Document:

Separation Agreement and General Release of All Claims

 Exhibit 10.45 
 SEPARATION AGREEMENT 
 AND GENERAL RELEASE OF ALL CLAIMS 

This Separation Agreement and General Release of All Claims (“Agreement”) is made this 5th day of April, 2012 (the
“Effective Date”), by and between CryoPort, Inc., a Nevada corporation, and CryoPort Systems, Inc., a California corporation (collectively, the “Company”), on the one hand, and Larry G. Stambaugh (“Executive”) in the
complete, final, and binding settlement of all claims and potential claims, if any, with respect to their employment relationship. 
 RECITALS 
 A. Executive has been employed by the Company, pursuant to the
terms of that certain Amended and Restated Employment dated as of December 22, 2010 (the “Employment Agreement”) and held the positions of Chief Executive Officer and Chairman of the Board. 

B. Executive is also a member of the Company’s Board of Directors. 

C. Executive and Company hereby terminate their employment relationship as of the Effective Date, and wish to resolve amicably and
finally all matters between them, including, but in no way limited to, those matters relating to the employment relationship between them, the termination of that relationship, including the basis therefor, and their respective positions regarding
the payment of any severance in connection with said termination. 
 D. Company has agreed to provide Executive with certain
rights and benefits (as described below) in exchange for Executive’s full release of any and all claims that Executive may have against the Company and/or any of the “Executive Released Parties” (as that term is defined below) as
provided herein, and all of the other covenants, promises and terms contained in the this Agreement. 
 NOW, THEREFORE, IN
RELIANCE OF THE ABOVE RECITALS AND IN CONSIDERATION of the promises, covenants and agreements herein contained, the parties agree as follows: 
 1. The parties hereby agree that their employment relationship and the Employment Agreement are hereby terminated as of the Effective Date, including termination of all of the offices and other positions
held by Executive with the Company. Executive acknowledges and agrees that he will have no further duties or responsibilities and no further authority on behalf of the Company after the Effective Date, other than as specifically set forth herein. In
addition, upon execution of this Agreement, Executive shall tender his resignation from the Company’s Board of Directors. 

2. The Company will pay Executive all wages, salary, bonuses, benefits, and vacation pay or any other monies owed by Company to Executive
through April 5, 2012 (collectively, the Wages”) on April 6, 2012, by issuing two checks for $6,923.08 and $50,870.77, subject to deductions for applicable withholding required by law. If the two checks are not issued to Executive on April 6,
2012, this Agreement shall be null and void. In addition, there are two outstanding expense reports for business expenses incurred in the ordinary course by Executive, for which Executive will be reimbursed by the Company after processing in the
ordinary course, consistent with Company policies in place at the time the expenses were incurred. 
 3. Executive agrees to
promptly return all Company property remaining in Executive’s possession, including but not limited to credit cards, computer hardware, computer software, computer files, printers, cell phones, keys, and documents (and all copies). Executive
acknowledges that there is Company information on his personal lap top computer and smart phone (the Devices”). Executive agrees to meet with the Company’s Chief Financial Officer, as soon as practicable, in order to arrange for (a)
transfer of all Company information contained on the Devices to the Company and (b) deletion of all Company information on these Devices. Executive also agrees to promptly return any subsequently discovered Company property. 

  
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 4. In consideration for the promises and representations of Executive as described in this
Agreement: 
 A. the Company will pay Executive a severance amount equal to $180,000, payable in a lump sum within ten (10) days
after receipt of this Agreement signed by Executive with no revocation received, subject to deductions for applicable withholding required by law; 
 B. the Company agrees to continue Executive’s existing healthcare insurance benefits under COBRA and/or Cal-COBRA until March 31, 2013 (the “Continuation Period”) with the Company paying
the employer portion and Executive paying his co-payment portion in the same proportions as provided for during Executive’s employment, currently expected to be $1,389.84 per month for the Company’s portion and $740.62 per month for the
Executive’s portion for April 2012; provided, however, that if Executive becomes eligible for healthcare insurance benefits under any other employer’s group healthcare insurance benefit plan before the expiration of the Continuation
Period, Executive shall promptly notify the Company and the Company’s obligation to pay the Company’s portion of the COBRA premium shall cease as of the first date on which Executive is eligible for healthcare insurance benefits under the
other employer’s group healthcare insurance benefit plan; and 
 C. the exercise period of the two stock options granted to
Executive on September 10, 2010, with exercise prices of $0.66 per share, shall be extended for a period of five (5) years from the Effective Date as to those underlying shares of common stock vested as of the Effective Date, which for the sake of
clarity amount to 362,232 and 210,000 respectively, notwithstanding any other provisions to the contrary contained in the stock option agreements (and/or applicable incentive stock option plan), including the option expiration dates. For avoidance
of doubt, Executive acknowledges and agrees that all other stock options held by Executive as of the Effective Date shall cease to vest on the Effective Date and shall cease to be exercisable in accordance with the respective stock option agreements
(and/or applicable incentive stock option plan). 

