Document:

Employment Agreement

  EXHIBIT 10.48
 EMPLOYMENT AGREEMENT
          This
Employment Agreement is executed by CHARLES L. POPE (“Executive”), who resides at the address listed at the end of this Agreement, and SRI/SURGICAL EXPRESS,
INC. (the “Company”), a Florida corporation with its principal executive office at 12425 Racetrack Road, Tampa, Florida 33626, to record their agreement regarding employment of Executive by the Company and the
payment by the Company to Executive of severance compensation benefits upon the occurrence of certain events. The parties agree as follows:
          1.       Definitions.As used in this Agreement, the capitalized terms defined below have the respective meanings ascribed to
them:
          “Agreement” means this Employment Agreement, as originally executed by Executive and the
Company and as subsequently amended or modified by them in accordance with its terms.
          “Annual Cash Compensation” means the sum of (a) Executive’s Annual Salary, plus (b) the amount of all other cash compensation paid by the Company to Executive during the period of 365 consecutive days ending immediately before a day when Executive’s
Annual Salary is required to be determined for purposes of this Agreement, for services rendered to the Company in all capacities, including salary, bonuses, and other incentive compensation payments, but excluding cash payments pursuant to the
exercise of stock options or stock appreciation rights, all non-cash compensation (whether in the form of fringe benefits, stock options, or insurance premium payments), and all cash contributions by the Company for the account or benefit of
executive under any employee retirement or deferred compensation plan. (For example, Executive’s Annual Cash Compensation on the date of a Change in Control would consist of Executive’s Annual Salary as of that date and all other cash
compensation paid by the Company Executive, as described above, during the 365 days immediately preceding the date of the Change in Control.)
          “Annual Salary” means the annualized, base salary payable to Executive by the Company as of any particular date, and excludes all other cash and non-cash compensation paid or payable to
Executive. Annual Salary will be determined without regard to any reduction made by the Company in anticipation of a Change of Control. Any reduction in Annual Salary made within six months before a Change of Control will be conclusively presumed to
be in anticipation of a Change of Control.
          “Beneficial Owner” means any person who, directly or
indirectly, through any contract, arrangement, relationship, understanding, or otherwise, has or shares (a) voting power of Shares, including the power to vote or to direct the voting of those securities through any trust, proxy, power of attorney,
or other voting arrangement, or (b) investment power over Shares, including the power to dispose or direct the disposition of those securities.
          “Benefit Continuation Period” has the meaning set forth in section 5(c)(ii).
          “Board” means the Board of Directors of the Company.
   
 

            “Cause” means a termination of Executive’s employment during the 24
months following the date of a Change in Control that is the result of (a) Executive’s felony conviction, (b) Executive’s willful disclosure of material trade secrets or other material confidential information related to the business of
the Company and its Subsidiaries, or (c) Executive’s willful and continued failure substantially to perform his duties with the Company (other than any such failure resulting from Executive’s incapacity due to physical and mental illness
or any such actual or anticipated failure resulting from a resignation by Executive based on a Constructive Termination), after a written demand for substantial performance is delivered to Executive by the Board, which demand specifically identifies
the manner in which the Board believes that Executive has not substantially performed his duties, and which performance is not substantially corrected by Executive within ten (10) days of receipt of the demand. For purposes of the previous sentence,
no act or failure to act on Executive’s part will be deemed “willful” unless done, or omitted to be done, by Executive not in good faith and without reasonable belief that his action or omission was in the best interest of the
Company. Notwithstanding the foregoing, Executive will not be deemed to have been terminated for Cause unless and until there has been delivered to Executive a copy of the resolution duly adopted by the affirmative vote of not less than
three-fourths of the entire membership of the Board at a meeting of the Board called and held for that purpose (after reasonable notice to Executive and an opportunity for Executive, together with his counsel, to be heard before the Board), finding
that in the good faith opinion of the Board Executive is guilty of conduct set forth in clauses (a), (b), or (c) of the first sentence of this section and specifying in detail the particulars of the conduct.
          “Change in Control” means a change in control of the Company that would be required to be reported in response to
Item 6(e) of Schedule 14A of Regulation 14A promulgated under the Securities Exchange Act of 1934, whether or not the Company is then subject to that reporting requirement. A Change in Control will be deemed to have occurred if:

	 	         (a)      the liquidation of all or substantially all the consolidated assets of the Company and its Subsidiaries, other than a
liquidation of a Subsidiary into the Company or another Subsidiary;

	 	         (b)      a sale, lease, exchange, or other transfer to any person other than a Subsidiary (in a single transaction or related
series of transactions) of 50% or more of the consolidated assets or earning power of the Company and its Subsidiaries, excluding the creation (but not the foreclosure) of a lien, mortgage, or security interest;

	 	         (c)      a merger, consolidation, reorganization, tender offer, exchange offer, or share exchange in which the Company is not
the surviving corporation or becomes a majority-owned subsidiary of a person other than a Subsidiary;

