Document:

tmok2007ex10_71.htm

    
      Exhibit
10.71

       

       

      FISHER
SCIENTIFIC INTERNATIONAL INC.

      SEVERANCE
PLAN FOR KEY EMPLOYEES

      

      

      The
Company hereby adopts, as of the Effective Date, the Fisher Scientific
International Inc. Severance Plan for Key Employees for the benefit of certain
employees of the Company and its subsidiaries, on the terms and conditions
stated herein. All capitalized terms used herein are defined in Section 1
hereof. The Plan, as set forth herein, is intended to help retain qualified
employees, maintain a stable work environment and provide economic security to
certain employees of the Company by providing certain employees with severance
protection in the event of certain terminations of employment following a Change
in Control. The Plan is intended to constitute a plan maintained primarily for
the purpose of providing deferred compensation for a select group of management
or highly compensated employees for purposes of ERISA.

      

      SECTION
1.     DEFINITIONS. As used
herein:

      

      SECTION
1.1    "Affiliate" shall have
the meaning set forth in Rule 12b-2 promulgated under Section 12 of the Exchange
Act.

      

      SECTION
1.2     "Annual Base Salary"
means an Eligible Employee's annual base salary as in effect immediately prior
to the Change in Control (excluding bonuses, commissions, premium pay and
similar compensation) or any higher annual base salary which may be established
for the Eligible Employee following the Change in Control; provided, however,
that the Annual Base Salary shall be determined without taking into account any
reduction in salary effected due to the Eligible Employee's participation in the
Company's Restricted Stock Unit Purchase Program under the Company's 2005 Equity
and Incentive Plan.

      

      SECTION
1.3     "Auditor" means the
Company's independent auditor immediately prior to the Change in
Control.

      

      SECTION
1.4     "Beneficial Owner"
shall have the meaning set forth in Rule 13d-3 under the Exchange
Act.

      

      SECTION
1.5     "Board" means the
Board of Directors of the Company.

      

      SECTION
1.6     "Cause" shall have the
meaning set forth in the Eligible Employee's employment or other agreement with
the Company or any Affiliate, provided that if the Eligible Employee is not a
party to any such employment or other agreement or such employment or other
agreement does not contain a definition of Cause, then Cause shall mean (i) the
willful and continued failure of the Eligible Employee to perform substantially
the Eligible Employee's duties with the Company or the Affiliate then employing
the Eligible Employee (other than any such failure resulting from incapacity due
to physical or mental illness), after a written demand for substantial
performance is delivered to the Eligible Employee by the Company that
specifically identifies the alleged manner in which the Eligible Employee has
not substantially performed the Eligible Employee's duties, or (ii) the willful
engaging by the Eligible Employee in illegal conduct or gross misconduct that is
materially and demonstrably injurious to the Company. For purposes of this
provision, no act or failure to act, on the part of the Eligible Employee, shall
be considered "willful" unless it is done, or omitted to be done, by the
Eligible Employee in bad faith or without reasonable belief that the Eligible
Employee's action or omission was in the best interests of the Company or the
Affiliate then employing the Eligible Employee.

       

       

      
        
          
          

        

        
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      SECTION
1.7     A "Change
in Control" shall be deemed to have occurred on the first date following
the Effective Date upon which an event set forth in any one of the following
paragraphs shall have occurred:

      

      
        	
                (i)  

              	
                any
      Person is or becomes the Beneficial Owner, directly or indirectly, of
      securities of the Company (not including in the securities beneficially
      owned by such Person any securities acquired directly from the Company or
      its Affiliates) representing more than twenty five percent (25%) of the
      combined voting power of the Company's then outstanding voting securities,
      excluding any Person who becomes such a Beneficial Owner in connection
      with a transaction described in clause (A) of paragraph below;
      or

              

      

      

      
        	
                (ii)  