  
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 5. In exchange for the releases and mutual promises contained herein, Executive hereby
irrevocably and unconditionally releases, acquits, and forever discharges the Company, and all parent, subsidiary, sister, and affiliated corporations and entities of the Company, as well as all of its past and present, officers, directors,
employees, representatives, consultants, contractors, any human resources or payroll services provider, and attorneys, and all persons acting by, through, under or in concert with any of them, and each of their respective heirs, successors, and
assigns (collectively, “Executive Released Parties”), or any of them, from any and all charges, complaints, claims, liabilities, obligations, promises, agreements, controversies, damages, actions, causes of action, suits, rights, demands,
costs, losses, debts and expenses (including attorneys’ fees and costs actually incurred) of any nature whatsoever, known or unknown, suspected or unsuspected, including, but not limited to, rights arising out of alleged violations of any
contracts, express or implied, any covenant of good faith and fair dealing, express or implied, or any tort including defamation, or any legal restrictions on the Company’s right to terminate employees, or any federal, state or other
governmental statute, regulation or ordinance, including, without limitation: 
  

	 	(1)	The Civil Rights Act of 1964, as amended; 

  

	 	(2)	42 U.S.C. § 1981; 

  

	 	(3)	The California Fair Employment and Housing Act; 

  

	 	(4)	Section 503 of the Rehabilitation Act of 1973; 

  

	 	(5)	The Americans With Disabilities Act, as amended; 

  

	 	(6)	The Fair Labor Standards Act (including the Equal Pay Act); 

  

	 	(7)	The California Constitution; 

  

	 	(8)	The California Labor Code; 

  

	 	(9)	The Family Medical Leave Act; 

  

	 	(10)	The California Family Rights Act; 

  

	 	(11)	The Executive Retirement Income Security Act, as amended; 

  

	 	(12)	Wage claims of all types, whether for non-payment, late payment, overtime, rest periods, meal periods, deductions and/or penalties; 

 

	 	(13)	Wrongful termination in violation of public policy; and 

  

	 	(14)	Unfair business practices (collectively, “claim” or “claims”) 

 which Executive now has, or claims to have, or which Executive at any time heretofore had, or claimed to have, or which Executive at any time hereafter may have, own or hold, claim to have, own or hold
against any of the Executive Released Parties, including but not limited to claims which arise out of or relate to Executive’s employment by the Company. This release expressly waives any and all claims Executive may now have against the
Company regardless of the nature, source, or basis for any such claim, including but not limited to claims for wages, salary, bonuses, commissions, or any other monies owed by the Company to Executive. This release however does not waive
Executive’s rights to unemployment. This release is intended by the parties to be mutual. Thus, Executive Released Parties likewise hereby irrevocably and unconditionally release, acquit, and forever discharge Executive from any and all
charges, complaints, claims, liabilities, obligations, promises, agreements, controversies, damages, actions, causes of action, suits, rights, demands, costs, losses, debts and expenses (including attorneys’ fees and costs actually incurred) of
any nature whatsoever, known or unknown, suspected or unsuspected, including, but not limited to, any of the rights, torts or statutes listed above, which Executive Released Parties now have, or claim to have, or which Executive Released Parties at
any time heretofore have, or claim to have, or which Executive Released Parties at any time hereafter may have, own or hold, claim to have, own or hold against Executive, including but not limited to claims which arise out of or relate to business
conducted by Executive during his employment by the Company. This release expressly waives any and all claims Executive Released Parties may now have against Executive regardless of the nature, source, or basis for any such claim. The Company agrees
that it will not oppose Executive’s claim for unemployment benefits. 
 Nothing in this Agreement shall supersede, invalidate or otherwise
undermine the terms of the Directors and Officers Insurance policy, or any other insurance policy of Company, its applicability to Executive, and Executive’s entitlement to be defended and indemnified from any claim covered by such policies.

