Document:

Exhibit 10.2

EMPLOYMENT AGREEMENT

This Employment Agreement (this “Agreement”)
is entered into as of August 29, 2006 (the “Effective Date”), by and between Teragenix Corporation, a Florida
corporation (the “Company”), and Valentin Adia (“Executive”) (together, the “Parties”).

INTRODUCTION

WHEREAS, the shareholders of the Company and HemaCare
Corporation, a California corporation (“HemaCare”) are entering into that certain Stock Purchase Agreement of
even date herewith (the “Stock Purchase Agreement”);

WHEREAS, it is a condition to the consummation
of the transactions contemplated by the Stock Purchase Agreement that the Company and Executive enter into this Agreement; and

WHEREAS, the Company desires to employ Executive
as of the Effective Date and Executive desires to accept employment with the Company on the terms and conditions set forth below.

NOW, THEREFORE, in consideration of the foregoing
recital and the respective covenants and agreements of the Parties contained in this document, the Company and Executive agree
as follows:

1.Employment.

(a)Title; Duties.  During the Term,
Executive will serve as Vice President, Business Development of the Company, and will report directly to the Company’s Division
President (the “Company President”).  Executive shall have such duties consistent with that of a Vice President,
Business Development that may from time to time be designated or assigned to Executive pursuant to the directives of the Company
President.  Executive shall perform faithfully the duties assigned to him to the best of his ability.

(b)Other Activities.  During the
Term, Executive shall devote his entire productive business time and attention to his duties on the Company’s behalf except
for sick leave, vacations and approved leaves of absence; provided, however, that nothing in this Agreement shall
prohibit Executive from (i) serving as a director of any entity or business enterprise which is not in direct competition with
the business of the Company or any present or future affiliate of the Company and which does not create a real or perceived conflict
of interest, (ii) otherwise participating in educational, welfare, social, religious and civic organizations or (iii) making any
investments (other than “passive investments,” as defined below) in the securities of any entity or business enterprise
which is not in direct competition with the business of the Company or any present or future affiliate of the Company and which
does not create a real or perceived conflict of interest; provided, that Executive obtains the prior approval of HemaCare’s
President and Chief Executive Officer (“CEO”) with respect to any position described 

    
	 

 

in clause (i) of this Section
1(b) and any investment (other than any “passive investments”) described in clause (iii) of this Section 1(b),
which approval shall not be unreasonably withheld, delayed or conditioned.  An investment shall be considered a “passive
investment” to the extent that such securities (x) are actively traded on a United States national securities exchange, on
the NASDAQ National Market System or Small Cap Market System, on the OTC Bulletin Board, or on any foreign securities exchange,
and (y) represent, at the time such investment is made, less than five percent (5%) of the aggregate voting power of such entity
or business enterprise.

2.Employment Term.  Subject to
Section 9, Executive’s employment hereunder shall be for a term of thirty-six (36) months commencing on the Effective
Date and expiring at the close of business on the day prior to the thirty-six (36) month anniversary of the Effective Date (the
“Term”).  This Agreement shall automatically renew for successive one (1) year periods following the initial
Term and any extensions thereof, if applicable, unless either party provides written notice to the other party not less than ninety
(90) days prior to the end of the then-existing Term, that such party does not desire the Term to automatically renew, in which
event this Agreement shall terminate as of the last day of the then-existing Term.

3.Place of Employment.  Executive’s
services shall be performed at the Company’s principal executive offices located at 5440 NW 33rd Avenue, Suite 108,
Ft. Lauderdale, Florida  33309 or such other place as the Company and Executive shall mutually agree.

4.Salary.  For all services rendered
by Executive hereunder and all covenants and conditions undertaken by him pursuant to this Agreement, the Company shall pay, and
Executive shall accept, as full compensation, the amounts set forth in this Section 4.

a.Base Salary.  For all services
to be rendered by Executive pursuant to this Agreement, the Company agrees to pay Executive a base salary (the “Base Salary”)
of One Hundred and Twenty-Five Thousand Dollars ($125,000.00) on an annualized basis.  The Base Salary shall be paid in accordance
with the Company’s regular payroll practices.  All amounts payable shall be reduced by standard withholding and other
authorized deductions.  The Company, in its sole discretion, may increase (but not decrease) the Base Salary from time to
time, provided, however, that commencing January 1, 2008, the Base Salary shall increase at a minimum level of 3%
per annum during each year of the Term.

b.Bonus.  Executive shall be eligible
for a bonus of up to 16% of the Base Salary (the “Bonus”), starting in calendar year 2007, upon the achievement
of specific goals and objectives, as determined in the sole discretion of HemaCare’s President and CEO and the Company President. 
The Bonus structure will put 100% of Executive’s Bonus potential at risk each year.  Executive must be employed by the
Company at the time of payment to be eligible to receive any Bonus.

c.Car Allowance.  During the Term,
Executive shall receive a car allowance equal to $1,250 per month.

d.Life Insurance.  The Company
agrees to pay a whole life insurance policy for the Employee with a face amount equal to one times Executive’s salary.

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e.Deductions.  The Company shall
deduct from the compensation described in Sections 4(a) and 4(b) any federal, state or local withholding taxes, social security
contributions and any other amounts which may be required to be deducted or withheld by the Company pursuant to any federal, state
or local laws, rules or regulations.

f. Disability Adjustment.  Any
compensation otherwise payable to Executive pursuant to Sections 4(a) and 4(b) in respect of any period during which Executive
is Disabled (as defined in Section 9(d)) shall be reduced by any amounts payable to Executive for loss of earnings or the
like under any insurance plan or policy sponsored by the Company.

5.Expenses.  The Company shall
from time to time pay or reimburse Executive for the reasonable and necessary expenses incurred by Executive in connection with
the performance of his duties hereunder if (a) such expenses have been previously approved by the Company or reimbursement is otherwise
appropriate in accordance with the Company’s established policies and (b) the Company receives such verification thereof
as the Company may require in order to qualify such expenses as deductible business expenses.

