Document:

EX-10.6

 

EXHIBIT 10.6

NONCOMPETITION AGREEMENT

      THIS AGREEMENT, dated as of November 9, 2006 is made by and between Guy Broadbent, an
individual residing at 37 Lettery Circle, Sudbury, MA 01776 (the “Employee”), and Thermo
Fisher Scientific Inc., a Delaware corporation whose principal offices are located at 81 Wyman
Street, Waltham, Massachusetts 02454 (“Employer”).

      WHEREAS, Employer, including its subsidiaries and affiliates, is the world leader in the
manufacture, development and distribution of scientific and diagnostic instruments, equipment,
supplies, workstations and chemicals used by clinical and research laboratories, universities and
other life and health sciences customers, as well as diagnostic instruments, test materials and
related products for clinical laboratories; and teaching aids for science education. In addition,
Employer is a leading supplier of occupational health and safety products and maintenance, repair
and operating materials. Employer is also a pioneer in the development of electronic and internet
purchasing, marketing and distribution systems.

      WHEREAS, Employer has developed and continues to develop and use certain trade secrets,
customer lists and other proprietary and confidential information and data, which Employer has
spent a substantial amount of time, effort and money, and will continue to do so in the future, to
develop or acquire such proprietary and confidential information and to promote and increase its
good will.

      NOW, THEREFORE, in consideration of Employee’s continued employment by Employer or a
subsidiary or affiliate thereof, and Employee’s compensation, in particular additional valuable
consideration including, but not limited to the items listed on Exhibit A attached hereto, the
receipt of which is conditioned, at least in part, upon Employee’s execution and delivery of this
Agreement, Employee understands and agree to the following:

      Section 1. Employee recognizes and acknowledges that it is essential for the proper
protection of the Employer’s legitimate business interests that Employee be restrained for a
reasonable period following the termination of Employee’s employment with the Employer, either
voluntarily or involuntarily, from competing with Employer as set forth below.

      Employee acknowledges and agrees that during the term of Employee’s employment with Employer,
and for a period of twelve (12) months thereafter, Employee will not, directly or indirectly,
engage, participate or invest in or be employed by any of the companies listed on Exhibit B
attached hereto within the Restricted Area, as defined below, all of which are deemed by the
Employer and the Employee to be competitors of the Employer. The foregoing restrictions shall apply
regardless of the capacity in which Employee engages, participates or invests in or is employed by
a given business, whether as owner, partner, shareholder, consultant, agent, employee, co-venturer
or otherwise. In the event that after the date hereof any of the companies listed on Exhibit B is
acquired by or is merged with a company not listed on Exhibit B, thenExhibit B shall be deemed to
be amended to include the name of the acquirer or the successor to the listed company. After the
date hereof, Employer may amend Exhibit B by written notice to Employee delivered within thirty
(30) days following Employer’s acquisition of a company after the date hereof, to add a competitor
of such acquired company, and provided

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that such competitor has annual revenues at that time of at least $300 million. The previous
sentence notwithstanding, in the event that after the date hereof, the Employer is acquired by a
third party, the right of the Employer or its successor to add competitors to Exhibit B pursuant to
the previous sentence shall terminate upon the closing of the acquisition of Employer.

      “Restricted Area” shall mean each state and territory of the United States of America and each
country of the world outside of the United States of America in which Employer had developed,
marketed, sold and/or distributed its products and/or services within the last two (2) years of
Employee’s employment.

      Section 2. During the term of Employee’s employment with Employer and for a period of
twelve (12) months after termination of the Employee’s employment with the Employer for any reason,
Employee will not: (i) employ, hire, solicit, induce or identify for employment or attempt to
employ, hire, solicit, induce or identify for employment, any employee(s) of the Employer to leave
his or her employment and become an employee, consultant or representative of any other entity
including, but not limited to, Employee’s new employer, if any; and/or (ii) on behalf of any of the
companies listed on Exhibit B attached hereto, solicit, aid in or encourage the solicitation of,
contract with, aid in or encourage the contracting with, service, or contact any person or entity
which is or was, within the two (2) years prior to Employee’s termination of employment with
Employer, a customer or client of Employer, for purposes of marketing, offering or selling a
product or service competitive with Employer.

      Section 3. For the period of twelve (12) months immediately following the end of
Employee’s employment by Employer, Employee will inform each new employer, prior to accepting
employment, of the existence of this Agreement and provide that employer with a copy of this
Agreement.

