Document:

EXHIBIT 10.1
                                                                    ------------

                                OPTION AGREEMENT

         This Option Agreement ("AGREEMENT") is made effective this 4th day of
January, 2007, by and between RonHow, LLC, a Georgia limited liability company
("RONHOW"), and Harold's Stores, Inc., an Oklahoma corporation ("COMPANY") with
reference to the following circumstances:

                  A. RonHow and the Company have entered into that certain
         Subordinated Loan Agreement dated August 31, 2006 (the "SUBORDINATED
         LOAN AGREEMENT") pursuant to which the Company and certain of its
         subsidiaries (collectively, the "BORROWERS") may borrow an aggregate
         principal amount of up to $10,000,000.

                  B. The Company has authorized a Series of 2006-B Preferred
         Stock under the terms of the Certificate of Designation of the Series
         2006-B Preferred Stock filed with the Secretary of State of the State
         of Oklahoma on August 31, 2006 (the "CERTIFICATE").

                  C. On August 31, 2006, pursuant to the terms of the
         Subordinated Loan Agreement, RonHow made an initial advance in the
         amount of $5,000,000 (the "INITIAL ADVANCE"), which is convertible into
         shares of the Company's Series 2006-B Preferred Stock at the Purchase
         Price Per Share (as defined in the Initial Option Agreement) in
         exchange for RonHow's the forgiveness of any outstanding principal or
         accrued but unpaid interest resulting from the Initial Advance (the
         "INITIAL OPTION AGREEMENT").

                  D. On the date hereof, RonHow is making an additional advance
         pursuant to the terms of the Subordinated Loan Agreement in the amount
         of $2,000,000 (the "SECOND ADVANCE").

                  E. The Company has agreed to grant the option set forth in
         this Agreement to enable RonHow to convert, in whole or in part, the
         principal balance and any accrued but unpaid interest due relating to
         the Second Advance into shares of the Company's Series 2006-B Preferred
         Stock.

                  F. The existing holders of the Company's outstanding Amended
         Series 2001-A Preferred Stock, Series 2002-A Preferred Stock, Series
         2003-A Preferred Stock and 2006-A Preferred Stock have all consented to
         the transactions contemplated by this Agreement and the Subordinated
         Loan Agreement and waived their preemptive rights with respect to the
         right to acquire shares of Series 2006-B Preferred Stock by reason of
         their prior approval of the Subordinated Loan Agreement.

         In consideration of the foregoing recitals and the mutual promises,
representations, warranties and covenants hereinafter set forth and for other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

         1.       OPTION TO PURCHASE SHARES OF SERIES 2006-B PREFERRED STOCK.

                  1.1 OPTION. Subject to the terms and conditions of this
         Agreement, the Company grants to RonHow an option (the "OPTION") to
         purchase at a price per share ("PURCHASE PRICE PER SHARE") of One
         Thousand Dollars ($1,000.00), up to 2,000 shares,
<PAGE>

         plus such additional shares as may be purchased in exchange for
         forgiveness of accrued but unpaid interest pursuant to the Second
         Advance (the "2006-B SHARES"), of authorized but unissued shares of its
         Series 2006-B Preferred Stock which may be exercised at any time prior
         to the repayment in full of the Subordinated Loan Agreement; provided,
         however, that for the purposes of Option granted pursuant to this
         Agreement only, any repayment by the Company of any outstanding
         principal amount and accrued interest due under the terms of the
         Subordinated Loan Agreement shall be deemed to have been paid (i)
         first, on any outstanding principal amount and accrued interest due
         under the terms of the Second Advance; and (ii) second, to the extent
         such payment by the Company exceeds the amount contemplated by Section
         1.1(i), to any amounts due under the terms of the Initial Advance.
         RonHow may purchase from the Company such number of 2006-B Shares as is
         equal to the principal amount outstanding, plus any accrued but unpaid
         interest deemed by this Section 1.1 to be due under the terms of the
         Second Advance, at the date of Closing divided by the Purchase Price
         Per Share. RonHow may exercise the Option in whole or in part at any
         time after the date hereof and prior to the repayment in full by the
         Company of amounts deemed due under the Second Advance by giving
         written notice of exercise to the Company. If the Company intends to
         repay all or any part of the principal balance deemed due under the
         Second Advance, it shall give at least ten (10) days' written notice to
         RonHow and during such ten (10) day period, RonHow may exercise the
         Option in whole or in part. Payment of the Purchase Price for the
         2006-B Shares which RonHow purchases by any exercise of the Option will
         be paid by RonHow by forgiving such portion of the Second Advance
         principal amount and accrued but unpaid interest deemed to be pursuant
         to such advance equal to the purchase price of the 2006-B Shares
         purchased. RonHow will execute and deliver such documents and
         instruments to evidence such forgiveness as the Company may request.