	 	         (d)      the occurrence of any event, transaction, or arrangement that results in any person or group becoming a Beneficial
Owner of (i) a majority of the outstanding equity securities of the Company or any Subsidiary that contributed more than 50% of the Company’s consolidated revenues for its last fiscal year, (ii) securities of the Company representing 30% or
more of the combined voting power of all the outstanding securities of the Company that are entitled to vote generally in the election of its directors, or (iii) with respect to any Subsidiary that contributed more than 50% of the Company’s
consolidated revenues for its last fiscal year, securities of that Subsidiary representing a

 2

	 	majority of the combined voting power of all the outstanding securities of that Subsidiary that are entitled to vote generally in the election of its directors, unless in each case the Beneficial Owner is the Company, a
Subsidiary, an employee benefit plan sponsored by the Company, a person or group who is a record or Beneficial Owner of 30% or more of the outstanding Shares on the effective date of this Agreement, or a person who becomes a Beneficial Owner of 30%
or more of the outstanding Shares solely by becoming a trustee of an inter vivos trust created by a person who is the record or Beneficial Owner of 30% or more of the outstanding Shares on the effective
date of this Agreement; or	

	 	         (e)      as the result of, or in connection with, any contested election for the Board of Directors of the Company or any tender
or exchange offer, merger, or other business combination or sale of assets, or any combination of the foregoing (a “Transaction”), the persons who were directors of the Company before the Transaction shall cease to constitute a majority of
the Board of Directors of the Company or any successor to the Company or its assets.

          “Company” means SRI/Surgical Express, Inc., a Florida corporation and a party to this Agreement, and includes its assignees and successors (by operation of law or otherwise).
          “Constructive Termination” means the occurrence of any one or more of the following events:
          (a)      without Executive’s advance written consent, the Board substantially changes Executive’s position,
titles, or the nature or status of his duties, authority, or responsibilities (including reporting responsibilities) from those in effect immediately preceding the date of a Change in Control;
          (b)      the relocation of the office of the Company where Executive is employed immediately before the date of the
Change in Control (the “CIC Location”) to a location that is more than 50 miles from the CIC Location or the Company’s requiring Executive to work more than 50 miles away from the CIC Location (except for required travel on the
Company’s business to an extent substantially consistent with Executive’s business travel obligations in the ordinary course of business before the date of the Change in Control);
          (c)      a reduction in Executive’s Annual Salary or a reduction of more than 25% in Executive’s Annual Cash
Compensation, other than a reduction pursuant to the operation of any bonus formula in effect before the date of a Change in Control, at any time on or after the date of a Change in Control, as compared to his Annual Salary or Annual Cash
Compensation on the date immediately preceding the date of the Change in Control;
          (d)      the failure by
the Company to continue in effect any compensation plan in which Executive participated before the Change in Control, unless an equitable arrangement (embodied in an ongoing substitute or an alternative plan) has been made with respect to the plan
in connection with the Change in Control, or the failure by the Company to continue Executive’s participation in the compensation plan on at least as favorable a basis, both in terms of the amount of benefits provided and the level of
participation relative to other participants, as existed on the date of the Change in Control;
 3 
 
   

         (e)         the failure by the Company to continue to provide Executive with benefits at
least as favorable in the aggregate as those enjoyed by Executive under the Company’s pension, savings, life insurance, medical, health and accident, disability, and fringe benefit plans and programs in which Executive was participating
immediately before the date of the Change in Control;
          (f)      any purchaser, assign, surviving
corporation, or successor of the Company or its business or assets (whether by acquisition, merger, liquidation, consolidation, reorganization, sale or transfer of assets or business, or otherwise) fails or refuses to expressly assume in writing
this Agreement and all of the duties and obligations of the Company hereunder; or
          (g)      the Company
breaches any of the provisions of this Agreement;
 provided, however, that an event described above in clauses (a), (c), (d), (e), or (g) will not constitute Constructive Termination unless it is communicated by
Executive to the Company in writing and not corrected by the Company in a manner that is reasonably satisfactory to Executive (including full retroactive correction with respect to any monetary matter) within 10 days of the Company’s receipt of
written notice from Executive.
          “Disability” means (a) Executive’s incapacity due to physical or
mental illness that causes him to be absent from the full time performance of his duties with the Company for six consecutive months and (b) his failure to return to full time performance of his duties for the Company within thirty (30) days after
written notice of termination due to Disability is given to Executive. Any question regarding the existence of Executive’s Disability on which Executive and the Company cannot agree will be determined by a qualified independent physician
selected by Executive (or, if he is unable to select a physician, by any adult member of his immediate family), and approved by the Company. The determination of the physician made in writing to the Company and to Executive will be final and
conclusive for all purposes of this Agreement.
          “Executive” means the officer of the Company who is a
party to this Agreement.
          “Involuntary Termination” means termination of Executive’s employment
with the Company within 24 months after the occurrence of a Change in Control either (a) by the Company for any reason other than for Cause, death, or Disability or (b) by Executive based on his good faith determination that he has suffered a
Constructive Termination.
          “Severance Date” means the effective date of Executive’s termination
of employment with the Company, whether involuntary or voluntary pursuant to a Constructive Termination.
          “Shares” means the issued and outstanding shares of common stock, $.001 par value, of the Company.
          “Subsidiary” means a corporation of which 80% or more of its voting securities are owned directly or indirectly by the Company.
 In addition, as used in this Agreement, (a) the
word “including” is always without limitation, (b) the word “days” refers to calendar days, including Saturdays, Sundays, and holidays, (c) words in the singular number include words of the plural number and vice versa, (d) the
word “group”
 4

