Document:

First Amendment to Note Purchase Agreement

 Exhibit 4.1 
 FIRST AMENDMENT 
 TO 
 NOTE PURCHASE AGREEMENT 
 FIRST AMENDMENT TO NOTE PURCHASE AGREEMENT, dated as
of July 14, 2006 (this “Amendment”), by and among Flextronics International Ltd., a Singapore company (the “Company”), acting through its branch office in Bermuda, and Silver Lake Partners Cayman, L.P., Silver Lake Investors
Cayman, L.P. and Silver Lake Technology Investors Cayman, L.P., as Holders of Notes (the “Silver Lake Investors”). 
 RECITALS 
 WHEREAS, the Company and the Silver Lake Investors are parties to the Note Purchase Agreement, dated as of
March 2, 2003 (the “Note Purchase Agreement”), relating to the issuance and sale by the Company of U.S. $200.0 million aggregate principal amount of the Company’s Convertible Junior Subordinated Notes, and wish to amend certain
provisions of the Note Purchase Agreement and the Notes as provided herein; and 
 WHEREAS, the Silver Lake Investors own $195.0
million aggregate principal amount of the Notes; 
 NOW, THEREFORE, in consideration of the premises and the agreements contained
herein, the parties hereto agree as follows: 
 SECTION 1. Definitions. Capitalized terms used herein and not otherwise defined
herein shall have the meanings specified in the Note Purchase Agreement. All references in the Note Purchase Agreement, as amended by this Amendment, and in the Notes to the Ordinary Shares shall mean the Company’s ordinary shares, no par
value. 
 SECTION 2. Amendment to Section 1 of the Note Purchase Agreement. Section 1 of the Note Purchase Agreement
is hereby amended as follows: 
 2.1. The definition of “Forced Conversion” is hereby deleted in its entirety. 
 SECTION 3. Amendment to Section 5.2 of the Note Purchase Agreement. Section 5.2 of the Note Purchase Agreement is hereby amended
by adding a new paragraph thereto which shall read as follows: 
 “The parties acknowledge that filings under the HSR Act
were previously made and that the clearance under such filings will expire on or about January 23, 2007. In the event that any additional filings under the HSR Act are required in connection with the issuance of Ordinary Shares upon settlement
of the Notes, the Silver Lake Investors (and their successors and assigns) shall pay the filing fees associated with any such filings on behalf of the 

 
Silver Lake Investors (and their successors and assigns) and the Company.” 
 SECTION 4. Amendment to Section 5.5 of the Note Purchase Agreement. Section 5.5 of the Note Purchase Agreement is hereby amended
by adding a new paragraph (e) thereto which shall read as follows: 
 “(e) The parties acknowledge that
Mr. James A. Davidson has served as the Silver Lake Board Designee. It is expressly agreed that if Mr. Davidson ceases to serve as a member of the Company’s Board of Directors for any reason, including by reason of his
resignation, death or disability, Silver Lake shall cease to have the right to select another Board Designee. It is further agreed that for purposes of determining whether Silver Lake and its Affiliates collectively hold not less than fifty percent
(50%) of the Notes (or the Ordinary Shares issuable upon conversion thereof) issued to Silver Lake and its Affiliates on the Closing Date, transfer of ownership in a forward sale or other derivative transaction shall be deemed effective when
the forward sale or other derivative transaction matures and not when the contract is entered into.” 
 SECTION 5. Amendments
to Section 7.1 of the Note Purchase Agreement. Section 7.1 of the Note Purchase Agreement is hereby amended as follows: 
 5.1.
The following sentence shall be added to the end of Section 7.1(c): 
 “Notwithstanding the Company’s policies and the
foregoing pre-approval procedures, the Company agrees that any Silver Lake Investor or any Affiliate of a Silver Lake Investor that is a permitted transferee may, subject to the restrictions in Sections 7.1 (b) and (d) and compliance with
applicable law, engage in any hedging transactions (including any put, call or short sale, whether or not in a “collar” or similar transaction) without review of or approval of the specific hedging transaction, and subject only to the
Company’s general policies (including pre-clearance) that restrict officers and directors from trading on the basis of material, non-public information or during periods in which the Company otherwise restricts transactions in Company
securities by its officers and directors.” 
 5.2. A new paragraph (d) shall be added, which shall read as follows: 
 “(d) Notwithstanding the foregoing, for a period commencing on the effective date of the First Amendment to Note Purchase Agreement
and expiring on December 15, 2006 (the “Lock-Up Period”), no Silver Lake Investor may Transfer any of the Securities except for Transfers to an Affiliate of such Silver 

  

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Lake Investor, provided that the transferee delivers a written instrument to the Company in form and substance reasonably satisfactory to the Company
confirming that the transferee is subject to the obligations of this Agreement (including the obligations contained in this Section 7(d)). For purposes of this Section 7, Transfer shall also mean any forward contract to sell, any sale of
any option or contract to purchase, any purchase of any option or contract to sell, any grant of any option, right or warrant to purchase, or any swap or other arrangement that transfers to another, in whole or in part, any of the economic
consequences of ownership of the Notes or the Ordinary Shares, whether any of the foregoing transactions is to be settled by delivery of the Notes, Ordinary Shares, in cash or otherwise (collectively, “Hedge”). After the
Lock-Up Period through the Final Maturity Date, no Silver Lake Investor may Transfer any of the Securities, except for Transfers (i) to an Affiliate of such Silver Lake Investor, provided that the transferee delivers a written instrument to the
Company in form and substance reasonably satisfactory to the Company confirming that the transferee is subject to the obligations of this Agreement (including the obligations contained in this Section 7(d)) or (ii) to any one or more bulge
bracket investment banking firms identified in writing by the Silver Lake Investors and agreed to by the Company (together with their successors and permitted assigns, the “Transferee Banks”) in one or more
transactions, provided that each applicable Transferee Bank delivers a written instrument to the Company in form and substance reasonably satisfactory to the Company confirming that the Transferee Bank is subject to the obligations of this
Agreement (including the obligations contained in this Section 7(d)) and further agrees that it may not resell its Notes but otherwise may Hedge its position. The restrictions in this Section 7.1(d) shall have no further effect after
the Final Maturity Date.” 
 SECTION 6. Amendment to Section 7.3 of the Note Purchase Agreement. Section 7.3 of
the Note Purchase Agreement is hereby amended by adding the words “AS AMENDED BY THE FIRST AMENDMENT TO NOTE PURCHASE AGREEMENT, DATED AS OF JULY 14, 2006,” immediately after the words “DATED AS OF MARCH 2, 2003.”

 SECTION 7. Amendments to Section 10.4 of the Note Purchase Agreement. Section 10.4 of the Note Purchase Agreement
is hereby amended as follows: 
 7.1. By providing that notices to the Company shall be addressed as follows: 
 Flextronics International Ltd., 
 acting
through its Bermuda branch 
 Canon’s Court 
 22 Victoria Street 
 Hamilton HM 12 
 Bermuda 
  

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 and 
 Flextronics International Ltd. 
 c/o Flextronics International USA, Inc. 
 2090 Fortune Drive 
 San Jose, CA 95131

 Attention: Chief Financial Officer 
 Facsimile: 408-428-0859 
 7.2. By substituting for the copied addressee the following: 
 Curtis, Mallet-Prevost, Colt & Mosle LLP 
 101 Park Avenue New York, 
 New York 10178 
 Attention: Jeffrey N. Ostrager, Esq. 
 Facsimile: 212-697-1559 
 SECTION 8. Amendment of the Silver Lake Investors’ Notes. Each of the Silver Lake Investors’ Notes is hereby amended as provided
in this Section 8. Concurrently with the execution and delivery of this Amendment, each Silver Lake Investor is surrendering its Note in exchange for a new Note for the same principal amount in the form of Schedule I hereto and reflecting the
amendments set forth in this Section 8. 
 8.1. The legend on the Note is hereby amended by adding the words “AS AMENDED BY THE
FIRST AMENDMENT TO NOTE PURCHASE AGREEMENT, DATED AS OF JULY 14, 2006,” immediately after the words “MARCH 2, 2003.” 
 8.2. The first paragraph of the Note is hereby amended by substituting “Bermuda” for “Hong Kong.” 
 8.3. The
first paragraph of the Note is hereby amended by amending the parenthetical “(or in Ordinary Shares as provided in Section 2(b))” to read “(and in Ordinary Shares, if any, as provided in Section 2(b)).” 
 8.4. The second paragraph of the Note is hereby amended by adding the words “, as amended by the First Amendment to Note Purchase Agreement, dated
as of July 14, 2006” immediately after the words “March 2, 2003.” 
  

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 8.5. Section 1 of the Note is hereby amended by deleting the defined term “Freely Tradeable
Shares” in its entirety and by adding the following definitions of “Daily Share Amounts” and “Volume Weighted Average Price” in appropriate alphabetical order as follows: 
 “Daily Share Amount” means, with respect to any Trading Day, a number of Ordinary Shares (but in no event less than zero)
determined by the following formula: 
  

									
	 (Volume Weighted Average Price per Ordinary Share for such Trading Day
	 	x	  	Face Amount of this Note divided by the Conversion Price in effect on such Trading Day)	 	–	  	Face
Amount of
this Note
	 Volume Weighted Average Price per Ordinary Share for such
Trading Day x 20

 “Volume Weighted Average Price” on any Trading Day means the price per
share of the Ordinary Shares as displayed on Bloomberg (or any successor service) page FLEX<equity>VAP in respect of the period from 9:30 a.m. to 4:00 p.m. (New York City time), on such Trading Day (or any such period commencing at the
official opening of trading and ending at the official close of trading on the principal trading market); or, if such price is not available, the Closing Price; or if such price is not available the market value per share of the Ordinary Shares on
such day as determined by a nationally recognized independent investment banking firm retained for this purpose by the Company. 
 8.6.
Section 2(b) of the Note is hereby amended so that it shall read as follows: 
 “(b) Net Share Settlement.

 (i) Unless this Note is paid, converted, settled or redeemed earlier pursuant to the terms of this Note, on July 31,
2009 (the “Final Maturity Date”), the Company shall make net share settlement of this Note to the Holder as follows: (i) the Company shall pay the Face Amount of this Note in cash; and (ii) if the Conversion Amount (as
hereinafter defined) is greater than the Face Amount of this Note, the Company shall deliver to the Holder a number of ordinary shares, no par value, of the Company (the “Ordinary Shares”) equal to the sum of the Daily Share Amounts
for each of the twenty (20) consecutive Trading Days immediately preceding the Final Maturity Date (such number of shares is hereafter referred to as the “Excess Amount”). “Conversion Amount” means the amount equal to
the average of the products for each of the twenty (20) consecutive Trading Days immediately preceding the Final Maturity Date of (A) the Face Amount of this Note divided by the then effective Conversion Price, and (B) the Volume
Weighted Average Price per share of the Ordinary Shares on such Trading Day. For purposes of this Section 2(b), the “Conversion Price” initially shall be $10.50, which shall be subject to adjustment as provided in Section 4. The
Holder must surrender this Note to the Company in order to receive settlement hereunder. Except as provided in this Section 2(b) and subject to Sections 5 and 6, the Holder may not convert, settle or redeem this Note. In the event that the
Holder is required to make filings under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in accordance with Section 5.2 of the Agreement, and for any related waiting periods to have expired or be terminated early
(collectively, the “HSR  

  

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Approval”), in order to acquire Ordinary Shares upon net share settlement under this Section 2(b), and if such HSR Approval shall not have
been obtained, then the Company shall not deliver any such shares until the HSR Approval shall have been obtained; provided that the number of Ordinary Shares to be delivered, if any, shall nevertheless be determined as provided above. For the
avoidance of doubt, the number of Ordinary Shares deliverable pursuant to this Section 2(b)(i) may not be less than zero and in no event will the Holder receive less than the Face Amount of this Note in cash on the Final Maturity Date.

 (ii) The Holder of this Note shall be deemed for U.S. law purposes to beneficially own any Ordinary Shares deliverable
pursuant to clause (i) above as of the Final Maturity Date (subject to HSR Approval). Not later than two Trading Days following the Final Maturity Date (and subject to HSR Approval), the Company shall promptly issue and deliver to each Holder a
certificate or certificates for the number of Ordinary Shares to which such Holder is entitled. In lieu of delivering physical certificates representing any Ordinary Shares deliverable upon net share settlement of Notes, provided the Company’s
transfer agent is participating in the Depository Trust Company (“DTC”) Fast Automated Securities Transfer program, upon request of the Holder, the Company may, at its election (and shall, upon the reasonable request of any
Holder), cause its transfer agent to electronically transmit the Ordinary Shares deliverable upon net share settlement of this Note to the Holder, by crediting the account of Holder’s prime broker with DTC through its Deposit Withdrawal Agent
Commission (“DWAC”) system, if such DWAC system is available for the issuance of such Ordinary Shares under the terms of this Note and the Note Purchase Agreement. The time periods for delivery described above shall apply to
the electronic transmittals through the DWAC system. The parties agree to coordinate with DTC to accomplish this objective. 
 (iii) The Company shall at all times during which the Notes shall be outstanding, have and keep available out of its authorized but unissued shares, for the purpose of effecting the net share settlement of the Notes, such number of its duly
authorized Ordinary Shares as shall from time to time be sufficient to effect the net share settlement of all outstanding Notes. 
 (iv) No fractional Ordinary Shares shall be issued upon any net share settlement of the Notes pursuant to Section 2(b). In lieu of fractional shares, the Company shall pay cash equal to such fraction multiplied by the Closing Price per
Ordinary Share on the Trading Day immediately preceding the Final Maturity Date. 
  

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 (v) If, pursuant to Section 4(e) or 4(f), this Note is subject to net share
settlement for any Excess Amount in cash, other securities, or assets or property in lieu of Ordinary Shares, then for purposes of determining the Excess Amount upon net share settlement, (A) the Conversion Amount shall mean the amount equal to
the average of the products for each of the twenty (20) consecutive Trading Days immediately preceding the Final Maturity Date of (I) the Face Amount of this Note divided by the then effective Conversion Price, and (II) the Volume Weighted
Average Price on such Trading Day of the amount of such cash, other securities, assets or property into which or for which one Ordinary Share was converted or exchanged in connection with the transaction or event under Section 4(e) or 4(f), and
(B) the Daily Share Amounts shall be based on the amount of such cash, other securities, assets or property into which or for which one Ordinary Share was converted or exchanged in connection with the transaction or event under
Section 4(e) or 4(f); provided further that for purposes of determining the Conversion Amount and the Daily Share Amounts, the Volume Weighted Average Price of any security other than Ordinary Shares shall be determined in the same manner as
for the Ordinary Shares, the Volume Weighted Average Price of cash will be the amount of such cash, and the Volume Weighted Average Price of any property, assets or securities which are not listed on a United States national or regional securities
exchange or reported on Nasdaq shall be determined by a nationally recognized investment banking firm mutually selected by the Company and the Holders of a majority of the outstanding principal amount of the Notes. The amount and kind of any cash,
other securities, assets or property to be delivered for any Excess Amount shall, to the maximum extent practicable, be in the same proportion as delivered in exchange or conversion for Ordinary Shares in connection with the transaction or event
under Section 4(e) or 4(f). The provisions of clauses (i) through (iv) above shall apply to any net share settlement under this clause (v) with such modifications as are necessary to take into account the substitution of any such
cash, other securities, assets or property for Ordinary Shares. 
 (vi) In the event of a Fundamental Change, the Holder shall
have the right to net share settle (to receive cash in the Face Amount of this Note and any Excess Amount in the consideration hereinafter described) all but not less than all of this Note effective upon the Fundamental Change. In the event of such
net share settlement, this Note shall be subject to net share settlement for any Excess Amount in the same cash, kind of securities, and other assets or property receivable by holders of Ordinary Shares in the transaction constituting the
Fundamental Change. For purposes of determining the Excess Amount upon net share settlement, the 

  

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Conversion Amount shall mean the product of (A) the Face Amount of this Note divided by the then effective Conversion Price, and (B) the Closing
Price on the effective date of the Fundamental Change of the amount of such cash, other securities, assets or property into which or for which one Ordinary Share is to be converted or exchanged in connection with the Fundamental Change; provided
further that for purposes of determining the Conversion Amount, the Closing Price of any security other than Ordinary Shares shall be determined in the same manner as for the Ordinary Shares, the Closing Price of cash will be the amount of such
cash, and the Closing Price of any property, assets or securities which are not listed on a United States national or regional securities exchange or reported on Nasdaq shall be determined by a nationally recognized investment banking firm mutually
selected by the Company and the Holders of a majority of the outstanding principal amount of the Notes. The amount and kind of any cash, other securities, assets or property to be delivered for any Excess Amount shall, to the maximum extent
practicable, be in the same proportion as delivered in exchange or conversion for Ordinary Shares in connection with the Fundamental Change. The provisions of clauses (i) through (iv) above shall apply to any net share settlement under
this clause (vi) with such modifications as are necessary to take into account the substitution of any such cash, other securities, assets or property for Ordinary Shares and otherwise to take into account the net share settlement upon the
Fundamental Change (including calculating the Excess Amount by reference to the Closing Price on the effective date of the Fundamental Change). In order to exercise any right to net share settle under this clause (vi), the Holder shall deliver
written notice of its election to net share settle, which may be delivered at any time from the time that the Holder receives notice of the Fundamental Change pursuant to Section 4(i) until the close of business on the effective date of the
Fundamental Change, provided that any such notice shall automatically be deemed withdrawn and of no effect if the Fundamental Change does not close. For purposes of this clause (vi), “Fundamental Change” shall mean the consolidation of the
Company with, or the merger of the Company with or into another person (other than a subsidiary of the Company), or the sale, lease, transfer, conveyance, or other disposition, in one or a series of related transactions, of all or substantially all
of the assets of the Company and its subsidiaries taken as a whole, or the consolidation of another person (other than a subsidiary of the Company) with, or the merger of another person (other than a subsidiary of the Company) into, the Company, in
each case in a transaction in which the outstanding Voting Shares of the Company are reclassified into, exchanged for or converted into the right to receive any other property or security, other than in each case 

  

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pursuant to a transaction in which the persons that beneficially owned, directly or indirectly, the Voting Shares of the Company immediately prior to the
transaction beneficially own, directly or indirectly, Voting Shares representing at least a majority of the total voting power of all outstanding classes of voting stock of the surviving or transferee person. Notwithstanding the foregoing, it will
not constitute a Fundamental Change if at least 90% of the consideration for the Voting Shares (excluding cash payments for fractional shares and cash payments made in respect of dissenter’s appraisal rights) in the transaction or transactions
constituting the Fundamental Change consists of common stock or similar securities traded on a United States national securities exchange or quoted on The Nasdaq Capital Market, or which will be so traded or quoted when issued or exchanged in
connection with the Fundamental Change.” 
 8.7. Section 2(d) of the Note is hereby amended by deleting the words “Section 3,
Section 4(b),” from the first line thereof. 
 8.8. Section 3 of the Note captioned “Optional Redemption” is hereby
deleted in its entirety and replaced with “[Intentionally Omitted].” 
 8.9. Section 4 of the Note is hereby amended so that
it shall read as follow: 
 “4. Adjustments to Conversion Price. The Conversion Price shall be subject to the
following adjustments: 
 (a) Adjustment for Share Splits and Combinations. If the Company shall at any time or from
time to time after the Issue Date effect a subdivision of the outstanding Ordinary Shares, the Conversion Price then in effect immediately before that subdivision shall be proportionately decreased. If the Company shall at any time or from time to
time after the Issue Date combine the outstanding Ordinary Shares, the Conversion Price then in effect immediately before the combination shall be proportionately increased. Any adjustment under this paragraph shall become effective at the close of
business on the date the subdivision or combination becomes effective (and, for purposes of calculating the Conversion Amount and the Daily Share Amount, corresponding adjustments shall be made to the calculation of the Volume Weighted Average
Price, if appropriate). 
 (b) Adjustment for Certain Dividends and Distributions. In the event the Company at any time
or from time to time after the Issue Date shall make or issue a dividend or other distribution payable in additional Ordinary Shares, then and in each such event the Conversion Price shall be decreased as of the time of such issuance, by multiplying
such Conversion Price by a 

  

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fraction, the numerator of which shall be the total number of Ordinary Shares outstanding immediately prior to such issuance and the denominator of which
shall be the total number of Ordinary Shares outstanding immediately prior to such issuance plus the number of such additional Ordinary Shares issuable in payment of such dividend or distribution (and, for purposes of calculating the Conversion
Amount and the Daily Share Amount, corresponding adjustments shall be made to the calculation of the Volume Weighted Average Price, if appropriate). 
 (c) Adjustment for Other Dividends and Distributions. 
 (i) In the event the Company
at any time, or from time to time after the Issue Date, shall declare or otherwise make or issue a dividend or other distribution payable in securities (including, without limitation, debt securities) of the Company (other than Ordinary Shares) or
other assets, rights, warrants or properties (including, without limitation, cash dividends and distributions), then, in each such event, immediately prior to the opening of business on the Trading Day following the record date for the determination
of stockholders entitled to receive such dividend or other distribution (the “Record Date”), the Conversion Price shall be reduced so that the Conversion Price shall thereafter equal the price determined by multiplying the Conversion Price
in effect immediately prior to the close of business on the Record Date by a fraction, the numerator of which shall be the average of the Volume Weighted Average Prices for the Ordinary Shares for the period consisting of the ten (10) Trading
Days immediately preceding (but not including) the Record Date (such price, the “Current Market Price”) less the amount of cash and the fair market value (which value shall be determined in good faith by the Board of
Directors, subject to 4(c)(iii) below) on the Record Date of any such securities, assets, rights, warrants or properties so distributed applicable to one Ordinary Share (determined on the basis of the number of Ordinary Shares outstanding on the
Record Date) and the denominator of which shall be the Current Market Price (and, for purposes of calculating the Conversion Amount and the Daily Share Amount, corresponding adjustments shall be made to the calculation of the Volume Weighted Average
Price, if appropriate). In the event that such dividend or distribution is cancelled without having been so paid or made, the Conversion Price shall again be adjusted to be the Conversion Price which would then be in effect if such dividend or
distribution had not been declared. 
 (ii) In the event the cash value or the fair market value of the non-cash portion
attributable to one Ordinary Share of any 

  

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securities, assets, rights, warrants or properties so distributed in (i) above is equal to or greater than the Current Market Price, then, in lieu of
the foregoing adjustment to the Conversion Price, adequate provision shall be made so that each Holder of Notes shall have the right to receive on the Final Maturity Date (i) a cash amount equal to the Face Amount of the Note; and (ii) if
the Conversion Amount is greater than the Face Amount of this Note, an amount of such securities, assets, rights, warrants and properties having a value equal to the Excess Amount; provided that for purposes of this clause (c)(ii), the provisions of
Section 2(b)(v) shall apply mutatis mutandis, with appropriate modifications to reflect that net share settlement for any Excess Amount shall be made in Ordinary Shares, as well as such securities, assets, rights, warrants and properties
received by holders of Ordinary Shares in such dividend or distribution, and the calculation of the Excess Amount, if any, shall reflect the Volume Weighted Average Price (computed on an ex-distribution basis) of the Ordinary Shares, as well as such
securities, assets, rights, warrants and properties. 
 (iii) If the Board of Directors determines the fair market value of
any dividend or distribution for purposes of this Section 4(c) by reference to the actual or when issued trading market for any securities, it must in doing so consider the prices in such market over the same period used in computing the
Current Market Price of the Ordinary Shares. 
 (iv) Rights or warrants distributed by the Company to all holders of Ordinary
Shares entitling the holders thereof to subscribe for or purchase shares of the Company’s capital stock (either initially or under certain circumstances), which rights or warrants, until the occurrence of a specified event or events (the
“Trigger Event”): (i) are deemed to be transferred with such Ordinary Shares; (ii) are not exercisable; and (iii) are also issued in respect of future issuances of Ordinary Shares, shall be deemed not to have
been distributed for purposes of this Section 4(c) (and no adjustment to the Conversion Price under this Section 4(c) will be required) until the occurrence of the earliest Trigger Event, whereupon such rights and warrants shall be deemed
to have been distributed and an appropriate adjustment (if any is required) to the Conversion Price shall be made under this Section 4(c). If any such right or warrants are subject to events, upon the occurrence of which such rights or warrants
become exercisable to purchase different securities, evidences of indebtedness or other assets, then the date of the occurrence of any and each such event shall be deemed to be the date of distribution with respect to new rights or warrants with
such rights (and a termination or expiration of the existing rights or warrants without exercise by any of the holders thereof). In addition, in the event of any distribution (or deemed 

  

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distribution) of rights or warrants, or any Trigger Event or other event (of the type described in the preceding sentence) with respect thereto that was
counted for purposes of calculating a distribution amount for which an adjustment to the Conversion Price under this Section 4(c) was made, (1) in the case of any such rights or warrants which shall all have been redeemed or repurchased
without exercise by any holders thereof, the Conversion Price shall be readjusted upon such final redemption or repurchase to give effect to such distribution or Trigger Event, as the case may be, as though it were a cash distribution, equal to the
per share redemption or repurchase price received by a holder or holders of Ordinary Shares with respect to such rights or warrants (assuming such holder had retained such rights or warrants), made to all holders of Ordinary Shares as of the date of
such redemption or repurchase, and (2) in the case of such rights or warrants which shall have expired or been terminated without exercise by any holders thereof, the Conversion Price shall be readjusted as if such rights and warrants had not
been issued. 
 (d) Adjustments for Certain Tender Offers. In case any tender offer made by the Company or any of its
subsidiaries for Ordinary Shares shall expire, then, immediately prior to the opening of business on the day after the expiration of the tender offer (the “Expiration Date”), the Conversion Price shall be reduced so that the
Conversion Price shall thereafter equal the price determined by multiplying the Conversion Price in effect immediately prior to the close of business on the Expiration Date by a fraction, the numerator of which shall be the product of the number of
Ordinary Shares outstanding (including Ordinary Shares tendered in the tender offer) on the Expiration Date multiplied by the Closing Price on the Trading Day next succeeding the Expiration Date and the denominator shall be the sum of (i) the
aggregate consideration (determined as the sum of the aggregate amount of cash consideration and the aggregate fair market value of any other consideration, which value shall be determined in good faith by the Board of Directors) payable to the
holders of Ordinary Shares based on the acceptance of all shares validly tendered and not withdrawn as of the close of business on the Expiration Date (such shares, the “Purchased Shares”) and (ii) the product of
(A) the number of Ordinary Shares outstanding (less any Purchased Shares) at the close of business on the Expiration Date and (B) the Closing Price on the Trading Day next succeeding the Expiration Date. Such adjustment shall become
effective immediately prior to the opening of business on the Trading Day immediately following the Expiration Date. If the application of this Section 4(d) to any tender offer would result in an increase in the Conversion Price, then no
adjustment shall be made pursuant to this Section 4(d). 
  