                  1.2 CONVERSION PRICE. The Conversion Price (as defined in the
         Certificate) of the 2006-B Shares acquired upon any exercise of the
         Option shall be equal to the 20 day average of the closing bid prices
         of the Company's Common Stock as quoted on the Over-the-Counter
         Bulletin Board for the twenty (20) trading days ending on the day
         before the date of this Agreement, or $0.4055 per share. The Conversion
         Price shall be subject to adjustment as provided in the Certificate.
         All other terms of the 2006-B Shares shall be governed by the
         Certificate.

                  1.3 CLOSING. The closing of the purchase and sale of the
         2006-B Shares (the "CLOSING") upon any exercise of the Option shall
         occur within ten (10) business days after the date of the Option
         exercise date. At the Closing, the Company shall deliver to RonHow
         certificates representing the 2006-B Shares that RonHow is purchasing
         against payment of the Purchase Price therefore as provided above. At
         the Closing, the Company and RonHow shall enter into an amendment (the
         "IRA AMENDMENT") to the Investor Rights Agreement dated as February 28,
         2001 by and between the Company and Inter-Him, N.V. ("INTER-HIM"), as
         amended, in order to cause the 2006-B Shares to be considered covered
         by such agreement. The obligation of the Company to close the sale of
         the 2006-B Shares shall be subject to the satisfaction or waiver of any
         conditions for such sale under the Subordinated Loan Agreement.

                                      -2-
<PAGE>

         2.       REPRESENTATIONS AND WARRANTIES OF THE COMPANY. The Company
represents and warrants to RonHow that:

                  2.1 ORGANIZATION AND GOOD STANDING. The Company is a
         corporation duly organized and validly existing under the laws of the
         state of Oklahoma and is in good standing under such laws. The Company
         has all requisite corporate power and authority to own and operate its
         property and assets, and to carry on its business as presently
         conducted and as currently proposed to be conducted.

                  2.2 CORPORATE POWERS. The Company has all requisite legal and
         corporate power and authority to execute and deliver this Agreement, to
         sell and issue the 2006-B Shares hereunder, to issue any additional
         shares of Series 2006-B Preferred Stock to be issued in satisfaction of
         dividends on the 2006-B Shares (the "DIVIDEND STOCK") and to issue the
         Common Stock issuable upon conversion of the 2006-B Shares and the
         Dividend Stock as set forth in the Certificate (the "UNDERLYING COMMON
         STOCK").

                  2.3 VALID ISSUANCE OF STOCK. The 2006-B Shares, when issued,
         sold and delivered in compliance with the provisions of this Agreement,
         will be duly and validly issued, fully paid and non-assessable and
         issued in compliance with all applicable state and federal securities
         law. The Dividend Stock and the Underlying Common Stock have been duly
         and validly reserved and, when issued, will be duly and validly issued,
         fully paid and non-assessable and issued in compliance with all
         applicable state and federal securities laws.

                  2.4 AUTHORIZATION. All corporate action on the part of the
         Company necessary for the authorization, execution, delivery and
         performance of this Agreement and the IRA Amendment by the Company, the
         authorization, sale, issuance (or reservation of issuance) and delivery
         of the 2006-B Shares and Dividend Stock and the Underlying Common Stock
         with respect thereto and the performance of all of the Company's
         obligations hereunder and under the IRA Amendment have been taken prior
         to the date hereof. This Agreement constitutes and the IRA Amendment,
         when executed will constitute, valid and legally binding obligations of
         the Company, enforceable in accordance with their respective terms,
         subject to the laws of general application relating to bankruptcy,
         insolvency and the relief of debtors and the rules of law governing
         specific performance, injunctive relief or other equitable remedies.

         3.       REPRESENTATIONS AND WARRANTIES OF RONHOW. RonHow represents
and warrants to the Company as follows:

                  3.1 INVESTMENT EXPERIENCE. RonHow is capable of evaluating the
         merits and risks of its investment in the Company and has the capacity
         to protect its own interests. RonHow is an "accredited investor" as
         defined in Rule 501 of Regulation D promulgated under the Securities
         Act. RonHow is able to bear the economic risk of losing its entire
         investment in the Company.