   
 means two or more persons who agree to act in concert for the purpose of voting, acquiring, or holding any Shares, and (e) the word “person” includes, in
addition to a natural person, a group, trust, joint venture, limited liability company, unincorporated organization, government, public body or authority, and any governmental body, agency, authority, department, or subdivision, whether domestic or
foreign or local, state, regional, or national.
          2.       At Will
Employment. Subject to the terms and conditions of this Agreement, the Company shall employ Executive as its Vice President of Finance and Chief Accounting Officer, and Executive shall serve in
the employ of the Company in that capacity. Employment and compensation with the Company are “at will” and can be terminated with or without cause, at any time, at the option of the Company or Executive. The Company shall furnish at least
60 calendar days’ advance notice of a termination without Cause, or in lieu of the notice, pay Executive an amount equal to Annual Salary due for 60 calendar days. The terms of this Agreement, therefore, do not and are not intended to create
either an express or implied contract of employment with the Company for any particular period of time. No manager or representative of the Company, other than the Chief Executive Officer of the Company, has authority to enter into any agreement to
employ any person for any specified period of time or to make any agreement or contract with respect to the foregoing, and any promises to the contrary may be relied upon by Executive only if they are in writing and signed by the Chief Executive
Officer of the Company.
          3.       Duties.
Executive shall be responsible for such duties as are reasonable for an employee in such capacity and as from time to time are assigned to him by the Board or by the Chief Executive Officer of the Company. At all times while employed by the Company,
Executive shall serve and promote the business interests of the Company in good faith, with his full, best, and dedicated efforts, with fidelity and loyalty, in compliance with all rules, policies, practices, directives, and procedures of the
Company. Executive faithfully and industriously shall devote all normal working hours (subject to sick leave, vacation time, and outside endeavors provided for and permitted by the terms of this Agreement) to the good faith performance of his
duties.
          4.       Compensation. For all
services rendered to it by Executive, the Company shall pay to Executive base compensation at an annual rate established by the Board or the Company’s Chief Executive Officer, beginning on the Effective Date of this Agreement, payable in
arrears every two weeks in 26 equal, consecutive installments. This compensation may be changed from time to time at the discretion of the Company at any time before a Change of Control.
          5.       Severance Agreement.

	 	         (a)      Term. The agreements in this section 5 shall be in effect
for a term beginning on the execution date of this Agreement and ending automatically, without further obligation, on the earlier of (a) 24 months after the date of a Change in Control or (b) if occurring before the date of a Change in Control, when
Executive attains age 62 or ceases to be employed by the Company as its Vice President of Finance for any reason, including death, disability, demotion, resignation, or involuntary termination with or without cause. In addition, the Company
unilaterally may terminate this Agreement after the date of a Change in Control, without obligation to Executive, for Cause, Disability, or on the death of the Executive.

 5

	 	          (b)    Purpose. The purpose of this section 5 is to provide severance
compensation benefits to Executive if he suffers an involuntary or constructive termination of employment following a Change in Control. A Change in Control with or without the approval of the Board and the shareholders of the Company might
adversely affect Executive’s employment relationship with the Company. The benefits provided to Executive under this Agreement are in addition to all other benefits granted to Executive pursuant to this Agreement.

	 	         The Board has determined that providing severance compensation benefits to Executive is necessary to induce Executive to accept or continue employment with the
Company. Additionally, the Board has determined that providing severance compensation benefits to Executive upon an involuntary or constructive termination of his employment following a Change in Control will benefit the Company, its shareholders,
and its other corporate constituencies by: (a) enabling the Company to attract Executive and obtain the benefit of his special skills and abilities; (b) providing an incentive for Executive to acquire knowledge that is specific to the Company’s
business by rewarding Executive for faithful service to the Company; (c) encouraging Executive to forgo other employment opportunities that might provide greater job security, thereby improving the Company’s ability to retain Executive’s
valuable services; (d) alleviating any insecurity that Executive might have with respect to the potential adverse effect of a Change in Control on his future employment with the Company, thereby allowing Executive to focus his attention on managing
the Company; (e) aligning Executive’s economic interests with those of the Company’s shareholders, thus enhancing Executive’s ability, as a practical matter, to objectively evaluate possible transactions that would result in a Change
in Control and to act in the Company’s best interests without even the appearance of divided loyalty; and (f) reasonably compensating Executive for the wages and other tangible and intangible benefits that he would lose pursuant to a
termination of his employment with the Company as a result of a Change in Control and that he otherwise would reasonably expect to receive absent a Change in Control.	

