Document:

<PAGE>
                                                                 EXHIBIT (10)(b)

                               LINE OF CREDIT NOTE

$5,000,000.00                  Nashville, Tennessee           as of May 12, 2003

         FOR VALUE RECEIVED, J. ALEXANDER'S CORPORATION and J. ALEXANDER'S
RESTAURANTS, INC., both Tennessee corporations (collectively, the "Maker"),
jointly and severally promise to pay to the order of BANK OF AMERICA, N.A.
("Payee" or "Bank of America"), the sum of Five Million and No/100 Dollars
($5,000,000.00), or as much thereof as may be outstanding from time to time,
together with interest thereon as set forth below. This Note is made pursuant to
the terms of that certain Loan Agreement dated as of May 12, 2003 (the "Loan
Agreement"). Capitalized terms not defined herein shall have the meanings set
forth in the Loan Agreement.

         Maker may borrow, repay and reborrow at any time, up to a maximum
aggregate amount outstanding at any one time equal to the principal amount of
this Note, provided that Maker is not in default, subject to applicable grace
and cure periods, if any, set forth in the Loan Agreement, under any provision
of this Note, any other documents executed in connection with this Note, or any
other note or other Loan Documents now or hereafter executed in connection with
any other obligation of Maker to Payee, and provided that the borrowings
hereunder do not exceed the limitation on borrowings by Maker set forth in
Section 2.(e)(ii) of the Loan Agreement.

         From the date hereof until the stated maturity of this Note, interest
shall accrue at the rate set forth in the Loan Agreement. From the date hereof
until the stated maturity of this Note, an unused commitment fee as determined
by the provisions of the Loan Agreement shall be paid quarterly in arrears.

         Interest in arrears shall be due and payable on the first (1st) day of
each month beginning on June 1, 2003, and continuing on the same day of each
consecutive month thereafter until the stated maturity of this Note. All
remaining principal and interest shall become due on April 30, 2006 (the
"Maturity Date").

         Maker has elected to authorize Bank of America to effect payment of
sums due under this Note by means of debiting Maker's account number 112638499
ABA routing # 0064002. This authorization shall not affect the obligation of
Maker to pay such sums when due, without notice, if there are insufficient funds
in such account to make such payment in full on the due date thereof, or if Bank
of America fails to debit the account.

         Subject to the provisions of the Loan Agreement, Maker has the option
to convert the $5,000,000.00 Line of Credit Loan evidenced by this note to a
term loan as more particularly set forth in the Loan Agreement.

         Interest hereunder shall be calculated based upon a 360 day year and
actual days elapsed. The interest rate required hereby shall not exceed the
maximum rate permissible under applicable law, and any amounts paid in excess of
such rate shall be applied to reduce the principal amount hereof or shall be
refunded to Maker, at the option of the holder of this Note.

                                       1
<PAGE>

         All amounts due under this Note are payable at par in lawful money of
the United States of America, at the principal place of business of Payee in
Nashville, Tennessee, or at such other address as the Payee or other holder
hereof (herein "Holder") may direct.

         Any payment not made within fifteen (15) days of its due date will be
subject to assessment of a late charge equal to five percent (5%) of such
payment. Holder's right to impose a late charge does not evidence a grace period
for the making of payments hereunder.

         The occurrence of a Default under the Loan Agreement shall constitute
an event of default under this Note.

         Upon the occurrence of an event of default, as defined above, Holder
may, at its option and without notice, terminate any obligation to advance funds
under this Note, declare all principal and interest provided for under this
Note, and any other obligations of Maker to Holder, to be presently due and
payable, and Holder may enforce any remedies available to Holder under any
documents securing or evidencing debts of Maker to Holder. Holder may waive any
default before or after it occurs and may restore this Note in full effect
without impairing the right to declare it due for a subsequent default, this
right being a continuing one. Upon default, at Holder's election, the remaining
unpaid principal balance of the indebtedness evidenced hereby and all expenses
due Holder shall bear interest at the Default Rate as said term is defined in
the Loan Agreement.

         All amounts received for payment of this Note shall be first applied to
any expenses due Holder under this Note or under any other documents evidencing
or securing obligations of Maker to Holder, then to accrued interest, and
finally to the reduction of principal. Prepayment of principal or accrued
interest may be made, in whole or in part, at any time without penalty. Any
prepayment(s) shall reduce the final payment(s) and shall not reduce or defer
installments next due.

         This Note may be freely transferred by Holder.

         Maker and all sureties, guarantors, endorsers and other parties to this
instrument hereby consent to any and all renewals, waivers, modifications, or
extensions of time (of any duration) that may be granted by Holder with respect
to this Note and severally waive demand, presentment, protest, notice of
dishonor, and all other notices that might otherwise be required by law. All
parties hereto waive the defense of impairment of collateral and all other
defenses of suretyship.

         Maker and all sureties, guarantors, endorsers and other parties hereto
agree to pay reasonable attorneys' fees and all court and other costs that
Holder may incur in the course of efforts to collect the debt evidenced hereby
or to protect Holder's interest in any collateral securing the same.

         The validity and construction of this Note shall be determined
according to the laws of Tennessee applicable to contracts executed and
performed within that state. If any provision of this Note should for any reason
be invalid or unenforceable, the remaining provisions hereof shall remain in
full effect.

                                       2
<PAGE>

         The provisions of this Note may be amended or waived only by instrument
in writing signed by the Holder and Maker and attached to this Note.

