Document:

exv10w2

Exhibit 10.2

SERACARE LIFE SCIENCES, INC.

AMENDED
AND RESTATED 2001 STOCK INCENTIVE PLAN
(as amended)

	 	 	 	 	 	 	 
	THE PLAN	 	 	1	 
	1.1

	 	Purpose
	 	 	1	 
	1.2

	 	Administration and Authorization; Power and Procedure
	 	 	1	 
	1.3

	 	Participation
	 	 	2	 
	1.4

	 	Shares Available for Awards; Share Limits
	 	 	2	 
	1.5

	 	Grant of Awards
	 	 	2	 
	1.6

	 	Award Period
	 	 	3	 
	1.7

	 	Limitations on Exercise and Vesting of Awards
	 	 	3	 
	1.8

	 	No Transferability; Limited Exception to Transfer Restrictions
	 	 	3	 
	 
	 	 	 	 	 	 
	OPTIONS	 	 	4	 
	2.1

	 	Grants
	 	 	4	 
	2.2

	 	Option Price; Vesting
	 	 	4	 
	2.3

	 	Limitations on Grant and Terms of Incentive Stock Options
	 	 	4	 
	2.4

	 	Limits on 10% Holders
	 	 	4	 
	2.5

	 	Waiver of Restrictions
	 	 	5	 
	2.6

	 	Effects of Termination of Employment or Service
	 	 	5	 
	2.7

	 	Options and Rights in Substitution for Stock Options Granted by Other Corporations
	 	 	5	 
	 
	 	 	 	 	 	 
	RESTRICTED STOCK AND STOCK UNIT AWARDS	 	 	6	 
	3.1

	 	Grants
	 	 	6	 
	3.2

	 	Restrictions
	 	 	6	 
	3.3

	 	Return to the Corporation
	 	 	6	 
	 
	 	 	 	 	 	 
	NON-EMPLOYEE DIRECTOR OPTIONS	 	 	7	 
	4.1

	 	Participation
	 	 	7	 
	4.2

	 	Annual Option Grants
	 	 	7	 
	4.3

	 	Option Price
	 	 	7	 
	4.4

	 	Option Period and Exercisability
	 	 	7	 
	4.5

	 	Termination of Directorship
	 	 	7	 
	4.6

	 	Adjustments
	 	 	8	 
	4.7

	 	Termination Upon a Change in Control or Other Event
	 	 	8	 
	 
	 	 	 	 	 	 
	OTHER PROVISIONS	 	 	8	 
	5.1

	 	Rights of Eligible Persons, Participants and Beneficiaries
	 	 	8	 
	5.2

	 	Adjustments; Acceleration
	 	 	8	 
	5.3

	 	Effect of Termination of Service on Awards
	 	 	10	 
	5.4

	 	Compliance with Laws
	 	 	10	 
	5.5

	 	Tax Matters
	 	 	11	 
	5.6

	 	Plan and Award Amendments, Termination and Suspension
	 	 	11	 
	5.7

	 	Privileges of Stock Ownership
	 	 	12	 
	5.8

	 	Effective Date of the Plan
	 	 	12	 
	5.9

	 	Term of the Plan
	 	 	12	 
	5.10

	 	Governing Law/Construction/Severability
	 	 	12	 
	5.11

	 	Captions
	 	 	13	 
	5.12

	 	Effect of Change of Subsidiary Status
	 	 	13	 
	5.13

	 	Stock-Based Awards in Substitution for Stock Options or Awards Granted by Other Corporation
	 	 	13	 

 

 

	 	 	 	 	 	 	 
	5.14

	 	Non-Exclusivity of Plan
	 	 	13	 
	5.15

	 	No Corporate Action Restriction
	 	 	13	 
	5.16

	 	Other Company Benefit and Compensation Program
	 	 	13	 
	 
	 	 	 	 	 	 
	DEFINITIONS	 	 	13	 
	6.1

	 	Definitions
	 	 	13	 

 

 

SERACARE LIFE SCIENCES, INC.

AMENDED AND RESTATED 2001 STOCK INCENTIVE PLAN

(as amended)

	1.	 	THE PLAN

     1.1 Purpose

     The purpose of this Plan is to promote the success of the Company by providing an additional
means through the grant of Awards to attract, motivate, retain and reward eligible persons with
awards and incentives for high levels of individual performance and improved financial performance
of the Company. “Corporation” means SeraCare Life Sciences, Inc. and “Company” means the
Corporation and its Subsidiaries, collectively. These terms and other capitalized terms are defined
in Article 6.

     1.2 Administration and Authorization; Power and Procedure.

     (a) Committee. This Plan shall be administered by and all Awards to Eligible Persons shall be
authorized by the Committee. Action of the Committee with respect to the administration of this
Plan shall be taken pursuant to a majority vote or by written consent of its members.

     (b) Plan Awards; Interpretation; Powers of Committee. Subject to the express provisions of
this Plan, the Committee shall have the authority:

     (i) to determine eligibility and, from among those persons determined to be eligible, the
particular Eligible Persons who will receive Awards;

     (ii) to grant Awards to Eligible Persons, determine the price at which securities will be
offered or awarded and the amount of securities to be offered or awarded to any of such persons,
and determine the other specific terms and conditions of such Awards consistent with the express
limits of this Plan, and establish the installments (if any) in which such Awards shall become
exercisable or shall vest, or determine that no delayed exercisability or vesting is required, and
establish the events of termination or reversion of such Awards;

     (iii) to approve the forms of Award Agreements (which need not be identical either as to type
of award or among Participants);

     (iv) to construe and interpret this Plan and any agreements defining the rights and
obligations of the Company and Participants under this Plan, further define the terms used in this
Plan, and prescribe, amend and rescind rules and regulations relating to the administration of this
Plan;

     (v) to cancel, modify, or waive the Corporation’s rights with respect to, or modify,
discontinue, suspend, or terminate any or all outstanding Awards held by Eligible Employees,
subject to any required consent under Section 5.6;

     (vi) to accelerate or extend the exercisability or extend the term of any or all such
outstanding Awards within the maximum ten-year term of Awards under Section 1.6; and

     (vii) to make all other determinations and take such other action as contemplated by this Plan
or as may be necessary or advisable for the administration of this Plan and the effectuation of its
purposes.

     The provisions of Section 4 relating to Non-Employee Director Options shall be automatic and, to
the maximum extent possible, self-effectuating. Although the discretion of the Committee extends to
such Options, Board approval or ratification shall be required for any material amendment to any
such Option.

     (c) Binding Determinations/Liability Limitation. Any action taken by, or inaction of, the
Corporation, any

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SERACARE LIFE SCIENCES, INC.

AMENDED AND RESTATED 2001 STOCK INCENTIVE PLAN

(as amended)

Subsidiary, the Board or the Committee relating or pursuant to this Plan and within its
authority hereunder or under applicable law shall be within the absolute discretion of that entity
or body and shall be conclusive and binding upon all persons. Neither the Board nor any Committee,
nor any member thereof or person acting at the direction thereof shall be liable for any act,
omission, interpretation, construction or determination made in good faith in connection with this
Plan (or any Award made under this Plan), and all such persons shall be entitled to indemnification
and reimbursement by the Company in respect of any claim, loss, damage or expense (including,
without limitation, attorneys’ fees) arising or resulting therefrom to the fullest extent permitted
by law and/or under any directors and officers liability insurance coverage that may be in effect
from time to time.

     (d) Reliance on Experts. In making any determination or in taking or not taking any action
under this Plan, the Committee or the Board, as the case may be, may obtain and may rely upon the
advice of experts, including professional advisors to the Corporation. No director, officer or
agent of the Company shall be liable for any such action or determination taken or made or omitted
in good faith.

     (e) Delegation. The Committee, to the extent permissible under applicable law, may delegate
such of its powers with respect to this Plan as it determines to one or more individuals (including
committees of individuals) who are officers or employees of the Company. In the case of any such
delegation, the term “Committee” shall be deemed to include the person or persons to whom such
delegation has been made, to the extent of such delegation.

     1.3 Participation

     Awards may be granted by the Committee only to those persons that the Committee determines to
be Eligible Persons. An Eligible Person who has been granted an Award may, if otherwise eligible,
be granted additional Awards if the Committee shall so determine.

     1.4 Shares Available for Awards; Share Limits.

     (a) Shares Available. Subject to the provisions of Section 5.2, the capital stock that may be
delivered under this Plan shall be shares of the Corporation’s authorized but unissued Common Stock
and any shares of its Common Stock held as treasury shares. The shares may be delivered for any
lawful consideration.

     (b) Share Limits. The maximum number of shares of Common Stock that may be delivered pursuant
to Awards granted to Eligible Persons under this Plan shall not exceed 1,800,000 shares (the “Share
Limit”). The maximum number of shares of Common Stock that may be delivered pursuant to options
qualified as Incentive Stock Options granted under this Plan is 1,000,000 shares. The maximum
number of shares subject to those options and stock appreciation rights that are granted during any
calendar year to any individual shall, in the case of each such type of Award, be limited to
1,350,000 and the maximum individual limit on the number of shares in the aggregate subject to all
Awards (other than options and stock appreciation rights) that during any calendar year are granted
under this Plan to any individual shall be 1,350,000. Each of the foregoing numerical limits shall
be subject to adjustment as contemplated by this Section 1.4 and Section 5.2.

     (c) Share Reservation; Replenishment and Reissue of Unvested Awards. No Award may be granted
under this Plan unless, on the date of grant, the sum of (i) the maximum number of shares issuable
at any time pursuant to such Award, plus (ii) the number of shares that have previously been issued
pursuant to Awards granted under this Plan, other than reacquired shares available for reissue
consistent with any applicable legal limitations, plus (iii) the maximum number of shares that may
be issued at any time after such date of grant pursuant to Awards that are outstanding on such
date, does not exceed the Share Limit. Shares that are subject to or underlie Awards which expire
or for any reason are cancelled or terminated, are forfeited, fail to vest, or for any other reason
are not paid or delivered under this Plan, as well as reacquired shares, shall again, except to the
extent prohibited by law, be available for subsequent Awards under the Plan. Except as limited by
law, if an Award is or may be settled only in cash, such Award need not be counted against any of
the limits under this Section 1.4.