6.Other Benefits.  In addition
to his compensation provided by the foregoing, so long as Executive is employed by the Company, Executive shall be entitled to
all of the benefits available (a) generally to Company employees pursuant to Company programs, and/or (b) to senior level
executives at the Company, including, by way of illustration, personal leave, paid holidays, sick leave, profit-sharing, retirement,
disability, dental, vision, group sickness, accident or health insurance programs or equity incentive plans of the Company which
may now or hereafter be in effect, or in any other or additional such programs which may be established by the Company, as and
to the extent any such programs are or may from time to time be in effect, as determined by the Company.  The Company shall
implement and maintain a health and medical plan as soon as is reasonably practical after the execution of this Agreement and maintain
such plan throughout the Term.  The Company shall have the right to amend, reduce or completely terminate any or all such
plans by duly authorized action respecting all employees covered by such plans as a group.

7.Vacations and Holidays.  During
each calendar year, Executive shall accrue compensated personal time off (“PTO”) at the rate of twenty-nine
(29) days per year.  If Executive’s earned but unused PTO reaches forty-eight (48) days, Executive will not continue
to accrue additional PTO time until he uses sufficient PTO to fall below this maximum amount.  Thereafter, Executive shall
start earning PTO benefits again until the forty-eight (48) day maximum is again reached.  Any accrued but unused PTO time
will be paid to Executive on a pro rata basis at termination of employment for any reason.  Executive shall not be compensated
for holidays (other than as part of the PTO system).

8.Other Activities.  Executive
shall, during the term of his employment by the Company, devote all of his working time and efforts to the business and affairs
of the Company and its subsidiaries and to the diligent and faithful performance of the duties assigned to him pursuant to this
Agreement.

9.Termination.  The Company may
terminate Executive’s employment for any reason or no reason, with or without Cause (as defined below), with the consequences
described in Section 10 of this Agreement.  Executive may terminate his employment with Good Reason (as defined below)
by giving the Company thirty (30) days’ advance written notice.  Upon termination of Executive’s employment
with the Company, Executive’s rights under any applicable benefit plans shall be determined under the provisions of those
plans.

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a. Death.  Executive’s
employment shall terminate immediately in the event of his death.

b.Cause.  Subject to Executive’s
failure to cure a breach in the manner and time described below, the Company may terminate Executive’s employment for Cause
immediately. As used in this Agreement, the term “for Cause” shall be limited to a termination for the following acts
by Executive:  (i) misappropriation or embezzlement of the funds or property of the Company or any subsidiary, falsification
of any Company or subsidiary documents or records or any unauthorized attempt by the Executive to take any business or business
opportunities of the Company or any subsidiary for his or her own personal gain; (ii) Executive’s failure or inability to
perform any material duties contemplated by this Agreement for a period of thirty (30) days, except in the event that the Executive
is determined to have a Disability (as defined in Section 9(d)) or in the event of Executive’s death; (iii) grossly
negligent, reckless or willful misconduct or insubordination in connection with Executive’s performance of his duties; (iv) any
material breach by Executive of any agreement (including this Agreement or the Confidentiality Agreement (as defined in Section
11)) between Executive and the Company; (v) Executive’s conviction (including any plea of guilty or nolo contendere)
of any felony, any misdemeanor involving dishonesty or fraud, or any other criminal act that impairs or could impair Executive’s
ability to perform his or her duties; (vi) the Executive’s material violation of Company policies, including, without
limitation, policies on prohibition of unlawful harassment or (vii) any illegal drug or illegal substance abuse, illegal drug or
illegal substance addiction, or chronic addiction to alcohol on the part of Executive, other than any use of medication prescribed
by a doctor.  The determination of Cause shall be made by HemaCare’s President and CEO in her reasonable discretion. 
Anything herein to the contrary notwithstanding, as to any termination based upon clause (iii) above, the Company shall give
the Executive written notice prior to terminating this Agreement of the Executive’s employment, setting forth a general description
of the grounds for termination and the conduct required to cure such grounds for termination.  The Executive shall have thirty (30)
days from the receipt of such notice within which to cure any such grounds for termination to the satisfaction of the Company,
which shall be determined by the Company in its reasonable discretion.

c.Termination by Executive for “Good
Reason”.  Subject to the provisions outlined below, at any time after the date Executive commences employment under
this Agreement, upon thirty (30) days’ advance written notice to the Company of his intent to terminate the Agreement,
Executive shall have the right to terminate his employment under this Agreement for “Good Reason”.  For purposes
of this Agreement, “Good Reason” is defined as any one of the following:  (i) the Company fails to comply
with the provisions hereof governing compensation and benefits to Executive, (ii) the Company moves the Company’s office
location in violation of Section 3, (iii) the Company fails to maintain Executive in the position of Division President (or a comparable
position) described in Section 1 or materially diminishes his duties or responsibilities in such positions, (iv) the Company materially
breaches any other provision of this Agreement or any other written agreement with Executive, or (v) conduct by the Company
occurs that would cause Executive to commit fraudulent acts or would expose Executive to criminal liability; provided, however,
that it shall not constitute Good Reason unless Executive shall have provided the Company with written notice of its alleged actions
constituting Good Reason (which notice shall specify in reasonable detail the particulars of such Good Reason) and the Company
has not cured any such alleged Good Reason within thirty (30) days of the Company’s receipt of such written notice.

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d.Disability.  The Company may
terminate Executive’s employment for Disability by giving Executive three (3) days’ advance written notice. 
For all purposes under this Agreement, “Disability” shall mean that Executive, at the time such notice is given, has
been unable to substantially perform his duties under this Agreement for a period of not less than three (3) consecutive months
(or after four (4) months in the aggregate during a twelve-month period, whether consecutive or not) as the result of his
incapacity due to physical or mental illness.  A determination of Disability shall be made by the Board in consultation with
a physician reasonably satisfactory to Executive (or his representative) and the Company, and Executive shall cooperate with the
efforts to make such determination. Any such determination shall be conclusive and binding on the Parties for the purposes of this
Agreement.