	 	         (c)      Involuntary Termination.

	 	          (i)      Severance Payment. In the event of Executive’s Involuntary Termination within 24
months after the occurrence of a Change in Control, the Company shall pay to Executive within eight days after the termination of Executive’s employment with the Company, the following amounts as severance compensation benefits: (i) the full
amount of any earned but unpaid Annual Salary through the Severance Date, plus a cash payment (based on the Annual Salary) for all unused vacation time that has accrued through the Severance Date; (ii) a pro rata share of the annual bonus for the
year in which the Involuntary Termination occurs, calculated on the basis of Executive’s target bonus for that year on the assumption that all performance targets will be achieved; and (iii) the cash lump sum of two times Executive’s
Annual Cash Compensation on the date of the Change in Control. The Company shall pay to Executive, on demand, interest on any portion of the foregoing severance compensation benefit that is not paid to Executive when due, from the date when due
until paid in full, at the annual rate then provided by Florida law for the payment of interest on judgments generally.

 6

	 	           (ii)   Benefit Payment. In the event of his Involuntary Termination within 24 months after the date of a
Change in Control, Executive and his eligible dependents shall continue to be eligible to participate during the Benefit Continuation Period (as defined below) in the medical, dental, health, life and other fringe benefit plans and arrangements
applicable to Executive immediately prior to his Involuntary Termination on the same terms and conditions in effect for Executive and his dependents immediately prior to the Involuntary Termination. For purposes of the previous sentence,
“Benefit Continuation Period” means the period beginning on the Severance Date and ending on the earlier to occur of (i) the second anniversary of the Severance Date and (ii) the date that Executive and his dependents are eligible and
elect coverage under the plans of a subsequent employer which provide substantially equivalent or greater benefits to Executive and his dependents.

	 	          (iii)   Date and Notice of Termination. Any termination of Executive’s employment by the Company or by
Executive within 24 months following the date of a Change in Control shall be communicated by a notice of termination to the other party (the “Notice of Termination”). The Notice of Termination shall state the specific termination
provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of Executive’s employment under the provision so stated. The Severance Date shall be
determined as follows: (i) if Executive’s employment is terminated for Disability, 30 days after a Notice of Termination is given (provided that Executive has not returned to the full-time performance of his duties during such 30-day period),
(ii) if Executive’s employment is terminated by the Company in an Involuntary Termination, five days after the date the Notice of Termination is received by Executive, and (iii) if Executive’s employment is terminated by the Company for
Cause, the later of the date specified in the Notice of Termination or 10 days following the date such notice is received by Executive. If the basis for Executive’s Involuntary Termination is Executive’s resignation for a Constructive
Termination, the Severance Date shall be 10 days after the date Executive’s Notice of Termination is received by the Company. The Severance Date for a resignation of employment other than for a Constructive Termination shall be the date set
forth in the applicable notice, which shall be no earlier than 10 days after the date the notice is received by the Company.

	 	          (iv)    No Mitigation or Offset. Executive’s right to the foregoing severance compensation will be
conditioned on Executive’s execution of a release in favor of the Company in a form reasonably satisfactory to the Company. Executive does not have any duty to seek or obtain other employment after the termination of Executive’s employment
with the Company, whether voluntary or involuntary. Moreover, the Company shall pay to Executive the foregoing severance compensation benefits without reduction for any compensation that Executive earns or could earn from other employment. If the
Company unilaterally terminates this Agreement after the date of a Change in Control for any permissible reason set forth in section 5(a) of this Agreement, Executive will not be entitled to, and the Company will not have any obligation to Executive
for, the foregoing severance compensation benefits.

          6.         Employment Status. This Agreement does not constitute an employment agreement between the Company and Executive, but rather
provides for the payment of
 7