     1.5 Grant of Awards.

     Subject to the express provisions of this Plan, the Committee shall determine the number of
shares of Common Stock subject to each Award, the price (if any) to be paid for the shares or the
Award and, in the case of

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SERACARE LIFE SCIENCES, INC.

AMENDED AND RESTATED 2001 STOCK INCENTIVE PLAN

(as amended)

performance share awards, in addition to matters addressed in Section 1.2(b), the specific
objectives, goals and performance criteria (such as an increase in sales, market value, earnings or
book value over a base period, the years of service before vesting, the relevant job classification
or level of responsibility or other factors) that further define the terms of the performance share
award. Each Award shall be evidenced by an Award Agreement signed by the Corporation and, if
required by the Committee, by the Participant. The Award Agreement shall set forth the material
terms and conditions of the Award established by the Committee consistent with the specific
provisions of this Plan.

     1.6 Award Period.

     Each Award and all executory rights or obligations under the related Award Agreement shall
expire on such date (if any) as shall be determined by the Committee, but not later than ten (10)
years after the Award Date.

     1.7 Limitations on Exercise and Vesting of Awards.

     (a) Provisions for Exercise. Unless the Committee otherwise expressly provides, no Award
shall be exercisable or shall vest until at least six months after the initial Award Date, and once
exercisable an Award shall remain exercisable until the expiration or earlier termination of the
Award.

     (b) Procedure. Any exercisable Award shall be deemed to be exercised when the Secretary of
the Corporation receives written notice of such exercise from the Participant, together with any
required payment made in accordance with Section 2.2.

     (c) Fractional Shares/Minimum Issue. Fractional share interests shall be disregarded, but may
be accumulated. The Committee, however, may determine in the case of Eligible Persons that cash,
other securities, or other property will be paid or transferred in lieu of any fractional share
interests.

     1.8 No Transferability; Limited Exception to Transfer Restrictions.

     (a) Limit On Exercise and Transfer. Unless otherwise expressly provided in (or pursuant to)
this Section 1.8, by applicable law and by the Award Agreement, as the same may be amended, (i) all
Awards are non-transferable and shall not be subject in any manner to sale, transfer, anticipation,
alienation, assignment, pledge, encumbrance or charge, (ii) Awards shall be exercised only by the
Participant, and (iii) amounts payable or shares issuable pursuant to an Award shall be delivered
only to (or for the account of) the Participant.

     (b) Exceptions. The Committee may permit Awards to be exercised by and paid only to certain
persons or entities related to the Participant, including but not limited to members of the
Participant’s immediate family, charitable institutions, or trusts or other entities whose
beneficiaries or beneficial owners are members of the Participant’s immediate family or charitable
institutions, or to such other related persons or entities as may be approved by the Committee,
pursuant to such conditions and procedures as the Committee may establish. Any permitted transfer
shall be subject to the condition that the Committee receive evidence satisfactory to it that the
transfer is being made for essentially estate 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).

     (c) Further Exceptions to Limits On Transfer. The exercise and transfer restrictions in
Section 1.8(a) shall not apply to:

     (i) transfers to the Corporation,

     (ii) 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,

     (iii) transfers pursuant to a QDRO order if approved or ratified by the Committee,

     (iv) if the Participant has suffered a disability, permitted transfers or exercises on behalf
of the Participant by

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SERACARE LIFE SCIENCES, INC.

AMENDED AND RESTATED 2001 STOCK INCENTIVE PLAN

(as amended)

his or her legal representative, or

     (v) the authorization by the Committee of “cashless exercise” procedures with third parties
who provide financing for the purpose of (or who otherwise facilitate) the exercise of Awards
consistent with applicable laws and the express authorization of the Committee.

Notwithstanding the foregoing or anything in Section 1.8(b) to the contrary, an ISO may be
transferred only by will or the laws of descent and distribution, and during the lifetime of the
Eligible Person to whom it was granted it may be exercised only by such Eligible Person.

	2.	 	OPTIONS.

     2.1 Grants.

     One or more Options may be granted under this Article to any Eligible Person. Each Option
granted shall be deemed to be designated by the Committee, on the date of grant, as a Nonqualified
Stock Option, unless affirmatively designated in the applicable Award Agreement as an Incentive
Stock Option.

     2.2 Option Price; Vesting.

     (a) Pricing Limits. The purchase price per share of the Common Stock covered by each Option
shall be determined by the Committee at the time of the Award, but in no case shall it be less than
100% (110% in the case of an Incentive Stock Option granted to a Participant described in Section
2.4) of the Fair Market Value of the Common Stock on the date of grant.

     (b) Payment Provisions. The purchase price of any shares purchased on exercise of an Option
granted under this Article shall be paid in full at the time of each purchase in one or a
combination of the following methods: (i) in cash or by electronic funds transfer; (ii) by check
payable to the order of the Corporation; (iii) if authorized by the Committee, by a cashless
exercise or net exercise pursuant to such rules as the Committee may adopt; (iv) by notice and
third party payment in such manner as may be authorized by the Committee; (v) by the delivery of
shares of Common Stock of the Corporation already owned by the Participant, or (vi) by any other
means acceptable to the Corporation, provided, however, that the Committee may in its absolute
discretion limit the Participant’s ability to exercise an Award by a cashless or net exercise or by
delivering such shares; and further provided, however, that the Corporation shall not, directly or
indirectly, extend or maintain credit, or arrange for the extension of credit, in the form of a
personal loan to or for any director or executive officer of the Corporation, under any exercise
method sanctioned above or otherwise, in violation of Section 402 of the Sarbanes-Oxley Act of
2002. Shares of Common Stock used to satisfy the exercise price of an Option shall be valued at
their Fair Market Value on the date of exercise.

     (c) Vesting. Unless otherwise provided by the Committee in the applicable Award Agreement,
each Option shall vest as to one-third of the number of shares subject thereto on each of the
first, second, and third anniversaries of the Award Date of the Option, subject to earlier
termination pursuant to Section 2.6 and Section 5.2.

     2.3 Limitations on Grant and Terms of Incentive Stock Options.

     (a) Option Period. Each Option and all rights thereunder shall expire no later than 10 years
after the Award Date.

     (b) Other Code Limits. Incentive Stock Options may only be granted to Eligible Employees of
the Corporation or a Subsidiary that satisfies the other eligibility requirements of the Code.
There shall be imposed in any Award Agreement relating to Incentive Stock Options such other terms
and conditions as from time to time are required in order that the Option be an “incentive stock
option” as that term is defined in Section 422 of the Code.

     2.4 Limits on 10% Holders.

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SERACARE LIFE SCIENCES, INC.

AMENDED AND RESTATED 2001 STOCK INCENTIVE PLAN

(as amended)

     No Incentive Stock Option may be granted to any person who, at the time the Option is granted,
owns (or is deemed to own under Section 424(d) of the Code) shares of outstanding Common Stock
possessing more than 10% of the total combined voting power of all classes of stock of the
Corporation, unless the exercise price of such Option is at least 110% of the Fair Market Value of
the stock subject to the Option and such Option by its terms is not exercisable after the
expiration of five years from the date such Option is granted.

     2.5 Waiver of Restrictions.

     Subject to Section 1.4 and Section 5.6 and the specific limitations on Awards contained in
this Plan, the Committee from time to time may authorize, generally or in specific cases only, for
the benefit of any Eligible Person any adjustment in the vesting schedule, the restrictions upon or
(subject to Section 2.3(b)) the term of, an Award granted under this Article by cancellation of an
outstanding Award and a subsequent regranting of an Award, by amendment, by substitution of an
outstanding Award, by waiver or by other legally valid means.

     2.6 Effects of Termination of Employment or Service.

     (a) Options — Resignation or Dismissal. If the Participant’s employment by (or other service
specified in the Award Agreement to) the Company terminates for any reason (the date of such
termination being referred to as the “Severance Date”) other than Retirement, Total Disability or
death, or for Cause (as determined in the discretion of the Committee), the Participant shall have,
unless otherwise provided in the Award Agreement, three months after the Severance Date to exercise
any Option to the extent it shall have become exercisable on the Severance Date. In the case of a
termination for Cause, the Option shall terminate on the Severance Date. In other cases, the
Option, to the extent not exercisable on the Severance Date, shall terminate.

     (b) Options — Death or Disability. If the Participant’s employment by (or specified service
to) the Company terminates as a result of Total Disability or death, the Participant, Participant’s
Personal Representative or his or her Beneficiary, as the case may be, shall have, unless otherwise
provided in the Award Agreement, until 12 months after the Severance Date to exercise any Option to
the extent it shall have become exercisable by the Severance Date. Any Option to the extent not
exercisable on the Severance Date shall terminate.

     (c) Options — Retirement. If the Participant’s employment by (or specified service to) the
Company terminates as a result of Retirement, the Participant, Participant’s Personal
Representative or his or her Beneficiary, as the case may be, shall have, unless otherwise provided
in the Award Agreement, until 12 months after the Severance Date to exercise any Nonqualified Stock
Option (three months after the Severance Date in the case of an Incentive Stock Option) to the
extent it shall have become exercisable by the Severance Date. The Option, to the extent not
exercisable on the Severance Date, shall terminate.

     (d) Committee Discretion. Notwithstanding the foregoing provisions of this Section 2.6, in
the event of, or in anticipation of, a termination of employment or service with the Company for
any reason, other than discharge for Cause, the Committee may, in its discretion, increase the
portion of the Participant’s Award available to the Participant, or Participant’s Beneficiary or
Personal Representative, as the case may be, or, subject to the provisions of Section 1.6, extend
the exercisability period, upon such terms as the Committee shall determine and expressly set forth
in or by amendment to the Award Agreement; provided, however, that the Committee shall take due
consideration of the implications of any such amendment under Section 409A of the Code and under
Generally Accepted Accounting Principles applicable to the Company.

     2.7 Options and Rights in Substitution for Stock Options Granted by Other Corporations

     Options and Stock Appreciation Rights may be granted to Eligible Persons under this Plan in
substitution for employee stock options granted by other entities to persons who are or who will
become Eligible Persons in respect of the Company, in connection with a distribution, merger or
reorganization by or with the granting entity or an affiliated entity, or the acquisition by the
Company, directly or indirectly, of all or a substantial part of the stock or assets of the other
entity.

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SERACARE LIFE SCIENCES, INC.

