Document:

Form of Stock Option Agreement for Employees

 EXHIBIT 10.24 
 THE PMI GROUP, INC. 
  
 NONQUALIFIED STOCK OPTION AGREEMENT 
  
 The PMI Group,
Inc. (the “Company”) hereby grants you, [NAME OF EMPLOYEE] (the “Employee”), a stock option under the Company’s Amended and Restated Equity Incentive Plan (the “Plan”), to purchase shares of common stock of the
Company. The date of this Agreement is [DATE]. In general, the latest date this option will expire is [DATE 10 YEARS AFTER GRANT DATE] (the “Expiration Date”). However, as provided in Appendix A (attached hereto) and the Plan, this option
may expire earlier than the Expiration Date. Subject to the provisions of Appendix A and of the Plan, the principal features of this option are as follows: 
  
 Maximum Number of Shares Purchasable with this Option: [NUMBER A] 
 Purchase Price per Share: $[NUMBER B] 
  

			
	 Scheduled Vesting Dates:

	  	Number of Shares:

	[DATE]	  	[         OF NUMBER A]
		
	[DATE]	  	[         OF NUMBER A]
		
	[DATE]	  	[         OF NUMBER A]

  

			
	 Event Triggering
 Option
Termination

	  	Maximum Time to Exercise
After Triggering Event

	Termination of Service (except as shown below)	  	1 year
	Termination of Service due to Disability	  	3 years
	Termination of Service due to Retirement	  	3 years
	Termination of Service due to death	  	3 years
	10 years after Grant Date	  	None

  
 IMPORTANT:

  
 IT IS YOUR RESPONSIBILITY TO EXERCISE

 THIS OPTION BEFORE IT EXPIRES. 
  
 Your signature below indicates your agreement and understanding that this option is subject to all of the terms and conditions contained in Appendix A and the Plan. For
example, important additional information on vesting and termination of this option is contained in Paragraphs 4 through 6 of Appendix A. PLEASE BE SURE TO READ ALL OF APPENDIX A, WHICH CONTAINS THE SPECIFIC TERMS AND CONDITIONS OF THIS
OPTION. 
  

			
	THE PMI GROUP, INC.	 	EMPLOYEE
	  
  

	 	  
  

	Charles F. Broom	 	[Name]
	Senior Vice President	 	 

 APPENDIX A 
  

TERMS AND CONDITIONS OF NONQUALIFIED STOCK OPTIONS 
  
 1. Grant of Option. The Company hereby grants to the Employee under the Plan, as a separate incentive in connection with his or her employment and not in lieu of
any salary or other compensation for his or her services, a nonqualified stock option to purchase, on the terms and conditions set forth in this Agreement and the Plan, all or any part of an aggregate of the maximum number of Shares set forth on the
first page of this Agreement. The option granted hereby is not intended to be an Incentive Stock Option within the meaning of Section 422 of the IRS Code. 
  
 2. Exercise Price. The purchase price per Share for this option (the “Exercise Price”) shall be equal to the Purchase Price per Share set forth on the
first page of this Agreement. 
  
 3. Number of Shares. The number and class
of Shares specified in Paragraph 1 above, and/or the Exercise Price, are subject to appropriate adjustment in the event of changes in the capital stock of the Company by reason of stock dividends, split-ups or combinations of Shares,
reclassifications, mergers, consolidations, reorganizations or liquidations. Subject to any required action of the stockholders of the Company, if the Company shall be the surviving corporation in any merger or consolidation, the option granted
hereunder (to the extent that it is still outstanding) shall pertain to and apply to the securities to which a holder of the same number of Shares that are then subject to this option would have been entitled. To the extent that the foregoing
adjustments relate to stock or securities of the Company, such adjustments shall be made by the Committee. 
  
 4. Vesting Schedule. Except as otherwise provided in this Agreement, the right to exercise this option will vest as provided under the “Scheduled Vesting Dates” set forth on the first page of this
Agreement. Shares scheduled to vest on any such date actually will vest only if the Employee has not incurred a Termination of Service prior to such date. 
  
