Document:

exv10w1

 

Exhibit 10.1

SEPARATION AGREEMENT

          This SEPARATION AGREEMENT (this “Agreement”) is made and entered into by Mr. Todd M. DuChene
(the “Executive”) and Fisher Scientific International Inc., a Delaware corporation (the “Company”)
dated as of March 4, 2005.

          WHEREAS, the Executive has given notice in writing dated February 4, 2005 of his intention to
resign his employment;

          WHEREAS, the Company and the Executive believe it is in the best interest of the Company to
enter into this Agreement and provide for a more orderly transition of the Executive from the
Company.

          NOW, THEREFORE, the Company and the Executive hereby agree as follows:

     1. Resignation. The Executive’s employment with the Company shall terminate effective as of
August 31, 2005 (the “Termination Date”). The Executive resigned his positions as Senior Vice
President of Corporate Development, Chief Legal Officer and Secretary of the Company and all
positions as an officer or director of the Company and any of its subsidiaries or affiliates
effective as of March 4, 2005. From and after the date hereof, the Executive shall perform such
duties as may be reasonably and lawfully requested by the Vice Chairman of the Company to the
extent such duties are consistent (both in terms of the nature and extent of such services) with
the Executive’s former positions, duties and status with the Company.

     2. Payments and Benefits.

(a) Accrued Compensation. On or as soon as practicable following the date
hereof, the Company shall pay to the Executive all accrued but unpaid salary and
shall reimburse the Executive for any outstanding business expenses for which he is
entitled to be reimbursed.

(b) Compensation. The Company shall continue to pay Executive his current
base salary until the Termination Date.

(c) Severance Payment. On or as soon as practicable following the Payment
Date (as defined in Section 9 of Exhibit B hereto), the Company shall pay to the
Executive a lump sum in cash of one million six hundred fifty thousand dollars
($1,650,000).

(d) Benefits. Through the second anniversary of the Termination Date (such
period, the “Severance Period”), the Company shall continue to provide the Executive
and his eligible dependents with medical, dental and vision benefits as set forth in
Exhibit A to this Agreement, provided that such benefits shall be secondary to those
provided under any other plan, program, practice or policy by any subsequent
employer of the Executive. The period for the required continuation coverage under
Section 601 et seq. of the Employee Retirement Income Security Act of 1974, as
amended, and Section 4980B of the Internal

 

 

Revenue Code of 1986, as amended (known as “COBRA” benefits), shall be considered to
begin immediately following the end of the Severance Period.

(e) SERP Retirement Distribution. On or as soon as practicable following
the Termination Date, the Company shall pay to the Executive a lump sum in cash
equal to $1,100,000 which amount has been calculated based on average recognized
compensation through the Termination Date and years of service including the
Severance Period, which payment shall be in full satisfaction of the Executive’s
Retirement Benefit under the Company’s Executive Retirement and Savings Program.
Executive shall continue to be eligible for retiree medical insurance under the
Company’s retiree medical plan as in effect from time to time and in accordance with
generally applicable plan provisions.

(f) Supplemental Savings Plan Distribution. On or as soon as practicable
following the Termination Date, the Executive shall be entitled to receive a lump
sum cash distribution of his account balance (all of which is vested) under the
Company’s Supplemental Savings Plan (the “Savings Plan”) which amount is equal to
$418,510.99 as of 12/31/04. This distribution shall be in full satisfaction of the
Executive’s rights under the Savings Plan.

(g) 2004 Performance Bonus. The Executive shall be entitled to receive
payment of a 2004 performance bonus (the “Performance Bonus”) in the amount of
$487,500. Such Performance Bonus shall be paid to the Executive on or about the
same time that such Performance Bonus is paid to other executive officers of the
Company but in no event later than March 31, 2005.

(h) Administrative Support. The Company shall provide the Executive with an
office, telephone, desk and reasonable administrative support through the Consulting
Period.

     3. Stock Options. All outstanding stock options held by the Executive as of the Payment Date
shall become vested and exercisable on the Payment Date and shall remain exercisable until the
earlier of (a) ninety (90) days following the Termination Date or (b) the expiration of the
original term of such option. Shares of Company stock received by the Executive upon exercise of
such options shall not contain any restrictive legends or be subject to any restrictions on
transferability.

     4. Consulting Arrangement; Cooperation. Commencing on the Termination Date, the Executive
shall make himself reasonably available to perform consulting services to the Company as reasonably
requested by the Vice Chairman of the Company for a period of six (6) months (the “Consulting
Period”). Such services shall be consistent with the Executive’s former positions, duties and
status with the Company, it being understood that the Executive shall not be required to provide
services on a full-time basis during the Consulting Period. The Company shall pay to the Executive
as compensation for such consulting services an aggregate amount of $175,000 (the “Fee”), such Fee
to be payable in twice monthly installments of $14,583.33, less any applicable withholding;
provided that prior to December 31, 2005, the Company shall pay the Executive any remaining unpaid
balance of the Fee in a single lump sum payment. Should

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the Company require additional consulting services from the Executive, the Executive shall
negotiate in good faith an extension to the Consulting Period, subject to the Executive’s
availability and other responsibilities. In addition, in order to ensure a smooth transition from
the Executive’s employment with the Company, the Executive shall make himself reasonably available
(in light of the Executive’s personal and business demands) to provide reasonable assistance to and
cooperation with the Company during the Severance Period in connection with any Company matters
concerning which the Executive had knowledge or responsibility while employed by the Company,
subject in all events to the demands of the Executive’s then current employer. If during the
Severance Period or thereafter, the Company becomes involved in any legal action relating to events
which occurred during the Executive’s employment, the Executive will cooperate in good faith in the
preparation, prosecution, or defense of the Company’s case, including, but not limited to, the
execution of affidavits or documents or providing of information requested by the Company.
Reasonable out-of-pocket expenses related to such assistance will be reimbursed by the Company.