              	
                the
      following individuals cease for any reason to constitute a majority of the
      number of directors then serving as members of the Board: individuals who,
      on the Effective Date, constitute the Board and any new director (other
      than a director whose initial assumption of office is in connection with
      an actual or threatened election contest, including but not limited to a
      consent solicitation, relating to the election of directors of the
      Company) whose appointment or election by the Board or nomination for
      election by the Company's stockholders was approved or recommended by a
      vote of at least two-thirds (2/3) of the directors then still in office
      who either were directors on the date hereof or whose appointment,
      election or nomination for election was previously so approved or
      recommended by such directors; or

              

      

      

      
        	
                (iii)  

              	
                there
      is consummated a merger or consolidation of the Company or any direct or
      indirect subsidiary of the Company with any other corporation or other
      entity, other than (A) a merger or consolidation which results in the
      voting securities of the Company outstanding immediately prior to such
      merger or consolidation continuing to represent (either by remaining
      outstanding or by being converted into voting securities of the surviving
      entity or any parent thereof), in combination with the ownership of any
      trustee or other fiduciary holding securities under an employee benefit
      plan of the Company or any subsidiary of the Company, more than fifty
      percent (50%) of the combined voting power of the voting securities of the
      Company or such surviving entity or any parent thereof outstanding
      immediately after such merger or consolidation, or (B) a merger or
      consolidation effected to implement a recapitalization of the Company (or
      similar transaction) in which no Person is or becomes the Beneficial
      Owner, directly or indirectly, of securities of the Company (not including
      in the securities Beneficially Owned by such Person any securities
      acquired directly from the Company or its Affiliates) representing more
      than twenty five percent (25%) of the combined voting power of the
      Company's then outstanding
securities;

              

      

       

       

       

      
        
          
          

        

        
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                (iv)  

              	
                the
      stockholders of the Company approve a plan of liquidation or dissolution
      of the Company or there is consummated an agreement for the sale or other
      disposition, directly, or indirectly, by the Company of all or
      substantially all of the Company's assets, other than such sale or other
      disposition by the Company of all or substantially all of the Company's
      assets to an entity, more than fifty percent (50%) of the combined voting
      power of the voting securities of which are owned by stockholders of the
      Company in substantially the same proportions as their ownership of the
      Company immediately prior to such sale and other than a sale;
      or

              

      

      

      
        	
                (v)  

              	
                the
      Board otherwise determines that a Change in Control has
      occurred.

              

      

      

      Notwithstanding
the foregoing, a "Change in Control" shall not be deemed to have occurred
pursuant to clauses (i) - (iv) above by virtue of the consummation of any
transaction or series of integrated transactions immediately following which the
record holders of the common stock of the Company immediately prior to such
transaction or series of transactions continue to have substantially the same
proportionate ownership in an entity which owns all or substantially all of the
assets of the Company immediately following such transaction or series of
transactions.

      

      SECTION
1.8     "Code" means the
Internal Revenue Code of 1986, as it may be amended from time to
time.

      

      SECTION
1.9     "Company" means Fisher
Scientific International Inc. and (except for determining whether a Change in
Control has occurred) any successors thereto.

       

      SECTION
1.10     "Effective Date" means
May 7, 2006.

      

      SECTION
1.11     "Eligible Corporate
Employee" means any Eligible Employee identified on Attachment 1 as an
Eligible Corporate Employee.

      

      SECTION
1.12     "Eligible Employee"
means any key employee of the Company or an Affiliate who is identified on
Attachment 1 as an Eligible Employee and who executes a Notice, in the form
determined by the Plan Administrator. Notices may be delivered by the Plan
Administrator prior to the occurrence of a Change in Control and once executed
by the Eligible Employee may not be revoked or amended without the Eligible
Employee's written consent.

      

      SECTION
1.13     "Eligible Operational
Employee" means any Eligible Employee identified on Attachment 1 as an
Eligible Operational Employee.

       

       

      
        
          
          

        

        
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      SECTION
1.14     "ERISA" means the
Employee Retirement Income Security Act of 1974, as it may be amended from time
to time.