10. Termination Benefits.  Upon
the termination of Executive’s employment, Executive shall be entitled to receive:

a.  Death or Disability. 
Executive shall be entitled to the following:

(i)Payment of any Base Salary accrued but
unpaid as of the date of death or termination for Disability;

(ii)Payments in accordance with any disability
insurance policy maintained by the Company and payment of Base Salary to the extent required to ensure that Executive receives
the full amount of Base Salary through the combined payments under disability insurance (whether pursuant to a disability insurance
policy provided by the Company, or pursuant to state disability benefits) and salary payments from the Company, for the remainder
of the Term;

(iii)Reimbursement for any unpaid expenses
incurred in accordance with Section 5; and

(iv)Payment of any and all earnouts, or other
consideration amounts that the Company is obligated to pay pursuant to the Stock Purchase Agreement (but only if actually earned,
and such amounts shall be paid on the date(s) provided in the Stock Purchase Agreement), and any bonuses earned as of the date
of termination pursuant to Section 4(b) of this Agreement.

b.Termination for Cause.  Executive
shall be entitled to receive on the date of termination any accrued but unpaid salary and shall be reimbursed for any reimbursable
expenses pursuant to Section 5 that have not been reimbursed prior to such termination.

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c.Termination by Company Other than for
Cause.  In the event the Company terminates Executive’s employment other than for Cause, Executive shall be entitled
to the following:

 (i) Payment of any Base Salary accrued but
unpaid as of the date of termination;

(ii) An amount equal to Executive’s
monthly Base Salary in effect on the date of termination for a period equal to the greater of the remainder of the Term or twelve
(12) months;

(iii)The Company will pay to continue Executive’s
health insurance coverage (i.e., make COBRA payments) following the date of termination other than for Cause until the earlier
of (A) the greater of (1) the remainder of the Term or (2) twelve (12) months, and (B) until Executive obtains full-time employment,
provided that such coverage remains available with respect to Executive; and

(iv) Payment of any and all earnouts, or
other consideration amounts payable by the Company pursuant to the Stock Purchase Agreement, whether earned or unearned, within
thirty (30) days of the date of termination, and any bonuses earned as of the date of termination pursuant to Section 4(b) of this
Agreement.

d.Termination by Executive for “Good
Reason”.  A termination for Good Reason shall have the same consequences as provided in Section 10(c) for a
termination other than for Cause.

e.Voluntary Termination by Executive. 
A termination of employment by Executive on his own initiative, other than a termination due to death or Disability or for Good
Reason, shall have the same consequences as provided in Section 10(b) for a termination for Cause.

f. Other Benefits.  Except as expressly
set forth herein or pursuant to the terms of the Company’s written employee benefit plans and policies in effect at the time
of such termination, Executive shall not be entitled to any pay or benefits upon his termination.

11. Proprietary Information and Inventions
Agreement.  Executive has signed a Proprietary Information and Inventions Agreement (the “Confidentiality Agreement”)
substantially in the form attached hereto as Exhibit A.  Executive hereby represents and warrants to the Company
that he has complied with all of the obligations under the Confidentiality Agreement and agrees to continue to abide by the terms
of the Confidentiality Agreement and further agrees that the provisions of the Confidentiality Agreement shall survive any termination
of this Agreement and/or Executive’s employment relationship with the Company.

12. Indemnification.  During
the Term, the Company shall indemnify Executive and hold Executive harmless from and against all claims, actions, suits, proceedings,
liabilities, damages, fines, costs and expenses (including, without limitation, reasonable attorneys’ fees and expenses)
(collectively, “Losses”) which may be incurred by Executive in connection with the performance of his duties
hereunder, to the fullest extent permitted by applicable law and to the same extent provided to any other senior executive officer
of the Company, except with respect to any Losses suffered by Executive in connection with the transactions contemplated by the
Stock Purchase Agreement.  Expenses advanced to Executive under this Section 12 shall be repaid by Executive on demand
if and to the extent such advanced expenses are found not to be lawfully indemnifiable by a competent tribunal.

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13. Exclusive Agreement.  Executive
represents and warrants that his employment by the Company as described herein does not and shall not conflict with and is not
and will not be constrained by any prior employment or consulting agreement, arrangement or relationship, whether written or oral. 
Executive agrees not to make any unauthorized disclosure or use, on behalf of the Company, of any confidential information belonging
to any of Executive’s former employers.  Executive represents that he is not in unauthorized possession or control of
any materials containing confidential and proprietary or private information of a third party.

14. Assignment.  This Agreement
and all rights under this Agreement shall be binding upon and inure to the benefit of and be enforceable by the Parties hereto
and their respective personal or legal representatives, executors, administrators, heirs, distributees, devisees, legatees, successors
and assigns.  Neither this Agreement nor any right or obligation of Executive under this Agreement may be assigned or transferred
by Executive to any other person or entity without the prior written consent of the Company.  The Company may assign this
Agreement; provided, however, that such assignment will not relieve the Company of its obligations hereunder.

15. Notices.  For purposes of
this Agreement, notices and other communications provided for in this Agreement shall be in writing and shall be delivered personally
or sent by United States certified mail, return receipt requested, postage prepaid, addressed as follows:

	If to Executive:	Valentin Adia
	 	10752 Oak Lake Way
	 	Boca Raton, FL 33498
	 	Facsimile No.: 561-482-3757
	 	 
	If to the Company:	c/o Judi Irving
	 	HemaCare Corporation
	 	21101 Oxnard Street
	 	Woodland Hills, CA 91367

 

or to such other address or the attention of such other person as
the recipient party has previously furnished to the other party in writing in accordance with this Section 15.  Such notices
or other communications shall be effective upon the earlier of delivery or three days after they have been mailed as provided above.

16. Integration.  This Agreement,
and Exhibit A hereto, represent the entire agreement and understanding between the Parties as to the subject matter
hereof and supersede all prior or contemporaneous agreements whether written or oral.  No waiver, alteration, or modification
of any of the provisions of this Agreement shall be binding unless in writing and signed by duly authorized representatives of
the Parties hereto.

