Document:

Exhibit 10.2

                                        October 30, 2001

Mr. Colin Maddix
421 Worthington Drive
Mars, Pennsylvania 16046

Dear Colin:

      This letter confirms our arrangement regarding your resignation as an
officer and director of Thermo Electron Corporation and any of its subsidiaries
and affiliates (collectively, the "Company").

      The following is our agreement related to your resignation from the
Company:

1.   Termination of Employment:  Your employment with the Company will terminate
     effective as of July 1, 2002.  You will be placed on inactive  status as of
     November 1, 2001 and paid your regular salary through July 1, 2002.  Should
     you begin  work at  another  employer  as an  "employee"  as defined by the
     United States  Internal  Revenue  Service,  including,  but not limited to,
     receiving W-2 type wages,  before July 2, 2002, the employment  termination
     date will be accelerated to the day before your new employment  starts. The
     date you cease  being an employee  of the  Company in  accordance  with the
     previous two sentences is referred to herein as the "Employment Termination
     Date." Until the Employment Termination Date you will continue to report to
     Marijn  Dekkers,  and you agree to make  yourself  available  to  undertake
     special  projects  and  assignments  determined  by Mr.  Dekkers,  it being
     understood that such special  projects and assignments  shall not exceed 20
     hours per week. Notwithstanding the provisions set forth in this paragraph,
     you will be permitted to act as a consultant on an  independent  contractor
     basis so long as the  provisions set forth in Paragraph 15 and the previous
     sentence are not violated.

2.   2001  Bonus:  For fiscal  year 2001 you shall be paid a bonus of  $135,000.
     Your  bonus  shall be  payable at the same time in 2002 as bonuses to other
     senior executives are paid. You will not be eligible for a bonus for fiscal
     year 2002.

3.   Severance  Payment:  You will be entitled  to receive a lump sum  severance
     payment of $225,000 payable within 10 days after the Employment Termination
     Date.

<PAGE>

Mr. Colin Maddix
October 30, 2001
Page 2

4.   Accrued  Vacation:  You will be paid an  amount  equal  to  eight  weeks of
     vacation.  Payment  will be made in a lump sum  within  ten days  after the
     Employment  Termination  Date.  You will not  continue to earn  vacation or
     other paid time off after the Employment Termination Date.

5.   Full Payment:  You agree that all payments provided to you under paragraphs
     1, 2 and 4 of this  Agreement are in complete  satisfaction  of any and all
     compensation due to you from the Company through the Employment Termination
     Date. You agree to reimburse the Company for all personal  expenses due and
     owing to the Company as of the Employment Termination Date.

6.   Employee  Benefit  Programs:  Your  participation  in all employee  benefit
     programs  of  the  Company  will  cease  effective  as  of  the  Employment
     Termination  Date in accordance with the terms of those programs.  You will
     have the option to elect to continue your health care coverage  under COBRA
     beginning on the day after the Employment  Termination Date for a period of
     up to 18  months,  in which  case the  Company  shall pay the full  monthly
     premium cost of your coverage under the applicable  health care plan for 18
     months.  Detailed information will be provided to you under separate cover.
     You will also have the option,  at your sole expense,  of  converting  your
     basic (not  supplemental)  life  insurance  coverage to an individual  plan
     through  Prudential.  If  interested,  please  let us know at least 30 days
     before the Employment  Termination Date and conversion  information will be
     furnished  to you. A  conversion  option is not  available  for  disability
     coverage.

7.   Thermo  Electron  Choice  Plan:  Your  active  participation  in the Thermo
     Electron  Choice  Plan  shall  end  on  the  Employment  Termination  Date.
     Information  will be provided to you  regarding  various  election  options
     available to you regarding your account.

8.   Stock Options:  No further vesting of your stock options in the Company and
     no further lapsing of the Company's  repurchase rights will occur after the
     Employment  Termination Date. If you do not exercise your vested options by
     the  earliest  of (i)  the  date  of the  original  expiration  date of the
     options,   (ii)  the  date  that  is  three  months  after  the  Employment
     Termination  Date (in the case of options  identified with an asterisk next
     to the grant ID  number  on the  attached  schedule)  or (iii)  the  second
     anniversary  of the Employment  Termination  Date (in the case of all other
     options identified on the attached schedule),  your options will expire and
     be  canceled,  and you will have no  further  rights  with  respect to your
     options.

