3.1.   From and after the Effective Date, Reorganized
         SeraCare shall as promptly as possible file and use best efforts to (i)
         register all of the Reorganized SeraCare Common Stock issued to the
         Backstop Purchasers (except such shares that are exempt from
         registration pursuant to Bankruptcy Code Section 1145) for resale, in
         accordance with the requirements of the Securities Act of 1933, (ii)
         register the Reorganized SeraCare Common Stock pursuant to Section
         12(g) of the Securities Exchange Act of 1934 and (iii) obtain listing
         of the Reorganized SeraCare Common Stock on the NASDAQ or NYSE
         exchanges. Each of the Backstop Purchasers shall also have two demand
         registration rights and unlimited piggyback registration rights.
         Reorganized SeraCare shall be required to comply with customary
         registration procedures and shall provide customary indemnification to
         selling stockholders.

                  8.3.2.   The Company shall pay for all costs of all such
         registrations, including filing fees and the costs of preparing all
         registration statements and fees and expenses of selling shareholders
         (but not including underwriters' discounts or commissions, or transfer
         taxes). Any cutbacks shall be pro rata among the Company and all
         shareholders invoking registration rights.

       Section 8.4.        Settlements.
                           -----------

                  8.4.1.   Post-Petition Exculpation. As of the Effective Date,
         the Debtor and its Estate, the Creditors Committee and its members, the
         Ad Hoc Committee and its members, and the Exculpated D&O shall be
         deemed to have released each other from all claims and causes of action
         solely with respect to events after the Petition Date, whether known or
         unknown, relating in any way to the Debtor and/or its Estate.

                  8.4.2.   Election for D&O to Settle Claims Relating to Debtor.

                           (a)      Each present or former director and officer
                  of the Debtor may elect, prior to the 10th day after entry of
                  the Disclosure Statement Order, to settle all disputes between
                  that person and the Debtor and the Estate, on the terms set
                  forth in this Section 8.4.2.

                           (b)      Such election shall be made by a signed
                  writing reasonably acceptable to the Joint Plan Proponents
                  (including a representation that no claims or interests of
                  such person have been transferred since the Petition Date),
                  and must also include a vote by such person to accept this
                  Plan with all interests that such person has in Class 7 and a
                  certification that such person has not and will not object,
                  and has not and will not assist any other person in objecting,
                  to this Plan, or to any other plan of which the Ad Hoc
                  Committee is a proponent or co-proponent so long as such plan
                  includes the settlement set forth in this Section 8.4.2.

                                      -16-
<PAGE>

                           (c)      As of the Effective Date, (i) all Electing
                  D&O shall be deemed to have released the Debtor and all other
                  Electing D&O of all claims, except any Class 3 Claims,
                  including any claims for fees, indemnification, reimbursement,
                  contribution, salary, bonus or severance, known or unknown,
                  based on any claim or cause of action, known or unknown, that
                  arose before the Petition Date, including the Governmental
                  Investigations, the Securities Class Action and any
                  allegations of breach of fiduciary duty and (ii) the Debtor
                  and its Estate shall be deemed to have released the Electing
                  D&O from all Estate Causes of Action against the Electing D&O,
                  through the Effective Date.

                  8.4.3.   Election for Class 3 Holders.
                           ----------------------------

                           (a)      Each holder of a Class 3 Claims may elect,
                  prior to the 10th day after entry of the Disclosure Statement
                  Order, to settle all disputes between that person and the
                  Debtor and the Estate, on the terms set forth in this Section
                  8.4.3.

                           (b)      Such election shall be made by a signed
                  writing reasonably acceptable to the Joint Plan Proponents
                  (including a representation that no claims or interests of
                  such person have been transferred since the Petition Date, and
                  the binding agreement with respect to any claims asserted by
                  any agent of such holder), and must also include a vote by
                  such person to accept this Plan with all claims in Class 3 and
                  interests that such person has in Class 7 and a certification
                  that such person has not and will not object, and has not and
                  will not assist any other person in objecting, to this Plan,
                  or to any other plan of which the Ad Hoc Committee is a
                  proponent or co-proponent so long as such plan includes the
                  settlement set forth in this Section 8.4.3.

                           (c)      As of the Effective Date, (i) all Electing
                  Class 3 Claimants shall be deemed to have released the Debtor
                  of all claims, except any Class 3 Claims, including any claims
                  for fees, indemnification, reimbursement, contribution,
                  salary, bonus or severance, known or unknown, based on any
                  claim or cause of action, known or unknown, that arose before
                  the Petition Date, including the Governmental Investigations,
                  the Securities Class Action and any allegations of breach of
                  fiduciary duty, (ii) all Electing Class 3 Claimants shall be
                  deemed to waive any portion of their Class 3 Claim that
                  constitutes prepayment premium and/or default interest, (iii)
                  all Electing Class 3 Claimants shall be deemed to consent to
                  any modification of the Joint Plan that does not change the
                  treatment of Class 3 except for providing that the payment of
                  the Allowed amount of the Claim shall occur on the 15th day
                  after the Effective Date, (iv) the Debtor and its Estate shall
                  be deemed to have released all objections and setoffs to the
                  Class 3 Claim of such holder and (v) such holder's Class 3
                  Claim shall be allowed for all purposes, and such holder shall
                  therefore be paid Cash in the Allowed amount of such Claim on
                  or as soon as practicable after the Effective Date (or 15 days
                  thereafter, if the Joint Plan is modified as contemplated by
                  clause (iv)).

                                      -17-
<PAGE>

                  8.4.4.   Global Release Including Unknown Claims. Except as to
         the consensual releases among the Electing D&O, the releases contained
         in Sections 8.4.2 and 8.4.3 shall not be construed release of any
         claims or causes of action that any non-Debtor party has against any
         person other than the Debtor. In granting the releases set forth in
         Sections 8.4.2 and 8.4.3, the parties expressly waive any rights or
         benefits available to them under the provisions of California Civil
         Code Section 1542, which provides as follows:

                           A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE
                           RELEASING PARTY 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 OTHER PARTY.

                  The parties to the releases in this Plan shall be deemed to
                  understand and acknowledge (and any election will confirm)
                  that the statutory language of Section 1542 of the California
                  Civil Code may apply to their respective releases as set forth
                  in this Plan, but nonetheless elect to waive any rights which
                  they may have under said Civil Code Section. Any election, and
                  this Plan, shall be deemed executed voluntarily by the parties
                  thereto with full knowledge of their significance and legal
                  effect.