      

      SECTION
1.15     "Exchange Act" shall
mean the Securities Exchange Act of 1934, as amended.

      

      SECTION
1.16     "Excise Tax" means any
excise tax imposed under Section 4999 of the Code.

      

      SECTION
1.17     "Good Reason" shall
have the meaning set forth in the applicable Notice to the Eligible Employee. An
Eligible Employee must assert Good Reason within the sixty (60) day period
following becoming aware of the event or circumstance constituting Good Reason.
No event or circumstance shall constitute Good Reason unless it occurs on or
following a Change in Control.

      

      SECTION
1.18     "Gross-Up Payment"
shall have the meaning set forth in Section 3.1.

      

      SECTION
1.19     "Key Employee" means
any Eligible Employee described in Section 409A(a)(2)(B)(i) of the
Code.

      

      SECTION
1.20     "Notice" shall mean a
Notice delivered to an Eligible Employee by the Plan Administrator and executed
by the Eligible Employee indicating the employee's selection for participation
in the Plan and the extent and certain terms and conditions of such
participation as contemplated by the Plan. The Plan Administrator shall deliver
such Notice as soon as practicable following the Eligible Employee's selection
for participation in the Plan.

      

      SECTION
1.21     "Person" shall have
the meaning given in Section 3(a)(9) of the Exchange Act, as modified and used
in Sections 13(d) and 14(d) thereof, except that such term shall not include (i)
the Company or any of its subsidiaries, (ii) a trustee or other fiduciary
holding securities under an employee benefit plan of the Company or any of its
Affiliates, (iii) an underwriter temporarily holding securities pursuant to an
offering of such securities, or (iv) a corporation owned, directly or
indirectly, by the stockholders of the Company in substantially the same
proportions as their ownership of stock of the Company.

       

      SECTION
1.22     "Plan" means the
Fisher Scientific International Inc. Severance Plan for Key Employees as set
forth herein, as it may be amended from time to time.

      

      SECTION
1.23     "Plan Administrator"
means the person or persons, who may be employees of the Company, appointed from
time to time by the Board to administer the Plan which appointment may be
revoked at any time by the Board, provided, however, that following a Change in
Control, the Plan Administrator at the time of the Change in Control must
consent to any subsequent revocation or change in appointment, which such
consent may not be unreasonably withheld.

       

       

       

      
        
          
          

        

        
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      SECTION
1.24     "Pro Rata Bonus" shall
be the amount equal to the Eligible Employee's Target Bonus, pro-rated for the
period of the Eligible Employee's employment with the Company or an Affiliate
during the fiscal year in which the Severance Date occurs, but without giving
effect to any reduction in the bonus due to the Eligible Employee's
participation in the Restricted Stock Unit Purchase Program under the Company's
2005 Equity and Incentive Plan.

      

      SECTION
1.25     "Release" shall mean
the Release attached hereto as Attachment 2.

      

      SECTION
1.26     "Severance" means (A)
the termination of an Eligible Corporate Employee's employment with the Company
and its Affiliates on or within eighteen months following the date of a Change
in Control or (B) the termination of an Eligible Operational Employee's
employment with the Company and its Affiliates on or within twenty-four months
following the date of a Change in Control in either case (i) by the Company or
an Affiliate other than for Cause or (ii) by the Eligible Employee for Good
Reason. Notwithstanding the foregoing, an Eligible Employee will not be
considered to have incurred a Severance if his employment is discontinued by
reason of the Eligible Employee's death or a physical or mental condition
causing such Eligible Employee's inability to substantially perform his duties
with the Company or the Affiliate then employing the Eligible Employee, if such
condition entitles him to benefits under any long-term disability income policy
or program of the Company or an Affiliate.

      

      SECTION
1.27     "Severance Date" means
the date on or after the date of the Change in Control on which an Eligible
Employee incurs a Severance.

      

      SECTION
1.28     "Severance Multiplier"
shall mean the Severance Multiplier set forth in a Notice to the Eligible
Employee from the Plan Administrator.

