Document:

EX-10.23

 Exhibit 10.23 
 AMENDMENT NO. 2 
 TO 

AMENDED AND RESTATED EMPLOYMENT AGREEMENT 
 This Amendment is made effective as of this 12th day of April, 2013, by and between Techne Corporation (the “Company”) and Gregory J. Melsen (“Employee”). 

WHEREAS, the Company and Employee entered into an Amended and Restated Employment Agreement dated November 30, 2012, (the
“Agreement”), which provides the terms of Employee’s employment as Chief Executive Officer on an interim basis, Chief Financial Officer and Vice President of Finance and Employee’s severance; 

WHEREAS, Employee’s position as Chief Executive Officer on an interim basis ceased on March 31, 2013, but Employee
continues employment as Chief Financial Officer and Vice President of Finance; and 
 WHEREAS, the Company and Employee
desire to alter certain terms of the Agreement in light of the appointment of a new Chief Executive Officer of the Company. 

NOW, THEREFORE, the parties agree as follows: 
 1. Section 1.2 of the Agreement is hereby amended in its entirety to read as follows: 

“Term of Employment. The Company hereby agrees to continue to employ Employee as the Company’s Chief Financial Officer and Vice President
of Finance through June 30, 2014, unless earlier terminated as provided in Article 5 hereof.” 
 1. Section 2.1 of
the Agreement is hereby amended in its entirety to read as follows: 
 “Salary. During the period of December 1, 2012 through
June 30, 2013, the Company will pay Employee as base compensation for services to be rendered hereunder such amount as is commensurate with an annualized salary of $425,000, to be paid bi-weekly or in accordance with the usual payroll practices
of the Company. Each subsequent fiscal year (July 1 – June 30) during the term of Employee’s employment by the Company under this Agreement, Employee’s annual base salary shall be reviewed and adjusted by Company’s
Compensation Committee in its sole discretion; provided that Employee’s annual base salary commencing July 1, 2013 will be $375,000.” 
 2. Section 2.2 of the Agreement is hereby amended in its entirety to read as follows: 

“Cash Bonus. On June 30, 2013, the Company will pay Employee a cash bonus of $225,000, by cash, check or wire transfer of immediately
available funds, which shall be taxed at the bonus rate. Unless Employee has terminated his employment voluntarily for reasons other than death or disability, the cash bonus is to be paid regardless of Employee’s employment status with the
Company on June 30, 2013. In addition, Employee will be eligible to receive a cash bonus equivalent to 50% of base annual salary and such bonus will be prorated and paid at the end of each month the Employee is retained after July 1, 2013
through June 30, 2014.” 

  

 3. Section 5.1(C) of the Agreement is hereby amended in its entirety to read as
follows: 
 “Employee may terminate his employment at any time upon written notice provided to the Board of Directors at
least 30 days prior to the effective date of termination; provided that, if Employee wishes to terminate prior to July 1, 2013, Employee will provide such written notice at least 90 days prior to the effective date of termination.”

 4. Except as set forth herein, all provisions of the Agreement shall remain in full force and effect without modification.
Further, nothing in this Amendment is intended to modify the amount, timing or form of payment for the deferred compensation benefits described in the Agreement, and this Amendment shall, at all times, be construed in compliance with Code
Section 409A. 
 5. Capitalized terms used in this Amendment, but not otherwise defined, shall have the meanings assigned to
them under the Agreement. 
 [Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed on
the day and year first above written. 
  

			
	TECHNE CORPORATION
	
	 /s/ Charles R. Kummeth

	 By: Charles R. Kummeth

	 Its: Chief Executive Officer

	
	 “Company”

	
	 /s/ Gregory J. Melsen

	 Gregory J. Melsen

	
	 “Employee”

  
 3EX-10.25

 Exhibit 10.25 
 Techne Corporation 
 Description of Non-Employee Director Compensation
Plan 
 Each non-employee member of the Board of Directors (the “Board”) of Techne Corporation (“Techne”)
shall receive an annual fee of $40,000. The Board chair will receive an additional annual fee of $20,000, the Audit Committee chair will receive an additional annual fee of $15,000, and each other committee chair will receive an additional annual
fee of $12,000. 
 Each non-employee director who waives the grant of an option to purchase 5,000 shares of Techne common stock that would
otherwise be granted under Techne’s 2010 Equity Incentive Plan, will receive an annual grant of a fully vested option to purchase 4,000 shares of Techne common stock, with an exercise price equal to the fair market value of Techne’s common
stock on the grant date, and 1,000 shares of restricted stock, which vest after one year. Non-employee directors are also eligible for reimbursement of reasonable expenses incurred in connection with his services as a director.EX-10.26