     5. Nondisparagement. The Executive agrees not to make any statement that is intended to or
could reasonably be expected to disparage the Company or its directors or officers. The Company
agrees that it shall not, and it shall cause each executive officer, director and each member of
its Human Resources department not to make a statement (including any statement to any prospective
employer) that is intended to or could reasonably be expected to disparage the Executive.
Notwithstanding the foregoing, nothing in this Section 5 shall prevent any person from (i)
responding to any incorrect, disparaging or derogatory public statement to the extent reasonably
necessary to correct or refute such statement or (ii) making any truthful statement to the extent
(x) necessary with respect to any litigation, arbitration or mediation involving this Agreement,
including, but not limited to, the enforcement of this Agreement or (y) required by law or by any
court, arbitrator, mediator or administrative of legislative body (including any committee thereof)
with actual or apparent jurisdiction to order such person to disclose or make accessible such
information.

     6. Publicity. The Company and the Executive shall cooperate in the preparation of one or more
statements in respect of the Executive’s employment by the Company (each, a “Statement”). The
Company, the Company’s Human Resources Department, Mr. Paul M. Montrone, Chairman and Chief
Executive Officer of the Company, and Mr. Paul M. Meister, Vice Chairman of the Company shall each
respond to any inquiries regarding the Executive’s employment by making statements consistent with
the Statement and will not issue a press release or media release or make any statement or comment
that is inconsistent with such Statement.

     7. Confidentiality. The Executive shall hold in a fiduciary capacity consistent with the
lawyer’s Canon of Ethics for the benefit of the Company all secret, confidential or other
non-public information, knowledge or data relating to the Company or any of its affiliates or
employees, officers or directors in such capacity that he has obtained or may obtain during his
employment in any capacity by the Company or any of its affiliates (including his employment as a
consultant hereunder) (collectively, “Company Information”). Anything herein to the contrary
notwithstanding, the provisions of this Section 7 shall not apply (i) to the extent that disclosure
is required by law or by any court, arbitrator, mediator or administrative or legislative body
(including any committee thereof) with actual or apparent jurisdiction to order the

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Executive to disclose or make accessible any information, (ii) with respect to any other
litigation, arbitration or mediation involving this Agreement, including, but not limited to, the
enforcement of this Agreement, (iii) as to information that becomes generally known to the public
or within the relevant trade or industry other than due to the Executive’s violation of this
Section 7 or (iv) as to information that is or becomes available to the Executive on a
non-confidential basis from a source which is entitled to disclose it to the Executive.

     8. Release. On or about the date hereof, the Executive shall execute the General Release and
Waiver set forth in Exhibit B hereto (the “Release”). If the Executive revokes the Release
in accordance with its terms, this Agreement shall be null and void and any current agreement with
the Executive shall continue in effect in accordance with its terms. The Company acknowledges that
its executive officers do not know, as of the date hereof, of any claims that the Company may have
against the Executive.

     9. Indemnification. To the fullest extent permitted by the Delaware General Corporation Law
and the Company’s certificate of incorporation and by-laws, the Company shall indemnify the
Executive against all expense, liability and loss (including attorneys’ fees, judgments, fines,
excise taxes under the Employee Retirement Income Security Act of 1974 or penalties and amounts
paid or to be paid in settlement) reasonably incurred or suffered by the Executive in connection
with any action, suit or proceeding, whether civil, criminal, administrative or investigative, by
reason of the fact that the Executive, or the person of whom he is the legal representative, is or
was a director or officer of the Company or is or was serving at the request of the Company as a
director, officer, employee or agent of another corporation or of a partnership, joint venture,
trust or other enterprise, including service with respect to employee benefit plans, whether the
basis of such proceeding is alleged action or inaction in an official capacity as a director,
officer, employee or agent or in any other capacity while serving as a director, officer, employee
or agent. The Company shall continue to maintain a director’s and officers’ liability insurance
policy covering the Executive to the same extent and with the same limits and retentions as the
Company provides such coverage for its other executive officers and directors.

     10. Outplacement Services. At the Executive’s request, the Company shall provide the
Executive with outplacement services not exceeding $20,000 in value. The Company will release any
executive search firm from any agreement not to solicit for employment any employee or former
employee of the Company as it relates to the Executive.

     11. Entire Agreement; Other Benefits. This Agreement contains the entire agreement of the
parties, relating to the Executive’s employment by Company and termination of employment and all
other matters arising between Company and the Executive prior to the date and time of execution
hereof, and supersedes all prior discussions, agreements, contracts and understandings between the
parties, with the exception of any Agreement Relating to Intellectual Property, Competitive
Activities, Confidential Information, Conflicts of Interests and Release (“Non-Compete Agreement”)
executed by the Executive. With respect to the Non-Compete Agreement, such Non-Compete Agreement
shall prohibit the Executive from providing legal services on an hourly basis to any direct
competitor of the Company. The Executive and the Company agree that it is their specific intent
that all provisions of such Non-Compete Agreement as modified above shall survive the execution of
this Agreement and shall remain fully binding

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and enforceable on the Company and the Executive. This Agreement may be amended only in
writing signed by the parties. The Company agrees to pay the reasonable legal fees and expenses
incurred by the Executive in connection with the negotiation of this Agreement not to exceed
$25,000.