  severance compensation to Executive upon the termination of his employment with the Company under the conditions described in this Agreement (including the occurrence of a Change in
Control). This Agreement does not guarantee the continued employment of Executive by the Company or the payment of any other amount of compensation. Further, this Agreement does not restrict in any way the Company’s right to terminate
Executive’s employment with it at any time at will, before the date of a Change in Control.
          7.         Legal Matters. The validity, construction, enforcement, and interpretation of this Agreement are
governed by the laws of the State of Florida and the United States of America, excluding the laws of those jurisdictions pertaining to the resolution of conflicts with laws of other jurisdictions. If any dispute arises between Executive and the
Company with respect to this Agreement, either party may elect (but is not obligated) to submit the dispute to arbitration before a panel of arbitrators in accordance with the Florida Arbitration Code by giving the other party a notice of
arbitration in accordance with section 8 of this Agreement. If a party elects to arbitrate a dispute, arbitration will be the sole and exclusive method of resolving the dispute, the other party must arbitrate the dispute, and each party will be
barred from filing a lawsuit concerning the subject matter of the arbitration, except to obtain an equitable remedy.
          The arbitration panel will consist of
three arbitrators, with the first arbitrator selected by the Company, the second selected by Executive, and the third, neutral arbitrator selected by agreement of the first two arbitrators. Each party shall select an arbitrator and notify the other
party of the selection within 15 days after the effective date of the notice of arbitration and the two arbitrators selected by the parties shall select the third arbitrator within 30 days after the effective date of the notice of arbitration. A
party who fails to select an arbitrator within the prescribed 15-day period waives the right to select an arbitrator or to have an additional, neutral arbitrator selected by the arbitrator selected by the other party, and the arbitrator chosen by
the other party will constitute the “arbitration panel” for purposes of this Agreement.
          Every arbitrator must be independent (not a relative of
Executive or an officer, director, employee, or shareholder of the Company, the Company or any Subsidiary) without any economic or financial interest of any kind in the outcome of the arbitration. Each arbitrator’s conduct will be governed by
the Code of Ethics for Arbitrators in Commercial Disputes (1986) that has been approved and recommended by the American Bar Association and the American Arbitration Association.
          Within 120 days after the effective date of the notice of arbitration, the arbitration panel shall convene a hearing for the dispute to be held on such date and at such
time and place in Tampa, Florida, as the arbitration panel designates upon 60 days’ advance notice to Executive and the Company. The arbitration panel shall render its decision within 30 days after the conclusion of the hearing. The decision of
the arbitration panel will be binding and conclusive as to Executive and the Company and, upon the pleading of either party, any court having jurisdiction may enter a judgment of any award rendered in the arbitration, which may include an award of
damages. The arbitration panel shall hear and decide the dispute based on the evidence produced, notwithstanding the failure or refusal to appear by a party who has been duly notified of the date, time, and place of the hearing.
          Executive and the Company (a) consent to the personal jurisdiction of the state and federal courts having jurisdiction over Hillsborough County, Florida, (b) stipulate
that the
 8

  proper, exclusive, and convenient venue for any legal proceeding arising out of this Agreement is Hillsborough County, Florida, and (c) waive any defense, whether asserted by a motion or
pleading, that Hillsborough County, Florida, is an improper or inconvenient venue. EXECUTIVE KNOWINGLY, VOLUNTARILY, AND INTENTIONALLY WAIVES THE RIGHT TO A JURY TRIAL IN ANY LAWSUIT BETWEEN EXECUTIVE AND THE COMPANY WITH RESPECT TO THIS
AGREEMENT.
          In any mediation, arbitration, or legal proceeding arising out of this Agreement, the losing party shall reimburse the prevailing party, on
demand, for all costs incurred by the prevailing party in enforcing, defending, or prosecuting any claim arising out of this Agreement, including all fees, costs, and expenses of agents, experts, attorneys, witnesses, arbitrators, and supersedes
bonds, whether incurred before or after demand or commencement of legal or arbitration proceedings, and whether incurred pursuant to trial, appellate, mediation, arbitration, bankruptcy, administrative, or judgment-execution proceedings.

         8.         Notices. Every notice, demand,
or consent required or permitted under this Agreement will be valid only if it is in writing and delivered personally or by telex, telecopy, telegram, cablegram, commercial courier, or first-class, postage prepaid, United States mail (whether or not
certified or registered and regardless of whether a return receipt is requested or received by the sender), and addressed by the sender to the intended recipient at the address set forth in the preamble of this Agreement or to such other address as
the intended recipient has previously designated to the sender by notice given in accordance with this section. A validly given notice, demand, or consent will be effective on the earlier of its receipt, if delivered personally or by telex,
telecopy, telegram, cablegram, or commercial courier, or the third day after it is postmarked by the United States Postal Service, if delivered by first class, postage prepaid, United States mail.
          9.         Waiver; Modification; Severability. A waiver, amendment, cancellation, or modification of this Agreement will be valid and effective only if it is in writing and signed by or on behalf of both parties to this Agreement. No delay or course of dealing by a party to this
Agreement in exercising any right, power, or remedy under this Agreement will operate as a waiver of any right, power, or remedy of that party, except to the extent expressly manifested in writing by that party. The failure at any time of a party to
require performance by the other party of any provision of this Agreement will in no way affect the party’s right thereafter to enforce the provision or this Agreement. In addition, the waiver by either party of a breach of any provision of
this Agreement will not constitute a waiver of any succeeding breach of the provision or a waiver of the provision itself. Whenever possible, each provision of this Agreement should be construed and interpreted so that it is valid and enforceable
under applicable law on the effective date of this Agreement. If a court determines that the severance compensation benefit set forth in this Agreement is invalid or unenforceable under applicable law, Executive and the Company stipulate that the
court may reduce the amount of the severance compensation benefit to the extent necessary (but only to that extent) to make it valid and enforceable by Executive.
          10.       Miscellaneous. The headings preceding the text of the sections of this Agreement are solely for convenient reference
and neither constitutes a part of this Agreement nor affects its meaning, interpretation or effect. This Agreement records the final, complete, and exclusive understanding between the parties regarding the subject matter of it and supersedes
any
 9 
 

