Document:

CONFIDENTIALITY AGREEMENT

 

Exhibit 4.1

CONFIDENTIALITY AGREEMENT

	 	 	 	 	 
	 

	 	March 3, 2004
	 	 

Michael Bresson

General Counsel

Apogent Technologies Inc.

30 Penhallow Street

Portsmouth, NH 03801

	 	Re:	 	Confidentiality Agreement

Dear Mr. Bresson:

               In connection with Fisher Scientific International Inc.’s (“Fisher”) and
Apogent Technologies Inc.’s (“Apogent”) consideration of a possible transaction
(a “Transaction”) between Fisher and Apogent, Fisher will make available to
Apogent and its Representatives (as defined below) certain information
concerning the business, financial condition, operations, assets, plans,
prospects and liabilities of Fisher and Apogent will make available to Fisher
and its Representatives certain information concerning the business, financial
condition, operations, assets, plans, prospects and liabilities of Apogent.
All such information (whether written or oral) of any kind furnished in
connection with the Transaction (whether before or after the date hereof) by
either party or its affiliates or its or such affiliates’ respective directors,
officers, employees, representatives (including, without limitation, financial
advisors, attorneys and accountants) or agents (collectively, with respect to
either party, its “Representatives”) to the other party or such other party’s
Representatives and all analyses, notes, studies, interpretations,
compilations, forecasts, studies or other documents prepared by either party or
its respective Representatives in connection with the review of, or interest
in, a Transaction which contain or reflect any such information is referred to
as the “Information.” The term Information will not, however, include
information which (i) is or becomes publicly available other than as a result
of a disclosure by either party or its respective Representatives in violation
of this letter agreement or (ii) is or becomes available to either party on a
nonconfidential basis from a source which, to the best of such party’s
knowledge, is not prohibited from disclosing such information to such party by
a legal, contractual or fiduciary obligation to the other party.

               In furtherance of the foregoing and as a condition to the provision of any
Information by either party, each of Fisher and Apogent hereby acknowledges and
agrees as follows:

               It and its Representatives (i) will keep the Information confidential in
accordance with the terms of this letter agreement and will not (except as
required by applicable law, regulation or legal process, and only after
compliance with paragraph 3 below), without the other party’s prior written
consent, disclose any Information in any manner whatsoever and (ii) will not
use any Information other than in connection with the evaluation of a
Transaction; provided, however, that it may disclose the Information to its
Representatives (a) who need to know the Information for the purpose of
evaluating a Transaction, (b) who are informed by it of the

 

 

confidential nature of the Information and (c) who agree to act in
accordance with the terms of this letter agreement. It will cause its
Representatives to observe the terms of this letter agreement, and it will be
responsible for any breach of this letter agreement by any of its
Representatives.

               Neither it nor its Representatives will (except as required by applicable
law, regulation or legal process, and only after compliance with paragraph 3
below), without the prior written consent of the other party, disclose to any
person the fact that the Information exists or has been made available, that a
Transaction is under consideration, or that discussions or negotiations are
taking or have taken place concerning a Transaction or any term, condition or
other fact relating to a Transaction or such discussions or negotiations,
including, without limitation, the status thereof.

               In the event that it or any of its Representatives are requested pursuant
to, or required by, applicable law, regulation or legal process to disclose any
of the Information or any other matter covered by this letter agreement, it
will notify the other party promptly so that such other party may seek a
protective order or other appropriate remedy, or, in its sole discretion, waive
compliance with the terms of this letter agreement. In the event that no such
protective order or other remedy is obtained, or, that the other party does not
waive compliance with the terms of this letter agreement, it will furnish only
that portion of the Information or other information covered by paragraph 2
which it is advised by its counsel is legally required.

               If a party determines not to proceed with a Transaction, it will promptly
inform the other party of that decision and, in that case, and at any time upon
the request of such other party, it will either (i) promptly destroy all copies
of the Information in written or other recorded form in its or its
Representatives’ possession and confirm such destruction to such other party in
writing or (ii) promptly deliver to such other party at its own expense all
copies of the Information in its or its Representatives’ possession. Any
Information will continue to be subject to the terms of this letter agreement.