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 (e) Adjustment for Reclassification, Exchange or Substitution. If the Ordinary
Shares issuable upon the net share settlement of the Notes shall be changed into the same or a different number of shares of any class or classes of shares, whether by capital reorganization, reclassification, or otherwise (other than a subdivision
or combination of shares, share dividend or reorganization, reclassification, merger, consolidation or asset sale provided for elsewhere in this Section 4), then and in each such event the Holder of each Note (whether then outstanding or
thereafter issued) shall have the right thereafter on the Final Maturity Date to receive upon net share settlement of this Note (i) a cash amount equal to the Face Amount of the Note; and (ii) if the Conversion Amount is greater than the
Face Amount of this Note, cash, the kind of securities, and other assets or property received by holders of Ordinary Shares in such reorganization, reclassification or other change having a value equal to the Excess Amount, all subject to further
adjustment as provided herein or with respect to such other securities or property by the terms thereof. 
 (f)
Reorganizations, Mergers, Consolidations or Asset Sales. If at any time after the Issue Date there is a tender offer, exchange offer, merger, consolidation, recapitalization, sale of all or substantially all of the Company’s assets or
reorganization involving the Ordinary Shares (collectively, a “Capital Reorganization”) (other than a merger, consolidation, sale of assets, recapitalization, subdivision, combination, reclassification, exchange or
substitution of shares provided for elsewhere in this Section 4), as part of such Capital Reorganization, provision shall be made so that the Holders of Notes will thereafter be entitled to receive on the Final Maturity Date (i) a cash
amount equal to the Face Amount of the Note; and (ii) if the Conversion Amount is greater than the Face Amount of this Note, cash, the kind of securities, and other assets or property received by holders of Ordinary Shares in such Capital
Reorganization having a value equal to the Excess Amount, subject to adjustment in respect to such shares or securities by the terms thereof. In any such case, appropriate adjustment will be made in the application of the provisions of
Section 2(b) and this Section 4 with respect to the rights of the Holders of Notes after the Capital Reorganization to the end that the provisions of this Section 4 (including adjustment of the Conversion Price then in effect and the
number of shares issuable upon net share settlement of the Notes) and the provisions of the Agreement (including without limitation Section 8 of the Agreement) will be applicable after that event and be as nearly equivalent as practicable. In
the event that the Company is not the surviving entity of any such Capital Reorganization, each Note 

  

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shall become Notes of such surviving entity, with the same powers, rights and preferences as provided herein. 
 (g) No Impairment. The Company will not, by amendment of its Articles of Association or through any reorganization, transfer of
assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be observed or performed hereunder by the Company, but will at all
times in good faith assist in the carrying out of all the provisions of Section 2(b) and this Section 4 and in the taking of all such action as may be necessary or appropriate in order to protect the net share settlement rights of the
Holders of the Notes against impairment to the extent required hereunder. 
 (h) Certificate as to Adjustments or
Distributions. Upon the occurrence of each adjustment of the Conversion Price or distribution to holders pursuant to this Section 4, the Company at its expense shall promptly compute such adjustment or distribution in accordance with the
terms hereof and furnish to each Holder, if any, of Notes outstanding a certificate setting forth the terms of such adjustment or distribution and showing in detail the facts upon which such adjustment or distribution are based and shall file a copy
of such certificate with its corporate records. 
 (i) Notice of Record Date. In the event: 
 (i) that the Company declares a dividend (or any other distribution) on its Ordinary Shares payable in Ordinary Shares, securities, or
other assets, rights or properties; 
 (ii) that the Company subdivides or combines its outstanding Ordinary Shares;

 (iii) of any reclassification of the Ordinary Shares of the Company (other than a subdivision or combination of its
outstanding Ordinary Shares or a share dividend or share distribution thereon); 
 (iv) of any Capital Reorganization; or

 (v) of the involuntary or voluntary dissolution, liquidation or winding up of the Company; 
 then the Company shall cause to be filed at its principal office, and shall cause to be mailed to the Holders of the Notes
at their last addresses as shown on the records of the Company, at least ten (10) days prior to the record date specified in (A) below 

  

 -14- 

 
or twenty (20) days prior to the date specified in (B) below, a notice stating 
 (A) the record date of such dividend, distribution, subdivision or combination, or, if a record is not to be taken, the date as of which
the holders of Ordinary Shares of record to be entitled to such dividend, distribution, subdivision or combination are to be determined, or 
 (B) the date on which such reclassification, Capital Reorganization, dissolution, liquidation or winding up is expected to become effective, and the date as of which it is expected that holders of Ordinary Shares of
record shall be entitled to exchange their Ordinary Shares for securities or other property deliverable upon such reclassification, Capital Reorganization, dissolution or winding up.” 
 8.10. Section 5(b) of the Note is hereby amended by adding the word “and” after clause (iii), deleting “; and” at the end of
clause (iv), placing a period at the end of clause (iv), and deleting clause (v) thereof. 
 8.11. Section 5(c) of the Note is
hereby amended by amending the last sentence thereof to read as follows: “Such written notice shall be irrevocable.” 
 8.12.
Section 8 of the Note is hereby amended by (i) deleting the words “or amend the conversion rights as set forth under Section 4 or 5, (ii) deleting clause (iv), and (iii) redesignating clauses (v), (vi), (vii) and
(viii) as clauses (iv), (v), (vi) and (vii). 
 8.13. Section 17 of the Note is hereby amended by substituting
“Bermuda” for “Hong Kong” in each place where the latter term appears. 
  

 -15- 

 8.14. Section 18 of the Note is hereby amended by providing that notices to the Company shall be
addressed as follows: 
 Flextronics International Ltd., 
 acting through its Bermuda branch 
 Canon’s Court 
 22 Victoria Street 
 Hamilton HM 12

 Bermuda 
 and 
 Flextronics International Ltd. 
 c/o
Flextronics International USA, Inc. 
 2090 Fortune Drive 
 San Jose, CA 95131 
 Attention: Chief Financial Officer 
 Facsimile: 408-428-0859 
 8.15.
Section 18 of the Note is hereby amended by substituting for the copied addressees the following: 
 Curtis, Mallet-Prevost,
Colt & Mosle LLP 
 101 Park Avenue 
 New York, New York 10178 
 Attention: Jeffrey N. Ostrager 
 Facsimile: 212-697-1559 
 Simpson
Thacher & Bartlett LLP 
 2550 Hanover Street 
 Palo Alto, CA 94304 
 Attention: Richard Capelouto 
 Facsimile: 650-251-5002 
 8.16.
Section 18 of the Note is hereby further amended by adding the following address under the applicable Silver Lake Investor: 
 2775 Sand
Hill Road, Suite 100 
 Menlo Park, CA 94025 
 Attention: General Counsel 
 Facsimile: (650) 233-8125 
 8.17. Exhibit 1 to the Note is hereby amended by deleting said Exhibit 1 in its entirety. 
 SECTION 9. Amendment to Exhibit B of the Note Purchase Agreement. Exhibit B of the Note Purchase Agreement is hereby deleted in its
entirety and shall be replaced by a new Exhibit B attached hereto as Schedule I. 
  

 -16- 

 SECTION 10. Miscellaneous. 
 10.1. Ratification. As amended hereby, the Note Purchase Agreement is in all respects ratified and confirmed and the Note Purchase Agreement as so
supplemented by this Amendment shall be read, taken and construed as one and the same instrument. 
 10.2. Representations and
Warranties. Each of the parties hereto represents and warrants that this Amendment has been duly authorized, executed and delivered by it and constitutes its legal, valid and binding obligations, enforceable in accordance with its terms, except
as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, fraudulent transfer, moratorium or other similar laws now or hereafter in effect affecting the enforcement of creditors’ rights in general and by
general principles of equity (regardless of whether such enforceability is considered in a proceeding at law or in equity). Each Silver Lake Investor represents and warrants that, as of the date of this Amendment, it owns the principal amount of
Notes set forth opposite its name on Exhibit A of the Agreement and does not maintain any Hedge position in the Notes or the Ordinary Shares. 
 10.3. Governing Law. This Amendment shall be governed by, and construed in accordance with, the laws of the State of New York. 
 10.4. Effectiveness. This Amendment shall be effective as of the date first above written. 
 10.5. Counterparts. This
Amendment may be executed in any number of counterparts (and by different parties on separate counterparts), each of which shall be an original, but all of which together shall constitute one and the same instrument. 
  

 -17- 

 10.6. Expenses. Each party shall bear its own expenses (including, without limitation, legal
expenses) incurred in connection with this Amendment. 
 IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to
Note Purchase Agreement to be duly executed by their respective authorized officers as of the day and year first above written. 
  

			
	 FLEXTRONICS INTERNATIONAL LTD.,
 acting
through its Bermuda branch

		
	By:	 	 /s/ Manny Marimuthu

	 Name:
	 	 Manny Marimuthu

	 Title:
	 	 Authorized Signatory

  

			
	SILVER LAKE PARTNERS CAYMAN, L.P.
		
	By	 	 Silver Lake Technology Associates Cayman, L.P., its General Partner

		
	By	 	 Silver Lake (Offshore) AIV GP Ltd., its General Partner

		
	By:	 	 /s/ Alan K. Austin

	 Name:
	 	 Alan K. Austin

	 Title:
	 	 Director

  

			
	SILVER LAKE INVESTORS CAYMAN, L.P.
		
	By	 	 Silver Lake Technology Associates Cayman, L.P., its General Partner

		
	By	 	 Silver Lake (Offshore) AIV GP Ltd., its General Partner

		
	By:	 	 /s/ Alan K. Austin

	 Name:
	 	 Alan K. Austin

	 Title:
	 	 Director

  

			
	 SILVER LAKE TECHNOLOGY INVESTORS CAYMAN, L.P.

		
	By	 	 Silver Lake (Offshore) AIV GP Ltd., its General Partner

		
	By:	 	 /s/ Alan K. Austin

	 Name:
	 	 Alan K. Austin

	 Title:
	 	 Director

  

 -18- 

 SCHEDULE I 
 EXHIBIT B 
 Form of Convertible Junior Subordinated Note 

 CONVERTIBLE JUNIOR SUBORDINATED NOTE 
  

			
	 U.S.$
	  	March ___, 2003

 THE SECURITIES REPRESENTED BY THIS NOTE AND THE SECURITIES ISSUABLE UPON ITS CONVERSION HAVE NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR SECURITIES LAWS OF ANY STATE AND MAY NOT BE OFFERED, SOLD, ASSIGNED, PLEDGED TRANSFERRED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS OR PURSUANT TO AN AVAILABLE EXEMPTION FROM REGISTRATION UNDER THE ACT OR SUCH LAWS AND, IF REQUESTED BY THE COMPANY, UPON DELIVERY OF AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE
COMPANY THAT THE PROPOSED TRANSFER IS EXEMPT FROM THE ACT OR SUCH LAWS. THIS NOTE IS ALSO SUBJECT TO THE TRANSFER RESTRICTIONS CONTAINED IN THE NOTE PURCHASE AGREEMENT, DATED AS OF MARCH 2, 2003, AS AMENDED BY THE FIRST AMENDMENT TO NOTE PURCHASE
AGREEMENT, DATED AS OF JULY 14, 2006, AMONG THE COMPANY AND THE PURCHASERS NAMED THEREIN.” 
 FOR VALUE RECEIVED, the
undersigned, Flextronics International Ltd., a Singapore company (the “Company”), acting through its branch office in Bermuda, promises to pay to
             (the “Investor”), in lawful money of the United States and in immediately available funds (and in Ordinary Shares, if any, as provided in
Section 2(b)), the principal amount of U.S.$             (the “Face Amount”), all in accordance with the provisions of this Note. The “Issue
Date” of this Note is March             , 2003. 
 This Note
was issued pursuant to the Note Purchase Agreement, dated as of March 2, 2003, as amended by the First Amendment to Note Purchase Agreement, dated as of July 14, 2006 (as amended from time to time, the “Agreement”),
among the Company and the other parties thereto. Unless the context otherwise requires, as used herein, “Note” means any of the Convertible Subordinated Notes issued pursuant to the Agreement and any other similar convertible
subordinated notes issued by the Company in exchange for, or to effect a transfer of, any Note and “Notes” means all such Notes in the aggregate. 
 1. Definitions. For purposes of this Note, the following definitions shall be applicable: 
 “Affiliate” of any specified person means any other person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified person; for purposes of this definition,
“control” (including, with correlative meanings, the terms “controlling,” “controlled by” and ‘under common control with”), as used with respect to any person, shall mean the possession, directly or
indirectly, of the power to direct or cause the direction of the management or policies of such person, whether through the ownership of voting securities, by agreement or otherwise. For 

 
purposes of this Note, Integral Capital Partners VI, L.P. shall not be considered an Affiliate of Silver Lake, Silver Lake Investors Cayman, L.P. or Silver
Lake Technology Investors Cayman, L.P. 
 “Articles of Association” means the Memorandum and Articles of Association
of the Company, as the same may be amended from time to time. 
 “Average Closing Price”, for any period, shall mean
the arithmetic mean average of the Closing Prices for each Trading Day in such period, calculated by dividing the sum of the Closing Prices for each Trading Day in the period by the number of Trading Days in the period. 
 “Bankruptcy Law” means Title 11, U.S. Code or any similar federal or state law for the relief of debtors. 
 “Board of Directors” means the board of directors of the Company. 
 “Capital Lease Obligation” means, at the time any determination thereof is to be made, the amount of the liability in respect of
a capital lease that would at such time be required to be capitalized on a balance sheet in accordance with GAAP. 
 “Cash
Equivalents” means (i) United States dollars, (ii) securities issued or directly and fully guaranteed or insured by the United States government or any agency or instrumentality thereof having maturities of not more than six
months from the date of acquisition, (iii) certificates of deposit and eurodollar time deposits with maturities of six months or less from the date of acquisition, bankers’ acceptances with maturities not exceeding six months and overnight
bank deposits, in each case with any lender party to the Credit Facility or with any domestic commercial bank having capital and surplus in excess of $500 million and a Keefe Bank Watch Rating of “B” or better, (iv) repurchase
obligations with a term of not more than seven days for underlying securities of the types described in clauses (ii) and (iii) above entered into with any financial institution meeting the qualifications specified in clause
(iii) above and (v) commercial paper having the highest rating obtainable from Moody’s Investors Service, Inc. or Standard & Poor’s Corporation and in each case maturing within six months after the date of acquisition.

 “Change of Control” shall mean the occurrence of any of the following: (i) the consolidation of the Company
with, or the merger of the Company with or into, another “person” (as such term is used in Rule 13d-3 and Rule 13d-5 of the Exchange Act), or the sale, lease, transfer, conveyance or other disposition, in one or a series of
related transactions, of all or substantially all of the assets of the Company and its subsidiaries taken as a whole, or the consolidation of another “person” with, or the merger of another “person” into, the Company, other than
in each case pursuant to a transaction in which the “persons” that “beneficially owned” (as such term is defined in Rule 13d-3 and Rule 13d-5 under the Exchange Act), directly or indirectly, the Voting Shares of the Company
immediately prior to the transaction “beneficially own”, directly or indirectly, Voting Shares representing at least a majority of the total voting power of all outstanding classes of voting stock of the surviving or transferee person;
(ii) the adoption by the Company of a plan relating to the liquidation or dissolution of the Company; (iii) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any
“person” becomes the “beneficial owner” directly or indirectly, of more than 50% of the Voting Shares of the Company (measured by voting power rather than number of shares); or (iv) the first day on which a majority of the
members of the Board of Directors does not consist of Continuing Directors. 
  

 -2- 

 “Closing Price” of the Ordinary Shares on any day means the last reported sale
price regular way on such day or, in the case no such sale takes place on such day, the average of the reported closing bid and asked prices regular way of the Ordinary Shares, in each case as quoted on the NASDAQ National Market or such other
principal securities exchange or inter-dealer quotation system on which the Ordinary Shares are then traded. 
 “Continuing
Director” shall mean, as of any date of determination, any member of the Board of Directors who (i) was a member of the Board of Directors on the Issue Date or was appointed pursuant to the Note Purchase Agreement or (ii) was
nominated for election or elected to the Board of Directors with the approval of a majority of the Continuing Directors who were members of the Board of Directors at the time of such nomination or election and who voted with respect to such
nomination or election; provided that a majority of the members of the Board of Directors voting with respect thereto shall at the time have been Continuing Directors. 
 “Credit Facility” means the Credit Agreement dated as of March 8, 2002, by and among the Company, certain agents and certain lending institutions party thereto, as amended, modified,
renewed, restated, refunded, replaced or refinanced from time to time. 
 “Daily Share Amount” means, with respect to
any Trading Day, a number of Ordinary Shares (but in no event less than zero) determined by the following formula: 
  

									
	 (Volume Weighted Average Price per
 Ordinary Share for such Trading Day
	  	x	  	 Face Amount of this Note divided by
 the Conversion Price in effect on such Trading Day)
	  	–	  	Face Amount of this Note
	Volume Weighted Average Price per Ordinary Share for such Trading Day x 20

 “Debt” shall mean, with respect to any person, any indebtedness of such
person, whether or not contingent, in respect of borrowed money or evidenced by bonds, notes, debentures or similar instruments or letters of credit (or reimbursement agreements in respect thereof) or banker’s acceptances or representing
Capital Lease Obligations or the balance deferred and unpaid of the purchase price of any property or representing any Hedging Obligations, except any such balance that constitutes an accrued expense or trade payable, if and to the extent any of the
foregoing indebtedness (other than letters of credit and Hedging Obligations) would appear as a liability upon a balance sheet of such Person prepared in accordance with GAAP, as well as all Debt of others secured by a Lien on any asset of such
Person (whether or not such Debt is assumed by such Person) and Lease Debt and, to the extent not otherwise included, the Guarantee by such Person of any Debt of any other Person. The amount of any Debt outstanding as of any date shall be
(i) the accreted value thereof, in the case of any Debt that does not require current payments of interest or (ii) the principal amount thereof, together with any interest thereon that is more than 30 days past due, in the case of any
other Debt. 
 “Default” means any event that is or with the passage of time or the giving of notice or both would be
an Event of Default. 
 “Designated Senior Debt” means (i) any Debt under the Credit Facility (and any
guarantees thereof) and (ii) any other Senior Debt otherwise designated by the Company (which designation shall have been approved in writing by the Representative under the Credit Facility), and such approval shall have been delivered to the
Holders, so long as (A) the Credit Facility is in effect and (B) the Company shall not then be a party to a credit facility or similar arrangement (other than the Credit Facility) that provides for loans in an aggregate principal amount
that is greater than the aggregate principal amount of loans to the Company that may be made under the Credit Facility and that are not entered into in 

  

 -3- 

 
violation of the Credit Facility), and the Representative thereunder, as “Designated Senior Debt” and, in the case of the designation by the
Company, certified in an Officers’ Certificate delivered to the Holders; provided that not less than $5.0 million aggregate principal amount is outstanding under Designated Senior Debt at the date of the designation and at the date of
determination; provided, further, that Designated Senior Debt shall never consist of Lease Debt. 
 “Equity
Interests” means capital shares of the Company and all warrants, options or other rights to acquire capital shares (but excluding any debt security that is convertible into, or exchangeable for, such capital shares). 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 “GAAP” means generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting Principles
Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as have been approved by a significant segment of the
accounting profession in the United States, which are in effect. 
 “Guarantee” means a guarantee (other than by
endorsement of negotiable instruments for collection in the ordinary course of business), direct or indirect, in any manner (including, without limitation, letters of credit and reimbursement agreements in respect thereof), of all or any part of any
Debt. 
 “Hedging Obligations” means, with respect to any person, the obligations of such person under
(i) currency exchange or interest rate swap agreements, interest rate cap agreements and interest rate collar agreements and (ii) other agreements or arrangements designed to protect such person against fluctuations in interest rates or
currency exchange rates. 
 “Holder” means the Person in whose name this Note is registered in the Company’s
Note Register and “Holders” means, collectively, the Persons in whose names all the Notes are registered in the Company’s Note Register. 
 “Indenture” shall mean, collectively, the indentures relating to the Company’s 8 3/4 % Senior Subordinated Notes due 2007, 9 7/8% Senior Subordinated Notes due 2010 and its 9 3/4%
Senior Subordinated Notes due 2010, as in effect on the date hereof, as each may be amended, modified, renewed, restated, refunded, replaced or refinanced from time to time. 
 “Lease Debt” means, with respect to any Person, (i) the amount of any accrued and unpaid obligations of such Person arising
under any lease or related document (including a purchase agreement, conditional sale or other title retention agreement) in connection with the lease of real property or improvement thereon (or any personal property included as part of any such
lease) which provides that such Person is contractually obligated to purchase or cause a third party to purchase the leased property or pay an agreed upon residual value of the leased property to the lessor (whether or not such lease transaction is
characterized as an operating lease or a capitalized lease in accordance with GAAP) and (ii) the guarantee, direct or indirect, in any manner (including, without limitation, letters of credit and reimbursement agreements in respect thereof), of
any of the amounts set forth in (i) above. 
 “Lien” means, with respect to any asset, any mortgage, lien,
pledge, charge, security interest or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise perfected 

  

 -4- 

 
under applicable law (including any conditional sale or other title retention agreement, any lease in the nature thereof, any option or other agreement to
sell or give a security interest in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction). 
 “Obligations” means any principal, interest, penalties, fees, indemnifications, reimbursements, damages and other liabilities
payable under the documentation governing any Debt. 
 “Officer” means the Chief Executive Officer, any president,
the Chief Financial Officer and any vice president of the Company. 
 “Officers’ Certificate” means a
certificate signed by two Officers. 
 “Permitted Junior Securities” means Equity Interests in the Company or debt
securities that are subordinated to all Senior Debt (and any debt securities issued in exchange for Senior Debt) to substantially the same extent as, or to a greater extent than, the Notes are subordinated to Senior Debt pursuant to this Note.

 “Person” means any individual, corporation, limited liability company, partnership, joint venture, association,
joint-stock company, trust, unincorporated organization or government or any agency or political subdivision thereof. 
 “Restricted Subsidiaries” shall have the meaning contained in the Indenture. 
 “Securities
Act” means the Securities Act of 1933, as amended. 
 “Senior Debt” means (i) all Debt of the
Company outstanding under Credit Facilities and all Hedging Obligations with respect thereto, (ii) all Debt of the Company outstanding under the Indentures, including the Company’s 8 3/4 % Senior Subordinated Notes due 2007, its 9
7/8% Senior Subordinated Notes due 2010 and its 9 3/4% Senior Subordinated Notes due 2010, (iii) any other Debt incurred by the Company, unless the instrument under which such Debt is incurred expressly provides that it is on a parity with or
subordinated in right of payment to the Notes, (iv) all Obligations with respect to the foregoing and (v) Lease Debt; notwithstanding anything to the contrary in the foregoing, Senior Debt will not include (w) any liability for
federal, state, local or other taxes owed or owing by the Company, (x) any Debt of the Company to any of its Restricted Subsidiaries or other Affiliates or (y) any trade payables. 
 “Significant Subsidiary” means any Restricted Subsidiary that would be a “significant subsidiary” as defined in Article
1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act, as such Regulation is in effect on the date hereof. 
 “Subject Country” shall mean any jurisdiction other than the country of Singapore and the United States of America, or any state thereof or the District of Columbia. 
 “Trading Day” means, with respect to the Ordinary Shares, each Monday, Tuesday, Wednesday, Thursday and Friday, other than any
day on which securities are not generally traded on the NASDAQ National Market or such other principal securities exchange or inter-dealer quotation system on which the Ordinary Shares is then traded. 
  

 -5- 

 “Volume Weighted Average Price” on any Trading Day means the price per share of
the Ordinary Shares as displayed on Bloomberg (or any successor service) page FLEX<equity>VAP in respect of the period from 9:30 a.m. to 4:00 p.m. (New York City time), on such Trading Day (or any such period commencing at the official opening
of trading and ending at the official close of trading on the principal trading market); or, if such price is not available, the Closing Price; or if such price is not available the market value per share of the Ordinary Shares on such day as
determined by a nationally recognized independent investment banking firm retained for this purpose by the Company. 
 “Voting
Shares” of any person means capital shares or capital stock of such Person which ordinarily has voting power for the election of directors (or persons performing similar functions) of such person, whether at all times or only so long as
no senior class of securities has such voting power by reason of any contingency. 
 2. Payment of Principal of Note. 
 (a) No Interest. No interest shall accrue or shall be payable on this Note at any time. 
 (b) Net Share Settlement. 
 (i) Unless this Note is paid, converted, settled or redeemed earlier pursuant to the terms of this Note, on July 31, 2009 (the “Final Maturity Date”), the Company shall make net share settlement
of this Note to the Holder as follows: (i) the Company shall pay the Face Amount of this Note in cash; and (ii) if the Conversion Amount (as hereinafter defined) is greater than the Face Amount of this Note, the Company shall deliver to
the Holder a number of ordinary shares, no par value, of the Company (the “Ordinary Shares”) equal to the sum of the Daily Share Amounts for each of the twenty (20) consecutive Trading Days immediately preceding the Final
Maturity Date (such number of shares is hereafter referred to as the “Excess Amount”). “Conversion Amount” means the amount equal to the average of the products for each of the twenty (20) consecutive Trading Days
immediately preceding the Final Maturity Date of (A) the Face Amount of this Note divided by the then effective Conversion Price, and (B) the Volume Weighted Average Price per share of the Ordinary Shares on such Trading Day. For purposes
of this Section 2(b), the “Conversion Price” initially shall be $10.50, which shall be subject to adjustment as provided in Section 4. The Holder must surrender this Note to the Company in order to receive settlement hereunder.
Except as provided in this Section 2(b) and subject to Sections 5 and 6, the Holder may not convert, settle or redeem this Note. In the event that the Holder is required to make filings under the Hart-Scott-Rodino Antitrust Improvements
Act of 1976, as amended, in accordance with Section 5.2 of the Agreement, and for any related waiting periods to have expired or be terminated early (collectively, the “HSR Approval”), in order to acquire Ordinary Shares upon
net share settlement under this Section 2(b), and if such HSR Approval shall not have been obtained, then the Company shall not deliver any such shares until the HSR Approval shall have been obtained; provided that the number of Ordinary Shares
to be delivered, if any, shall nevertheless be determined as provided above. For the avoidance of doubt, the number of Ordinary Shares deliverable pursuant to this Section 2(b)(i) may not be less than zero and in no event will the Holder
receive less than the Face Amount of this Note in cash on the Final Maturity Date. 
  