      

      SECTION
1.29     "Severance Pay" means
the payment determined pursuant to Section 2.1 hereof.

       

      SECTION
1.30     "Severance Period"
shall mean the number of months equal to the product of (a) 12 and (b) the
applicable Severance Multiplier.

      

      SECTION
1.31     "Severed Employee" is
an Eligible Employee (including any Key Employee) who incurs a
Severance.

      

      SECTION
1.32     "Target Bonus" means
an Eligible Employee's target bonus for the year in which the Change in Control
occurs or any higher target which may be established for the Eligible Employee
following the Change in Control; provided, however, that the Target Bonus shall
be determined without taking into account any reduction in target bonus effected
due to the Eligible Employee's participation in the Company's Restricted Stock
Unit Purchase Program under the Company's 2005 Equity and Incentive
Plan.

       

       

      
        
          
          

        

        
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      SECTION
1.33     Tax Counsel" means tax counsel
selected by the Auditor. To the extent possible (as determined by the Auditor),
there shall be a single Tax Counsel for the Plan.

      

      SECTION
1.34     "Total Payments" means
any payment or benefit (other than the Gross-Up Payment) received in connection
with a Change in Control or the termination of an Eligible Employee's
employment, whether pursuant to the terms of the Plan or any other plan,
arrangement or agreement.

      

      SECTION
2.  SEVERANCE PAY AND
BENEFITS.

      

      SECTION
2.1     Subject to Section 2.5, each Severed Employee
shall be entitled to receive (i) Severance Pay in an amount set forth in the
Notice ("Severance Pay"); and (ii) the Pro Rata Bonus. Severance Pay and the
Pro-Rata Bonus shall be paid to an eligible Severed Employee in a cash lump sum,
as soon as practicable following the Revocation Date (as such term is defined in
the Release), but in no event later than ten (10) business days immediately
following the Revocation Date. In addition to the foregoing, each Severed
Employee shall not be required to repay to the Company or an Affiliate any
relocation or signing bonus payment which might otherwise by repayable to the
Company or an Affiliate upon a termination of employment, notwithstanding the
terms of any other contract or agreement between the Severed Employee and the
Company or an Affiliate.

      

      SECTION
2.2     Subject to Section 2.5 hereof, during the
Severance Period, the Company shall provide health, vision, dental and life
insurance benefits to each Severed Employee and his eligible dependants that are
substantially similar to those provided to the Severed Employee and his eligible
dependents immediately prior to the Severance Date, at no greater after tax cost
to the Severed Employee than the after tax cost to the Severed Employee
immediately prior to the Severance Date; provided, however, that the Company
shall have no further obligation to provide the Severed Employee or his eligible
dependents benefits under this Section 2.2 beginning on the day the Severed
Employee first obtains medical coverage pursuant to subsequent employment; and
further provided that such benefits shall in no event be provided beyond the
date following which the provision of such benefits would be subject to
additional tax or penalties under Section 409A of the Code. The Severed Employee
will promptly notify the Company in writing of such subsequent
employment.

       

      SECTION
2.3     The Company shall provide outplacement benefits
with a value up to $20,000, or such greater amount to which such Severed
Employee is entitled pursuant to an applicable offer letter or other agreement
with the Company or an Affiliate.

      

      SECTION
2.4     Any equity based awards granted to an Eligible
Employee (including any Severed Employee) shall be treated in the manner set
forth in the applicable plan and agreement; provided, however that if the
Eligible Employee has been granted an award under the Company's 2005 Equity and
Incentive Plan, the provisions of Section 8(d) of such plan shall be superseded
by the provisions of Section 3 hereof.

       

       

       

      
        
          
          

        

        
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      SECTION
2.5     Notwithstanding anything in the Plan to the
contrary, the receipt by a Severed Employee of benefits under Section 2 of the
Plan shall be conditioned on the execution by the Severed Employee of the
Release and the failure of the Severed Employee to revoke such Release. In
addition, as a condition to the receipt of benefits or payments hereunder, each
Severed Employee shall be required, upon the Company's reasonable request, to
cooperate with the Company for a period of 30 days following Severance Date with
respect to transitioning the Severed Employee's duties, provided that such
services shall be provided at such time and place as may be selected by the
Severed Employee and in a manner that does not interfere with the Severed
Employee's subsequent employment or other business endeavors.