 5. Termination of Option. In the event of the Employee’s Termination of Service for any reason other than Retirement, Disability or death, the Employee may,
within the period set forth on the first page of this Agreement, or prior to the Expiration Date, whichever shall first occur, exercise any vested but unexercised portion of this option. In the event of the Employee’s Termination of Service due
to Disability, the Employee may, within the period set forth on the first page of this Agreement, or prior to the Expiration Date, whichever shall first occur, exercise any vested but unexercised portion of this option. In the event of the
Employee’s Termination of Service due to Retirement, the Employee may, within the period set forth on the first page of this Agreement, or prior to the Expiration Date, whichever shall first occur, exercise any vested but unexercised portion of
this option. 
  
 6. Death of Employee. In the event that the Employee dies
while an employee of the Company or an Affiliate or during the periods referred to in Paragraph 5 above, the Employee’s designated beneficiary or beneficiaries, or if no beneficiary survives the Employee, the administrator or executor of the
Employee’s estate, may, within three (3) years after the date of death exercise any 

 vested but unexercised portion of this option. Any such transferee must furnish the Company (a) written notice of his or
her status as transferee, (b) evidence satisfactory to the Company to establish the validity of the transfer of this option and compliance with any laws or regulations pertaining to such transfer, and (c) written acceptance of the terms and
conditions of this option as set forth in this Agreement. 
  
 7. Persons
Eligible to Exercise. This option shall be exercisable during the Employee’s lifetime only by the Employee. This option shall be non-transferable by the Employee other than by a beneficiary designation made in a form and manner acceptable
to the Committee, or by will or the applicable laws of descent and distribution. 
  
 8. Exercise of Option. This option may be exercised by the person then entitled to do so as to any vested Shares which may then be purchased (a) by giving notice of exercise in such form or manner as the Company may designate, (b)
providing full payment of the Exercise Price (and the amount of any income and employment tax and applicable fees, if any, the Company determines is required to be withheld by reason of the exercise of this option or as is otherwise required under
Paragraph 10 below), and (c) giving satisfactory assurances in the form or manner requested by the Company that the Shares to be purchased upon the exercise of this option are being purchased for investment and not with a view to the distribution
thereof. 
  
 9. Conditions to Exercise. Except as provided in Paragraph 8
above or as otherwise required as a matter of law, the Exercise Price for this option may be made in one or more of the following forms: 
  
 (a) Personal check, a cashier’s check or a money order. 
  
 (b) Irrevocable directions to a securities broker approved by the Company to sell all or part of the option Shares and to deliver to the Company from the
sale proceeds an amount sufficient to pay the Exercise Price and any required withholding taxes. (The balance of the sale proceeds, if any, will be delivered to the Employee.) 
  
 (c) In another form permitted by the Committee in accordance with the terms of the Plan. 
  
 10. Tax Withholding and Payment Obligations. The Company will assess its requirements
regarding tax, social insurance and any other payroll tax withholding and reporting in connection with this option, including the grant, vesting or exercise of this option or sale of Shares acquired pursuant to the exercise of this option
(“tax-related items”). These requirements may change from time to time as laws or interpretations change. Regardless of the Company’s actions in this regard, the Employee hereby acknowledges and agrees that the ultimate liability for
any and all tax-related items is and remains his or her responsibility and liability and that the Company (a) makes no representations or undertaking regarding treatment of any tax-related items in connection with any aspect of this option grant,
including the grant, vesting or exercise of this option and the subsequent sale of Shares acquired pursuant to the exercise of this option, and (b) does not commit to structure the terms of the grant or any aspect of this option to reduce or
eliminate the Employee’s liability regarding tax-related items. In the event the Company determines that it and/or an Affiliate must withhold any tax-related items as a result of the 

 Employee’s participation in the Plan, the Employee agrees as a condition of the grant of this option to make
arrangements satisfactory to the Company to enable it to satisfy all withholding requirements. The Employee authorizes the Company and/or an Affiliate to withhold all applicable withholding taxes from the Employee’s wages. Furthermore, the
Employee agrees to pay the Company and/or an Affiliate any amount of taxes the Company and/or an Affiliate may be required to withhold as a result of the Employee’s participation in the Plan that cannot be satisfied by deduction from the
Employee’s wages or other cash compensation paid to the Employee by the Company and/or an Affiliate. The Employee acknowledges that he or she may not exercise this option unless the tax withholding obligations of the Company and/or any
Affiliate are satisfied. 
  