 -6- 

 (ii) The Holder of this Note shall be deemed for U.S. law purposes to beneficially own
any Ordinary Shares deliverable pursuant to clause (i) above as of the Final Maturity Date (subject to HSR Approval). Not later than two Trading Days following the Final Maturity Date (and subject to HSR Approval), the Company shall promptly
issue and deliver to each Holder a certificate or certificates for the number of Ordinary Shares to which such Holder is entitled. In lieu of delivering physical certificates representing any Ordinary Shares deliverable upon net share settlement of
Notes, provided the Company’s transfer agent is participating in the Depository Trust Company (“DTC”) Fast Automated Securities Transfer program, upon request of the Holder, the Company may, at its election (and shall,
upon the reasonable request of any Holder), cause its transfer agent to electronically transmit the Ordinary Shares deliverable upon net share settlement of this Note to the Holder, by crediting the account of Holder’s prime broker with DTC
through its Deposit Withdrawal Agent Commission (“DWAC”) system, if such DWAC system is available for the issuance of such Ordinary Shares under the terms of this Note and the Note Purchase Agreement. The time periods for
delivery described above shall apply to the electronic transmittals through the DWAC system. The parties agree to coordinate with DTC to accomplish this objective. 
 (iii) The Company shall at all times during which the Notes shall be outstanding, have and keep available out of its authorized but
unissued shares, for the purpose of effecting the net share settlement of the Notes, such number of its duly authorized Ordinary Shares as shall from time to time be sufficient to effect the net share settlement of all outstanding Notes. 

(iv) No fractional Ordinary Shares shall be issued upon any net share settlement of the Notes pursuant to Section 2(b). In lieu of
fractional shares, the Company shall pay cash equal to such fraction multiplied by the Closing Price per Ordinary Share on the Trading Day immediately preceding the Final Maturity Date. 
 (v) If, pursuant to Section 4(e) or 4(f), this Note is subject to net share settlement for any Excess Amount in cash, other
securities, or assets or property in lieu of Ordinary Shares, then for purposes of determining the Excess Amount upon net share settlement, (A) the Conversion Amount shall mean the amount equal to the average of the products for each of the
twenty (20) consecutive Trading Days immediately preceding the Final Maturity Date of (I) the Face Amount of this Note divided by the then effective Conversion Price, and (II) the Volume Weighted Average Price on such Trading Day of the
amount of such cash, other securities, assets or property into which or for which one Ordinary Share was converted or exchanged in connection with the transaction or event under Section 4(e) or 4(f), and (B) the Daily Share Amounts shall
be based on the amount of such cash, other securities, assets or property into which or for which one Ordinary Share was converted or exchanged in connection with the transaction or event under Section 4(e) or 4(f); provided further that for
purposes of determining the Conversion Amount and the Daily Share Amounts, the Volume Weighted Average Price of any security other than Ordinary Shares shall be determined in the same manner as for the Ordinary Shares, the Volume Weighted Average
Price of cash will be the amount of such cash, and the Volume Weighted Average Price of any property, assets or securities which are not listed on a United States national or regional securities exchange or reported on Nasdaq shall be determined by
a nationally 

  

 -7- 

 
recognized investment banking firm mutually selected by the Company and the Holders of a majority of the outstanding principal amount of the Notes. The
amount and kind of any cash, other securities, assets or property to be delivered for any Excess Amount shall, to the maximum extent practicable, be in the same proportion as delivered in exchange or conversion for Ordinary Shares in connection with
the transaction or event under Section 4(e) or 4(f). The provisions of clauses (i) through (iv) above shall apply to any net share settlement under this clause (v) with such modifications as are necessary to take into account the
substitution of any such cash, other securities, assets or property for Ordinary Shares. 
 (vi) In the event of a Fundamental
Change, the Holder shall have the right to net share settle (to receive cash in the Face Amount of this Note and any Excess Amount in the consideration hereinafter described) all but not less than all of this Note effective upon the Fundamental
Change. In the event of such net share settlement, this Note shall be subject to net share settlement for any Excess Amount in the same cash, kind of securities, and other assets or property receivable by holders of Ordinary Shares in the
transaction constituting the Fundamental Change. For purposes of determining the Excess Amount upon net share settlement, the Conversion Amount shall mean the product of (A) the Face Amount of this Note divided by the then effective Conversion
Price, and (B) the Closing Price on the effective date of the Fundamental Change of the amount of such cash, other securities, assets or property into which or for which one Ordinary Share is to be converted or exchanged in connection with the
Fundamental Change; provided further that for purposes of determining the Conversion Amount, the Closing Price of any security other than Ordinary Shares shall be determined in the same manner as for the Ordinary Shares, the Closing Price of cash
will be the amount of such cash, and the Closing Price of any property, assets or securities which are not listed on a United States national or regional securities exchange or reported on Nasdaq shall be determined by a nationally recognized
investment banking firm mutually selected by the Company and the Holders of a majority of the outstanding principal amount of the Notes. The amount and kind of any cash, other securities, assets or property to be delivered for any Excess Amount
shall, to the maximum extent practicable, be in the same proportion as delivered in exchange or conversion for Ordinary Shares in connection with the Fundamental Change. The provisions of clauses (i) through (iv) above shall apply to any
net share settlement under this clause (vi) with such modifications as are necessary to take into account the substitution of any such cash, other securities, assets or property for Ordinary Shares and otherwise to take into account the net
share settlement upon the Fundamental Change (including calculating the Excess Amount by reference to the Closing Price on the effective date of the Fundamental Change). In order to exercise any right to net share settle under this clause (vi), the
Holder shall deliver written notice of its election to net share settle, which may be delivered at any time from the time that the Holder receives notice of the Fundamental Change pursuant to Section 4(i) until the close of business on the
effective date of the Fundamental Change, provided that any such notice shall automatically be deemed withdrawn and of no effect if the Fundamental Change does not close. For purposes of this clause (vi), “Fundamental Change” shall mean
the consolidation of the Company with, or the merger of the Company with or into another person (other than a subsidiary of the Company), or the sale, lease, transfer, conveyance, or other disposition, in one or a series of related transactions, of
all or substantially all of the assets of the Company and its subsidiaries taken as a whole, or the consolidation of 

  

 -8- 

 
another person (other than a subsidiary of the Company) with, or the merger of another person (other than a subsidiary of the Company) into, the Company, in
each case in a transaction in which the outstanding Voting Shares of the Company are reclassified into, exchanged for or converted into the right to receive any other property or security, other than in each case pursuant to a transaction in which
the persons that beneficially owned, directly or indirectly, the Voting Shares of the Company immediately prior to the transaction beneficially own, directly or indirectly, Voting Shares representing at least a majority of the total voting power of
all outstanding classes of voting stock of the surviving or transferee person. Notwithstanding the foregoing, it will not constitute a Fundamental Change if at least 90% of the consideration for the Voting Shares (excluding cash payments for
fractional shares and cash payments made in respect of dissenter’s appraisal rights) in the transaction or transactions constituting the Fundamental Change consists of common stock or similar securities traded on a United States national
securities exchange or quoted on The Nasdaq Capital Market, or which will be so traded or quoted when issued or exchanged in connection with the Fundamental Change.” 
 (c) Pro Rata Payment. The Company agrees that any payments to the Holders of the Notes (including, without limitation, upon
acceleration pursuant to Section 6) shall be made pro rata among all such Holders based upon the aggregate unpaid principal amount of the Notes held by each such Holder. If any Holder of a Note obtains any payment (whether voluntary,
involuntary, by application of offset or otherwise) on such Note in excess of such Holder’s pro rata share of payments obtained by all Holders of the Notes, such Holder shall make payments to the other Holders of the Notes based on such
participation in the Notes held by them as is necessary to cause such Holders to share the excess payment ratably among each of them as provided in this Section 2(c). 
 (d) Payment of Additional Amounts. 
 (i) All sums payable by the Company to the Holders of the Notes (whether pursuant to this Section 2, Section 5 or otherwise) shall be paid free of any restriction or condition; free and clear of and without
any deduction or withholding on account of any tax, levy or any other charges whatsoever; and without deduction or withholding on account of any other amount, whether by way of set-off, counterclaim or otherwise. 
 (ii) If the Company or any other person on behalf of the Company is required to make any payment, deduction or withholding on account of
any such tax, levy, charges or other amount from any sum paid or payable by the Company to, or any sum received or receivable by, the Holders of the Notes, the Company shall pay such additional amounts as is necessary to ensure that, after the
making of that deduction, withholding or payment, the Holders of the Notes receives on the due date and retains a net sum after any such deduction, withholding or payment equal to the respective amounts that the Holders of the Notes would have
received and so retained had no such deduction, withholding or payment been required or made. 
 (iii) If the Company or any
other person on behalf of the Company is required to pay any tax or other amount on, or calculated by reference to, any sum received or receivable by the Holders of the Notes, the Company shall pay or procure the payment of that tax or other amount
before any interest or penalty becomes payable 

  

 -9- 

 
or, if that tax or other amount is payable and paid by the Holders of the Notes, shall reimburse the Holders of the Notes on demand for the amount paid by
it. 
 (iv) Within fourteen (14) days after paying any sum from which it is required by law to make any deduction or
withholding, and within fourteen (14) days after the due date of payment of any tax, levy, charges or the amount which it is required to pay, the Company shall deliver to the Holders of the Notes evidence reasonably satisfactory to the Holders
of the Notes of such deduction, withholding or payment and of the remittance thereof to the relevant taxing or other authority. 
 (v) If additional amounts become payable under Sections 2(d)(ii) or 2(d)(iii), the Company and the Holder of the Note shall use reasonable efforts to amend the Note if such amendment would (i) not subject such Holder to any
unreimbursed cost or expense, (ii) in the reasonable judgment of the Company, would eliminate or reduce amounts payable pursuant to Sections 2(d)(ii) or 2(d)(iii), as the case may be, in the future and (iii) in the reasonable judgment
of the Holder, would not otherwise be disadvantageous to such Holder. The Company agrees to pay all costs and expenses incurred by any Holder of the Note in connection with any such amendment. 
 3. [Intentionally Omitted] 
 4. Adjustments to Conversion Price. The Conversion Price shall be subject to the following adjustments: 
 (a) Adjustment for Share Splits and Combinations. If the Company shall at any time or from time to time after the Issue Date effect a subdivision of the outstanding Ordinary Shares, the Conversion Price then in effect
immediately before that subdivision shall be proportionately decreased. If the Company shall at any time or from time to time after the Issue Date combine the outstanding Ordinary Shares, the Conversion Price then in effect immediately before the
combination shall be proportionately increased. Any adjustment under this paragraph shall become effective at the close of business on the date the subdivision or combination becomes effective (and, for purposes of calculating the Conversion Amount
and the Daily Share Amount, corresponding adjustments shall be made to the calculation of the Volume Weighted Average Price, if appropriate). 
 (b) Adjustment for Certain Dividends and Distributions. In the event the Company at any time or from time to time after the Issue Date shall make or issue a dividend or other distribution payable in
additional Ordinary Shares, then and in each such event the Conversion Price shall be decreased as of the time of such issuance, by multiplying such Conversion Price by a fraction, the numerator of which shall be the total number of Ordinary Shares
outstanding immediately prior to such issuance and the denominator of which shall be the total number of Ordinary Shares outstanding immediately prior to such issuance plus the number of such additional Ordinary Shares issuable in payment of such
dividend or distribution (and, for purposes of calculating the Conversion Amount and the Daily Share Amount, corresponding adjustments shall be made to the calculation of the Volume Weighted Average Price, if appropriate). 
 (c) Adjustment for Other Dividends and Distributions. 
 (i) In the event the Company at any time, or from time to time after the Issue Date, shall declare or otherwise make or issue a dividend
or other distribution payable in securities (including, without limitation, debt securities) of the Company 

  

 -10- 

 
(other than Ordinary Shares) or other assets, rights, warrants or properties (including, without limitation, cash dividends and distributions), then, in each
such event, immediately prior to the opening of business on the Trading Day following the record date for the determination of stockholders entitled to receive such dividend or other distribution (the “Record Date”), the Conversion Price
shall be reduced so that the Conversion Price shall thereafter equal the price determined by multiplying the Conversion Price in effect immediately prior to the close of business on the Record Date by a fraction, the numerator of which shall be the
average of the Volume Weighted Average Prices for the Ordinary Shares for the period consisting of the ten (10) Trading Days immediately preceding (but not including) the Record Date (such price, the “Current Market
Price”) less the amount of cash and the fair market value (which value shall be determined in good faith by the Board of Directors, subject to 4(c)(iii) below) on the Record Date of any such securities, assets, rights, warrants or
properties so distributed applicable to one Ordinary Share (determined on the basis of the number of Ordinary Shares outstanding on the Record Date) and the denominator of which shall be the Current Market Price (and, for purposes of calculating the
Conversion Amount and the Daily Share Amount, corresponding adjustments shall be made to the calculation of the Volume Weighted Average Price, if appropriate). In the event that such dividend or distribution is cancelled without having been so paid
or made, the Conversion Price shall again be adjusted to be the Conversion Price which would then be in effect if such dividend or distribution had not been declared. 
 (ii) In the event the cash value or the fair market value of the non-cash portion attributable to one Ordinary Share of any securities,
assets, rights, warrants or properties so distributed in (i) above is equal to or greater than the Current Market Price, then, in lieu of the foregoing adjustment to the Conversion Price, adequate provision shall be made so that each Holder of
Notes shall have the right to receive on the Final Maturity Date (i) a cash amount equal to the Face Amount of the Note; and (ii) if the Conversion Amount is greater than the Face Amount of this Note, an amount of such securities, assets,
rights, warrants and properties having a value equal to the Excess Amount; provided that for purposes of this clause (c)(ii), the provisions of Section 2(b)(v) shall apply mutatis mutandis, with appropriate modifications to reflect that
net share settlement for any Excess Amount shall be made in Ordinary Shares, as well as such securities, assets, rights, warrants and properties received by holders of Ordinary Shares in such dividend or distribution, and the calculation of the
Excess Amount, if any, shall reflect the Volume Weighted Average Price (computed on an ex-distribution basis) of the Ordinary Shares, as well as such securities, assets, rights, warrants and properties. 
 (iii) If the Board of Directors determines the fair market value of any dividend or distribution for purposes of this Section 4(c) by
reference to the actual or when issued trading market for any securities, it must in doing so consider the prices in such market over the same period used in computing the Current Market Price of the Ordinary Shares. 
  

 -11- 

 (iv) Rights or warrants distributed by the Company to all holders of Ordinary Shares
entitling the holders thereof to subscribe for or purchase shares of the Company’s capital stock (either initially or under certain circumstances), which rights or warrants, until the occurrence of a specified event or events (the
“Trigger Event”): 
 (i) are deemed to be transferred with such Ordinary Shares; (ii) are not exercisable; and
(iii) are also issued in respect of future issuances of Ordinary Shares, shall be deemed not to have been distributed for purposes of this Section 4(c) (and no adjustment to the Conversion Price under this Section 4(c) will be
required) until the occurrence of the earliest Trigger Event, whereupon such rights and warrants shall be deemed to have been distributed and an appropriate adjustment (if any is required) to the Conversion Price shall be made under this
Section 4(c). If any such right or warrants are subject to events, upon the occurrence of which such rights or warrants become exercisable to purchase different securities, evidences of indebtedness or other assets, then the date of the
occurrence of any and each such event shall be deemed to be the date of distribution with respect to new rights or warrants with such rights (and a termination or expiration of the existing rights or warrants without exercise by any of the holders
thereof). In addition, in the event of any distribution (or deemed distribution) of rights or warrants, or any Trigger Event or other event (of the type described in the preceding sentence) with respect thereto that was counted for purposes of
calculating a distribution amount for which an adjustment to the Conversion Price under this Section 4(c) was made, (1) in the case of any such rights or warrants which shall all have been redeemed or repurchased without exercise by any
holders thereof, the Conversion Price shall be readjusted upon such final redemption or repurchase to give effect to such distribution or Trigger Event, as the case may be, as though it were a cash distribution, equal to the per share redemption or
repurchase price received by a holder or holders of Ordinary Shares with respect to such rights or warrants (assuming such holder had retained such rights or warrants), made to all holders of Ordinary Shares as of the date of such redemption or
repurchase, and (2) in the case of such rights or warrants which shall have expired or been terminated without exercise by any holders thereof, the Conversion Price shall be readjusted as if such rights and warrants had not been issued.

 (d) Adjustments for Certain Tender Offers. In case any tender offer made by the Company or any of its subsidiaries
for Ordinary Shares shall expire, then, immediately prior to the opening of business on the day after the expiration of the tender offer (the “Expiration Date”), the Conversion Price shall be reduced so that the Conversion
Price shall thereafter equal the price determined by multiplying the Conversion Price in effect immediately prior to the close of business on the Expiration Date by a fraction, the numerator of which shall be the product of the number of Ordinary
Shares outstanding (including Ordinary Shares tendered in the tender offer) on the Expiration Date multiplied by the Closing Price on the Trading Day next succeeding the Expiration Date and the denominator shall be the sum of (i) the aggregate
consideration (determined as the sum of the aggregate amount of cash consideration and the aggregate fair market value of any other consideration, which value shall be determined in good faith by the Board of Directors) payable to the holders of
Ordinary Shares based on the acceptance of all shares validly tendered and not withdrawn as of the close of business on the Expiration Date (such shares, the “Purchased Shares”) and (ii) the product of (A) the
number of Ordinary Shares outstanding (less any Purchased Shares) at the close of business on the Expiration Date and (B) the Closing Price on the Trading Day next succeeding the Expiration Date. Such adjustment shall become effective
immediately prior to the opening of business on the Trading Day immediately following the Expiration Date. If the application of this Section 4(d) to any tender offer would result in an increase in the Conversion Price, then no adjustment shall
be made pursuant to this Section 4(d). 
 (e) Adjustment for Reclassification, Exchange or Substitution. If the
Ordinary Shares issuable upon the net share settlement of the Notes shall be changed into the same or a different 

  

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number of shares of any class or classes of shares, whether by capital reorganization, reclassification, or otherwise (other than a subdivision or
combination of shares, share dividend or reorganization, reclassification, merger, consolidation or asset sale provided for elsewhere in this Section 4), then and in each such event the Holder of each Note (whether then outstanding or
thereafter issued) shall have the right thereafter on the Final Maturity Date to receive upon net share settlement of this Note (i) a cash amount equal to the Face Amount of the Note; and (ii) if the Conversion Amount is greater than the
Face Amount of this Note, cash, the kind of securities, and other assets or property received by holders of Ordinary Shares in such reorganization, reclassification or other change having a value equal to the Excess Amount, all subject to further
adjustment as provided herein or with respect to such other securities or property by the terms thereof. 
 (f)
Reorganizations, Mergers, Consolidations or Asset Sales. If at any time after the Issue Date there is a tender offer, exchange offer, merger, consolidation, recapitalization, sale of all or substantially all of the Company’s assets or
reorganization involving the Ordinary Shares (collectively, a “Capital Reorganization”) (other than a merger, consolidation, sale of assets, recapitalization, subdivision, combination, reclassification, exchange or
substitution of shares provided for elsewhere in this Section 4), as part of such Capital Reorganization, provision shall be made so that the Holders of Notes will thereafter be entitled to receive on the Final Maturity Date (i) a cash
amount equal to the Face Amount of the Note; and (ii) if the Conversion Amount is greater than the Face Amount of this Note, cash, the kind of securities, and other assets or property received by holders of Ordinary Shares in such Capital
Reorganization having a value equal to the Excess Amount, subject to adjustment in respect to such shares or securities by the terms thereof. In any such case, appropriate adjustment will be made in the application of the provisions of
Section 2(b) and this Section 4 with respect to the rights of the Holders of Notes after the Capital Reorganization to the end that the provisions of this Section 4 (including adjustment of the Conversion Price then in effect and the
number of shares issuable upon net share settlement of the Notes) and the provisions of the Agreement (including without limitation Section 8 of the Agreement) will be applicable after that event and be as nearly equivalent as practicable. In
the event that the Company is not the surviving entity of any such Capital Reorganization, each Note shall become Notes of such surviving entity, with the same powers, rights and preferences as provided herein. 
 (g) No Impairment. The Company will not, by amendment of its Articles of Association or through any reorganization, transfer of
assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be observed or performed hereunder by the Company, but will at all
times in good faith assist in the carrying out of all the provisions of Section 2(b) and this Section 4 and in the taking of all such action as may be necessary or appropriate in order to protect the net share settlement rights of the
Holders of the Notes against impairment to the extent required hereunder. 
 (h) Certificate as to Adjustments or
Distributions. Upon the occurrence of each adjustment of the Conversion Price or distribution to holders pursuant to this Section 4, the Company at its expense shall promptly compute such adjustment or distribution in accordance with the
terms hereof and furnish to each Holder, if any, of Notes outstanding a certificate setting forth the terms of such adjustment or distribution and showing in detail the facts upon which such adjustment or distribution are based and shall file a copy
of such certificate with its corporate records. 
  

 -13- 

 (i) Notice of Record Date. In the event: 
 (i) that the Company declares a dividend (or any other distribution) on its Ordinary Shares payable in Ordinary Shares, securities, or
other assets, rights or properties; 
 (ii) that the Company subdivides or combines its outstanding Ordinary Shares;

 (iii) of any reclassification of the Ordinary Shares of the Company (other than a subdivision or combination of its
outstanding Ordinary Shares or a share dividend or share distribution thereon); 
 (iv) of any Capital Reorganization; or

 (v) of the involuntary or voluntary dissolution, liquidation or winding up of the Company; 
 then the Company shall cause to be filed at its principal office, and shall cause to be mailed to the Holders of the Notes at their last
addresses as shown on the records of the Company, at least ten (10) days prior to the record date specified in (A) below or twenty (20) days prior to the date specified in (B) below, a notice stating 
 (A) the record date of such dividend, distribution, subdivision or combination, or, if a record is not to be taken, the date as of which
the holders of Ordinary Shares of record to be entitled to such dividend, distribution, subdivision or combination are to be determined, or 
 (B) the date on which such reclassification, Capital Reorganization, dissolution, liquidation or winding up is expected to become effective, and the date as of which it is expected that holders of Ordinary Shares of
record shall be entitled to exchange their Ordinary Shares for securities or other property deliverable upon such reclassification, Capital Reorganization, dissolution or winding up. 
 5. Repurchase Right Upon a Change of Control. 
 (a) Upon the occurrence of a Change of Control, each Holder of Notes will have the right to require the Company to repurchase all or any part of its Notes pursuant to an offer as provided in this Section 5 (the
“Change of Control Offer”) at an offer price in cash equal to 101% of the Face Amount of its Notes (the “Change of Control Payment”). 
 (b) On or before the 30th day after a Change of Control, the Company shall give to all Holders of Notes notice (the “Change of
Control Notice”) of the occurrence of the Change of Control and of the Holder’s right to receive the Change of Control Payment arising as a result thereof. Each notice of the Holder’s right to participate in the Change of
Control Offer (the “Change of Control Repurchase Right”) shall be mailed to the Holders of the Notes at their last address as shown in the Note Register and shall state: 
 (i) the date on which the Notes shall be repurchased (the “Change of Control Payment Date”), which date shall be no earlier than
30 days and no later than 60 days from the date of the Company’s delivery of the Change of Control Notice; 
  

 -14- 

 (ii) the date by which the Change of Control Repurchase Right must exercised, which date
shall be no earlier than the close of business on the Trading Day immediately prior to the Change of Control Payment Date; 
 (iii) the amount of the Change of Control Payment; and 
 (iv) a description of the procedure which a Holder must
follow to exercise the Change of Control Repurchase Right, and the place or places where the Notes are to be surrendered for payment of the Change of Control Payment. 
 No failure by the Company to give the Change of Control Notice and no defect in any Change of Control Notice shall limit any Holder’s right to exercise its Change of Control Repurchase Right or affect the
validity of the proceedings for the repurchase of Notes. 
 If any of the foregoing provisions or other provisions of this Section 5 are
inconsistent with applicable law, such law shall govern. 
 (c) To exercise the Change of Control Repurchase Right, a Holder
shall deliver to the Company, on or before the Trading Day immediately prior to the Change of Control Repurchase Date, (i) written notice of the Holder’s exercise of such right, which notice shall set forth the name of the Holder, the Face
Amount of Notes held by such Holder to be repurchased, and a statement that an election to exercise the Change of Control Repurchase Right is being made thereby, and (ii) the Notes with respect to which the Change of Control Repurchase Right is
being exercised. Such written notice shall be irrevocable. 
 (d) On the Change of Control Payment Date, the Company will, to
the extent lawful, (i) accept for payment all Notes or portions thereof properly tendered pursuant to the Change of Control Offer and (ii) deliver cash in the amount of the Change of Control Payment to each Holder in respect of all Notes
or portions thereof so tendered. All Notes repurchased by the Company shall be canceled immediately by the Company. 
 (e)
Prior to complying with the provisions of this Section 5, but in any event within ninety (90) days following a Change of Control, the Company will either repay in full in cash all outstanding Senior Debt or obtain the requisite consents,
if any, under all agreements governing outstanding Senior Debt to permit the repurchase of Notes required by this Section 5. The Company shall publicly announce the results of the Change of Control Offer on or as soon as practicable after the
Change of Control Payment Date. 
 (f) The Company will comply with the requirements of Rule 14e-1 under the Exchange Act
and any other securities laws and regulations thereunder to the extent such laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control. 
 (g) Any Note which is to be repurchased only in part shall be surrendered to the Company and the Company shall execute and make available
for delivery to the Holder of such Note without service charge, a new Note or Notes, containing identical terms and conditions, each in an 

  

 -15- 

 
authorized denomination in aggregate principal amount equal to and in exchange for the unrepurchased portion of the principal of the Note so surrendered. Any
Notes surrendered to the Company pursuant to the provisions of this Section 5 shall be retired and canceled. 
 (h) The
Company will not be required to make a Change of Control Offer upon a Change of Control if a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Section 5
applicable to a Change of Control Offer made by the Company and purchases all Notes validly tendered and not withdrawn under such Change of Control Offer. 
 6. Events of Default. 
 (a) Definitions. For purposes of this Note, the following
events shall constitute an “Event of Default”: 
 (i) default in payment when due (whether at the Final Maturity
Date or upon an earlier redemption or repurchase) of the principal of, or premium, if any, on this Note (whether or not prohibited by the subordination provisions of this Note); 
 (ii) failure by the Company for 30 days after notice from the Holders of at least 50% in principal amount of the then outstanding Notes to
comply with the provisions of Section 5 or Section 7 of this Note; 
 (iii) failure by the Company for 60 days after
notice from the Holders of at least 50% in principal amount of the then outstanding Notes to comply with any of its other agreements in this Note or the Agreement; 
 (iv) default under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any
Debt for money borrowed by the Company or any of its Restricted Subsidiaries (or the payment of which is guaranteed by the Company or any of its Restricted Subsidiaries) whether such Debt or guarantee now exists, or is created after the date of the
Issue Date, which default (a) is caused by a failure to pay principal of or premium, if any, or interest on such Debt prior to the expiration of the grace period provided in such Debt on the date of such default (a “Payment Default”)
or (b) results in the acceleration of such Debt prior to its express maturity and, in each case in clause (a) or (b), the principal amount of any such Debt, together with the principal amount of any other such Debt that has not been paid
when due, or the maturity of which has been so accelerated, aggregates $40.0 million or more; 
 (v) failure by the Company or
any of its Restricted Subsidiaries to pay final judgments aggregating in excess of $40.0 million, which judgments are not paid, discharged or stayed for a period of 60 days; 
 (vi) the Company or any of its Significant Subsidiaries: 
 (A) commences a voluntary case under any Bankruptcy Law, 
 (B) consents to the entry of an order for relief against it in an involuntary case under any Bankruptcy Law, 
  

 -16- 

 (C) consents to the appointment of a custodian of it or for all or substantially all of
its property, 
 (D) makes a general assignment for the benefit of its creditors, or 
 (E) is unable to pay its debts as they become due; or 
 (vii) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 
 (A) is for relief against the Company or any of its Significant Subsidiaries, 
 (B) appoints a custodian of the Company or any of its Significant Subsidiaries or for all or substantially all of the property of the
Company or any of its Significant Subsidiaries, or 
 (C) orders the liquidation of the Company or any of its Significant
Subsidiaries; and the order or decree remains unstayed and in effect for 60 consecutive days. 
 (b) Notice of
Compliance. The Company shall be required to deliver to the Holders annually a statement regarding compliance with this Note, and the Company shall be required within 30 days of becoming aware of any Default or Event of Default to deliver to the
Holders a statement specifying such Default or Event of Default. 
 (c) Acceleration. If any Event of Default occurs
and is continuing, the Holders of at least 50% in principal amount of the then outstanding Notes may declare all the Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain
events of bankruptcy or insolvency, with respect to the Company, any Restricted Subsidiary, any Significant Subsidiary or any group of Restricted Subsidiaries that, taken together, would constitute a Significant Subsidiary, all outstanding Notes
will become due and payable without further action or notice. The Holders of a majority in aggregate principal amount of the then outstanding Notes may on behalf of all of the Holders rescind an acceleration and its consequences if the rescission
would not conflict with any judgment or decree and if all existing Events of Default (except nonpayment of principal that has become due solely because of the acceleration) have been cured or waived. 
 (d) Waiver of Past Defaults. The Holders of a majority in aggregate principal amount of the Notes then outstanding may, on behalf
of the Holders of all of the Notes, waive any existing Default or Event of Default and its consequences under this Note except a continuing Default or Event of Default in the payment of the principal of, or premium on, the Notes. Upon any such
waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Note, but no such waiver shall extend to any subsequent or other default or impair any right
consequent thereon. 
 (e) Control by Majority. Holders of a majority in aggregate principal amount of the then
outstanding Notes may direct the time, method and place of conducting any proceeding for exercising any remedy available upon an Event of Default. 
  