  prior or contemporaneous agreement, understanding, or representation, oral or written, by either of them. In particular, this Agreement cancels and supersedes any previous agreement between
Executive and the Company that provides for severance compensation following a Change in Control of the Company. Nothing in this Agreement, whether express or implied, is intended or should be construed to confer upon, or to grant to, any person,
except the Company, Executive and their respective heirs, assignees, and successors, any claim, right, remedy, or privilege under, or because of, this Agreement or any provision of it. This Agreement is binding on every assignee and successor of the
Company. The parties may execute this Agreement in counterparts. Each executed counterpart will constitute an original document, and all executed counterparts, together, will constitute the same agreement. This Agreement will become effective, as of
its stated date of execution, when each party has executed and delivered to the other party a counterpart of it.
 EXECUTED: as of April 1, 2002 in Tampa, Florida

	WITNESSES:	 	SRI/SURGICAL EXPRESS, INC., a Florida corporation
	 	 	By: 	
/s/ JAMES T. BOOSALES
	
			

	 	 	Name: 	James T. Boosales
	 	 	Title: 	Chief Financial Officer
	
			

	WITNESSES:	 	“EXECUTIVE”
	 	 	
/s/ CHARLES L. POPE
			

	 	 	(Signature)
	 	 	Charles L. Pope
	
		

	 	 	(Printed Name)
	 	 	11558 Monette Road
	
		

	 	 	(Street Address)
	 	 	Riverview, FL 33569
			

	 	 	(City, State and Zip Code)

 10Separation Agreement

   
 EXHIBIT 10.49
 SEPARATION AGREEMENT
          This is a SEPARATION AGREEMENT (the “Agreement”) between
RICHARD T. ISEL (“Isel”), a Florida resident, and SRI/SURGICAL EXPRESS, INC. (the
“Company”), a Florida corporation.
 Background
          Isel is retiring from his positions as Chairman, Chief Executive Officer, and a director of the Company. This Agreement provides for the Company to provide specified severance benefits to Isel as part of his retirement from the
Company.
 Operative Terms
          Isel and the Company agree as follows:
          1.       Separation Compensation. Isel retires as an officer and director of the
Company, effective August 15, 2002. The Company shall, within five days after the effective date of this Agreement, pay to Isel one (1) year of severance compensation at Isel’s base salary level in effect on the date of this Agreement. These
payments will be subject to applicable tax withholding and other deductions and will be in lieu of, and not in addition to, any payments described in the Retention Agreement dated July 23, 1996, between Isel and the Company.
          2.       Additional Separation Benefits. Through the first anniversary of this
Agreement, the Company will fund Isel’s continued participation in the Company’s group medical and dental programs pursuant the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA). The Company will also pay premiums due before
the first anniversary of this Agreement with respect to the life insurance policy in Isel’s name in the face amount of $1,000,000 issued by Federal Kemper Life Assurance Company, and will also assign to Isel its ownership of the policy. As of
the date of this Agreement, Isel will no longer be eligible to participate in any other benefit programs offered to employees by the Company, including vacation, 401(k) plan, short-term and long-term disability, travel and accident, and independent
life insurance programs.
          3.       Benefits of the Agreement. Isel
acknowledges that he would not be entitled to the separation benefits described in Sections 1 and 2 of this Agreement in the absence of this Agreement. All of these separation benefits are conditioned on Isel’s performance of all of his
obligations under this Agreement.
          4.       Releases. 