AMENDED AND RESTATED 2001 STOCK INCENTIVE PLAN

(as amended)

3. RESTRICTED STOCK AND STOCK UNIT AWARDS.

     Subject to any applicable limitations under law and to such rules and procedures as the
Committee may establish from time to time:

     3.1 Grants.

     (a) Restricted Stock. The Committee may, in its discretion, grant one or more Restricted
Stock Awards to any Eligible Person. Each Restricted Stock Award Agreement shall specify the number
of shares of Common Stock to be issued to the Participant, the date of such issuance, the
consideration for such shares (but not less than the minimum lawful consideration under applicable
state law) by the Participant, the extent (if any) to which dividends or other distributions with
respect to, or amounts exchanged for, such shares shall be subject to restriction, and the
restrictions (which may be based on performance criteria, passage of time or other factors or any
combination thereof) imposed on such shares and the conditions of release or lapse of such
restrictions. Such restrictions shall not lapse earlier than six months after the Award Date,
except to the extent the Committee may otherwise provide in its sole discretion. Stock certificates
or book entries evidencing shares of Restricted Stock pending the lapse of the restrictions
(“Restricted Shares”) shall bear a legend or notation making appropriate reference to the
restrictions imposed hereunder and (if in certificate form) shall be held by the Corporation or by
a third party designated by the Committee until the restrictions on such shares shall have lapsed
and the shares shall have vested in accordance with the provisions of the Award and Section 1.7.
Upon issuance of the Restricted Stock Award, the Participant may be required to provide such
further assurance and documents as the Committee may require to enforce the restrictions.

     (b) Stock Units. The Committee may, in its discretion, authorize and grant to any Eligible
Person a Stock Unit Award or the crediting of Stock Units for services rendered or to be rendered
or in lieu of other compensation, consistent with other applicable terms of this Plan, may permit
an Eligible Person to irrevocably elect to defer by means of Stock Units or receive in Stock Units
all or a portion of any Award hereunder, or may grant Stock Units in lieu of, in exchange for, in
respect of, or in addition to any other Compensation or Award under this Plan. The specific terms,
conditions, and provisions relating to each Stock Unit grant or election, including the applicable
vesting and payout provisions of the Stock Units and the form of payment to be made at or following
the vesting thereof, shall be set forth in or pursuant to the applicable agreement or Award and any
relevant Company deferred compensation plan, in form substantially as approved by the Committee.

     (c) Payouts. The Committee in the applicable Award Agreement or the relevant Company deferred
compensation plan may permit the Participant to elect the form and time of payout of vested Stock
Units on such conditions or subject to such procedures as the Committee may impose, and may permit
Restricted Stock or Stock Unit offsets or other provision for payment of any applicable taxes that
may be due on the crediting, vesting or payment in respect of the Stock Units.

     3.2 Restrictions.

     (a) Pre-Vesting Restraints. Except as provided in Section 3.1 and 1.8, Restricted Shares
comprising any Restricted Stock Award and rights in respect of Stock Unit Awards may not be sold,
assigned, transferred, pledged or otherwise disposed of or encumbered, either voluntarily or
involuntarily, until the restrictions on Restricted Shares have lapsed and the shares issuable
pursuant to the Stock Unit Award have been issued.

     (b) Dividend and Voting Rights. Unless otherwise provided in the applicable Award Agreement,
a Participant receiving a Restricted Stock Award shall be entitled to vote such shares but shall
not be entitled to dividends on any of the shares until the shares have vested. Such dividends
shall be retained in a restricted account until the shares have vested and shall revert to the
Corporation if they fail to vest.

     (c) Cash Payments. If the Participant shall have paid or received cash (including any
payments in respect of dividends) in connection with the Restricted Stock Award or Stock Unit
Award, the Award Agreement shall specify the extent (if any) to which such amounts shall be
returned (with or without an earnings factor) as to any Restricted Shares or Stock Unit Awards
which cease to be eligible for vesting.

     3.3 Return to the Corporation.

     Unless the Committee otherwise expressly provides, Restricted Shares or Stock Units that
remain subject to conditions to vesting upon restrictions at the time of termination of employment
or service or are subject to other

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SERACARE LIFE SCIENCES, INC.

AMENDED AND RESTATED 2001 STOCK INCENTIVE PLAN

(as amended)

conditions to vesting that have not been satisfied by the time specified in the applicable
Award Agreement shall not vest and shall be returned to the Corporation or cancelled, as the case
may be, unless the Committee otherwise provides in the applicable terms of the Award.

4. NON-EMPLOYEE DIRECTOR OPTIONS

     4.1 Participation.

     Options under this Article 4 shall be made only to Non-Employee Directors and shall be
evidenced by award agreements between the recipients and the Company.

     4.2 Annual Option Grants.

     (a) Annual Awards. Commencing with the Corporation’s annual meeting of stockholders held in
2008, on the date of, but immediately following, each of the Corporation’s annual meeting of
stockholders in each year during the term of the Plan there shall be automatically granted (without
any action by the Committee or the Board) the following Nonqualified Stock Options (the Award Date
of which shall be the date of such annual meeting): (i) an Option to purchase 15,000 shares of
Common Stock to each Non-Employee Director, except the Chairman of the Board; (ii) an Option to
purchase 25,000 shares of Common Stock to the Chairman of the Board, provided the Chairman is also
a Non-Employee Director; (iii) an Option to purchase 2,500 shares of Common Stock to each member of
the Audit Committee of the Board who is also a Non-Employee Director other than the Chairman of the
Audit Committee; and (iv) an Option to purchase 5,000 shares of Common Stock to the Chairman of the
Audit Committee of the Board, provided the Chairman is also a Non-Employee Director.

     (b) Maximum Number of Shares. Annual grants that would otherwise exceed the maximum number of
shares under Section 1.4(a) shall be prorated within such limitation. A Non-Employee Director shall
not receive more than one Nonqualified Stock Option under this Section 4.2 in any calendar year.

     4.3 Option Price.

     The purchase price per share of the Common Stock covered by each Option granted pursuant to
Section 4.2 hereof shall be 100 percent of the Fair Market Value of the Common Stock on the Award
Date. The exercise price of any Option granted under this Article 4 shall be paid in full at the
time of each purchase in one or a combination of the following methods: (i) in cash or by
electronic funds transfer; (ii) by check payable to the order of the Corporation; (iii) if
authorized by the Committee, by a cashless exercise or net exercise pursuant to such rules as the
Committee may adopt; (iv) by notice and third party payment in such manner as may be authorized by
the Committee; (v) by the delivery of shares of Common Stock of the Corporation already owned by
the Participant, or (vi) by any other means acceptable to the Committee, provided, however, that
the Committee may in its absolute discretion limit the Participant’s ability to exercise an Option
by a cashless or net exercise or by delivering such shares; and further provided, however, that the
Corporation shall not, directly or indirectly, extend or maintain credit, or arrange for the
extension of credit, in the form of a personal loan to or for any director or executive officer of
the Corporation, under any exercise method sanctioned above or otherwise, in violation of Section
402 of the Sarbanes-Oxley Act of 2002. Shares of Common Stock used to satisfy the exercise price of
an Option shall be valued at their Fair Market Value on the date of exercise.

     4.4 Option Period and Exercisability.

     Each Option granted under this Article 4 and all rights or obligations thereunder shall expire
five years after the Award Date and shall be subject to earlier termination as provided below. Each
Option granted under Section 4.2 shall be fully vested and exercisable as of the applicable Award
Date.

     4.5 Termination of Directorship.

     Unless otherwise provided in the Award Agreement, if a Non-Employee Director’s services as a
member of the Board of Directors terminate for any reason, an Option granted pursuant to this
Article held by such Participant

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shall remain exercisable for six months after the date of such termination or until the
expiration of the stated term of such Option, whichever first occurs.

     4.6 Adjustments.

     Options granted under this Article 4 shall be subject to adjustment as provided in Section
5.2.

     4.7 Termination Upon a Change in Control or Other Event.

     Each Option granted under this Article 4 is subject to termination in accordance with Section
5.2.

5. OTHER PROVISIONS

     5.1 Rights of Eligible Persons, Participants and Beneficiaries.

     (a) Employment Status. Status as an Eligible Person shall not be construed as a commitment
that any Award will be made under this Plan to an Eligible Person or to Eligible Persons generally.

     (b) No Employment/Service Contract. Nothing contained in this Plan (or in any other documents
under this Plan or in any Award) shall confer upon any Eligible Employee or other Participant any
right to continue in the employ or other service of the Company, constitute any contract or
agreement of employment or other service or affect an employee’s status as an employee at will, nor
shall interfere in any way with the right of the Company to change a person’s compensation or other
benefits, or to terminate his or her employment or other service, with or without cause. Nothing in
this Section, however, is intended to adversely affect any express independent right of such person
under a separate employment or service contract other than an Award Agreement.

     (c) Plan Not Funded. Awards payable under this Plan shall be payable in shares or from the
general assets of the Corporation, and (except as provided in Section 1.4(c)) no special or
separate reserve, fund or deposit shall be made to assure payment of such Awards. No Participant,
Beneficiary or other person shall have any right, title or interest in any fund or in any specific
asset (including shares of Common Stock, except as expressly otherwise provided) of the Company by
reason of any Award hereunder. Neither the provisions of this Plan (or of any related documents),
nor the creation or adoption of this Plan, nor any action taken pursuant to the provisions of this
Plan shall create, or be construed to create, a trust of any kind or a fiduciary relationship
between the Company and any Participant, Beneficiary or other person. To the extent that a
Participant, Beneficiary or other person acquires a right to receive payment pursuant to any Award
hereunder, such right shall be no greater than the right of any unsecured general creditor of the
Company.

     5.2 Adjustments; Acceleration.

     (a) 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 of the Common Stock or assets of the
Corporation as an entirety (“asset sale”); then the Committee shall, in such manner, to such extent
(if any) and at such time as it deems appropriate and equitable in the circumstances:

     (1) proportionately adjust any or all of (a) the number and type of shares of Common Stock (or
other securities) that thereafter may be made the subject of Awards (including the specific maximum
number of shares subject to Awards granted to any one person in any year and such other maxima and
numbers of shares set forth elsewhere in this Plan), (b) the number, amount and type of shares of
Common Stock (or other securities or property) subject to any or all outstanding Awards, (c) the
grant, purchase, or exercise price of any or all outstanding Awards, (d) the securities, cash or
other property deliverable upon exercise of any outstanding Awards, or (e) (subject to limitations
under Section 5.10(c)) the performance standards appropriate to any outstanding Awards, or

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     (2) make provision for a cash payment or for the assumption, substitution or exchange of any
or all outstanding share-based Awards or the cash, securities or property deliverable to the holder
of any or all outstanding share-based Awards, based upon the distribution or consideration payable
to holders of the Common Stock upon or in respect of such event.