 Exhibit 10.26 
 EMPLOYMENT AGREEMENT 
  

					
	DATE:	  	January 24, 2012	  	
			
	PARTIES:        	  	Techne Corporation, a	  	“Company”
		  	Minnesota corporation	  	
		  	614 McKinley Place N.E.	  	
		  	Minneapolis, Minnesota 55413	  	
			
		  	Kevin Reagan	  	“Employee”

 RECITALS: 
 A. Employee has been offered and has accepted the position of Vice President of Immunology, pursuant to the terms of a written offer letter, dated December 6, 2011; and 

B. Pursuant to such offer and acceptance, the Company and Employee desire to enter into this Employment Agreement (“Agreement”)
regarding Employee’s position as Vice President of Immunology. 
 AGREEMENTS: 

ARTICLE 1. 
 TERM
OF EMPLOYMENT: DUTIES AND SUPERVISION 
 1.1) Parties. The parties to this Agreement are Kevin Reagan
(“Employee”) and Techne Corporation (“Company”). As used herein, Company refers to Techne Corporation and its subsidiaries including Research and Diagnostic Systems, Inc. (“R&D”), unless specifically provided
otherwise. All of the rights and obligations created by this Agreement may be performed by or enforced by or against the Company or R&D or other appropriate subsidiary. 
 1.2) Term of Employment. The Company hereby agrees to employ Employee as Vice President of Immunology of the Company effective [ ], 201[] (the “Effective Date”) and continuing through
June 30, 2015 unless earlier terminated as provided in Article 5 hereof. 
 1.3) Duties and Supervision. During the
term of this Agreement, Employee agrees to devote his full time and best efforts to the business and affairs of the Company, and to perform such services and duties Employee may from time to time be assigned by the Company, and specifically its
President. 

  

 ARTICLE 2. 
 COMPENSATION 
 2.1) Salary. The Company will pay Employee an initial
annualized base salary of $260,000 for services to be rendered hereunder, less required and authorized withholding and deductions under all applicable laws and regulations (including but not limited to taxes on the value of the monthly apartment
rent paid by the Company on behalf of Employee pursuant to Section 3.2 of this Agreement). Employee shall be paid bi-weekly or in accordance with the usual payroll practices of the Company. Each fiscal year (July 1 – June 30) during
the term of Employee’s employment by the Company under this Agreement, Employee’s annual base salary shall be reviewed and may be adjusted by Company’s Compensation Committee in its sole discretion. The first such review and potential
adjustment shall occur no earlier than September 1, 2012. 
 2.2) Management Incentive Bonus Plan. During each
fiscal year of the term of Employee’s employment (beginning with the fiscal year ending June 30, 2012), Employee shall be eligible to earn a bonus in accordance with the then-existing terms of the Company’s management incentive plan,
as may be adopted by the Company’s Compensation Committee from time-to-time. The bonus amount, if any, the performance standards for earning such bonus, and the determination of whether the standards have been met shall be established and made
annually by the Compensation Committee of the Company. The Company may, but is not required to, pay some or all of any bonus earned by Employee in the form of stock options. Such options are to be granted after the receipt of the Company’s
final audit report of the applicable fiscal year and the exercise price is to be based on the fair market value of the Company’s common stock on the date of grant. 
 2.3) Options. On the Effective Date, the Company shall issue to Employee, pursuant to the Company’s 2010 Equity Incentive Plan, incentive stock options to purchase an aggregate of 15,000
shares of the Company’s common stock. Except as otherwise provided in the agreement governing the award, the options will have a seven (7) year term and will vest annually in equal portions over a period of three (3) years beginning
on the one-year anniversary date of the Effective Date. The exercise price of the options will be equal to the fair market value of the Company’s shares on the date the options are issued. If the number of shares vesting for a Participant in
any single year exceeds the limit established by Section 422 of the Internal Revenue Code for incentive stock option treatment, the option shall be deemed an incentive stock option to the extent of the number of shares within the limit and a
nonqualified stock option the extent of the number of shares that exceed the limit. 
 2.4) Start-Up Bonus. On the
Effective Date, the Company shall pay to Employee $25,000 by cash, check or wire transfer of immediately available funds, which shall be taxed at the bonus rate. 
 2.5) Other Employee Compensation and Benefits. In addition to the compensation and benefits provided to Employee in Sections 2.1 through 2.4 hereof, Employee shall be entitled to participate in
other employee compensation and benefit plans from time to time established by the Company and made available generally to all employees to the extent that Employee’s age, tenure and title make him eligible to receive those benefits. Employee
shall participate in such compensation and benefit plans on an appropriate and comparable basis determined by the Board of Directors by reference to all other employees eligible for participation. With regard to all insured benefits to be provided
to Employee, benefits shall be subject to due application by Employee. The Company has no obligation to pay insured benefits directly and such benefits are payable to Employee only by the insurers in accordance with their policies. 