     12. Return of Property and Company Information. The Executive has returned or agrees to
return to Company, within five calendar (5) days of the Executive’s separation from the Company,
all Company Information and copies thereof, including, but not limited to, such Information
contained in documents, memoranda or other recorded form, and all other property belonging to the
Company which is in the Executive’s possession or control, it being understood that such
Information does not include the Executive’s personal books and reference materials, the
Executive’s transaction “bibles” and other bound volumes that contain copies of original materials
and the Executive’s hp Compaq nc4000 computer.

     13. Successors. This Agreement is personal to the Executive and without the prior written
consent of the Company shall not be assignable by the Executive other than by will or the laws of
descent and distribution. In the event of the Executive’s death in any manner, any and all
obligations owed to the Executive shall be paid the Executive’s heirs (whether by will or
otherwise) (including, continuing medical and other benefit coverage for the Executives current
dependents). This Agreement shall inure to the benefit of and be enforceable by the Executive’s
legal representatives. This Agreement shall inure to the benefit of and be binding upon the
Company and its successors.

     14. Amendment. This Agreement may be amended, modified or changed only by a written
instrument executed by the Executive and the Company.

     15. Governing Law. This Agreement shall be governed by and construed in accordance with the
laws of the Commonwealth of New Hampshire or federal law, where applicable. The captions of this
Agreement are not part of the provisions hereof and shall have no force or effect.

     16. Notices. All notices and other communications hereunder shall be in writing; shall be
delivered by hand delivery to the other party or mailed by registered or certified mail, return
receipt requested, postage prepaid; shall be deemed delivered upon actual receipt; and shall be
addressed as follows:

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If to the Executive:

Todd M. DuChene

11 Hunter Drive

Hampton, NH 03842

With a copy to:

Scott Price, Esq.

Milbank, Tweed, Hadley & McCloy LLP

1 Chase Manhattan Plaza

New York, NY 10005

If to the Company:

Mr. John McMahon

Senior Vice President Global Human Resources

Fisher Scientific International Inc.

1 Liberty Lane

Hampton, NH 03842

With a copy to:

Ralph Arditi, Esq.

Skadden Arps Slate Meagher & Flom LLP

4 Times Square

New York, NY 10036

or to such other address as either party shall have furnished to the other in writing in accordance
herewith.

     17. Tax Withholding. Notwithstanding any other provision of this Agreement, the Company may
withhold from any amounts payable under this Agreement, or any other benefits received pursuant
hereto, such minimum Federal, state and/or local taxes as shall be required to be withheld under
any applicable law or regulation. Each of the Executive and the Company shall bear their
respective tax liabilities, if any, resulting from this Agreement. The Executive acknowledges that
the Company has made no representations about the tax consequences of any amount received by him
pursuant to the terms of this Agreement.

     18. Remedies. Each party acknowledges and agrees that if he or it (or the Fisher executives
or the individuals named in such section in the case of Section 5 or 6 hereof) violates and/or
breaches this Agreement in any manner, the other party shall be entitled to an accounting and
repayment of all lost profits, compensation, commissions, remuneration or benefits that such
nonbreaching party has suffered as a result of any such violation or breach. Each party further
acknowledges and agrees that it would be difficult to measure any damages caused to the other which
might result from any breach of the promises set forth in this Agreement, and that, in any event,
money damages would be an inadequate remedy for any such breach. Accordingly, each

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party acknowledges and agrees that if he or it breaches or threatens to breach, any portion of
this Agreement, the other party 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 nonbreaching party and without the necessity of posting
any bond or other security.

     19. Review and Approval. The Compensation Committee of the Board of Directors of the Company
has reviewed and approved the terms of this Agreement, and has authorized the party executing this
Agreement on behalf of the Company to do so.

     IN WITNESS WHEREOF, each of the parties hereto has duly executed this Agreement as of the date
first set forth above.

	 	 	 	 	 
	 
	 	/s/ Todd M. DuChene 	 	 
	 	 	

	 	 	Todd M. DuChene
	 
	 	 	 	 
	 	 	FISHER SCIENTIFIC INTERNATIONAL INC.
	 
	 	 	 	 
	

	 	By:	 	/s/ Kevin P. Clark
	

	 	 	 	

	

	 	 	 	Name: Kevin P. Clark
	

	 	 	 	Title: Chief Financial Officer

7exv10w2

 

Exhibit 10.2

EMPLOYMENT AGREEMENT

This EMPLOYMENT AGREEMENT (this “Agreement”) is entered into by and between Fisher Scientific
International Inc., a Delaware corporation (the “Company”), and Mark D. Roellig (the “Executive”),
this ___day of March, 2005.

1. Term of the Agreement.

This Agreement shall commence as of April 4, 2005 (the “Effective Date”). The Executive’s services
under Section 2 shall commence on such date and shall continue until the earlier of April 3, 2010
or the Executive’s Date of Termination (as defined in Section 4(e) below) (the “Initial Employment
Period” and, together with any extensions thereof pursuant to the next sentence, the “Employment
Period”), with the exception of Sections 5 through 12, which shall remain in effect thereafter. As
of the last day of the Initial Employment Period and each anniversary thereof, unless either party
hereto shall have given the other party 60 days’ advance notice that there shall be no further
extensions pursuant to this sentence (“Notice of Non-Extension”), the Employment Period shall be
extended by an additional year.