9.   Taxes:  All payments by the Company under this Agreement will be reduced by
     all taxes and other amounts that the Company is required to withhold  under
     applicable law and all other deductions authorized by you.

10.  Company  Property:  You will return to the  Company any and all  documents,
     materials  and  information  related to the Company,  or its  subsidiaries,

<PAGE>
Mr. Colin Maddix
October 30, 2001
Page 3

     affiliates or businesses, and all other property of the Company, including,
     without  limitation,  equipment and files in your possession or control, on
     or before the Employment  Termination Date. Further,  you agree that on and
     after the date hereof you will not for any purpose attempt to access or use
     any  Company  computer  or computer  network or system,  including  without
     limitation its electronic mail system.

11.  Restricted  Stock:  Your 9,547  restricted  shares of the Company's  common
     stock shall vest on January 2, 2002.

12.  Outplacement Services: You will be entitled to utilize until March 1, 2003,
     at no cost to you, the services of an outplacement  firm in the Pittsburgh,
     Pennsylvania  area  selected  by the  Company,  up to a  maximum  charge of
     $20,000 for such services.

13.  Release: In exchange for the consideration described in paragraph 3 hereof,
     you hereby  irrevocably  and  unconditionally  waive,  release,  acquit and
     forever discharge the Company and each of its respective current, former or
     future   officers,   directors,    employees,   agents,    representatives,
     shareholders and legal predecessors and successors from any and all claims,
     liabilities, damages, actions, causes of action and suits, whether known or
     unknown, which you now have, own or hold, or claim to have, own or hold, or
     which at any time  heretofore,  had owned or held, or claimed to have owned
     or held, or which you at any time hereafter may have, own or hold, or claim
     to have  owned or held  against  them,  based  upon,  arising  out of or in
     connection with any circumstance, matter or state of fact up to the date of
     this agreement,  including  without  limitation those based upon or arising
     out of the termination of your employment and other  relationships with the
     Company,  your  service as an  officer or  director  of the  Company,  your
     compensation while employed by the Company, your stock options or any terms
     thereof or relating thereto and any of the Company's  policies,  procedures
     or requirements.  This release includes,  but is not limited to, any claims
     for breach of contract, wrongful termination, or age, sex, race, disability
     or other discrimination under the Civil Rights Act of 1964, as amended, the
     Age  Discrimination  in Employment Act of 1967 or other  federal,  state or
     local laws  prohibiting  such  discrimination  or under any other  federal,
     state or local employment laws.

     YOU  UNDERSTAND  AND  ACKNOWLEDGE  THAT YOU HAVE BEEN  ADVISED  TO SEEK THE
     ADVICE OF AN ATTORNEY,  IF YOU SO CHOOSE, PRIOR TO SIGNING THIS RELEASE AND
     TO THE EXTENT  DESCRIBED HEREIN YOU ARE GIVING UP ANY LEGAL CLAIMS YOU HAVE
     AGAINST THE COMPANY AND EACH OF ITS  RESPECTIVE  CURRENT,  FORMER OR FUTURE
     OFFICERS,  DIRECTORS,  EMPLOYEES,  AGENTS,  REPRESENTATIVES,  SHAREHOLDERS,
     LEGAL  PREDECESSORS  AND  SUCCESSORS BY SIGNING THIS  RELEASE.  YOU FURTHER
     UNDERSTAND THAT YOU MAY HAVE 21 DAYS TO CONSIDER THIS  AGREEMENT,  THAT YOU
     MAY REVOKE IT AT ANY TIME DURING THE SEVEN DAYS AFTER YOU SIGN IT, AND THAT

<PAGE>

Mr. Colin Maddix
October 30, 2001
Page 4

     IT WILL NOT BECOME EFFECTIVE UNTIL THE 7-DAY  REVOCATION  PERIOD HAS PASSED
     WITHOUT  REVOCATION.  YOU FULLY  UNDERSTAND  YOUR  RIGHT TO TAKE 21 DAYS TO
     CONSIDER SIGNING THIS RELEASE AND, AFTER HAVING SUFFICIENT TIME TO CONSIDER
     YOUR OPTIONS,  YOU HEREBY WAIVE YOUR RIGHT TO TAKE THE FULL 21-DAY  PERIOD.
     YOU ACKNOWLEDGE THAT YOU ARE SIGNING THIS RELEASE KNOWINGLY,  WILLINGLY AND
     VOLUNTARILY  IN EXCHANGE  FOR THE  CONSIDERATION  DESCRIBED  IN PARAGRAPH 3
     HEREOF.