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17. Waiver.  Failure or delay
on the part of either Party hereto to enforce any right, power, or privilege hereunder shall not be deemed to constitute a waiver
thereof.  Additionally, a waiver by either Party of a breach of any promise hereof by the other Party shall not operate as
or be construed to constitute a waiver of any subsequent breach by such other Party.

18. Severability.  Whenever possible,
each provision of this Agreement will be interpreted in such manner as to be effective and valid under applicable law, but if any
provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in
any jurisdiction, such invalidity, illegality or unenforceability will not affect any other provision or any other jurisdiction,
but this Agreement will be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision
had never been contained herein.

19. Headings.  The headings of
the Sections contained in this Agreement are for reference purposes only and shall not in any way affect the meaning or interpretation
of any provision of this Agreement.

20. Applicable Law.  This Agreement
shall be governed by and construed in accordance with the internal substantive laws, and not the choice of law rules, of the State
of Florida.

21. Counterparts; Facsimile. 
This Agreement may be executed in one or more counterparts and via facsimile, none of which need contain the signature of more
than one party hereto, and each of which shall be deemed to be an original, and all of which together shall constitute a single
agreement.

22. Arbitration.

a.The Company and Executive agree that any
dispute or controversy arising out of or relating to any interpretation, construction, performance, termination or breach of this
Agreement or Executive’s employment with the Company or termination of such employment, will be settled by final and binding
arbitration by a single arbitrator to be held in Los Angeles County, California, in accordance with the National Rules for the
Resolution of Employment Disputes of the American Arbitration Association (“AAA Rules”) then in effect. 
Without limiting any other provision herein, this Section 22 shall survive the termination of Executive’s employment
with the Company and will apply to any claim, dispute, or controversy that arises during or after the termination of Executive’s
employment with the Company.  Executive and the Company agree that the agreement to arbitrate under this Section 22 is
subject to and enforceable under the provisions of the Federal Arbitration Act (the “FAA”), 9 U.S.C. § § I,
et seq.  The arbitrator selected shall have the authority to grant Executive or the Company or both all remedies
otherwise available by law, including injunctions.

b.Notwithstanding anything to the contrary
in the AAA Rules, the arbitration shall provide (i) for written discovery and depositions adequate to give the Parties access
to documents and witnesses that are essential to the dispute and (ii) for a written decision by the arbitrator that includes
the essential findings and conclusions upon which the decision is based.  Consistent with applicable law, Executive and the
Company shall each bear his or its own

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costs and attorneys’ fees incurred in conducting the arbitration
and, except in such disputes where Executive asserts a claim under a state or federal statute prohibiting discrimination in employment,
a claim for wrongful termination in violation of public policy, or a claim involving enforcement of rights under any statute enacted
for a public reason (the “Excepted Claims”), shall split equally the fees and administrative costs charged by
the arbitrator and AAA.  In disputes where Executive asserts an Excepted Claim against the Company, Executive shall be required
to pay only the AAA filing fee to the extent such filing fee does not exceed the fee to file a complaint in state or federal court
and the Company shall pay the balance of the arbitrator’s fees and administrative costs.

c.The decision of the arbitrator will be final,
conclusive and binding on the Parties to the arbitration.  The prevailing party in the arbitration, as determined by the arbitrator,
shall be entitled to recover his or its reasonable attorneys’ fees and costs, including the costs or fees charged by the
arbitrator and AAA.  In disputes where Executive asserts an Excepted Claim, reasonable attorneys’ fees shall
be awarded by the arbitrator based on the same standard as such fees would be awarded if the Excepted Claim had been asserted in
state or federal court.  Judgment may be entered on the arbitrator’s decision in any court having jurisdiction.

The parties hereby acknowledge that they have voluntarily
negotiated the terms of this Agreement, including, without limitation, this Section 22, have consulted with counsel concerning
such terms, and voluntarily agree to them.

	 	/s/ J I	 	/s/ V A	 
	 	Company’s Initials	 	Executive’s Initials	 

 

23. Advice of Counsel.  The Parties
represent and agree that they have carefully read and fully understand all of the provisions of this Agreement, and the terms and
conditions set forth herein, and that they are voluntarily entering into this Agreement.  The Parties affirm that, prior to
execution of this Agreement, they have consulted with counsel concerning the terms and conditions set forth herein or have had
the opportunity to do so.

24. Survival of Certain Terms. 
The provisions of Sections 9, 10, 11, 14 and 22 of this Agreement shall survive the termination of this Agreement; provided,
however, that the survival of such provisions after the termination of this Agreement shall in no way constitute an extension
of the Term.  Except as set forth in the prior sentence, all other rights and obligations of the Parties shall cease upon
termination of this Agreement.

[Rest of page intentionally left blank]

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IN WITNESS WHEREOF, each of the Parties has executed
this Employment Agreement, in the case of the Company by its duly authorized officer, as of the day and year first above written.

	 	TERAGENIX CORPORATION
	 	 	 
	 	 	 
	 	By:	/s/ Judi Irving	 
	 	Title:	Chief Executive Officer	 
	 	 	 
	 	 	 
	 	EXECUTIVE
	 	 	 
	 	 	 
	 	By:	/s/ Valentin Adia	 
	 	 	Valentin Adia

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EXHIBIT A

EMPLOYEE
PROPRIETARY INFORMATION

AND INVENTIONS AGREEMENT

In consideration of my employment by _____________ (the "Company")
and the compensation I receive from the Company, I agree that:

1.Proprietary
Information. I understand that the Company possesses and will possess Proprietary Information that is important to its business.
"Proprietary Information" is information (whether conveyed orally, in writing or otherwise) that was or will be developed,
created, or discovered by or on behalf of the Company, or that became or will become known by, or was or is conveyed to the Company,
that has or could have commercial value in the Company's business, unless (a) the information is or becomes publicly known through
lawful means; or (b) the information is disclosed to me without confidential or proprietary restriction by a third party who rightfully
possesses the information (without confidential or proprietary restriction) and who did not learn of it directly or indirectly
from the Company.