  
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 6. Executive hereby agrees that Executive may have had access to confidential or proprietary
information relating to the Company, including but not limited to customer lists, business strategies and plans, computer programs and other computer-stored data, accounts payable data, payroll information, personnel information, pricing and other
contract terms. Executive acknowledges that this information is confidential or proprietary and Executive agrees not to disclose it, nor allow it to be disclosed, communicated or otherwise conveyed to any third parties except as may be required by
law. Executive further agrees to immediately inform the Company in writing of any known unauthorized disclosure of, or access to, the Company’s confidential or proprietary information described above. Executive hereby agrees that the disclosure
of the Company’s confidential or proprietary information shall cause serious damage to the Company. The foregoing shall supplement any existing confidentiality agreement, if any, between the parties hereto and shall survive the full payment of
all sums paid hereunder. 
 7. Executive acknowledges and agrees that Executive has no pending lawsuit, administrative charge,
or complaint against the Company or any of the other Executive Released Parties, in any court or with any governmental agency. Executive also agrees that, to the extent permitted by law, Executive will not allow any lawsuit, administrative charge,
or complaint to be pursued on Executive’s behalf. Executive further agrees that Executive will not participate, cooperate, or assist in any litigation against the Executive Released Parties in any manner, to the extent permitted by law. If
lawfully subpoenaed by a court of this jurisdiction, Executive agrees to provide the Company written notice of such a subpoena within five (5) days of receipt. 
 8. It is understood and agreed that this is a full, complete and final general release of any and all claims described as aforesaid, and that Executive agrees that it shall apply to all unknown,
unanticipated, unsuspected and undisclosed claims, demands, liabilities, actions or causes of action, in law, equity or otherwise, as well as those which are now known, anticipated, suspected or disclosed. This release includes a release under
§ 1542 of the Civil Code of the State of California, which reads as follows: 
 A general release does not extend to
claims which the creditor does not know or suspect to exist in his or her favor at the time executing the release, which, if known by him or her must have materially affected his or her settlement with the debtor. 

Executive hereby expressly waives and relinquishes all rights and benefits under that section and any law or legal principle of similar effect in any
jurisdiction with respect to the release granted in this Agreement. 
 9. This Agreement is intended to release and discharge
any claims of Executive under the Age Discrimination and Employment Act. To satisfy the requirements of the Older Workers’ Benefit Protection Act, 29 U.S.C. section 626(f), the parties agree as follows: 

 

	 	A.	Executive acknowledges that Executive has read and understands the terms of this Agreement. 

 

	 	B.	Executive acknowledges that Executive has been advised to consult with an attorney, if desired, concerning this Agreement and has received all advice Executive deems
necessary concerning this Agreement. 

  

	 	C.	Executive acknowledges that Executive has been given twenty one (21) days from April 5, 2012 to consider whether or not to enter into this Agreement, has taken
as much of this time as necessary to consider whether to enter into this Agreement, and has chosen to enter into this Agreement freely, knowingly, and voluntarily. 

  
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	 	D.	For a seven day period following the execution of this Agreement, Executive may revoke this Agreement by delivering a written notice of revocation within that time to
Robert Stefanovich, if he so chooses. This Agreement shall not become effective until the 7 days have passed without a revocation being received. This Agreement will be revoked in its entirety if such notice is given, and the Company will have no
obligation to take any of the actions and/or make any payment provided by this Agreement. 

 10. It is understood
and agreed that this Agreement is not an admission of liability and shall not be used or construed as such in any proceeding. 