  
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 2.6) Paid Time Off. Employee shall be entitled to accrue up to four weeks of PTO per
fiscal year (prorated for partial years of service). Such PTO shall be subject to the Company’s PTO policies as they may exist from time to time. Employee shall not be reimbursed for unused personal days or sick days upon his termination from
employment regardless of the reason, whether voluntary or involuntary. 
 ARTICLE 3. 

PAYMENT OF CERTAIN EXPENSES 
 3.1) Business Expenses. In order to enable Employee to better perform the services required of him hereunder, the Company shall pay or reimburse Employee for business expenses in accordance with
policies to be determined from time to time by the Board of Directors. Employee agrees to submit documentation of such expenses as may be reasonably required by Company. 
 3.2) Temporary Housing and Relocation Expenses. The Company shall pay, on behalf of Employee, up to $3,000 per month in rent for a two-bedroom furnished apartment for up to twelve (12) months.
The Employee agrees to provide the Human Resources Department of the Company with written 60-day notice prior to vacating such apartment. The Company shall also provide Employee with six round trip paid airline tickets from California to Minnesota.
Additionally, the Company shall reimburse Employee up to $40,000 of Employee’s moving expenses from California to Minnesota, within a reasonable period of time after Employee’s proper submission of receipts for non-taxable expenses.

 ARTICLE 4. 
 INVENTIONS, PROPRIETARY INFORMATION AND COMPETITION 
 4.1) Prior Agreement.
Neither the execution of this Agreement nor any provision in it shall be interpreted as rescinding or revoking the Employee Agreement With Respect To Inventions, Proprietary Information, and Unfair Competition previously entered into between the
Company and Employee as of [ ], 2011 (the “Prior Inventions, Proprietary Information, and Unfair Competition Agreement”). The Company and Employee hereby agree that the terms and conditions of such Prior Inventions, Proprietary
Information, and Unfair Competition Agreement shall continue in full force and effect and shall apply to all businesses of the Company, including not only business conducted by the Company but also to business conducted through the Company or any
subsidiary or venture of the Company now existing or hereafter created. The termination of this Agreement or Employee’s employment shall not terminate Employee’s obligations under the Prior Inventions, Proprietary Information, and Unfair
Competition Agreement, the terms and conditions of which shall survive termination of this Agreement and termination of Employee’s employment for any reason, whether voluntary or involuntary. 

  
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 ARTICLE 5. 
 TERMINATION 
 5.1) Events of Termination. Employee’s employment with
the Company shall be “at will,” meaning either Employee or the Company may terminate this Agreement and the employment relationship at any time, with or without cause, and with or without advance notice. In addition, Employee’s
employment shall terminate as follows: 
 (A) By mutual written agreement of the parties; 

(B) Upon death of Employee; 
 (C) Upon written notice by the Company to Employee in connection with the merger, sale of the business, or change in control of the Company, provided that the salary and bonus continuation provisions of
Article 6.1 of this Agreement are met; 
 (D) Upon written notice by the Company to Employee in connection with
the occurrence of physical or mental disability of Employee to such an extent that Employee is unable to carry on the essential functions of Employee’s position, with or without reasonable accommodation, and such inability continues for a
period of three months or such other period as may be required by applicable law. Nothing in this Section 5.1(D) shall limit the right of either Party to terminate Employee’s employment under one of the other provisions of this
Section 5.1. 
 5.2) Records and Files. In the event of termination of employment of Employee for any reason
(whether voluntary or involuntary and whether by Company, any successor or assign of the Company, or Employee), possession of each corporate file and record shall be retained by the Company, and Employee or his heirs, assigns and legal
representatives shall have no right whatsoever in any such material, information or property. To the extent such material, information or property is in the possession of Employee, Employee shall return such material, information or property to the
Company within five business days of termination of employment. 
 ARTICLE 6. 

TERMINATION BENEFITS 
 6.1) Termination Benefits. In the event Employee’s employment by the Company is terminated by the Company or an acquirer of the Company in connection with a merger, sale or “change in
control” of the Company, Employee shall be paid at the time of such termination a lump sum amount equal to the base salary and cost of benefits which would otherwise have been paid under the terms of this Agreement had this Agreement continued
to be enforced for twelve (12) months from the date of termination and a pro-rata portion of the management incentive bonus Employee would have been entitled to receive pursuant to Section 2.2 hereof, if any, during the fiscal year in
which termination occurred; provided, however, that Employee shall be entitled to the payment set forth in this Section 6.1 only if he executes and does not rescind a release agreement in a form supplied by the Company, which will include, but
not be limited to, a comprehensive release of claims against the Company and all related parties, in their official 

  
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and individual capacities. For purposes of this Section 6.1, “change in control” means the acquisition in one or more transactions by a single party, or any number of parties
acting in concert, of a majority of the outstanding shares of voting stock of the Company. Notwithstanding anything in this Agreement to the contrary, if the payment described in this Section 6.1 is subject to the requirements of Internal
Revenue Code Section 409A and the Company determines that Employee is a “specified employee” as defined in Code Section 409A as of the date of Employee’s termination of employment, such payment shall not be paid or commence
earlier than the first day of the seventh month following the date of Employee’s termination of employment. 
 ARTICLE 7.