2. Position and Duties.

During the Employment Period, the Executive’s position shall be that of Vice President, General
Counsel and Corporate Secretary, reporting to either the Vice Chairman or Chief Executive Officer
of the Company. The Executive’s services shall be performed at Hampton, New Hampshire. During the
Employment Period, and excluding any periods of vacation and other time off to which the Executive
is entitled, the Executive agrees to devote reasonable attention and time during normal business
hours to the business and affairs of the Company and, to the extent necessary to discharge the
responsibilities assigned to the Executive hereunder, to use the Executive’s reasonable best
efforts to perform such responsibilities. During the Employment Period it shall not be a violation
of this Agreement for the Executive to serve on corporate, civic, charitable, governmental or
religious boards or committees of such other entities (including without limitation, Bulletin
Network News, Inc.) in a manner and at a time or times consistent with his current practice, (b)
participate in political activities and fundraising and (c) manage personal investments, so long
as, in each case, such activities do not create any conflicts of interest with the business of the
Company or interfere with the performance of the Executive’s responsibilities as an employee of the
Company in accordance with this Agreement.

3. Compensation.

(a) Base Salary. As stated in the Executive’s offer letter of March 1, 2005 (“Offer Letter”), which
is hereby incorporated by reference, the Executive shall receive an annual base salary of at least
$400,000 (“Initial Annual Base Salary”), which shall be paid in accordance with the Company’s

 

 

generally applicable payroll practices and policies. During the Employment Period, the annual base
salary shall be reviewed at least annually. Any increase in annual base salary shall not serve to
limit or reduce any other obligation to the Executive under this Agreement. The annual base salary
shall not be reduced, including after any such increase, except pursuant to across-the-board salary
reductions similarly affecting all peer executives of the Company, and the term “Annual Base
Salary” as utilized in this Agreement shall refer to Initial Annual Base Salary as so increased or
decreased.

(b) Incentive, Savings and Retirement Plans Generally. During the Employment Period, and without
limiting the Executive’s rights under Section 3(c), the Executive shall be entitled to participate
in and shall receive all benefits under all incentive, savings and retirement plans, practices,
policies and programs applicable generally to other peer executives of the Company. Without
limiting the generality of the foregoing (including the right of Executive to participate in and
receive all benefits under any short-term or special bonus or other incentive compensation
opportunities), the “Target Regular Annual Bonus” opportunity made available to the Executive with
respect to any calendar year shall be at least equal to 100% of his Annual Base Salary for such
year. No portion of the bonus payable to the Executive for any calendar year during the term of
this agreement shall be guaranteed, except as otherwise provided in Section 5.

In the event the Executive remains continuously employed with the Company until the end of the
30th month after the Effective Date, the Executive shall become fully vested in his
Retirement Benefit under the Company’s Executive Retirement and Savings Program on such date. In
the event the Executive remains continuously employed with the Company until the fifth anniversary
of the Effective Date, the Executive shall receive an additional five years of service credit for
calculation of his Retirement Benefit under the Company’s Executive Retirement and Savings Program.
The Company shall not amend the Company’s Executive Retirement and Savings Program in any way that
adversely affects the Executive’s Retirement Benefit thereunder without the Executive’s prior
consent.

(c) Welfare Benefit Plans. During the Employment Period, the Executive and/or the Executive’s
eligible dependents, as the case may be, shall be eligible for participation in and shall receive
all benefits under welfare benefit plans, practices, policies and programs provided by the Company
(including, without limitation, medical, prescription, dental, disability, salary continuance,
employee life, group life, accidental death and travel accident insurance plans and programs) to
the extent applicable generally to other peer executives of the Company.

(d) Expenses. During the Employment Period, the Executive shall be entitled to receive prompt
reimbursement for all reasonable expenses incurred by the Executive in respect of his services to
the Company in accordance with the policies, practices and procedures of the Company to the extent
applicable generally to other peer executives of the Company.

(e) Vacation. During the Employment Period, the Executive shall be entitled to paid vacation in
accordance with the terms of Executive’s Offer Letter.

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(f) Perquisites. During the Employment Period, the Executive shall be entitled to receive
perquisites in accordance with the policies, practices and procedures of the Company to the extent
applicable generally to other peer executives of the Company.

(g) Initial Equity Grant. Within one week of the Effective Date, the Company shall grant to the
Executive 28,125 stock options to acquire Company stock under either the Company’s 2001 Equity and
Incentive Plan or 2003 Equity and Incentive Plan (collectively, the “Incentive Plan”) and within
the sixth week following the Effective Date, the Company shall grant the Executive an additional
28,125 stock options under the Incentive Plan (together, the “Initial Options”). The Initial
Options shall be granted at a per share exercise price equal to the fair market value of a share of
Company stock as of the date of grant, shall vest in three annual installments as described below
(subject to the other applicable terms of this Agreement or the Incentive Plan) and shall be
otherwise subject to the terms and conditions of the Incentive Plan. Provided the Executive is
employed by the Company on such date, each Initial Option shall vest with respect to 60 percent of
the shares subject thereto on the first anniversary of the date of grant and with respect to an
additional 20 percent of the shares subject to such Initial Option on each of the second and third
anniversaries of the date of grant.