                  8.4.5.   Continuation of Litigation Against Non-Settling D&O
                  and Certain Other Parties.

                           (a)      On and after the Confirmation Date, and
                  until the Effective Date, the Ad Hoc Committee shall be
                  designated as estate representative under Bankruptcy Code
                  Section 1123, with authority to commence, prosecute and
                  compromise any of the Non-Settled D&O Actions; provided,
                  however, that the Ad Hoc Committee shall have no obligation to
                  commence any such actions.

                           (b)      On the Effective Date, the Designated
                  Derivative Shareholder shall be designated as estate
                  representative under Bankruptcy Code Section 1123, with
                  authority to commence, prosecute and compromise the
                  Non-Settled D&O Actions. No person other than the Designated
                  Derivative Shareholder shall have any standing to prosecute
                  any of the Non-Settled D&O Actions. All Non-Settled D&O
                  Actions are hereby deemed to be derivative actions.

                           (c)      Any recovery in the Non-Settled D&O Actions
                  (less all collection costs including fees of counsel
                  (including contingency fees, if any)) shall be turned over to
                  Reorganized SeraCare.

                           (d)      The Designated Derivative Shareholder shall
                  select counsel to pursue the Non-Settled D&O Actions, and more
                  than one such counsel may be selected. Counsel selected shall
                  be paid on a contingency basis not to exceed payment of 33% of
                  any recovery plus all out-of-pocket expenditures; provided,

                                      -18-
<PAGE>

                  however, that the Designated Derivative Shareholder shall be
                  empowered to negotiate a lower fee. Counsel selected shall
                  either be: (i) one or more of the counsel who originally filed
                  derivative actions against the directors and officers of the
                  Debtor and/or (ii) other counsel approved after motion field
                  by the Designated Derivative Shareholder with the Bankruptcy
                  Court, with notice to all parties having filed notices of
                  appearance in the Case prior to the Effective Date.

                           (e)      The Ad Hoc Committee (acting pursuant to
                  clause (a)) and the Designated Derivative Shareholder shall
                  not be liable for any action or inaction on their part
                  relating to any of the Non-Settled D&O Actions, except in the
                  case of gross negligence or bad faith.

       Section 8.5.        Recognition of Beneficial Ownership of Shares. Except
as expressly provided herein, for all purposes under this Plan, holders of the
ultimate beneficial interest in Common-Stock Interests of the Debtor shall be
treated as the holders of such Interests.

       Section 8.6.        Revesting of Assets. All transfers between any of the
Debtor, the Estate and Reorganized SeraCare shall be free and clear of all
liens, claims, encumbrances and interests and the assets of the Estate shall be
deemed to vest or revest in Reorganized SeraCare, as appropriate, free and clear
of all liens, claims, encumbrances and interests of all Persons.

       Section 8.7.        Substantial Consummation of Plan. This Plan shall be
deemed substantially consummated pursuant to Bankruptcy Code Section 1101(2)
upon the occurrence of all of the matters set forth in Sections 8.2-8.7. At such
time, the Joint Plan Proponents shall declare the Effective Date to have
occurred, and shall file with the Court, in the Case, a notice of such
occurrence.

       Section 8.8.        Retention of Causes of Action. Pursuant to Bankruptcy
Code Section 1123(b)(3)(B), as of the Effective Date all causes of action of the
Debtor and its Estate against any Person (excluding causes of action released by
this Plan), shall vest in Reorganized SeraCare except for the Non-Settled D&O
Actions, which are vested in the Designated Derivative Shareholder.

       Section 8.9.        Exemption from Securities Registration. All of the
Reorganized SeraCare Common Stock, except such stock that is issued to the
Backstop Purchasers other than in respect of their Common-Stock Interests, shall
be exempt from registration as provided by Section 1145 of the Bankruptcy Code,
unless the holder is an underwriter as defined in Section 1145.

       Section 8.10.       Exemption from Certain Transfer Taxes. Pursuant to,
and to the fullest extent permitted by, Bankruptcy Code Section 1146(c): (i) the
issuance, transfer or exchange of any securities, instruments or documents; (ii)
the creation of any other lien, mortgage, deed of trust or other security
interest; or (iii) the making or assignment of any lease or the making or
delivery of any deed or other instrument of transfer under, pursuant to, in
furtherance of or in connection with, this Plan, including any deeds, bills of
sale or assignments executed in connection with this Plan or the Confirmation
Order shall not be subject to any stamp tax, transfer tax, intangible tax,
recording fee, or similar tax, charge or expense.

                                      -19-
<PAGE>

       Section 8.11.       Implementation and Carrying Out the Plan. The Debtor,
Reorganized SeraCare, and the Designated Derivative Shareholder are hereby
authorized and directed to take all reasonably necessary or reasonably desirable
steps, including any steps requested by the Joint Plan Proponents, to execute
any documents and perform all reasonably necessary or reasonably desirable acts,
to consummate the terms and conditions of this Plan on the Effective Date. On or
before the Voting Record Date, the Joint Plan Proponents may file with the
Bankruptcy Court such agreements and other documents as may be reasonably
necessary or reasonably desirable to effectuate or further evidence the terms
and conditions of this Plan and the Plan Documents. Pursuant to Delaware General
Corporation Law Section 303 and California Corporation Code Section 1400, all
terms of and actions contemplated by this Plan, and all transactions
contemplated thereby, may be put into effect and carried out without the
directors, officers or shareholders of the Debtor or Reorganized SeraCare taking
any further action.

       Section 8.12.       Plan as Compromise and Settlement. This Plan is a
compromise and settlement of various claims and disputes in and relating to the
Case, and is being approved and authorized pursuant to Bankruptcy Rule 9019.

                                  ARTICLE IX.
                               THE RIGHTS OFFERING

       Section 9.1.        Issuance of Subscription Rights. Each holder of a
Common-Stock Interest that was a holder as of the Rights Offering Record Date
shall receive Subscription Rights entitling such holder to purchase its Pro Rata
Share, out of all outstanding and issued Common-Stock Interests as of the Rights
Offering Record Date, of 4,250,000 shares of Reorganized SeraCare Common Stock.
All Reorganized SeraCare Common Stock issued pursuant to the Rights Offering
shall be issued on the Effective Date or as soon thereafter as is practicable.
Holders of Common-Stock Interests, as of the Rights Offering Record Date, shall
have the right, but not the obligation, to participate in the Rights Offering as
provided herein.