      

      SECTION
3   EXCISE
TAXES.

      

      SECTION
3.1     In the event that any portion of the Total
Payments will be subject to the Excise Tax, the Company shall pay to the
Eligible Employee an additional amount (the "Gross-Up Payment") such that the
net amount retained by the Eligible Employee, after deduction of any Excise Tax
on the Total Payments and any federal, state and local income and employment
taxes and Excise Tax upon the Gross-Up Payment, and after taking into account
the phase out of itemized deductions and personal exemptions attributable to the
Gross-Up Payment, shall be equal to the Total Payments.

      

      SECTION
3.2     For purposes of determining whether any of the
Total Payments will be subject to the Excise Tax and the amount of such Excise
Tax, (i) all of the Total Payments shall be treated as "parachute payments"
(within the meaning of Section 280G(b)(2) of the Code) unless, in the opinion of
Tax Counsel, such payments or benefits (in whole or in part) do not constitute
parachute payments, (ii) all "excess parachute payments" within the meaning of
Section 280G(b)(l) of the Code shall be treated as subject to the Excise Tax
unless, in the opinion of Tax Counsel, such excess parachute payments (in whole
or in part) represent reasonable compensation for services actually rendered
(within the meaning of Section 280G(b)(4)(B) of the Code) in excess of the Base
Amount allocable to such reasonable compensation, or are otherwise not subject
to the Excise Tax, and (iii) the value of any noncash benefits or any deferred
payment or benefit shall be determined by the Auditor in accordance with the
principles of Sections 280G(d)(3) and (4) of the Code. For purposes of
determining the amount of the Gross-Up Payment, the Eligible Employee shall be
deemed to pay federal income tax at the highest marginal rate of federal income
taxation in the calendar year in which the Gross-Up Payment is to be made and
state and local income taxes at the highest marginal rate of taxation in the
state and locality of the Eligible Employee's residence on the Severance Date,
net of the maximum reduction in federal income taxes which could be obtained
from deduction of such state and local taxes.

       

       

      
        
          
          

        

        
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      SECTION
3.3     In the event that the Excise Tax is finally
determined to be less than the amount taken into account hereunder in
calculating the Gross-Up Payment, the Eligible Employee shall repay to the
Company, within five (5) business days following the time that the amount of
such reduction in the Excise Tax is finally determined, the portion of the
Gross-Up Payment attributable to such reduction (plus that portion of the
Gross-Up Payment attributable to the Excise Tax and federal, state and local
income and employment taxes imposed on the Gross-Up Payment being repaid by the
Eligible Employee), to the extent that such repayment results in a reduction in
the Excise Tax and a dollar-for-dollar reduction in the Eligible Employee 's
taxable income and wages for purposes of federal, state and local income and
employment taxes, plus interest on the amount of such repayment at 120% of the
rate provided in section 1274(b)(2)(B) of the Code. In the event that the Excise
Tax is determined to exceed the amount taken into account hereunder in
calculating the Gross-Up Payment (including by reason of any payment the
existence or amount of which cannot be determined at the time of the Gross-Up
Payment), the Company shall make an additional Gross-Up Payment in respect of
such excess (plus any interest, penalties or additions payable by the Eligible
Employee with respect to such excess) within five (5) business days following
the time that the amount of such excess is finally determined. The Eligible
Employee and the Company shall each reasonably cooperate with the other in
connection with any administrative or judicial proceedings concerning the
existence or amount of liability for Excise Tax with respect to the Total
Payments.

      

      SECTION
3.4     Notwithstanding anything in this Section 3 to
the contrary, the Plan administrator shall make such arrangements as it shall
deem equitable and appropriate in the event of an Eligible Employee who is not a
United States taxpayer in the event of the imposition of the Excise Tax or
similar tax on such employee.