Subject to stockholder approval of the Company’s new equity incentive plan (the “Equity Plan”), the
Company shall grant to the Executive 22,500 shares of Company restricted stock no later than August
1, 2005 (“Initial Restricted Stock”). The Initial Restricted Stock shall be subject to all terms
and conditions of the Equity Plan and the applicable agreement, including terms and conditions
relating to vesting, applicable performance criteria and transferability restrictions. If the
Company’s stockholders fail to approve the Equity Plan, the Company shall convey a substantially
similar economic benefit to the Executive in such form the parties hereto shall negotiate in good
faith.

4. Termination of Employment.

(a) Death or Disability. The Executive’s employment shall terminate automatically upon the
Executive’s death during the Employment Period. If the Company determines in good faith that the
Disability of the Executive has occurred during the Employment Period (pursuant to the definition
of Disability set forth below), it may give to the Executive written notice in accordance with
Section 11(b) of this Agreement of its intention to terminate the Executive’s employment. In such
event, the Executive’s employment with the Company shall terminate effective on the 30th day after
receipt of such notice by the Executive (the “Disability Effective Date”), provided that, within
the 30 days after such receipt, the Executive shall not have returned to full-time performance of
the Executive’s duties. For purposes of this Agreement, “Disability” shall mean the absence of the
Executive from the Executive’s duties with the Company on a full-time basis for 180 consecutive
business days as a result of incapacity due to mental or physical illness which is determined to be
total and permanent by a physician selected by the Company or its insurers and acceptable to the
Executive or the Executive’s legal representative.

(b) Cause. The Company may terminate the Executive’s employment during the Employment Period for
Cause. For purposes of this Agreement, “Cause” shall mean:

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(i) the willful and continued failure of the Executive to perform substantially the Executive’s
duties hereunder with the Company or one of its affiliates (other than any such failure
resulting from incapacity due to physical or mental illness), after a written demand for
substantial performance is delivered to the Executive by the Vice Chairman or the Chief
Executive Officer which specifically identifies the manner in which the Vice Chairman or Chief
Executive Officer believes that the Executive has not substantially performed the Executive’s
duties, or

(ii) the willful engaging by the Executive in illegal conduct or gross misconduct that is
materially and demonstrably injurious to the Company. For purposes of this provision, no act or
failure to act, on the part of the Executive, shall be considered “willful” unless it is done,
or omitted to be done, by the Executive in bad faith or without reasonable belief that the
Executive’s action or omission was in the best interests of the Company.

Any act, or failure to act, based upon authority given by the Board, the direction of the Vice
Chairman or the Chief Executive Officer or based upon the advice of counsel for the Company shall
be conclusively presumed to be done, or omitted to be done, by the Executive in good faith and in
the best interests of the Company, unless such authority, direction or advice is in violation of
applicable law, regulation, Company policy or the Company’s Code of Business Conduct. The
cessation of employment of the Executive shall not be deemed to be for Cause unless and until there
shall have been delivered to the Executive a copy of a resolution duly adopted by the affirmative
vote of not less than three-quarters of the entire membership of the Board at a meeting of the
Board (after reasonable notice is provided to the Executive and the Executive is given an
opportunity, together with counsel, to be heard before the Board), finding that, in the good faith
opinion of the Board, the Executive is guilty of the conduct described in subsection (i) or (ii)
above.

(c) Good Reason. The Executive’s employment may be terminated by the Executive for Good Reason at
any time within 90 days after the Executive first has actual knowledge of the occurrence of such
Good Reason. For purposes of this Agreement, “Good Reason” shall mean:

(i) the assignment to the Executive of any duties inconsistent in any respect with the Executive’s
position (including status, offices, titles and reporting requirements), authority, duties or
responsibilities as contemplated by Section 2 of this Agreement, or any other action by the Company
which results in a diminution in such position, authority, duties or responsibilities, excluding,
for this purpose an isolated, insubstantial and inadvertent action not taken in bad faith and which
is remedied by the Company promptly after receipt of notice thereof given by the Executive,

(ii) any failure by the Company to comply with any of the provisions of Section 3 of this
Agreement, other than an isolated, insubstantial and inadvertent failure not occurring in bad
faith and which is remedied by the Company promptly after receipt of notice thereof given by the
Executive,

(iii) the Company’s requiring the Executive to be based at any office or location other than as
provided in Section 2 hereof,

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(iv) any purported termination by the Company of the Executive’s employment otherwise than for
Cause, or due to death or Disability,

(v) any delivery by the Company of a Notice of Non-Extension, or

(vi) any failure by the Company to comply with and satisfy Section 9 of this Agreement.

(d) Notice of Termination. Any termination by the Company for Cause, or by the Executive for Good
Reason, shall be communicated by Notice of Termination to the other party hereto given in
accordance with Section 11(b) of this Agreement. For purposes of this Agreement, a “Notice of
Termination” means a written notice which:

(i) indicates the specific termination provision in this Agreement relied upon,

(ii) to the extent applicable, sets forth in reasonable detail the facts and circumstances
claimed to provide a basis for termination of the Executive’s employment under the provision so
indicated, and

(iii) if the Date of Termination (as defined below) is other than the date of receipt of such
notice, specifies the termination date (which date shall be not more than thirty days after the
giving of such notice).

In the event the Executive provides the Company with a Notice of Termination for Good Reason, the
Company shall have 30 days to cure the circumstances that Executive alleges constitute Good Reason;
and if so cured, no Good Reason shall be deemed to have occurred hereunder. The failure by the
Executive or the Company to set forth in the Notice of Termination any fact or circumstance which
contributes to a showing of Good Reason or Cause shall not waive any right of the Executive or the
Company, respectively, hereunder or preclude the Executive or the Company, respectively, from
asserting such fact or circumstance in enforcing the Executive’s or the Company’s rights hereunder.