11. This Agreement shall be construed under the laws of the State of California. 

12. Executive agrees to refrain from any disparagement, criticism, defamation, libel or slander of, and from making any derogatory or
untruthful statements about, any of the Executive Released Parties or the Company. Executive Released Parties likewise agree to refrain from any disparagement, criticism, defamation, libel or slander of, and from making any derogatory or untruthful
statements about Executive. 
 13. If any disagreement, controversy, claim, action, proceeding or dispute between Executive and
any Executive Released Parties, is brought to interpret or enforce the provisions of this Agreement, the prevailing party or parties shall recover his, her or its reasonable attorneys’ fees and costs. 

14. Executive 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. In the event that any provision of this Agreement is found to be
unenforceable, that provision shall be deemed deleted, and the validity and enforceability of the remaining provisions shall not be affected. 

  
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 16. This Agreement contains the entire agreement between the parties on the subjects
addressed in this Agreement and replaces any other prior agreements between the parties with the exception of Company’s confidentiality agreements. This Agreement may only be modified by a written document signed by a duly authorized officer of
the Company. 
 By signing this Agreement before the 21 day period described above in paragraph 10(C) expires, Executive
waives his right under the ADEA and the OWBPA to 21 days to consider the terms of this Agreement. In any case, however, Executive retains the right to revoke this Agreement within seven (7) days, as described above in paragraph 9(D). 

IN WITNESS WHEREOF, the parties have executed this Agreement as of the dates set forth below. 

 

					
	Dated:    04/05/2012	 		 	 /s/ Larry G. Stambaugh

		 		 	Larry G. Stambaugh “Executive”
			
	Dated:    04/05/2012	 		 	CryoPort, Inc. and CryoPort Systems, Inc. “the Company”
			
		 		 	 /s/ Robert Stefanovich

		 		 	By: Robert Stefanovich, Chief Financial Officer

  
 6 of 6Employment Agreement

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT AGREEMENT (this
“Agreement”) between Vermillion, Inc., a Delaware corporation (the “Company”), and Eric J. Schoen (“Executive,” and together with the Company, the “Parties”) is effective as of April 4, 2012 (the
“Effective Date”). 
 WHEREAS, the Company and Executive desire to enter into a Employment Agreement; 

NOW, THEREFORE, the Parties agree as follows: 
 1. Position. The Company will continue to employ Executive as its Chief Accounting Officer. In this position, Executive will be expected to devote Executive’s full business time, attention and
energies to the performance of Executive’s duties with the Company. Executive may devote time to outside Board or advisory positions as pre-approved by the Company’s Board of Directors. Executive will render such business and professional
services in the performance of such duties, consistent with Executive’s position within the Company, as shall be reasonably assigned to Executive by the Company’s CEO or Board of Directors. 

2. Compensation. The Company will pay Executive a base salary of at least $160,000 on an annualized basis, payable in accordance with the
Company’s standard payroll policies, including compliance with applicable tax withholding requirements. In addition, Executive will be eligible for a bonus of up to 30% of Executive’s base salary for achievement of reasonable
performance-related goals to be defined by the Company’s CEO or Board of Directors. The exact payment terms of a bonus, if any, are to be set by the Compensation Committee of the Board of Directors, in its sole discretion. Any such bonus will
be payable to Executive within 30 days of receipt by the Compensation Committee of the Board of Directors of the Company’s final year-end financial statements. 
 3. Benefits. During the term of Executive’s employment, Executive will be entitled to the Company’s standard benefits covering employees at Executive’s level, including the
Company’s group medical, dental, vision and term life insurance plans, section 125 plan, employee stock purchase plan and 401(k) plan, as such plans maybe in effect from time to time, subject to the Company’s right to cancel or change the
benefit plans and program it offers to its employees at any time. 
 4. At-Will Employment. Executive’s employment with the Company
is for an unspecified duration and constitutes “at will” employment. This employment relationship may be terminated at any time, with or without good cause or for any or no cause, at the option either of the Company or Executive, with or
without notice. 
 5. Termination without Cause or for Good Reason. In the event the Company terminates Executive’s employment for
reasons other than for Cause (as defined below) or Executive terminates his employment for Good Reason (as defined below) and provided that Executive signs and does not revoke a standard separation agreement release of all claims against the
Company, in a form reasonably satisfactory to the Company, does not breach any provision of 

 
this Agreement (including but not limited to Section 10 and Section 11 hereof), and continues to comply with the PIIA, as hereinafter defined, Executive shall be entitled to receive,
subject to Section 13 below: 
 (a) continued payment of Executive’s base salary as then in effect for a period of
nine (9) months following the date of termination (the “Severance Period”), to be paid periodically in accordance with the Company’s standard payroll practices, provided that you shall immediately repay to the Company any amounts
that you receive hereunder if within sixty days following termination of your employment you either have failed to execute the standard release described above or have revoked the general release after you execute it; 