 -17- 

 (f) Rights of Holders of Notes to Receive Payment. Notwithstanding any other
provision of this Note, the right of the Holder of this Note to receive payment of the principal of, and premium on, this Note, on or after the respective due dates expressed in the Note (including in connection with a redemption or an offer to
purchase), or to bring suit for the enforcement of any such payment on or after such respective dates, shall not be impaired or affected without the consent of such Holder. 
 7. Successors. 
 (a)
Merger, Consolidation or Sale of Assets. The Company shall not consolidate or merge with or into (whether or not the Company is the surviving corporation), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially
all of its properties or assets in one or more related transactions, to another corporation, Person or entity unless: 
 (i)
the Company is the surviving corporation or the entity or the Person formed by or surviving any such consolidation or merger (if other than the Company) or to which such sale, assignment, transfer, conveyance or other disposition shall have been
made is a corporation organized or existing under the laws of either (A) the United States, any state thereof, the District of Columbia or Singapore or (B) a Subject Country, in which case the Company will have satisfied its obligations
set forth in Section 7(c); 
 (ii) the entity or Person formed by or surviving any such consolidation or merger (if other
than the Company) or the entity or Person to which such sale, assignment, transfer, lease, conveyance or other disposition shall have been made assumes all the obligations of the Company under the Notes and the Agreement pursuant to a written
document in a form reasonably satisfactory to the holders of a majority in aggregate principal amount of the Notes; and 
 (iii) immediately after such transaction no Default or Event of Default exists. 
 (b) Successor Corporation
Substituted. Upon any consolidation or merger or any transfer of all or substantially all of the assets of the Company in accordance with Section 7(a) hereof, the successor Person formed by such consolidation or into which the Company is
merged or to which such transfer is made shall succeed to and (except in the case of a lease) be substituted for (so that from and after the date of such consolidation, merger or transfer, the provisions of this Note and the Agreement referring to
the “Company” shall refer instead to the successor Person and not to the Company), and may exercise every right and power of, the Company under this Note and the Agreement with the same effect as if such successor Person had been named
herein as the company, and (except in the case of a lease) the Company shall be released from the obligations under the Notes and the Agreement except with respect to any obligations that arise from, or are related to, such transaction. 

(c) Restrictions upon Reincorporating, Merging or Consolidating into a Subject Country. The Company may not consolidate or merge
with or into (whether or not the Company is the surviving corporation), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets in one or more related transactions (a “Subject
Transaction”) to, another corporation, Person or entity unless it satisfies certain conditions. If the surviving or resulting transferee, lessee or successor Person (the “Successor Corporation”) in a 

  

 -18- 

 
Subject Transaction is incorporated in a Subject Country, then the Company must satisfy the conditions specified in paragraphs (i), (ii) and
(iii) below as promptly as practicable but no later than 60 days following the date of such Subject Transaction: 
 (i)
the Company shall have delivered to the Holders a written opinion, in form and substance satisfactory to the Holders of a majority of the aggregate principal amount of the Notes then outstanding, of independent legal counsel of recognized standing,
as to the continued validity, binding effect and enforceability of the Notes and the Agreement; 
 (ii) the Company shall have
delivered to the Holders a certificate, in form and substance satisfactory to holders of a majority in aggregate principal amount of the Notes then outstanding, signed by two executive officers of the Successor Corporation, as to the continued
validity, binding effect and enforceability of the Notes and the Agreement; and 
 (iii) the Successor Corporation shall,
promptly but no later than 60 days following the date of such Subject Transaction, consent to the jurisdiction of the Courts of the State of New York. 
 In the event of any Subject Transaction in which the Successor Corporation is organized and existing under the laws of a Subject Country, the Company will indemnify and hold harmless the Holder of each Note from and
against any and all present and future taxes, levies, imposts, charges and withholdings (including, without limitation, estate, inheritance, capital gains and other similar taxes), and any and all present and future registration, stamp, issue,
documentary or other similar taxes, duties, fees or charges, imposed, assessed, levied or collected by or for the account of any jurisdiction or political subdivision or taxing or other governmental agency or authority thereof or therein on or in
respect of the Notes or any amount paid or payable under any the Notes which, in any such case, would not have been imposed had such Subject Transaction not occurred. 
 8. Amendment and Waiver. Except as otherwise expressly provided herein, the provisions of this Note may be amended and the Company may take any action herein prohibited, or omit to perform any act herein
required to be performed by it, only if the Company has obtained the written consent of the Holders of at least a majority of the aggregate principal amount then outstanding of the Notes; provided that no such action shall change (i) the amount
of Notes whose Holders must consent to an amendment, (ii) reduce the amount of or any provision relating to the scheduled payment of principal of, or premium on, the Notes, (iii) change the time at which any Note may be redeemed or
repurchased, (iv) modify the provisions of Section 12 in a manner adverse to the Holders of any Notes, (v) make any Note payable in any money or at any place other than as stated in the Note, (vi) impair the right of any Holder
to receive payments of principal of, or premium on, such Holder’s Notes on or after the due dates therefore or to institute suit for the enforcement of any payment on or with respect to such Holder’s Notes, or (vii) make any change in
the amendment provisions which require each Holder’s consent or in the waiver provisions, in each such case without the consent of the applicable Holder if such change is adverse to such Holder. 
 9. Place of Payment. Payments of principal and premium, if any, and all notices and other communications to the Investor hereunder or with
respect hereto are to be delivered to the Investor at the address identified on Exhibit A to the Agreement or to such other address or to the 

  

 -19- 

 
attention of such other person as specified by prior written notice to the Company, including any transferee of this Note. 
 10. Costs of Collection. In the event that the Company fails to pay when due (including, without limitation upon acceleration in connection
with an Event of Default) the full amount of principal and/or premium hereunder, the Company shall indemnify and hold harmless the Holder of any portion of this Note from and against all reasonable costs and expenses incurred in connection with the
enforcement of this provision or collection of such principal and premium, including, without limitation, reasonable attorneys’ fees and expenses. 
 11. Waivers. The Company hereby waives presentment, demand, notice, protest and all other demands and notices in connection with the delivery, acceptance, performance, default or enforcement of this Note.

 12. Subordination of Notes. 
 (a) Notes Subordinated to Senior Debt. 
 The Company covenants and agrees, and each Holder of the
Notes, by its acceptance thereof, likewise covenants and agrees, that all Notes shall be issued subject to the provisions of this Section 12; and each person holding any Note, whether upon original issue or upon transfer, assignment or exchange
thereof, accepts and agrees that the payment of all Obligations on the Notes by the Company shall, to the extent and in the manner herein set forth, be subordinated and junior in right of payment to the prior payment in full in cash or Cash
Equivalents (or such payment shall be duly provided for to the satisfaction of the holders of the Senior Debt) of all Obligations on the Senior Debt; that the subordination is for the benefit of, and shall be enforceable directly by, the holders of
Senior Debt, and that each holder of Senior Debt, whether now outstanding or hereafter created, incurred, assumed or guaranteed, shall be deemed to have acquired Senior Debt in reliance upon the covenants and provisions contained in this Note.

 (b) No Payments on Notes in Certain Circumstances. 
 (i) If (A) a default in the payment of the principal of, premium, if any, or interest on Designated Senior Debt occurs and is
continuing beyond any applicable period of grace or (B) any other default occurs and is continuing with respect to Designated Senior Debt that permits holders of the Designated Senior Debt to which such default relates to accelerate its
maturity and, in the case of clause (B), the Company receives a notice of such default (a “Payment Blockage Notice”) from the holders of any Designated Senior Debt then, the Company may not make any payment upon or in respect
of the Notes (except payments in the form of Permitted Junior Securities) (the period during which such payments may not be made, the “Payment Blockage Period”). Payments on the Notes may and shall be resumed (x) in the
case of a payment default, upon the date on which such default is cured or waived and (y) in case of a nonpayment default, the earlier of (1) the date on which such nonpayment default is cured or waived, (2) 179 days after the date on
which the applicable Payment Blockage Notice is received, (3) the date such Designated Senior Debt shall have been discharged or paid in full in cash or (4) the date such Payment Blockage Period shall have been terminated by written notice
to the Company from the holders of Designated Senior Debt initiating such Payment Blockage Period, after which, in the case of clauses 

  

 -20- 

 
(1), (2), (3) and (4), the Company shall resume making any and all required payments in respect of the Notes, including any payments not made to the
Holders of the Notes during the Payment Blockage Period due to the foregoing prohibitions, unless the provisions described in clause (A) are then applicable. No new period of payment blockage may be commenced unless and until 360 days have
elapsed since the effectiveness of the immediately prior Payment Blockage Notice. No nonpayment default that existed or was continuing on the date of delivery of any Payment Blockage Notice to the Company shall be, or be made, the basis for a
subsequent Payment Blockage Notice unless such default shall have been cured or waived for a period of not less than 90 days. 
 (ii) The Company must provide the holders of Designated Senior Debt at least 10 days’ prior written notice of any acceleration of the maturity of the Notes. 
 (iii) As a result of the subordination provisions described above, in the event of a liquidation or insolvency, Holders of the Notes may
recover less ratably than creditors of the Company who are holders of Senior Debt. 
 (iv) In the event that, notwithstanding
the foregoing, any payment shall be received by any Holder when such payment is prohibited by Section 12(b)(i), such payment shall be held in trust for the benefit of, and shall be paid over or delivered to, the holders of Senior Debt (pro rata
to such holders on the basis of the respective amount of Senior Debt held by such holders) as their respective interests may appear. The Company shall be entitled to conclusively rely on information regarding amounts then due and owing on the Senior
Debt, if any, received from the holders of Senior Debt (or their representatives), and only amounts included in the information provided to the Company shall be paid to the holders of Senior Debt. 
 (v) Nothing contained in this Section 12 shall limit or compromise the right of the Holders to take any action to accelerate the
maturity of the Notes pursuant to Section 6 or to pursue any rights or remedies hereunder or otherwise; provided, however, that all Senior Debt thereafter due or declared to be due shall first be paid in full in cash or Cash Equivalents before
the Holders are entitled to receive any payment of any kind or character with respect to Obligations on the Notes. 
 (c) Payment Over of Proceeds upon Dissolution, Etc. 
 (i) Upon any distribution to creditors of the
Company in a total or partial liquidation, winding-up, reorganization or dissolution of the Company or in a voluntary or involuntary bankruptcy, reorganization, insolvency, receivership or similar proceeding relating to the Company or its property,
an assignment for the benefit of creditors or any marshalling of the Company’s assets and liabilities, the holders of Senior Debt will be entitled to receive payment in full in cash of all Obligations due in respect of such Senior Debt
(including interest after the commencement of any such proceeding at the rate specified in the applicable Senior Debt) before the Holders of the Notes will be entitled to receive any payment with respect to the Notes, and until all Obligations with
respect to Senior Debt are paid in full in cash, any distribution to which the Holders of the Notes would be entitled shall be made to the holders of Senior Debt (except that Holders of the Notes may receive Permitted Junior Securities). 

 

 -21- 

 (ii) To the extent any payment of Senior Debt (whether by or on behalf of the Company, as
proceeds of security or enforcement of any right of setoff or otherwise) is declared to be fraudulent or preferential, set aside or required to be paid to any receiver, trustee in bankruptcy, liquidating trustee, agent or other similar person under
any bankruptcy, insolvency, receivership, fraudulent conveyance or similar law, then, if such payment is recovered by, or paid over to, such receiver, trustee in bankruptcy, liquidating trustee, agent or other similar person, the Senior Debt or part
thereof originally intended to be satisfied shall be deemed to be reinstated and outstanding as if such payment had not occurred. 
 (iii) In the event that, notwithstanding the foregoing, any payment or distribution of assets of the Company of any kind or character, whether in cash, property or securities, shall be received by any Holder when such payment or
distribution is prohibited by this Section 12(c), such payment or distribution shall be held in trust for the benefit of, and shall be paid over or delivered to, the holders of Senior Debt (pro rata to such holders on the basis of the
respective amount of Senior Debt held by such holders) or their representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Debt may have been issued, as their respective interests may appear, for
application to the payment of Senior Debt remaining unpaid until all such Senior Debt has been paid in full in cash or Cash Equivalents, after giving effect to any concurrent payment, distribution or provision therefor to or for the holders of such
Senior Debt. 
 (iv) The consolidation of the Company with, or the merger of the Company with or into, another corporation or
the liquidation or dissolution of the Company following the conveyance or transfer of all or substantially all of its assets, to another corporation shall not be deemed a dissolution, winding-up, liquidation or reorganization for the purposes of
this Section 12(c) if, in the event the Company is not the surviving corporation, such other corporation shall, as a part of such consolidation, merger, conveyance or transfer, assume the Company’s obligations under the Notes. 

(d) Payments May be Made Prior to Dissolution. Nothing contained in this Section 12 or elsewhere in this Note shall prevent
the Company, except under the conditions described in Sections 12(b) and 12(c), from making payments at any time for the purpose of making payments of principal of and premium, if any, on the Notes. 
 (e) Subrogation. Subject to the payment in full in cash or Cash Equivalents of all Senior Debt, the Holders shall be subrogated to
the rights of the holders of Senior Debt to receive payments or distributions of cash, property or securities of the Company applicable to the Senior Debt until the Notes shall be paid in full; and, for the purposes of such subrogation, no such
payments or distributions to the holders of the Senior Debt or by or on behalf of the Company or by or on behalf of the Holders by virtue of this Section 12 which otherwise would have been made to the Holders shall, as between the Company and
the Holders, be deemed to be a payment by the Company to or on account of the Senior Debt, it being understood that the provisions of this Section 12 are and are intended solely for the purpose of defining the relative rights of the Holders, on
the one hand, and the holders of the Senior Debt, on the other hand. 
 (f) Obligations of the Company Unconditional.
Nothing contained in this Section 12 or elsewhere in this Note is intended to or shall impair, as among the Company, creditors 

  

 -22- 

 
other than the holders of Senior Debt, and the Holders of the Notes, the obligation of the Company, which is absolute and unconditional, to pay to the
Holders the principal of and any premium on the Notes as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders and creditors of the Company other than the
holders of any Senior Debt, nor shall anything herein or therein prevent the Holders from exercising all remedies otherwise permitted by applicable law upon default under this Note, subject to the rights, if any, under this Section 12 of the
holders of Senior Debt in respect of cash, property or securities of the Company received upon the exercise of any such remedy. 
 (g) Reliance on Judicial Order or Certificate of Liquidating Agent. Upon any payment or distribution of assets of the Company referred to in this Section 12, the Holders shall be entitled to rely upon any order or decree made by
any court of competent jurisdiction in which bankruptcy, dissolution, winding-up, liquidation or reorganization proceedings are pending, or upon a certificate of the receiver, trustee in bankruptcy, liquidating trustee, agent or other person making
such payment or distribution, delivered to the Holders, for the purpose of ascertaining the persons entitled to participate in such distribution, the holders of the Senior Debt and other Debt of the Company, the amount thereof or payable thereon,
the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Section 12. 
 (h) Subordination Rights Not Impaired by Acts or Omissions of the Company or a Guarantor or Holders of Senior Debt. 
 (i) No right of any present or future holders of any Senior Debt to enforce subordination as provided herein shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the
Company or by any act or failure to act, in good faith, by any such Holder, or by any noncompliance by the Company with the terms of this Note, regardless of any knowledge thereof which any such Holder may have or otherwise be charged with.

 (ii) Without in any way limiting the generality of the foregoing paragraph, the holders of Senior Debt may, at any time and
from time to time, without incurring responsibility to the Holders and without impairing or releasing the subordination provided in this Section 12 or the obligations hereunder of the Holders of the Notes to the holders of the Senior Debt, do
any one or more of the following: (A) change the manner, place or terms of payment or extend the time of payment of, or renew or alter, Senior Debt, or otherwise amend or supplement in any manner Senior Debt, or any instrument evidencing or
securing the same or any agreement under which Senior Debt is outstanding; (B) sell, exchange, release or otherwise deal with any property pledged, mortgaged or otherwise securing Senior Debt; (C) release any person liable in any manner
for the payment or collection of Senior Debt; and (D) exercise or refrain from exercising any rights against the Company or any other person. 
 (i) Holders’ Agreement to Effectuate Subordination of Securities. Each Holder by its acceptance of the Notes agrees to take such action as may be necessary or appropriate to effectuate, as between the
holders of Senior Debt and the Holders, the subordination provided in this Section 12. 
  

 -23- 

 (j) This Section 12 Not to Prevent Events of Default. The failure to make a
payment on account of principal of or premium on the Notes by reason of any provision of this Section 12 will not be construed as preventing the occurrence of an Event of Default. 
 13. Benefits of the Agreement. The Investor and all transferees (to the extent permitted in the Agreement) shall be entitled to the rights
and benefits granted to them in the Agreement. 
 14. Registration of Transfer and Exchange Generally. 
 (a) Registration, Registration of Transfer and Exchange Generally. The Company shall keep at its principal executive offices a
register (the register maintained in such being herein sometimes collectively referred to as the “Note Register”) in which the Company shall provide for the registration of Notes and of transfers and exchanges of Notes.

 Subject to the provisions of the Agreement regarding restrictions on transfer and provided the transferee agrees to be bound by the terms
of the Agreement, upon surrender for registration of transfer of any Note at its principal executive office, the Company shall execute and deliver, in the name of the designated transferee or transferees, one or more new Notes in denominations
requested by the transferee (which denominations shall not be less than $1,000,000 per Note), of a like aggregate principal amount and bearing such restrictive legends as may be required by law. 
 At the option of a Holder, Notes may be exchanged for other Notes of any authorized denominations, of a like aggregate principal amount and bearing such
restrictive legends as may be required by law upon surrender of the Notes to be exchanged at the Company’s principal executive offices. Whenever any Notes are so surrendered for exchange, the Company shall execute and make available for
delivery the Notes that the Holder making the exchange is entitled to receive. 
 All Notes issued upon any registration of transfer or
exchange of Notes shall be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits as the Notes surrendered upon such registration of transfer or exchange. 
 Every Note presented or surrendered for registration of transfer or for exchange shall (if so required by the Company) be duly endorsed, or be
accompanied by a written instrument of transfer in form satisfactory to the Company, duly executed by the Holder thereof or his attorney duly authorized in writing. 
 No service charge shall be made for any registration of transfer or exchange of Notes. 
 (b)
Mutilated, Destroyed, Lost and Stolen Notes. If any mutilated Note is surrendered to the Company, the Company shall execute and make available for delivery in exchange therefor a new Note of like tenor and principal amount and bearing a
number not contemporaneously outstanding. 
 If there shall be delivered to the Company (i) evidence to its reasonable satisfaction of
the destruction, loss or theft of any Note and (ii) such security or indemnity as may be required by the Company to save itself harmless, then, in the absence of notice to the Company that such Note has been acquired by a protected purchaser,
the Company shall execute and make available for delivery, in lieu of any such destroyed, lost or stolen Note, a new Note of like tenor and principal amount and bearing a number not contemporaneously outstanding. 
  

 -24- 

 Every new Note issued pursuant to this Section 14 in lieu of any mutilated, destroyed, lost or
stolen Note shall constitute an original additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Note shall be at any time enforceable by anyone. 
 The provisions of this Section 14 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the
replacement or payment of mutilated, destroyed, lost or stolen Notes. 
 15. Governing Law. THIS NOTE SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 16. Consent to Jurisdiction and Service. (a) The
Company hereby irrevocably and unconditionally: 
 (i) submits for itself and its property in any legal action or proceeding
relating to this Note or the transactions contemplated hereby, to the general non-exclusive jurisdiction of the Courts of (A) the State of California in San Jose, California and (B) the State of New York in New York City, the Courts of the
United States of America for (C) the Northern District of California in San Jose, California and (D) the Southern District of New York in New York City, and appellate courts from any thereof; 
 (ii) consents that any such action or proceeding may be brought in such courts, and waives any objection that it may now or hereafter have
to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim the same to the extent permitted by applicable law; 
 (iii) agrees that service of process in any such action or proceeding may be effected by mailing a copy thereof by registered or certified
mail (or any substantially similar form of mail), postage prepaid, to the party, as the case may be, at the Company’s address set forth in Section 10.4 of the Agreement or at such other address of which the Holder of this Note shall have
been notified pursuant the terms of the Agreement; and 
 (iv) agrees that nothing herein shall affect the right to effect
service of process in any other manner permitted by law or shall limit the right to sue in any other jurisdiction for recognition and enforcement of any judgment or if jurisdiction in the courts referenced in the foregoing clause (i) is not
available despite the intentions of the parties hereto. 
 (b) The Company agrees that a final judgment in any suit, action or
proceeding brought in a court described in Section 16(a)(i) may be enforced in the courts of any jurisdiction to which the Company is subject by a suit upon such judgment, provided that service of process is effected upon the Company in the
manner specified herein or as otherwise permitted by law. To the extent that the Company has or hereafter may acquire any immunity from jurisdiction of any court or from any legal process with respect to itself or its property, the Company hereby
irrevocably waives such immunity in respect of its obligations under this Note, to the extent permitted by law. 
  

 -25- 

 17. Bermuda Branch; Full Recourse Obligations. Notwithstanding anything to the contrary
contained herein, all payments of principal and premium, if any, by the Company with respect to the Notes will be made by the Company through its Bermuda branch office; provided, however, that notwithstanding the foregoing, the Company acknowledges
that its Obligations hereunder are full recourse to the Company and are in no manner limited to any extent to any branch thereof and shall in no manner impair the Holder’s ability to collect any Obligation from the Company. 
 18. Notices. Any notices or other communications required or permitted to be given under this Note shall be in writing and shall be deemed
to be given when delivered in person or by private courier with receipt, when telefaxed upon confirmation of receipt, or three (3) days after being deposited in the United States mail, first-class, registered or certified, return receipt
requested, with postage paid and, 
 if to the Company, addressed as follows: 
 Flextronics International Ltd., 
 acting
through its Bermuda branch 
 Canon’s Court 
 22 Victoria Street 
 Hamilton HM 12 
 Bermuda 
 and 
 Flextronics International Ltd. 
 c/o
Flextronics International USA, Inc. 
 2090 Fortune Drive 
 San Jose, CA 95131 
 Attention: Chief Financial Officer 
 Facsimile: 408-428-0859 
 with a copy to:

 Curtis, Mallet-Prevost, Colt & Mosle LLP 
 101 Park Avenue 
 New York, NY 10178 
 Attention: Jeffrey N. Ostrager 
 Facsimile:
212-697-1559 
 if to the Holder, addressed as follows: 
 [Silver Lake Entity] 
 2775 Sand Hill Road, Suite 100 
 Menlo Park, CA 94025 
 Attention: General
Counsel 
 Facsimile: (650) 233-8125 
  

 -26- 

 with a copy to: 
 Simpson Thacher & Bartlett LLP 
 2550 Hanover Street 
 Palo Alto, CA 94304 
 Attention: Richard
Capelouto 
 Facsimile: (650) 251-5002 
 Any Person may change the address to which notices and communications to it are to be addressed by notification as provided for herein. 
 IN WITNESS WHEREOF, the Company has executed and delivered this Note on July 14, 2006. 
  

			
	 FLEXTRONICS INTERNATIONAL LTD.,
 acting through its Bermuda branch

		
	By:	 	  
	 Name:
 Title:
	 	

  

 -27-Employment Agreement, dated July 14, 2006

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT AGREEMENT (this “Agreement”) is
made and entered into this 14th day of July 2006, by and between SeraCare Life Sciences, Inc., a California
corporation (the “Company”), and Susan Vogt, an individual (the “Executive”). 
 RECITALS 

THE PARTIES ENTER THIS AGREEMENT on the basis of the following facts, understandings and intentions: 
 A. The Company desires that the Executive be employed by the Company to carry out the duties and responsibilities described below, all on the
terms and conditions hereinafter set forth. 
 B. The Executive desires to accept such employment on such terms and conditions.

 C. This Agreement shall govern the employment relationship between the Executive and the Company from and after the Effective Date
(as defined below) and supersedes and negates all previous agreements with respect to such relationship. 
 NOW, THEREFORE, in
consideration of the above recitals incorporated herein and the mutual covenants and promises contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby expressly acknowledged, the parties agree as
follows: 
  

	1.	Retention and Duties. 

  

	 	1.1	Bankruptcy Court Approval. On March 22, 2006, the Company filed a voluntary petition for reorganization under chapter 11 of the United States Bankruptcy
Code (the “Code”) in the United States Bankruptcy Court for the Southern District of California (the “Bankruptcy Court”). The Company’s case is No. 06-00510-11 (the “Bankruptcy Case”). The
parties acknowledge that this Agreement shall not be effective unless and until approved by the Bankruptcy Court. For purposes of this Agreement, the term “Effective Date” means the date on which the Company receives Bankruptcy Court
approval of this Agreement. 