(e) Date of Termination. “Date of Termination” means:

(i) if the Executive’s employment is terminated by the Company for Cause, the date of receipt of
the Notice of Termination, or any later date specified therein, as the case may be,

(ii) if the Executive’s employment is terminated by the Executive for Good Reason, the
30th day following the Company’s receipt of the Notice of Termination, provided the
circumstances that Executive alleges constitute Good Reason have not been cured prior to such
date,

(iii) if the Executive’s employment is terminated by the Company other than for Cause or
Disability, the date on which the Company notifies the Executive of such termination or any
other later date so specified,

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(iv) if the Executive’s employment is terminated by the Executive other than for Good Reason,
the date on which the Executive notifies the Company of such termination, and

(v) if the Executive’s employment is terminated by reason of death or Disability, the date of
death of the Executive or the Disability Effective Date, as the case may be.

5. Obligations of the Company Upon Termination.

(a) By Executive for Good Reason; By the Company Other Than for Cause or Disability. In partial
consideration for the noncompetition covenants of the Executive pursuant to Section 8(b) and in
part as liquidated damages in lieu of the payments and benefits to which the Executive would have
been entitled through the remainder of the Employment Period, if, during the Employment Period, the
Company shall terminate the Executive’s employment other than for Cause or Disability or the
Executive shall terminate employment for Good Reason, the Company shall pay to the Executive or his
legal representatives a lump sum in cash within 30 days after the Date of Termination equal to the
sum of the following amounts:

(i) one and a half (1.5) times the Executive’s current Annual Base Salary,

(ii) the Executive’s Annual Base Salary through the Date of Termination,

(iii) any previous years’ annual incentive payments (determined based upon actual Company
results and not reduced for individual performance), to the extent not previously paid,

(iv) payment for any accrued vacation, and

(v) the product of (x) the Target Regular Annual Bonus and (y) a fraction, the numerator of
which is the number of days in the fiscal year in which the Date of Termination occurs through
the Date of Termination and the denominator of which is 365.

In addition, the Company shall pay the Executive or his legal representative any compensation
previously deferred by the Executive (together with any accrued interest or earnings thereon) as
provided by the terms of such deferred compensation plan or program.

The sum of all of the amounts described in subsections (ii), (iii) and (iv) of this Section 5(a)
shall be hereinafter referred to as the “Accrued Obligations.”

In addition, if, during the Employment Period, the Company shall terminate the Executive’s
employment other than for Cause or Disability or the Executive shall terminate employment for Good
Reason, all of the Executive’s Initial Options and Initial Restricted Stock shall become fully
vested and earned as of the Date of Termination, and (except as set forth below) all such Initial
Options shall remain exercisable for the remainder of their original term. If, during the
Employment Period, the Company shall terminate the Executive’s employment other than for Cause or
Disability or the Executive shall terminate employment for Good Reason, and, as of the applicable
Date of Termination, the Company has not yet granted the Executive all of the Executive’s Initial
Options or Initial Restricted Stock, any such unissued Initial Options shall be

6

 

granted to the Executive immediately prior to such Date of Termination and the Company shall make a
payment to the Executive, which may, in the Company’s election, be in the form of cash or shares of
Company stock, equal in value to the total fair market value as of such Date of Termination of any
such unissued Initial Restricted Stock (if the payment is made in cash, such Initial Restricted
Stock shall be deemed to have been sold for purposes of this Agreement). Any stock option
exercises or stock sales by the Executive between the Effective Date and the fourth anniversary of
the Effective Date shall be at the Executive’s own risk.

In addition, if, during the Employment Period, the Company shall terminate the Executive’s
employment other than for Cause or Disability or the Executive shall terminate employment for Good
Reason, in each case, prior to the fourth anniversary of the Effective Date (“Fourth Anniversary”),
then:

(A) If on the Fourth Anniversary the aggregate “spread” (as defined below) of the Initial Options
then held by Executive is less than $1.35 million, all such options shall terminate 30 days
thereafter unless exercised during such 30-day period. As soon as practicable following such
exercise of all of the Initial Options, but in no event earlier than the date six months after the
Date of Termination, the Company shall pay the Executive a supplemental payment equal to the excess
of $1.35 million over the aggregate fair market value (determined for the purposes of this Section
5, except as provided in (B) below, in accordance with the terms of the applicable option plan) of
the shares acquired upon such exercise as of the applicable exercise date. “Spread” as of any date
shall mean the difference between the fair market value of a share as of such date and the exercise
price per share of the option at issue.

(B) If on the Fourth Anniversary the aggregate fair market value (based on the average closing
price per share of Company common stock for the 15 preceding business days) of the vested Initial
Restricted Stock then held by the Executive is less than $1.35 million, the Company shall pay the
Executive a supplemental payment as soon as practicable following such date, but in no event
earlier than the date six months after the Date of Termination, equal to the difference between
$1.35 million and such aggregate fair market value.

The $1.35 million referenced above will be prorated to the extent the Executive has exercised any
of the Initial Options or sold any of the vested Initial Restricted Stock prior to the Fourth
Anniversary. For example, if the Executive has exercised twenty percent of the Initial Options
prior to the Fourth Anniversary, the supplemental payment referenced in (A) above shall be equal to
the excess of $1.08 million (representing 80 percent of $1.35 million) and the aggregate fair
market value of the shares acquired upon the Executive’s exercise of Initial Options during the 30
day period referenced above.

