Document:

exv10w98

 

EXHIBIT 10.98

GEN-PROBE INCORPORATED 

2007 EXECUTIVE BONUS PLAN

          The Gen-Probe Incorporated 2007 Executive Bonus Plan (the “Plan”) is designed to
motivate and reward certain executive officers of Gen-Probe Incorporated (the “Company”) to
produce results that increase stockholder value and to encourage individual and team behavior that
helps the Company achieve both short and long-term corporate objectives.

          The Board of Directors of the Company (the “Board”) has adopted this Plan, effective
with respect to bonus awards for Plan Years beginning on or after January 1, 2007, subject to
approval of the Plan by the stockholders of the Company.

ARTICLE I.

CERTAIN DEFINITIONS

          Section 1.1 — Base Compensation. “Base Compensation” of a Participant for a
Plan Year shall mean the Participant’s regular base salary, excluding moving expenses, bonus pay
and other payments which are not considered part of regular base salary, paid during such Plan
Year.

          Section 1.2 — Change in Control. “Change in Control” shall have the meaning
given to such term in the Incentive Award Plan.

          Section 1.3 — Code. “Code” shall mean the Internal Revenue Code of 1986, as
amended.

          Section 1.4 — Committee. “Committee” shall mean the Compensation Committee of
the Board, or such other committee as may be appointed by the Board consisting solely of two or
more Directors, each of whom qualifies as an “outside director” for purposes of Section 162(m) of
the Code.

          Section 1.5 — Common Stock. “Common Stock” shall mean the common stock, par
value $0.0001 per share, of the Company.

          Section 1.6 — Director. “Director” shall mean a member of the Board.

          Section 1.7 — Eligible Individual. “Eligible Individual” shall mean the
Company’s Chief Executive Officer and President and such other employees of the Company as the
Committee may determine in its discretion.

          Section 1.8 — Fair Market Value. “Fair Market Value” shall have the meaning
given to such term in the Incentive Award Plan.

          Section 1.9 — Incentive Award Plan. “Incentive Award Plan” shall mean the
Gen-Probe Incorporated 2003 Incentive Award Plan, as amended and restated.

 

 

          Section 1.10 — Paid Leave of Absence. “Paid Leave of Absence” shall mean a
period of time during which a Participant performs no duties due to an illness, incapacity
(including disability), layoff, jury duty, military duty or a leave of absence for which the
Participant is so paid or so entitled to payment by the Company, whether direct or indirect, but
excluding vacation time.

          Section 1.11 — Participant. “Participant” shall mean any Eligible Individual
selected by the Committee to receive a bonus award under the Plan.

          Section 1.12 — Plan Year. Each “Plan Year” shall run from January 1st through
December 31st.

ARTICLE II.

BONUS AWARDS

          Section 2.1 — Participants; Bonus Awards. The Committee, in its discretion,
may grant bonus awards under the Plan with regard to any given Plan Year to one or more of the
Eligible Individuals. At the time a bonus award is granted pursuant to this Section 2.1, the
Committee shall specify a bonus amount to be paid upon the achievement of the performance goals
established in accordance Section 2.2, which bonus amount may be a specific dollar amount, or a
specified percentage of the Participant’s Base Compensation for a Plan Year, subject to Section
2.4.

          Section 2.2 — Performance Goals. For each Plan Year with regard to which one
or more Eligible Individuals is selected by the Committee to receive a bonus award under the Plan,
the Committee shall establish in writing one or more objectively determinable performance goals for
such bonus award, based upon one or more of the following business criteria, any of which may be
measured either in absolute terms or as compared to any incremental increase or as compared to the
results of a peer group:

	 	•	 	revenue;
	 
	 	•	 	sales;
	 
	 	•	 	cash flow;
	 
	 	•	 	earnings per share of Common Stock (including earnings before any one or
more of the following: (i) interest, (ii) taxes, (iii) depreciation, and
(iv) amortization);
	 
	 	•	 	return on equity;
	 
	 	•	 	total stockholder return;
	 
	 	•	 	return on capital;
	 
	 	•	 	return on assets or net assets;
	 
	 	•	 	income or net income;
	 
	 	•	 	operating income or net operating income;

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	 	•	 	operating profit or net operating profit;
	 
	 	•	 	operating margin;
	 
	 	•	 	cost reductions or savings;
	 
	 	•	 	research and development expenses (including research and development
expenses as a percentage of sales or revenues);
	 
	 	•	 	working capital; and
	 
	 	•	 	market share.