(b) immediate, accelerated vesting of fifty percent (50%) of any then-unvested options previously granted by the Company to
Executive; additionally, Executive will have a twenty-four (24) month period following the date of termination of employment to exercise any or all of his vested options, subject for each option to earlier expiration at the end of the
option’s original term; and 
 (c) continuation of Company health and dental benefits through COBRA premiums paid by the
Company directly to the COBRA administrator during the Severance Period; provided, however, that such premium payments shall cease prior to the end of the Severance Period if Executive commences other employment with reasonably comparable or greater
health and dental benefits. 
 Executive will not be eligible for any bonus or other benefits not described above after
termination, except as may be required by law. 
 6. Termination After Change of Control. If Executive’s employment is terminated by
the Company for reasons other than for Cause (as defined below) or by Executive for Good Reason (as defined below) within the twelve (12) month period following a Change of Control (as defined below), then, in addition to the severance
obligations due to Executive under Section 5 above, fifty percent (50%) of any then-unvested shares under Company stock options then held by Executive will vest upon the date of such termination and the period of time for their exercise
will be at the discretion of the Company, provided that no option shall be exercisable after expiration of its original term. It may very well be necessary for the Executive to exercise such shares on the day of Change in Control, and the Company
shall use its best efforts to provide Executive with a reasonable period of advance written notice in such event. 

  
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 7. Definitions. For purposes of this Agreement: 

(a) “Cause” means termination of employment by reason of Executive’s: 

(i) material breach of this Agreement, the Proprietary Information and Inventions Agreement entered into between Executive and the
Company (the “PIIA”) or any other confidentiality, invention assignment or similar agreement with the Company; 

(ii) repeated negligence in the performance of duties or nonperformance or misperformance of such duties that in the good faith judgment
of the Board of Directors of the Company adversely affects the operations or reputation of the Company; 
 (iii) refusal to
abide by or comply with the good faith directives of the Company’s CEO or Board of Directors or the Company’s standard policies and procedures, which actions continue for a period of at least ten (10) days after written notice from
the Company; 
 (iv) violation or breach of the Company’s Code of Ethics, Financial Information Integrity Policy, Insider
Trading Compliance Program, or any other similar code or policy adopted by the Company and generally applicable to the Company’s employees, as then in effect; 
 (v) willful dishonesty, fraud, or misappropriation of funds or property with respect to the business or affairs of the Company; 
 (vi) conviction by or entry of a plea of guilty or nolo contendere, in a court of competent and final jurisdiction, for any crime which constitutes a felony in the jurisdiction involved; or 

(vii) abuse of alcohol or drugs (legal or illegal) that, in the Board of Director’s reasonable judgment, materially impairs
Executive’s ability to perform Executive’s duties. 
 (b) “Change of Control” means: 

(i) after the date hereof, any “person.” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of
1934, as amended (the “Exchange Act”)) becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 50% or more of the total voting power
represented by the Company’s then outstanding voting securities; or 
 (ii) the date of the consummation of a merger or
consolidation of the Company with any other corporation or entity that has been approved by the stockholders of the Company, other than a merger or consolidation that would result in the voting securities of the Company outstanding immediately prior
thereto continuing to represent more than fifty percent 

  
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(50%) of the total voting power represented by the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation; or 

(iii) the date of the consummation of the sale or disposition of all or substantially all of the Company’s assets. 

(c) “Good Reason” means, the occurrence of any one or more of the following events, without Executive’s consent,
which continues uncured for a period of not less than thirty (30) days following written notice given by Executive to the Company within thirty (30) days following the occurrence of a material and adverse change in Executive’s title
or duties (excluding any changes in such duties resulting from the Company becoming part of a larger entity pursuant to a Change of Control) or in Executive’s base salary. 