                  3.2 INVESTMENT. If the Option is exercised, RonHow will
         acquire the 2006-B Shares for investment for RonHow's own account, not
         as a nominee or agent, and not

                                      -3-
<PAGE>

         with the view to, or for resale in connection with, any distribution
         thereof. RonHow understands that the 2006-B Shares and the Dividend
         Stock and the Underlying Common Stock with respect thereto have not
         been, and will not be when issued, registered under the Securities Act
         or any state securities laws by reason of specific exemptions from the
         registration provisions of the Securities Act of 1933 ("SECURITIES
         ACT") and such state laws, the availability of which depends upon,
         among other things, the bona fide nature of the investment intent and
         the accuracy of the representations as expressed herein.

                  3.3 RULE 144. RonHow is aware of the provisions of Rule 144
         promulgated under the Securities Act which permit limited resale of
         shares purchased in a private placement subject to the satisfaction of
         certain conditions, which may include, among other things, the
         existence of a public market for the shares, the availability of
         certain current public information about the Company, the resale
         occurring not less than one year after a party has purchased and paid
         for the security to be sold, the sale being effected through a
         "broker's transaction" or in transactions directly with a "market
         maker" and the number of shares being sold during any three (3) month
         period not exceeding specified limitations.

                  3.4 ACCESS TO INFORMATION. RonHow has had an opportunity to
         discuss the Company's management, business plan and financial condition
         with the Company's management. RonHow understands that any purchase of
         the 2006-B Shares involves a high degree of risk, and there can be no
         assurance that the Company's business objectives will be obtained.

                  3.5 AUTHORIZATION. RonHow has all requisite legal power and
         authority to execute and deliver this Agreement and the IRA Amendment
         and to carry out and perform its obligations under the terms of this
         Agreement and the IRA Amendment and the transactions contemplated
         hereby and thereby. This Agreement and the IRA Amendment, when executed
         and delivered by RonHow, will each constitute a valid and legally
         binding obligation of RonHow, enforceable in accordance with its terms,
         subject to laws of general application relating to bankruptcy,
         insolvency and the relief of debtors and rules of law governing
         specific performance, injunctive relief or other equitable remedies.

                  3.6 LEGENDS. It is understood that each certificate
         representing the 2006-B Shares and the Dividend Stock and the
         Underlying Common Stock with respect thereto shall bear a legend to the
         following effect:

                  THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
                  ACT OF 1933 OR ANY STATE SECURITIES LAWS. THEY MAY NOT BE
                  SOLD, OFFERED FOR SALE OR OTHERWISE TRANSFERRED IN THE ABSENCE
                  OF AN EFFECTIVE REGISTRATION STATEMENT OR THE AVAILABILITY OF
                  AN EXEMPTION THEREFROM.

                                      -4-
<PAGE>

         4.       COVENANTS OF THE COMPANY.

                  4.1 RESERVATION OF SHARES. The Company shall at all times
         reserve and keep available out of its authorized but unissued shares
         (i) such number of shares of Series 2006-B Preferred Stock as shall
         from time to time be sufficient to permit the exercise of the Option
         and to permit payment of dividends on the 2006-B Shares and Dividend
         Stock and (ii) such number of shares of Underlying Common Stock as
         shall from time to time be sufficient to effect the conversion of all
         outstanding shares of the Series 2006-B Preferred Stock; and if at any
         time the number of authorized but unissued shares of Series 2006-B
         Preferred Stock or Common Stock shall not be sufficient to effect the
         payment of dividends or conversion of all then outstanding shares of
         the Series 2006-B Preferred Stock, in addition to such other remedies
         as shall be available to the holders of such Series 2006-B Preferred
         Stock, the Company will take such corporate action as may, in the
         opinion of its counsel, be necessary to increase the authorized but
         unissued shares to such number of shares as shall be sufficient for
         such purposes.

         5.       MISCELLANEOUS.

                  5.1 GOOD FAITH; COOPERATION; FURTHER ASSURANCES. The parties
         will in good faith undertake to perform their obligations in this
         Agreement, to satisfy all conditions and to cause the transactions
         contemplated by this Agreement to be carried out promptly in accordance
         with its terms. The parties will cooperate fully with each other and
         their respective representatives in connection with any actions
         required to be taken as part of their respective obligations under this
         Agreement. Each party will at the Closing and from time to time after
         the Closing, deliver to the other such further instruments necessary or
         desirable, in the reasonable opinion of the requesting party and at the
         expense of the requesting party, to consummate or document the
         transactions contemplated by this Agreement.

                  5.2 ENTIRE AGREEMENT; SUCCESSORS AND ASSIGNS. This Agreement
         and the Subordinated Loan Agreement constitute the entire agreement
         between the Company and RonHow relative to the subject matter hereof
         and supersede any previous agreement between the Company and RonHow
         regarding such subject matter. Subject to the exceptions specifically
         set forth in this Agreement, the terms and conditions of this Agreement
         shall inure to the benefit of and be binding upon the respective
         executors, administrators, heirs, successors and assigns of the
         parties.