  

	 	1.2	Retention. The Company does hereby hire, engage and employ the Executive for the Period of Employment (as defined in Section 2) on the terms and conditions
expressly set forth in this Agreement. The Executive does hereby accept and agree to such hiring, engagement and employment, on the terms and conditions expressly set forth in this Agreement. 

  

	 	1.3	 Duties. During the Period of Employment, the Executive shall serve the Company as its President and Chief Executive Officer and shall have the
powers, authorities, duties and obligations of management usually vested in the office of the chief executive officer of a corporation, subject to the directives of the Company’s Board of Directors (the “Board”) and the
corporate policies of the 

  

 1 

	 	 
Company as they are in effect from time to time throughout the Period of Employment (including, without limitation, the Company’s business conduct and
ethics policies, as they may change from time to time). The Executive will be appointed to the Board as of the Effective Date. During the Period of Employment, the Executive shall report solely to the full Board. 

  

	 	1.4	No Other Employment; Minimum Time Commitment. During the Period of Employment, the Executive shall both (i) devote substantially all of the
Executive’s business time, energy and skill to the performance of the Executive’s duties for the Company, and (ii) hold no other employment. It is anticipated that the Executive will serve on the boards of directors (or similar body)
of other business, community or charitable organizations, and otherwise provide customary services (without compensation, other than as a director) thereto, subject to the prior written approval of the Board, which shall not be unreasonably
withheld. The Company shall, however, have the right to require the Executive to resign from any board or similar body on which she may then serve, or any other position with any such entity, if the Board reasonably determines that the
Executive’s service on such board or body, or other such service, interferes with the effective discharge of the Executive’s duties and responsibilities to the Company or that any business related to any such service is then in competition
with any business of the Company or any of its affiliates, successors or assigns. Subject to the Company’s rights pursuant to the preceding sentence, the Company expressly approves and acknowledges Executive’s service on the board of
Justrite Manufacturing Company, LLC, without the need for further Board action. 

  

	 	1.5	No Breach of Contract. The Executive hereby represents to the Company that, to the best of her knowledge and belief: (i) the execution and delivery of this
Agreement by the Executive and the Company and the performance by the Executive of the Executive’s duties hereunder shall not constitute a breach of, or otherwise contravene, the terms of any other agreement or policy to which the Executive is
a party or otherwise bound; (ii) the Executive has no information (including, without limitation, confidential information or trade secrets) relating to any other person or entity which would prevent, or be violated by, the Executive entering
into this Agreement or carrying out her duties hereunder; and (iii) the Executive is not bound by any confidentiality, trade secret or similar agreement (other than this Agreement and the Employee Confidentiality Agreement attached hereto as
Exhibit A (the “Confidentiality Agreement”)) and Executive’s Officer Severance Agreement with Millipore Corporation dated November 18, 2003 (the “Millipore Agreement”), with any other person or
entity. The Executive will not provide confidential or similar information to the Company or any of its affiliates in violation of her obligations pursuant to the Millipore Agreement. The Executive hereby represents and covenants to the Company
that, to the best of her knowledge and belief, her obligations pursuant to the Millipore Agreement will not interfere with her effective discharge of her duties and obligations pursuant to this Agreement. 

  

 2 

	 	1.6	Location. The Executive’s principal place of employment shall be the Company’s principal executive offices, as they may be located from time to time.
The Executive agrees that she will be regularly present at the Company’s principal executive offices. The Executive acknowledges that she may be required to travel from time to time in the course of performing her duties for the Company.

  

	2.	Period of Employment. The “Period of Employment” shall be a period of three (3) years commencing on the Effective Date and ending at the
close of business on the third (3rd) anniversary of the Effective Date (the “Termination Date”); provided, however, that this Agreement shall be automatically renewed, and the Period of Employment shall be automatically
extended for one (1) additional year on the Termination Date and each anniversary of the Termination Date thereafter, unless either party gives notice, in writing, at least sixty (60) days prior to the expiration of the Period of
Employment (including any renewal thereof) of such party’s desire to terminate the Period of Employment. The term “Period of Employment” shall include any extension thereof pursuant to the preceding sentence. If the Company provides
notice that the Period of Employment shall not be extended or further extended, as the case may be, Executive’s employment by the Company shall terminate at the end of the Period of Employment then in effect and, in connection with such
termination of employment and subject to Section 5.4, Executive shall be entitled to all the severance benefits provided in Section 5.3(b)(i)-(iv). Notwithstanding the foregoing, the Period of Employment is subject to earlier termination
as provided below in this Agreement. 

  

	3.	Compensation. 

  

	 	3.1	Base Salary. The Executive’s base salary (the “Base Salary”) shall be paid in accordance with the Company’s regular payroll practices
in effect from time to time, but not less frequently than in monthly installments. The Executive’s Base Salary for the first twelve (12) months of the Period of Employment shall be at an annualized rate of Three Hundred and Fifty Thousand
Dollars ($350,000). The Company will review the Executive’s Base Salary at least annually and may increase (but not decrease) the Executive’s Base Salary from the rate then in effect based on such review. 

  

	 	3.2	 Incentive Bonus. For each fiscal year of the Company that ends during the Period of Employment, the Executive shall be eligible to receive an
annual incentive bonus (“Incentive Bonus”) in an amount to be determined by the Board (or the Compensation Committee thereof) in its sole discretion, based on the performance objectives established by the Board for that particular
period. The Executive’s target Incentive Bonus amount for any such fiscal year shall be equal to least seventy five percent (75%) of the Executive’s Base Salary for that particular year, and there shall be no caps (other than any
maximum amount provided under any applicable stockholder-approved incentive plan under which the particular bonus opportunity may be structured or any maximum amount that may be determined pursuant to any incentive compensation formula that may be

  

 3 

	 	 
adopted pursuant to the applicable incentive plan) on the total Incentive Bonus payable to Executive for any year. 

  

	 	3.3	Stock Option Grants. Subject to this Section 3.3, on the Effective Date the Company will grant to the Executive a nonqualified stock option (the
“Option”) to purchase 450,000 shares of the Company’s common stock, no par value (the “Common Stock”). The exercise price per share of the Option will be equal to the fair market value of a share of the Common
Stock on the Effective Date. The Board (or Compensation Committee thereof) will determine such fair market value in its reasonable, good faith discretion (it being intended that, if the Common Stock is then not publicly traded other than on the
over-the-counter market, such fair market value shall be based on the last sales price for a share of Common Stock as quoted on the Pink Sheets unless such methodology does not, in the Board’s reasonable, good faith discretion, produce an
accurate fair market value in the circumstances). The Option will vest in substantially equal annual installments (equal installments except that the installments will be rounded to produce vesting installments of whole share increments) over the
three-year period following the Effective Date. Except as otherwise provided herein or in the Option Agreement referenced below, in each case, the vesting of each installment of the Option is subject to the Executive’s continued employment by
the Company through the respective vesting date. The maximum term of the Option will be ten (10) years from the date of grant of the Option, subject to earlier termination upon the termination of the Executive’s employment with the
Company, a change in control of the Company and similar events. The Option shall be subject to such further terms and conditions as set forth in a written stock option agreement to be entered into by the Company and the Executive to evidence the
Option (the “Option Agreement”). The Option Agreement shall be in substantially the form attached hereto as Exhibit C. 

 Executive shall also be eligible to participate in and receive additional grants commensurate with her position and level in any stock option plan and restricted stock plan or other equity-based or equity related
compensation plan, programs or agreements of the Company made available generally to its senior executives; provided that the amount, timing, and other terms of any future grant shall be determined by the Board (or the Compensation Committee
thereof) in its sole discretion. 
  

	4.	Benefits. 

  

	 	4.1	Retirement, Welfare and Fringe Benefits. During the Period of Employment, the Executive shall be entitled to participate in all employee pension and welfare benefit
plans and programs, and fringe benefit plans and programs, made available by the Company to the Company’s employees generally, in accordance with the eligibility and participation provisions of such plans and as such plans or programs may be in
effect from time to time. 

  

 4 

	 	4.2	Reimbursement of Business Expenses. The Executive is authorized to incur reasonable expenses in carrying out the Executive’s duties for the Company under this
Agreement and reimbursement for all reasonable business expenses the Executive incurs during the Period of Employment in connection with carrying out the Executive’s duties for the Company, subject to the Company’s expense reimbursement
policies in effect from time to time. 

  

	 	4.3	Vacation and Other Leave. During the Period of Employment, the Executive shall accrue and be entitled to take paid vacation in accordance with the Company’s
vacation policies in effect from time to time, including the Company’s policies regarding vacation accruals; provided that the Executive’s rate of vacation accrual during the Period of Employment shall be no less than four (4) weeks
per year. The Executive shall also be entitled to all other holiday and leave pay generally available to other executives of the Company. 

  

	 	4.4	Relocation Costs. If at any time during the Period of Employment the Executive relocates her permanent residence to the area in which the Company’s principal
offices are located, the Company shall pay or reimburse the Executive for her reasonable, documented relocation expenses (including real estate commissions). To the extent that any such payment or reimbursement is taxable to the Executive, the
Company shall pay the Executive a gross-up so the Executive has no after-tax costs with regard to such payment or reimbursement. In no event, however, will the Company have any such payment, reimbursement or other obligation to the Executive
pursuant to this Section 4.4 (including, without limitation, as to any such gross-up payment) to the extent that such payments, reimbursements, or other obligations to the Executive pursuant to this Section 4.4 exceed One Hundred and
Seventy Five Thousand Dollars ($175,000) in the aggregate taking into account all such previous payments and reimbursements. 

  

	5.	Termination. 

  

	 	5.1	Termination by the Company. The Executive’s employment by the Company, and the Period of Employment, may be terminated by the Company: (i) at any time
with Cause (as defined in and subject to the provisions of Section 5.5), or (ii) with no less than thirty (30) days advance notice to the Executive, without Cause, (iii) in the event of the Executive’s death, or (iv) in
the event that the Board determines in good faith that the Executive has a Disability (as defined in Section 5.5). 

  

	 	5.2	Termination by the Executive. The Executive’s employment by the Company, and the Period of Employment, may be terminated by the Executive with no less than
thirty (30) days advance notice to the Company; provided, however, that in the case of a termination for Good Reason, the Executive may provide immediate written notice if the Company fails to, or cannot, pursuant to Section 5.5(d)
reasonably cure the event that constitutes Good Reason. 

  

 5 

	 	5.3	Benefits Upon Termination. If the Executive’s employment by the Company is terminated during the Period of Employment for any reason by the Company or by
the Executive, or upon or following the expiration of the Period of Employment (in any case, the date that the Executive’s employment by the Company terminates is referred to as the “Severance Date”), the Company shall have no
further obligation to make or provide to the Executive, and the Executive shall have no further right to receive or obtain from the Company, any payments or benefits except as follows: 

  

	 	(a)	The Company shall pay the Executive (or, in the event of her death, the Executive’s estate) any Accrued Obligations (as defined in Section 5.5); 

 

	 	(b)	If, during the Period of Employment, the Executive’s employment is terminated by the Company without Cause or by the Executive for Good Reason (as such terms are defined in
Section 5.5), the Company shall, subject to the following provisions of this Section 5.3 and the provisions of Section 5.4, pay (in addition to the Accrued Obligations) the Executive the following severance benefits (the
“Severance Benefits”): 

  

	 	(i)	The Company shall pay the Executive, subject to Section 21, an amount, subject to tax withholding and other authorized deductions, equal to the sum of:

  

	 	(x)	one times the Executive’s Base Salary at the annual rate in effect on the Severance Date, plus 

  

	 	(y)	a pro-rated amount of the Executive’s Incentive Bonus for the year in which such Severance Date occurs. For purposes of determining the pro-rated amount of the Incentive Bonus
to be paid pursuant to this clause (y), the applicable performance objectives for the year in which the Severance Date occurs shall be pro-rated to reflect the portion of the year completed prior to the Severance Date and the Board shall in good
faith determine the amount of the Incentive Bonus that would be paid if the applicable measurement criteria were such short-year objectives (by comparing actual performance for such short year against such pro-rated objectives). A pro-rated amount
of such Incentive Bonus amount shall then be paid pursuant to this clause (y). (For purposes of illustration, if the Severance Date occurs half-way through the related fiscal year of the Company, and the Executive’s target Incentive Bonus for
such fiscal year was 75% of her Base Salary for that year, and the Board determines that the related performance objectives (as pro-rated) were satisfied at target for such short year based on actual performance for the first half of that year,
37.5% of the target bonus amount (50% of 75%) would be paid.) 

  

 6 

 However, in the event that the Executive’s Severance Date occurs upon or after the occurrence of
both of the following events: (1) the occurrence of a Change in Control Event (as defined below) of the Company and (2) the Bankruptcy Effective Date (as such term is defined below), and the Executive is entitled to benefits
pursuant to this Section 5.3(b), then the amount paid pursuant to clause (i)(x) above shall equal one and one-half (1.5) times the Executive’s Base Salary at the annual rate in effect on the Severance Date (as opposed to, and not in
addition to, the amount otherwise provided in clause (i)(x)). For purposes of this Agreement, “Change in Control Event” has the meaning given to such term in the form of Option Agreement attached hereto as Exhibit C. For purposes of
this Agreement, “Bankruptcy Effective Date” means the effective date of the Company’s plan of reorganization as approved by the Bankruptcy Court in the Bankruptcy Case proceedings. 
 In the event that the Executive’s Severance Date occurs upon or after the occurrence of all of the following events: (1) the occurrence
of a Change in Control Event of the Company, (2) the Bankruptcy Effective Date, and (3) the first anniversary of the Effective Date, and the Executive is entitled to benefits pursuant to this Section 5.3(b), then the amount otherwise
payable pursuant to this clause (i) (as determined pursuant to the preceding paragraphs of this clause (i)) shall be increased by one and one-half (1.5) times the Executive’s target Incentive Bonus for the year in which such Severance
Date occurs. 
 Subject to Section 20, the severance benefit determined pursuant to this clause (i) shall be paid by the Company in
a single lump sum not later than thirty (30) days after the Executive’s Severance Date. 
  

	 	(ii)	 The Company will pay or reimburse the Executive for her premiums charged to continue medical coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act
(“COBRA”), at the same or reasonably equivalent medical coverage for the Executive (and, if applicable, the Executive’s eligible dependents) as in effect immediately prior to the Severance Date, to the extent that Executive
elects such continued coverage; provided that the Company’s obligation to make any payment or reimbursement pursuant to this clause (ii) shall cease upon the first to occur of (a) the first anniversary of the Severance Date;
(b) the Executive’s death; (c) the date the Executive becomes eligible for coverage under the health plan of a future employer; or (d) the date the 

  

 7 

	 	 
Company or its affiliates ceases to offer any group medical coverage to its active executive employees or the Company is otherwise under no obligation to
offer COBRA continuation coverage to the Executive. 

  

	 	(iii)	The stock options granted to the Executive pursuant to Section 3.3 and any additional stock options or equity or equity-related compensation or grants that vest based on the
passage of time and continued performance of services (to the extent outstanding and not otherwise vested as of the Severance Date, and exclusive of any grants that include performance-based vesting criteria) shall become fully vested immediately
prior to such termination. Except as provided in this Section 5.3(b)(iii), the effect of a termination of the Executive’s employment on the Executive’s stock options (including any limited period to exercise such options) shall be
determined under the terms of the award agreement evidencing such option. 

  

	 	(iv)	Company shall reimburse Executive for amounts, not in excess of Fifty Thousand Dollars ($50,000.00) in the aggregate taking into account all such expenses previously reimbursed,
expended by Executive for executive outplacement services from a provider of her choice. Such submitted expenses shall be reimbursed by the Company on the earlier of the date 30 days after submission by the Executive of such expenses for
reimbursement or December 31st of the second calendar year following the Date of Termination. 

 Notwithstanding the
foregoing provisions of this Section 5.3, if the Executive materially breaches any of her obligations under the Confidentiality Agreement or under the Non-Competition Agreement (as defined in Section 6) at any time, from and after the date
of such breach, the Executive will no longer be entitled to, and the Company will no longer be obligated to pay, any remaining unpaid portion of the Severance Benefits (and, without limiting the generality of the foregoing, any reimbursement
obligation pursuant to clause (iii) or (iv) above shall terminate). 
 The foregoing provisions of this Section 5.3 shall not
affect: (i) the Executive’s receipt of benefits otherwise due terminated employees under group insurance coverage consistent with the terms of the applicable Company welfare benefit plan; (ii) the Executive’s rights under COBRA
to continue participation in medical, dental, hospitalization and life insurance coverage; or (iii) the Executive’s receipt of benefits otherwise due in accordance with the terms of the Company’s 401(k) plan (if any). 
  

	 	5.4	Release; Exclusive Remedy. 

  

	 	(a)	 This Section 5.4 shall apply notwithstanding anything else contained in this Agreement, the Option Agreement or any other stock option, 

  

 8 

	 	 
restricted stock or other equity-based award agreement to the contrary. As a condition precedent to any Company obligation to the Executive pursuant to
Section 5.3(b) or any obligation to accelerate vesting of any equity-based award in connection with the termination of the Executive’s employment, the Executive shall, upon or promptly following her last day of employment with the Company,
provide the Company with a valid, executed general release agreement in a form acceptable to the Company, and such release agreement shall have not been revoked by the Executive pursuant to any revocation rights afforded by applicable law. Such
release shall be in substantially the form attached hereto as Exhibit E (together with any changes thereto as the Company may determine necessary or appropriate to render the release enforceable to the fullest extent possible). The Company
shall have no obligation to make any payment to the Executive pursuant to Section 5.3(b) (or otherwise accelerate the vesting of any equity-based award in the circumstances as otherwise contemplated by the applicable award agreement) unless and
until the release agreement contemplated by this Section 5.4 becomes irrevocable by the Executive in accordance with all applicable laws, rules and regulations. 

  

	 	(b)	The Company and the Executive acknowledge and agree that there is no duty of the Executive to mitigate damages under this Agreement. All amounts paid to the Executive pursuant to
Section 5.3 shall be paid without regard to whether the Executive has taken or takes actions to mitigate damages. 

  

	 	(c)	In the event of any termination of the Executive’s employment with the Company (regardless of the reason for such termination), Executive irrevocably resigns from the Board
effective as of the time of such termination. 

  

	 	5.5	Certain Defined Terms. 

  

	 	(a)	As used herein, “Accrued Obligations” means: 

  

	 	(i)	any Base Salary that had accrued but had not been paid (including accrued and unpaid vacation time) on or before the Severance Date; and 

  

	 	(ii)	any Incentive Bonus payable pursuant to Section 3.2 with respect to any fiscal year that ends during the Period of Employment preceding the fiscal year in which the Severance
Date occurs to the extent earned by but not previously paid to the Executive; and 

  

	 	(iii)	any reimbursement due to the Executive pursuant to Section 4.2 or Section 4.4 for expenses incurred by the Executive on or before the Severance Date.

  

 9 

	 	(b)	As used herein, “Cause” shall mean, as reasonably determined by the Board (excluding the Executive, if she is then a member of the Board), (i) any act of
willful personal dishonesty taken by the Executive in connection with her responsibilities as an employee of the Company which is intended to result in substantial personal enrichment of the Executive, (ii) the Executive’s conviction of,
indictment for, or pleading guilty or nolo contendere to, or entering a similar plea to, a misdemeanor involving moral turpitude or a felony, (iii) fraud or willful and material misconduct by Executive, (iv) a willful violation by
the Executive of the Executive’s material obligations to the Company (including, without limitation, any willful refusal of the Executive to perform her duties for the Company) or other material breach by the Executive of this Agreement,
(v) the Executive is found liable in any Securities and Exchange Commission or other civil or criminal securities law action, or (vi) a material breach by the Executive of the Confidentiality Agreement or of the Non-Competition Agreement.
No act or failure to act by Executive shall be considered “willful” if such act is or was done (or is or was omitted to be done) in the good faith belief that it is or was in the best interests of the Company. Prior to any purported
termination for Cause, the Company shall send a written notice of termination to the Executive indicating the specific provision in this Agreement on which such a claim of Cause would be based, and setting forth in reasonable detail the facts and
circumstances on which such a claim would be based. In the event of any claim of Cause based on clause (iii) or (iv) of the foregoing definition of “Cause”, the Executive shall be given an opportunity (of not more than 30 days)
to promptly cure such conduct (or lack thereof); provided, however, that the Company need not give the Executive the opportunity to cure conduct (or lack thereof) that is substantially similar to past conduct (or lack thereof) for which such a
notice was provided within the preceding 18-month period. Further, before any actual termination of the Executive’s employment for Cause, the Executive shall be given an opportunity to be heard by the Board as to the circumstances purporting to
constitute Cause and any determination to terminate the Executive’s employment for Cause shall be by a vote of not less than two-thirds of the entire Board (exclusive of the Executive if she is then a director). 

  

	 	(c)	 As used herein, “Disability” shall mean a physical or mental impairment which, as reasonably determined by the Board, renders the Executive unable
to perform the essential functions of her employment with the Company, even with reasonable accommodation that does not impose an undue hardship on the Company, for more than 180 days in any 12-month 

  

 10 

	 	 
period, unless a longer period is required by federal or state law, in which case that longer period would apply. 

  

	 	(d)	As used herein, “Good Reason” shall mean the occurrence of any of the following: (i) without the Executive’s express written consent, a material reduction
or material adverse change in the nature or scope of the Executive’s duties, authorities, titles, position or responsibilities relative to the Executive’s duties, authorities, titles, position or responsibilities in effect immediately
prior to such reduction, or the removal of the Executive from such duties, authorities, titles, position or responsibilities (in no event, however, shall the Company ceasing to be a publicly-traded corporation, in and of itself, constitute Good
Reason pursuant to this clause (i)); (ii) a reduction by the Company of the Executive’s rate of Base Salary or target level of annual incentive compensation below the minimum set forth in Section 3.2, or the termination or material
reduction of any benefit plan or program of the Company (other than a termination or reduction of any such benefit plan or program that is a termination or reduction of general applicability and does not single out the Executive); (iii) the
relocation of the principal executive offices of the Company to a location that is more than 50 miles outside of West Bridgewater, MA; (iv) 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 8; or (v) any other material breach of this Agreement by the Company; provided that Good Reason shall not exist pursuant to clause (i), (ii) or (v) above unless the Executive shall
have first provided written notice to the Company of the circumstances that would otherwise constitute Good Reason and the Company shall have failed to reasonably cure such circumstances promptly (and in no event more than 30 days after) its receipt
of such notice (provided, however, that the Executive need not give the Company the opportunity to cure conduct (or lack thereof) that is substantially similar to past conduct (or lack thereof) for which such a notice was provided within the
preceding 18-month period); further provided that any notice of termination for Good Reason must be made not later than 180 days after the circumstances giving rise to such claim of Good Reason are first known to exist (or first reasonably should
have been known to exist) by the Executive. 

  

	 	5.6	Notice of Termination. Any termination of the Executive’s employment under this Agreement shall be communicated by written notice of termination from the
terminating party to the other party. The notice of termination shall indicate the specific provision(s) of this Agreement relied upon in effecting the termination. 

  

	 	5.7	Section 280G. Notwithstanding any other provision herein, the Executive shall be covered by the provisions set forth in Exhibit D hereto, incorporated
herein by this reference. 

  

 11 

	6.	Confidential and Proprietary Information; Non-Solicitation. Concurrently with entering into this Agreement, the Executive will execute and deliver to the
Company the Confidentiality Agreement. Concurrently with entering into this Agreement, the Executive will also execute and deliver to the Company the Non-Competition Agreement attached hereto as Exhibit B (the “Non-Competition
Agreement”). 

  

	7.	Withholding Taxes. Notwithstanding anything else herein to the contrary, the Company may withhold (or cause there to be withheld, as the case may be) from any
amounts otherwise due or payable under or pursuant to this Agreement such federal, state and local income, employment, or other taxes as may be required to be withheld pursuant to any applicable law or regulation. 

  

	8.	Assignment. This Agreement is personal in its nature and neither of the parties hereto shall, without the consent of the other, assign or transfer this
Agreement or any rights or obligations hereunder; provided, however, that the Company will require any successor (whether direct or indirect) by purchase, merger, consolidation, or transfer or sale of all or substantially all of its
businesses or assets of the Company with or to any other individual(s) or entity, or otherwise, to assume, discharge and perform all of the promises, covenants, duties, and obligations of the Company hereunder. 

 This Agreement shall inure to the benefit of and be enforceable by the Executive’s personal or legal representatives, executors, administrators,
successors, heirs, distributees, devisees and legatees. If the Executive shall die while any amount would still be payable to the Executive hereunder (other than amounts which, by their terms, terminate upon the death of the Executive), all such
amounts, unless otherwise provided herein, shall be paid on the Executive’s behalf to the Executive’s executors, personal representatives or administrators of the Executive’s estate. 
  

	9.	Number and Gender. Where the context requires, the singular shall include the plural, the plural shall include the singular, and any gender shall include all
other genders. 

  

	10.	Section Headings. The section headings of, and titles of paragraphs and subparagraphs contained in, this Agreement are for the purpose of convenience only, and
they neither form a part of this Agreement nor are they to be used in the construction or interpretation thereof. 

  

	11.	Governing Law. This Agreement, and all questions relating to its validity, interpretation, performance and enforcement, as well as the legal relations hereby
created between the parties hereto, shall be governed by and construed under, and interpreted and enforced in accordance with, the laws of the State of Massachusetts, notwithstanding any Massachusetts or other conflict of law provision to the
contrary. 

  

	12.	Severability. If any provision of this Agreement or the application thereof is held invalid, the invalidity shall not affect other provisions or applications of
this Agreement which can be given effect without the invalid provisions or applications and to this end the provisions of this Agreement are declared to be severable. 

  

 12 

	13.	Entire Agreement. This Agreement, together with the Confidentiality Agreement, the Non-Competition Agreement and the Option Agreement, embodies the entire
agreement of the parties hereto respecting the matters within its scope. This Agreement supersedes all prior and contemporaneous agreements of the parties hereto that directly or indirectly bears upon the subject matter hereof. Any prior
negotiations, correspondence, agreements, proposals or understandings relating to the subject matter hereof shall be deemed to have been merged into this Agreement, and to the extent inconsistent herewith, such negotiations, correspondence,
agreements, proposals, or understandings shall be deemed to be of no force or effect. There are no representations, warranties, or agreements, whether express or implied, or oral or written, with respect to the subject matter hereof, except as
expressly set forth herein. 

  

	14.	Modifications. This Agreement may not be amended, modified or changed (in whole or in part), except by a formal, definitive written agreement expressly
referring to this Agreement, which agreement is executed by both of the parties hereto. 

  

	15.	Waiver. Neither the failure nor any delay on the part of a party to exercise any right, remedy, power or privilege under this Agreement shall operate as a
waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege preclude any other or further exercise of the same or of any right, remedy, power or privilege, nor shall any waiver of any right, remedy, power or
privilege with respect to any occurrence be construed as a waiver of such right, remedy, power or privilege with respect to any other occurrence. No waiver shall be effective unless it is in writing and is signed by the party asserted to have
granted such waiver. 