	 	         (a)      Isel’s Full General Release of Claims Against the Company.Isel, for himself and for his heirs, successors, and assigns, irrevocably and unconditionally releases and forever discharges the Company, its subsidiaries and affiliates, and all of their successors, assigns,
officers, directors, representatives, agents, employees, associates and all other persons acting for or on behalf of them, from all claims,

  

   
 
 
	 	complaints, liabilities, agreements, damages, costs, debts, and expenses of any kind, whether known or unknown, including all claims in connection with Isel’s employment with the Company, including without
limitation, any claim for continued or future employment or for payment of wages or salary, or any other payment, pursuant to any agreement, whether written or unwritten, or arising out of any employment relationship with the Company. Without
limitation, Isel releases and waives all claims under Title VII of the Civil Rights Act of 1964, as amended; (42 U.S. C. § 2000e, et seq.); the Civil Rights Acts of 1866, 1871 and 1991, all as
amended; 42 U.S.C. § 1981; the Family and Medical Leave Act of 1993, as amended (29 U.S.C. § 2601, et seq.); the Americans With Disabilities Act, as amended (42 U.S.C. § 12101,
et seq.); the Rehabilitation Act of 1973, as amended (29 U.S.C. § 793-94); the Fair Labor Standards Act, as amended (29 U.S.C. § 201, et. seq.);
the Equal Pay Act of 1963, as amended (29 U.S.C. § 206); the Employee Retirement Income Security Act, as amended (29 U.S.C. § 1001, et seq.); the Consolidated Omnibus Budget Reconciliation Act
of 1985 (29 U.S.C. § 1161, et seq.); the Age Discrimination in Employment Act (29 U.S.C. § 621 et seq.); the Older Workers Benefit Protection Act
of 1990 (29 U.S.C. § 623); Chapter 760 of the Florida Civil Rights Act of 1992, as amended; the Florida General Labor Regulations, as amended; and any similar local ordinance; workers’ compensation statutes; and any other applicable
federal, state or local statute, rule, regulation or ordinance relating to discriminatory hiring or employment practices or civil rights laws based on protected class status; common law claims, including claims of intentional or negligent infliction
of emotional distress, negligent hiring, breach of a covenant of good faith and fair dealing, promissory estoppel, negligence or wrongful termination of employment; and all other claims of any kind, including but not limited to any claims for
attorneys’ fees. Notwithstanding the foregoing, Isel retains and does not release the Company from his rights under the Indemnification Agreement dated as of May 26, 1996, any indemnification rights to which he is entitled under the
Company’s bylaws, and all other indemnification rights to which he is entitled under applicable law.	

	 	         (b)      The Company’s Release of Isel. The Company, for itself and for its successors
and assigns, irrevocably and unconditionally releases and forever discharges Isel from all claims, complaints, liabilities, obligations, promises, agreements, damages, causes of action, costs, losses, debts, and expenses of any kind, but this
release does not extend to the following: (1) any of Isel’s actions or omissions of which the Company does not have knowledge as of the date of this Agreement, (2) Isel’s covenants in this Agreement and in Isel’s other written
agreements with the Company, and (3) any rights of the Company with respect to matters that are the subject of pending litigation or other legal proceedings against the Company. The Company acknowledges that it is not aware of any claims that it has
against Isel arising from the pending litigation, other legal proceedings, or otherwise.

          5.       Confidentiality and Other Obligations. Isel shall not disclose to any person (other than immediate family members and if necessary, medical or
legal advisors) any information regarding the existence or content of this Agreement, except as required by court order or governmental authority, and only after giving the Company at least ten days prior written notice of the proposed disclosure.
Isel shall refer to the Company’s Chief Financial Officer any inquiries regarding the circumstances of his employment separation. Isel
 2

  
 acknowledges that the records, information, files, lists, operations data, and other materials of the Company belong exclusively to the Company, and are
confidential, and that information regarding the Company’s customers or other organizations with which it does business is the exclusive property of the Company and is confidential. Isel shall not use or disclose any such confidential
information for the benefit of himself or another person, and shall treat all such information as confidential unless he has specific prior written authorization from the Company to use or disclose. Isel reconfirms his obligations and covenants set
forth in Sections 4, 5, and 6 of his Employment Agreement dated July 23, 1996, with the Company, which is attached as Exhibit A, and confirms that his employee non-solicitation obligation in that agreement extends to any company engaged in a medical
device manufacture or supply business. The Company will consider any request of Isel for permission to contact one its employees regarding a job opportunity.
          6.       Return of All Company Property. Isel acknowledges and confirms that he has returned to the Company all property of the Company in his possession
or under his control, except that Isel may retain his cell telephone and laptop computer. Isel shall furnish the Company an opportunity to remove from the computer all Company-related information.
          7.       Cooperation. As reasonably requested by the Company, Isel shall cooperate
and consult with the Company in connection with its pending litigation and other legal proceedings, as well as any transition of projects. The Company will instruct its officers and directors not to discuss with Isel confidential information
regarding the Company. Isel shall not receive any more compensation for this cooperation and consulting, but the Company shall pay reasonable out-of-pocket expenses that it approves in advance. Isel shall not make disparaging statements, written or
oral, in any forum or media, regarding the Company, its directors, officers, employees, policies, products, processes, operations, or facilities, and shall not comment publicly regarding the Company’s pending legal matters. Neither the Company
nor any of its directors or officers shall make any disparaging statements regarding Isel. If Company representatives are contacted seeking information regarding him, the Company shall provide the following information:

	 		Richard T. Isel, one of the founders of SRI/Surgical Express, Inc., served as Chairman, Chief Executive Officer, and a director of the company since its inception in 1994. Mr. Isel has retired from his positions with
the company effective as of August 15, 2002. The company appreciates Mr. Isel’s highly valuable contributions to the company, and wishes him a most enjoyable retirement.