                  5.3 GOVERNING LAW. This Agreement shall be governed by and
         construed in accordance with the laws of the State of Oklahoma without
         regard to the conflicts of laws principles thereof.

                  5.4 COUNTERPARTS. This Agreement may be executed in any number
         of counterparts (including by means of facsimile or other electronic
         media) with the same effect as if all parties hereto had signed the
         same document; however, this Agreement shall not become operative until
         all parties have signed a counterpart hereof. All counterparts shall be
         construed together and shall constitute one Agreement.

                                      -5-
<PAGE>

                  5.5 HEADINGS. The section headings of this Agreement are for
         convenience and shall not by themselves determine the interpretation of
         this Agreement.

                  5.6 NOTICES. Any notice required or permitted hereunder shall
         be given in writing and shall be conclusively deemed effectively given
         upon personal delivery, or by delivery by overnight courier, or
         telecopy (with confirmation of receipt), or five (5) days after deposit
         in the United States mail, by registered or certified mail, postage
         prepaid, addressed:

                  if to the Company:    Harold's Stores, Inc.
                                        765 Asp
                                        Norman, Oklahoma 73070
                                        Attn: Chief Financial Officer
                                        Telecopy: (405) 366-2538

                  if to RonHow:         RonHow, LLC
                                        3290 Northside Parkway, Suite 250
                                        Atlanta, Georgia, 30302
                                        Attn: Robert Anderson

                  5.7 SURVIVAL OF WARRANTIES. The representations and warranties
         of the parties contained in or made pursuant to this Agreement shall
         survive for a period of one (1) year from the date of the Closing.

                  5.8 AMENDMENT OF AGREEMENT. Any provision of this Agreement
         may be amended by a written instrument signed by the Company and
         RonHow.

                  5.9 FINDERS' FEES. The Company and RonHow will indemnify each
         other against all liabilities incurred by one party with respect to
         claims related to investment banking or finders' fees in connection
         with the transactions contemplated by this Agreement, arising out of
         arrangements between the party asserting such claims and the
         indemnifying party, and all costs and expenses (including reasonable
         fees of counsel) of investigating and defending such claims.

                       [Signature page follows this page]

                                      -6-
<PAGE>

         This Option Agreement is executed and delivered by the undersigned to
be effective as of the date first above written.

"COMPANY"                              HAROLD'S STORES, INC., an Oklahoma
                                       corporation

                                       By:  /s/ Jodi Taylor
                                          --------------------------------------
                                            Jodi Taylor, Chief Financial Officer
                                            & Secretary

"RONHOW"                               RonHow, LLC, a Georgia limited liability
                                       company

                                       By: Ronus, Inc., a Georgia corporation,
                                           Managing Member

                                           By: /s/ Robert L. Anderson
                                               ---------------------------------
                                               Robert L. Anderson, President

                      [Signature Page to Option Agreement]

                                      -7-Exhibit 10.1

AGREEMENT
AS TO LANDERS EMPLOYMENT

THIS AGREEMENT AS TO LANDERS EMPLOYMENT (this “Agreement”) is made and
entered into as of the 29th day of December, 2006 by and between QUIDEL
CORPORATION, a Delaware corporation (the “Company”) and PAUL E. LANDERS,
an individual (“Landers”).

BACKGROUND

A.                                   Landers
currently serves as the Company’s Senior Vice President, Finance and
Administration.  Pursuant to pre-existing
and continuing employment and related understandings and agreements, Landers’
employment with the Company is “at will.”

B.                                     Landers
has recently advised the Company, and the Company has publicly announced, that
Landers intends to retire from his employment with the Company, effective
March 31, 2007 (the “Retirement Date”).

C.                                     The
Company and Landers are entering into this Agreement to confirm their
understandings as to Landers’ employment prior to the Retirement Date and each
party’s commitments and obligations on and after the Retirement Date.

AGREEMENT

1.                                       Employment.  The Company shall continue to employ Landers
on a full-time basis, and Landers accepts such continued employment, upon and
subject to the terms and conditions set forth herein.  Landers acknowledges and agrees that, if his
successor is identified and employed by the Company prior to the Retirement
Date, Landers’ current title and scope of responsibilities and authority may be
changed by the Company without constituting a breach hereunder.

2.                                       Term.  Consistent with the Resignation (attached
hereto as Exhibit A) which Landers has executed and delivered
concurrently with this Agreement, the term of Landers’ employment shall
continue until, and then automatically terminate, on March 31, 2007,
unless earlier terminated as provided herein (the “Remaining Term”).