 11. Suspension of Exercisability. If at any
time the Company shall determine, in its discretion, that the listing, registration or qualification of the Shares covered by this option upon any securities exchange or under any state or federal law, or the consent or approval of any governmental
regulatory authority, is necessary or desirable as a condition of the purchase of Shares hereunder, this option may not be exercised, in whole or in part, unless and until such listing, registration, qualification, consent or approval shall have
been effected or obtained free of any conditions not acceptable to the Company. The Company shall make reasonable efforts to meet the requirements of any such state or federal law or securities exchange and to obtain any such consent or approval of
any such governmental authority. 
  
 12. No Rights of Stockholder. Neither
the Employee nor any person claiming under or through said Employee shall be or have any of the rights or privileges of a stockholder of the Company in respect of any of the Shares issuable upon the exercise of this option, unless and until
certificates representing such Shares shall have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to the Employee (or the person claiming under or through the Employee). 
  
 13. No Effect on Employment. The Employee’s employment with the Company and its
Affiliates is on an at-will basis only, subject to the provisions of applicable law. Accordingly, subject to any written, express employment contract with the Employee, nothing in this Agreement or the Plan shall confer upon the Employee any right
to continue to be employed by the Company or any Affiliate or shall interfere with or restrict in any way the rights of the Company or the Affiliate, which are hereby expressly reserved, to terminate the employment of the Employee at any time for
any reason whatsoever, with or without good cause. Such reservation of rights can be modified only in an express written contract executed by a duly authorized officer of the Company or the Affiliate employing the Employee. For purposes of this
Agreement, the transfer of employment of the Employee between the Company and any one of its Affiliates (or between Affiliates) shall not be deemed a Termination of Service. In addition, a leave of absence or an interruption in service (including an
interruption during military service) authorized or acknowledged by the Company, or the Affiliate employing the Employee, as the case may be, shall not be deemed a Termination of Service for the purposes of this Agreement. 
  
 14. Address for Notices. Any notice to be given to the Company under the terms of this
Agreement shall be addressed to the Company, in care of The PMI Group, Inc., Attn: General Counsel, 3003 Oak Road, Walnut Creek, California 94597, or at such other address as the Company may hereafter designate in writing. 

 15. Option is Not Transferable. Except as otherwise expressly provided herein, this option and the rights and
privileges conferred hereby shall not be transferred, assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) and shall not be subject to sale under execution, attachment or similar process. Upon any attempt to
transfer, assign, pledge, hypothecate or otherwise dispose of this option, or of any right or privilege conferred hereby, or upon any attempted sale under any execution, attachment or similar process, this option and the rights and privileges
conferred hereby immediately shall become null and void. 
  
 16. Maximum Term
of Option. Notwithstanding any other provision of this Agreement, this option is not exercisable after the Expiration Date. 
  
 17. Exchange for Stock Appreciation Rights (“SARs”). In its discretion, the Committee may institute a program whereby outstanding options are surrendered
or cancelled in exchange for a grant of SARs having a value less than or equal to the value of the surrendered or cancelled options as determined by the Committee. Participation in such a program may, in the discretion of the Committee, be
mandatory. Any SARS granted in exchange for the surrender or cancellation of options shall (a) be payable solely in Shares, (b) vest at a rate no faster then the vesting schedule of the surrendered or cancelled option and (c) expire no later than
the date on which the surrendered or cancelled option would have expired had the option remained outstanding. 
  