 The Company
shall take reasonable measures to assure that inquiries concerning Isel are referred to the Company’s Chief Financial Officer and that his statements concerning Isel (oral or written) are limited to this language, except as otherwise required
by law. Isel will refer to the Company (and not personally make any comment in response to) any press inquiries regarding the circumstances of his retirement.
          8.       Isel’s Review of this Agreement; Revocation; Legal Counsel. Isel acknowledges that he has read each section of this Agreement and
understands his rights and obligations. Isel acknowledges that he has been offered 21 days to consider signing this Agreement. Isel further acknowledges that he will have seven days following the signing of this
 3

  
 Agreement to revoke it, and that the Agreement will not become effective until the expiration of this seven day revocation period. Isel has had an opportunity to
consult with his attorney before signing this Agreement and confirms that his signature on this Agreement is knowing and voluntary. Each party to this Agreement acknowledges that Hill, Ward and Henderson, P.A. acted as counsel to the Company in this
transaction. 
          9.       Costs and Expenses with Respect to this Agreement.Isel and the Company shall bear their own costs and expenses expended in connection with this Agreement.
          10.      Complete Agreement.This Agreement records the final, complete and exclusive understanding among the
parties with respect to the transactions described in it and supersedes any prior or contemporaneous agreement, understanding or representation, oral or written, by any of them.
          11.      Execution and Effective Date. The parties may execute this Agreement in
counterparts. Each executed counterpart will be considered an original document and all executed counterparts, together, will constitute the same Agreement. This Agreement will become effective seven days after both parties have signed
it.
          12.      Amendment and Assignment. An amendment or modification of
this Agreement or any provision of it will be valid and effective only if it is in writing and signed by each party to this Agreement. This Agreement is not assignable by either party without the prior written consent of the other party, and any
attempted assignment by either party without the prior written consent of the other party will be invalid and unenforceable.
          13.      Legal Proceedings; Governing Law.Each party to this Agreement (a) consents to the personal
jurisdiction of the state and federal courts having jurisdiction in Hillsborough County, Florida (b) stipulates that the proper, exclusive, and convenient venue for any legal proceeding arising out of this Agreement is Hillsborough County, Florida,
for state court proceedings, and (c) waives any defense, whether asserted by a motion or pleading, that Hillsborough County, Florida, or the Middle District of Florida, is an improper or inconvenient venue. 
          In any mediation or litigation (including appellate proceedings) arising out of this Agreement, the losing party shall reimburse the prevailing party, on demand, for all
costs and expenses (including legal fees, costs, and expenses) that are incurred by the prevailing party as a result of the mediation or litigation. The laws of the State of Florida and the federal laws of the United States of America, excluding the
laws of those jurisdictions pertaining to the resolution of conflicts with laws of other jurisdictions, govern the validity, construction, enforcement, and interpretation of this Agreement.
          14.      Notices. Unless this Agreement expressly permits it to be given orally, every
demand, notice, consent, or approval required or permitted to be given by a party under this Agreement will be valid only if it is (a) in writing (whether or not the applicable provision of this Agreement states that it must be in writing), (b)
delivered personally or by telecopy, commercial courier, or first class, postage prepaid, United States mail (whether or not certified or registered and regardless of whether a return receipt is requested or received by the sender), and
(c)
 4

  
 addressed by the sender to the intended recipient as follows:

	 	(a)	 	If to the Company:

	 		SRI/Surgical Express, Inc.
12425 Racetrack Road
Tampa, Florida 33626
Attention: Charles L. Pope

	 		with a copy to:

	 		Hill, Ward & Henderson, P.A.
101 East Kennedy Boulevard
Suite 3700
Tampa, Florida 33602
Attention: David S.
Felman

	 	(b)	 	If to Richard T. Isel:
3035 Turtlebrooke
Clearwater, Florida 33726

 or to such other address as the intended recipient
may designate by notice given to every other party to this Agreement in the manner provided in this Section. A validly given demand, notice, consent, or approval will be effective on the earlier of its receipt by personal delivery or by telecopy or
commercial courier. Each party to this Agreement shall promptly notify every other party of any change in its mailing address.
 EXECUTED: As of August 15, 2002.

		 	SRI/SURGICAL EXPRESS, INC.,
a Florida corporation
	
	 	By: 	
    /s/ CHARLES L. POPE
				

	 	 	 	Charles L. Pope
Senior Vice President

		 	 	 
	
	 	 	
            /s/ RICHARD T. ISEL
				

	 	 	 	RICHARD T. ISEL, individually

 5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00044-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00044-of-00352.parquet"}]]