  

	16.	Arbitration. Any controversy arising out of or relating to the Executive’s employment or membership on the Board (whether or not before or after expiration
of the Period of Employment), any termination of the Executive’s employment or membership on the Board, this Agreement, the Confidentiality Agreement, the Non-Competition Agreement, the Option Agreement, the enforcement or interpretation of any
of such agreements, or because of an alleged breach, default, or misrepresentation in connection with any of the provisions of any such agreement, including (without limitation) any state or federal statutory claims, shall be submitted to
arbitration in Boston, Massachusetts before a sole arbitrator mutually agreed upon by the Executive and the Company. In the event the parties can not mutually agree upon such an arbitrator, the dispute shall be heard by a panel of three arbitrators,
one appointed by the Company, one appointed by the Executive, and the third heard by the other two arbitrators. Notwithstanding the foregoing, provisional injunctive relief may, but need not, be sought in a court of law while arbitration proceedings
are pending, and any provisional injunctive relief granted by such court shall remain effective until the matter is finally determined by the arbitrator (or arbitrators). The arbitration shall be administered by American Arbitration Association
pursuant to its Employment Arbitration Rules and Mediation Procedures. Judgment on the award may be entered in any court having jurisdiction. 

  

 13 

 The parties acknowledge and agree that they are hereby waiving any rights to trial by jury in any action,
proceeding or counterclaim brought by either of the parties against the other in connection with any matter whatsoever arising out of or in any way connected with any of the matters referenced in the first sentence of the first paragraph of this
Section 16. 
 To the extent permitted by law, the prevailing party (if a prevailing party is determined to exist by the arbitrator or
arbitrators) in any proceeding or action under this Section 16 shall be entitled, in addition to any other damages or relief awarded, to an award of reasonable legal and accounting fees, expenses and other out-of-pocket costs incurred by such
party (including any costs and fees incurred by and payable to the arbitrator (or arbitrators) and any costs incurred in enforcing any such award), not to exceed such fees incurred by the non-prevailing party regardless of whether such proceeding or
action proceeds to final judgment; provided, however, that the Company shall not be deemed a “prevailing party” for this purpose unless the arbitrator (or arbitrators) determines that the Executive did not have a reasonable good faith
belief that she would prevail as to at least one material issue presented to the arbitrator (or arbitrators). 
 Without limiting the remedies
available to the parties and notwithstanding the foregoing provisions of this Section 16, the Executive and the Company acknowledge that any breach of any of the covenants or provisions contained in the Confidentiality Agreement or in the
Non-Competition Agreement could result in irreparable injury to either of the parties hereto for which there might be no adequate remedy at law, and that, in the event of such a breach or threat thereof, the non-breaching party shall be entitled to
obtain a temporary restraining order and/or a preliminary injunction and a permanent injunction restraining the other party hereto from engaging in any activities prohibited by any covenant or provision in the Confidentiality Agreement or the
Non-Competition Agreement, as applicable, or such other equitable relief as may be required to enforce specifically any of such covenants or provisions. 
  

	17.	Insurance. The Company shall have the right at its own cost and expense to apply for and to secure in its own name, or otherwise, life, health or accident
insurance or any or all of them covering the Executive, and the Executive agrees to submit to any usual and customary medical examination and otherwise cooperate with the Company in connection with the procurement of any such insurance and any
claims thereunder. 

  

 14 

	18.	Notices. 

 All notices, requests,
demands and other communications required or permitted under this Agreement shall be in writing and shall be deemed to have been duly given and made if (i) delivered by hand, (ii) otherwise delivered against receipt therefor, or
(iii) sent by registered or certified mail, postage prepaid, return receipt requested. Any notice shall be duly addressed to the parties as follows: 
 if to the Company: 
 SeraCare Life Sciences, Inc. 
 375 West Street 
 West Bridgewater, MA 02379

 Attn: Board of Directors 
 if
to the Executive, to the address most recently on file in the payroll records of the Company. 
 Any party may alter the address to which
communications or copies are to be sent by giving notice of such change of address in conformity with the provisions of this Section 18 for the giving of notice. Any communication shall be effective when delivered by hand, when otherwise
delivered against receipt therefor, or five (5) business days after being mailed in accordance with the foregoing. 
  

	19.	Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original as against any party whose signature
appears thereon, and all of which together shall constitute one and the same instrument. This Agreement shall become binding when one or more counterparts hereof, individually or taken together, shall bear the signatures of all of the parties
reflected hereon as the signatories. Photographic copies of such signed counterparts may be used in lieu of the originals for any purpose. 

  

	20.	Legal Counsel; Mutual Drafting. Each party recognizes that this is a legally binding contract and acknowledges and agrees that they have had the
opportunity to consult with legal counsel of their choice. Each party has cooperated in the drafting, negotiation and preparation of this Agreement. Hence, in any construction to be made of this Agreement, the same shall not be construed against
either party on the basis of that party being the drafter of such language. The Executive agrees and acknowledges that she has read and understands this Agreement, is entering into it freely and voluntarily, and has been advised to seek counsel
prior to entering into this Agreement and has had ample opportunity to do so. 

 The Company agrees to reimburse the Executive
for all expenses and costs (including fees for legal counsel), incurred by her relating to advice, drafting, negotiation, and preparation of this Agreement and any related agreements, up to a maximum of Ten Thousand Dollars ($10,000.00) in the
aggregate. 
  

	21.	Code Section 409A. 

 It is
intended that any amounts payable under this Agreement and the Company’s and the Executive’s exercise of authority or discretion hereunder shall either be exempt from or comply with Section 409A of the Code (including the Treasury
regulations and other published guidance relating thereto) (“Code Section 409A”) so as not to subject the Executive to payment of any interest or additional tax imposed under Code Section 409A. To the extent that any
amount payable under this Agreement would trigger the additional tax imposed by Code Section 409A, the Agreement shall be modified to avoid such 

  

 15 

 
additional tax yet preserve (to the nearest extent reasonably possible) the intended benefit payable to the Executive. 
 Notwithstanding any provision of this Agreement to the contrary, if the Executive is a “specified employee” as defined in Code
Section 409A, and, as a result of that status, any portion of the payments under this Agreement would otherwise be subject to taxation pursuant to Code Section 409A, the Executive shall not be entitled to any payments upon a termination of
her employment until the earlier of (i) the date which is six (6) months after her termination of employment for any reason other than death, or (ii) the date of the Executive’s death; provided the first such payment thereafter
shall include all amounts that would have been paid earlier but for such six (6) month delay. At the request of the Executive, the Company shall set aside those payments that would otherwise be made in such six-month period in a trust that is
in compliance with Rev. Proc. 92-64. 
 Furthermore, with regard to any benefit to be provided upon a termination of employment, to the extent
required by Code Section 409A, the Executive shall pay the premium for such benefit during the aforesaid period and be reimbursed by the Company therefor promptly after the end of such period. 
 The provisions of this Section 21 shall only apply if, and to the extent, required to comply with Code Section 409A. 
  

	22.	Indemnification, Liability Insurance. The Company agrees to indemnify the Executive and hold the Executive harmless to the fullest extent permitted by applicable law
and under the bylaws of the Company against and in respect to any and all actions, suits, proceedings, claims, demands, judgments, costs, expenses (including reasonable attorneys’ fees), losses, and damages resulting from the Executive’s
good-faith performance of the Executive’s duties and obligations to the Company. The Company shall cover the Executive under directors and officers liability insurance both during and, while potential liability exists (but in any case not for
more than six years), after the term of this Agreement in substantially the same amount and on substantially the same terms as the Company covers its other active officers and directors. 

 [The remainder of this page has intentionally been left blank.] 
  

 16 

 IN WITNESS WHEREOF, the Company and the Executive have executed this Agreement as of the Effective
Date. 
  

			
	“COMPANY”
	
	 SeraCare Life Sciences, Inc.,
 a California corporation

		
	By:	 	 /s/ Robert Cresci

	 Name: Robert Cresci
 Title: Chairman

  

			
	
	“EXECUTIVE”
	
	/s/ Susan Vogt
	Susan Vogt

  

 17 

 EXHIBIT A 
 SERACARE LIFE SCIENCES, INC. 
 CONFIDENTIALITY AGREEMENT 
 [Attached] 

 

 
 375 West Street • Tel. (508) 580-1900 
 West Bridgewater, MA 02379 • Fax. (508) 584-2384 
 www.seracare.com 

Susan Vogt 
  

	Re:	Confidentiality Agreement (“Agreement”) 

 Dear Susan: 
 In the course of your work for SeraCare Life Sciences, Inc. or any of its affiliates
(collectively, “SeraCare Life Sciences, Inc.”), you may have access to SeraCare Life Sciences, Inc. confidential and proprietary information and/or you may create Developments (defined below). As a condition to SeraCare Life Sciences, Inc.
hiring and employing you (and for other legally sufficient consideration, the receipt and adequacy of which you acknowledge), you and SeraCare Life Sciences, Inc. agree as follows: 
 I. Definitions. The following terms are defined for purposes of this Agreement: 
 A. “Confidential Information” means any and all information that has or could have value or utility to SeraCare Life Sciences,
Inc., whether or not reduced to written or other tangible form and all copies thereof, relating to SeraCare Life Sciences, Inc. private or proprietary matters, confidential matters or trade secrets. Confidential Information includes, but is not
limited to, the following: 
  

	 	•	 	technical information (whether or not subject to patent registration or protection), such as research and development, methods, trade secrets, data and know-how, formulas,
compositions, testing protocols or test results, whether written or oral and whether technical or non-technical, as well as product sample. Processes and techniques or manufacturing information, business plans or projections, customer lists,
agreements, discoveries, machines, inventions, ideas, computer programs (including software and data used in all such programs), drawings, specifications; 

  

	 	•	 	except to the extent publicly disclosed by SeraCare Life Sciences, Inc. without any fault by you or any other person or entity, information relating to SeraCare Life Sciences, Inc.
patents, patent applications, and patent disclosures, together with all reissuances, continuations, continuations-in-part, revisions, extensions, and reexaminations thereof, and all improvements and inventions related thereto;

  

	 	•	 	business information, such as information concerning any products, customers, suppliers, production, developments, costs, purchasing, pricing, profits, markets, sales, accounts,
customers, financing, acquisitions, strategic alliances or collaborations, expansions; and 

  

	 	•	 	other information relating to SeraCare Life Sciences, Inc. business practices, strategies or policies. 

  

 A-1 

 B. “Competitive Business” means engaging in the research, development, sale,
lease, marketing, financing or distribution of technology, products or services similar to or competitive with SeraCare Life Sciences, Inc. actual or proposed products or services anywhere in the world. 
 C. “Development” means any invention, discovery, improvement, know-how, method, technique, work, copyrightable work or other
intellectual property (whether or not patentable or subject to registration with any governmental office) you conceive, reduce to practice, discover or make, alone or with others, that either (i) is directly related to the business or
demonstrably anticipated business of SeraCare Life Sciences, Inc. (ii) includes, or is a product or extension of, any Confidential Information, or (iii) results from duties assigned to you by SeraCare Life Sciences, Inc. or from the use of
any of SeraCare Life Sciences, Inc. assets or facilities. 
 D. “Restricted Period” means a period (i) starting
when you begin working for SeraCare Life Sciences, Inc. and (ii) ending on the earlier of (A) twelve (12) months after termination of your employment (regardless of the reason for termination), or (B) if you work less than
a total of 12 months, that number of months after termination of your employment which equals the total number of months you worked for SeraCare Life Sciences, Inc. (for example, if you work for SeraCare Life Sciences, Inc. for a total of six
months, the Restricted Period will end six months after your employment terminates), or (C) the longest period (if any) permitted by applicable law after termination of your employment which is less than 12 months. 
 II. Confidential Information. 
 During your employment by SeraCare Life Sciences, Inc. and at all times thereafter, you will hold in trust, keep confidential and not disclose, directly or indirectly, to any third parties or make any use of Confidential Information for any
purpose except for the benefit of SeraCare Life Sciences, Inc. in the performance of your employment duties. Confidential Information will not be subject to these restrictions if it becomes generally known to the public or in the industry without
any fault by you or any other person or entity, or if SeraCare Life Sciences, Inc. ceases to have a legally protectable interest in it. If you are required by valid subpoena or similar legal requirement to disclose Confidential Information, you will
promptly notify SeraCare Life Sciences, Inc. in writing and cooperate with SeraCare Life Sciences, Inc. efforts to obtain a protective order or similar relief, and you will only disclose the minimum amount of Confidential Information necessary. Upon
termination of your employment (regardless of the reason for termination), you will immediately return to SeraCare Life Sciences, Inc. all tangible Confidential Information and any other material made or derived from Confidential Information,
including information stored in electronic format and handwritten notes, which is in your possession or which you delivered to others. 
 III. Developments. You agree to promptly and fully disclose in writing to SeraCare Life Sciences, Inc.’s President (or, if you are then the President, the General Counsel, or in the absence of a General Counsel, the Chief
Financial Officer, in either case with a copy to the Chairman of the Board of Directors of SeraCare Life Science, Inc.) any Development that you make during the Restricted Period when created or developed. You hereby assign and transfer to SeraCare
Life Sciences, Inc. all of your right, title and interest in and to any Developments that 

  

 A-2 

 
you make during your employment, including all patents, patent applications and related patent rights. You agree to sign and deliver to SeraCare Life
Sciences, Inc. (during and after employment) other documents SeraCare Life Sciences, Inc. considers necessary or desirable to evidence its ownership of Developments that you make during your employment. All copyrightable works that are Developments
that you make during your employment, whether or not works made for hire (as defined in 17 U.S.C. §141), shall be owned by SeraCare Life Sciences, Inc. and it may file and own the same as the author throughout the world. If SeraCare Life
Sciences, Inc. is unable for any reason to secure your signature on any document necessary or desirable to apply for, prosecute, obtain, or enforce any patent, trademark, service mark, copyright, or other right or protection relating to any
Development that you make during your employment, you hereby irrevocably designate and appoint SeraCare Life Sciences, Inc. and each of its duly authorized officers and agents, as your agent and attorney-in-fact to act for and in your behalf and
stead to execute and file any such document and to do all other lawfully permitted acts to further the prosecution, issuance, and enforcement of patents, trademarks, service marks, copyrights, or other rights or protections with the same force and
effect as if personally executed and delivered by you. You agree that this power of attorney is irrevocable and is coupled with an interest and thereby survives your death or disability. It shall be presumed that any Development that you register,
file, make an application for, or otherwise claim with any governmental agency during the Restricted Period was made by you during your employment. 
 IV. California Goggin Act. You acknowledge that you have read the California Goggin Act attached hereto and understand that under its provisions you may retain ownership of inventions that you may make entirely on your own time and
in a manner not described in Section II above. You agree, however, to disclose to SeraCare Life Sciences, Inc. all inventions that you conceive during your employment, including any invention which you desire to retain as your own property, so that
SeraCare Life Sciences, Inc. may determine if such invention qualifies under the law for retention as your property. SeraCare Life Sciences, Inc. will treat any such disclosed information as confidential unless such information (1) was
previously known to SeraCare Life Sciences, Inc., (2) is disclosed in patents or other publications, (3) has been imparted to SeraCare Life Sciences, Inc. by third parties, or (4) is well known to the trade to which it relates. You
understand that this Section applies even if you work outside of California. 
 V. Non-Solicitation. You acknowledge that you may have
access to a significant amount of highly sensitive and valuable Confidential Information, you may be involved in formulating SeraCare Life Sciences, Inc. business strategies or in its research and development activities, and you may be involved in
important aspects of relationships with employees, consultants, suppliers, customers and others and you will be expected to promote SeraCare Life Sciences, Inc. business and goodwill. You also acknowledge that SeraCare Life Sciences, Inc. business
is international in scope and that SeraCare Life Sciences, Inc. employees and customers in any location can be solicited and serviced from any other location in the world. You therefore agree that during the Restricted Period, you will not, directly
or indirectly through any other person or entity: 
  

	 	•	 	solicit any other person or entity who is a customer of SeraCare Life Sciences, Inc. and whose name, identity, or business habits are trade secrets to engage in any Competitive
Business or to curtail or cease any business or business relationship with SeraCare Life Sciences, Inc. or its employees or independent contractors; 

  

 A-3 

	 	•	 	solicit any other employee or independent contractor to terminate any employment or engagement with SeraCare Life Sciences, Inc. and engage in a Competitive Business; or

  

	 	•	 	disparage SeraCrae Life Sciences, Inc., its employees, independent contractors or their services or products. 

 VI. No Conflicts. You represent and warrant to, and agree with SeraCare Life Sciences, Inc. that: 
 A. You have set forth in a separate list attached to this Agreement as Schedule A-1 an accurate and complete list of all confidential,
proprietary or trade secret information (including invention disclosures and patent applications), including a brief description thereof (without revealing any confidential or proprietary information of any other party), which you made or conceived
prior to your employment with SeraCare Life Sciences, Inc. and for which you claim ownership or which is in the physical possession of a former employer or other person or entity and which are therefore excluded from the scope of this Agreement. If
there are no such exclusions, you have so indicated by writing “none.” 
 B. Neither you nor any third party has any
ownership or other interest in any idea, invention or other item of intellectual property that will be used in performing your duties for SeraCare Life Sciences, Inc. and all Developments made during your employment will be free and clear of
any encumbrances or claims of third parties. In performing your duties for SeraCare Life Sciences, Inc. you will not disclose to SeraCare Life Sciences, Inc. or use any confidential or proprietary information or trade secret of any third party, and
you will not interfere with the business of any third party in any way contrary to applicable law. 
 VII. No Employment Rights.
Nothing in this Agreement shall affect your or SeraCare Life Sciences, Inc. right to terminate your employment or SeraCare Life Sciences, Inc. right modify the terms of your employment, nor will this Agreement confer on you any other rights or
benefits in connection with your employment. 
 VIII. Remedies and Conflict Resolution. 
 A. The parties to this Agreement agree that (i) if you materially breach this Agreement, the damage to SeraCare Life Sciences, Inc.
may be substantial, although difficult to ascertain, and money damages will not afford SeraCare Life Sciences, Inc. an adequate remedy, and (ii) if you are in breach of any provision of this Agreement, or threaten a breach of this Agreement,
SeraCare Life Sciences, Inc. shall be entitled, in addition to all other rights and remedies as may be provided by law, this Agreement, the Employment Agreement being entered into by and between you and SeraCare Life Sciences, Inc. in connection
with this Agreement (the “Employment Agreement”), or otherwise, to seek and obtain provisional relief from a court in accordance with Section VIII.B hereof, and an arbitral order requiring specific performance and permanent injunctive and
other equitable relief to prevent or restrain a breach of any 

  

 A-4 

 
provision of this Agreement. You further agree that the SeraCare Life Sciences, Inc. shall not be required to obtain, furnish, secure or post any bond or
similar instrument in connection with or as a condition to obtaining any remedy referred to in this Section VIII, and you irrevocably waive any right you may have to require SeraCare Life Sciences, Inc. to obtain, furnish, secure or post any such
bond or similar instrument. 
 B. All claims for damages for a breach of this Agreement shall be submitted to arbitration in
accordance with the terms and conditions of Section 16 of the Employment Agreement. To the extent injunctive or other equitable relief is not available pursuant to Section 16 of the Employment Agreement or is not available pursuant to
Section 16 of the Employment Agreement in a sufficiently timely manner (in the seeking party’s good faith judgment) to preclude the risk of irreparable damage and to prevent any remedy from being rendered ineffectual pending the
arbitration, either party may seek such relief, including provisional relief in the form of a temporary restraining order or preliminary injunction, exclusively in a state or federal court of competent jurisdiction in the Commonwealth of
Massachusetts. 
 To the extent permitted by law, the prevailing party (if a prevailing party is determined to exist by the arbitrator or
arbitrators) in any proceeding or action under this Section VIII shall be entitled, in addition to any other damages or relief awarded, to an award of reasonable legal and accounting fees, expenses and other out-of-pocket costs incurred by such
party (including any costs and fees incurred by and payable to the arbitrator (or arbitrators) and any costs incurred in enforcing any such award), not to exceed such fees incurred by the non-prevailing party regardless of whether such proceeding or
action proceeds to final judgment; provided, however, that SeraCare Life Science, Inc. shall not be deemed a “prevailing party” for this purpose unless the arbitrator (or arbitrators) determines that you did not have a reasonable good
faith belief that you would prevail as to at least one material issue presented to the arbitrator (or arbitrators). 
 IN ANY
ACTION OR PROCEEDING ARISING HEREFROM, THE PARTIES HERETO CONSENT TO TRIAL WITHOUT A JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY ANY PARTY HERETO OR ITS SUCCESSORS AGAINST ANY OTHER PARTY HERETO OR ITS SUCCESSORS IN RESPECT OF ANY
MATTER ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT, REGARDLESS OF THE FORM OF ACTION OR PROCEEDING. 
 YOU REPRESENT
AND AGREE THAT YOU HAVE READ AND UNDERSTAND THIS SECTION VIII.B, WHICH DISCUSSES ARBITRATION. YOU UNDERSTAND THAT BY SIGNING THIS AGREEMENT, YOU AGREE TO SUBMIT ANY CLAIMS ARISING OUT OF, RELATING TO, OR IN CONNECTION WITH THIS AGREEMENT, OR THE
INTERPRETATION, VALIDITY, CONSTRUCTION, PERFORMANCE, BREACH OR TERMINATION THEREOF TO CONFIDENTIAL BINDING ARBITRATION, AND THAT THIS ARBITRATION CLAUSE CONSTITUTES A WAIVER OF YOUR RIGHT TO A JURY TRIAL. 
  

 A-5 

 IX. Miscellaneous. 
 A. This Agreement contains the entire agreement of the parties with respect to the subject matter hereof and supersedes all prior
agreements, written or oral, with respect thereto (except for the Employment Agreement and that certain Non-Competition Agreement referred to in and contemplated by such Employment Agreement). This Agreement may be amended or modified and the terms
and conditions hereof may be waived, only by a written instrument signed by each of the parties or, in the case of waiver, by the party waiving compliance. No delay on the part of either party in exercising any right, power or privilege hereunder
shall operate as a waiver thereof, nor shall any waiver on the part of either party of any right, power or privilege hereunder, nor any single or partial exercise of any right, power or privilege hereunder, preclude any other or further exercise
thereof or the exercise of any other right, power or privilege hereunder. The rights and remedies provided herein are cumulative and are not exclusive of any rights or remedies that either party may otherwise have at law or in equity. Any waiver of
any breach of or failure to enforce any of the provisions of this Agreement shall not operate as a waiver of any other breach or waiver of performance of such provisions or any other provisions. Your obligations under this Agreement survive
termination of your employment, regardless of the manner or reason for termination. During, and upon termination of your employment (regardless of the reason therefore), you will certify to SeraCare Life Sciences, Inc. in writing that you have fully
complied with each provision of this Agreement and that you will continue to comply with all provisions herein that survive termination. 
 B. You represent and warrant that this Agreement is a legal, valid and binding obligation, enforceable against you in accordance with its terms to the fullest extent permitted under applicable federal, state or local
law. 
 C. All notices, requests and other communications hereunder must be in writing and will be deemed to have been duly
given only if delivered in accordance with the terms of Section 18 of the Employment Agreement. 
 D. This Agreement
shall be governed by and construed in accordance with the internal laws of the Commonwealth of Massachusetts without giving effect to any choice of law or conflict of law provision or rule (whether of the Commonwealth of Massachusetts or any other
jurisdiction) that would cause the application of the laws of any jurisdiction other than the Commonwealth of Massachusetts. 
 E. To the extent any provision of this Agreement shall be determined to be unlawful or otherwise unenforceable, in whole or in part, such determination shall not affect the validity of the remainder of this Agreement, and this Agreement
shall be reformed to the extent necessary to carry out its provisions to the greatest extent possible. In the absence of such reformation, such part of such provision shall be considered deleted from this Agreement and the remainder of such
provision and of this Agreement shall be unaffected and shall continue in full force and effect. In furtherance and not in limitation of the foregoing, should the duration or geographical extent of, or business activities covered by any provision of
this Agreement be in excess of that which is valid and enforceable under applicable law, then such provision shall be construed to cover only that duration, extent or activities which may validly and enforceability be covered. To the extent any
provision of this Agreement shall be declared invalid or 

  

 A-6 

 
unenforceable for any reason by any court, arbitrator or governmental or regulatory authority in any jurisdiction, this Agreement (or provision thereof)
shall remain valid and enforceable in each other jurisdiction where it applies. You agree that the time period, geographic scope and other terms of the covenants and restrictions in this Agreement are reasonable and appropriate under the
circumstances of SeraCare Life Sciences, Inc. business. 
 F. This Agreement shall be binding upon and inure to the benefit of
the parties hereto, the heirs and legal representatives of you and the successors and assigns of SeraCare Life Sciences, Inc. You shall not be entitled to assign your obligations hereunder. SeraCare Life Sciences, Inc. may assign its rights under
this Agreement to any person or business entity (including, without limitation, successors and assigns of SeraCare Life Sciences, Inc.). You agree that, upon request therefor, you will, in writing, acknowledge and consent to any such assignment of
this Agreement. 
 G. You represent and warrant that you have carefully read this Agreement; that you execute this Agreement
with full knowledge of the contents of this Agreement, the legal consequences thereof, and any and all rights which each party may have with respect to one another; that you have had the opportunity to receive independent legal advice with respect
to the matters set forth in this Agreement and with respect to the rights and asserted rights arising out of such matters; that you have been advised to, and have had the opportunity to, consult with your personal attorney prior to entering into
this Agreement; and that you are entering into this Agreement of your own free will. You expressly agree that you have no expectations or understandings contrary to this Agreement and no usage of trade or regular practice in the industry shall be
used to modify this Agreement. The parties agree that this Agreement shall not be construed for or against either party in any interpretation thereof. 
 Please indicate your agreement to the foregoing by signing a copy of this letter below and returning it to me. I look forward to working with you. 
  

	
	 Very truly yours,

	
	 /s/ Robert Cresci

	 Robert Cresci, Chairman

 Accepted and Agreed to as of Date: July 14, 2006 
  

			
		
	By:	 	 /s/ Susan Vogt

		 	 Susan Vogt

 (Please be sure to complete, sign & date the attached 
 Schedule A-1 writing “NONE” if applicable) 
  

 A-7 

 SCHEDULE A-1 
 EMPLOYEE’S INTELLECTUAL PROPERTY EXCLUDED FROM THIS AGREEMENT 
 Describe:     NONE

 (If none, write “none” above.) 
  