     The Committee may adopt such valuation methodologies for outstanding Awards as it deems
reasonable in the event of a cash or property settlement and, in the case of Options, Stock
Appreciation Rights or similar rights, but without limitation on other methodologies, may base such
settlement solely upon the excess if any of the per share amount payable upon or in respect of such
event over the exercise or strike price of the Award.

     In any of such events, the Committee may take such action prior to such event to the extent
that the Committee 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 shareholders generally.

     (b) Possible Early Termination of Accelerated Awards. Any Option or other right to acquire
Common Stock under this Plan that remains outstanding immediately prior to (1) a dissolution of the
Company, or (2) an event described in Section 5.2(a) in which the Company does not survive,
survives as a subsidiary of another company, or is acquired, or (3) the consummation of a Change of
Control Event shall terminate upon the consummation of such event, subject to any provision that
has been expressly made by the Board or the Committee, through a plan of reorganization or
otherwise, for the survival, substitution, assumption, exchange or other settlement of such Option
or right.

     (c) Acceleration of Awards Upon Change in Control. Unless prior to a Change in Control Event
the Committee determines that, upon its occurrence, benefits under any or all Awards shall not be
accelerated or determines that only certain or limited benefits under any or all Awards shall be
accelerated and the extent to which they shall be accelerated, or establishes a different time in
respect of such Event for such acceleration, then upon the occurrence of a Change in Control Event:

     (1) each Option shall become immediately exercisable, and

     (2) Restricted Stock shall immediately vest free of restrictions.

Any discretion with respect to these events shall be limited to the extent required by applicable
accounting requirements in the case of a transaction intended to be accounted for as a pooling of
interests transaction.

     The Committee may override the limitations on acceleration in this Section 5.2(c) by express
provision in the Award Agreement and may accord any Eligible Person a right to refuse any
acceleration, whether pursuant to the Award Agreement or otherwise, in such circumstances as the
Committee may approve. Any acceleration of Awards shall comply with applicable legal requirements
and, if necessary to accomplish the purposes of the acceleration or if the circumstances require,
may be deemed by the Committee to occur (subject to Section 5.2(d)), a limited period of time not
greater than 30 days before the event. Without limiting the generality of the foregoing, the
Committee may deem an acceleration to occur immediately prior to the applicable event and/or
reinstate the original terms of an Award if an event giving rise to an acceleration does not occur.

     (d) Possible Rescission of Acceleration. If the vesting of an Award has been accelerated
expressly in anticipation of an event or upon shareholder approval of an event and the Committee or
the Board later determines that the event will not occur, the Committee may rescind the effect of
the acceleration as to any then outstanding and unexercised or otherwise unvested Awards.

     (e) Committee Discretion to Accelerate Vesting and Cancel Awards. Notwithstanding anything
herein to the contrary, in anticipation of a Change in Control Event, the Committee may, in its
sole discretion and contrary to what may otherwise be provided herein, while taking into
consideration the accounting implications, if any, (i) accelerate the vesting and exercisability,
as applicable, of any or all outstanding Awards to any date within 30 days prior to or concurrent
with the occurrence of such Change in Control Event, (ii) shorten the term of

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outstanding Awards to the date of the occurrence of such Change in Control Event or (iii) cancel any
outstanding Awards and pay to the holders thereof, in cash or shares of Common Stock, the value of
such Awards based upon the price per share of Common Stock received or to be received by other
stockholders of the Corporation in the Change in Control Event.

     5.3 Effect of Termination of Service on Awards.

     (a) General. The Committee shall establish the effect of a termination of employment or
service on the rights and benefits under each Award under this Plan and in so doing may make
distinctions based upon, inter alia, the cause of termination and type of Award. Unless otherwise
specified, the date of termination shall be (1) the date of termination (for any reason whatsoever)
of the Participant’s employment by the Company, in the case of an Award granted to an employee; (2)
the date of termination of directorship in the case of an Award granted to or held by a director
(or former employee continuing in service as a director); or (3) the date of termination of
services to the Company, as determined by the Committee, in the case of an Other Eligible Person.
Notwithstanding the foregoing, the Committee may authorize by express provision in or amendment to
an Award an extension of the date of termination if a person’s status after grant changes from one
eligible category to another, or in other circumstances that the Committee deems appropriate.

     (b) Termination of Consulting or Affiliate Services. If the Participant is not an Eligible
Employee or director and provides services as an Other Eligible Person, the Committee shall be the
sole judge of whether the Participant continues to render services to the Company, unless a
contract or the Award otherwise provides. If in these circumstances the Company notifies the
Participant in writing that a termination of services of the Participant for purposes of this Plan
has occurred, then (unless the contract or Award otherwise expressly provides), the Participant’s
termination of services for purposes of this Plan shall be the date which is 10 days after the
Company’s mailing of the notice or, in the case of a termination for Cause, the date of the mailing
of the notice.

     (c) Effect on Unvested Awards. Unless otherwise provided in the applicable Award Agreement
and subject to the other provisions of this Plan, a Restricted Stock Award or Stock Unit Award, to
the extent such Award has not vested as of the applicable Severance Date shall terminate on the
Severance Date without further payment or benefit of any kind; and any Option theretofore
outstanding and not vested shall terminate. Vested Options are subject to the provisions of Section
2.6.

     (d) Events Not Deemed Terminations of Service. Unless Company policy or the Committee
otherwise provides, the employment relationship shall not be considered terminated in the case of
(i) sick leave, (ii) military leave, or (iii) any other leave of absence authorized by the Company
or the Committee; provided that unless reemployment upon the expiration of such leave is guaranteed
by contract or law, such leave is for a period of not more than 90 days. In the case of any
Eligible Employee on an approved leave of absence, continued vesting of the Award while on leave
from the employ of the Company may be suspended until the employee returns to service, unless the
Committee otherwise provides or applicable law otherwise requires. In no event shall an Award be
exercised after the expiration of the term set forth in the Award Agreement.

     (e) Effect of Change of Subsidiary Status. For purposes of this Plan and any Award, if an
entity ceases to be a Subsidiary a termination of employment or service shall be deemed to have
occurred with respect to each Eligible Person in respect of the Subsidiary who does not continue as
an Eligible Person in respect of another entity within the Company.

     5.4 Compliance with Laws.

     This Plan, the granting and vesting of Awards under this Plan, the offer, issuance and
delivery of shares of Common Stock, the acceptance of promissory notes and the payment of money
under this Plan or under Awards 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 Company, be necessary or advisable in connection therewith.
In addition, any securities delivered under this Plan may be subject to any special restrictions
that the Committee may require to preserve a pooling of interests under generally accepted
accounting principles. The

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person acquiring any securities under this Plan will, if requested by the Company, provide
such assurances and representations to the Company as the Committee may deem necessary or desirable
to assure compliance with all applicable legal and accounting
requirements.

     The obligation of the Corporation to make payment of Awards in shares of Common Stock or
otherwise shall be subject to all applicable laws, rules and regulations, and to such approvals by
governmental agencies as may be required. Notwithstanding any terms or conditions of any Award to
the contrary, the Corporation shall be under no obligation to offer to sell or to sell and shall be
prohibited from offering to sell or selling any shares of Common Stock pursuant to an Award unless
such shares have been properly registered for sale pursuant to the Securities Act with the
Commission and any applicable state securities laws or unless the Corporation has received the
advice of counsel, satisfactory to the Corporation, that such shares may be offered or sold without
such registration pursuant to an available exemption therefrom and the terms and conditions of such
exemption have been fully complied with. If the shares of Common Stock offered for sale or sold
under the Plan are offered or sold pursuant to an exemption from registration under the Securities
Act or any applicable state securities laws, the Corporation may restrict the transfer of such
shares and may legend the stock certificates representing such shares in such manner as it deems
advisable to ensure the availability of any such exemption.

     5.5 Tax Matters.

     Upon any exercise, vesting, or payment of any Award or upon the disposition of shares of
Common Stock acquired pursuant to the exercise of an Incentive Stock Option prior to satisfaction
of the holding period requirements of Section 422 of the Code, the Company shall have the right at
its option to (i) require the Participant (or Personal Representative or Beneficiary, as the case
may be) to pay or provide for payment of at least the minimum amount of any taxes which the Company
may be required to withhold with respect to such Award event or payment or (ii) deduct from any
amount payable in cash the minimum amount of any taxes which the Company may be required to
withhold with respect to such cash payment. In any case where a tax is required to be withheld in
connection with the delivery of shares of Common Stock under this Plan, the Committee may in its
sole discretion (subject to Section 5.4) grant (either at the time of grant of the Award or
thereafter) to the Participant the right to elect or may require, pursuant to such rules and
subject to such conditions as the Committee may establish, to have the Corporation reduce the
number of shares to be delivered by (or otherwise reacquire) the appropriate number of shares,
valued in a consistent manner at their Fair Market Value or at the sales price in accordance with
authorized procedures for cashless exercises, necessary to satisfy the minimum applicable
withholding obligation on exercise, vesting or payment. Shares in no event shall be withheld in
excess of the minimum number required for tax withholding under applicable law.

     5.6 Plan and Award Amendments, Termination and Suspension.

     (a) Board Authorization. The Board may, at any time, terminate or, from time to time, amend,
modify or suspend this Plan, in whole or in part. No Awards may be granted during any suspension of
this Plan or after termination of this Plan, but the Committee shall retain jurisdiction as to
Awards then outstanding in accordance with the terms of this Plan.

     (b) Shareholder Approval. To the extent then required under Sections 162, 422 or 424 of the
Code or any other applicable law, or deemed necessary or advisable by the Board, any amendment to
this Plan shall be subject to shareholder approval.

     (c) Amendments to Awards. Without limiting any other express authority of the Committee under
(but subject to) the express limits of this Plan, the Committee by agreement or resolution may
waive conditions of or limitations on Awards to Participants that the Committee in the prior
exercise of its discretion has imposed, without the consent of a Participant, and (subject to the
requirements of Sections 1.2(b) and 5.6(d)) may make other changes to the terms and conditions of
Awards.