      

      SECTION
4.  PLAN
ADMINISTRATION.

      

      SECTION
4.1     The Plan shall be interpreted, administered and
operated by the Plan Administrator, who shall have the authority to prescribe,
amend and rescind rules and regulations relating to the Plan, to designate
Eligible Employees and to make all other determinations necessary or advisable
for the administration of the Plan.

    

    
      

      SECTION
4.2     In the event of a claim by an Eligible Employee
as to the amount or timing of any payment or benefit, such Eligible Employee
shall present the reason for his claim in writing to the Plan Administrator. The
Plan Administrator shall, within sixty (60) days after receipt of such written
claim, send a written notification to the Eligible Employee as to its
disposition. In the event the claim is wholly or partially denied, such written
notification shall (i) state the specific reason or reasons for the denial, (ii)
make specific reference to pertinent Plan provisions on which the denial is
based, (iii) provide a description of any additional material or information
necessary for the Eligible Employee to perfect the claim and an explanation of
why such material or information is necessary, and (iv) set forth the procedure
by which the Eligible Employee may appeal the denial of his claim. In the event
an Eligible Employee wishes to appeal the denial of his claim, he may request a
review of such denial by making application in writing to the Plan Administrator
within sixty (60) days after receipt of such denial. Such Eligible Employee (or
his duly authorized legal representative) may, upon written request to the Plan
Administrator, review any documents pertinent to his claim, and submit in
writing issues and comments in support of his position. Within sixty (60) days
after receipt of a written appeal (unless special circumstances, such as the
need to hold a hearing, require an extension of time, but in no event more than
one hundred twenty (120) days after such receipt), the Plan Administrator shall
notify the Eligible Employee of the final decision. The final decision (subject
to Section 6.3) shall be in writing and shall include specific reasons for the
decision, written in a manner calculated to be understood by the claimant, and
specific references to the pertinent Plan provisions on which the decision is
based.

       

       

      
        
          
          

        

        
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      SECTION
4.3     The Plan Administrator may delegate any of its
duties hereunder to such person or persons from time to time as it may
designate.

      

      SECTION
4.4     The Plan Administrator is empowered, on behalf
of the Plan, to engage accountants, legal counsel (which may be the Company's
general counsel) and such other personnel as it deems necessary or advisable to
assist it in the performance of its duties under the Plan. The functions of any
such persons engaged by the Plan Administrator shall be limited to the specified
services and duties for which they are engaged, and such persons shall have no
other duties, obligations or responsibilities under the Plan. Such persons shall
exercise no discretionary authority or discretionary control respecting the
management of the Plan. All reasonable expenses thereof shall be borne by the
Company.

       

      SECTION
5.  PLAN
MODIFICATION OR TERMINATION.

      

                The Plan may be amended or
terminated by the Board at any time; provided, however, that except as required
by law, the Plan may not be amended or terminated within (i) the one year period
following the Effective Date or (ii) at any time following a Change in Control,
in either case in a manner that would (or could reasonably be expected to)
adversely affect the rights of Eligible Employees under the Plan without the
express written consent of each Eligible Employee so affected. No Eligible
Employees may be removed from the list set forth on Attachment 1 following the
execution by the Eligible Employee of such employee's Notice.

      

      SECTION
6.  GENERAL
PROVISIONS.

      

      SECTION
6.1     Except as otherwise provided herein or by law,
no right or interest of any Eligible Employee under the Plan shall be assignable
or transferable, in whole or in part, either directly or by operation of law or
otherwise, including without limitation, by execution, levy, garnishment,
attachment, pledge or in any manner; no attempted assignment or transfer thereof
shall be effective; and no right or interest of any Eligible Employee under the
Plan shall be subject to, any obligation or liability of such Eligible Employee.
When a payment is due under the Plan to an Eligible Employee who is unable to
care for his affairs, payment may be made directly to his legal guardian or
personal representative.