In addition, Executive must actually terminate Executive’s employment with the Company within six months following the initial
existence of the condition described above giving rise to Good Reason. 
 (d) “Separation from Service” or
“Separates from Service” shall mean Executive’s termination of employment, as determined in accordance with Treas. Reg. § 1.409A-1(h). Executive shall be considered to have experienced a termination of employment when the
facts and circumstances indicate that Executive and the Company reasonably anticipate that either (i) no further services will be performed for the Company after a certain date, or (ii) that the level of bona fide services Executive will
perform for the Company after such date (whether as an employee or as an independent contractor) will permanently decrease to no more than 20% of the average level of bona fide services performed by Executive (whether as an employee or independent
contractor) over the immediately preceding 36-month period (or the full period of services to the Company if Executive has been providing services to the Company for less than 36 months). If Executive is on military leave, sick leave, or other bona
fide leave of absence, the employment relationship between Executive and the Company shall be treated as continuing intact, provided that the period of such leave does not exceed six months, or if longer, so long as Executive retains a right to
reemployment with the Company under an applicable statute or by contract. If the period of a military leave, sick leave, or other bona fide leave of absence exceeds six months and Executive does not retain a right to reemployment under an applicable
statute or by contract, the employment relationship shall be considered to be terminated for purposes of this Agreement as of the first day immediately following the end of such six-month period. In applying the provisions of this paragraph, a leave
of absence shall be considered a bona fide leave of absence only if there is a reasonable expectation that Executive will return to perform services for the Company. 
 8. Employment, Confidential Information and Invention Assignment Agreement. As a condition of Executive’s employment, Executive shall complete, sign and return the Company’s standard form
of Proprietary Information and Inventions Agreement. 

  
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 9. Non Contravention. Executive represents to the Company that Executive’s signing of this
Agreement, the PIIA, the issuance of stock options to Executive, and Executive’s commencement of employment with the Company does not violate any agreement Executive has with Executive’s previous employer and Executive’s signature
confirms this representation. 
 10. Conflicting Employment. Executive agrees that, during the term of Executive’s employment with
the Company and during the Severance Period, Executive will not engage in any other employment, occupation, consulting or other business activity competitive with or directly related to the business in which the Company is now involved or becomes
involved during the term of Executive’s employment, nor will Executive engage in any other activities that conflict with Executive’s obligations to the Company. Executive acknowledges that compliance with the obligations of this paragraph
is a condition to Executive’s right to receive the severance payments set forth in paragraph 5 above. 
 11. Nonsolicitation. From
the date of this Agreement until 12 months after the termination of this Agreement (the “Restricted Period”), Executive will not, directly or indirectly, solicit or encourage any employee or contractor of the Company or its affiliates to
terminate employment with, or cease providing services to, the Company or its affiliates. During the Restricted Period, Executive will not, whether for Executive’s own account or for the account of any other person, firm, corporation or other
business organization, solicit or interfere with any person who is or during the period of Executive’s engagement by the Company was a collaborator, partner, licensor, licensee, vendor, supplier, customer or client of the Company or its
affiliates to the Company’s detriment. Executive acknowledges that compliance with the obligations of this paragraph is a condition to Executive’s right to receive the severance payments set forth in paragraph 5 above. 

12. Arbitration and Equitable Relief. 
 (a) In consideration of Executive’s employment with the Company, its promise to arbitrate all employment related disputes and Executive’s receipt of the compensation and other benefits paid to
Executive by the Company, at present and in the future, EXECUTIVE AGREES THAT ANY AND ALL CONTROVERSIES, CLAIMS, OR DISPUTES WITH ANYONE (INCLUDING THE COMPANY AND ANY EMPLOYEE, OFFICER, DIRECTOR, STOCKHOLDER OR. BENEFIT PLAN OF THE COMPANY IN THEIR
CAPACITY AS SUCH OR OTHERWISE) ARISING OUT OF, RELATING TO, OR RESULTING FROM EXECUTIVE’S EMPLOYMENT WITH THE COMPANY OR THE TERMINATION OF EXECUTIVE’S EMPLOYMENT WITH THE COMPANY, INCLUDING ANY BREACH OF THIS AGREEMENT, SHALL BE SUBJECT
TO BINDING ARBITRATION UNDER THE ARBITRATION RULES SET FORTH IN TEXAS CIVIL PRACTICE AND REMEDY CODE SECTION 171.001 THROUGH SECTION 171.098 (THE “RULES”) AND PURSUANT TO TEXAS LAW. Disputes which Executive agrees to arbitrate, and thereby
agree to waive any right to a trial by jury, include any statutory claims under state or federal law, including, but not limited to, claims under Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act of 1990, the Age
Discrimination in Employment Act of 1967, the Older Workers 