               Neither Fisher or Apogent, as applicable, nor its Representatives, nor any
of its or their respective officers, directors, employees, agents or
controlling persons within the meaning of Section 20 of the Securities Exchange
Act of 1934, as amended, makes any express or implied representation or
warranty as to the accuracy or completeness of the Information, and it agrees
that no such person will have any liability relating to the Information or for
any errors therein or omissions therefrom. Each party further agrees that it
is not entitled to rely on the accuracy or completeness of the Information and
that it will be entitled to rely solely on such representations and warranties
as may be included in any definitive agreement with respect to a Transaction,
subject to such limitations and restrictions as may be contained therein. The
investigation and evaluation of Information by each party and its
Representatives is entirely at its own expense and risk. Further, neither
party is under any duty or obligation to provide the other party or its
Representatives with access to any information.

               For a period of two (2) years from the date of this letter agreement,
neither it nor any of its controlled affiliates will, directly or indirectly,
solicit for employment or hire any employee of the other party or any of its
controlled affiliates (other than clerical or other support staff) with whom it
or its Representatives have had contact or who became known to it or its
Representatives in connection with its consideration of a Transaction. It is
understood and agreed that a general advertisement placed by either party or
its agents not directed toward any employee or group of employees described in
the preceding sentence and any hiring resulting therefrom shall not constitute
a solicitation or hiring prohibited by this paragraph.

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               Each party also agrees that for two years after the date hereof that it
will not, nor permit its affiliates to, without the prior written consent of
the other party: (i) acquire, offer or propose to acquire, or agree or seek to
acquire, directly or indirectly, by purchase or otherwise, any securities or
direct or indirect rights or options to acquire any securities of the other
party or any subsidiary thereof, or of any successor to or person in control of
the other party, or any assets of the other party or any subsidiary or division
thereof or of any such successor or controlling person; (ii) enter into or
agree, offer, propose or seek to enter into, or otherwise be involved in or
part of, directly or indirectly, any acquisition transaction or other business
combination relating to all or part of the other party or its subsidiaries or
any acquisition transaction for all or part of the assets of the other party or
any subsidiary of the other party or any of their respective business; (iii)
make, or in any way participate in, directly or indirectly, any “solicitation”
of “proxies” (as such terms are used in the rules of the Securities and
Exchange Commission) to vote, or seek to advise or influence any person or
entity with respect to the voting of, any voting securities of the other party;
(iv) form, join or in any way participate in a “group” (within the meaning of
Section 13(d)(3) of the Securities Exchange Act of 1934) with respect to any
voting securities of the other party or any of its subsidiaries; (v) seek or
propose, alone or in concert with others, to influence or control the other
party’s management or policies; (vi) directly or indirectly enter into any
discussions, negotiations, arrangements or understandings with any other person
with respect to any of the foregoing activities or propose any of such
activities to any other person; (vii) advise, assist, encourage, act as a
financing source for or otherwise invest in any other person in connection with
any of the foregoing activities; or (viii) disclose any intention, plan or
arrangements inconsistent with any of the foregoing. Each party also agrees
that, during the two-year period referred to in the prior sentence, neither
party nor any of its affiliates will: (i) request the other party or its
Representatives, directly or indirectly, to (1) amend or waive any provision of
this paragraph (including this sentence) or (2) otherwise consent to any action
inconsistent with any provision of this paragraph (including this sentence); or
(ii) take any initiative with respect to the other party or any of its
subsidiaries which could require the other party to make a public announcement
regarding (1) such initiative, (2) any of the activities referred to in the
second preceding sentence, (3) the possibility of a Transaction or any similar
transaction or (4) the possibility of such party or any other person acquiring
control of the other party, whether by means of a business combination or
otherwise.