     (d) Limitations on Amendments to Plan and Awards. No amendment, suspension or termination of
this Plan or change affecting any outstanding Award shall, without written consent of the
Participant, affect in any manner materially adverse to the Participant any rights or benefits of
the Participant or obligations of the Company under any Award granted under this Plan prior to the
effective date of such change. Changes contemplated by Section 5.2

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shall not be deemed to constitute changes or amendments for purposes of this Section 5.6.

     (e) Section 409A Compliance. To the extent that any payments or benefits provided hereunder
are considered deferred compensation subject to Section 409A of the Code, the Corporation intends
for all such payments and benefits provided or credited hereunder to comply with the standards for
nonqualified deferred compensation established by Section 409A of the Code (the “409A Standards”).
Notwithstanding anything herein or in any Award Agreement to the contrary, (i) to the extent that
any terms of this Plan would subject Participants to gross income inclusion, interest or an
additional tax pursuant to Section 409A of the Code, those terms are to that extent superseded by
the 409A Standards and (ii) the Corporation reserves the right to amend any Award granted or
credited hereunder, without the Participant’s consent, to cause such Awards to comply with or be
exempt from Section 409A of the Code.

     5.7 Privileges of Stock Ownership.

     Except as otherwise expressly authorized by the Committee or this Plan, a 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.

     5.8 Effective Date of the Plan.

     This Plan is effective as of September 24, 2001.

     5.9 Term of the Plan.

     No Award will be granted under this Plan after September 24, 2011 (the “termination date”).
Unless otherwise expressly provided in this Plan or in an applicable Award Agreement, any Award
granted prior to the termination date may extend beyond such date, and all authority of the
Committee with respect to Awards hereunder, including the authority to amend an Award, shall
continue during any suspension of this Plan and in respect of Awards outstanding on the termination
date.

     5.10 Governing Law/Construction/Severability.

     (a) Choice of Law. This Plan, the Awards, all documents evidencing Awards and all other
related documents shall be governed by, and construed in accordance with the laws of the State of
Delaware.

     (b) Severability. If a court of competent jurisdiction holds any provision invalid and
unenforceable, the remaining provisions of this Plan shall continue in effect.

     (c) Plan Construction.

     (1) Rule 16b-3. It is the intent of the Corporation that the Awards and transactions
permitted by Awards be interpreted in a manner that, in the case of Participants who are or may be
subject to Section 16 of the Exchange Act, satisfies the applicable requirements for exemptions
under Rule 16b-3. The exemption will not be available if the authorization of actions by any
Committee of the Board with respect to such Awards does not satisfy the applicable conditions of
Rule 16b-3. Notwithstanding the foregoing, the Corporation shall have no liability to any
Participant for Section 16 consequences of Awards or events under Awards.

     (2) Section 162(m). It is the further intent of the Corporation that (to the extent the
Corporation or Awards under this Plan may be or become subject to limitations on deductibility
under Section 162(m) of the Code), Options or SARs be granted with an exercise or base price not
less than Fair Market Value on the date of grant and performance-based awards under Section 5.2 of
this Plan that are granted to or held by a person subject to Section 162(m) of the Code will
qualify as performance-based compensation or otherwise be exempt from deductibility limitations
under Section 162(m) of the Code, to the extent that the authorization of the Award (or the payment
thereof, as the case may be) satisfies any applicable administrative requirements thereof.

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SERACARE LIFE SCIENCES, INC.

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     5.11 Captions.

     Captions and headings are given to the sections and subsections of this Plan solely as a
convenience to facilitate reference. Such headings shall not be deemed in any way material or
relevant to the construction or interpretation of this Plan or any provision thereof.

     5.12 Effect of Change of Subsidiary Status.

     For purposes of this Plan and any Award hereunder, if an entity ceases to be a Subsidiary, a
termination of employment and service shall be deemed to have occurred with respect to each
Eligible Person in respect of such Subsidiary who does not continue as an Eligible Person in
respect of another entity within the Company.

     5.13 Stock-Based Awards in Substitution for Stock Options or Awards Granted by Other
Corporation.

     Awards may be granted to Eligible Persons under this Plan in substitution for employee stock
options, Stock Appreciation Rights, restricted stock or other stock-based awards granted by other
entities to persons who are or who will become Eligible Persons in respect of the Company, in
connection with a distribution, merger or other reorganization by or with the granting entity or an
affiliated entity, or the acquisition by the Company, directly or indirectly, or all or a
substantial part of the stock or assets of the employing entity.

     5.14 Non-Exclusivity of Plan.

     Nothing in this Plan shall limit or be deemed to limit the authority of the Board or the
Committee to grant awards or authorize any other compensation, with or without reference to the
Common Stock, under any other plan or authority.

     5.15 No Corporate Action Restriction.

     The existence of the Plan, the Award Agreements and the Awards granted hereunder 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. No participant, beneficiary or any other person
shall have any claim under any Award or Award Agreement against any member of the Board or the
Committee, or the Corporation or any employees, officers or agents of the Corporation or any
Subsidiary, as a result of any such action.

     5.16 Other Company Benefit and Compensation Program.

     Payments and other benefits received by a Participant under an Award made pursuant to this
Plan shall not be deemed a part of a Participant’s compensation for purposes of the determination
of benefits under any other employee welfare or benefit plans or arrangements, if any, provided by
the Corporation or any Subsidiary, except where the Committee or the Board expressly otherwise
provides or authorizes in writing. Awards under this Plan may be made in addition to, in
combination with, as alternatives to or in payment of grants, awards or commitments under any other
plans or arrangements of the Company or the Subsidiaries.

6. DEFINITIONS.

     6.1 Definitions.

     (a) “Award” means an award of any Option, Stock Appreciation Right, Restricted Stock, Stock
Unit, Stock

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SERACARE LIFE SCIENCES, INC.

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(as amended)

Bonus, dividend equivalent or deferred payment right or other right or security that would
constitute a “derivative security” under Rule 16a-1(c) of the Exchange Act, or any combination
thereof, whether alternative or cumulative, authorized by and granted under this Plan.

     (b) “Award Agreement” means any writing setting forth the terms of an Award that has been
authorized by the Committee.

     (c) “Award Date” means the date upon which the Committee took the action granting an Award or
such later date as the Committee designates as the Award Date at the time of the Award.

     (d) “Award Period” means the period beginning on an Award Date and ending on the expiration
date of such Award.

     (e) “Beneficiary” means the person, persons, trust or trusts designated by a Participant or,
in the absence of a designation, entitled by will or the laws of descent and distribution, to
receive the benefits specified in the Award Agreement and under this Plan in the event of a
Participant’s death, and shall mean the Participant’s executor or administrator if no other
Beneficiary is designated and able to act under the circumstances.

     (f) “Board” means the Board of Directors of the Corporation.

     (g) “Cause” with respect to a Participant means (unless otherwise expressly provided in the
applicable Award Agreement or another applicable contract with the Participant) a termination of
service based upon a finding by the Committee acting in good faith and based on its reasonable
belief at the time, that the Participant:

     (1) has been negligent in the discharge of his or her duties to the Company, has refused to
perform stated or assigned duties or is incompetent in or incapable of performing those duties; or

     (2) has been dishonest or committed or engaged in an act of theft, embezzlement or fraud, a
breach of confidentiality, an unauthorized disclosure or use of inside information, customer lists,
trade secrets or other confidential information; has breached a fiduciary duty, or willfully and
materially violated any other duty, law, rule, regulation or policy of the Company or an affiliate;
or has been convicted of a felony or misdemeanor (other than minor traffic violations or similar
offenses); or

     (3) has materially breached any of the provisions of any agreement with the Company or an
affiliated entity; or

     (4) has engaged in unfair competition with, or otherwise acted intentionally in a manner
injurious to the reputation, business or assets of, the Company or an affiliate; has improperly
induced a vendor or customer to break or terminate any contract with the Company or an affiliate or
induced a principal for whom the Company or an affiliate acts as agent to terminate such agency
relationship.

A termination for Cause shall be deemed to occur (subject to reinstatement upon a contrary final
determination by the Committee) on the date on which the Company first delivers written notice to
the Participant of a finding of termination for Cause.

     (h) “Change in Control Event” means any of the following:

     (1) The dissolution or liquidation of the Corporation, other than in the context of a
transaction that does not constitute a Change in Control Event under clause (2) below.

     (2) 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 (A) 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

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SERACARE LIFE SCIENCES, INC.

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substantially the same proportions, by shareholders of the Corporation immediately before the
Business Combination; and (B) no person (as defined in clause (h)(3) below, but excluding the
Successor Entity or an Excluded Person) beneficially owns, directly or indirectly, more than 50% of
the outstanding shares of the combined voting power of the outstanding voting securities of the
Successor Entity, after giving effect to the Business Combination, except to the extent that such
ownership existed prior to the Business Combination; and (C) at least 50% of the members of the
board of directors of the entity resulting from the Business Combination were members of the Board
at the time of the execution of the initial agreement or of the action of the Board approving the
Business Combination.

     (3) Any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) other
than an Excluded Person becomes the beneficial owner (as defined in Rule 13d-3 under the Exchange
Act), directly or indirectly, of securities of the Corporation representing more than 50% of the
combined voting power of the Corporation’s then outstanding securities entitled to then vote
generally in the election of directors of the Corporation, other than as a result of (A) an
acquisition directly from the Company, (B) an acquisition by the Company, (C) an acquisition by any
employee benefit plan (or related trust) sponsored or maintained by the Company or a Successor
Entity, or an acquisition by any entity pursuant to a transaction which is expressly excluded under
clause (h)(2) above.

     (4) During any period not longer than two consecutive years, individuals who at the beginning
of such period constituted the Board cease to constitute at least a majority thereof, unless the
election, or the nomination for election by the Corporation’s shareholders, of each new Board
member was approved by a vote of at least two-thirds of the Board members then still in office who
were Board members at the beginning of such period (including for these purposes, new members whose
election or nomination was so approved), but excluding, for this purpose, any such individual whose
initial assumption of office occurs as a result of an actual or threatened election contest with
respect to the election or removal of directors or other actual or threatened solicitation of
proxies or consents by or on behalf of a person other than the Board.