Proprietary Information includes, without limitation, any Company
Inventions (as defined below) and any information relating to (i) client/customer lists, vendor lists or other lists or compilations
containing client, customer or vendor information; (ii) information about products, proposed products, research, product development,
techniques, processes, costs, profits, markets, marketing plans, strategies, forecasts, sales or commissions; (iii) plans for the
future development or new product concepts; (iv) manufacturing techniques or processes, documents, books, papers, drawings, schematics,
models, sketches, computer programs, databases or other data, including electronic data recorded or retrieved by any means; (v)
the compensation, performance and terms of employment of other employees; (vi) all other information that has been or will be given
to me in confidence by the Company (or any affiliate); (vii) software in various stages of development, and any designs, drawings,
schematics, specifications, techniques, models, data, source code, algorithms, object code, documentation, diagrams, flow charts,
research development, processes and procedures relating to any software; and (viii) any information that the Company obtains from
another party that it treats as proprietary or designates as Proprietary Information.

At all times, both during my employment with the Company and after
my termination, I will not, directly or indirectly, use, make available, sell, disclose or otherwise communicate to any third party,
other than in my assigned duties for the benefit of the Company, any Proprietary Information. I am aware that the unauthorized
disclosure of Proprietary Information may be highly prejudicial to the Company's interests, an invasion of privacy, and an improper
disclosure of trade secrets. Without limiting the foregoing, I shall not make copies of, or otherwise reproduce, Proprietary Information
unless authorized by the Company for reproduction.

2.Company
Materials. "Company Materials" are documents or other media or tangible items that contain or embody Proprietary
Information or any other information concerning the business, operations or plans of the Company, whether such documents have been
prepared by me or by others. "Company Materials" include, without limitation, blueprints, drawings, photographs, charts,
graphs, notebooks, customer lists, computer software, media or printouts, sound recordings and other printed, typewritten or handwritten
documents, as well as samples, prototypes, models, products and the like.

     

     

    

 

3.Intellectual
Property.

3.1All
Proprietary Information and all right, title and interest in and to any patents, patent rights, copyrights, trademark rights, mask
work rights, trade secret rights, and all other intellectual and industrial property and proprietary rights that currently exist
or may exist in the future anywhere in the world (collectively, "Rights") in connection therewith shall be the sole property
of the Company. I hereby assign to the Company any Rights I may have or acquire in such Proprietary Information.

3.2I acknowledge
and agree that I have no expectation of privacy with respect to the Company's telecommunications, networking or information processing
systems (including, without limitation, stored company files, e-mail messages and voice messages) and that my activity and any
files or messages on or using any of those systems may be monitored at any time without notice. I further agree that any property
situated on the Company's premises and owned by the Company, including disks and other storage media, filing cabinets or other
work areas, is subject to inspection by Company personnel at any time with or without notice. All Company Materials shall be the
sole property of the Company. I agree that during my employment with the Company, I will not remove any Company Materials from
the business premises of the Company or deliver any Company Materials to any person or entity outside the Company, except as I
am required to do in connection with performing the duties of my employment. I recognize that the unauthorized taking of any Proprietary
Information may be a crime under the Cal. Penal Code §499c or comparable laws of other states or the United States, and may
also result in civil liability under Sections 3426.1 through 3426.11 of the California Civil Code, or comparable laws of other
states. I further agree that, immediately upon the termination of my employment by me or by the Company for any reason, or for
no reason, or during my employment if so requested by the Company, I will return all Company Materials, apparatus, equipment and
other physical property, or any reproduction of such property, excepting only (a) my personal copies of records relating to my
compensation; (b) my personal copies of any materials previously distributed generally to stockholders of the Company; and (c)
my copy of this Employee Proprietary Information and Inventions Agreement (the "Agreement").

3.3I agree
that all "Inventions" (which term includes patentable or non-patentable inventions, original works of authorship, derivative
works, trade secrets, trademarks, copyrights, service marks, mask works, discoveries, patents, technology, algorithms, computer
software, application programming interfaces, protocols, formulas, compositions, ideas, designs, processes, techniques, know-how,
data and all improvements, rights and claims related to the foregoing), which I have made, conceived, reduced to practice or developed,
and which I make, conceive, reduce to practice or develop (in whole or in part, either alone or jointly with others) during my
employment and in connection with the business of the Company, shall be the sole property of the Company to the maximum extent
permitted by Section 2870 of the California Labor Code. I hereby assign, without further consideration, all such Inventions ("Company
Inventions") to the Company (free and clear of all liens and encumbrances), and the Company shall be the sole owner of all
Rights in connection therewith. No assignment in this Agreement shall extend to Inventions, the assignment of which is prohibited
by Labor. Code Section 2870, which states:

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Any provision in an employment agreement which provides that
an employee shall assign, or offer to assign, any of his or her rights in an invention to his or her employer shall not apply to
an invention that the employee developed entirely on his or her own time without using the employer's equipment, supplies, facilities,
or trade secret information except for those inventions that either:

1.Relate at the time of conception
or reduction to practice of the invention to the employer's business, or actual or demonstrably anticipated research or development
of the employer.

2.Result from any work performed
by the employee for the employer.

I acknowledge that all original works of authorship which have been
made and which are made by me (in whole or in part, either alone or jointly with others) within the scope of my employment and
which are protectable by copyright are "works made for hire," as defined in the United States Copyright Act (17 USCA,
Section 101). I have not disclosed and will not disclose Inventions covered by this Section 3.3 to any person outside the
Company, unless I am requested to do so by management personnel of the Company.