3.                                       Employment Compensation During Remaining Term.  Landers’ salary and employee benefits shall
continue during the Remaining Term at the same levels as are in effect as of
the date of this Agreement; provided, however, that Landers shall
not receive any further grants of equity incentive awards nor shall he be
eligible to participate in any bonus plans applicable to fiscal year 2007 or
any year thereafter.  Landers shall,
however, remain eligible to receive a bonus under the Company’s existing 2006
cash incentive bonus plan if and to the extent the relevant performance metrics
therein are achieved and if Landers remains employed by the Company through the
Retirement Date or is earlier terminated by the Company without “cause” (as
defined below).

4.                                       Release on Retirement Date.  On the Retirement Date (or upon the Company’s
earlier termination of Landers’ employment without “Cause,”), and as a material
condition to Landers’ receipt of the benefits set forth in Section 8
below, Landers shall execute and deliver a Release in the form attached hereto
as Exhibit B.

 

5.                                       Post-Retirement Date Consulting.  In consideration of the benefits set forth in
Section 8 below, Landers agrees that, from the Retirement Date through
December 31, 2007, he shall make himself reasonably available to the Company’s
Board of Directors and management to review documents and provide telephonic
consultation for the Company’s benefit. 
Landers’ time commitments for this purpose shall not exceed twenty (20)
hours per month, and he shall be promptly reimbursed for any and all
out-of-pocket expenses reasonably incurred in providing such assistance.

6.                                       Non-Competition.  As a material condition to the benefits
provided to Landers pursuant to Section 8 hereof, from the date hereof
through and including December 31, 2007, Landers shall not engage,
directly or indirectly, in any capacity, have any direct or indirect ownership
interest in, manage, operate, finance or control any business anywhere in the
United States or Japan which is engaged in the development, manufacture, distribution,
marketing and/or sale of rapid diagnostic tests in infectious diseases,
reproductive health, oncology or Fecal Occult Blood; provided, however,
that Landers’ passive investment of up to five percent (5%) of the outstanding
voting securities or similar equity interest in a publicly held entity shall
not be deemed a breach of this Agreement.

7.                                       No Solicitation.  As a material
condition to the benefits provided to Landers pursuant to Section 8
hereof, from the date hereof through and including December 31, 2008,
Landers covenants that he will not directly or indirectly solicit (other than a
solicitation by general advertisement) the employment or engagement of services
of any person who is or was employed as an employee, contractor, supplier or
consultant by the Company during such period on a full or part-time basis or
directly or indirectly encourage any such persons to terminate, limit or
restrict their relationship with the Company.

8.                                       Acceleration of Vesting.  Upon the earlier of the Retirement Date or
Landers’ involuntary termination by the Company without Cause, (a) Landers’
outstanding stock options shall be automatically vested if and to the extent
such options would have become vested in the normal course of business had
Landers’ employment with the Company continued until December 31, 2007,
and (b) the restrictions on all outstanding shares of Landers’ restricted stock
shall automatically lapse if and to the extent such restrictions would have
lapsed in the normal course of business had Landers’ employment with the
Company continued until December 31, 2007. 
The parties acknowledge and agree that the Schedule (attached hereto as
Exhibit C) accurately sets forth all of Landers’ stock options and
restricted stock that are affected by the foregoing vesting and lapse
provisions.

For purposes of this Agreement, the “normal course of business” shall
exclude, and not take into account, a “Change in Control” as defined in that
certain Agreement Re:  Change in Control
between Landers and the Company dated as of February 28, 2003 and as
thereafter amended (the “CIC Agreement”). 
The parties acknowledge that the CIC Agreement remains in full force and
effect and shall govern the parties’ rights and obligations in the event of a
Change in Control.

9.                                       Early Resignation or Termination for Cause.  In the event that Landers either (a)
voluntarily resigns his employment with an effective date prior to the
Retirement Date, or (b) is involuntarily terminated by the Company for Cause,
Landers shall not be entitled to the benefits described in Section 8
hereof, but shall only be entitled to salary, accrued benefits and other
amounts legally owing to Landers through the date of employment
termination.  The Company shall thereafter
have no further obligations to Landers under this Agreement or the CIC
Agreement.

For
purposes hereof, “Cause” shall have the definition given it in the CIC
Agreement.