     (i) “Code” means the Internal Revenue Code of 1986, as amended from time to time.

     (j) “Commission” means the Securities and Exchange Commission.

     (k) “Committee” means the Board or one or more committees appointed by the Board to administer
all or certain aspects of this Plan, each committee to be comprised solely of one or more directors
or such number as may be required under applicable law. Each member of a Committee in respect of
his or her participation in any decision with respect to an Award intended to satisfy the
requirements of Section 162(m) of the Code must satisfy the requirements of “outside director”
status within the meaning of Section 162(m) of the Code; provided, however, that the failure to
satisfy such requirement shall not affect the validity of the action of any committee otherwise
duly authorized and acting in the matter. As to Awards, grants or other transactions that are
authorized only by a committee and that are intended to be exempt under Rule 16b-3, the
requirements of Rule 16b-3(d)(1) with respect to committee action must also be satisfied.

     (l) “Common Stock” means the Common Stock of the Corporation and such other securities or
property as may become the subject of Awards, or become subject to Awards, pursuant to an
adjustment made under Section 5.2 of this Plan.

     (m) “Company” means, collectively, the Corporation and its Subsidiaries.

     (n) “Corporation”
means SeraCare Life Sciences, Inc., a California corporation, and its
successors.

     (o) “Eligible Employee” means an officer (whether or not a director) or employee of the
Company.

     (p) “Eligible Person” means an Eligible Employee, Non-Employee Director or any Other Eligible
Person designated by the Committee in its discretion.

     (q) “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time.

15

 

SERACARE LIFE SCIENCES, INC.

AMENDED AND RESTATED 2001 STOCK INCENTIVE PLAN

(as amended)

     (r) “Excluded Person” means (1) any person described in and satisfying the conditions of Rule
13d-1(b)(1) under the Exchange Act, (2) the Company, or (3) an employee benefit plan (or related
trust) sponsored or maintained by the Company or the Successor Entity.

     (s) “Fair Market Value” on any date means (1) 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; or (2) if the stock is not listed or admitted to trade on a national securities
exchange and representative quotes are not otherwise available, the value as established by the
Committee to be the fair market value based upon a good faith attempt to value the Common Stock
accurately for purposes of this Plan.

     (t) “Incentive Stock Option” means an Option which is intended, as evidenced by its
designation, as an incentive stock option within the meaning of Section 422 of the Code, the award
of which contains such provisions (including but not limited to the receipt of shareholder approval
of this Plan, if the Award is made prior to such approval) and is made under such circumstances and
to such persons as may be necessary to comply with that section.

     (u) “Nonqualified Stock Option” means an Option that is designated as a Nonqualified Stock
Option and shall include any Option intended as an Incentive Stock Option that fails to meet the
applicable legal requirements thereof. Any Option granted hereunder that is not designated as an
incentive stock option shall be deemed to be designated a nonqualified stock option under this Plan
and not an incentive stock option under the Code.

     (v) “Non-Employee Director” means a member of the Board of Directors of the Corporation who is
not an officer or employee of the Company.

     (w) “Option” means an option to purchase Common Stock granted under this Plan. The Committee
shall designate any Option granted to an Eligible Person as a Nonqualified Stock Option or an
Incentive Stock Option.

     (x) “Other Eligible Person” means any Non-Employee Director or any individual consultant or
advisor who renders or has rendered bona fide services (other than services in connection with the
offering or sale of securities of the Company in a capital raising transaction or as a market maker
or promoter of the Company’s securities) to the Company, and who is selected to participate in this
Plan by the Committee. An advisor or consultant may be selected as an Other Eligible Person only if
such person’s participation in this Plan would not adversely affect (1) the Corporation’s
eligibility to use Form S-8 to register under the Securities Act of 1933, as amended, the offering
of shares issuable under this Plan by the Company or (2) the Corporation’s compliance with any
other applicable laws.

     (y) “Participant” means an Eligible Person who has been granted an Award under this Plan.

     (z) “Personal Representative” means the person or persons who, upon the disability or
incompetence of a Participant, shall have acquired on behalf of the Participant, by legal
proceeding or otherwise, the power to exercise the rights or receive benefits under this Plan and
who shall have become the legal representative of the Participant.

     (aa) “Plan” means this 2001 Stock Incentive Plan, as it may be amended from time to time.

     (bb) “QDRO” means a qualified domestic relations order.

     (cc) “Restricted Shares” or “Restricted Stock” means shares of Common Stock awarded to a
Participant under this Plan, subject to payment of such consideration, if any, and such conditions
on vesting (which may include, among others, the passage of time, specified performance objectives
or other factors) and such transfer and other restrictions as are established in or pursuant to
this Plan and the related Award Agreement, for so long as such shares remain unvested under the
terms of the applicable Award Agreement.

16

 

SERACARE LIFE SCIENCES, INC.

AMENDED AND RESTATED 2001 STOCK INCENTIVE PLAN

(as amended)

     (dd) “Retirement” means retirement with the consent of the Company or, from active service as
an employee
or officer of the Company on or after attaining age 55 with 10 or more years of service or
after age 65.

     (ee) “Rule 16b-3” means Rule 16b-3 as promulgated by the Commission pursuant to the Exchange
Act, as amended from time to time.

     (ff) “Section 16 Person” means a person subject to Section 16(a) of the Exchange Act.

     (gg) “Securities Act” means the Securities Act of 1933, as amended from time to time.

     (hh) “Severance Date” means the date of termination of employment or service as further
defined in Section 5.3.

     (ii) “Stock Appreciation Right” means a right authorized under this Plan to receive a number
of shares of Common Stock or an amount of cash, or a combination of shares and cash, the aggregate
amount or value of which is determined by reference to a change in the Fair Market Value of the
Common Stock.

     (jj) “Stock
Bonus” means an Award of shares of Common Stock granted
under this Plan for no consideration other than past services and without restriction other than such transfer or other
restrictions as the Committee may deem advisable to assure compliance with law.

     (kk) “Stock Unit” means a bookkeeping entry which serves as a unit of measurement relative to
a share of Common Stock for purposes of determining the payment, in Common Stock or cash, of an
Award, including a deferred benefit or right under this Plan. Stock Units are not outstanding
shares and do not entitle a Participant to any dividend, voting or other rights in respect of any
Common Stock represented thereby or acquirable thereunder. Stock Units, may, however, by express
provision in the applicable Award Agreement, entitle a Participant to dividend equivalent rights,
as defined by the Committee.

     (ll) “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.

     (mm) “Total Disability” means a “permanent and total disability” within the meaning of Section
22(e)(3) of the Code and such other disabilities, infirmities, afflictions or conditions as the
Committee by rule may include.

17

 

SERACARE LIFE SCIENCES, INC.

AMENDED AND RESTATED 2001 STOCK INCENTIVE PLAN

(as amended)

Amendment to the Amended and Restated 2001 Stock Incentive Plan

June 18, 2008

The Amended and Restated 2001 Stock Incentive Plan shall be amended as follows:

First, under Section 6.1, definition (n) “Corporation” shall be amended to read in its entirety as
follows:

     (n) “Corporation” means SeraCare Life Sciences, Inc., a Delaware corporation, and its
successors.

Second, under Section 6.1, definition (jj) “Stock Bonus” shall be amended to read in its entirety
as follows:

     (jj) “Stock Bonus” means an Award of shares of Common Stock granted under this Plan for lawful
consideration and without restriction other than such transfer or other restrictions as the
Committee may deem advisable to assure compliance with law.exv10w1

Exhibit 10.1

EMPLOYMENT AGREEMENT

     This AGREEMENT (the “Agreement”) is made as of June 16, 2008 (the “Effective Date”), by and
between EPIX Pharmaceuticals, Inc. (the “Employer”), and Chen Schor (the “Executive”). In
consideration of the mutual covenants contained in this Agreement, the Employer and the Executive
agree as follows:

     1. Employment. The Employer agrees to employ the Executive and the Executive agrees
to be employed by the Employer on the terms and conditions set forth in this Agreement.

     2. Capacity. The Executive shall initially serve the Employer as Chief Business
Officer, subject to election by the Board of Directors of the Employer (the “Board of Directors”).
As Chief Business Officer, the Executive shall have authority and responsibility for leading and
overseeing all corporate and business development and licensing initiatives and activities of the
Employer and, subject to the determination of the Board of Directors, shall constitute an officer
position pursuant to Section 16 of the Securities Exchange Act of 1934, as amended. The Executive
shall also serve the Employer in such other or additional offices as the Executive may be requested
to serve by the Board of Directors or by the CEO. In such capacity or capacities, the Executive
shall perform such services and duties in connection with the business, affairs and operations of
the Employer as may be assigned or delegated to the Executive from time to time by or under the
authority of the Board of Directors or by the CEO. The Executive shall work at the Employer’s
Lexington, Massachusetts office.

     3. Term. Subject to the provisions of Section 6, the Executive’s employment is “at
will” and may be terminated by either the Company or Executive for any reason, or for no reason, at
any time.

     4. Compensation and Benefits. The regular compensation and benefits payable to the
Executive under this Agreement shall be as follows:

          (a) Salary. For all services rendered by the Executive under this Agreement, the
Employer shall pay the Executive a salary (the “Salary”) at the annual rate of of two hundred sixty
two thousand, four hundred and fourty four dollars ($262,444) subject to increase from time to time
in the discretion of the Board of Directors or the Compensation Committee of the Board of Directors
(the “Compensation Committee”). The Salary shall be payable in periodic installments in accordance
with the Employer’s usual practice for its senior executives.

          (b) Bonus. Beginning with the fiscal year ending December 31, 2008, the Executive
shall be eligible for an annual bonus under terms established by the Board of Directors or the
Compensation Committee with such terms as may be established in the sole discretion of the Board of
Directors or Compensation Committee. Bonus payments for each fiscal year, as approved by the Board
of Directors or Compensation Committee, shall be paid between January 1 and March 15 of the
following fiscal year.

          (c) Stock Options. In consideration of the covenants contained in this Agreement, the
Executive has received a grant of stock options in accordance with the

 

 

Employer’s Stock Option Plan
and will continue to be eligible to receive stock option grants annually . That grant is subject
to the terms and conditions of the Employer’s Stock Option Plan, and any relevant grant agreement.