          Depending on the performance criteria used to establish such performance goals, the
performance goals may be expressed in terms of overall Company performance or the performance of a
division or business unit. The Committee, in its discretion, may specify different performance
goals for each bonus award granted under the Plan. The Committee shall, within the time prescribed
by Section 162(m) of the Code, define in an objective fashion the manner of determining whether and
to what extent the specified performance goal has been achieved for the Plan Year; provided,
however, that, subject to Section 2.3, the achievement of each performance criteria shall be
determined in accordance with United States generally accepted accounting principles
(“GAAP”) to the extent applicable.

          Section 2.3 — Adjustments to Performance Components. For each bonus award
granted under the Plan, the Committee, in its discretion, may, at the time of grant, specify in the
bonus award that one or more objectively determinable adjustments shall be made to one or more of
the performance goals established under Section 2.2. Such adjustments may include or exclude one
or more of the following:

	 	•	 	items that are extraordinary or unusual in nature or infrequent in
occurrence;
	 
	 	•	 	items related to a change in accounting principle;
	 
	 	•	 	items related to financing activities;
	 
	 	•	 	expenses for restructuring or productivity initiatives;
	 
	 	•	 	other non-operating items;
	 
	 	•	 	items related to acquisitions;
	 
	 	•	 	items attributable to the business operations of any entity acquired by
the Company during the Plan Year;
	 
	 	•	 	items related to the disposal of a business or segment of a business;
	 
	 	•	 	items related to discontinued operations that do not qualify as a
segment of a business under GAAP; and
	 
	 	•	 	any other items of significant income or expense which are determined to
be appropriate adjustments.

          The amount of any adjustment made pursuant to this Section 2.3 shall be determined in
accordance with GAAP.

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          Section 2.4 — Award Limit. The maximum aggregate amount of all bonus awards
granted to a Participant under this Plan with regard to any Plan Year shall not exceed $3,000,000.
For purposes of this Section 2.4, bonus award payments made in shares of Common Stock shall count
against aggregate bonus award limit based upon the Fair Market Value of such shares on the date the
bonus award payment is made.

          Section 2.5 — Other Incentive Awards. The Plan is not the exclusive means for
the Committee to award incentive compensation to Participants and does not limit the Committee from
making additional discretionary incentive awards.

ARTICLE III.

PAYMENT OF BONUS AWARD

          Section 3.1 — Form of Payment. Each Participant’s bonus award may be paid, at
the option of the Committee, in cash, or in Common Stock or right to receive Common Stock (such as
restricted stock or restricted stock units), or in any combination of cash and Common Stock or
right to receive Common Stock (such as restricted stock or restricted stock units). Bonus award
payments made in Common Stock shall be made in accordance with the provisions of the Incentive
Award Plan.

          Section 3.2 — Certification; Timing of Payment. Prior to the distribution of
any bonus award payment, the Committee shall certify in writing the level of performance attained
by the Company (relative to the applicable performance goals determined pursuant to Section 2.2
(including any adjustments under Section 2.3)) for the Plan Year to which such bonus award relates.
Bonus award payments will be made following the close of the Plan Year after the review and
certification of bonus award payments by the Committee.

          Section 3.3 — Negative Discretion. The Committee, in its discretion, may
reduce or eliminate the bonus amount otherwise payable to any Participant under a bonus award.