 18. Data Privacy. The Employee understands that the Company and its Affiliates holds certain personal information about the Employee, including, but not limited to, the Employee’s name, home address and
telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any Shares of stock or directorships held in the Company, details of all options or any other entitlement to Shares of stock
awarded, canceled, exercised, vested, unvested or outstanding in the Employee’s favor, for the purpose of implementing, administering and managing the Plan (“Data”). The Employee understands that Data may be transferred to any third
parties assisting in the implementation, administration and management of the Plan, that these recipients may be located in the Employee’s country or elsewhere, and that the recipient’s country may have different data privacy laws and
protections than the Employee’s country. The Employee understands that the Employee may request a list with the names and addresses of any potential recipients of the Data by contacting the Employee’s local human resources representative.
The Employee authorizes the recipients to receive, possess, use, retain and transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing the Employee’s participation in the Plan, including any
requisite transfer of such Data as may be required to a broker or other third party with whom the Employee may elect to deposit any Shares acquired upon exercise of this option. The Employee understands that Data will be held only as long as is
necessary to implement, administer and manage the Employee’s participation in the Plan. The Employee may, at any time, view Data, request additional information about the storage and processing of Data, require any necessary amendments to Data
or refuse or withdraw the consents herein, in any case without cost, by contacting in writing the Employee’s local human resources representative. The 

 Employee understands, however, that refusing or withdrawing his or her consent may affect his or her ability to
participate in the Plan. For more information on the consequences of the Employee’s refusal to consent or withdrawal of consent, the Employee may contact his or her local human resources representative. 
  
 19. Binding Agreement. Subject to the limitation on the transferability of this option
contained herein, this Agreement shall be binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties hereto. 
  
 20. Plan Governs. This Agreement is subject to all terms and provisions of the Plan. In the event of a conflict between one or more
provisions of this Agreement and one or more provisions of the Plan, the provisions of the Plan shall govern. Capitalized terms used and not defined in this Agreement shall have the meaning set forth in the Plan. 
  
 21. Committee Authority. The Committee shall have the power to interpret the Plan and
this Agreement and to adopt such rules for the administration, interpretation and application of the Plan as are consistent therewith and to interpret or revoke any such rules. All actions taken and all interpretations and determinations made by the
Committee in good faith shall be final and binding upon the Employee, the Company and all other interested persons, and shall be given the maximum deference permitted by law. No member of the Committee shall be personally liable for any action,
determination or interpretation made in good faith with respect to the Plan or this Agreement. 
  
 22. Captions. Captions provided herein are for convenience only and are not to serve as a basis for interpretation or construction of this Agreement. 
  
 23. Agreement Severable. In the event that any provision in this Agreement shall be
held invalid or unenforceable, such provision shall be severable from, and such invalidity or unenforceability shall not be construed to have any effect on, the remaining provisions of this Agreement. 
  
 24. Modifications to the Agreement. This Agreement constitutes the entire
understanding of the parties on the subjects covered. The Employee expressly warrants that he or she is not executing this Agreement in reliance on any promises, representations, or inducements other than those contained herein. Except as otherwise
provided herein, modifications to this Agreement or the Plan can be made only in an express written contract executed by a duly authorized officer of the Company. 
  
 25. Amendment, Suspension, Termination. By accepting this option, the Employee expressly warrants that he or she has received an
option to purchase stock under the Plan, and has received, read and understood a description of the Plan. The Employee understands that the Plan is discretionary in nature and may be modified, suspended or terminated by the Company at any time.

  
 o O oResignation Agreement

 Exhibit 10.1 
  
 RESIGNATION AND GENERAL RELEASE AGREEMENT 
  
 This Resignation and General Release Agreement (the “Agreement”) is made as of the date subscribed below, by and
between Tim Hart (“Hart”) and SeraCare Life Sciences, Inc. (“Company”). 
  
 RECITALS 
  
 A. WHEREAS,
Hart was employed by Company as Chief Financial Officer; and 
  
 B. WHEREAS, Hart desires to resign as Chief Financial Officer, and Hart and the Company mutually desire to set forth the parties’ rights and obligations upon such resignation. 
  
 NOW, THEREFORE, in consideration of the above recitals and for other
good and valuable consideration, the sufficiency of which is hereby acknowledged, and intending to be legally bound, Hart and Company agree as follows: 
  
 1. Resignation. Hart hereby resigns his position as Chief Financial Officer for Company and as an officer of the Company and its subsidiary and
affiliated businesses effective February 14, 2005 (“Resignation Date”). Except as otherwise provided in this Agreement, all benefits and perquisites of employment as Chief Financial Officer ceased as of the Resignation Date. Hart and the
Company acknowledge that they have no further employment or contractual relationship except as may arise out of this Agreement. Hart acknowledges that he has received all amounts owed for his regular and usual salary as Chief Financial Officer, and
his usual benefits and accrued but unused vacation through the Resignation Date. 
  