          (d) Regular Benefits. The Executive shall also be entitled to participate in any
employee benefit plans, medical insurance plans, life insurance plans, disability income plans,
retirement plans, expense reimbursement plans and other benefit plans which the Employer may from
time to time have in effect for all or most of its senior executives. Such participation shall be
subject to the terms of the applicable plan documents, generally applicable policies of the
Employer, applicable law and the discretion of the Board of Directors, the Compensation Committee
or any administrative or other committee provided for in or contemplated by any such plan. Nothing
contained in this Agreement shall be construed to create any obligation on the part of the Employer
to establish any such plan or to maintain the effectiveness of any such plan which may be in effect
from time to time.

          (e) Taxation of Payments and Benefits. The Employer shall undertake to make
deductions, withholdings and tax reports with respect to payments and benefits under this Agreement
to the extent that it reasonably and in good faith believes that it is required to make such
deductions, withholdings and tax reports. Payments under this Agreement shall be in amounts net of
any such deductions or withholdings. Nothing in this Agreement shall be construed to require the
Employer to make any payments to compensate the Executive for any adverse tax effect associated
with any payments or benefits or for any deduction or withholding from any payment or benefit.

          (f) The Employer shall reimburse the Executive for up to $5,000 in legal fees incurred in
connection with the negotiation and drafting of this Agreement.

     5. Extent of Service. During the Executive’s employment under this Agreement, the
Executive shall, subject to the direction and supervision of the Board of Directors or the Chief
Executive Officer, devote the Executive’s full business time, best efforts and business judgment,
skill and knowledge to the advancement of the Employer’s interests and to the discharge of the
Executive’s duties and responsibilities under this Agreement. The Executive shall not engage in
any other business activity, including service as a director, board member or consultant to any
other entity, except as may be approved in advance, in writing, by the Board of Directors; provided
that nothing in this Agreement shall be construed as preventing the Executive from:

          (a) investing the Executive’s assets in any company or other entity in a manner not prohibited
by Section 7(d) and in such form or manner as shall not require any material activities on the
Executive’s part in connection with the operations or affairs of the companies or other entities in
which such investments are made; or

          (b) engaging in religious, charitable or other community or non-profit activities that do not
impair the Executive’s ability to fulfill the Executive’s duties and responsibilities under this
Agreement.

     6. Termination and Termination Benefits. The Executive’s employment under this
Agreement shall terminate under the following circumstances set forth in this Section 6.

2

 

          (a) Termination by the Employer for Cause. The Executive’s employment under this
Agreement may be terminated for Cause without further liability on the part of the Employer
effective immediately upon a vote of the Board of Directors and written notice to the Executive.
Only the following shall constitute “Cause” for such termination:

          (i) dishonesty of the Executive that is material to the business of the Employer;

          (ii) the commission or indictment of the Executive for (A) a felony or (B) any
misdemeanor involving moral turpitude, deceit, dishonesty or fraud;

          (iii) material failure to perform to the reasonable satisfaction of the Board of
Directors a substantial portion of the Executive’s duties and responsibilities assigned or
delegated under this Agreement, which failure continues, in the reasonable judgment of the
Board of Directors, for at least thirty (30) days after written notice given to the
Executive by the Board of Directors or the Chief Executive Officer

          (iv) gross negligence, willful misconduct or insubordination of the Executive with
respect to the Employer or any affiliate of the Employer; or

          (v) material breach by the Executive of any of the Executive’s obligations under this
Agreement.

          (b) Termination by the Executive. The Executive’s employment under this Agreement may
be terminated by the Executive without Good Reason (as defined below) by written notice to the
Board of Directors at least sixty (60) days prior to such termination. The Executive’s employment
under this Agreement may be terminated by the Executive with Good Reason at any time. For the
purposes of this Agreement, Good Reason shall mean that the Executive has complied with the “Good
Reason Process” (hereinafter defined) following the occurrence of any of the following events: (i)
a material reduction of the Executive’s responsibilities, duties or authority, (ii) a material
reduction in the Executive’s Salary, or (iii) the relocation of the Executive’s primary place of
employment to a location more than 100 miles from Lexington, Massachusetts. “Good Reason Process”
shall mean that (1) the Executive reasonably determines in good faith that a “Good Reason”
condition has occurred; (2) the Executive notifies the Employer in writing of the occurrence of the
Good Reason condition within 60 days of the occurrence of such condition; (3) the Executive
cooperates in good faith with the Employer’s efforts, for a period not less than 30 days following
such notice (the “Cure Period”), to remedy the condition; (4) notwithstanding such efforts, the
Good Reason condition continues to exist; and (5) the Executive terminates his/her employment
within 60 days after the end of the Cure Period. If the Employer cures the Good Reason condition
during the Cure Period, Good Reason shall be deemed not to have occurred.

          (c) Termination by the Employer Without Cause. Subject to the payment of Termination
Benefits pursuant to Section 6(d), the Executive’s employment under this Agreement may be
terminated by the Employer without Cause upon 30 days’ written notice to
the Executive. The Executive’s employment shall not be considered to be terminated without

3

 

Cause if the Executive’s employment terminates by reason of death or disability pursuant to Section
6(e).

          (d) Certain Termination Benefits. Unless otherwise specifically provided in this
Agreement or otherwise required by law, all compensation and benefits payable to the Executive
under this Agreement shall terminate on the date of termination of the Executive’s employment under
this Agreement. Notwithstanding the foregoing, in the event of termination of the Executive’s
employment with the Employer pursuant to Section 6(c) above or termination by the Executive with
Good Reason pursuant to Section 6(b) above, the Employer shall provide to the Executive the
following termination benefits (“Termination Benefits”), provided that the Executive executes (and
does not revoke) a valid and enforceable separation agreement and release of claims (the “Release”)
in a form acceptable to the Employer, within the time frame set forth in the Release which shall
not exceed 45 days of the receipt of the Release:

          (i) a lump sum equal to 12 months Salary (at the rate then in effect pursuant to
Section 4(a)), payable in the next regular pay period that occurs more than 30 days
following the date of termination of the Executive’s employment under this Agreement; and

          (ii) continuation of group health plan benefits to the extent authorized by and
consistent with 29 U.S.C. § 1161 et seq. (commonly known as “COBRA”), with the cost of the
regular premium for such benefits shared in the same relative proportion by the Employer and
the Executive as in effect on the date of termination until 12 months after the date of
termination. Notwithstanding the foregoing, nothing in this Section 6(d) shall be construed
to affect the Executive’s right to receive COBRA continuation entirely at the Executive’s
own cost to the extent that the Executive may continue to be entitled to COBRA continuation
after the Executive’s right to cost sharing under Section 6(d)(ii) ceases; and

          (iii) that portion of his or her bonus as had been accrued by the Employer in
accordance with generally accepted accounting principles as of the end of the fiscal quarter
immediately preceding such termination. This portion of the bonus will be paid to the
Executive at the time the Employer pays bonuses to other senior employees, provided that it
shall be paid no later than March 14 of the calendar year immediately following the calendar
year during which termination of employment occurs.  

          (iv) If the Release is not executed (without revocation) within the time provided
above, or (y) the Executive violates any provision of Section 7, below, the Executive shall
forfeit all rights to any Termination Benefits under this Agreement.

     (e) Disability. The Employer may terminate the Executive’s employment if he is
disabled and unable to perform the essential functions of the Executive’s then existing position or
positions under this Agreement with or without reasonable accommodation for a period of 180 days
(which need not be consecutive) in any 12-month period. Until the Executive’s employment is
terminated, the Executive will continue to receive payment from the
Employer, which when added to any sick pay or disability pay, shall equal his Salary. Upon

4

 

such termination, the Executive shall be entitled to receive a pro rata share of his bonus for the
fiscal year in which termination occurs pursuant to Section 4(b) above. This pro rata bonus shall
be paid to the Executive at the time the Employer pays bonuses to other senior employees, provided
that it shall be paid no later than March 14 of the calendar year immediately following the
calendar year during which termination of employment occurs.

     If any question shall arise as to whether during any period the Executive is disabled so as to
be unable to perform the essential functions of the Executive’s then existing position or positions
with or without reasonable accommodation, the Executive may, and at the request of the Employer
shall, submit to the Employer a certification in reasonable detail by a physician selected by the
Employer to whom the Executive or the Executive’s guardian has no reasonable objection as to
whether the Executive is so disabled or how long such disability is expected to continue, and such
certification shall for the purposes of this Agreement be conclusive of the issue. The Executive
shall cooperate with any reasonable request of the physician in connection with such certification.
If such question shall arise and the Executive shall fail to submit such certification, the
Employer’s determination of such issue shall be binding on the Executive. Nothing in this Section
shall be construed to waive the Executive’s rights, if any, under existing law including, without
limitation, the Family and Medical Leave Act of 1993, 29 U.S.C. §2601 et seq. and the Americans
with Disabilities Act, 42 U.S.C. §12101 et seq

     7. Confidential Information, Noncompetition and Cooperation.

          (a) Confidential Information. As used in this Agreement, “Confidential Information”
means information belonging to the Employer which is of value to the Employer in the course of
conducting its business and the disclosure of which could result in a competitive or other
disadvantage to the Employer. Confidential Information includes, without limitation, financial
information, reports, and forecasts; inventions, improvements and other intellectual property;
trade secrets; know-how; designs, processes or formulae; software; market or sales information or
plans; customer lists; and business plans, prospects and opportunities (such as possible
acquisitions or dispositions of businesses or facilities) which have been discussed or considered
by the management of the Employer. Confidential Information includes information developed by the
Executive in the course of the Executive’s employment by the Employer, as well as other information
to which the Executive may have access in connection with the Executive’s employment. Confidential
Information also includes the confidential information of others with which the Employer has a
business relationship. Notwithstanding the foregoing, Confidential Information does not include
information in the public domain, unless due to breach of the Executive’s duties under Section
7(b).

          (b) Confidentiality. The Executive understands and agrees that the Executive’s
employment creates a relationship of confidence and trust between the Executive and the Employer
with respect to all Confidential Information. At all times, both during the Executive’s employment
with the Employer and after its termination, the Executive will keep in confidence and trust all
such Confidential Information, and will not use or disclose any such Confidential Information
without the written consent of the Employer, except as may be necessary in the ordinary course of
performing the Executive’s duties to the Employer.