       Section 9.2.        Subscription Period. The Rights Offering shall
commence as of the Solicitation Date. Each holder of a Common-Stock Interest
intending to participate in the Rights Offering must affirmatively elect to
exercise its Subscription Rights on or prior to the Subscription Expiration
Date. Valid elections to participate in the Rights Offering shall be
irrevocable. A holder of Common-Stock Interests may elect to participate in the
Rights Offering with respect to all or any portion of such holder's Common-Stock
Interests. After the Subscription Expiration Date, unexercised Subscription
Rights with respect to the Rights Offering shall be treated as shares to be
purchased by the Backstop Purchasers pursuant to the Backstop Commitment
Letters, and any exercise of such Subscription Rights shall be null and void and
any such purported exercise received by the Rights Offering Agent after the
Subscription Expiration Date shall not be honored, regardless of when the
documents relating to such exercise were sent. The Backstop Purchasers have
agreed to participate in the Rights Offering with respect to all Common-Stock
Interests held by them as of the Rights Offering Record Date.

       Section 9.3.        Subscription Purchase Price. Each holder of a
Subscription Right shall be required to pay, on or prior to the Subscription
Expiration Date, the Subscription Purchase Price.

                                      -20-
<PAGE>

       Section 9.4.        Exercise of Subscription Rights.
                           -------------------------------

                           (a)      In order to exercise Subscription Rights,
                  each holder of a Common-Stock Interest must: (a) be a holder
                  of such Common-Stock Interest as of the Rights Offering Record
                  Date, (b) return a duly completed Subscription Form to the
                  Rights Offering Agent or, in the case of Common-Stock
                  Interests held through a bank or brokerage firm, arrange for
                  such firm to affect their subscription through DTC, so that
                  such form or DTC instruction is actually received by the
                  Rights Offering Agent on or before the Subscription Expiration
                  Date and (c) pay to the Rights Offering Agent on or before the
                  Subscription

                  Expiration Date, or by DTC to the Rights Offering Agent, such
                  holder's Subscription Purchase Price multiplied by the number
                  of Rights Offering Shares it seeks to purchase in accordance
                  with the wire instructions set forth on the Subscription Form
                  or by bank or cashier's check delivered to the Rights Offering
                  Agent together with the Subscription Form. The payments made
                  in accordance with the Rights Offering shall be deposited and
                  held by the Rights Offering Agent in the Rights Offering Trust
                  Account until the Effective Date or such other later date, at
                  the option of Reorganized SeraCare. The Rights Offering Trust
                  Account will be maintained by the Rights Offering Agent for
                  the purpose of holding the money for administration of the
                  Rights Offering. The Rights Offering Agent shall not use such
                  funds for any other purpose and shall not encumber or permit
                  such funds to be encumbered with any lien or similar
                  encumbrance.

                           (b)      If the Rights Offering Agent for any reason
                  does not receive from a holder of Subscription Rights (or DTC)
                  both a duly completed Subscription Form or equivalent
                  instructions from DTC on or prior to the Subscription
                  Expiration Date, and immediately available funds in an amount
                  equal to such holder's Subscription Purchase Price on or prior
                  to the Subscription Expiration Date, or payment by DTC, such
                  holder shall be deemed to have relinquished and waived its
                  right to participate in the Rights Offering. Each holder of a
                  Common-Stock Interest as of the Rights Offering Record Date
                  intending to participate in the Rights Offering must
                  affirmatively elect to exercise its Subscription Right(s) on
                  or prior to the Subscription Expiration Date.

                           (c)      The Joint Plan Proponents may adopt such
                  additional detailed procedures consistent with the provisions
                  of this Article IX to more efficiently administer the exercise
                  of the Subscription Rights.

                           (d)      All questions concerning the timeliness,
                  viability, form and eligibility of any exercise of
                  Subscription Rights shall be determined by the Bankruptcy
                  Court.

       Section 9.5.        Transfer Restriction; Revocation. The Subscription
Rights are not transferable. Any such transfer or attempted transfer is null and
void. Once the holder of a Common-Stock Interest has properly exercised its
Subscription Rights, such exercise will not be permitted to be revoked.

                                      -21-
<PAGE>

       Section 9.6.        No Interest. No interest shall be paid to entities
exercising Subscription Rights on account of amounts paid in connection with
such exercise.

                                   ARTICLE X.
              TREATMENT OF EXECUTORY CONTRACTS AND UNEXPIRED LEASES

       Section 10.1.       Assumption and Rejection of Executory Contracts and
Unexpired Leases. On the Effective Date, all executory contracts and unexpired
leases to which the Debtor is party, and that have not previously been rejected,
shall be deemed assumed by Reorganized SeraCare; provided, however, that all
prepetition indemnification agreements and obligations shall be deemed rejected
as of the Effective Date.

       Section 10.2.       Cure Claims. The Disclosure Statement Order shall
have provided that counterparties to executory contracts and unexpired leases
(and other who may have rights) must, not later that the Confirmation Objection
Deadline, assert claims for the curing of defaults that must be paid in
accordance with Bankruptcy Code Section 365 ("Cure Claims"), by filing such
claim in a pleading in the Case. Any Person who has not timely filed a Cure
Claim with respect to a particular executory contract or unexpired lease shall
have no Cure Claim with respect to such executory contract or unexpired lease.
Objections to Cure Claims may be filed by the Ad Hoc Committee, the Debtor or
Reorganized SeraCare, and may be filed at any time up to the 30th day after the
Effective Date. The Bankruptcy Court shall determine any disputes over Cure
Claims.

       Section 10.3.       Cure Amounts. Any Cure Claim with respect to
executory contracts or unexpired leases being assumed under Section 10.1 shall
be made on the later of (i) the Effective Date or (ii) the date on which the
amount of any Cure Claim that has been timely objected to has been determined by
the Bankruptcy Court pursuant to a Final Order.

       Section 10.4.       Rejection Damages Claims. Any proof of claim with
respect to any executory contract rejected pursuant to this Plan shall be filed
not later than the 30th date after the Effective Date; and proof of claim for
such rejection damages not filed by such date shall be disallowed and
permanently barred.

                                   ARTICLE XI.
                                  DISTRIBUTIONS

       Section 11.1.       Disbursing Agent. The Disbursing Agent may employ or
contract with other entities to assist in or make the distributions required by
this Plan. The Disbursing Agent shall serve without bond.

       Section 11.2.       Distribution Record Date. With respect to holders of
all General Unsecured Claims against the Debtors, on the Distribution Record
Date, the claims register shall be closed. The Debtors and the Reorganized
Debtors shall have no obligation to recognize any transfer of any Claims
occurring after the close of business after such date.