  
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Benefit Protection Act, the California Fair Employment and Housing Act, the California Labor Code, claims of harassment, discrimination or wrongful termination and any statutory claims. Executive
further understands that this agreement to arbitrate also applies to any disputes that the Company may have with Executive, 

(b) Executive agrees that any arbitration will be administered by the American Arbitration Association (“AAA”) and that the
neutral arbitrator will be selected in a manner consistent with its National Rules for the Resolution of Employment Disputes. Executive agrees that the arbitrator shall have the power to decide any motions brought by any party to the arbitration,
including motions for summary judgment and/or adjudication and motions to dismiss and demurrers, prior to any arbitration hearing. Executive also agrees that the arbitrator shall have the power to award any remedies, including attorneys’ fees
and costs, available under applicable law. Executive understands the Company will pay for any administrative or hearing fees charged by the arbitrator or AAA except that Executive shall pay the first $125.00 of any filing fees associated with any
arbitration Executive initiates. Executive agrees that the arbitrator shall administer and conduct any arbitration in a mariner consistent with the Rules and that to the extent that the AAA’s National Rules for the Resolution of Employment
Disputes conflict with the Rules, the Rules shall take precedence. Executive agrees that the decision of the arbitrator shall be in writing. 
 (c) Except as provided by the Rules and this Agreement, arbitration shall be the sole, exclusive and final remedy for any dispute between Executive and the Company. Accordingly, except as provided for by
the Rules and this Agreement, neither Executive nor the Company will be permitted to pursue court action regarding claims that are subject to arbitration. Notwithstanding, the arbitrator will not have the authority to disregard or refuse to enforce
any lawful company policy, and the arbitrator shall not order or require the Company to adopt a policy not otherwise required by law which the Company has not adopted. 
 (d) In addition to the right under the Rules to petition the court for provisional relief, Executive agrees that any party may also petition the court for injunctive relief where either party alleges or
claims a violation of the PIIA between Executive and the Company or any other agreement regarding trade secrets, confidential information, nonsolicitation or Labor Code §2870. Executive understands that any breach or threatened breach of such
an agreement will cause irreparable injury and that money damages will not provide an adequate remedy therefor and both parties hereby consent to the issuance of an injunction. In the event either party seeks injunctive relief, the prevailing party
shall be entitled to recover reasonable costs and attorneys fees. 
 (e) Executive understands that this Agreement does not
prohibit Executive from pursuing an administrative claim with a local, state or federal administrative body such as the Department of Fair Employment and Housing, the Equal Employment Opportunity Commission or the Workers’ Compensation Board.
This Agreement does, however, preclude Executive from pursuing court action regarding any such claim. 