14.  Restriction on Purchase or Sale of Common Stock:  You  understand  that you
     will no longer be a  "Reporting  Person," for purposes of Section 16 of the
     Securities  Exchange Act of 1934 and the rules and regulations  promulgated
     thereunder.  However,  you  understand  that  for a  period  of six  months
     following the date hereof you are required to report  certain  transactions
     pursuant to such rules and regulations on Forms 4 and 5.

15.  Non-Compete.  Until November 1, 2002 (the "Non-Compete  Period"), you shall
     not,  either  directly or indirectly as a stockholder,  investor,  partner,
     director,  officer,  employee  or  consultant,  compete  or  engage  in any
     business that competes,  anywhere in the world, with a business in the Life
     Sciences sector of the Company;  provided,  however,  that those businesses
     that  compete with a Life  Sciences  business  shall be excluded  from this
     non-competition  restriction  if  the  Life  Science  business  has  annual
     revenues of less than 5 million dollars. Notwithstanding the foregoing, you
     may  own,  solely  as an  investor,  up to 1% of the  common  stock  of any
     publicly-traded  competitor.  You agree that the  duration  and  geographic
     scope of this non-competition  provision are reasonable.  In the event that
     any court  determines  that the duration or geographic  scope, or both, are
     unreasonable and that such provision is to that extent  unenforceable,  the
     parties agree that the provision  shall remain in full force and effect for
     the greatest time period and in the greatest geographic area that would not
     render it  unenforceable.  The  parties  intend  that this  non-competition
     provision shall be deemed a series of separate covenants,  one for each and
     every  county  of each  and  every  state of the  U.S.  and each and  every
     political  subdivision  of each  and  every  country  outside  of the  U.S.
     Further,  during the  Non-Compete  Period,  you hereby agree you shall not,
     either  directly  or  indirectly  as  a  stockholder,   investor,  partner,
     director, officer, employee or otherwise, attempt to induce any employee of
     the Company to terminate his or her employment with the Company, or hire or
     caused to be hired any such  employee so induced,  or attempt to induce any
     customer or supplier of the Company to terminate its relationship  with the
     Company.

16.   Resignation. You hereby resign effective as of November 1, 2001 all of
      your positions as an officer and director of the Company. Notwithstanding
      the foregoing, you shall remain an employee until the Employment
      Termination Date in accordance with the terms of paragraph 1 above and
      shall be entitled to continue to participate until the Employment
      Termination Date in the Company's automobile program for officers and its
      executive supplemental medical reimbursement program.
<PAGE>
Mr. Colin Maddix
October 30, 2001
Page 5

17.  Non-Disparagement:  You agree that you will continue to support and promote
     the  interests of the Company and that you will not  criticize,  disparage,
     defame or in any way comment  negatively to anyone about the Company or any
     of the people or  organizations  connected with them, or do or say anything
     that could  disrupt  the good  morale of the  employees  of the  Company or
     otherwise  harm the  interests or  reputation of the Company and any of the
     organizations  or people  connected  with them.  The Company agrees that it
     will cause the  officers  of the  Company not to  criticize,  disparage  or
     defame you or otherwise do or say anything that harms your  reputation  and
     that  the  Company  shall  be  solely  responsible  for any  breach  of the
     provisions  in this  paragraph  17 by any such  officers.  Nothing  in this
     provision  shall  prevent the parties from (i)  complying  with  compulsory
     legal process or otherwise making disclosures in connection with litigation
     or  administrative  proceedings,   (ii)  making  such  disclosures  as  are
     necessary to obtain legal advice,  (iii) making disclosures as are required
     by  federal,  state  or  local  regulatory  authorities,  and  (iv)  making
     disclosures which by law are required or cannot be prohibited.

18.  Cooperation:  You  agree to  reasonably  cooperate  with the  Company  with
     respect  to all  matters  arising  during or  related  to your  employment,
     including  but  not  limited  to   cooperation   in  connection   with  any
     governmental  investigation,  litigation or regulatory or other  proceeding
     which may have  arisen or which may arise  following  the  signing  of this
     Agreement.