      Section 4. Employee understands and agrees that the provisions of this section shall
not prevent Employee from acquiring or holding publicly traded stock or other publicly traded
securities of a business, so long as Employee’s ownership does not exceed 1% percent of the
outstanding securities of such company of the same class as those held by Employee or from engaging
in any activity or having an ownership interest in any business that is reviewed by the Board of
Directors of Employer.

      Section 5. Employee acknowledges that the time, geographic and scope of activity
limitations set forth herein are reasonable and necessary to protect the Employer’s legitimate
business interests. However, if in any judicial proceeding a court refuses to enforce this
Agreement, whether because the time limitation is too long or because the restrictions contained
herein are more extensive (whether as to geographic area, scope of activity or otherwise) than is
necessary to protect the legitimate business interests of Employer, it is expressly understood and
agreed between the parties hereto that this Agreement is deemed modified to the extent necessary to
permit this Agreement to be enforced in any such proceedings.

      Section 6. Employee further acknowledges and agrees that it would be difficult to
measure any damages caused to Employer which might result from any breach by Employee of

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any of the promises set forth in this Agreement, and that, in any event, money damages would be an
inadequate remedy for any such breach. Accordingly, Employee acknowledges and agrees that if he or
she breaches or threatens to breach, any portion of this Agreement, Employer shall be entitled, in
addition to all other remedies that it may have: (i) to an injunction or other appropriate
equitable relief to restrain any such breach without showing or proving any actual damage to
Employer; and (ii) if Employee fails substantially to cure such breach within thirty (30) days
following Executive’s receipt of written notice thereof from Employer, and if a final,
non-appealable order is entered by a court of competent jurisdiction holding Employee liable for a
breach of a material portion of this Agreement, to be relieved of any obligation to provide any
further payment or benefits to Employee or Employee’s dependents.

      Section 7. The parties acknowledge and agree that should it become necessary for
either party to file suit to enforce the covenants contained herein, the prevailing party in such
suit shall be entitled to recover his or its reasonable costs incurred in conducting the suit
including, but not limited, to reasonable attorneys’ fees and expenses.

      Section 8. The Employee acknowledges and agrees that this Agreement does not
constitute a contract of employment and does not imply that Employer or any of its subsidiaries
will continue the Employee’s employment for any period of time.

      Section 9. This Agreement represents the entire understanding of the parties with
respect to the subject matter hereof and any previous agreements or understandings between the
parties regarding the subject matter hereof are merged into and superseded by this Agreement.

      Section 10. This Agreement cannot be modified, amended or changed, nor may compliance
with any provision hereof be waived, except by an instrument in writing executed by the party
against whom enforcement of such modification, amendment, change or waiver is sought. Any waiver
by a party of the breach of any provision of this Agreement shall not operate or be construed as a
waiver of any other breach of such provision or of any breach of any other provision of this
Agreement. The failure of a party to insist upon strict compliance with any provision of this
Agreement at any time shall not deprive such party of the right to insist upon strict compliance
with such provision at any other time or of the right to insist upon strict compliance with any
other provision hereof at any time.

      Section 11. All notices, requests, demands, consents and other communications which
are required or permitted hereunder shall be in writing, and shall be deemed given when actually
received or if earlier, two days after deposit with the U.S. postal authorities, certified or
registered mail, return receipt requested, postage prepaid or two days after deposit with an
internationally recognized air courier or express mail, charges prepaid, addressed as follows:

      If to Employer:

Thermo Fisher Scientific Inc.

81 Wyman Street

Waltham, Massachusetts 02454

Attention: General Counsel

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      If to the Employee, at the address set forth above or to such other address as any party
hereto may designate in writing to the other party, specifying a change of address for the purpose
of this Agreement.

      Section 12. This Agreement may be executed in counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same instrument.

      Section 13. This Agreement shall be construed and interpreted in accordance with, and
shall be governed exclusively by, the laws of the Commonwealth of Massachusetts and the federal
laws of the United States of America.

      Section 14. This Agreement shall become null and void in the event that the Executive
Severance Agreement between the Employer and Employee dated November 19, 2003, as amended by
Amendment No. 1 dated November 9, 2006, is not renewed on its expiration date on terms at least as
favorable to Employee as currently provided in such agreement.

      Section 15. The Employer shall reimburse the Employee for legal fees incurred in the
negotiation and preparation of this Agreement and the other amendments and agreements being
executed contemporaneously herewith.