               Until either party determines not to proceed with a Transaction, each
party agrees on its behalf and on behalf of its Representatives not to initiate
or maintain contact with any officer, director, employee or agent of the other
party or its subsidiaries, other than Frank H. Jellinek, Jr. (or his
designee(s)) in the case of Apogent and Paul M. Meister (or his designee(s)) in
the case of Fisher regarding its business, operations, prospects, or finances
except for those contacts made in the ordinary course of business and except
with the express permission of the other. It is further understood that all
(a) requests for information or other requests regarding the due diligence
process and (b) requests for access to facilities or management meetings will
be first submitted and directed to the appropriate representatives of Lehman
Brothers in the case of Apogent and Goldman Sachs in the case of Fisher.

               No contract or agreement providing for a Transaction involving Fisher and
Apogent will be deemed to exist between them unless and until a final
definitive agreement has been executed and delivered by each of them, and it
waives, in advance, any claims (including, without limitation, breach of
contract) in connection with a Transaction involving Fisher and Apogent unless
and until Fisher and Apogent shall have entered into a final definitive
agreement. It also agrees that unless and until a final definitive agreement
regarding a Transaction between Fisher and Apogent has been executed and
delivered by each of them, neither Fisher nor Apogent

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will be under any legal obligation of any kind whatsoever with respect to
a Transaction by virtue of this letter agreement except for the matters
specifically agreed to herein.

               Each party hereby acknowledges that it is aware, and that it will advise
its Representatives, that the United States securities laws prohibit any person
who is aware of material, non-public information concerning the matters which
are the subject of this letter agreement from purchasing or selling securities
of a company which may be a party to a transaction of the type contemplated by
this agreement or from communicating such information to any other person under
circumstances in which it is reasonably foreseeable that such person is likely
to purchase or sell such securities.

               Remedies at law are inadequate to protect either party against a breach or
threatened breach of the other party’s obligations hereunder, and that either
party shall, in addition to available remedies at law, be entitled to
injunctive relief in the event of a breach or threatened breach by the other
party.

               No failure or delay by either party in exercising any of its rights,
powers or privilege hereunder will operate as a waiver thereof, nor will any
single or partial exercise thereof preclude any other or further exercise
thereof or the exercise of any right, power or privilege hereunder.

               This letter agreement will be governed by and construed in accordance with
the laws of the State of New York applicable to contracts between residents of
that State and executed in and to be performed in that State.

               This letter agreement contains the entire agreement between the parties
concerning the confidentiality of the Information, and no modifications of this
letter agreement or waiver of the terms and conditions hereof will be binding
upon either party unless approved in writing by both parties.

               This letter agreement may be executed in one or more counterparts, all of
which shall be considered one and the same agreement and shall become effective
when two or more counterparts have been signed by each of the parties and
delivered to the other parties.

[Remainder of page intentionally left blank.]

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               Please sign and return to the undersigned the duplicate copy of this
letter enclosed herewith.

	 	 	 	 	 	 	 
	 	 	Very truly yours,
	 
	 	 	 	 	 	 
	 	 	FISHER SCIENTIFIC
	 	 	INTERNATIONAL INC.
	 
	 	 	 	 	 	 
	 	 	By:	 	/s/ Todd M. DuChene
	 	 	 	 	
 
	

	 	 	 	Name:
	 	Todd M. DuChene
	

	 	 	 	Title:
	 	Vice President, General

Counsel and Secretary

Accepted and agreed as of

the date first written above:

	 	 	 	 	 
	APOGENT TECHNOLOGIES INC.
	 
	 	 	 	 
	By:

	 	/s/ Michael Bresson	 	 
	

	 	

	 	 
	

	 	Name: Michael Bresson	 	 
	

	 	Title: General Counsel	 	 

5FRANK H. JELLINEK, JR. EMPLOYMENT AGREEMENT

 

Exhibit 10.1

EMPLOYMENT AGREEMENT

This Employment Agreement (sometimes, “Agreement”) is made and entered into as
of the Closing Date (as defined below) between Fisher Scientific International
Inc., a Delaware corporation (“Employer” or “Company”), Apogent Technologies
Inc., a Wisconsin corporation (“Former Employer”), and Frank H. Jellinek, Jr.
(“Employee”).