3.4I have
maintained and agree to maintain adequate and current written records on the development of all Company Inventions and have disclosed
and agree to disclose promptly to the Company all Company Inventions and relevant records, which records will remain the sole property
of the Company. I further agree that all information and records pertaining to any idea, process, trademark, service mark, invention,
technology, computer program, original work or authorship, design, formula, discovery, patent, or copyright that I do not believe
to be a Company Invention, but is conceived, developed, or reduced to practice by me (in whole or in part, either alone or jointly
with others) during my employment, shall be promptly disclosed to the Company (such disclosure to be received in confidence). The
Company shall examine such information to determine if in fact the ideas, process, or invention, etc., constitutes a Company Invention
and is therefore subject to assignment under Section 3.3. I will also disclose to the Company all Inventions conceived,
reduced to practice, used, sold, exploited or developed by me (in whole or in part, either alone or jointly with others) within
one (1) year of the termination of my employment with the Company ("Presumed Inventions"); such disclosures shall
be received by the Company in confidence, to the extent they are not assigned to the Company in Section 3.3, and do not
extend such assignment. Because of the difficulty of establishing when any Presumed Invention is first conceived or developed by
me, or whether it results from access to Proprietary Information or the Company's equipment, facilities, and data, I agree that
all Presumed Inventions and all Rights associated therewith shall be presumed to be Company Inventions and therefore assignable
to the Company_ I can rebut this presumption, if I prove that a Presumed Invention is not a Company Invention.

    	3

    	 

    

 

3.5I agree
to perform, during and after my employment, all acts deemed necessary or desirable by the Company to permit and assist it, at the
Company's expense, in evidencing, perfecting, recording, obtaining, maintaining, defending and enforcing Rights and/or my assignment
with respect to such Company Inventions in any and all countries. Such acts may include, without limitation, execution of documents
and assistance or cooperation in legal proceedings. Should the Company be unable to secure my signature on any document necessary
to apply for, prosecute, obtain, enforce or defend any Rights relating to any assigned Invention, whether due to my mental or physical
incapacity or any other cause, I hereby irrevocably designate and appoint the Company and its duly authorized officers and agents,
as my agents and attorneys-in-fact, with full power of substitution, to act for and in my behalf and instead of me, to execute
and file any documents and to do all other lawfully permitted acts to further the above purposes with the same legal force and
effect as if executed by me.

3.6Any
assignment of copyright hereunder (and any ownership of a copyright as a work made for hire) includes all rights of paternity,
integrity, disclosure and withdrawal and any other rights that may be known as or referred to as "moral rights" (collectively,
"Moral Rights"). To the extent such Moral Rights cannot be assigned under applicable law and to the extent the following
is allowed by the laws in the various countries where Moral Rights exist, I hereby waive such Moral Rights and consent to any action
of the Company that would violate such Moral Rights in the absence of such waiver and consent. I will confirm any such waivers
and consents from time to time as requested by the Company.

3.7I agree
that I will not incorporate in any way, or permit to be incorporated in any way, any Inventions made, conceived, reduced to practice
or developed by me (in whole or in part, either alone or jointly with others) either: (a) prior to or (b) outside the scope of
my engagement as an independent contractor for the Company ("Prior Inventions"). Notwithstanding the foregoing, I hereby
grant the Company a royalty-free, nonexclusive, perpetual, irrevocable, transferable, worldwide license (with rights to sublicense
through multiple tiers of sublicense) to practice all Rights relating to any Prior Inventions (or other Inventions that are not
assigned or assignable to Company hereunder) that become incorporated in any way, or I permit to be incorporated in any way, in
any Company Inventions or any other Company technology or products.

3.8I understand
that nothing in this Agreement is intended to expand the scope of protection provided me by Sections 2870 through 2872 of the California
Labor Code.

4.Former
Employer Information. I agree that I will not, during my employment with the Company, improperly use or disclose any confidential
information, proprietary information or trade secrets of my former or concurrent employers. I agree that I will not bring onto
the premises of the Company any document or any property belonging to my former employers unless consented to in writing by them.
I represent and warrant that I have returned all property and confidential information belonging to all prior employers.

5.Prior
Actions and Knowledge. I represent and warrant that from the time of my first contact or communication with the Company, I
have held in strict confidence all Proprietary Information and have not and will not: (a) disclose any Proprietary Information
or deliver any Company Materials to anyone outside of the Company, or (b) use, copy, publish, or summarize any Proprietary Information
or remove any Company Materials from the business premises of the Company, except to the extent necessary and appropriate to carry
out my responsibilities as an employee of the Company, or (c) improperly use or disclose any confidential information, proprietary
information or trade secrets of my former or concurrent employers or any other third party, or (d) bring onto the premises of the
Company any document or any property belonging .to my former employers unless consented to in writing by them.

    	4

    	 

    

 

6.No
Conflict with Obligations to Third Parties. I represent that my performance of all the terms of this Agreement has not breached
and will not breach any agreement to keep in confidence proprietary or confidential information acquired by me in confidence or
in trust prior to my employment with the Company_ I have not entered into, and I agree I will not enter into, any agreement either
written or oral in conflict herewith or in conflict with my employment with the Company. The performance of this Agreement does
not and will not violate any applicable law, rule or regulation or any proprietary or other right of any third party.

7.Remedies;
Waiver. I recognize that nothing in this Agreement is intended to limit any remedy of the Company under the California Uniform
Trade Secrets Act. I recognize that my violation of this Agreement could cause the Company irreparable harm, the amount of which
may be extremely difficult to estimate, making any remedy at law or in damages inadequate. Therefore, I agree that the Company
shall have the right to apply to any court of competent jurisdiction for an order restraining any breach or threatened breach of
this Agreement and for any other relief the Company deems appropriate. This right shall be in addition to any other remedy available
to the Company. I ALSO ACKNOWLEDGE AND UNDERSTAND THAT I SHALL NOT, UNDER ANY CIRCUMSTANCE, HAVE ANY RIGHT TO SEEK OR ATTEMPT TO
SEEK ANY INJUNCTIVE RELIEF AGAINST THE COMPANY WITH RESPECT TO ANY BREACH OR THREATENED BREACH OF THIS AGREEMENT, AND I HEREBY
WAIVE ANY AND ALL SUCH RIGHTS AGAINST THE COMPANY.