      

      SECTION
6.2     If the Company or an Affiliate is obligated by
law or by contract to pay severance pay, a termination indemnity, notice pay, or
the like, or if the Company or an Affiliate is obligated by law to provide
advance notice of separation, then any Severance Pay paid to a Severed Employee
hereunder shall be reduced (but not below zero) by the amount of any such
severance pay, termination indemnity, notice pay or the like, as applicable, and
by the amount of any salary or wages received by the Severed Employee after the
Company or an Affiliate provided notice of separation according to Section 6.4
hereof. To the extent that the Company or its Affiliates have an obligation to
provide benefits following termination of employment, such benefits shall not be
provided hereunder to the extent that to do so would result in duplication of
such benefits. Except as specifically set forth in the preceding sentence,
amounts payable hereunder shall not be subject to mitigation or
offset.

       

       

       

      
        
          
          

        

        
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      SECTION
6.3     The provisions of the Plan (including Section
4.2) shall not be construed as prohibiting an Eligible Employee from commencing
an action, suit or proceeding in any court of competent jurisdiction with
respect to such Eligible Employee's rights under the Plan. If the Company and
the Eligible Employee become involved in any such action, suit or proceeding,
the Company shall reimburse the Eligible Employee for all reasonable expenses
(including reasonable attorney's fees) incurred by the Eligible Employee in
connection with such action, suit or proceeding provided that the Eligible
Employee does not commence such action, suit or proceeding in bad faith. Such
costs shall be paid to such Eligible Employee promptly upon presentation of
expense statements or other supporting information evidencing the incurrence of
such expenses. Determinations of the Plan Administrator shall not be entitled to
deference in the event of any action or proceeding described in this Section 6.3
regarding the Plan.

       

      SECTION
6.4     All notices or other communications hereunder
shall be in writing and shall be deemed to have been duly given (a) when
delivered personally, (b) upon confirmation of receipt when such notice or other
communication is sent by facsimile or telex, (c) one day after timely delivery
to an overnight delivery courier, or (d) on the fifth day following the date of
deposit in the United States mail if sent first class, postage prepaid, by
registered or certified mail. The address for the Company shall be as follows:
Plan Administrator, Severance Plan, Fisher Scientific International, Inc.,
Liberty Lane, Hampton, New Hampshire 03842. The address for each Eligible
Employee shall be the address on file with the Company, unless the Eligible
Employee notifies the Company of another address in accordance with this Section
6.4.

      

      SECTION
6.5     Neither the establishment of the Plan, nor any
modification thereof, nor the creation of any fund, trust or account, nor the
payment of any benefits shall be construed as giving any Eligible Employee, or
any person whomsoever, the right to be retained in the service of the Company or
an Affiliate, and all Eligible Employees shall remain subject to discharge to
the same extent as if the Plan had never been adopted.

      

      SECTION
6.6     The Company shall be entitled to withhold from
amounts to be paid to an Eligible Employee hereunder any federal, state or local
withholding or other taxes which it is from time to time required by law to
withhold. Notwithstanding any provision to the contrary herein, the payment of
any Severance Pay payable hereunder to a Key Employee shall be delayed until the
earliest date upon which such payment may be made without resulting in the
imposition of an additional tax or penalty under Section 409A of the Code;
provided, however that such delay shall only apply to the extent the Company
reasonably determines (upon the advice of counsel) that such delay is required
under Section 409A of the Code.

      

      SECTION
6.7     If any provision of the Plan shall be held
invalid or unenforceable, such invalidity or unenforceability shall not affect
any other provisions herein, and the Plan shall be construed and enforced as if
such provisions had not been included.

      

      SECTION
6.8     The Plan shall be binding upon the heirs,
executors, administrators, successors and assigns of the parties, including each
Eligible Employee, present and future, and any successor to the
Company.