10.                                 Confidentiality of Business and Legal Information.  Landers acknowledges
that the Company holds as confidential and/or privileged certain information
(including but not limited to non-

 2
 

 

public information obtained by Landers in his position as an
officer of the Company) as well as certain trade secret information and
knowledge concerning the intimate and confidential affairs of the Company and
the various phases of its business, including, for example and without limitation, processes, formulae, data and know-how,
improvements, inventions, techniques, marketing plans, strategies, forecasts,
mailing lists, customer lists, pricing information, manufacturing processes,
distribution systems, computer systems or programs and other types of similar
information within Landers’ knowledge by virtue of his employment with the
Company (collectively, the foregoing shall be referred to herein as “Confidential
Trade Secret, Proprietary and Legal Information”). Landers agrees that all
Confidential Trade Secret, Proprietary and Legal Information shall be the sole
property of the Company and that the Company shall be and is the sole owner of
all patents and other rights in connection therewith as well as any
privileges.  Landers further agrees to
hold in strictest confidence and to refrain from using or disclosing to any
other person or entity any Confidential Trade Secret, Proprietary and Legal
Information, other than the Company, its employees, Directors and
representatives.  In that regard, Landers
expressly acknowledges that he has not disclosed (other than to the Company,
its employees, Directors and representatives) any Confidential Trade Secret,
Proprietary and Legal Information. 
Landers specifically agrees that he will not disclose any Confidential
Trade Secret, Proprietary and Legal Information at any time in the future
(other than to the Company, its employees, Directors and representatives).  Landers further represents and warrants that,
on the last day of his employment, he will have returned to the Company all
property and documents of the Company, whether kept electronically or in hard
copy form and will have retained no copies thereof.

11.                                 Miscellaneous.

a.                                       Notices.  Any notice required or permitted to be given
under this Agreement shall be sufficient if in writing and delivered in person
or sent by registered or certified mail to Landers’ residence in the case of
Landers or to its principal office in the case of the Company.

b.                                      Arbitration.  Any dispute arising out of this Agreement
shall be resolved exclusively by final and binding arbitration, before a single
arbitrator, in San Diego, California pursuant to the rules of the JAMS.  Judgment upon any such arbitration award may
be entered by any state or federal court of competent jurisdiction.

c.                                       Waiver.  The waiver of any provision of this Agreement
shall not operate or be construed as a waiver of any other provision of this
Agreement.  No waiver shall be valid
unless in writing and executed by the party to be charged therewith.

d.                                      Severability/Modification.  In the event that any clause or provision of
this Agreement shall be determined to be invalid, illegal or unenforceable,
such clause or provision may be severed or modified to the extent necessary,
and, as severed and/or modified, this Agreement shall remain in full force and
effect.

e.                                       Assignment.  The rights and obligations of the Company
under this Agreement shall inure to the benefit of and shall be binding upon
the successors and assigns of the Company. 
Landers acknowledges that the services to be rendered under this
Agreement are unique and personal. 
Accordingly, Landers may not assign his rights and obligations under
this Agreement.

f.                                         Amendment.  This instrument may not be amended except by
an agreement in writing signed by both parties.

g.                                      Governing
Law and Jurisdiction.  This Agreement
shall be interpreted, construed, and enforced under the internal laws of the
State of California.  The courts and
authorities of the State of

 3
 

 

California shall have sole jurisdiction and venue for
purposes of enforcing the arbitration agreement above.

IN WITNESS WHEREOF, the parties have executed and delivered this
Agreement as of the date and year indicated above.

	
  

  	
  “COMPANY”

  
	
   

  	
  QUIDEL
  CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Caren L.
  Mason

  
	
   

  	
   

  	
      Name:

  	
  Caren L. Mason

  
	
   

  	
   

  	
      Title:

  	
  President and Chief Executive Officer

  
	
   

  	
   

  
	
   

  	
  “LANDERS”

  
	
   

  	
  PAUL E. LANDERS

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Paul E.
  Landers

  
	
   

  	
   

  	
      Paul
  E. Landers

  

 4
 

 

EXHIBIT A

	
  Date:

  	
  December 29, 2006

  
	
   

  	
   

  
	
  To:

  	
  Board of Directors

  
	
   

  	
  Quidel Corporation

  
	
   

  	
   

  
	
  From:

  	
  Paul E. Landers

  
	
   

  	
   

  
	
  Subject:

  	
  Resignation

  

 

This letter is to confirm my resignation as an officer of Quidel
Corporation (the “Company”), effective as of March 31, 2007, together with
all other employment, Director and trustee positions held with Quidel
Corporation and any of its subsidiaries or with their respective employee
plans.

This letter is also to confirm that my resignation is not a result of
any disagreement with the Company as to the Company’s operations, policies or
practices.

	
  /s/ Paul E. Landers

  	
   

  
	
  Paul E. Landers

  

 

 5
 

 

EXHIBIT B

GENERAL RELEASE

In consideration of Quidel Corporation’s (the “Company”)
agreement to provide certain benefits to Paul E. Landers (“Landers”),
Landers hereby gives the following General Release effective on March 31,
2007.