                                      -22-
<PAGE>

       Section 11.3.       Timing of Disbursement of Property. Property to be
distributed hereunder to holders of Allowed Claims and Interests shall be
distributed on or as soon as reasonably practicable after the latest of (a) the
Effective Date or (b) the date the Order of the Bankruptcy Court allowing such
Claim becomes a Final Order, including any Final Orders governing fee
applications.

       Section 11.4.       No Fractional Distributions No fractional shares of
New Common Stock shall be distributed and no Cash shall be distributed in lieu
of such fractional shares. When any distribution pursuant to the Plan on account
of an Allowed Claim would otherwise result in the issuance of a number of shares
of New Common Stock that is not a whole number, the actual distribution of
shares of New Common Stock shall be rounded as follows: (a) fractions of
one-half (1/2) or greater shall be rounded to the next higher whole number and
(b) fractions of less than one-half (1/2) shall be rounded to the next lower
whole number with no further payment therefor. The total number of authorized
shares of New Common Stock to be distributed to holders of Allowed Claims shall
be adjusted as necessary to account for the foregoing rounding.

       Section 11.5.       Cash Payments. Any Cash payments made pursuant to
this Plan will be made in U.S. dollars. Cash payments made pursuant to this Plan
in the form of check shall be null and void if not cashed within 90 days of the
date of issuance thereof.

       Section 11.6.       Delivery of Distributions. Subject to Bankruptcy Rule
9010, distributions to holders of Allowed Claims under this Plan shall be made
to the address of such holder listed on any proof of claim filed by such holder,
or if such holder did not file a proof of claim, the address listed for such
holder on the Debtor's Schedules or Statement of Financial Affairs filed in the
Case, and amended, supplemented or modified. Subject to Section 11.7,
undeliverable distributions shall remain in the possession of the Disbursing
Agent, as applicable.

       Section 11.7.       Surrender of Common-Stock Interests. Each holder of
Common-Stock Interests shall surrender such Interests to the Disbursing Agent,
or in the event such Interests are held in the name of, or by a nominee of, DTC,
the Disbursing Agent shall seek the cooperation of DTC to provide appropriate
instructions to the Disbursing Agent. No distributions under the Plan shall be
made for or on behalf of any such holder unless and until such Interest is
received by the Disbursing Agent or appropriate instructions from DTC shall be
received by the Disbursing Agent, or the loss, theft or destruction of such
Interest is established to the reasonable satisfaction of the Disbursing Agent,
which satisfaction may require such holder to submit (a) a lost instrument
affidavit and (b) an indemnity bond holding the Debtor, Reorganized Debtor,
Disbursing Agent and Transfer Agent harmless in respect of such Interest and any
distributions made in respect thereof. Upon compliance with this Section by a
holder of any Interest, such holder shall, for all purposes under the Plan be
deemed to have surrendered such interest. Any holder of Common-Stock Interests
that fails to surrender such Interest or satisfactorily explain its
non-availability to the Disbursing Agent within six (6) months of the Effective
Date shall be deemed to have no further Interest in the Debtor and the
Reorganized Debtor (or their property) or the Disbursing Agent in respect of
such Interest and shall not participate in any distribution under the Plan. All
property in respect of such forfeited distributions, including interest thereon,
shall revert to the Reorganized Debtor.

                                      -23-
<PAGE>

       Section 11.8.       Withholding Taxes. The Debtor or the Disbursing
Agent, as the case may be, shall be entitled, but shall have no obligation, to
deduct any federal, state or local withholding taxes from any payments or
distributions made with respect to Allowed Claims, as reasonably appropriate.
All entities holding Allowed Claims shall be required to provide any information
reasonably requested to effect the withholding of such taxes.

       Section 11.9.       Unclaimed Property. Any Person who fails to claim any
Cash, Reorganized SeraCare Common Stock or any options being issued to Class 8
Interest Holders to be distributed hereunder within six (6) months from the
Effective Date shall forfeit all rights to any such distributions and any
further distributions under this Plan. Upon forfeiture, such Cash (including
interest thereon) or interests shall be retained by Reorganized SeraCare.
Nothing herein shall require the Debtor, Reorganized SeraCare or the Disbursing
Agent to attempt to locate or notify any Person with respect to any forfeited
property. Persons who fail to claim Cash or Interests timely shall forfeit their
rights thereto and shall have no claim whatsoever with respect thereto against
the Debtor, Reorganized SeraCare, the Disbursing Agent or any holder of an
Allowed Claim or Allowed Interest to which distributions are made.

       Section 11.10.      Disputed Claims. If the Debtor or any other party in
interest disputes any Claim or Interest, such dispute shall be determined,
resolved or adjudicated, as the case may be, under applicable law by the
Bankruptcy Court. Among other things, the Debtor, Reorganized SeraCare, the Ad
Hoc Committee and the Designated Derivative Shareholder (with respect to any
claims of any defendant in the Non-Settled D&O Actions) may each elect, at their
respective sole option, to object to or seek estimation under Bankruptcy Code
Section 502 with respect to any proof of Claim or Interest filed by or on behalf
of a holder of a Claim or Interest and that is not Allowed pursuant to this
Plan.

       Section 11.11.      Objections to Claims and Interests. After the
Confirmation Date no party in interest shall have the right to object to Claims
against or Interests in the Debtor other than the Reorganized SeraCare, the Ad
Hoc Committee and the Designated Derivative Shareholder, each of which shall be
deemed to have standing to object to all such Claims and Interests (except the
Designated Derivative Shareholder, who shall be limited to objections with
respect to any claims of any defendant in the Non-Settled D&O Actions), and such
objections (including subordination) are preserved except as against Claims
Allowed in this Plan. All claims objections shall be filed not later than the
sixtieth day after the Effective Date, or shall be forever barred.

       Section 11.12.      No Distributions Pending Allowance. No payments or
distributions shall be made on account of any Claim or Interest, including a
Disputed Claim or Interest, until such Claim becomes an Allowed Claim or
Interest; provided, however, that a holder of a Disputed Common-Stock Interest
shall be permitted to fully participate in the Rights Offering.

       Section 11.13.      Post-Confirmation Reports and Fees. Reorganized
SeraCare shall be responsible for the filing of all post-confirmation reports
with the Office of the United States Trustee and payment of all
post-confirmation fees charged or assessed against the Debtor's estate under 28
U.S.C. ss. 1930.