 2. Severance. In consideration for the covenants undertaken and releases given herein by Hart, and provided that Hart (a) executes this Agreement, (b) is not in breach or default of this Agreement and (c) has
performed all of his obligations under this Agreement, Company shall pay to Hart a lump sum payment in a total gross amount of Twenty Thousand Dollars and No Cents ($20,000.00). Such payment shall be paid within 10 days following Hart’s
execution of this Agreement. Such payment is for and in lieu of any other payments or benefits (and none shall accrue) beyond the Resignation Date. 
  
 3. Stock Options. That certain stock option granted by the Company to Hart on or about October 28, 2003 to purchase 20,000 shares of the
Company’s common stock at a per share exercise price of $8.19 is hereby terminated. Hart shall have no further rights with respect thereto or in respect thereof. Notwithstanding anything to the contrary in the Company’s 2001 Stock
Incentive Plan, the following rules shall apply with respect to that certain stock option granted by the Company to Hart on or about June 4, 2003 to purchase 20,000 shares of the Company’s common stock at a per share exercise price of $4.05:
(1) Hart shall continue to vest in such option in accordance with its stated vesting schedule as though his employment by the Company had not terminated, (2) Hart shall have 90 days from the date that such option becomes fully vested to exercise
such option (subject to earlier termination pursuant to the Company’s 
  

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 2001 Stock Incentive Plan in the event of a change in control or similar event), (3) the option, to the extent not
exercised at the end of such 90-day period, shall terminate and Hart shall have no further rights with respect thereto or in respect thereof, and (4) the other terms and conditions of the option shall continue to apply. 
  
 4. Releases. 
  
 a. Release by Hart. In consideration of the covenants
undertaken herein by the Company, and except for those obligations created by or arising out of this Agreement, Hart, on his own behalf and on behalf of his descendants, dependents, heirs, executors, administrators, assigns and successors, does
hereby covenant not to sue and acknowledges full and complete satisfaction of and hereby releases, absolves and discharges the Company and its heirs, successors and assigns, parent, subsidiaries, divisions and affiliated corporations, past and
present, as well as its and their trustees, directors, officers, agents, attorneys, insurers and employees, past and present, and each of them (hereinafter collectively referred to as “Releasees”), with respect to and from any and all
claims, demands, liens, agreements, contracts, covenants, actions, suits, causes of action, wages, obligations, debts, expenses, attorneys’ fees, damages, judgments, orders and liabilities of whatever kind or nature in law, equity or otherwise,
whether now known or unknown, suspected or unsuspected, and whether or not concealed or hidden, which Hart now owns or holds or has at any time heretofore owned or held as against said Releasees, or any of them, arising out of or in any way
connected with his employment relationship with the Company, or his resignation as an Chief Financial Officer, or any other transactions, occurrences, acts or omissions or any loss, damage or injury whatever, known or unknown, suspected or
unsuspected, resulting from any act or omission by or on the part of said Releasees, or any of them, committed or omitted prior to the date of this Agreement, including specifically but without limiting the generality of the foregoing, any claim
under Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act, the Age Discrimination in Employment Act of 1967, as amended by the Older Worker’s Benefit Protection Act (“ADEA”), the Family and Medical Leave
Act, the California Fair Employment and Housing Act, or the California Family Rights Act. 
  
 b. Release by Company. Except for those obligations created by or arising out of this Agreement, the Company hereby acknowledges
full and complete satisfaction of and releases and discharges, and covenants not to sue, Hart from and with respect to any and all claims, agreements, obligations, losses, damages, injuries, demands and causes of action, known or unknown, suspected
or unsuspected, arising out of or in any way connected with Hart’s employment relationship with or termination from the Company, or any other occurrences, actions, omissions or claims whatever, known or unknown, suspected or unsuspected, which
the Company now owns or holds or has at any time heretofore owned or held as against Hart. 
  