5

 

          (c) Documents, Records, etc. All documents, records, data, apparatus, equipment and
other physical property, whether or not pertaining to Confidential Information, which are furnished
to the Executive by the Employer or are produced by the Executive in connection with the
Executive’s employment will be and remain the sole property of the Employer. The Executive will
return to the Employer all such materials and property as and when requested by the Employer. In
any event, the Executive will return all such materials and property immediately upon termination
of the Executive’s employment for any reason. The Executive will not retain with the Executive any
such material or property or any copies thereof after such termination.

          (d) Noncompetition and Nonsolicitation. During the Executive’s employment with the
Company and for one year thereafter (or, if longer, for the number of months’ salary paid as
severance, as defined in Section 6(d)(i)), the Executive will not, directly or indirectly, whether
as owner, partner, shareholder, consultant, agent, employee, co-venturer or otherwise, engage,
participate, assist or invest in any Competing Business (as hereinafter defined).During the
Executive’s employment with the Company and for two years thereafter, the Executive (i) will
refrain from attempting to employ, recruiting or otherwise soliciting, inducing or influencing any
person to leave employment with the Employer (other than terminations of employment of subordinate
employees undertaken in the course of the Executive’s employment with the Employer); and (ii) will
refrain from soliciting or encouraging any customer or supplier to terminate or otherwise modify
adversely its business relationship with the Employer. The Executive understands that the
restrictions set forth in this Section 7(d) are intended to protect the Employer’s interest in its
Confidential Information and established employee, customer and supplier relationships and
goodwill, and agrees that such restrictions are reasonable and appropriate for this purpose. For
purposes of this Agreement, the term “Competing Business” shall mean a business with a primary
focus on discovering drugs targeting GPCR’s through the use of in silico discovery and development
technologies. Notwithstanding the foregoing, the Executive may own up to one percent (1%) of the
outstanding stock of a publicly held corporation which constitutes or is affiliated with a
Competing Business.

          (e) Third-Party Agreements and Rights. The Executive hereby confirms that the
Executive is not bound by the terms of any agreement with any previous employer or other party
which restricts in any way the Executive’s use or disclosure of information or the Executive’s
engagement in any business. The Executive represents to the Employer that the Executive’s
execution of this Agreement, the Executive’s employment with the Employer and the performance of
the Executive’s proposed duties for the Employer will not violate any obligations the Executive may
have to any such previous employer or other party. In the Executive’s work for the Employer, the
Executive will not disclose or make use of any information in violation of any agreements with or
rights of any such previous employer or other party, and the Executive will not bring to the
premises of the Employer any copies or other tangible embodiments of non-public information
belonging to or obtained from any such previous employment or other party.

          (f) Litigation and Regulatory Cooperation. During and after the Executive’s
employment, the Executive shall cooperate fully with the Employer in the defense or prosecution of
any claims or actions now in existence or which may be brought in the future against or on behalf
of the Employer which relate to events or occurrences that transpired while the Executive

6

 

was employed by the Employer. The Executive’s full cooperation in connection with such claims
or actions shall include, but not be limited to, being available to meet with counsel to prepare
for discovery or trial and to act as a witness on behalf of the Employer at mutually convenient
times. During and after the Executive’s employment, the Executive also shall cooperate fully with
the Employer in connection with any investigation or review of any federal, state or local
regulatory authority as any such investigation or review relates to events or occurrences that
transpired while the Executive was employed by the Employer. The Employer shall reimburse the
Executive for any reasonable out-of-pocket expenses and time (at a mutually agreed upon rate)
incurred in connection with the Executive’s performance of obligations pursuant to this Section
7(f).

          (g) Injunction. The Executive agrees that it would be difficult to measure any
damages caused to the Employer which might result from any breach by the Executive of the promises
set forth in this Section 7, and that in any event money damages would be an inadequate remedy for
any such breach. Accordingly, subject to Section 8 of this Agreement, the Executive agrees that if
the Executive breaches, or proposes to breach, any portion of this Agreement, the Employer shall be
entitled, in addition to all other remedies that it may have, to an injunction or other appropriate
equitable relief to restrain any such breach, without showing or proving any actual damage to the
Employer.

     8. Arbitration of Disputes. Any controversy or claim arising out of this Agreement
or the breach thereof shall, to the fullest extent permitted by law, be settled by arbitration in
any forum and form agreed upon by the parties or, in the absence of such an agreement, under the
auspices of the American Arbitration Association (“AAA”) in Boston, Massachusetts in accordance
with the Employment Dispute Resolution Rules of the AAA, including, but not limited to, the rules
and procedures applicable to the selection of arbitrators. In the event that any person or entity
other than the Executive or the Employer may be a party with regard to any such controversy or
claim, such controversy or claim shall be submitted to arbitration subject to such other person or
entity’s agreement. Judgment upon the award rendered by the arbitrator may be entered in any court
having jurisdiction thereof. This Section 8 shall be specifically enforceable. Notwithstanding the
foregoing, this Section 8 shall not preclude either party from pursuing a court action for the sole
purpose of obtaining a temporary restraining order or a preliminary injunction in circumstances in
which such relief is appropriate; provided that any other relief shall be pursued through an
arbitration proceeding pursuant to this Section 8.

     9. Consent to Jurisdiction. To the extent that any court action is permitted
consistent with or to enforce Section 8 of this Agreement, the parties hereby consent to the
jurisdiction of the Superior Court of the Commonwealth of Massachusetts and the United States
District Court for the District of Massachusetts. Accordingly, with respect to any such court
action, the Executive (a) submits to the personal jurisdiction of such courts; (b) consents to
service of process; and (c) waives any other requirement (whether imposed by statute, rule of
court, or otherwise) with respect to personal jurisdiction or service of process.

     10. Integration. This Agreement, together with any stock option plans and grants,
constitutes the entire agreement between the parties with respect to the subject matter hereof and
supersedes all prior agreements between the parties with respect to any related subject matter.

7

 

     11. Section 409A.

          (a) Anything in this Agreement to the contrary notwithstanding, if at the time of the
Executive’s separation from service within the meaning of Section 409A of the Internal Revenue Code
of 1986, as amended, and the regulations thereunder (the “Code”), the Employer determines that the
Executive is a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code,
then to the extent any payment or benefit that the Executive becomes entitled to under this
Agreement would be considered deferred compensation subject to the 20 percent additional tax
imposed pursuant to Section 409A(a) of the Code as a result of the application of Section
409A(a)(2)(B)(i) of the Code, such payment shall not be payable and such benefit shall not be
provided until the date that is the earlier of (A) six months and one day after the Executive’s
separation from service, or (B) the Executive’s death. The determination of whether and when a
separation from service has occurred shall be made in accordance with the presumptions set forth in
Treasury Regulation Section 1.409A-1(h).

          (b) The parties intend that this Agreement will be administered in accordance with Section
409A of the Code. To the extent that any provision of this Agreement is ambiguous as to its
compliance with Section 409A of the Code, the provision shall be read in such a manner so that all
payments hereunder comply with Section 409A of the Code. The parties agree that this Agreement may
be amended, as reasonably requested by either party, and as may be necessary to fully comply with
Section 409A of the Code and all related rules and regulations in order to preserve the payments
and benefits provided hereunder without additional cost to either party.

          (c) The Employer makes no representation or warranty and shall have no liability to the
Executive or any other person if any provisions of this Agreement are determined to constitute
deferred compensation subject to Section 409A of the Code but do not satisfy an exemption from, or
the conditions of, such Section.

     12. Assignment; Successors and Assigns. Neither the Employer nor the Executive may
make any assignment of this Agreement or any interest herein, by operation of law or otherwise,
without the prior written consent of the other party; provided that the Employer may assign its
rights under this Agreement without the consent of the Executive in the event that the Employer
shall effect a reorganization, consolidate with or merge into any other corporation, partnership,
organization or other entity, or transfer all or substantially all of its properties or assets to
any other corporation, partnership, organization or other entity. This Agreement shall inure to
the benefit of and be binding upon the Employer and the Executive, their respective successors,
executors, administrators, heirs and permitted assigns.

     13. Enforceability. If any portion or provision of this Agreement (including, without
limitation, any portion or provision of any section of this Agreement) shall to any extent be
declared illegal or unenforceable by a court of competent jurisdiction, then the remainder of this
Agreement, or the application of such portion or provision in circumstances other than those as to
which it is so declared illegal or unenforceable, shall not be affected thereby, and each portion
and provision of this Agreement shall be valid and enforceable to the fullest extent permitted by
law.

8

 

     14. Waiver. No waiver of any provision hereof shall be effective unless made in
writing and signed by the waiving party. The failure of any party to require the performance of
any term or obligation of this Agreement, or the waiver by any party of any breach of this
Agreement, shall not prevent any subsequent enforcement of such term or obligation or be deemed a
waiver of any subsequent breach.

     15. Notices. Any notices, requests, demands and other communications provided for by
this Agreement shall be sufficient if in writing and delivered in person or sent by a nationally
recognized overnight courier service or by registered or certified mail, postage prepaid, return
receipt requested, to the Executive at the last address the Executive has filed in writing with the
Employer or, in the case of the Employer, at its main offices, attention of the Chief Executive
Officer, and shall be effective on the date of delivery in person or by courier or three (3) days
after the date mailed.

     16. Amendment. This Agreement may be amended or modified only by a written instrument
signed by the Executive and by a duly authorized representative of the Employer.

     17. Governing Law. This is a Massachusetts contract and shall be construed under and
be governed in all respects by the laws of the Commonwealth of Massachusetts, without giving effect
to the conflict of laws principles of such Commonwealth. With respect to any disputes concerning
federal law, such disputes shall be determined in accordance with the law as it would be
interpreted and applied by the United States Court of Appeals for the First Circuit.

     18. Counterparts. This Agreement may be executed in any number of counterparts, each
of which when so executed and delivered shall be taken to be an original; but such counterparts
shall together constitute one and the same document.

     IN WITNESS WHEREOF, this Agreement has been executed as a sealed instrument by the Employer,
by its duly authorized officer, and by the Executive, as of the Effective Date.

	 	 	 	 	 
	 	 	EPIX PHARMACEUTICALS, INC.
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Michael G. Kauffman
	 

	 	 	 	 
	 
	 	 	 	 
	 	 	/s/ Chen Schor
	 	 	 
	 	 	Executive

9

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