WITNESSETH:

WHEREAS, Former Employer and Employee are parties to an employment agreement
dated as of September 8, 2003 (the “Former Employment Agreement”);

WHEREAS, Former Employer entered into an Agreement and Plan of Merger with the
Company and Fox Merger Corporation dated March 17, 2004 (the “Merger
Agreement”);

WHEREAS, in connection with the transactions contemplated in the Merger
Agreement, the Company and the Employee desire to enter into this Employment
Agreement relating to the employment of the Employee by the Company; and

WHEREAS, Company and Employee intend that the Employment Agreement supercede
and replace the Former Employment Agreement in its entirety;

NOW, THEREFORE, Employee and Employer, in consideration of the agreements,
covenants and conditions herein, hereby agree as follows:

     1. Basic Employment Provisions.

          (a) Employment and Term. Effective as of the Closing Date (as defined in
the Merger Agreement), Employer hereby employs Employee as Chairman Emeritus
and Employee agrees to be employed by Employer in such capacity, for a period
commencing on the Closing Date and continuing thereafter until terminated, by
one of the means provided herein, by the Employee or Employer.

          (b) Duties. Employee shall, as Chairman Emeritus, be subject to the
direction and supervision of the Chairman or Vice Chairman of the Board of
Directors of Employer (the “Board”). Employee shall have those duties and
responsibilities that are assigned to him by the Chairman or Vice Chairman of
the Board, which duties Employee shall faithfully perform to the best of his
abilities. Employee shall be required to devote his full working time to the
performance of his duties hereunder; provided, however, that nothing herein
shall prevent Employee from performing his duties hereunder from time to time
from Sun Valley, Idaho.

 

 

     2. Compensation.

          (a) Salary.

               (i) As base compensation for the services to be rendered by Employee
hereunder, Employer shall pay to Employee an initial annual base salary at the
rate of $803,000. Such salary shall accrue and be payable in accordance with
the payroll practices of Employer in effect from time to time. All such
payments shall be subject to any deductions and withholdings required by
applicable law.

               (ii) During his employment by Employer, Employee shall be eligible for
consideration for merit salary increases. Such increases shall be at the sole
discretion of the Board and nothing herein contained shall be construed as
granting Employee a vested right to any such increases.

               (iii) If during his employment, Employee fails to perform his duties on
account of illness or other incapacity, his base salary will be reduced by the
amount of any statutory disability benefits and disability income benefits
which he receives.

          (b) Benefits. In addition to his salary, Employee shall be entitled,
while employed by Employer, to employee benefits (including, without
limitation, long-term care insurance benefits to be reimbursed by the Employee)
and other benefits provided to him by the Former Employer prior to the Closing
Date (which benefits may be amended in the same manner as benefits applicable
to senior executives of Former Employer; provided, however, that in no event
may such benefits be less than the benefits to which Employee was entitled
immediately prior to the Closing Date and in no event may his benefits under
the Sybron Corporation Unfunded Salaried Pension Plan, effective January 1,
1976, as amended and restated January 1, 1993, be reduced) (“Benefit Plans”)
and to participate in the Employer’s equity-based compensation plans; provided,
however, that the Employee shall not be eligible to participate in any bonus or
incentive compensation plans of the Employer or Former Employer.

          (c) Expense Reimbursement. During his employment, Employer shall
reimburse Employee, upon the submission of properly documented expense account
reports, for all reasonable travel and entertainment expenses incurred by
Employee in the course of his employment with Employer.

     3. Termination of Employment.

          (a) Employee may terminate his employment with Employer for any reason, at
any time, by providing Employer with a written notice, at least forty-five (45)
days in advance of the termination date, of his desire to terminate his
employment.

          (b) The Board may terminate Employee’s employment with Employer for any
reason or no reason, by providing Employee with a written notice, at least
ninety (90)

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days in advance of the termination date, of its desire to terminate
Employee’s employment.