19.  Waiver of Jury Trial: Each of the parties hereby  expressly,  knowingly and
     voluntarily  waives all  benefit and  advantage  of any right to a trial by
     jury,  and each agrees that he or it will not at any time insist  upon,  or
     plead or in any manner  whatsoever  claim or take the benefit or  advantage
     of,  a  trial  by  jury in any  action  arising  in  connection  with  this
     Agreement.

20.  Company Information and Invention  Agreement.  You agree to comply with the
     terms of a Thermo Electron Company Information and Invention  Agreement,  a
     copy of which is  attached  hereto.  Such  agreement  supersedes  any prior
     agreement covering the same subject matter,  which you may have signed with
     the Company previously.

21.  Entire Agreement: This letter contains the entire Agreement between you and
     the  Company  and  supersedes  all  prior and  contemporaneous  agreements,
     communications and understandings, whether written or oral, relating to the
     subject matter of this letter, including your Executive Retention Agreement
     (which is hereby  canceled),  except  that your  Indemnification  Agreement
     entered  into with the  Company on  January  18,  2001,  a copy of which is
     attached hereto, and the Thermo Electron Company  Information and Invention
     Agreement shall survive in accordance with their terms. This Agreement will
     be  governed  by  and  interpreted  in  accordance  with  the  laws  of the
     Commonwealth of Massachusetts without regard to choice of law provisions.
<PAGE>
Mr. Colin Maddix
October 30, 2001
Page 6

22.  Severability:  If one or more  provisions of this  Agreement are held to be
     unenforceable  under  applicable law, such provision shall be excluded from
     this Agreement and replaced with a provision which is enforceable and comes
     closest  to  the  intent  of  the  parties   underlying  the  unenforceable
     provision.

23.  Relief:  In the event of breach of the  provisions of this Agreement by any
     party,  in  addition to any other  rights  that the other  parties may have
     under  law or in  equity,  each  party  shall  have the  right to  specific
     performance and injunctive  relief,  it being  acknowledged and agreed that
     money damages will not provide an adequate remedy.  In the event litigation
     is brought with respect to this  Agreement,  the prevailing  party shall be
     entitled to recover from the losing party his or its reasonable  attorney's
     fees and expenses.  24.  Successors and Assigns:  This  Agreement  shall be
     binding  upon and inure to the  benefit  of the  parties  hereto  and their
     respective  successors and assigns,  including  corporations with which, or
     into  which,  the  Company  may be  merged  or  which  may  succeed  to its
     respective assets or business; provided, however, that your obligations are
     personal and may not be assigned.

25.  Amendment:  This  Agreement  may be amended or  modified  only by a written
     instrument executed by you and the Company.

26.  Voluntary  Agreement:  In  signing  this  Agreement,  you give the  Company
     assurance that you have signed it voluntarily and with a full understanding
     of its terms and that you have had sufficient  opportunity to consider this
     Agreement and to consult with anyone of your choosing before signing it. If
     the terms of this Agreement are  acceptable to you,  please sign and return
     it to the undersigned.  At the time you sign and return this Agreement,  it
     will take effect as a legally binding agreement between you and the Company
     on the basis set forth above.

Date Received by Addressee: November 1, 2001

                                   THERMO ELECTRON CORPORATION

                                   By:       /s/ Stephen G. Sheehan
                                             --------------------------------
                                   Title:    Vice President, Human Resources

Accepted and Agreed to:

/s/ Colin Maddix
------------------------

<PAGE>

                      COMPANY INFORMATION AND INVENTION AGREEMENT

     In consideration  and as a condition of my employment,  or if now employed,
the continuation of my employment by Thermo Electron Corporation or a subsidiary
thereof  (hereinafter  collectively  called the "Company") and the  compensation
paid therefor:

1.   I agree  not to  disclose  to others  or use for my own  benefit  during my
     employment  by the  Company  or  thereafter  any trade  secrets  or Company
     private information pertaining to any of the actual or anticipated business
     of the Company or any of its customers,  consultants, or licensees acquired
     by me during the period of my  employment,  except to such an extent as may
     be necessary in the ordinary  course of performing my particular  duties as
     an employee of the Company.

2.   I agree not to  disclose to the  Company,  or to induce the Company to use,
     any confidential information or material belonging to others.