          Section 3.4 — Terminations. Except as provided in Section 3.5, if a
Participant’s employment with the Company is terminated for any reason other than death or
disability prior to payment of any bonus award payment, all of the Participant’s rights under the
Plan shall terminate and the Participant shall not have any right to receive any further payments
with respect to any bonus award granted under the Plan. The Committee, in its discretion, may
determine what portion, if any, of the Participant’s bonus award under the Plan should be paid if
the Participant’s employment has been terminated by reason of death or disability.

          Section 3.5 — Change in Control. If a Change in Control occurs after the
close of a Plan Year, a Participant’s bonus award will be paid based on performance in relation to
the specified performance goals. If a Change in Control occurs during the Plan Year, the
Participant will be paid a bonus prorated to the effective date of the Change in Control and all
performance goals will be deemed to be met at the greater of 100% of the performance goal or the
actual prorated year-to-date performance. Notwithstanding anything to the contrary in Section 3.2,
the payment of a bonus pursuant to this Section 3.5 shall be paid within 30 days of the effective
date of the Change in Control. The Participant must be employed by the Company or its successor on
the effective date of the Change in Control in order to receive a bonus payment pursuant to this
Section 3.5.

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ARTICLE IV.

SECTION 162(M) OF THE CODE

          Section 4.1 — Qualified Performance Based Compensation. The Committee, in its
discretion, may determine whether a bonus award should qualify as performance-based compensation as
described in Section 162(m)(4)(C) of the Code and the treasury regulations thereunder and may take
such actions as it may deem necessary to ensure that such bonus award will so qualify.

          Section 4.2 — Performance Goals.

          (a) The Committee may, in its discretion, establish the specific performance goal or goals
under Section 2.2 that must be achieved in order for a Participant to become eligible to receive a
bonus award payment (including any specific adjustments to be made under Section 2.3). The
performance goals (including any adjustments) shall be established in writing by the Committee;
provided, however, that the achievement of such goals shall be substantially uncertain at the time
such goals are established in writing.

          (b) With respect to any bonus award which the Committee determines should qualify as
performance-based compensation, the applicable performance goals described in Section 2.2
(including any adjustments to be made under Section 2.3) shall be established in writing no later
than the 90th day following the commencement of the period of service to which the performance
goals relate; provided, however, that in no event shall the performance goals be established after
25% of the period of service (as scheduled in good faith at the time the performance goals are
established) has elapsed.

ARTICLE V.

ADMINISTRATION

          Section 5.1 — Committee.

          (a) The Committee shall consist solely of two or more Directors appointed by and holding
office at the pleasure of the Board, each of whom constitutes an “outside director” within the
meaning of Section 162(m)(4)(C) of the Code and the treasury regulations thereunder.

          (b) Appointment of Committee members shall be effective upon acceptance of appointment.
Committee members may resign at any time by delivering written notice to the Board. Vacancies in
the Committee shall be filled by the Board.

          Section 5.2 — Duties and Powers of Committee. It shall be the duty of the
Committee to conduct the general administration of the Plan in accordance with its provisions. The
Committee shall have the power to interpret the Plan, and to adopt such rules for the
administration, interpretation and application of the Plan as are consistent therewith and to
interpret, amend or revoke any such rules. In its absolute discretion, the Board may at any time
and from time to time exercise any and all rights and duties of the Committee under the Plan except
with respect to matters which under Section 162(m) of the Code are required to be determined in the
sole and absolute discretion of the Committee.

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          Section 5.3 — Determinations of the Committee or the Board. All actions taken
and all interpretations and determinations made by the Committee or the Board in good faith shall
be final and binding upon all Participants, the Company and all other interested persons. No
members of the Committee or the Board shall be personally liable for any action, inaction,
determination or interpretation made in good faith with respect to the Plan or any bonus award, and
all members of the Committee and the Board shall be fully protected by the Company in respect of
any such action, determination or interpretation.

          Section 5.4 — Majority Rule; Unanimous Written Consent. The Committee shall
act by a majority of its members in office. The Committee may act either by majority vote at a
meeting or by a memorandum or other written instrument signed by all of the members of the
Committee.