 MODIFICATIONS 
 7.1 Modifications. Except as provided in Section 4.1 above, this Agreement supersedes all prior agreements and understandings between the parties relating to the employment of Employee by the
Company and it may not be changed or terminated orally. No modification, termination, or attempted waiver of any of the provisions of this Agreement shall be valid unless in writing signed by the party against whom the same is sought to be enforced.
Notwithstanding anything in this Agreement to the contrary, the Company expressly reserves the right to amend this Agreement without Employee’s consent to the extent necessary to comply with Code Section 409A, as it may be amended from
time to time, and the regulations, notices and other guidance of general applicability issued thereunder. 
 ARTICLE 8.

 GOVERNING LAW AND SEVERABILITY 
 8.1) Governing Law. The validity, enforceability, construction and interpretation of this Agreement shall be governed by the laws of the State of Minnesota. 

8.2) Severability. If any term of this Agreement is deemed unenforceable, void, voidable, or illegal, such unenforceable, void,
voidable or illegal term shall be deemed severable from all other terms of this Agreement, which shall continue in full force and effect and the Company and Employee expressly acknowledge that a court of competent jurisdiction may, at the
Company’s request, modify and thereafter enforce any of the terms, conditions, and covenants contained in this Agreement. 

ARTICLE 9. 

BINDING EFFECT 

9.1) Binding Effect. The breach by the Company of any other agreement or instrument between the Company and Employee shall not
excuse or waive Employee’s performance under, or compliance with, this Agreement. This Agreement shall be assignable by the Company and shall be binding upon and inure to the benefit of Company, its successors and assigns. The rights of
Employee hereunder are personal and may not be assigned or transferred except as may be agreed to in writing by the Company. 

  
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 ARTICLE 10. 
 ARBITRATION 
 10.1) Arbitration. Any dispute arising out of or relating to
(i) this Agreement or the alleged breach of it, or the making of this Agreement, including claims of fraud in the inducement, or (ii) Employee’s application or candidacy for employment, employment and/or termination of employment with
Company including, but not limited to, any and all disputes, claims or controversies relating to discrimination, harassment, retaliation, wrongful discharge, and any and all other claims of any type under any federal or state constitution or any
federal, state, or local statutory or common law shall be discussed between the disputing parties in a good faith effort to arrive at a mutual settlement of any such controversy. If, notwithstanding, such dispute cannot be resolved, such dispute
shall be settled by binding arbitration. Judgment upon the award rendered by the arbitrator may be entered in any court having jurisdiction thereof. The arbitrator shall be a retired state or federal judge or an attorney who has practiced securities
or business litigation for at least 10 years. If the parties cannot agree on an arbitrator within 20 days, any party may request that the chief judge of the District Court for Hennepin County, Minnesota, select an arbitrator. Arbitration will be
conducted pursuant to the provisions of this Agreement, and the commercial arbitration rules of the American Arbitration Association, unless such rules are inconsistent with the provisions of this Agreement, but without submission of the dispute to
such Association. Limited civil discovery shall be permitted for the production of documents and taking of depositions. Unresolved discovery disputes may be brought to the attention of the arbitrator who may dispose of such dispute. The arbitrator
shall have the authority to award any remedy or relief that a court of this state could order or grant; provided, however, that punitive or exemplary damages shall not be awarded. The arbitrator may award to the prevailing party, if any, as
determined by the arbitrator, all of its costs and fees, including the arbitrator’s fees, administrative fees, travel expenses, out-of-pocket expenses and reasonable attorneys’ fees. Unless otherwise agreed by the parties, the place of any
arbitration proceedings shall be Hennepin County, Minnesota. This agreement to arbitrate does not include worker’s compensation claims, claims for unemployment compensation, or any injunctive or other relief to which the Company may be entitled
in accordance with the Prior Inventions, Proprietary Information, and Unfair Competition Agreement referred to in Section 4.1 herein. 
 [Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the parties have executed this Agreement and caused it to be dated as of the day and
year first above written. 
  

			
	TECHNE CORPORATION
		
	By	 	/s/ Thomas E Oland
		 	Its President
		
		 	“Company”
	
	/s/ Kevin Reagan
	Kevin Reagan
		
		 	“Employee”

  
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