8.Survival.
I agree that my obligations under Sections 1, 3, and 7 through 15 of this Agreement shall continue in effect after termination
of my employment, regardless of the reason or reasons for termination, and whether such termination is voluntary or involuntary
on my part, and that the Company is entitled to communicate my obligations under this Agreement to any future employer or potential
employer of mine.

9.Controlling
Law; Venue; Severability. I agree that the sole jurisdiction and venue for actions related to the subject matter hereof shall
be the state and federal courts located in the County of Los Angeles, California. I further agree that if one or more provisions
of this Agreement are held to be illegal or unenforceable under applicable California law, such illegal or unenforceable portion(s)
shall be limited or excluded from this Agreement to the minimum extent required so that this Agreement shall otherwise remain in
full force and effect and enforceable in accordance with its terms.

10.Successors
and Assigns. This Agreement shall be binding upon me, my heirs, executors, assigns, and administrators and shall inure to the
benefit of the Company, its subsidiaries, successors and assigns. The failure, whether purposeful or otherwise, to exercise in
any instance any right, power or privilege under this Agreement or under law shall not constitute a waiver of any other right,
power or privilege, nor of the same right, power or privilege in any other instance.

    	5

    	 

    

11.Entire
Agreement/Modification. The terms of this Agreement (including all attached Exhibits, which are incorporated herein by this
reference) are the final expression of my agreement with respect to its subject matter and may not be contradicted by evidence
of any prior or contemporaneous agreement. This Agreement can only be modified by a subsequent written agreement executed by an
officer of the Company.

12.Integration.
This Agreement supersedes all, and may not be contradicted by evidence of any, other prior and contemporaneous agreements and statements
on these subjects. If any practices, policies, or procedures of the Company, now or in the future, that apply to me are inconsistent
with the terms hereof, the provisions of this Agreement shall control unless changed in writing by the Company.

13.Employment
at Will. This Agreement is not an employment agreement. Except as set forth in my employment agreement, if any, the Company
may terminate my employment with it at any time, with or without cause.

14.Construction.
This Agreement shall be construed as a whole, according to its fair meaning, and not in favor of or against any party. By way of
example and not limitation, this Agreement shall not be construed against the party responsible for any language in this Agreement.
The headings of the paragraphs hereof are inserted for convenience only, and do not constitute part of and shall not be used to
interpret this Agreement.

15.Rights
Cumulative. The rights and remedies provided hereby to the Company are cumulative, and the exercise of any right or remedy
by the Company, whether pursuant hereto, to any other agreement, or to law, shall not preclude or waive the Company's right to
exercise any or all other rights and remedies.

    	6

    	 

    

I HAVE READ THIS AGREEMENT CAREFULLY AND I UNDERSTAND
AND ACCEPT THE OBLIGATIONS WHICH IT IMPOSES UPON ME WITHOUT RESERVATION. I HAVE HAD THE OPPORTUNITY TO CONSULT LEGAL COUNSEL IN
REGARD TO THIS AGREEMENT AND AM FULLY AWARE OF ITS LEGAL EFFECT. I HAVE ENTERED INTO THIS AGREEMENT FREELY AND VOLUNTARILY AND
BASED ON MY OWN JUDGMENT. NO PROMISES OR REPRESENTATIONS HAVE BEEN MADE TO ME TO INDUCE ME TO SIGN THIS AGREEMENT.

 

	Date:	 	 	 
	 	 	 	Employee Signature

 

Accepted and Agreed to:

 

	By:	 	 
	Name:	 	 
	Title:	 	 

 

7Exhibit 10.3

May 8, 2006

Teragenix Corporation

5440 NW 33rd Avenue, Suite 108

Ft. Lauderdale, FL 33309

HemaCare Corporation

21101 Oxnard Street

Woodland Hills, California 91367

Re:  Agreement to Replace Promissory Note

Dear Joe and Judi:

Reference is made to the following:

1.Promissory Note in the principal amount of $450,000, dated
November 11, 2005, issued by Teragenix Corporation (“Teragenix”) to the order of Lawrence Feldman (the “Existing
Note”); and

2.Non-Binding Letter of Intent dated March 10, 2006 between HemaCare
Corporation (“HemaCare”) and Teragenix (the “LOI”).

The LOI sets forth the proposed terms for the acquisition of 100%
of the outstanding capital stock of Teragenix by HemaCare (the “Acquisition”).  One of the terms of the
Acquisition is the replacement of the Existing Note with a new subordinated promissory note in the principal amount of $250,000,
the form of which is attached hereto as Exhibit “A” (the “New Note”).  In furtherance
of their desire to proceed with the Acquisition, Teragenix and HemaCare have requested that the undersigned agree to replace the
Existing Note with the New Note.  The replacement of the Existing Note with the New Note would occur concurrently with the
closing of the Acquisition.

In consideration of the shorter time to maturity in the New Note
relative to the Existing Note and the obligation of Teragenix to pay interest annually in the New Note, as well as the benefits
which the undersigned expects Teragenix to realize as a result of the consummation of the Acquisition, the undersigned hereby agrees
to accept, concurrently with the closing of the Acquisition, the New Note in substitution for the Existing Note and agrees to the
terms of the New Note as reflected on Exhibit “A”.

     

     

    

 

Letter to Teragenix and HemaCare

May 8, 2006

This letter agreement constitutes the entire agreement among the
undersigned, Teragenix and HemaCare with respect to the subject matter hereof and may be amended or modified only in a written
agreement among such parties.  This letter agreement may be executed in any number of counterparts and by different parties
on separate counterparts.  Each of such counterparts shall be deemed to be an original, and all of such counterparts, taken
together, shall constitute but one and the same agreement.  Delivery of an executed counterpart of this letter by telefacsimile
shall be equally effective as delivery of a manually executed counterpart.