ARTICLE VI.

OTHER PROVISIONS

          Section 6.1 — Amendment, Suspension or Termination of the Plan. This Plan may
be wholly or partially amended or otherwise modified, suspended or terminated at any time or from
time to time by the Board or the Committee. However, with respect to bonus awards which the
Committee determines should qualify as performance-based compensation as described in Section
162(m)(4)(C) of the Code, no action of the Board or the Committee may modify the performance goals
(or adjustments) applicable to any outstanding bonus award, to the extent such modification would
cause the bonus award to fail to qualify as performance-based compensation.

          Section 6.2 — Effective Date. This Plan shall be effective upon approval by
the Board (the “Plan Effective Date”), subject to stockholder approval. The Committee may
grant bonus awards under the Plan at any time on or after the Plan Effective Date.

          Section 6.3 — Approval of Plan by Stockholders. This Plan shall be submitted
for the approval of the Company’s stockholders at the annual meeting of stockholders to be held in
2007. In the event that this Plan is not so approved, this Plan shall cease to be effective and no
payment shall be made with respect to any bonus award granted under the Plan.

          Section 6.4 — Tax Withholding. The Company shall have the authority and the
right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient
to satisfy federal, state, local and foreign taxes required by law to be withheld with respect to
any taxable event concerning a Participant arising in connection with a bonus award granted under
this Plan.

6exv10w99

 

EXHIBIT 10.99

AGREEMENT

     THIS AGREEMENT (hereinafter “Agreement”) is made and entered into by and between Larry T.
Mimms, Ph.D. (hereinafter “DR. MIMMS”), on the one hand, and Gen-Probe Incorporated, its parents,
subsidiaries, related entities, predecessors, successors, officers, directors, agents, employees
and assigns (hereinafter collectively “GEN-PROBE”), on the other hand.

     1. Resignation of Employment. DR. MIMMS hereby resigns from all positions of
employment with GEN-PROBE and its affiliates, including but not limited to his position as
Executive Vice President, Research & Development, as of April 16, 2007 (the “Resignation Date”).
DR. MIMMS’ employment with GEN-PROBE shall terminate, for all purposes, as of the Resignation Date.

     2. Consideration to Dr. Mimms and Tax Liability.

          a. Compensation. GEN-PROBE agrees to pay DR. MIMMS severance benefits at a rate equal
to his current Base Salary (less applicable withholding taxes) for the period commencing on the
Resignation Date and continuing through July 16, 2008. These severance payments shall be paid on
GEN-PROBE’s regular paydays in accordance with the Company’s customary payroll practices. DR.
MIMMS will not be entitled to any compensation of any kind whatsoever other than that expressly set
forth in this Paragraph 2(a), provided, however, that he shall be entitled to any stock options
previously granted to him and vested as of the Resignation Date, in accordance with the terms of
the applicable plans and agreements.

          b. Health Care and Life Insurance Coverage. GEN-PROBE shall provide DR. MIMMS with
continued health care coverage under GEN-PROBE’s medical plan, without charge, to DR. MIMMS and his
eligible dependents until the earlier of (i) July 16, 2008 or (ii) the first date that DR. MIMMS is
covered under another employer’s health benefit program providing substantially the same or better
benefit options to DR. MIMMS without exclusion for any pre-existing medical condition. The period
of time medical coverage continues under this agreement will be counted as coverage time under
COBRA. GEN-PROBE will pay the premium for continued life insurance coverage, if any, that DR.
MIMMS may have elected under GEN-PROBE’s Life Insurance and Supplemental Life Insurance plan,
subject to payment by DR. MIMMS of the portion of such premium not contributed by GEN-PROBE under
such plan, through July 16, 2008.

          c. Transition Services. GEN-PROBE agrees to provide DR. MIMMS with transition support
services during the first three months of the Salary Continuation Period. At DR. MIMMS’ option,
GEN-PROBE agrees to provide DR. MIMMS, in lieu of such services, the sum of $5,000, minus
applicable taxes.