1.                                       Release
of Claims.  Landers hereby
irrevocably and unconditionally releases, acquits and forever discharges the
Company, its parent and its affiliated companies from any and all charges,
complaints, claims, liabilities, obligations, promises, agreements,
controversies, damages, actions, causes of action, suits, rights, demands,
remedies, costs, losses, debts, expenses and attorneys’ fees, including those
arising out of or in connection with Landers’ employment with and consulting
services for the Company and/or the termination thereof.  (All such charges, complaints, etc. are
collectively referred to herein as “Claims.”) 
The Claims irrevocably and unconditionally released, acquitted and
forever discharged include, for example and without limitation, Claims arising
under the federal Age Discrimination in Employment Act of 1967, which prohibits
discrimination on the basis of age, Title VII of the Civil Rights Act of 1964,
the Civil Rights Act of 1866, the Americans With Disabilities Act, the
California Fair Employment and Housing Act, the California Labor Code, and common
law employment and wrongful discharge claims.

The Claims irrevocably and unconditionally released,
acquitted and forever discharged by Landers extend to all such Claims by
Landers against any and all of the current and former owners, stockholders, predecessors,
successors, assigns, agents, directors, officers, employees, representatives,
attorneys, divisions, parents, subsidiaries, affiliates (and the directors,
officers, employees, representatives and attorneys of such divisions, parents,
subsidiaries and affiliates) of the Company and all other persons acting by,
through, under or in concert with any of them. 
(All such persons and entities, as well as the Company are collectively
referred to herein as the “Releasees”). 
The Claims irrevocably and unconditionally released, acquitted and
forever discharged herein by Landers also extend to all Claims which Landers
now has, owns or holds, or contends to have, own or hold or which Landers at
any time heretofore had, owned or held or contended to hold against any of the
Releasees.  Landers represents that he
has not heretofore assigned or transferred or purported to have assigned or
transferred to any person or entity any Claims released, acquitted and forever
discharged herein.  This General Release
shall not affect any Claims that Landers may have which arise solely after the
effective date of this General Release, shall not apply to any of the Company’s
obligations under that certain Agreement as to Landers Employment dated as of
December 29, 2006 (the “Employment Agreement”), and shall not serve as a
release of any claims that cannot be released as a matter of law, including but
not limited to indemnification under the California Labor Code.

2.                                       Release
of Unknown and Unsuspected Claims.  For the purpose of implementing a full and
complete release and discharge of the Releasees, Landers expressly acknowledges
that this General Release is intended to include in its effect, without
limitation, all Claims (as defined above) which Landers does not know or suspect
to exist in his favor at the time of execution hereof, and this General Release
contemplates the extinguishment of any and all such Claims.  In this regard, Landers expressly waives the
provisions of Section 1542 of the California Civil Code, which state:

A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE
CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF
EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS
SETTLEMENT WITH THE DEBTOR.

 6
 

 

Furthermore, Landers hereby expressly waives and relinquishes
any rights and benefits he may have under other statutes or common law
principles of similar effect.  Landers
understands that the facts under which he gives this full and complete release
and discharge of the Releasees may hereafter prove to be different than now
known or believed by him and Landers hereby accepts and assumes the risk
thereof and agrees that his full and complete release and discharge of
Releasees shall remain effective in all respects and not be subject to
termination, rescission or modification by reason of any such difference in
facts.

3.                                       No
Complaint, Charge or Lawsuit Pending.  Landers represents that he has not filed with
any governmental agency or court any complaint, charge or lawsuit against any
of the Releasees involving any Claims released herein, and that, except as
otherwise permitted by law, he will not do so at any time hereafter; provided,
however, this paragraph shall not limit Landers from filing an action for the
purpose of enforcing his rights under the Employment Agreement or from filing a
charge or complaint of discrimination with the EEOC.

4.                                       Severability.  The provisions of
this General Release are severable, and if any part of this General Release is
found unenforceable, invalid or illegal, the other parts of this General
Release shall remain fully valid and enforceable.

5.                                       Governing
Law.  This General
Release and any dispute concerning the validity, interpretation or breach of
any term or condition hereof shall be construed and interpreted under and in
conformance with the laws of the State of California applicable to contracts
negotiated and to be fully performed in the State of California.

6.                                       Arbitration.  Any dispute
concerning the validity, interpretation or breach of this General Release or
any term or condition hereof or any dispute concerning the Claims released
herein shall be resolved exclusively by final and binding arbitration, before a
single arbitrator, to be held in the County of San Diego, California, in
accordance with the then existing rules of the JAMS.  Judgment upon any such arbitration award may
be entered by any state or federal court of competent jurisdiction.  This General Release shall be admissible in
any proceeding to enforce its terms.