  
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 (f) Executive acknowledges and agrees that Executive is executing this Agreement voluntarily
and without any duress or undue influence by the Company or anyone else. Executive further acknowledges and agrees that Executive has carefully read this Agreement and that Executive has asked any questions needed for Executive to understand the
terms, consequences and binding effect of this Agreement and fully understand it, including that Executive is waiving Executive’s right to a jury trial. Finally, Executive agrees that Executive has been provided an opportunity to seek the
advice of an attorney of Executive’s choice before signing this Agreement. 
 13. Taxes. All payments made pursuant to this
Agreement will be subject to withholding of applicable taxes. Notwithstanding the foregoing, Executive is solely responsible and liable for the satisfaction of any federal, state, province or local taxes that may arise with respect to this Agreement
(including any taxes arising under Section 409A of the Internal Revenue Code (the “IRC”). Neither the Company nor any of its employees, officers, directors, or service providers shall have any obligation whatsoever to pay such taxes,
to prevent Executive from incurring them, or to mitigate or protect Executive from any such tax liabilities. Notwithstanding anything in this Agreement to the contrary, if any amounts that become due under this Agreement on account of
Executive’s termination of employment constitute “nonqualified deferred compensation” within the meaning of IRC Section 409A, payment of such amounts shall not commence until Executive incurs a Separation from Service. If, at the
time of Executive’s termination of employment under this Agreement, Executive is a “specified employee” (within the meaning of IRC Section 409A), any amounts that constitute “nonqualified deferred compensation” within
the meaning of IRC Section 409A that become payable to Executive on account of Executive’s Separation from Service (including any amounts payable pursuant to the preceding sentence) will not be paid until after the end of the sixth
calendar month beginning after Executive’s Separation from Service (the “409A Suspension Period”). Within 14 calendar days after the end of the 409A Suspension Period, Executive shall be paid a lump sum payment in cash equal to any
payments delayed because of the preceding sentence. Thereafter, Executive shall receive any remaining benefits as if there had not been an earlier delay. Each payment due under this Agreement is treated as a separate payment for purposes of Treasury
Regulations Sections 1.409A-1((b)(4)(F) and 1.409A-2(b)(2). 
 14. Successors of the Company. The rights and obligations of the Company
under this Agreement shall inure to the benefit of, and shall be binding upon, the successors and assigns of the Company. This Agreement shall be assignable by the Company in the event of a merger or similar transaction in which the Company is not
the surviving entity, or of a sale of all or substantially all of the Company’s assets. 
 15. Enforceability; Severability. If any
provision of this Agreement shall be invalid or unenforceable, in whole or in part, such provision shall be deemed to be modified or restricted to the extent and in the manner necessary to render the same valid and enforceable, or shall be deemed
excised from this Agreement, as the case may require, and this Agreement shall be construed and enforced to the maximum extent permitted by law as if such provision had been 

  
 7 

 
originally incorporated herein as so modified or restricted, or as if such provision had not been originally incorporated herein, as the case may be. 

16. Governing Law. This Agreement shall be construed and enforced in accordance with the laws of the State of Texas without giving effect to Texas
choice of law rules. This Agreement is deemed to be entered into entirely in the State of Texas. This Agreement shall not be strictly construed for or against either party. 
 17. No Waiver. No waiver of any term of this Agreement constitutes a waiver of any other term of this Agreement. 
 18. Amendment To This Agreement. This Agreement may be amended only in writing by an agreement specifically referencing this Agreement, which is signed by both Executive and an executive officer or
member of the Board of Directors of the Company authorized to do so by the Board by resolution. 
 19. Headings. Section headings in this
Agreement are for convenience only and shall be given no effect in the construction or interpretation of this Agreement. 
 20. Notice.
All notices made pursuant to this Agreement, shall be given in writing, delivered by a generally recognized overnight express delivery service, and shall be made to the following addresses, or such other addresses as the Parties may later designate
in writing: 
 If to the Company: 
 Vermillion, Inc. 
 12117 Bee Caves Road, Building Three, Suite 100 

Austin, Texas, 78738 
 If to Executive: 
 [Redacted] 

21. Expense Reimbursement. The Company shall promptly reimburse Executive reasonable business expenses incurred by Executive in furtherance of or
in connection with the performance of Executive’s duties hereunder, including expenditures for travel, in accordance with the Company’s expense reimbursement policy as in effect from time to time; provided that any and all reimbursements
hereunder shall be requested and made within one year after being incurred. 
 22. General; Conflict. This Agreement and the PIIA, when
signed by Executive, set forth the terms of Executive’s employment with the Company and supersede any and all prior representations and agreements, whether written or oral. 

[Signature Page Follows] 

  
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	VERMILLION, INC.
	a Delaware corporation
		
	By:	 	 /s/ Gail S. Page

	Name:	 	Gail S. Page
	Title:	 	Chief Executive Officer

  

	
	ACCEPTED AND AGREED TO this
	4th day of April, 2012.
	
	 /s/ Eric J. Schoen

	Eric J. Schoen

  
 9

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