          (c) The Board may terminate Employee’s employment with Employer for cause,
at any time, with or without advance notice. For the purposes of this
Agreement, “cause” shall be deemed to be a willful and material breach of this
Agreement, fraud, dishonesty, competition with Employer or any subsidiary or
affiliate of Employer, unauthorized use of Employer’s or any of its
subsidiaries’ or affiliates’ trade secrets or confidential information or
continued gross neglect by Employee of the duties assigned to him (if such
neglect continues for 30 days after written notice by the Board to Employee
specifying the duties being neglected by Employee).

          (d) Employee’s employment with Employer shall terminate automatically upon
the death of Employee.

          (e) The Board may terminate Employee’s employment with Employer at any
time, with or without advance notice, upon the total disability of Employee.
For the purposes of this Agreement, “total disability” shall be deemed to have
occurred if Employee shall have been unable to perform his duties hereunder due
to mental or physical incapacity for a period of six consecutive months.

     4. Compensation Upon Termination.

          (a) If Employee’s employment is terminated by the Employer for any reason
other than cause (including termination of Employee’s employment due to
Employee’s death), Employee (or in the event of termination of employment due
to Employee’s death, Employee’s spouse or estate) shall be entitled to continue
to receive, from the date the employment terminates, (i) Employee’s then
current monthly base salary for a period of twenty-four (24) months and (ii)
the benefit set forth in Section 4(d).

          (b) If Employee’s employment is terminated by the Employee for any reason
(an “Employee Termination”), the Employee shall be entitled to continue to
receive, (i) for a 24-month period following such Employee Termination, a
monthly amount equal to 50% of the Employee’s monthly base salary as of the
termination date and (ii) the benefit set forth in Section 4(d).

          (c) Upon any termination of Employee’s employment, the Company shall pay
to Employee, in addition to (i) accrued but unpaid (1) base salary and (2)
vacation pay and (ii) any unreimbursed expenses that have been properly
incurred by Employee, all amounts to which Employee is entitled under any of
the Benefit Plans (including, without limitation, Employee’s benefit due under
any supplemental executive retirement program) in accordance with the terms of
such plans. Any payments due under a Benefit Plan shall be made at the time
the payments are due under the terms of the Benefit Plan.

          (d) Following (i) termination of Employee’s employment by the Employer for
any reason other than cause or (ii) an Employee Termination, for the longer of
(A) twenty-four

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(24) month period after termination of Employee’s employment and (B) the
period ending on Employee’s 65th birthday, the Company shall arrange to provide
Employee with health insurance benefits substantially similar to those which
Employee was receiving or entitled to receive immediately prior to the
termination; provided, however, that such health insurance benefits shall be
reduced to the extent comparable benefits are actually received by Employee
during such period, and any such benefits actually received by Employee shall
be reported to the Company.

          (e) Employee shall not be required to mitigate the amount of any payment
provided for in this Section 4 by seeking other employment or otherwise nor
(except as otherwise provided in this Section 4) shall the amount of any
payment or benefit provided for in this Section 4 be reduced by any
compensation earned by Employee as the result of employment by another employer
or by retirement benefits received after the date of termination.
Notwithstanding the above, any payments provided for in this Section 4 shall be
reduced by the amount of any statutory disability benefits and disability
income benefits received by the Employee with respect to the same period.

     5. Certain Additional Payments by the Company.

          (a) If as a result of payments by the Company, the Former Employer, or any
other person or entity (whether pursuant to this Employment Agreement or
otherwise), the Employee is required, pursuant to Section 4999 of the Code of
1986, as amended, (the “Code”), to pay an excise tax (the “Excise Tax”) on
“excess parachute payments” as defined in Section 280G of the Code, the Company
shall promptly pay the Employee the amount or amounts (a “Gross-Up Payment”)
that are necessary to place the Employee in the same after-tax financial
position that he would have been in if he had not incurred any tax liability
under Section 4999 of the Code.