			
		
	By:	 	 /s/ Susan Vogt

		 	 Susan Vogt

 Date: July 14, 2006 
  

 A-8 

 THE GOGGIN ACT 
 Sections 2870, 2871 and 2872 of the California Labor Code 
 2870. (a) Any provision in an employment
agreement which provides that an employee shall assign, or offer to assign, any of his or her rights in any invention to his or her employer shall not apply to an invention that the employee developed entirely on his or her own time without using
the employer’s equipment, supplies, facilities, or trade secret information except for those inventions that either: (1) Relate at the time of conception or reduction to practice of the invention to the employer’s business, or actual
or demonstrably anticipated research or development of the employer; or (2) Result from any work performed by the employee for the employer; (b) To the extent a provision in an employment agreement purports to require an employee to assign
an invention otherwise excluded from being required to be assigned under subdivision (a), the provision is against the public policy of this state and is unenforceable. 
 2871. No employer shall require a provision made void and unenforceable by Section 2870 as a condition of employment or continued employment. Nothing in this article shall be construed to forbid or restrict the
right of an employer to provide in contracts of employment for disclosure, provided that any such disclosures be received in confidence, of all of the employee’s inventions made solely or jointly with others during the term of his or her
employment, a review process by the employer to determine such issues as may arise, and for full title to certain patents and inventions to be in the United States, as required by contracts between the employer and the United States or any of its
agencies. 
 2872. If an employment agreement entered into after January 1, 1980, contains a provision requiring the employee to assign
or offer to assign any of his or her rights in any invention to his or her employer, the employer must also, at the time the agreement is made, provide a written notification to the employee that the agreement does not apply to an invention which
qualifies fully under the provisions of Section 2870. In any suit or action arising thereunder, the burden of proof shall be on the employee claiming the benefits of its provisions.” 
  

 A-9 

 EXHIBIT B 
 NON-COMPETITION AGREEMENT 
 This Non-Competition Agreement (this “Agreement”) is
entered into, as of July 14, 2006, by and among SeraCare Life Sciences, Inc., a California corporation (the “Company”), and Susan Vogt (“Executive”). 
 RECITALS 
 A. The Company is engaged in the business of manufacturing, marketing
distributing, and selling to diagnostic, therapeutic, drug discovery, and research organizations biological products and services, including but not limited to plasma-based therapeutic products, diagnostic products and reagents, cell culture
products, specialty plasmas, in vitro stabilizers, and the SeraCare BioBankTM, which is a proprietary database of medical information and associated blood, plasma, DNA and RNA samples (such business, being collectively referred to herein as the
“Business”). 
 B. The parties acknowledge that the relevant market for the Business is worldwide in scope and that there
exists worldwide competition for the products and services of the Business. 
 C. The Company desires to employ Executive, and Executive
desires to accept such employment, as President and Chief Executive Officer based on the terms and conditions of the Employment Agreement being executed concurrently with this Agreement (the “Employment Agreement”). 
 D. Executive acknowledges that by virtue of her position with the Company, she will have special influence over and access to the Company’s
customers, employees, and consultants, will develop and have access to significant and unique contacts in the Business, and will develop and have access to the Company’s Confidential Information and Inventions (as such terms are defined in the
Confidentiality Agreement entered in connection with Section 6 of the Employment Agreement). 
 E. As a material condition to the
Company entering into the Employment Agreement, and to protect the Company’s good will, customer relationships, Confidential Information, and stable workforce, Executive has agreed to the terms and conditions of this Agreement. 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements hereinafter set forth, the Company and Executive, intending to
be legally bound, hereby agree as follows: 
  

 B-1 

 I. 
 NON-COMPETITION 
 1.1 Non-Competition. Executive agrees that during the term of her employment with the Company and for a
period of one (1) year thereafter (such period, the “Non-Competition Period”): 
 (a) Executive shall
not, anywhere outside of the United States, directly or indirectly, engage, without the express prior written consent of the Company, in any business or activity in direct or indirect competition with the Business, whether as an employee,
consultant, partner, principal, agent, representative, equity holder or in any other individual, corporate or representative capacity (without limitation by specific enumeration of the foregoing), or render any services or provide any advice to any
business, activity or person in direct or indirect competition (or seeking or contemplating to compete, directly or indirectly) with the Business (a “Competing Business”). 
 (b) Executive shall not, anywhere in the United States, directly or indirectly, engage, without the express prior written consent of the
Company, in any business or activity in direct or indirect competition with the Business, whether as an employee, consultant, partner, principal, agent, representative, equity holder or in any other individual, corporate or representative capacity
(without limitation by specific enumeration of the foregoing), or render any services or provide any advice to any Competing Business. 
 (c) Executive shall not, anywhere in the Commonwealth of Massachusetts or the state of Maryland, directly or indirectly, engage, without the express prior written consent of the Company, in any business or activity in
direct or indirect competition with the Business, whether as an employee, consultant, partner, principal, agent, representative, equity holder or in any other individual, corporate or representative capacity (without limitation by specific
enumeration of the foregoing), or render any services or provide any advice to any Competing Business. 
 1.2 Public Securities.
Notwithstanding the foregoing, Executive may own, directly or indirectly, up to one percent (1%) of any class of “publicly traded securities” of any Person, which owns or operates a business that is a Competing Business. For the
purposes of this Section 1.2, “publicly traded securities” shall mean securities that are traded on a national securities exchange or listed on the Nasdaq Global Market. 
 1.3 No Interference with the Business; Non-Solicitation. Executive agrees that during the Non-Competition Period, at any time or for any reason,
Executive shall not, directly or indirectly: (a) solicit or divert, or attempt to solicit or divert, any business or clients or customers of the Company and/or any of its subsidiaries or affiliates (“Affiliates”); (b) induce or
attempt to induce customers, clients, suppliers, agents or other persons or business entities under contract or otherwise associated or doing business with the Company and/or its Affiliates, to reduce or alter any such association or business with
the Company and/or its Affiliates; (c) solicit or attempt to solicit any employee or consultant of the Company to (i) terminate such employment or consulting engagement with the Company and/or its Affiliates, and/or (ii) accept
employment, or 

  

 B-2 

 
enter into any consulting arrangement, with any person or business entity other than the Company and/or its Affiliates; or (d) condemn, criticize,
ridicule or otherwise disparage or put in disrepute the Company or its Affiliates (including but not limited to their products, services, directors, officers, agents or employees), in any way, whether orally or in writing; provided, however, that
Executive may provide truthful testimony in any legal, administrative, governmental or regulatory proceeding and may likewise respond truthfully to a lawfully-issued subpoena, court order, government or regulatory inquiry. 
 II. 
 REMEDIES AND CONFLICT RESOLUTION

 2.1 Remedies. The parties to this Agreement agree that (i) if Executive materially breaches Article 1 of this
Agreement, the damage to the Company may be substantial, although difficult to ascertain, and money damages will not afford the Company an adequate remedy, and (ii) if Executive is in breach of any provision of this Agreement, or threatens a
breach of this Agreement, the Company shall be entitled, in addition to all other rights and remedies as may be provided by law, this Agreement, the Employment Agreement, or otherwise, to seek and obtain provisional relief from a court in accordance
with Section 2.2 hereof, and an arbitral order requiring specific performance and permanent injunctive and other equitable relief to prevent or restrain a breach of any provision of this Agreement, including but not limited to an order
extending the Non-Competition Period by the same period of time that Executive is breach of terms of Article 1 of this Agreement. Executive further agrees that the Company shall not be required to obtain, furnish, secure or post any bond or
similar instrument in connection with or as a condition to obtaining any remedy referred to in this Article 2, and Executive irrevocably waives any right that Executive may have to require the Company to obtain, furnish, secure or post any
such bond or similar instrument. 
 2.2 All claims for damages for a breach of this Agreement shall be submitted to arbitration in accordance
with the terms and conditions of Section 16 of the Employment Agreement. To the extent injunctive or other equitable relief is not available pursuant to Section 16 of the Employment Agreement or is not available pursuant to Section 16
of the Employment Agreement in a sufficiently timely manner (in the seeking party’s good faith judgment) to preclude the risk of irreparable damage and to prevent any remedy from being rendered ineffectual pending the arbitration, either party
may seek such relief, including provisional relief in the form of a temporary restraining order or preliminary injunction, exclusively in a state or federal court of competent jurisdiction in the Commonwealth of Massachusetts. 
 (a) To the extent permitted by law, the prevailing party (if a prevailing party is determined to exist by the arbitrator) in any
proceeding or action under this Section 2.2 shall be entitled, in addition to any other damages or relief awarded, to an award of reasonable legal and accounting fees, expenses and other out-of-pocket costs incurred by such party
(including any costs and fees incurred by and payable to the arbitrator and any costs incurred in enforcing any such award), not to exceed such fees incurred by the non-prevailing party regardless of whether such proceeding or action proceeds to
final judgment; provided, however, that the Company shall not be deemed a “prevailing party” for this purpose unless the arbitrator 

  

 B-3 

 
determines that the Executive did not have a reasonable good faith belief that the Executive would prevail as to at least one material issue presented to the
arbitrator. 
 (b) Waiver of Trial by Jury. IN ANY ACTION OR PROCEEDING ARISING HEREFROM, THE PARTIES HERETO CONSENT TO
TRIAL WITHOUT A JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY ANY PARTY HERETO OR ITS SUCCESSORS AGAINST ANY OTHER PARTY HERETO OR ITS SUCCESSORS IN RESPECT OF ANY MATTER ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT, REGARDLESS OF
THE FORM OF ACTION OR PROCEEDING. 
 2.3 Acknowledgment. EXECUTIVE HAS READ AND UNDERSTANDS SECTION 2.2 OF THIS AGREEMENT,
WHICH DISCUSSES ARBITRATION. EXECUTIVE UNDERSTANDS THAT BY SIGNING THIS NON-COMPETITION AGREEMENT, EXECUTIVE AGREES TO SUBMIT ANY CLAIMS ARISING OUT OF, RELATING TO, OR IN CONNECTION WITH THIS NON-COMPETITION AGREEMENT, OR THE INTERPRETATION,
VALIDITY, CONSTRUCTION, PERFORMANCE, BREACH OR TERMINATION THEREOF TO CONFIDENTIAL BINDING ARBITRATION, AND THAT THIS ARBITRATION CLAUSE CONSTITUTES A WAIVER OF EXECUTIVE’S RIGHT TO A JURY TRIAL. 
 III. 
 MISCELLANEOUS 
 3.1 Entire Agreement; Amendments and Waivers; Several Agreements. This Agreement contains the entire agreement of the parties with respect to the
subject matter hereof and supersedes all prior agreements, written or oral, with respect thereto (except for the Employment Agreement entered into by and between the parties in connection with this Agreement and that certain Confidentiality
Agreement referred to in and contemplated by such Employment Agreement). This Agreement may be amended or modified and the terms and conditions hereof may be waived, only by a written instrument signed by each of the parties or, in the case of
waiver, by the party waiving compliance. No delay on the part of either party in exercising any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any waiver on the part of either party of any right, power or privilege
hereunder, nor any single or partial exercise of any right, power or privilege hereunder, preclude any other or further exercise thereof or the exercise of any other right, power or privilege hereunder. The rights and remedies provided herein are
cumulative and are not exclusive of any rights or remedies that either party may otherwise have at law or in equity. 
 3.2
Representations and Warranties. Executive represents and warrants that this Agreement is a legal, valid and binding obligation, enforceable against Executive in accordance with its terms to the fullest extent permitted under applicable
federal, state or local law. 
 3.3 Notices. All notices, requests and other communications hereunder must be in writing and will be
deemed to have been duly given only if delivered in accordance with the terms of Section 18 of the Employment Agreement. 
  

 B-4 

 3.4 Governing Law. This Agreement shall be governed by and construed in accordance with the
internal laws of the Commonwealth of Massachusetts without giving effect to any choice of law or conflict of law provision or rule (whether of the Commonwealth of Massachusetts or any other jurisdiction) that would cause the application of the laws
of any jurisdiction other than the Commonwealth of Massachusetts. 
 3.5 Severability. To the extent any provision of this Agreement,
including without limitation the provisions set forth in Article 1 or Article 2 hereof, shall be determined to be unlawful or otherwise unenforceable, in whole or in part, such determination shall not affect the validity of the
remainder of this Agreement, and this Agreement shall be reformed to the extent necessary to carry out its provisions to the greatest extent possible. In the absence of such reformation, such part of such provision shall be considered deleted from
this Agreement and the remainder of such provision and of this Agreement shall be unaffected and shall continue in full force and effect. In furtherance and not in limitation of the foregoing, should the duration or geographical extent of, or
business activities covered by any provision of this Agreement be in excess of, that which is valid and enforceable under applicable law, then such provision shall be construed to cover only that duration, extent or activities which may validly and
enforceability be covered. To the extent any provision of this Agreement shall be declared invalid or unenforceable for any reason by any court, arbitrator or governmental or regulatory authority in any jurisdiction, this Agreement (or provision
thereof) shall remain valid and enforceable in each other jurisdiction where it applies. 
 3.6 Successors and Assigns. This Agreement
shall be binding upon and inure to the benefit of the parties hereto, the heirs and legal representatives of Executive and the successors and assigns of the Company. Executive shall not be entitled to assign her obligations hereunder. The Company
may assign its rights under this Agreement to any person or business entity (including, without limitation, successors and assigns of the Company). Executive agrees that, upon request therefor, she will, in writing, acknowledge and consent to any
such assignment of this Agreement. 
 3.7 Defined Terms. Capitalized terms used herein and not defined shall have the respective
meanings ascribed to them in the Employment Agreement unless otherwise expressly indicated. 
 3.8 Independent Review and Advice.
Executive represents and warrants that Executive has carefully read this Agreement; that Executive executes this Agreement with full knowledge of the contents of this Agreement, the legal consequences thereof, and any and all rights which each party
may have with respect to one another; that Executive has had the opportunity to receive independent legal advice with respect to the matters set forth in this Agreement and with respect to the rights and asserted rights arising out of such matters;
that Executive has been advised to, and has had the opportunity to, consult with Executive’s personal attorney prior to entering into this Agreement; and that Executive is entering into this Agreement of Executive’s own free will.
Executive expressly agrees that she has no expectations or understandings contrary to the Agreement and no usage of trade or regular practice in the industry shall be used to modify this Agreement. The parties agree that this Agreement shall not be
construed for or against either party in any interpretation thereof. 
  

 B-5 

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

					
	SERACARE LIFE SCIENCES, INC.	 		 	EXECUTIVE
			
	 /s/ Bob Cresci
	 		 	 /s/ Susan Vogt

	 Bob Cresci, Chairman
	 		 	 Susan Vogt

  

					
		 		 	 Address

			
		 		 	 1 Wildwood Street

		 		 	 Winchester, MA 01890

			
	 	 		 	   
		 		 	 Facsimile Number

  

 B-6 

 EXHIBIT C 
 SERACARE LIFE SCIENCES, INC. 
 NONQUALIFIED STOCK OPTION AGREEMENT 
 [Attached] 

 SERACARE LIFE SCIENCES, INC. 
 NONQUALIFIED STOCK OPTION AGREEMENT 
 THIS NONQUALIFIED STOCK OPTION
AGREEMENT (this “Option Agreement”) by and between SeraCare Life Sciences, Inc., a California corporation (the “Corporation”), and Susan Vogt (the “Participant”) evidences the nonqualified stock
option (the “Option”) granted by the Corporation to the Participant as to the number of shares of the Corporation’s common stock, no par value (the “Common Stock”), first set forth below. 
  

					
	Number of Shares of Common Stock:1	  	450,000	  	Award Date: _______ __, 2006
			
	Exercise Price per Share:1	  	$______	  	Expiration Date:1,2 _______ ___, 2016

 Vesting1,2 One-third of the total number of shares subject to the Option shall vest on each of the first, second and third anniversaries of the Award Date. 
 The Option is subject to the Terms and Conditions of Option (the “Terms”) attached to this Option Agreement (incorporated herein by this
reference). The Option has been granted to the Participant in addition to, and not in lieu of, any other form of compensation otherwise payable or to be paid to the Participant. The Option is not and shall not be deemed to be an incentive stock
option within the meaning of Section 422 of the U.S. Internal Revenue Code of 1986, as amended (the “Code”). The parties agree to the terms of the Option set forth herein, and the Participant acknowledges receipt of a copy of
the Terms. 
  

									
	“PARTICIPANT”	 		 	 “SERACARE LIFE SCIENCES, INC.”
 (a California corporation)

					
	  	 	  	 		 		 	
	Signature	 		 		 	
					
	  	 	  	 		 	 By: 
	 	  
	Print Name	 		 		 	
					
	  	 	  	 		 	 Its:
	 	  
	Address	 		 		 	
					
	  	 	  	 		 		 	
	City, State, Zip Code	 		 		 	

  

	1	Subject to adjustment under Section 4.1 of the Terms. 

  

	2	Subject to early termination under Section 4.2 or 4.3 of the Terms. 

 TERMS AND CONDITIONS OF OPTION 
  

	1.	Vesting; Limits on Exercise. 

 As set forth
on the cover page of the Option Agreement, the Option shall vest and become exercisable in percentage installments of the aggregate number of shares of Common Stock subject to the Option. The Option may be exercised only to the extent the Option is
vested and exercisable. 
  

	 	•	 	Cumulative Exercisability. To the extent that the Option is vested and exercisable, the Participant has the right to exercise the Option (to the extent not previously
exercised), and such right shall continue, until the expiration or earlier termination of the Option. 

  

	 	•	 	No Fractional Shares. Fractional share interests shall be disregarded, but may be cumulated. 

  

	 	•	 	Minimum Exercise. No fewer than 1001
shares of Common Stock may be purchased at any one time, unless the number purchased is the total number at the time exercisable under the Option. 

  

	2.	Continuance of Employment Required; No Employment Commitment. 

 Except as otherwise provided herein, the vesting schedule requires continued service through each applicable vesting date as a condition to the vesting of the applicable installment of the Option and the rights and
benefits under this Option Agreement. Partial service, even if substantial, during any vesting period will not entitle the Participant to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a
termination of employment or services as provided in Section 4.3 below. 
 Nothing contained in this Option Agreement constitutes an
employment commitment by the Corporation, confers upon the Participant any right to remain employed by the Corporation or any Subsidiary (as defined below), interferes in any way with the right of the Corporation or any Subsidiary at any time to
terminate such employment, or affects the right of the Corporation or any Subsidiary to increase or decrease the Participant’s other compensation. 
 For purposes of this Option Agreement, “Subsidiary” means any corporation or other entity a majority of whose outstanding voting stock or voting power is beneficially owned directly or indirectly by
the Corporation. 
  

	3.	Exercise of Option. 

 3.1. Method of
Exercise. The Option shall be exercisable by the delivery to the Secretary of the Corporation of a written notice stating the number of shares of Common Stock to be purchased pursuant to the Option and accompanied by: 
  

	 	•	 	delivery of an executed Exercise Agreement in substantially the form attached hereto as Exhibit A or such other form as from time to time may be required by the Corporation (the
“Exercise Agreement”); 

  

 1 

	 	•	 	payment in full for the Exercise Price of the shares to be purchased in one of the forms set forth under Section 3.2; 

  

	 	•	 	satisfaction of the tax withholding provisions of Section 3.3 below; and 

  

	 	•	 	any written statements or agreements required pursuant to Section 3.4 below. 

 3.2. Payment of Exercise Price. The Exercise Price of the shares to be purchased will be paid in full at the time of each purchase in one or a combination of the following methods: 
  

	 	•	 	in cash or by electronic funds transfer; 

  

	 	•	 	by check payable to the order of the Corporation; 

  

	 	•	 	if authorized by the Corporation, by a cashless exercise pursuant to such rules as the Corporation may adopt; 

  

	 	•	 	by notice and third party payment in such manner as may be authorized by the Corporation; 

  

	 	•	 	subject to the proviso below and the approval of the Corporation’s Board of Directors (the “Board”) at the time, by the delivery of shares of Common Stock
already owned by the Participant, provided that any shares of Common Stock delivered that were initially acquired from the Corporation upon exercise of a stock option must have been owned by the Participant at least six (6) months as of the
date of delivery. 

 Shares of Common Stock used to satisfy the Exercise Price will be valued at their Fair Market Value on the date of
exercise. “Fair Market Value” on any date means: 
  

	 	(a)	if the stock is listed or admitted to trade on a national securities exchange, the closing price of the stock on the Composite Tape, as published in the Western Edition of The Wall
Street Journal, of the principal national securities exchange on which the stock is so listed or admitted to trade, on such date, or, if there is no trading of the stock on such date (or if the market has not closed at the applicable time), then the
closing price of the stock as quoted on such Composite Tape on the next preceding date on which there was trading in such shares; 

  

	 	(b)	if the stock is not listed or admitted to trade on a national securities exchange, the last price for the stock, as furnished by the National Association of Securities Dealers, Inc.
(“NASD”) through the NASDAQ Global Market Reporting System or a similar organization if the NASD is no longer reporting such information, on such date, or, if there is no trading of the stock on such date (or if the market has not
closed at the applicable time), then the last price of the stock as so furnished on the next preceding date on which there was trading in such shares; or 

  

	 	(c)	 if the stock is not listed or admitted to trade on a national securities exchange and is not reported by the NASD through the NASDAQ Global Market Reporting System
or a similar organization if the NASD is no 

  

 2 

	 	 
longer reporting such information, the value as established by the Corporation at such time for purposes of this Option Agreement (if the price of the stock
is furnished by the NASD through the NASDAQ SmallCap Market, the Corporation’s determination of Fair Market Value may be based on, without limitation, the last price and/or the mean between the bid and asked prices for the stock as of the
relevant date or as of the last date that there was trading in the stock, as applicable). 

 3.3. Tax Withholding.
Upon any exercise, vesting, or payment of the Option, the Corporation shall have the right at its option to: 
  

	 	•	 	require the Participant (or her personal representative or her beneficiary, in the case of the Participant’s disability or death, as the case may be) to pay or provide for
payment of at least the minimum amount of any taxes which the Corporation may be required to withhold with respect to the Option event or payment; 

  

	 	•	 	deduct from any amount payable in cash the minimum amount of any taxes which the Corporation may be required to withhold with respect to such cash payment; or

  

	 	•	 	reduce the number of shares of Common Stock to be delivered by (or otherwise reacquire) the appropriate number of shares of Common Stock, valued at their then Fair Market Value, to
satisfy such withholding obligation. 

 In no event will the value of any shares withheld exceed the minimum amount of required withholding
under applicable law. 
 3.4. Legal Compliance. The grant of the Option and the offer, issuance and delivery of shares of Common Stock
in respect of the Option are subject to compliance with all applicable federal and state laws, rules and regulations (including but not limited to state and federal securities law, federal margin requirements) and to such approvals by any listing,
regulatory or governmental authority as may, in the opinion of counsel for the Corporation, be necessary or advisable in connection therewith. In addition, any securities delivered in respect of the Option may be subject to any special restrictions
to preserve a pooling of interests under generally accepted accounting principles. The person acquiring any securities in respect of the Option will, if requested by the Corporation, provide such assurances and representations to the Corporation as
the Corporation may deem necessary or desirable to assure compliance with all applicable legal and accounting requirements. 
  

	4.	Adjustments; Early Termination. 

 4.1.
Adjustments. Upon or in contemplation of any reclassification, recapitalization, stock split (including a stock split in the form of a stock dividend) or reverse stock split; any merger, combination, consolidation, or other reorganization; any
spin-off, split-up, or similar extraordinary dividend distribution (“spin-off”) in respect of the Common Stock (whether in the form of securities or property); any exchange of Common Stock or other securities of the Corporation, or any
similar, unusual or extraordinary corporate transaction in respect of the Common Stock; or a sale of all or substantially all the assets of the Corporation as an entirety (“asset sale”); then the 

  

 3 

 
Corporation shall, in such manner, to such extent (if any) and at such time as it deems appropriate and equitable in the circumstances: 
  

	 	(a)	in any of such events, proportionately adjust any or all of (i) the number of shares of Common Stock or the number and type of other securities that thereafter may be made the
subject of the Option, and (ii) the Exercise Price of the Option, or 

  

	 	(b)	in the case of a reclassification, recapitalization, merger, consolidation, combination, or other reorganization, spin-off or asset sale, make provision for a cash payment or for
the substitution or exchange of the Option or the cash, securities or property deliverable to the Participant based upon the distribution or consideration payable to holders of the Common Stock upon or in respect of such event.

 The Corporation may adopt such valuation methodologies with respect to the Option as it deems reasonable in the event of a
cash or property settlement, including without limitation basing such settlement solely upon the excess if any of the per share amount payable upon or in respect of such event over the Exercise Price. 
 In any of such events, the Corporation may take such action prior to such event to the extent that the Corporation deems the action necessary to permit
the Participant to realize the benefits intended to be conveyed with respect to the underlying shares in the same manner as is or will be available to stockholders generally. 
 4.2. Possible Early Termination of Option. Upon (or, as may be necessary to effectuate the purposes of the acceleration, immediately prior to) the
occurrence of a Change in Control Event, the then-outstanding and otherwise unvested portion of the Option shall become fully vested. To the extent the Option is vested and not exercised in connection with or prior to (a) a dissolution of the
Corporation, (b) an event described in Section 4.1 that the Corporation does not survive, or (c) the consummation of a Change in Control Event, the Option shall terminate, subject to any provision that has been made by the Corporation
through a plan of reorganization or otherwise for the substitution, assumption, exchange or other settlement of the Option. For purposes of this Option Agreement, “Change in Control Event” means the consummation of a merger,
consolidation, or other reorganization, with or into, or the sale of all or substantially all of the Corporation’s business and/or assets as an entirety to, one or more entities that are not Subsidiaries (a “Business
Combination”), unless as a result of the Business Combination at least 50% of the outstanding securities voting generally in the election of directors of the surviving or resulting entity or a parent thereof (the “Successor
Entity”) immediately after the reorganization are, or will be, owned, directly or indirectly, in substantially the same proportions, by shareholders of the Corporation immediately before the Business Combination. 
 4.3. Effects of Termination of Employment or Service. Reference is made to that certain Employment Agreement, dated
                         , 2006, by and between the Corporation and the Participant (the “Employment
Agreement”). If the Participant is terminated by the Corporation for any reason other than “Cause” (as such term is defined in the Employment Agreement) or if the Participant terminates her employment for “Good Reason”
(as such term is defined in the Employment Agreement) (the date of the Participant’s termination is referred to herein as the “Severance Date”), the portion, if 

  

 4 

 
any, of the Option that is outstanding and not otherwise vested as of such Severance Date shall become fully vested immediately prior to the Severance Date
and the Participant shall have twelve (12) months after the Severance Date to exercise the Option to the extent it shall be or shall have become exercisable on the Severance Date (subject to the maximum 10-year term of the Option and subject to
Section 4.2); provided, however, that the Option shall terminate immediately if the Participant materially breaches the Confidentiality Agreement or the Non-Competition Agreement entered into in connection with Section 6 of the Employment
Agreement. In the case of a termination for Cause, the Option shall terminate on the Severance Date. In all other cases, the Option, to the extent not exercisable on the Severance Date, shall terminate. 
 Notwithstanding any other provision herein, the Option shall not continue to vest during any leave of absence of the Participant, unless the Corporation
otherwise expressly provides in connection with the leave or unless continued vesting is required as a matter of law in respect of the nature of the leave. 
  