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          d. No Other Consideration or Obligation. DR. MIMMS acknowledges and agrees that, upon
performance of this Agreement by GEN-PROBE, he will have been paid all salary, overtime, bonuses,
vacation, commissions and other compensation and benefits earned or accrued during his employment
with GEN-PROBE. DR. MIMMS expressly acknowledges that he is not entitled, pursuant to company
policy, prior contracts, other agreements or otherwise, to any other payment, benefit or
consideration of any type whatsoever in connection with the termination of his employment with
Gen-Probe.

          e. Tax Matters. All compensation described in this Paragraph 2 will be subject to
GEN-PROBE’s collection of all applicable federal, state and local income and employment withholding
taxes. DR. MIMMS specifically agrees, upon the advice of counsel, that he alone is and will be
fully responsible for the payment of any and all amounts any governmental or tax authorities may
claim are due, if any, on the consideration paid to him pursuant to this Agreement. DR. MIMMS
further acknowledges that GEN-PROBE is relying on, among other things, this specific promise in
entering into this Agreement. DR. MIMMS agrees to release, indemnify and hold harmless GEN-PROBE,
from any and all claims by DR. MIMMS or any local, state or federal government agency for any
unpaid taxes. Gen-Probe shall issue and file an IRS Form 1099 regarding payments under this
Paragraph 2.

     3. General Release.

          a. In exchange for the consideration described herein, DR. MIMMS on his own behalf and on
behalf of his heirs and assigns, hereby voluntarily, completely and irrevocably releases and
discharges Gen-Probe, including Gen-Probe’s officers, directors, shareholders, employees,
attorneys, insurers, agents, successors, assigns and all related representatives and organizations
(all collectively referred to herein as “GEN-PROBE”), from any and all obligations, liabilities,
claims and causes of action of any kind whatsoever, arising out of or related to DR. MIMMS’
employment with GEN-PROBE or termination of that employment, including but not limited to, any and
all claims or causes of action for wrongful termination, breach of contract, acting in bad faith,
negligent or intentional infliction of emotional distress, negligent or intentional
misrepresentation, negligent or intentional interference with contract or prospective economic
advantage, violation of any employment policies, defamation in any form, any discrimination on the
basis of race, sex, age, national origin, veteran status, mental or physical disability, religion,
sexual orientation, pregnancy status, marital status and/or any other employment-related claim or
cause of action brought under state or federal law or pursuant to any administrative proceeding
statutory claims.

          b. DR. MIMMS understands that various state and federal laws prohibit employment
discrimination based on age, race, color, sex, religion, national origin, marital status, ancestry,
handicap, disability, medical condition and other factors, and prohibits harassment of any sort
based on any of those factors. DR. MIMMS understands and agrees that by signing this Agreement, he
is waiving (among other things) any rights he has or may have had to pursue any and all available
remedies against GEN-PROBE under these employment discrimination laws and/or any other
employment-related causes of action, including, without limitation, claims arising under: the Age
Discrimination in Employment Act as amended, 29 U.S.C. § 621 et seq.; Title VII of the Civil Rights
Act of 1964, as amended by the Civil Rights

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Act of 1991, 42 U.S.C. § 2000 et seq.; the Civil Rights Act of 1866, 42 U.S.C. § 1981; the Family and Medical Leave Act of
1993, 29 U.S.C. § 2601 et seq.; the Americans with Disabilities Act of 1990, 42 U.S.C. § 12101 et
seq.; the False Claims Act , 31 U.S.C. § 3729 et seq.; the Fair Labor Standards Act, 29 U.S.C. §
215 et seq., as well as claims under the California Fair Employment and Housing Act, Cal. Govt.
Code § 12900 et seq.; or under the California Labor Code), known or unknown, existing or potential,
with respect to DR. MIMMS’ employment with Gen-Probe.

          c. This Release is intended to be interpreted as broadly as possible and to apply to any and
all claims available to DR. MIMMS in any forum.

          d. The release set forth above includes the waiver of all unknown Claims, including an express
waiver of DR. MIMMS’ rights under California Civil Code section 1542, which provides:

A general release does not extend to claims which the creditor does not
know or suspect to exist in his favor at the time of executing the
release, which if known by him would have materially affected his
settlement with the debtor.