          (b) The Employee shall notify the Company in writing of any claim by the
Internal Revenue Service that, if successful, would require the payment by the
Company of the Gross-Up Payment. Such notification shall be given as soon as
practicable but no later than ten business days after the Employee is informed
in writing of such claim and shall apprise the Company of the nature of such
claim and the date on which such claim is requested to be paid. The Employee
shall not pay such claim prior to the expiration of the 30-day period following
the date on which it gives such notice to the Company (or such shorter period
ending on the date that any payment of taxes with respect to such claim is
due). If the Company notifies the Employee in writing prior to the expiration
of such period that it desires to contest such claim, the Employee shall:

               (i) Give the Company any information reasonably requested by the Company
relating to such claim,

               (ii) Take such action in connection with contesting such claim as the
Company shall reasonably request in writing from time to time, including,
without limitation, accepting legal representation with respect to such claim
by an attorney reasonably selected by the Company,

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               (iii) Cooperate with the Company in good faith in order effectively to
contest such claim, and

               (iv) Permit the Company to participate in any proceedings relating to such
claim; provided, however, that the Company shall bear and pay directly all
costs and expenses (including additional interest and penalties) incurred in
connection with such contest and shall indemnify and hold the Employee
harmless, on an after-tax basis, for any Excise Tax or income tax (including
interest and penalties with respect thereto) imposed as a result of such
representation and payment of costs and expenses. Without limitation on the
foregoing provisions, the Company shall control all proceedings taken in
connection with such contest and, at its sole option, may pursue or forego any
and all administrative appeals, proceedings, hearings and conferences with the
taxing authority in respect of such claim and may, at its sole option, either
direct the Employee to pay the tax claimed and sue for a refund or contest the
claim in any permissible manner, and the Employee agrees to prosecute such
contest to a determination before any administrative tribunal, in a court of
initial jurisdiction and in one or more appellate courts, as the Company shall
determine; provided, however, that if the Company directs the Employee to pay
such claim and sue for a refund, the Company shall advance the amount of such
payment to the Employee, on an interest-free basis and shall indemnify and hold
the Employee harmless, on an after-tax basis, from any Excise Tax or income tax
(including interest or penalties with respect thereto) imposed with respect to
such advance or with respect to any imputed income with respect to such
advance. Furthermore, the Company’s control of the contest shall be limited to
issues with respect to which a Gross-Up Payment would be payable hereunder and
the Employee shall be entitled to settle or contest, as the case may be, any
other issue raised by the Internal Revenue Service or any other taxing
authority.

     6. Assignment.

          (a) The Company will require any successor (whether direct or indirect, by
purchase, merger, consolidation or otherwise) to all or substantially all of
the business and/or assets of the Company to assume and agree to perform this
Agreement in the same manner and to the same extent that the Company would be
required to perform it if no such succession had taken place. Failure of the
Company to obtain such assumption and agreement prior to the effectiveness of
any such succession shall be a breach of this Agreement and shall entitle
Employee to compensation from the Company in the same amount and on the same
terms as Employee would be entitled hereunder if Employer had terminated
Employee’s employment hereunder without cause.

          (b) This Agreement shall inure to the benefit of and be enforceable by
Employee’s personal or legal representatives, executors, administrators,
successors, heirs, distributees, devisees and legatees. If Employee should die
while any amount would still be payable to him hereunder if Employee had
continued to live, all such amounts, unless otherwise provided herein, shall be
paid in accordance with the terms of this Agreement to Employee’s spouse or, if
there is no spouse, to Employee’s estate.

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     7. Confidential Information.

          (a) Non-Disclosure. During Employee’s employment or at any time
thereafter, irrespective of the time, manner or cause of the termination of
this Agreement, Employee will not directly or indirectly, reveal, divulge,
disclose or communicate to any person or entity other than authorized officers,
directors and employees of Employer, in any manner whatsoever, any Confidential
Information (as hereinafter defined) of Employer without the prior written
consent of the Company, except in connection with the fulfillment of his duties
hereunder.