       

       

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

       

      SECTION
6.9     The headings and captions herein are provided
for reference and convenience only, shall not be considered part of the Plan,
and shall not be employed in the construction of the Plan. Whenever any words
are used herein in the masculine gender, they shall be construed as though they
were also used in the feminine gender in all cases where they would so apply,
and, whenever any words are used herein in the singular form, they shall be
construed as though they were also used in the plural form in all cases where
they would so apply.

       

      SECTION
6.10     The Plan shall not be funded. No Eligible
Employee shall have any right to, or interest in, any assets of any Company
which may be applied by the Company to the payment of benefits or other rights
under the Plan.

      

      SECTION
6.11     The Plan shall be construed and enforced
according to the laws of the State of Delaware without reference to its choice
of law rules.

       

       

      
        
          
          

        

        
          11tmok2007ex10_72.htm

    Exhibit
10.72

    

    NOTICE
OF PARTICIPATION

    FISHER
SCIENTIFIC INTERNATIONAL INC.

    SEVERANCE
PLAN FOR KEY EMPLOYEES

    

    Dear Mr.
Stachtiaris:

    

    You have
been selected to participate in the Fisher Scientific International Inc.
Severance Plan for Key Employees (the "Plan").  This Plan has been
established to help retain qualified employees, maintain a stable work
environment and provide economic security to certain employees of Fisher
Scientific International Inc. (the "Company") by providing certain employees
with severance protection in the event of certain terminations of employment
following a Change in Control.  Capitalized terms used in this Notice
shall have the meaning set forth in the Plan.

    

    The Plan
document is attached to this Notice.  You should read the document
carefully as it is the legal document which determines your rights under the
Plan.  In addition, this Notice (which is a legally binding contract
between you and the Company) sets forth certain additional conditions of your
participation in the Plan.

    

    If you
incur a Severance, your Severance Pay shall equal the product of 2.0 and your
Annual Base Salary.

    

    The
definition of Good Reason applicable to you shall be (i) a material adverse
change in your duties from those in effect immediately prior to the Change in
Control; (ii) a reduction in your Annual Base Salary or a decrease in the target
amount of your annual incentive compensation from those levels in effect
immediately prior to the Change in Control; (iii) a material reduction in long
term incentive opportunity (including an adverse change in performance criteria)
and benefits from those levels in effect immediately prior to the Change in
Control; or (iv) the relocation of your principal place of employment to a
location more than fifty (50) miles from your principal place of employment
immediately prior to the date of the Change in Control, provided, however, such
relocation also requires a material change in your commute.

    

    By
executing this Notice, you acknowledge and agree that you have read and
understood the Plan and this Notice and agree to the conditions set forth in
such documents with respect to your participation in the Plan (including,
without limitation, the fact that any Severance Payment you may become entitled
to under the Plan will be conditioned on your execution of a release in favor of
the Company and its affiliates and that you will be required to cooperate with
the Company in transitioning your duties following a termination that entitles
you to a Severance Payment under the Plan).  In addition, you further
acknowledge that the existence of the Plan, your participation in the Plan and
the potential benefits payable to you under the Plan are strictly confidential
and you agree that you shall not divulge any information whatsoever regarding
the Plan without the express written permission of the Plan
Administrator.

    

    If you
understand and agree with the foregoing, please execute and return the original
copy of this notice to Thomas L. Rea.  Should you have any questions
regarding the Plan or your participation in the Plan, please contact Mr. Rea at
(603) 929-2366.

     

     

    
      
        FISHER
SCIENTIFIC INTERNATIONAL INC.

        

        
          	
                  By:

                	
                  /s/
      Thomas L.
      Rea                                                                       
      

                
	
                  Name:

                	
                  Thomas
      L. Rea

                
	
                  Title:

                	
                  Senior
      Vice President, Corporate Services

                
	 	 
	
                  Signed
      as of  _________.

                
	 
	 
	
                  /s/ Alex
      Stachtiaris                                                                                       
      

                
	
                  Employee

                
	 	 
	
                  Signed
      as of  June 1,
      2006

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00137-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00137-of-00352.parquet"}]]