      Section 16. THE EMPLOYEE ACKNOWLEDGES THAT THE EMPLOYEE HAS CAREFULLY READ THIS
AGREEMENT AND HAS HAD ADEQUATE TIME AND OPPORTUNITY TO CONSULT WITH AN ATTORNEY OF THE EMPLOYEE’S
OWN CHOOSING REGARDING THE MEANING OF THE TERMS AND CONDITIONS CONTAINED HEREIN, AND THE EMPLOYEE
FURTHER ACKNOWLEDGES THAT THE EMPLOYEE FULLY UNDERSTANDS THE CONTENT AND EFFECT OF THIS AGREEMENT
AND AGREES TO ALL OF THE PROVISIONS CONTAINED HEREIN.

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

	 	 	 	 	 
	EMPLOYEE:	 	THERMO FISHER SCIENTIFIC INC.
	 
	 	 	 	 
	 
	 	 	 	 
	/s/
Guy Broadbent

	 	By:	 	/s/ Steve Sheehan
	 

	 	 	 	 
	Guy Broadbent	 	Name: Steve Sheehan
	 	 	Title: Senior Vice President, Human Resources

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EXHIBIT A

	(1)	 	Founders’ Stock Option Grant. Employee shall receive nonqualified stock options to
purchase 151,400 shares of Thermo Fisher Scientific Inc. Common Stock pursuant to the Thermo
Fisher Scientific Inc. 2005 Equity Incentive Plan, as amended and restated on November 9,
2006, on the terms set forth in the Stock Option Agreement attached hereto as Exhibit A-1.
	 
	(2)	 	Restricted Stock Award. Employee shall receive an award of 13,000 restricted shares
of Thermo Fisher Scientific Inc. Common Stock pursuant to the Thermo Fisher Scientific Inc.
2005 Equity Incentive Plan, as amended and restated on November 9, 2006, on the terms set
forth in the Restricted Stock Agreement attached hereto as Exhibit A-2.
	 
	(3)	 	Performance Restricted Stock Award. Employee shall receive an award of 13,000
performance restricted shares of Thermo Fisher Scientific Inc. Common Stock pursuant to the
Thermo Fisher Scientific Inc. 2005 Equity Incentive Plan, as amended and restated on November
9, 2006, on the terms set forth in the Performance Restricted Stock Agreement attached hereto
as Exhibit A-3.
	 
	(4)	 	Amendment to Executive Severance Agreement. Employer and Employee agree to amend the
Employee’s Executive Severance Agreement dated November 19, 2003 to provide that if the
Employee’s service with Employer is terminated without “cause” (as that term is defined in the
Executive Severance Agreement), Employee shall be entitled to receive a lump sum payment equal
to two times Employee’s annual salary and target bonus as of the date of the termination of
Employee’s service. Attached hereto as Exhibit A-4 is Amendment No. 1 to Employee’s Executive
Severance Agreement.
	 
	(5)	 	Term Life Insurance Policy. Employer shall use its commercial best efforts to obtain
a term life insurance policy on the life of Employee providing for a death benefit of at least
$3,000,000 payable to a beneficiary or beneficiaries designated by the Employee. The premiums
for such policy will be paid by the Employer for so long as Employee serves as an employee,
officer, director or consultant of Employer or any of its subsidiaries. Upon the termination
of Employee’s service, Employer agrees to transfer the policy to a party designated by
Employee, subject to applicable laws or regulations.

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EXHIBIT B

List of Competitors

Agilent Technologies, Inc.

Applera Corp. / Applied Bio

Becton Dickinson & Co.

Bio Rad Labs, Inc.

Brucker Biosciences Corp.

Invitrogen Corp.

Millipore Corp.

Mettler Toledo International

Perkin Elmer, Inc.

Qiagen N V

Sigma Aldrich Corp.

VWR

Varian, Inc.

Waters Corp.

6EX-10.7

 

EXHIBIT 10.7

AMENDMENT NO. 1 TO

EXECUTIVE SEVERANCE AGREEMENT

      This AMENDMENT NO. 1 (the “Amendment”) to the Executive Severance Agreement dated November 19,
2003 (the “Agreement’) by and between THERMO ELECTRON CORPORATION, a Delaware corporation (the
“Company”), and Marc N. Casper (the “Executive”) is made this 9th day of November, 2006 by and
between the Company and the Executive. Capitalized terms used but not otherwise defined herein
shall have the meanings ascribed to such terms in the Agreement.