          (b) Definition. As used herein, “Confidential Information” means
information disclosed to or known by Employee as a direct or indirect
consequence of or through his association with Employer and its subsidiaries
and affiliates, about Employer or any subsidiary or affiliate of Employer,
their businesses, products and practices, including but not limited to trade
secrets, know-how, technical information, and financial information, which
information is not generally known in the business in which Employer or any
subsidiary of Employer is or may become engaged. However, Confidential
Information shall not include any information which is (i) available to the
public from a source other than Employee, (ii) released in writing by Employer
to the public or to persons who are not under a similar obligation of
confidentiality to Employer and who are not parties to this Agreement, (iii)
obtained by Employee from a third party not under a similar obligation of
confidentiality to Employer, or (iv) required to be disclosed by any court
process or any government or agency or department of any government.

          (c) Return of Property. Upon termination of Employee’s employment,
Employee will surrender to Employer all Confidential Information, including
without limitation, all lists, charts, schedules, reports, financial
statements, books and records of Employer and all subsidiaries and affiliates
of Employer, and all copies thereof, and all other property belonging to
Employer and all subsidiaries and affiliates of Employer, provided that
Employee shall be accorded reasonable access to such materials subsequent
thereto for any proper purpose as determined in the reasonable judgment of
Employer.

     8. Agreement Not to Solicit Employees. Employee agrees that, for a period
of three (3) years following the termination of his employment, neither he nor
any affiliate shall, either alone or on behalf of any business engaged in a
business competitive with Employer or any subsidiary of Employer, solicit or
induce, or in any manner attempt to solicit or induce, any person employed by,
an agent of, Employer or any subsidiary of Employer to terminate his or its
employment, agency, or business relationship, as the case may be, with the
Employer or such subsidiary.

     9. Assignment of Inventions. Employee agrees that he will assign to
Employer or its appropriate subsidiary all inventions, discoveries and
improvements relating to its lines of business, conceived or made by him solely
or jointly with others during his employment, and to execute, upon request,
whether during his employment or thereafter, any and all applications for
patents, assignments and other papers which Employer or its counsel may

6

 

deem necessary or appropriate for securing to it in all countries,
exclusive rights in all such inventions, discoveries and improvements.

     10. Noncompetition. During the term of Employee’s employment with the
Company and for a two-year period thereafter, Employee will not, directly or
indirectly, within the Territory described below:

          (a) engage in, continue in or carry on any business which competes with
the business conducted by the Company, including owning or controlling any
financial interest in any corporation, partnership, firm or other form of
business organization which is so engaged;

          (b) consult with, advise or assist in any way, whether or not for
consideration, any corporation, partnership, firm or other business
organization which is a competitor of the Company in any aspect with respect to
the business conducted by the Company including, but not limited, to,
advertising or otherwise endorsing the products of any such competitor;
soliciting customers or otherwise serving as an intermediary for any such
competitor; loaning money or rendering any other form of financial assistance
to or engaging in any similar form of business transaction with any such
competitor; provided, however, the foregoing prohibition does not extend to
passive ownership of less than 1% of the outstanding stock of any entity whose
stock is traded on an established stock exchange or quoted on NASDAQ. For
purposes hereof, “Territory” is defined as any county or similar geographic
subdivision in which Company conducts business. The parties intend that this
noncompete covenant shall be construed as separate covenants, one for each
county and subdivision to which the covenant applies. In the event a court of
competent jurisdiction determines that the provisions of this covenant not to
compete are excessively broad as to duration, geographic scope or activity, it
is expressly agreed that this covenant not to compete shall be construed so
that the remaining provisions shall not be affected, but shall remain in full
force and effect, and any such over broad provisions shall be deemed, without
further action on the part of any person, to be modified, amended and/or
limited, but only to the extent necessary to render the same valid and
enforceable in such jurisdiction.

     11. No Violation. Employee represents and warrants to Employer that the
execution, delivery and performance of this Agreement by Employee does not,
with or without the giving of notice or the passage of time, or both, conflict
with, result in a default, right to accelerate or loss of rights under any
provision of any agreement or understanding to which Employee or his affiliates
are a party or by which Employee, or to the best knowledge of Employee,
Employee’s affiliates may be bound or affected.