 c. Section 1542 Waiver. It is a further condition of the consideration hereof and is the intention of the parties in executing this
instrument that the same shall be effective as a bar as to each and every claim, demand and cause of action hereinabove specified and, in furtherance of this intention, the parties hereby expressly waive any and all rights or benefits conferred by
the provisions of SECTION 1542 OF THE 
  

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 CALIFORNIA CIVIL CODE and expressly consent that this Agreement shall be given full force and effect
according to each and all of its express terms and conditions, including those relating to unknown and unsuspected claims, demands and causes of actions, if any, as well as those relating to any other claims, demands and causes of actions
hereinabove specified. SECTION 1542 provides: 
  
 “A GENERAL
RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR.” 
  
 The parties acknowledge that he or it may hereafter discover claims or facts
in addition to or different from those which they now know or believe to exist with respect to the subject matter of this Agreement and which, if known or suspected at the time of executing this Agreement, may have materially affected this
settlement. Nevertheless, Hart and the Company hereby waive any right, claim or cause of action that might arise as a result of such different or additional claims or facts. Hart and the Company each acknowledge that they understand the significance
and consequence of such release and such specific waiver of SECTION 1542. 
  
 5. ADEA Waiver. Hart agrees that he is releasing any and all claims for age discrimination under the ADEA, and any federal, state or local fair employment acts arising up to the date of the execution of this
Agreement and that (i) he is receiving consideration beyond that he otherwise would have been entitled to receive before signing this Agreement; (ii) Hart is hereby advised to consult an attorney of his choice prior to the execution of this
Agreement; (iii) Hart has been given twenty-one (21) days from the date of receipt of this Agreement to decide whether or not to execute it, and knowingly and voluntarily chose to waive the 21-day period as evidenced by his execution of
Acknowledgment and Waiver attached hereto as Exhibit 1; and (iv) Hart has seven (7) days from the execution of this Agreement to revoke its execution and this Agreement will become null and void if Hart elects revocation during that time. Any
revocation must be in writing and must be received by the Company during the seven-day revocation period. In the event that Hart exercises his right of revocation, neither Hart nor the Company will have any obligations under this Agreement.

  
 6. No Admission of Liability. While this Agreement
resolves all issues between Hart and the Company, as well as any future effects of any acts or omissions, it does not constitute an admission by the Company or Hart of any violation of any federal, state or local law, ordinance or regulation or of
any violation of the Company’s policies or procedures or of any liability or wrongdoing whatsoever. Neither this Agreement nor anything in this Agreement shall be construed to be or shall be admissible in any proceeding as evidence of liability
or wrongdoing by the Company or Hart. This Agreement may be introduced, however, in any proceeding to enforce the Agreement. Such introduction shall be pursuant to an order protecting its confidentiality. 
  

 -3- 

 7. Confidential Information. Hart acknowledges that by reason of his position with the Company, he
has been given access to confidential, proprietary or private materials or information respecting the Company’s and its participants’ affairs. Hart represents that he has held all such information confidential and will continue to do so,
and that he will not use such information without the prior written consent of the Company. In addition, Hart warrants and represents that he has returned to the Company all documents (including copies) within his possession or control which contain
any such information. 
  
 8. No Transferred Claims. Hart
warrants and represents that he has not heretofore assigned or transferred to any person not a party to this Agreement any released matter or any part or portion thereof and Hart shall defend, indemnify and hold harmless the Company from and against
any claim (including the payment of attorneys’ fees and costs actually incurred whether or not litigation is commenced) based on or in connection with or arising out of any such assignment or transfer made, purported or claimed. 
  
 9. Non-Disparagement. Hart agrees that he shall not directly or
indirectly, make or ratify any statement, oral or written, to any person that (i) disparages the Company, its subsidiaries or its officers and directors, past and present, and each of them, or (ii) has the purpose or effect of interfering with the
Company’s business. The Company agrees that none of its directors or officers shall directly or indirectly make or ratify any statement, oral or written, to any person that disparages Hart. 
  