7.                                       Construction.  Landers has had
ample opportunity to make suggestions or changes to the terms and language of
this General Release and agrees that principles of contract construction
against the drafter shall have no application hereto.  Landers agrees that this General Release
should be construed fairly and not in favor of or against Landers or the
Company as the drafter.

8.                                       Waiting
Period and Right of Revocation.  Landers hereby releases Releasees from any
and all claims for age discrimination, whether under state or federal law.  Landers understands that pursuant to federal
law, Landers has the right to review this General Release for a full twenty-one
(21) calendar day period before executing the same, and that Landers has the right
to revoke this General Release in its entirety at any time within seven (7)
calendar days after executing the same and that this General Release is not
effective until such seven (7) day revocation period has expired.  Landers acknowledges his right to consult
with his attorney prior to signing this General Release, and that he has been
advised to consult with his attorney prior to such signing.

9.                                       Full
Understanding of Terms.  Landers represents and agrees that he fully
understands his right to discuss all aspects of this General Release with his
private attorney; that to the extent, if any, he desires, he has availed
himself of this right; that he has carefully read and fully understands all of
the provisions of this General Release; and that he is voluntarily entering
into it.

 7
 

 

IN WITNESS WHEREOF, Landers and the Company acknowledge
agreement with the foregoing by their signatures set forth below.

	
   

  	
  PAUL E. LANDERS

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Paul E. Landers

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  QUIDEL CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Caren L. Mason

  
	
   

  	
  President and Chief Executive Officer

  

 

 8

 

EXHIBIT C

SCHEDULE OF
AFFECTED OPTIONS AND RESTRICTED STOCK

RESTRICTED STOCK (RS)

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Original Vest

  Btwn

  	
   

  
	
  Grant Number

  	
   

  	
  Grant Date

  	
   

  	
  Plan

  	
   

  	
  Type

  	
   

  	
  Price

  	
   

  	
  03/31 - 12/31/07

  	
   

  
	
  004713

  	
   

  	
  3/19/2004

  	
   

  	
  2001

  	
   

  	
  RSA

  	
   

  	
  $

  	
  0.0100

  	
   

  	
  1,532

  	
   

  
	
  004714

  	
   

  	
  5/19/2005

  	
   

  	
  2001

  	
   

  	
  RSA

  	
   

  	
  $

  	
  0.0100

  	
   

  	
  7,500

  	
   

  
	
  004715

  	
   

  	
  5/19/2005

  	
   

  	
  2001

  	
   

  	
  RSA

  	
   

  	
  $

  	
  0.0100

  	
   

  	
  **7,500

  	
   

  
	
  004768

  	
   

  	
  3/21/2006

  	
   

  	
  2001

  	
   

  	
  RSA

  	
   

  	
  $

  	
  0.0100

  	
   

  	
  **6,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  22,532

  	
   

  

 

OPTIONS

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Original Vest

  Btwn

  	
   

  
	
  Grant Number

  	
   

  	
  Option Date

  	
   

  	
  Plan

  	
   

  	
  Type

  	
   

  	
  Price

  	
   

  	
  03/31 - 12/31/07

  	
   

  
	
  004125

  	
   

  	
  4/14/2003

  	
   

  	
  2001

  	
   

  	
  ISO

  	
   

  	
  $

  	
  3.9900

  	
   

  	
  3,125

  	
   

  
	
  004391

  	
   

  	
  3/19/2004

  	
   

  	
  2001

  	
   

  	
  ISO

  	
   

  	
  $

  	
  7.5000

  	
   

  	
  5,538

  	
   

  
	
  004392

  	
   

  	
  3/19/2004

  	
   

  	
  2001

  	
   

  	
  NQ

  	
   

  	
  $

  	
  7.5000

  	
   

  	
  1,142

  	
   

  
	
  004429

  	
   

  	
  7/21/2004

  	
   

  	
  2001

  	
   

  	
  NQ

  	
   

  	
  $

  	
  3.7000

  	
   

  	
  18,750

  	
   

  
	
  004755

  	
   

  	
  3/21/2006

  	
   

  	
  2001

  	
   

  	
  NQ

  	
   

  	
  $

  	
  12.2300

  	
   

  	
  3,093

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  31,648

  	
   

  

 

** Grant numbers 004715 and 004768 are
contingent upon and subject to achievement of performance goals.  Thus, determination of achievement of 2006
performance goals impacts 13,500 shares of restricted stock tentatively shown as vesting above.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00115-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00115-of-00352.parquet"}]]