[signature page to follow]

 

    	2

    	 

    

 

Letter to Teragenix and HemaCare

May 8, 2006

 

Sincerely,

 

	/s/ Lawrence Feldman	 
	Lawrence Feldman

 

Acknowledged and Agreed:

TERAGENIX CORPORATION

 

	By:	  /s/ Joseph Mauro	 

Title:  President

 

HEMACARE CORPORATION

 

	By:	  /s/ Judi Irving	 

Title:  President & CEO

    	3

    	 

    

EXHIBIT “A”

Form of New Note

 

AMENDED AND RESTATED SUBORDINATED PROMISSORY
NOTE

	$250,000.00	 	Fort Lauderdale, Florida
	 	 	August 29, 2006

 

FOR VALUE RECEIVED, TERAGENIX
CORPORATION, a Florida corporation (the “Payor”), promises to pay to the order of LAWRENCE FELDMAN (the
“Payee”) at 777 17th Street, Miami Beach, FL 33139-1854, the principal sum of TWO HUNDRED FIFTY THOUSAND DOLLARS
($250,000), together with interest from the date hereof at a rate equal to 7% simple interest per annum.

1.            
Payments of Principal and Interest; Time of the Essence.  Principal under this note shall be due and payable in four
(4) equal, consecutive, annual installments in the amount of SIXTY TWO THOUSAND FIVE HUNDRED DOLLARS ($62,500) on each anniversary
of the date of this note commencing on the first anniversary and continuing through the fourth anniversary, at which time all principal
that remains unpaid shall be due and payable in full.  Accrued but unpaid interest to the date of each principal payment shall
be due and payable on such date and any remaining accrued but unpaid interest shall be due and payable concurrently with the final
principal payment under this note.  Time is of the essence.

2.            
Prepayment.  Subject to the terms of Section 5 below, this note may be prepaid in whole or in part at any time without
premium or penalty.

3.             
Acceleration after Default; Default Interest Rate.  If any payment remains unpaid after the same shall become due,
the entire principal sum shall forthwith become due at the option of the holder of this note.  While this note is in default,
it shall bear interest at the maximum rate of 10% per annum.

4.            
Florida Documentary Stamp Tax. Florida documentary stamp tax required by law in the amount of $2,450 has been paid directly
to the Florida Department of Revenue.

5.            
Subordination to Senior Debt.  The Payee, by acceptance of this note, agrees that the payment of the principal and
interest of this note is subordinated to the extent and as provided below and undertakes, as a condition to the right to receive
any payments hereunder, to execute such subordination agreements as may be requested by the Senior Lenders (as defined below) from
time to time.

(a)  As used herein, the term
“Senior Debt” shall mean any and all indebtedness of the Payor and all of its subsidiaries (collectively, the “Company”)
owed to Senior Lenders together with (i) all complete or partial refinancings of such indebtedness, (ii) any amendments,
restatements, extensions, modifications, amendments, renewals or substitutions with respect to the foregoing, (iii) interest,
reasonable attorney fees, other fees and other sums payable in respect thereof, and (iv) any interest accruing thereon after
the commencement of a bankruptcy proceeding, without regard to whether or not such interest is an allowed claim in such proceeding. 
The term “Senior Lenders” shall mean any institutional lender or lenders providing one or more senior secured credit
facilities to the Company.  Senior Debt shall be considered to be outstanding whenever any loan or loan commitment remains
outstanding under a loan agreement entered into with a Senior Lender.

    	4

    	 

    

 

(b)  Except as specifically
permitted in Section 5(c) below, the Payee, by acceptance of this note, agrees that the Payee will not ask, demand, sue for, accept,
or receive payment from the Payor, by set-off or in any other manner, either in whole or in part, of any of the principal of or
interest accrued on the indebtedness evidenced by this note (the “Subordinated Indebtedness”).

(c)  The Payor shall
pay or cause to be paid to the Payee the Subordinated Indebtedness as set forth in Section 1 (and Section 3 with respect to interest
after default) above, except that the Payor shall not be required or permitted to make any payment on the Subordinated Indebtedness
if an event of default exists with respect to the Senior Debt until such time as such event of default has been cured or waived
by the Senior Lender.  The Payor may make prepayments of this note only upon receipt of written consent thereto from the Senior
Lender.

6.             
Miscellaneous.  Should it become necessary to collect this note through an attorney, the Payor hereby agrees to pay
all costs of collection, including a reasonable attorney’s fee.  Said reasonable attorney’s fee shall include
fees for services rendered in all appellate proceedings.  The Payor waives presentment for payment and protest for nonpayment
of this note; agrees to an extension of the time of payment of this note, without notice; and agrees that any such extensions will
not release the Payor’s liability hereon.

7.            
Choice of Law.  This note will be interpreted, construed and enforced in accordance with the laws of the State of Florida,
without giving effect to the application of the principles pertaining to conflicts of laws.

8.            
Amendment and Restatement of Note.  This note amends, restates, replaces and supercedes that that certain Promissory
Note (“Prior Note”) dated November 11, 2005, in the principal amount of $450,000, issued by the Payor to the order
of the Payee, which Prior Note upon Payor’s execution and delivery of this Note to Payee shall be null, void and of no further
legal force or effect.

 

9.            
WAIVER OF JURY TRIAL.  THE PAYOR HEREBY, AND THE PAYEE BY ACCEPTANCE OF THIS NOTE, KNOWINGLY, VOLUNTARILY
AND INTENTIONALLY WAIVE THE RIGHT EITHER MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT
OF, UNDER OR IN CONNECTION WITH THIS NOTE AND ANY AGREEMENT CONTEMPLATED TO BE EXECUTED IN CONJUNCTION HEREWITH OR ANY COURSE OF
CONDUCT, COURSE OR DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF EITHER PARTY.  THIS PROVISION IS A MATERIAL
INDUCEMENT FOR THE PAYEE ACCEPTING THIS NOTE.

	 	TERAGENIX CORPORATION
	 	 	 
	 	 	 
	 	By:	/	 
	 	 	Joseph L Mauro, President

 

5

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