      WHEREAS, the Company and the Executive have entered into the Agreement for the purpose of
describing the severance benefits that the Executive would receive in the event that Executive’s
employment with the Company is terminated under certain circumstances;

      WHEREAS, on November 9, 2006, the Company completed a merger with Fisher Scientific
International Inc. (the “Merger”), pursuant to which, among other things, the Company changed its
name to Thermo Fisher Scientific Inc.;

      WHEREAS, in connection with the Merger, the Company is making grants of options and restricted
shares to its executives and as a condition of such grants, the Company is requiring that the
executives sign a noncompetition agreement; and

      WHEREAS, the Company and the Executive have agreed to amend the Agreement in connection with
Executive’s execution of the noncompetition agreement between the Company and the Executive of even
date herewith;

      NOW, THEREFORE, in consideration for the mutual promises contained herein, the parties hereby
agree as follows.

      1. Amendments to Agreement.

          (a) All references to “Thermo Electron Corporation” in the Agreement are hereby amended to
read “Thermo Fisher Scientific Inc.”

          (b) Section 1 of the Agreement is hereby amended to add a new sub-section 1.4 to be and read
as follows:

          “1.4 “Good Reason” means the occurrence, without the Executive’s written consent, of
any of the events or circumstances set forth in clauses (a) through (f) below. Notwithstanding the
occurrence of any such event or circumstance, such occurrence shall not be deemed to constitute
Good Reason if, prior to the effective date of termination (which shall be not less than 15 days
following delivery of written notice of termination by Executive to the Company), such event or
circumstance has been fully corrected and the Executive has been reasonably compensated for any
losses or damages resulting therefrom.

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                    (a) the assignment to the Executive of duties inconsistent in any material respect with the
Executive’s position (including status, offices, titles and reporting requirements), authority or
responsibilities in effect as of the date of this Agreement or a material diminution in such
position, authority or responsibilities;

                    (b) a reduction in the Executive’s annual base salary as in effect on the date of
this Agreement or as the same was or may be increased hereafter from time to time;

                    (c) the failure by the Company to (i) continue in effect any material compensation or benefit
plan or program, including without limitation any life insurance, medical, health and accident or
disability plan and any vacation program or policy, in which the Executive participates or which is
applicable to the Executive (a “Benefit Plan”), unless an equitable arrangement (embodied in an
ongoing substitute or alternative plan) has been made with respect to such plan or program, (ii)
continue the Executive’s participation therein (or in such substitute or alternative plan) on a
basis not materially less favorable than the basis previously existing (iii) award cash bonuses to
the Executive in amounts and in a manner substantially consistent with past practice in light of
the Company’s financial performance and Executive’s performance or (iv) continue to provide any
material fringe benefit previously enjoyed by Executive;

                    (d) a change by the Company in the location at which the Executive performs the Executive’s
principal duties for the Company to a new location that is both (i) outside a radius of 50 miles
from the Executive’s principal residence and (ii) more than 30 miles from the location at which the
Executive performed the Executive’s principal duties for the Company immediately prior to the date
of this Agreement; or a requirement by the Company that the Executive travel on Company business to
a substantially greater extent than required immediately prior to the date of this Agreement;

                    (e) the failure of the Company to obtain the agreement from any successor to the Company to
assume and agree to perform this Agreement, as required by Section 6.1; and

                    (f) any failure of the Company to pay or provide to the Executive any portion of the
Executive’s compensation or benefits due under any Benefit Plan within seven days of the date such
compensation or benefits are due (provided, however, that in the case of benefits, the Company
shall have a period of 30 days after receipt of notice from Executive to cure any default), or any
material breach by the Company of this Agreement or any employment agreement with the Executive.

      The Executive’s right to terminate the Executive’s employment for Good Reason shall not be
affected by the Executive’s incapacity due to physical or mental illness.”

          (c) Section 2 of the Agreement is hereby amended and restated in its entirety as follows:

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          “2. Term of Agreement. This Agreement, and all rights and obligations of the parties
hereunder, shall take effect upon the Effective Date and shall expire upon the first to occur of
(a) the expiration of the Term (as defined below) or (b) the fulfillment by the Company of all of
its obligations under Sections 4 and 6.2 if the Executive’s employment with the Company terminates
prior to the expiration of the Term. “Term” shall mean the period commencing as of the Effective
Date and continuing in effect through November 9, 2011; provided, however, that on
November 9, 2011 and each November 9 thereafter, the Term shall be automatically extended for one
additional year unless, not later than six months prior to the scheduled expiration of the Term
(including any extension) thereof, the Company shall have given the Executive written notice that
the Term will not be extended.”