Furthermore, for the purpose of proration referenced above, any vested Initial Options the spread
of which continuously remained at or above $24 per share for a period of at least 15 business days
shall be deemed to have been exercised and any vested Initial Restricted Stock which relate to
Company shares the fair market value of which continually remained at or above $60 for a period of
at least 15 business days shall be deemed to have been sold.

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In the event the Company shall determine that any dividend or other distribution (whether in the
form of cash, stock, or other property), recapitalization, stock split, reverse split,
reorganization, merger, consolidation, spin-off, combination, repurchase, or share exchange, or
other similar corporate transaction or event, affects Company stock such that an adjustment to the
dollar amounts referred to in this Section 5(a) is appropriate to prevent dilution or enlargement
of the rights or value of the Executive under this Section 5, then the Company shall make such
equitable changes or adjustments as it deems necessary or appropriate to prevent such dilution or
enlargement of the rights or value of the Executive under this Section 5.

Notwithstanding anything herein to the contrary, no payments shall be made or benefits provided to
the Executive under this Section 5 unless the Executive shall have executed a release and waiver of
claims in the form acceptable to the Company (the “Release”) and any applicable revocation period
under such Release shall have expired.

(b) Death. If the Executive’s employment is terminated by reason of the Executive’s death during
the Employment Period, the Executive, his estate and/or beneficiaries shall be entitled to the
payments and other benefits provided for in Section 5(a) above, excluding the payment in a lump sum
of the amounts provided for under Section 5(a)(i).

(c) Disability. If the Executive’s employment is terminated by reason of the Executive’s Disability
during the Employment Period, this Agreement shall terminate without further obligations to the
Executive, other than for payment of Accrued Obligations, except that the Executive shall be
entitled to receive disability and other benefits at a level generally provided by the Company to
disabled executives and/or their families in accordance with such plans, programs, practices and
policies relating to disability, if any, as in effect generally for other peer executives and their
families.

(d) By the Company for Cause. If the Executive’s employment is terminated by the Company for Cause
during the Employment Period, this Agreement shall terminate without further obligations to the
Executive hereunder other than the obligation to pay to the Executive:

(i) the Annual Base Salary through the Date of Termination,

(ii) payment for any accrued vacation, and

(iii) the amount of any compensation previously deferred by the Executive; to the extent so
provided in the applicable deferred compensation plan or program.

In such case, a cash payment equal to the sum of all the above shall be paid to the Executive
within 30 days of the Date of Termination and with respect to any deferred compensation as provided
by that plan or program.

6. Non-Exclusivity of Rights.

Nothing in this Agreement shall prevent or limit the Executive’s continuing or future participation
in any plan, program, policy or practice provided by the Company or any of its

8

 

affiliated companies and for which the Executive may qualify, nor, subject to Section 11(g), shall
anything herein limit or otherwise affect such rights as the Executive may have under any contract
or agreement with the Company or any of its affiliated companies. Amounts that are vested benefits
or that the Executive is otherwise entitled to receive under any plan, policy, practice or program
of or any contract or agreement with the Company or any of its affiliated companies at or
subsequent to the Date of Termination shall be payable in accordance with such plan, policy,
practice or program or contract or agreement except as explicitly modified by this Agreement.

7. Full Settlement.

The Company’s obligation to make the payments provided for in this Agreement and otherwise to
perform its obligations hereunder shall not be affected by any set-off, counterclaim, recoupment,
defense or other claim, right or action that the Company or its affiliates may have against the
Executive or others. In no event shall the Executive be obligated to seek other employment or take
any other action by way of mitigation of the amounts payable to the Executive under any of the
provisions of this Agreement and such amounts shall not be reduced whether or not the Executive
obtains other employment.

8. Confidential Information; Noncompetition.

(a) Confidential Information. The Executive shall hold in a fiduciary capacity for the benefit of
the Company all secret, proprietary or confidential information, knowledge or data relating to the
Company or any of its affiliated companies, and their respective businesses, which shall have been
obtained by the Executive during the Executive’s employment by the Company or any of its affiliated
companies. During the period the Executive is employed with the Company and for a period of 24
months after termination of the Executive’s employment with the Company, the Executive shall not,
without the prior written consent of the Company or as may otherwise be required by law or legal
process, communicate or divulge any such information, knowledge or data to anyone other than the
Company or in the course of performing his obligations hereunder. The restrictions set forth in
this Section 8 will not apply to information that is generally known to the public or in the trade,
unless such knowledge results from an unauthorized disclosure by the Executive or representatives
of the Executive in violation of this Agreement. This exception will not affect the application of
any other provisions of this Agreement to such information in accordance with the terms of such
provision. All documents and tangible things embodying or containing confidential information are
the Company’s exclusive property. The Executive will protect the confidentiality of their content
and will return all copies, facsimiles and specimens of them and any other form of confidential
information in the Executive’s possession, custody or control to the Company before leaving the
employment with the Company.

(b) Noncompetition. In consideration of the benefits described in Section 5, until the Date of
Termination, and for a period of 18 months thereafter, the Executive shall not, directly or
indirectly, engage, participate or invest in or be employed by any business that is engaged in the
scientific and clinical laboratory research distribution business in the United States. The
foregoing restriction shall apply regardless of the capacity in which the Executive engages or
engaged, participates or participated, or invests or invested in or is or was employed by a given

9

 

business, whether as owner, partner, shareholder, consultant, agent, employee, co-venturer or
otherwise. The provisions of this Section 8(b) shall not prevent the Executive from acquiring or
holding publicly traded stock or other publicly traded securities of a business, so long as the
Executive’s ownership does not exceed two percent of the outstanding securities of such company of
the same class as those held by the Executive or from engaging in any activity or having an
ownership interest in any business that is approved by the Board of Directors. The Executive
understands that the restrictions set out in Sections 8(b) are intended to protect the Company’s
interest in its established customer relationships and goodwill, and agrees that such restrictions
are reasonable and appropriate for this purpose.