DR. MIMMS has read and understands section 1542, and agrees to waive all rights under section 1542.
DR. MIMMS expressly agrees and understands that this Agreement shall apply to all unknown and
unsuspected claims, despite the fact that he may later discover facts in addition to or different
from those which he now believes to be true.

     4. Older Workers’ Benefit Protection Act. This Agreement is intended to release and
discharge any claims by DR. MIMMS under the Age Discrimination and Employment Act. To satisfy the
requirements of the Older Workers’ Benefit Protection Act, the parties agree as follows:

          a. DR. MIMMS acknowledges that he has read and understands the terms of this Agreement.

          b. DR. MIMMS acknowledges that he has been advised to consult with an attorney, if desired,
concerning this Agreement and has received all advice he deems necessary concerning this Agreement.

          c. DR. MIMMS acknowledges that he has been given 21 days to consider whether to enter into
this Agreement, and has taken as much of this time as he deems necessary to consider whether to
enter into this Agreement.

          d. For a seven day period following the execution of this Agreement, DR. MIMMS may revoke this
Agreement by delivering a written revocation to the following person: Diana R. De Walt, Vice
President, Human Resources, Gen-Probe Incorporated, 10210 Genetic Center Drive, San Diego, CA
92121. This Agreement shall not become effective and enforceable until the revocation period has
expired (the “Effective Date”).

Page 3 of 6

 

          e. DR. MIMMS acknowledges that he is entering into this Agreement freely and voluntarily and
without coercion, duress, fraud or undue influence of any kind whatever.

     5. Promise Not to Prosecute. DR. MIMMS agrees that he will not prosecute or allow to
be prosecuted on his behalf, in any court or other forum, whether state or federal, any claim or
demand of any type related to the matters released above, it being the intention of the parties
that with the execution of this Agreement, except for the payments and benefits described in this
Agreement, GEN-PROBE will be absolutely, unconditionally and forever discharged of and from all
obligations to or on behalf of DR. MIMMS and his successors. DR. MIMMS agrees that in the event
any released Claim is instituted by him or on his behalf, this Agreement shall constitute an
affirmative defense to such Claim sufficient to warrant the immediate dismissal, with prejudice, of
such Claim.

     6. No Pending Claims. DR. MIMMS represents he has no pending claim with the Equal
Employment Opportunity Commission or Department of Fair Employment and Housing. To the extent such
claims exist, DR. MIMMS will take all actions in his power to withdraw, effective upon signing this
Agreement, any and all allegations of wrongdoing made against GEN-PROBE filed with or reported to
any governmental agency, including any and all claims submitted to the Department of Fair
Employment and/or the Equal Employment Opportunity Commission.

     7. Unknown or Different Facts or Law. DR. MIMMS acknowledges that he may discover
facts or law different from, or in addition to, the facts or law he knows or believes to exist with
respect to a released claim. He agrees, nonetheless, that this Agreement and the releases
contained in it shall be and remain effective in all respects notwithstanding such different or
additional facts or law.

     8. Participation in Litigation. DR. MIMMS agrees that he will not voluntarily
participate in, be a witness in, be a party to, or otherwise voluntarily involve himself in any
potential claim or litigation against GEN-PROBE. DR. MIMMS further agrees that he will not
voluntarily assist or encourage in any manner whatsoever any person, party, or litigant, in any
claim, potential claim or action, against GEN-PROBE.