                                      -24-
<PAGE>

                                  ARTICLE XII.
                   CONDITIONS TO CONFIRMATION AND CONSUMMATION

       Section 12.1.       Conditions to Confirmation.
                           --------------------------

                  12.1.1.  There shall be a Final Order of the Bankruptcy Court
         approving the Disclosure Statement;

                  12.1.2.  There shall be a Final Order of the Bankruptcy Court
         providing that the Estimated amount of the Class Action Class 6B Claim
         is equal to or less than $1,000,000.

                  12.1.3.  There shall be a Final Order of the Bankruptcy Court
         (including any agreed orders with respect to the Electing D&O)
         disallowing all indemnification and contribution claims;

                  12.1.4.  The total amount of all Allowed and Disputed Class 5
         Claims shall not exceed $11,000,000.

       Section 12.2.       Conditions to Effective Date.
                           ----------------------------

                  12.2.1.  The Bankruptcy Court shall have entered the
         Confirmation Order, the Confirmation Order shall be a Final Order, and
         shall be in form and substance reasonably acceptable to the Joint Plan
         Proponents;

                  12.2.2.  All authorizations, consents and regulatory approvals
         required, if any, in connection with the Plan's effectiveness, shall
         have been obtained;

                  12.2.3.  No court shall have entered an order restraining the
         consummation of this Plan;

                  12.2.4.  The Subscription Period shall have passed and the
         Rights Offering shall have been consummated;

                  12.2.5.  Each of the Plan Documents shall have been executed
         and delivered as contemplated by this Plan, and any funding required
         under such documents to be delivered on the Effective Date shall have
         been delivered; and

                  12.2.6.  All corporate matters necessary to effect the
         transactions contemplated by this Plan shall have been completed, in
         form and substance reasonably satisfactory to the Joint Plan
         Proponents, including execution and delivery of the Plan Documents.

       Section 12.3.     Waiver of Conditions. The Joint Plan Proponents may
together waive any conditions to Confirmation or the Effective Date, in whole or
in part; provided, however, that the Ad Hoc Committee may waive, in its sole
discretion, any condition that any order be a Final Order.

                                      -25-
<PAGE>

                                 ARTICLE XIII.
                            RETENTION OF JURISDICTION

                  Following Confirmation and until such time as all payments and
distributions required to be made and all other obligations required to be
performed under this Plan have been made and performed, the Bankruptcy Court
shall retain jurisdiction as is legally permissible, including for the following
purposes:

       Section 13.1.       Claims and Interests. To determine the allowability,
classification, or priority of Claims against and Interests in the Debtor not
otherwise resolved by allowance, disallowance or estimation by this Plan or the
Confirmation Order;

       Section 13.2.       Injunction, etc. To issue injunctions or take such
other actions or make such other orders as may be necessary or appropriate to
restrain interference with the Plan or its execution or implementation by any
Person, to construe and to take any other action to enforce and execute the
Plan, including, but not limited to, the Confirmation Order or any other order
of the Bankruptcy Court, to issue such orders as may be necessary for the
implementation, execution, performance and consummation of the Plan and all
matters referred to herein, and to determine all matters that may be pending
before the Bankruptcy Court in the Case on or before the Effective Date with
respect to any Person;

       Section 13.3.       Fees. To determine any all applications for allowance
of compensation and expense reimbursement of Professionals for periods on or
before the Effective Date;

       Section 13.4.       Dispute Resolution. To resolve any dispute arising
under or related to the implementation, execution, consummation or
interpretation of the Plan and the making of distributions hereunder;

       Section 13.5.       Leases and Executory Contracts. To determine any and
all disputes regarding Cure Claims, and any disputes regarding the ability of
the Debtor to assume any executory contracts or unexpired leases pursuant to
Section 10.1;

       Section 13.6.       Actions. To determine all applications, motions,
adversary proceedings (including the D&O Adversary and all other Non-Settled D&O
Actions), contested matters, actions, and any other litigated matters instituted
prior to the closing of the Case, including any remands;

       Section 13.7.       General Matters. To determine such other matters, and
for such other purposes, as may be provided in the Confirmation Order or as may
be authorized under provisions of the Bankruptcy Code, Bankruptcy Rules or Local
Bankruptcy Rules;

       Section 13.8.       Plan Modification. To modify the Plan under
Bankruptcy Code Section 1127 in order to remedy any defect, cure any omission,
or reconcile any inconsistency in the Plan, the Confirmation Order or the Plan
Documents so as to carry out the Plan's intent and purposes;

                                      -26-
<PAGE>

       Section 13.9.       Aid Consummation. To issue such orders in aid of
consummation of the Plan and the Confirmation Order notwithstanding any
otherwise applicable non-bankruptcy law, with respect to any Person, to the full
extent authorized by the Bankruptcy Code;

       Section 13.10.      Implementation of Confirmation Order. To enter and
implement such orders as may be appropriate in the event the Confirmation Order
is for any reason stayed, revoked, modified or vacated;

       Section 13.11.      Resolve Disputes. To resolve any disputes concerning
whether a Person had sufficient notice of the Case, the Disclosure Statement
hearing, or the Confirmation Hearing, for any purpose;

       Section 13.12.      Determine Tax Liability. To determine any tax
liability pursuant to section 505 of the Bankruptcy Code;

       Section 13.13.      Orders. To resolve any dispute or matter arising
under or in connection with any order of the Bankruptcy Court entered in the
Case;

       Section 13.14.      Final Order. To enter Final Orders closing the Case;
and

       Section 13.15.      Other. To determine such other matters as may be set
forth in the Confirmation Order or as may arise in connection with the Plan,
Confirmation Order and/or any other agreement or transaction entered into
pursuant to or in connection with this Plan.

                                  ARTICLE XIV.
                            MISCELLANEOUS PROVISIONS

       Section 14.1.       Pre-Confirmation Modification. This Plan may be
altered, amended or modified jointly by the Joint Plan Proponents, before the
Confirmation Date, as provided in Bankruptcy Code Section 1127.

       Section 14.2.       Post-Confirmation Immaterial Modification. The Joint
Plan Proponents may, without notice to all holders of Claims and Interests,
insofar as it does not materially and adversely affect the interest of holders
of Claims or Interests, jointly correct any defect, omission or inconsistency in
this Plan in such manner and to such extent as may be necessary to expedite the
execution of this Plan.

       Section 14.3.       Post-Confirmation Material Modification. This Plan
may be altered or amended after the Confirmation Date with the consent of the
Joint Plan Proponents in a manner which, in the opinion of the Bankruptcy Court,
materially and adversely affects holders of Claims, provided that such
alteration or modification is after a hearing as provided in Bankruptcy Code
Section 1127.