	5.	Non-Transferability and Other Restrictions. 

 The Option and any other rights of the Participant under this Option Agreement are nontransferable and exercisable only by the Participant, except as set forth below. 
 The exercise and transfer restrictions set forth above will not apply to: 
  

	 	•	 	transfers to the Corporation, 

  

	 	•	 	the designation of a beneficiary to receive benefits in the event of the Participant’s death or, if the Participant has died, transfers to or exercise by the Participant’s
beneficiary, or, in the absence of a validly designated beneficiary, transfers by will or the laws of descent and distribution, 

  

	 	•	 	transfers pursuant to a qualified domestic relations order if approved or ratified by the Corporation, 

  

	 	•	 	if the Participant has suffered a disability, permitted transfers or exercises on behalf of the Participant by her legal representative, 

  

	 	•	 	the authorization by the Corporation of “cashless exercise” procedures consistent with applicable laws and the express authorization of the Corporation, or

  

	 	•	 	upon approval by the Corporation, transfers to certain persons or entities related to the Participant, subject to the condition that the Corporation receive evidence satisfactory to
it that the transfer is being made for essentially estate and/or tax planning purposes on a gratuitous or donative basis and without consideration (other than nominal consideration or in exchange for an interest in a qualified transferee).

 Absent an effective registration statement under the Securities Act of 1933, as amended (the “Securities Act”), (and/or
compliance with any applicable state securities law registration requirements) covering the disposition of this Option or the Common Stock issued or issuable upon exercise of this Option, neither this Option nor the Common Stock issued or issuable
upon exercise of this Option may be sold, transferred, assigned, 

  

 5 

 
hypothecated or otherwise disposed of without first providing the Corporation with evidence reasonably satisfactory to the Corporation that such sale,
transfer, assignment, hypothecation or other disposal will be exempt from the registration and prospectus delivery requirements of applicable federal and state securities laws and regulations. 
  

	6.	Privileges of Stock Ownership. 

 Except as
otherwise expressly authorized by the Corporation, the Participant shall not be entitled to any privilege of stock ownership as to any shares of Common Stock not actually delivered to and held of record by the Participant. No adjustment will be made
for dividends or other rights as a shareholder for which a record date is prior to such date of delivery. 
  

	7.	No Corporate Action Restriction. 

 The
existence of the Option and this Option Agreement shall not limit, affect or restrict in any way the right or power of the Board or the shareholders of the Corporation to make or authorize: (a) any adjustment, recapitalization, reorganization
or other change in the Corporation’s or any Subsidiary’s capital structure or its business, (b) any merger, amalgamation, consolidation or change in the ownership of the Corporation or any subsidiary, (c) any issue of bonds,
debentures, capital, preferred or prior preference stock ahead of or affecting the Corporation’s or any Subsidiary’s capital stock or the rights thereof, (d) any dissolution or liquidation of the Corporation or any Subsidiary,
(e) any sale or transfer of all or any part of the Corporation or any Subsidiary’s assets or business, or (f) any other corporate act or proceeding by the Corporation or any Subsidiary. Neither the Participant nor any other person
shall have any claim under the Option or this Option Agreement against any member of the Board, or the Corporation or any employees, officers or agents of the Corporation or any Subsidiary, as a result of any such action. 
  

	8.	Notices. 

 Any notice to be given under the
terms of this Option Agreement or the Exercise Agreement shall be in writing and addressed to the Corporation at its principal office to the attention of the Secretary, and to the Participant at the address given beneath the Participant’s
signature hereto, or at such other address as either party may hereafter designate in writing to the other. Any such notice shall be given only when received, but if the Participant is no longer employed by the Corporation or any Subsidiary, shall
be deemed to have been duly given when enclosed in a properly sealed envelope addressed as aforesaid, registered or certified, and deposited (postage and registry or certification fee prepaid) in a post office or branch post office regularly
maintained by the United States Government. 
  

	9.	Entire Agreement. 

 This Option Agreement
(together with the form of Exercise Agreement attached hereto and the Employment Agreement) constitutes the entire agreement and supersedes all prior understandings and agreements, written or oral, of the parties hereto with respect to the subject
matter hereof. This Option Agreement and the Exercise Agreement may be amended only by a written instrument signed by both the Participant and the Corporation. The Corporation may, however, unilaterally waive any provision hereof or of the Exercise
Agreement in writing to the extent such waiver does not adversely affect the 

  

 6 

 
interests of the Participant hereunder, but no such waiver shall operate as or be construed to be a subsequent waiver of the same provision or a waiver of
any other provision hereof. 
  

	10.	Governing Law; Limited Rights. 

 10.1.
California Law. This Option Agreement shall be governed by and construed and enforced in accordance with the laws of the State of California without regard to conflict of law principles thereunder. 
 10.2. Limited Rights. The Participant has no rights as a shareholder of the Corporation with respect to the Option as set forth in Section 6.
The Option does not place any limit on the corporate authority of the Corporation as set forth in Section 7. 
  

	11.	Representations by the Participant. 

 The
Participant by executing this Option Agreement hereby makes the following representations to the Corporation and acknowledges that the Corporation’s reliance on securities law exemptions from qualification in the State of California is
predicated, in substantial part, upon the accuracy of these representations: 
  

	 	•	 	The Participant is acquiring the Option and if and when she exercises the Option will acquire the shares of Common Stock solely for the Participant’s own account, for
investment purposes only, and not with a view to or an intent to sell, or to offer for resale in connection with any unregistered distribution, all or any portion of the shares within the meaning of the Securities Act, the California Corporate
Securities Law, or other applicable state securities laws. 

  

	 	•	 	The Participant is knowledgeable about the Corporation and has a preexisting personal or business relationship with the Corporation. As a result of such relationship, she is
familiar with, among other characteristics, its business and financial circumstances and has access on a regular basis to or may request the Corporation’s condensed consolidated balance sheet and condensed consolidated income statement setting
forth information material to the Corporation’s financial condition, operations and prospects. 

  

	 	•	 	The Participant understands that neither this Option nor the Common Stock to be purchased upon exercise of this Option has been registered pursuant to the Securities Act or any
state securities laws, and the offer and sale of the Common Stock to be purchased upon exercise of this Option is intended to be exempt from registration under the Securities Act and under applicable state securities laws, which exemption depends
upon, among other things, the bona fide nature of the investment intent and the accuracy of the Participant’s representations as expressed herein. 

  

	 	•	 	The Participant is an “accredited investor” as defined in Rule 501 promulgated by the Securities and Exchange Commission under the Securities Act.

  

	 	•	 	 At no time was an oral representation made to the Participant relating to the Option or the purchase of shares of Common Stock and the Participant was 

  

 7 

	 	 
not presented with or solicited by any promotional meeting or material relating to the Option or the Common Stock. 

 (Remainder of Page Intentionally Left Blank) 
  

 8 

 EXHIBIT A 
 SERACARE LIFE SCIENCES, INC. 
 OPTION EXERCISE AGREEMENT 
 The undersigned (the “Purchaser”) hereby irrevocably elects to exercise her right, evidenced by that certain Nonqualified Stock Option
Agreement dated as of July 10, 2006 (the “Option Agreement”), as follows: 
  

	 	•	 	the Purchaser hereby irrevocably elects to purchase
                                 shares of Common Stock, no par value per share
(the “Shares”), of SeraCare Life Sciences, Inc., a California corporation (the “Corporation”), and 

  

	 	•	 	such purchase shall be at the price of
$                                 per share, for an aggregate amount of
$                                 (subject to applicable withholding taxes
pursuant to Section 3.3 of the Terms and Conditions of Option attached to the Option Agreement (the “Terms”)). 

 Delivery of Share Certificate. The Purchaser requests that a certificate representing the Shares be registered to Purchaser and delivered to:
                                        
                                        
                                 
 ________________________________________________________________________________________________________. 
 Option Agreement. The Purchaser acknowledges that all of her rights are subject to, and the Purchaser agrees to be bound by, all of the terms and
conditions of the Option Agreement, which is incorporated herein by this reference. If a conflict or inconsistency between the terms and conditions of this Exercise Agreement and of the Option Agreement shall arise, the terms and conditions of the
Option Agreement shall govern. The Purchaser acknowledges receipt of a copy of all documents referenced herein and acknowledges reading and understanding these documents and having an opportunity to ask any questions that she may have had about
them. 
  

									
	“PURCHASER”	 		 	 ACCEPTED BY:
 SERACARE LIFE
SCIENCES, INC.
 (a California corporation)

					
	  	 	  	 		 	 By:
	 	  
	Signature	 		 		 	
					
	  	 	  	 		 	 Print Name:
	 	  
	Print Name	 		 		 	
					
	  	 	  	 		 	 Title:
	 	  
	Address	 		 		 	
				
	  	 	  	 		 	(To be completed by the Corporation after the price (including applicable withholding taxes), value (if applicable) and receipt of funds is
verified.)
	City, State, Zip Code	 		 

  

 C-1 

 EXHIBIT D 
 SECTION 280G PROVISIONS 
 1.1 Potential Cut-Back. 
 (a) In the event it is determined (pursuant to Section 1.3) or finally determined (as defined in Section 1.4(d)) that any payment, distribution,
transfer, or benefit by the Company, or a direct or indirect subsidiary or affiliate of the Company, to or for the benefit of the Executive or the Executive’s dependents, heirs or beneficiaries (whether such payment, distribution, transfer,
benefit or other event occurs pursuant to the terms of this Agreement or otherwise in connection with, or arising out of, the Executive’s employment with the Company or a change in ownership or effective control of the Company or a substantial
portion of its assets, but determined without regard to any additional payments required under this Exhibit D) (each a “Payment” and collectively the “Payments”) is subject to the excise tax imposed by
Section 4999 of the Code, and any successor provision or any comparable provision of state or local income tax law (collectively, “Section 4999”), or any interest, penalty or addition to tax is incurred by the Executive with
respect to such excise tax (such excise tax, together with any such interest, penalty, and addition to tax, hereinafter collectively referred to as the “Excise Tax”), then the Payments shall be reduced (but not below zero) so that
the maximum amount of the Payments (after reduction) shall be one dollar ($1.00) less than the amount which would cause the Payments to be subject to the Excise Tax (the “Parachute Payment Threshold”); provided, however, that
in the event that the aggregate amount of the Payments exceeds an amount equal to one hundred and ten percent (110%) of the Parachute Payment Threshold, the Payments shall not be so reduced, and the Executive shall be entitled to a Gross-Up
Payment in accordance with Section 1.2 below. If the amount of the Payments is less than or equal to one hundred and ten percent (110%) of the Parachute Payment Threshold, the Payments shall be so reduced, and unless the Executive shall
have given prior written notice to the Company to effectuate a reduction in the Payments if such a reduction is required, the Company shall reduce the Payments by first reducing or eliminating any cash severance benefits, then by reducing or
eliminating any accelerated vesting of stock options, then by reducing or eliminating any accelerated vesting of restricted stock, then by reducing or eliminating any other remaining Payments. 
 (b) As a result of the uncertainty in the application of Section 4999 of the Code at the time of the initial determination by the Accounting Firm (as
such term is defined in Section 1.3), it is possible that Payments to the Executive which will not have been made by the Company pursuant to Section 1.1(a) should have been made. In such case, the Accounting Firm shall determine the amount
of such unpaid Payments and such amount shall be promptly paid by the Company to or for the benefit of the Executive. It is also possible that a reduction in the Payments made pursuant to Section 1.1(a) will be less than the amount of the
reduction which should have been made. In such case, the Executive shall promptly repay the amount of such excess to the Company together with interest on such amount (at the applicable federal rate provided for in Section 1274(d) of the Code)
from the date the reimbursable payment was received by the Executive to the 

  

 D-1 

 
date the same is repaid to the Company; provided, however, that if the sum of the amount by which the Payments were initially reduced and the amount
of such excess exceeds an amount equal to ten percent (10%) of the Parachute Payment Threshold, the Executive shall be entitled to the full amount of the Payments (without any reduction pursuant to this Section 1.1) and a Gross-Up Payment
in accordance with Section 1.2. 
 1.2 Potential Gross-Up. 
 (a) In the event that the Payments would be subject to the Excise Tax and that Section 1.1 does not apply because the amount of the Payments exceeds 110% of the Parachute Payment Threshold as provided therein,
then the Executive shall be entitled to receive an additional payment (a “Gross-Up Payment”) equal to an amount such that after payment by the Executive of all taxes, interest, penalties, additions to tax and costs imposed or
incurred with respect to the Gross-Up Payment (including, without limitation, any income and excise taxes imposed upon the Gross-Up Payment), the Executive retains an amount of the Gross-Up Payment equal to the Excise Tax imposed upon such Payments.
This provision is intended to put the Executive in the same position as the Executive would have been had no Excise Tax been imposed upon or incurred as a result of any Payments. 
 (b) As a result of the uncertainty in the application of Section 4999 of the Code at the time of the initial determination by the Accounting Firm, it
is possible that no Gross-Up Payment will initially be made but that a Gross-Up Payment should have been made, or a Gross-Up Payment will initially be made in an amount that is less than what should have been made (any of such events is referred to
as an “Underpayment”). It is also possible that a Gross-Up Payment will initially be made in an amount that is greater than what should have been made (an “Overpayment”). The determination of any Underpayment or
Overpayment shall be made by the Accounting Firm in accordance with Section 1.3. In the event of an Underpayment, the amount of any such Underpayment shall be paid to the Executive as an additional Gross-Up Payment. In the event of an
Overpayment, the Executive shall promptly pay to the Company the amount of such Overpayment together with interest on such amount (at the applicable federal rate provided for in Section 1274(d) of the Code) for the period commencing on the date
of the Overpayment to the date of such payment by the Executive to the Company. The Executive shall make such payment to the Company as soon as administratively practicable after the Company notifies the Executive of (a) the Accounting
Firm’s determination that an Overpayment was made and (b) the amount to be repaid. 
 1.3 Determination. 
 (a) Except as provided in Section 1.4, the determination that a Payment is subject to an Excise Tax shall be made in writing by the Accounting Firm.
For purposes of this Agreement, the term “Accounting Firm” means a nationally-recognized accounting firm selected by the Company and agreed to by the Executive, which agreement shall not be unreasonably withheld by the Executive.
Such determination by the Accounting Firm shall include the amount of the Payment subject to an Excise Tax and, if applicable, any Gross-Up Payment and detailed computations thereof, including any assumptions used in 

  

 D-2 

 
such computations. Any determination by the Accounting Firm will be binding on the Company and the Executive. 
 (b) For purposes of determining the amount of any Gross-Up Payment to be made hereunder, the Executive shall be deemed to pay federal income taxes at the
highest marginal rate of federal individual income taxation in the calendar year in which the Gross-Up Payment is to be made. Such highest marginal rate shall take into account the loss of itemized deductions by the Executive and shall also include
the Executive’s share of the hospital insurance portion of FICA and state and local income taxes at the highest marginal rate of individual income taxation in the state and locality of the Executive’s residence on the date that the Payment
is made, net of the maximum reduction in federal income taxes that could be obtained from the deduction of such state and local taxes. 
 1.4 Notification

 (a) The Executive shall notify the Company in writing of any claim by the Internal Revenue Service (or any successor thereof) or any
state or local taxing authority (individually or collectively, the “Taxing Authority”) that, if successful, would require the payment by the Company of a Gross-Up Payment. Such notification shall be given as soon as practicable but
no later than 30 days after the Executive receives written notice of such claim and shall apprise the Company of the nature of such claim and the date on which such claim is requested to be paid; provided, however, that failure by the Executive to
give such notice within such 30-day period shall not result in a waiver or forfeiture of any of the Executive’s rights under this Exhibit D except to the extent of actual damages suffered by the Company as a result of such failure. The
Executive shall not pay such claim prior to the expiration of the 15-day period following the date on which the Executive gives such notice to the Company (or such shorter period ending on the date that any payment of taxes, interest, penalties or
additions to tax with respect to such claim is due). If the Company notifies the Executive in writing prior to the expiration of such 15-day period (regardless of whether such claim was earlier paid as contemplated by the preceding parenthetical)
that it desires to contest such claim, the Executive shall: 
  

	 	(1)	give the Company any information reasonably requested by the Company relating to such claim; 

  

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

  

	 	(3)	cooperate with the Company in good faith in order effectively to contest such claim; and 

  

	 	(4)	permit the Company to participate in any proceedings relating to such claim; 

  

 D-3 

 provided, however, that the Company shall bear and pay directly all attorneys fees, costs and expenses
(including additional interest, penalties and additions to tax) incurred in connection with such contest and shall indemnify and hold the Executive harmless, on an after-tax basis, for all taxes (including, without limitation, income and excise
taxes), interest, penalties and additions to tax imposed in relation to such claim and in relation to the payment of such costs and expenses or indemnification. 
 (b) Without limitation on the foregoing provisions of this Section 1.4, and to the extent its actions do not unreasonably interfere with or prejudice the Executive’s disputes with the Taxing Authority as to
other issues, the Company shall control all proceedings taken in connection with such contest and, in its reasonable discretion, may pursue or forego any and all administrative appeals, proceedings, hearings and conferences with the Taxing Authority
in respect of such claim and may, at its or in their sole option, either direct the Executive to pay the tax, interest or penalties claimed and sue for a refund or contest the claim in any permissible manner, and the Executive agrees to prosecute
such contest to a determination before any administrative tribunal, in a court of initial jurisdiction and in one or more appellate courts, as the Company shall determine; provided, however, that if the Company directs the Executive to pay such
claim and sue for a refund, the Company shall advance an amount equal to such payment to the Executive, on an interest-free basis, and shall indemnify and hold the Executive harmless, on an after-tax basis, from all taxes (including, without
limitation, income and excise taxes), interest, penalties and additions to tax imposed with respect to such advance or with respect to any imputed income with respect to such advance, as any such amounts are incurred; and, further, provided, that
any extension of the statute of limitations relating to payment of taxes, interest, penalties or additions to tax for the taxable year of the Executive with respect to which such contested amount is claimed to be due is limited solely to such
contested amount; and, provided, further, that any settlement of any claim shall be reasonably acceptable to the Executive, and the Company’s control of the contest shall be limited to issues with respect to which a Gross-Up Payment would be
payable hereunder, and the Executive shall be entitled to settle or contest, as the case may be, any other issue. 
 (c) If, after receipt by
the Executive of an amount advanced by the Company pursuant to Section 1.4(a), the Executive receives any refund with respect to such claim, the Executive shall (subject to the Company’s compliance with the requirements of this Exhibit D)
promptly pay to the Company an amount equal to such refund (together with any interest paid or credited thereof after taxes applicable thereto), net of any taxes (including, without limitation, any income or excise taxes), interest, penalties or
additions to tax and any other costs incurred by the Executive in connection with such advance, after giving effect to such repayment. If, after the receipt by the Executive of an amount advanced by the Company pursuant to Section 1.4(a), it is
finally determined that the Executive is not entitled to any refund with respect to such claim, then such advance shall be forgiven and shall not be required to be repaid and the amount of such advance shall be treated as a Gross-Up Payment and
shall offset, to the extent thereof, the amount of any Gross-Up Payment otherwise required to be paid. 
 (d) For purposes of this Exhibit D,
whether the Excise Tax is applicable to a Payment shall be deemed to be “finally determined” upon the earliest of: (1) the expiration of the 

  

 D-4 

 
15-day period referred to in Section 1.4(a) if the Company or the Executive’s employer has not notified the Executive that it intends to contest
the underlying claim, (2) the expiration of any period following which no right of appeal exists, (3) the date upon which a closing agreement or similar agreement with respect to the claim is executed by the Executive and the Taxing
Authority (which agreement may be executed only in compliance with this section), or (4) the receipt by the Executive of notice from the Company that it no longer seeks to pursue a contest (which shall be deemed received if the Company does
not, within 15 days following receipt of a written inquiry from the Executive, affirmatively indicate in writing to the Executive that the Company intends to continue to pursue such contest). 
 1.5 Compliance with Law. Nothing in this Exhibit D is intended to violate the Sarbanes-Oxley Act of 2002, and to the extent that any advance or repayment
obligation hereunder would constitute such a violation, such obligation shall be modified so as to make the advance a nonrefundable payment to the Executive and the repayment obligation null and void to the extent required by such Act. 

 

 D-5 

 EXHIBIT E 
 SERACARE LIFE SCIENCES, INC. 
 FORM OF RELEASE AGREEMENT 
 [Attached] 

 EXHIBIT E 
 SERACARE LIFE SCIENCES, INC. 
 FORM OF RELEASE AGREEMENT 
 1. Release by Executive. Susan Vogt (“Executive”), on her own behalf and behalf of her descendants, dependents, heirs, executors, administrators,
assigns and successors, and each of them, hereby acknowledges full and complete satisfaction of and releases and discharges and covenants not to sue SeraCare Life Sciences, Inc., a California corporation (the “Company”), its
divisions, subsidiaries, parents, or affiliated corporations, past and present, and each of them, as well as its and their assignees, successors, directors, officers, shareholders, partners, representatives, attorneys, agents or employees, past or
present, or any of them (individually and collectively, “Releasees”), from and with respect to any and all claims, agreements, obligations, demands and causes of action, known or unknown, suspected or unsuspected, arising out of or
in any way connected with Executive’s employment or any other relationship with or interest in the Company or the termination thereof, including without limiting the generality of the foregoing, any claim for severance pay, profit sharing,
bonus or similar benefit, equity-based awards and/or dividend equivalents thereon, pension, retirement, life insurance, health or medical insurance or any other fringe benefit, or disability, or any other claims, agreements, obligations, demands and
causes of action, known or unknown, suspected or unsuspected, resulting from any act or omission by or on the part of Releasees committed or omitted prior to the date of this Release Agreement, including, without limiting the generality of the
foregoing, any claim under Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act, or any other federal, state or local law, regulation or ordinance; provided, however, that the foregoing release does not apply to any
obligation of the Company to Executive pursuant to any of the following: (1) the benefits due to the Executive in connection with the execution and delivery of this Release Agreement pursuant to Section 5.3 of the Employment Agreement
dated as of [                    , 2006] by and between the Company and Executive (the “Employment Agreement”); (2) the
equity-based awards previously granted by the Company to Executive as referred to in Exhibit E-1 hereto (which shall be governed by and subject to termination pursuant to the terms and conditions of the written agreements evidencing the applicable
awards); (3) the Executive’s right to her benefits pursuant to the Company’s 401(k) plan (which benefits are approximately
[$                    ] in the aggregate); (4) any right that the Executive may have to indemnification pursuant to the Company’s
bylaws or under applicable laws with respect to any losses that the Executive may have incurred or may in the future incur with respect to her past service as an officer or employee of the Company; and (5) with respect to any such losses, any
rights that the Executive may have to insurance coverage for such losses under any Company directors and officers liability insurance policy. 
 2.
Acknowledgement of Payment of Wages. Executive acknowledges that she has received all amounts owed for her regular and usual salary (including, but not limited to, any bonus, severance, incentives or other wages but excluding salary for the
current payroll period), and usual benefits through the date of this Release Agreement (except for the benefits due to the Executive in connection with the execution and delivery of this Release Agreement pursuant to Section 5.3 of the
Employment Agreement). Executive currently owns [            ] shares of common stock of the Company and, other than her rights as a shareholder with respect to such shares and her
rights as to the equity-based awards referred to in Exhibit E-1 hereto (which shall be 

  

 E-1 

 
governed by and subject to termination pursuant to the terms and conditions of the written agreements evidencing the applicable awards), Executive has
received all equity and equity-based securities and awards to which she is entitled from the Company and each of the Releasees and is not entitled to any new securities or awards in the future from or with respect to the Company or any of the
Releasees. 
 3. ADEA Waiver. Executive expressly acknowledges and agrees that by entering into this Release Agreement, she is waiving any and all
rights or claims that she may have arising under the Age Discrimination in Employment Act of 1967, as amended (“ADEA”), which have arisen on or before the date of execution of this Release Agreement. Executive further expressly
acknowledges and agrees that: 
 (a) In return for this Release Agreement, she will receive consideration beyond that which she was already
entitled to receive before entering into this Release Agreement; 
 (b) She is hereby advised in writing by this Release Agreement to consult
with an attorney before signing this Release Agreement; 
 (c) She was given a copy of this Release Agreement on
[            ] and informed that she had twenty-one (21) days within which to consider the Release Agreement and that if she wished to executive this Release
Agreement prior to expiration of such 21-day period, she should execute the Acknowledgement and Waiver attached hereto as Exhibit E-2; 
 (d)
Nothing in this Release Agreement prevents or precludes Executive from challenging or seeking a determination in good faith of the validity of this waiver under the ADEA, nor does it impose any condition precedent, penalties or costs from doing so,
unless specifically authorized by federal law; and 
 (e) She was informed that she has seven (7) days following the date of execution
of this Release Agreement in which to revoke this Release Agreement, and this Release Agreement will become null and void if Executive elects revocation during that time. Any revocation must be in writing and must be received by the Company during
the seven-day revocation period. In the event that Executive exercises her right of revocation, neither the Company nor Executive will have any obligations under this Release Agreement. 
 4. No Transferred Claims. Executive represents and warrants to the Company that she has not heretofore assigned or transferred to any person not a party to this Release Agreement any released matter or any part
or portion thereof. 
 5. No Pending or Future Lawsuits. Executive represents and warrants to the Company that (a) she has no lawsuits, claims,
or actions pending in her name, or on behalf of any other person or entity, against the Company or any Releasee; and (b) Executive does not currently intend to bring any claims on her own behalf or on behalf of any other person or entity
against the Company or any of the Releasees. Executive waives the right to file (or to have another file on her behalf) any charge, complaint, action, application, petition, or grievance against the Company or any other Releasee in any court or
before any government agency or arbitrator arising out of or in any way connected with or relating to any of the matters released 

  

 E-2 

 
hereinabove, or to allow herself to be represented now or in the future in any class or action relating thereto. Executive also promises to opt out of any
class or action and to take such other steps as she has the power to take to disassociate herself from any class or action seeking relief against the Company or any other Releasee regarding any of the matters released hereinabove. 
 The undersigned have read and understand the consequences of this Release Agreement and voluntarily sign it. The undersigned declare under penalty of
perjury under the laws of the State of Massachusetts that the foregoing is true and correct. 
 EXECUTED this
             day of                      20    ,
at                  County,                     .

  

	
	 “Executive”

	
	   
	 Susan Vogt

  

			
	 SERACARE LIFE SCIENCES, INC.

		
	 By:
	 	  
		 	

  

 E-3 

 EXHIBIT E-1 
 LIST OF EQUITY-BASED AWARD GRANTS 
  

 E-4 

 EXHIBIT E-2 
 ACKNOWLEDGMENT AND WAIVER 
 I, Susan Vogt, hereby acknowledge that I was given 21 days to consider
the foregoing Release Agreement and voluntarily chose to sign the Release Agreement prior to the expiration of the 21-day period. 
 I
declare under penalty of perjury under the laws of the State of Florida that the foregoing is true and correct. 
 EXECUTED this
         day of                      2006, at
                     County,
                    . 
  

	
	
	   
	SUSAN VOGT

  

 E-5

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