     9. Advice of Counsel. DR. MIMMS and GEN-PROBE acknowledge and agree that they have
been supplied with, have read and have had an opportunity to discuss the terms of this Agreement
with their respective legal counsel. Each party further warrants and agrees that he/it fully
understands the contents and effect of this document, approves and voluntarily accepts the terms
and provisions of the Agreement with full knowledge of their significance, agrees to be bound by
the Agreement.

     10. Confidential Information. DR. MIMMS agrees that during his employment he has had
access to confidential information. DR. MIMMS hereby agrees he is bound by the Proprietary
Information and Inventions Agreement, he will not disclose any confidential information acquired
during his employment to any other person or entity and will not use any confidential information
acquired during his employment in any manner detrimental to Gen-Probe’s interests.

Page 4 of 6

 

     11. No Admission of Liability. It is understood and agreed by the Parties that this
Agreement is not an admission of liability on the part of GEN-PROBE.

     12. No Assignment. DR. MIMMS warrants and represents that he has not assigned or
transferred to any person any released matter or any right to any of the consideration provided by
GEN-PROBE pursuant to this Agreement. Notwithstanding the above, the parties agree that DR. MIMMS’
obligations under the Proprietary Information and Inventions Agreement survive this Agreement.

     13. Entire Agreement. This Agreement contains the entire agreement between the
parties with respect to DR. MIMMS’ employment with GEN-PROBE, the termination of such employment,
and the other matters addressed in this Agreement. There are no collateral agreements, written or
oral that are not contained in this Agreement. The parties acknowledge and agree that no promises
or representations were made to them which do not appear in this Agreement. This Agreement may
only be modified by a written instrument signed by DR. MIMMS and GEN-PROBE.

     14. No Presumption Against Drafter. DR. MIMMS agrees that this Agreement has been
negotiated and that no provision contained herein shall be interpreted against any party because
that party drafted the provision.

     15. Severability. Should a court determine that any term of this Agreement is
unenforceable, that term shall be deemed to be deleted. However, the validity and enforceability
of the remaining terms shall not be affected by the deletion of the unenforceable term.

     16. Arbitration. Any controversy or dispute relating to, arising out of, or in any
way connected to any provision of this Agreement shall be finally resolved by final and binding
arbitration in accordance with this Paragraph by a single arbitrator who is a former state or
federal judge, to be conducted in San Diego, California. DR. MIMMS and GEN-PROBE waive any rights
to a jury trial in connection with such claims or disputes. Unless the parties agree otherwise,
the arbitration shall be conducted by former state or federal judge appointed by the American
Arbitration Association, or by any similar arbitration provider if AAA is no longer in existence or
unable to appoint a former state or federal judge to serve as arbitrator. The costs of the
arbitration, including the fees of the arbitrator, shall be borne exclusively by Gen-Probe. The
arbitrator’s decision shall be delivered in writing and shall disclose the essential findings and
conclusion on which the arbitrator’s decision is based. The parties shall be permitted to conduct
adequate discovery to allow for a full and fair exploration of the issues in dispute in the
arbitration proceeding. The arbitrator may grant any relief which otherwise would have been
available to the parties in a court proceeding. The decision and award of the arbitrator shall be
final and binding, and judgment upon the arbitrator’s award may be entered by any court of
competent jurisdiction.

Page 5 of 6

 

     17. Counterparts. This Agreement may be executed in counterparts and shall be binding
on all parties when each has signed either an original or a copy of this Agreement.

The parties acknowledge that they have read this Agreement carefully and fully understand each and
every provision contained herein, and intend to be bound by all of its terms.

	 	 	 	 	 	 	 
	Dated: April 16, 2007	 	/s/ Larry T. Mimms	 	 
	 	 	 	 	 
	 	 	Larry T. Mimms, Ph.D.	 	 
	 
	 	 	 	 	 	 
	Date: April 16, 2007	 	Gen-Probe Incorporated	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Diana De Walt
	 	 
	 

	 	 	 	 	 	 
	 	 	Diana De Walt 

Vice President, Human Resources	 	 

Page 6 of 6

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