       Section 14.4.       Withdrawal of Plan. The Joint Plan Proponents may,
upon mutual agreement, withdraw this Plan in their discretion. Either of the
Joint Plan Proponents may unilaterally withdraw this Plan in the event that such
Joint Plan Proponent terminates the Plan Support Agreement.

                                      -27-
<PAGE>

       Section 14.5.       Duties of Disbursing Agent and the Designated
Derivative Shareholder. The duties of the Disbursing Agent are only as herein
specifically provided and are purely ministerial in nature.

                  14.5.1.  The Disbursing Agent and the Designated Derivative
         Shareholder shall incur no liability whatsoever for any action taken,
         or failure to act, except for its own gross negligence or willful
         misconduct.

                  14.5.2.  In the performance of its duties hereunder, the
         Disbursing Agent and the Designated Derivative Shareholder shall be
         entitled to rely on any document, instrument or signature reasonably
         believed to be genuine.

                  14.5.3.  The Disbursing Agent and the Designated Derivative
         Shareholder may assume that any party purporting to give any notice in
         writing has been duly authorized to do so.

       Section 14.6.       Statutory Committees. Upon the Effective Date, any
official committees appointed in the Case shall be dissolved.

       Section 14.7.       Successors and Assigns. The rights, benefits and
obligations of any Person named or referred to in the Plan shall be binding on,
and shall inure to the benefit of, the heirs, executors, administrators,
successors and/or assigns of such Person.

       Section 14.8.       Governing Law. Except to the extent that the
Bankruptcy Code is applicable, the rights and obligations arising under this
Plan shall be governed by and construed and endorsed in accordance with the laws
of the State of California, without giving effect to any conflicts principles
that would require the application of the law of another jurisdiction.

       Section 14.9.       Notices. All notices, requests or demands for
payments provided for in this Plan shall be in writing and shall be deemed to
have been given (a) when personally delivered by hand, or (b) when received by
courier service or telecopier. Notices and requests shall be addressed and sent,
postage prepaid or delivered, to:

To the Debtor:

Susan Vogt
Chief Executive Officer
SeraCare Life Sciences, Inc.
375 West Street
West Bridgewater, Massachusetts 02379

Paul Couchot
Winthrop Couchot, PC
660 Newport Center Drive
Newport Beach, California 92660

                                      -28-
<PAGE>

To the Ad Hoc Committee:

Mark Bane
Ropes & Gray LLP
45 Rockefeller Center
New York, New York, 10045

D. Ross Martin
Ropes & Gray LLP
One International Place
Boston, Massachusetts 02110

Thomas E. Patterson
Klee Tuchin Bogdanoff & Stern LLP
2121 Avenue of the Stars
Los Angeles, California 90067

or to any other address designated by the foregoing by notices to all parties of
interest who have filed a notice of appearance (which has not been withdrawn)
pursuant to Rule 2002 of the Bankruptcy Rules.

       Section 14.10.      Severability. Except as to terms which would
frustrate the overall purpose of this Plan, should any provision in this Plan be
determined to be unenforceable, such determination shall in no way limit or
affect the enforceability and operating effect of any or all other provisions of
this Plan.

       Section 14.11.      Confirmation Order. The Confirmation Order shall
ratify all transactions effected by the Debtor during the period commencing on
the Petition Date and ending on the Confirmation Date except for any acts
constituting willful misconduct, gross negligence, or fraud.

       Section 14.12.      Final Orders. The Ad Hoc Committee may, in its sole
discretion, waive any requirement in the Plan for a Final Order.

       Section 14.13.      No Admissions. Notwithstanding anything herein to the
contrary, nothing contained in the Plan or the Disclosure Statement shall be
deemed as an admission by the Joint Plan Proponents with respect to any matter
set forth herein, including, without limitation, any liability on or treatment
of any Claim, or the propriety of a Claim's classification.

       Section 14.14.      Binding Effect. The Plan shall be binding upon and
inure to the benefit of the Debtor, creditors, holders of equity interests, and
their respective successors and assigns.

                                      -29-
<PAGE>

                                    SERACARE LIFE SCIENCES, INC.

 Dated:  November 10, 2006          /s/ SUSAN L. N. VOGT
 West Bridgewater, Massachusetts    --------------------------------------------
                                    By:    Susan L. N. Vogt
                                    Title: President and Chief Executive Officer

                                    AD HOC EQUITY COMMITTEE
                                    OF SERACARE LIFE SCIENCES, INC.

                                    By its authorized attorneys,
                                    ROPES & GRAY LLP

 Dated:  November 10, 2006          /s/ D. ROSS MARTIN
 New York, New York                 --------------------------------------------
                                    By:    D. Ross Martin
                                    Title: Member of the firmEXHIBIT 10.2

                                                                  Execution Copy
                                                                  --------------

                                                               November 10, 2006

                                                        PLAN SUPPORT AGREEMENT

         WHEREAS, SeraCare Life Sciences, Inc. (as debtor and
debtor-in-possession, the "Debtor") commenced a voluntary case under chapter 11
of the Bankruptcy Code on March 22, 2006 (the "Bankruptcy Case");

         WHEREAS, Harbinger Capital Partners Master Fund I, L.P., Harbinger
Capital Partners Special Situations Fund L.P. (collectively, "Harbinger"),
Blackhorse Capital Advisors LLC ("Blackhorse") and certain funds and accounts
collectively known as The Wolfson Group are the members of an ad hoc committee
of equityholders (the "Ad Hoc Committee"), and collectively hold over 30% of the
outstanding common shares of the Debtor;

         WHEREAS, exclusivity has been terminated in the Bankruptcy Case, and
the Ad Hoc Committee is prepared to file and seek confirmation of a plan of
reorganization that the Debtor would possibly oppose;

         WHEREAS, the Debtor has filed a motion seeking approval of a financing
(Docket No. 668, the "Financing Motion") that the Ad Hoc Committee opposes, and
the Ad Hoc Committee has filed an Objection to the Financing Motion;

         WHEREAS, in connection with the Financing Motion, the Debtor would
likely file and seek confirmation of a plan of reorganization that the Ad Hoc
Committee would oppose;

         WHEREAS, the Debtor and the Ad Hoc Committee also have other disputes;

         WHEREAS, a securities-fraud class-action relating to the Debtor is
pending against various parties, including the current directors of the Debtor,
styled In re SeraCare Life Sciences, Inc. Securities Litigation, S.D. Cal.
05-CV-2335 (the "10b5 Class Action"), and the plaintiffs in such action have
filed a class proof of claim in the Bankruptcy Case (the "Class Action Class 6
Claim");