(c) Injunctive Relief. The Executive agrees that it would be difficult to measure any damages
caused to the Company that might result from any breach by the Executive of the provisions of
Section 8(b), and that in any event money damages would be an inadequate remedy for any such
breach. Accordingly, the Executive agrees that in the case of breach, or proposed breach, of such
provisions, the Company shall be entitled, in addition to all other remedies that it may have, to
seek an injunction or other appropriate equitable relief to restrain any such breach without
showing or proving any actual damage to the Company. However, in no event shall an asserted
violation of any provision of this Section 8 constitute a basis for deferring or withholding any
amounts or other benefits to which the Executive may be entitled under this Agreement.

9. Successors.

This Agreement is personal to the Executive and without the prior written consent of the Company
shall not be assignable by the Executive otherwise than by will or the laws of descent and
distribution. This Agreement shall inure to the benefit of and be enforceable by the Executive’s
legal representatives. This Agreement shall inure to the benefit of and be binding upon the Company
and its successors and assigns. The Company will require any successor (whether direct or indirect,
by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or
assets of the Company to assume expressly and agree to perform this Agreement in the same manner
and to the same extent that the Company would be required to perform it if no such succession had
taken place. As used in this Agreement, “Company” shall mean the Company as hereinbefore defined
and any successor to its business and/or assets as aforesaid by operation of law, or otherwise.

10. Indemnification.

Both during the Employment Period and after termination of the Executive’s employment for any
reason, the Company, or any subsidiary or successor of the Company of which the Executive is an
officer or member of the board of directors, shall indemnify the Executive to the fullest extent
required or permitted by its bylaws and applicable law.

11. Miscellaneous.

(a) Governing Law. This Agreement shall be governed by and construed in accordance with the laws of
the State of Delaware, without reference to principles of conflict of laws. The captions of this
Agreement are not part of the provisions hereof and shall have no force or effect. This

10

 

Agreement may not be amended or modified otherwise than by a written agreement which specifically
references this Agreement and is executed by the parties hereto or their respective successors and
legal representatives.

(b) Notices. All notices and other communications hereunder shall be in writing and shall be given
by hand delivery to the other party or by registered or certified mail, return receipt requested,
postage prepaid, addressed as follows:

IF TO THE EXECUTIVE:

Mark D. Roellig

10936 Pine Drive

Parker, CO 80138

IF TO THE COMPANY:

Attention: Chief Executive Officer

Fisher Scientific International Inc.

Liberty Lane

Hampton, NH 03842

or to such other address as either party shall have furnished to the other in writing in accordance
herewith. Notice and communications shall be effective when actually received by the addressee.

(c) Severability. The invalidity or unenforceability of any provision of this Agreement shall not
affect the validity or enforceability of any other provision of this Agreement.

(d) Withholding. The Company may withhold from any amounts payable under this Agreement such
Federal, state, local or foreign taxes as shall be required to be withheld pursuant to any
applicable law or regulation.

(e) Waiver. The Executive’s or the Company’s failure to insist upon strict compliance with any
provision hereof or any other provision of this Agreement or the failure to assert any right the
Executive or the Company may have hereunder, including, without limitation, the right of the
Executive to terminate employment for Good Reason, shall not be deemed to be a waiver of such
provision or right or any other provision or right of this Agreement.

(f) Code Section 409A. Notwithstanding anything in this Agreement or any other plan or agreement to
the contrary, to the extent subject thereto all payments or benefits provided to the Executive
shall comply with all applicable provisions of Section 409A of the Internal Revenue Code of 1986,
as amended (and any related regulations or guidance).

(g) Entire Agreement. This Agreement shall supersede any other earlier or subsequent agreement
between the parties with respect to the subject matter hereof; provided, however, this Agreement
shall be subject to the Company’s conduct of a background check of the Executive and shall not be
effective unless the Company receives a positive report as a result of such action. In the event

11

 

the Company repudiates or revokes this Agreement without Cause prior to the Effective Date (other
than for a negative report resulting from the Company’s conduct of a background check of the
Executive), such repudiation or revocation shall be deemed to occur immediately following the
Effective Date.

12. Arbitration of Disputes.

Except as provided in Section 8(c) above, any dispute or controversy arising under or in connection
with this Agreement shall be settled exclusively by arbitration in New York, New York in accordance
with the rules of the American Arbitration Association then in effect. The prevailing party in any
arbitration (as determined by the arbitrator) shall recover its expenses and costs including
attorney’s fees from the non-prevailing party.

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IN WITNESS WHEREOF, the Executive has hereunto set the Executive’s hand and, pursuant to the
authorization from the Compensation Committee of its Board of Directors, the Company has caused
this Agreement to be executed in its name on its behalf, all as of the day and year first above
written.

	 	 	 	 	 
	Fisher Scientific International, Inc.	 	Executive
	 
	 	 	 	 
	 
	 	 	 	 
	By:
	 	/s/ Paul M. Meister	 	/s/ Mark D. Roellig
	

	 	

	 	

	

	 	Vice Chairman	 	Mark D. Roellig

13

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