 10. Cooperation. All parties agree to cooperate fully and to execute
any and all supplementary documents and to take all additional actions that may be necessary or appropriate to give full force to the basic terms and intent of this Agreement and which are not inconsistent with its terms. Hart shall not assist,
cooperate or otherwise participate in the assertion of any claims of any kind against the Company by any other person or entity, provided, however, that it shall not be a breach of this provision for Hart to testify truthfully if compelled by
subpoena or other court order. Hart agrees to notify the Company’s Chief Executive Officer within a reasonable period of time after he has learned of any subpoena or other court order seeking to compel his testimony in any proceeding involving
the Company. Hart also agrees to cooperate with the Company in any actual or threatened litigation that arises against or brought by the Company that relates to, or involves, Hart’s employment with the Company, including but not limited to
participating in interviews with the Company’s counsel to assist the Company in any such litigation. After the Resignation Date, except as requested by the Company or as required by law, Hart shall not comment upon any threatened or pending
claim or litigation (including investigations or arbitrations) involving the Company. 
  
 11. Warranty Regarding Taxes. Hart agrees that Hart shall be exclusively liable for the payment of all federal and state taxes which may be due as the result of the consideration received from the settlement of
disputed claims as set forth herein and Hart hereby represents that Hart shall make payments on such taxes at the time and in the amount required of Hart. 
  
 12. Complete Agreement. This Agreement constitutes and contains the entire agreement and understanding concerning Hart’s employment with the
Company, resignation as Chief Financial Officer, and the other subject matters addressed herein between the parties, and supersedes and replaces all prior negotiations and all agreements proposed or otherwise, whether written or oral, concerning the
subject matter hereof. This is an integrated document. 
  

 -4- 

 13. Severability. If any provision of this Agreement or the application thereof is held invalid,
the invalidity shall not affect other provisions or applications of the Agreement which can be given effect without the invalid provisions or applications and to this end the provisions of this Agreement are declared to be severable. 
  
 14. Choice of Law. This Agreement shall be deemed to have been
executed and delivered within the State of California, and the rights and obligations of the parties hereunder shall be construed and enforced in accordance with, and governed by, the laws of the State of California without regard to principles of
conflict of laws. 
  
 15. Waiver. No waiver of any breach
of any term or provision of this Agreement shall be construed to be, or shall be, a waiver of any other breach of this Agreement. No waiver shall be binding unless in writing and signed by the party waiving the breach. 
  
 16. Section Headings. Section and other headings contained in this
Agreement are for convenience of reference only and shall not affect in any way the meaning or interpretation of this Agreement. 
  
 17. Arbitration. Any dispute or controversy arising out of interpretation or enforcement of this Agreement shall be settled exclusively by
arbitration with JAMS in San Diego County, California, in accordance with the rules of JAMS then in effect. If JAMS is unable or unwilling to provide arbitration services in such an instance, the arbitration will be conducted through AAA. Judgment
may be entered on the arbitrator’s award in any court having jurisdiction and reasonable attorneys’ fees will be awarded to the prevailing party. 
  
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

  
  

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 I have read and understand the consequences of this Agreement and voluntarily sign it. I declare under
penalty of perjury under the laws of the State of California that the foregoing is true and correct. 
  
 EXECUTED this 22nd day of February 2005, at San Diego County, California. 
  

	
	 “Hart”

	
	 /s/ Tim Hart

	 Tim Hart

  
 EXECUTED this
22nd day of February 2005, at San Diego County, California. 
  

			
	 “Company”

	
	 SERACARE LIFE SCIENCES, INC.

		
	 By
	 	 /s/ Jerry L. Burdick

	 Its
	 	 Secretary

  

 -6- 

 Exhibit 1 
  

ACKNOWLEDGMENT AND WAIVER 
  
 I, Tim Hart, hereby acknowledge that I was given 21 days to consider the foregoing Agreement and knowingly and voluntarily, after consulting with legal
counsel of my choice, chose to sign the Agreement prior to the expiration of the 21-day period. 
  
 I declare under penalty of perjury under the laws of the State of California that the foregoing is true and correct. 
  
 EXECUTED this 22nd day of February 2005, at San Diego County, California.

  

	
	 /s/ Tim Hart

	 Tim Hart

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