         WHEREAS, the Debtor and the Ad Hoc Committee have determined to settle
their disputes regarding the reorganization of the Debtor and many of their
other disputes, by filing and seeking confirmation of a joint plan of
reorganization, substantially in the form attached hereto as Exhibit A (the
"Joint Plan"), and committing to consent to settlements with various other
parties in interest on certain terms;

         NOW THEREFORE, the Debtor and the undersigned members of the Ad Hoc
Committee, for good and valuable consideration, hereby agree as follows:

         1.       Withdrawal of Financing Motion. The Debtor shall immediately
file and prosecute a motion (the "Plan Procedures Motion") seeking Bankruptcy
Court entry of an order in the form attached hereto as Exhibit B (the "Plan

<PAGE>

Procedures Order") that: (i) pursuant to Bankruptcy Rule 7041, approves
withdrawal of the Financing Motion and no further performance by the Debtor of
any obligations to Allegiant (including payment of any breakup fee or
substantial contribution claim, except that Allegiant's rights, if any, under a
minute order of the court regarding payment of $100,000 legal fees and $35,000
of due diligence expenses, with all parties in interest retaining their rights
regarding such amounts), (ii) vacates the existing scheduling order with respect
to the Financing Motion, and (iii) approves, and authorizes and directs the
Debtor to perform, the provisions of this Agreement. The Debtor shall seek an
order shortening time seeking to have the Plan Procedures Motion heard on the
current hearing date of November 20, 2006, or as soon thereafter as the motion
may be heard. The Ad Hoc Committee shall support the Plan Procedures Motion. All
other covenants in this Agreement shall be subject to the entry of the Plan
Procedures Order.

         2.       Rights Offering Backstop Commitment. Contemporaneously
herewith, certain members of the Ad Hoc Committee (the "Backstop Purchasers")
are delivering to the Debtor: (i) irrevocable commitment letters with an
aggregate commitment of $20 million of funding for the rights offering to be
consummated via the Joint Plan and (ii) certification that the Backstop
Purchasers have the ability to financially perform such commitments. The
commitment letters may be rescinded if the Bankruptcy Court does not make a
ruling approving the Plan Procedures Motion prior to November 21, 2006.

         3.       Option for Purchase of Bank Debt. For the sole benefit of the
Debtor the Backstop Purchasers hereby also agree, upon written request of the
Debtor, that they will (i) purchase the existing bank debt of the Debtor at par,
on an as-is, where-is basis (with each Backstop Purchaser acquiring a share set
forth in the commitment letter described in paragraph 2) and replace the agent
and collateral agent, if the Debtor provides express written consent to such
purchase and to the replacement of the agents with one or more affiliates of the
Backstop Purchasers (it being understood that such agents would not be
commercial banks), (ii) consent, following the consummation of such purchase and
until June 30, 2007, to the Debtor's use of collateral and cash collateral
without requiring a budget or any interim payments of interest, principal or
fees, and no other adequate protection except the existing replacement liens and
liens on the proceeds of any collateral sold outside the ordinary course of
business and (iii) in the event of such purchase, not demand the payment of any
default interest (from and after the Petition Date), so long as all other
interest, principal and accrued fees and expenses are paid by the Debtor.

         4.       Fees and Expenses of Ad Hoc Committee. In consideration of,
among other things, the agreements of the Backstop Purchasers set forth in
paragraphs 2 and 3, and also pursuant to Bankruptcy Code section 503(b)(3) and
(b)(4), the Debtor hereby agrees to pay, without further motion or order (except
the entry of the Plan Procedures Order), the fees and expenses of the Ad Hoc
Committee incurred to date in the bankruptcy case, and the fees and expenses of
the Ad Hoc Committee until the earlier of the termination of this Agreement and
the effective date of the Joint Plan, which shall be payable immediately upon
the earlier of (i) the entry of any order confirming any plan of reorganization
in the Bankruptcy Case, whether the Joint Plan or any other plan sponsored by
any other person, (ii) conversion or dismissal of the Bankruptcy Case and (iii)
any termination of this Agreement other than for material breach by the Ad Hoc
Committee or under clause 9(f); provided, however, that in the event of a
material breach of this Agreement by the Ad Hoc Committee prior to any of the

<PAGE>

foregoing events, no such fees shall not be payable except on further motion of
the Ad Hoc Committee, with the Debtor and all parties in interest retaining
their rights to object to such motion.

         5.       Support of Joint Plan. Each of the undersigned hereby agrees
to use commercially reasonable efforts to (i) file and prosecute a motion
seeking approval of the disclosure statement (the "Joint Disclosure Statement")
attached hereto as Exhibit C, and voting procedures and other ancillary relief
regarding the voting process and to schedule a hearing on confirmation of the
Joint Plan and (ii) seek confirmation of the Joint Plan. Until termination of
the Agreement, the Ad Hoc Committee shall not support or propose any other plan
of reorganization other than the Joint Plan. The Debtor agrees to provide a
written report to counsel to the Ad Hoc Committee not later than 25 days after
the end of the month, reporting the Debtor's EBITDA (excluding the GCI business)
for the prior month.

         6.       No Other Debtor Plan.
                  --------------------

                  a.       In light of the fact that exclusivity has been
                           terminated and any party in interest may file and
                           seek confirmation of a plan of reorganization, the
                           Debtor shall not file, or seek confirmation of, or be
                           the proponent or co-proponent of, any other plan of
                           reorganization in the bankruptcy case other than the
                           Joint Plan, and shall not assist any other party in
                           prosecuting confirmation of any plan of
                           reorganization; provided, however, that the Debtor
                           shall be permitted to provide due diligence materials
                           to other persons seeking to file plans of
                           reorganization, so long as the Debtor (i) promptly
                           alerts the Ad Hoc Committee of the requests and
                           provision of such information, and (ii)
                           contemporaneously provides the same information to
                           the Ad Hoc Committee.

                  b.       This paragraph 6 is a material part of the settlement
                           of disputes in this Agreement (including the Ad Hoc
                           Committee's agreement to proceed with the Joint
                           Plan), and the Ad Hoc Committee is agreeing to
                           support the Joint Plan specifically in reliance on
                           the Debtor's agreement not to file any other plan,
                           based on the cases of In re Palmer, 134 B.R. 472
                           (Bankr. D. Conn. 1991); In re Lenox, 902 F. 2d 737
                           (9th Cir. 1990); and In re Allen, 300 F. 3d 1055 (9th
                           Cir. 2002).