3.   I understand that the making of inventions,  improvements,  and discoveries
     is one of the incidents of my employment,  or that if not I may nonetheless
     make  inventions  while  employed by the Company,  and I agree to assign to
     Thermo  Electron  Corporation  or its nominee my entire right,  title,  and
     interest in any invention,  idea, device, or process, whether patentable or
     not, hereafter made or conceived by me solely or jointly with others during
     the period of my  employment  by the Company in an  executive,  managerial,
     planning,  technical,  research,  engineering,  or other capacity and which
     relates in any manner to the  business  of the  Company,  or relates to its
     actual or planned research or development,  or is suggested or results from
     any task  assigned  to me or work  performed  by me for or in behalf of the
     Company,  except any  invention  or idea which  cannot be  assigned  by the
     Company  because  of  a  prior  agreement  with  __________None____________
     effective  until  __________________________  (give  name and date or write
     "none").

4.   I agree, in connection with any invention, idea, device, or process covered
     by paragraph 3:

a)   To disclose  it  promptly in writing to the proper  officers or attorney of
     the Company.

b)   To execute  promptly,  on  request,  patent  applications  and  assignments
     thereof to Thermo Electron or its nominees and to assist the Company in any
     reasonable  manner to enable it to secure a patent  therefor  in the United
     States and any foreign countries,  all without further  compensation except
     as provided herein.

<PAGE>

5.   I further  agree that all papers and records of every kind  relating to any
     invention or improvement  included with the terms of the  Agreement,  which
     shall at any time come into my  possession  shall be the sole and exclusive
     property  of the Company  and shall be  surrendered  to the Company or upon
     request at any other time either  during or after the  termination  of such
     employment.

6.   I further  agree that the  obligations  and  undertakings  stated  above in
     paragraph 4b shall continue  beyond the termination of my employment by the
     Company,  but if I am  called  upon to  render  such  assistance  after the
     termination  of my  employment,  then I shall  be  entitled  to a fair  and
     reasonable per diem in addition to reimbursement  of any expenses  incurred
     at the request of the Company.

7.   I agree to identify in an  attachment to this  Agreement all  inventions or
     ideas related to the business or actual or planned  research or development
     of the Company in which I have right,  title,  or interest,  and which were
     conceived  either  wholly  or in part by me prior to my  employment  by the
     Company but neither  published  nor filed in the U.S.  Patent and Trademark
     Office.

8.   I  understand  that this  Agreement  supersedes  any  agreement  previously
     executed by me relating to the  disclosure,  assignment  and  patenting  of
     inventions,  improvements, and discoveries made during my employment by the
     Company.  This Agreement  shall inure to the benefits of the successors and
     assigns  of the  Company  and  shall be  binding  upon my  heirs,  assigns,
     administrators, and representatives.

9.   I  understand  that this  Agreement  does not apply to an  invention  which
     qualifies  fully under the  provisions of any statute or  regulation  which
     renders  unenforceable  the  required  assignment  or  transfer  of certain
     inventions made by an employee such as, but not limited to, Section 2870 of
     the California Labor Code.

                                   /s/ Colin Maddix
                                   -----------------------------------
                                   Employee

/s/ D. E. Maddix                   November 1, 2001
-----------------------            -----------------------------------
Witness                            Date

                                   THERMO ELECTRON CORPORATION

/s/ Mary Connell                   By:  /s/ Stephen G. Sheehan
--------------------------              -------------------------------
Witness
                                   October 31, 2001
                                   ------------------------------------
                                   DateEXHIBIT 10.2
                              [Company Letterhead]

October 15, 2001

Mr. David Fielding
Mr. Lou Bagnoli
NEX Products, Inc.
25 Sheffield Street
Toronto, ON  M6M 3E5

Re:  Termination of International Distribution Agreement

Dear Dave and Lou:

Pursuant to Section 10, we are terminating the International Distribution
Agreement dated January 10, 2001 for breach of Sections 2.5 and 4.2. Notice of
these breaches have been provided in my letters of August 24, 2001 and September
13, 2001 and the 30 day notice period required has expired.

Although the International Distribution Agreement is of no further force in
effect, we hope that we can continue to maintain a customer/supplier
relationship which will be mutually beneficial to both parties.

Very truly yours,

/s/ Jonathan W. Painter
-----------------------
Jonathan W. Painter
President and CEO

Cc:     William Rainville
        Thomas O'Brien
        Sandra Lambert, Esq.
        Steve Anderson
        Norman Thibault

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