          (d) The initial clause of Section 4.1(a) of the Agreement is hereby amended and restated in
its entirety as follows:

          “(a) Termination Without Cause or for Good Reason. If the Executive’s employment with
the Company is terminated by the Company (other than for Cause, Disability or death) or by the
Executive for Good Reason, then the Executive shall be entitled to the following benefits:”

          (e) Section 4.1(a)(i) of the Agreement is hereby amended and restated in its entirety as
follows:

          “(i) the Company shall pay to the Executive in a lump sum in cash within 30 days after the
date of termination the aggregate of the following amounts:

                    (1) the sum of (A) the Executive’s base salary through the date of termination, (B) the
product of (x) the annual bonus paid or payable (including any bonus or portion thereof which has
been earned but deferred) for the most recently completed fiscal year and (y) a fraction, the
numerator of which is the number of days in the current fiscal year through the date of
termination, and the denominator of which is 365 and (C) the amount of any accrued vacation pay, to
the extent not previously paid (the sum of the amounts described in clauses (A), (B), and (C) shall
be hereinafter referred to as the “Accrued Obligations”); and

                    (2) the sum of (A) two (2) times the Executive’s annual base salary and target bonus as in
effect immediately prior to the date of termination, and (B) the amount of any accrued vacation
pay, to the extent not previously paid; and”

          (f) The reference to “18 months” in Section 4.1(a)(ii) is hereby amended to read “24 months”.

          (g) Section 4.1(b) of the Agreement is hereby amended and restated in its entirety as follows:

          “(b) Termination for Cause, Disability or Death. If the Company terminates the
Executive’s employment with the Company for Cause, then the Company shall (i) pay the Executive in
a lump sum in cash within 30 days after the date of termination, the Executive’s

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base salary through the date of termination and (ii) timely pay or provide to the Executive
the Other Benefits. If the Company terminates the Executive’s employment with the Company because
of the Executive’s disability or the Executive’s death, then the Company shall (i) pay the
Executive or the Executive’s estate, in a lump sum in cash within 30 days after the date of
termination, the Accrued Obligations and (ii) timely pay or provide to the Executive the Other
Benefits.

          (h) Section 4.4 of the Agreement is hereby amended and restated in its entirety as follows:

          “4.4. Release of Claims by Executive. The Executive shall not be entitled to any
payments or other benefits hereunder unless the Executive executes and, if applicable, does not
revoke, a full and complete release of claims and a reasonable and customary separation agreement
that includes nondisparagement and cooperation provisions. The parties further agree that the
separation agreement shall not include any restrictive covenants that are in addition to those
already contained in the Noncompetition Agreement between the Company and Executive dated November
9, 2006.

      2. Miscellaneous.

          (a) No Other Amendments. Except as specifically provided in this Amendment, no other
amendments, revisions or changes are made to the Agreement. All other terms and conditions of the
Agreement remain in full force and effect and the Parties hereby ratify and confirm their rights
and obligations under the Agreement, as amended hereby.

          (b) Counterparts. This Amendment may be executed in one or more counterparts, each of
which shall be considered an original instrument, but all of which shall be considered one and the
same agreement, and shall become binding when one or more counterparts have been signed by each of
the Parties and delivered to each of them.

          (c) Governing Law. This amendment and the rights and obligations of the parties
hereunder shall be governed by and construed and interpreted in accordance with the internal laws
of the Commonwealth of Massachusetts.

          (e) Effectiveness of Amendment. The amendments to the Agreement contemplated by this
Amendment shall become effective upon the execution of this Amendment by the Parties.

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      IN WITNESS WHEREOF, the parties hereto have executed this Amendment under seal as of the day
and year first set forth above.

	 	 	 	 	 
	 	THERMO FISHER SCIENTIFIC INC.

	 
	 	By:  	/s/
Steve Sheehan	 
	 	 	 	 
	 	 	 	 
	 
	 	EXECUTIVE:

	 
	 	 	 
	 	/s/ Marc N. Casper	 
	 	Marc N. Casper	 
	 

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