     12. Captions. The captions, headings and arrangements used in this
Agreement are for convenience only and do not in any way affect, limit or
amplify the provisions hereof.

     13. Notices. All notices required or permitted to be given hereunder
shall be in writing and shall be deemed delivered when actually received or, if
mailed, whether or not actually received, two days after deposited in the
United States mail, postage prepaid, registered or

7

 

certified mail, return receipt requested, addressed to the party to whom
notice is being given at the specified address or at such other address as such
party may designate by notice:

	 	 	 	 	 
	

	 	Former Employer:
	 	Apogent Technologies Inc.
	

	 	 	 	30 Penhallow Street
	

	 	 	 	Portsmouth, NH 03801
	

	 	 	 	Attention: General Counsel
	 
	 	 	 	 
	

	 	Employee:
	 	Frank H. Jellinek, Jr.
	

	 	 	 	c/o Apogent Technologies Inc.
	

	 	 	 	30 Penhallow Street
	

	 	 	 	Portsmouth, NH 03801
	 
	 	 	 	 
	

	 	Employer:
	 	Fisher Scientific International Inc.
	

	 	 	 	One Liberty Lane
	

	 	 	 	Hampton, NH 03842

     14. Invalid Provisions. If any provision of this Agreement is held to be
illegal, invalid or unenforceable under present or future laws, such provision
shall be fully severable, and this Agreement shall be construed and enforced as
if such illegal, invalid or unenforceable provision had never comprised a part
of this Agreement, provided that if any of the limitations set forth in
Sections 7, 8, 9 and 10 shall be determined to be unreasonable by any court,
the parties agree that the provisions of such Section shall be reduced to such
lesser limitations as are determined to be reasonable; the remaining provisions
of this Agreement shall remain in full force and effect and shall not be
affected by the illegal, invalid or unenforceable provision or by its severance
from this Agreement.

     15. Amendments. This Agreement may be amended only by an instrument in
writing duly executed by an officer of Employer expressly authorized by the
Board to do so and by Employee.

     16. Waiver. No delay or omission by either party hereto to exercise any
right or power hereunder shall impair such right or power or be construed as a
waiver thereof. A waiver by either of the parties hereto of any of the
covenants to be performed by the other or of any breach thereof shall not be
construed to be a waiver of any succeeding breach thereof or of any other
covenant herein contained. All remedies provided for in this Agreement shall
be cumulative and in addition to and not in lieu of any other remedies
available to either party at law, in equity or otherwise.

     17. Counterparts. This Agreement may be executed in multiple
counterparts, each of which shall constitute an original, and all of which
together shall constitute one and the same agreement.

     18. Governing Law. This Agreement shall be construed and enforced
according to the laws of the State of New Hampshire.

8

 

     19. Legal Fees. Employer shall pay to Employee all legal fees and expenses
incurred by Employee in contesting or disputing any termination or in seeking
to obtain or enforce any right or benefit provided by this Agreement.

     20. Final Agreement. This Agreement supersedes any other employment
agreement (including the Former Employment Agreement) that Employee may have
had with the Former Employer or any affiliate thereof prior to the Closing
Date.

*****

9

 

     IN WITNESS WHEREOF, the parties hereto have executed and delivered this
Agreement as of the date first above written.

	 	 	 	 	 
	 	 	APOGENT TECHNOLOGIES INC.
	 
	 	 	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	

	 	By:
	 	/s/ Michael K. Bresson
	

	 	 	 	
 
	

	 	 	 	Title: Executive Vice President

– General Counsel and Secretary
	 
	 	 	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	 	 	EMPLOYEE:
	 
	 	 	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	

	 	By:
	 	/s/ Frank H. Jellinek, Jr.
	

	 	 	 	
 
	

	 	 	 	Frank H. Jellinek, Jr.
	 
	 	 	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	 	 	FISHER SCIENTIFIC INTERNATIONAL INC.
	 
	 	 	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	

	 	By:
	 	/s/ Todd M. DuChene
	

	 	 	 	
 
	

	 	 	 	Title: Vice President, General Counsel

and Secretary

10

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