                  c.       The Debtor's obligations in this paragraph 6 shall
                           survive termination of this Agreement, so long as the
                           Ad Hoc Committee did not materially breach this
                           Agreement prior to its termination and the Ad Hoc
                           Committee is pursuing the confirmation of a plan of
                           reorganization (i) that pays all general
                           nonsubordinated unsecured creditors in full, in cash,
                           with interest on the Effective Date of such plan (or,
                           with respect to any disputed claim, forthwith after
                           such claim is allowed), (ii) but which may otherwise
                           be on terms different from the Joint Plan with
                           respect to (A) any provision of the Joint Plan that
                           the Bankruptcy Court has affirmatively indicated it
                           would not approve and (B) any price adjustments set
                           forth in paragraph 10.
<PAGE>

         7.       D&O Insurance. The Ad Hoc Committee agrees that, after (i)
entry of the Plan Procedures Order and (ii) receipt of a written consent from
all the current members of the Debtor's special board committee and any present
and former directors and officers of the Debtor who have taken a position with
respect to the pending motion for lift-stay with respect to the Debtor's
directors and officers insurance, that the Ad Hoc Committee shall consent to the
pending motion to lift the stay with respect to the directors and officers
insurance. The written consent of the directors and officers shall consent to
immediate payment to the Debtor from such insurance of all amounts paid and/or
accrued as of the date of this Agreement by the Debtor in connection with the
defense (whether for the Debtor or present or former directors and officers) of
the 10b5 Class Action, the Class Action Class 6B Claim and the Government
Investigations.

         8.       Agreements Regarding Future Litigation.
                  --------------------------------------

                  a.       The Debtor and the Ad Hoc Committee shall jointly
                           prosecute a motion to estimate the Class Action Class
                           6B Claim.

                  b.       The Ad Hoc Committee shall use commercially
                           reasonable efforts to prosecute a motion to disallow,
                           under Bankruptcy Code Section 502(e) (and on any
                           other grounds that the Ad Hoc Committee deems
                           appropriate, after consultation with the Debtor), one
                           or more (at the election of the Ad Hoc Committee) of
                           the indemnification, reimbursement and contribution
                           claims that would otherwise be Class 6B Claims.

         9.       Termination. This Agreement shall terminate, upon notice given
by any party to this Agreement:

                  a.       If the bankruptcy case is dismissed or converted, or
                           there is appointment of a trustee or examiner with
                           expanded powers;

                  b.       If the Bankruptcy Court does not make a ruling
                           approving the Joint Disclosure Statement on or before
                           December 31, 2006;

                  c.       If the Bankruptcy Court does not enter an order
                           confirming the Joint Plan on or before May 31, 2007;

                  d.       If the Effective Date of the Joint Plan has not
                           occurred on or before June 30, 2007;

                  e.       If the EBITDA of the Debtor for the trailing 6 months
                           is less than $1.5 million (excluding the GCI business
                           and nonrecurring charges) measured in any month
                           beginning with February 2007, unless the Joint Plan
                           has been confirmed by February 28, 2007 and the
                           Effective Date has occurred by March 31, 2007; and

                  f.       Any material breach of this Agreement by the Debtor
                           or the Ad Hoc Committee (notice may only be given by
                           nonbreaching party).

<PAGE>

In the case of a termination, there shall be no liability of either party,
except that in all cases except a material breach by the Ad Hoc Committee, the
Debtor shall continue to be obligated to comply with paragraph 6.

         10.      Certain Price Adjustments. For each semi-monthly period
(ending either on the 15th day or the last day of each month) after February 28,
2007 until the Joint Plan is confirmed, the Subscription Price in the Rights
Offering shall be reduced by $0.25/share. For each 15-day period after the 30th
day after the Bankruptcy Court rules in favor of confirming the Joint Plan,
until the Effective Date of the Joint Plan, the Subscription Price in the Rights
Offering shall be reduced by $0.25/share; provided that there shall be no
adjustment pursuant to this sentence so long as the Effective Date of the Joint
Plan occurs on or prior to March 31, 2007 corresponding adjustments shall be
made to the number of shares in the offering to maintain the total financing
amount.

                               [signatures follow]

<PAGE>
                  SERACARE LIFE SCIENCES, INC.

                  By: /s/ SUSAN L. N. VOGT
                      ------------------------------------------
                      Name:  Susan L.N. Vogt
                      Title: President & Chief Executive Officer

                  HARBINGER CAPITAL PARTNERS MASTER FUND I, Ltd.
                  By: Harbinger Capital Partners Offshore Manager, L.L.C.
                  By: HMC Investors, L.L.C., Managing Member

                  By: /s/ PHILIP A. FALCONE
                      ------------------------------------------
                      Name:  Philip A. Falcone
                      Title: Vice President

                      Shares: 2,829,258
                              ----------------

                  HARBINGER CAPITAL PARTNERS SPECIAL SITUATIONS FUND, L.P.
                  By: Harbinger Capital Partners Special Situations GP, LLC
                  By: HMC - New York, Inc., Managing Member

                  By: /s/ PHILIP A. FALCONE
                      ------------------------------------------
                      Name:  Philip A. Falcone
                      Title: Vice President

                      Shares: 137,800
                              ----------------

                  BLACK HORSE CAPITAL L.P.
                  By: Black Horse Capital Management LLC

                  By: /s/ DALE B. CHAPPELL
                      ------------------------------------------
                      Name:  Dale B. Chappell
                      Title: Managing Member

                      Shares: 673,957
                              ---------------

                  BLACK HORSE CAPITAL (QP) LP
                  By: Black Horse Capital Management LLC

                  By: /s/ Dale B. Chappell
                      ------------------------------------------
                      Name:  Dale B. Chappell
                      Title: Managing Member

                      Shares: 205,653
                              ---------------

<PAGE>

                  BLACK HORSE CAPITAL OFFSHORE LTD.
                  By: Black Horse Capital Advisors LLC

                  By: /s/ DALE B. CHAPPELL
                      ------------------------------------------
                      Name:  Dale B. Chappell
                      Title: Managing Member

                      Shares: 162,240
                              ---------------

                  CHESED CONGREGATIONS OF AMERICA

                  By: /s/ ANDREW WOLFSON
                      ------------------------------------------
                      Name:  Andrew Wolfson
                      Title: V.P. & Treasurer

                      Shares: 161,260
                              ---------------

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}]]