         Any controversy or claim between or among the parties to this Note or
any related loan or collateral agreements or instruments (collectively, "Loan
Documents"), including any claim based on or arising from an alleged tort, shall
be determined by binding arbitration in accordance with the Federal Arbitration
Act (or if not applicable, the applicable state law), the Rules of Practice and
Procedure for the arbitration of commercial disputes of Judicial Arbitration and
Mediation Services, Inc. (J.A.M.S.), and the "special rules" set forth below. In
the event of any inconsistency, the special rules shall control. Judgment upon
any arbitration award may be entered in any court having jurisdiction. Any party
to the Loan Documents may bring an action, including a summary or expedited
proceeding, to compel arbitration of any controversy or claim to which this
agreement applies in any court having jurisdiction over such action.

         The following "Special Rules" shall apply. The arbitration shall be
conducted in Nashville, Tennessee and administered by J.A.M.S. who will appoint
an arbitrator; if J.A.M.S. is unable or legally precluded from administering the
arbitration, then the American Arbitration Association will serve. All
arbitration hearings will be commenced within 90 days of the demand for
arbitration; further, the arbitrator shall only, upon a showing of cause, be
permitted to extend the commencement of such hearing for up to an additional 60
days.

         Nothing in the foregoing arbitration shall be deemed to (i) limit the
applicability of any otherwise applicable statutes of limitation or repose and
any waivers contained in the Loan Documents; or (ii) be a waiver by Bank of
America of the protection afforded to it by 12 U.S.C. Sec. 91 or any
substantially equivalent state law; or (iii) limit the rights of Bank of America
under the Loan Documents (a) to exercise self help remedies such as (but not
limited to) set-off, or (b) to foreclose against any real or personal property
collateral, or (c) to obtain from a court provisional or ancillary remedies such
as (but not limited to) injunctive relief, possession of collateral or the
appointment of a receiver. Bank of America may exercise such self help rights,
foreclose upon such property, or obtain such provisional or ancillary remedies
before, during or after the pendency of any arbitration proceeding brought
pursuant to the Loan Documents. At Bank of America's option, foreclosure under a
deed of trust or mortgage may be accomplished by any of the following: the
exercise of a power of sale under the deed of trust or mortgage, or by judicial
sale under the deed of trust or mortgage, or by judicial foreclosure. Neither
this exercise or self help remedies nor the institution or maintenance of an
action for foreclosure or provisional or ancillary remedies shall constitute a
waiver of the right of any party, including the claimant in any such action, to
arbitrate the merits of the controversy or claim occasioning resort to such
remedies.

THIS WRITTEN PROMISSORY NOTE REPRESENTS THE FINAL AGREEMENT BETWEEN THE PARTIES
AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT
ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN
THE PARTIES.

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<PAGE>

         Words used herein indicating gender or number shall be read as context
may require.

J. ALEXANDER'S CORPORATION                      J. ALEXANDER'S RESTAURANTS, INC.

By: R. Gregory Lewis                            By: R. Gregory Lewis
    --------------------------                      --------------------------
Title: Vice President and                           Title: Vice President
       Chief Financial Officer                            --------------------
       -----------------------

                                       4<PAGE>

                                 MARCH 31, 2003

                              SEROLOGICALS LIMITED

                                       and

                                 KEITH THOMPSON

                         ------------------------------
                              SEPARATION AGREEMENT
                         ------------------------------
<PAGE>
THIS AGREEMENT is made the 31st day of March 2003

BETWEEN:

(1)     SEROLOGICALS LIMITED registered in Scotland with registered number 12833
        is at Fleming Road, Kirkton Campus, Livingston, EH54 7BN (the
        "COMPANY"); and

(2)     KEITH THOMPSON of 115 Caiyside, Fairmilehead, Edinburgh EH10 7HR (the
        "EXECUTIVE").

RECITALS:

(A)     The Company has employed the Executive since 1 May 1985 most recently
        under the terms of a contract of employment dated the 2 January 1998 as
        subsequently amended.

(B)     The Executive's employment will terminate on 31 March 2003.

THIS AGREEMENT PROVIDES:

1.      DEFINITIONS AND INTERPRETATION

1.1     In this Agreement and the Schedule the following expressions, unless
        otherwise expressly stated, have the following respective meanings:

1.1.1   "BOARD" means the directors for the time being of the Company present at
        a duly convened quorate meeting of the directors or a committee of the
        directors duly appointed for the purpose in question;

1.1.2   "EUROPEAN UNION RIGHT" means any right which the may have under any
        treaty to which the United Kingdom is a party in connection with or
        arising out of its membership of the European Union or under any
        Directive, Regulation, Recommendation or Decision of any body directly
        or indirectly made pursuant to any such treaty;

1.1.3   "GROUP" means the Company, any holding company or companies for the time
        being of the Company and any subsidiary or subsidiaries for the time
        being of the Company or of any such holding company; "HOLDING COMPANY"
        and "SUBSIDIARY" have the meanings assigned to them respectively by
        section 736 of the Companies Act 1985, as amended by the Companies Act
        1989. For the avoidance of doubt "Group" includes Serologicals
        Corporation and any of its subsidiaries. The expressions "GROUP COMPANY"
        and "GROUP COMPANIES" shall be construed accordingly;

1.1.4   "PENSION SCHEME" means the pension scheme to which the Company has made
        contributions on the Executive's behalf in the month prior to the
        Termination Date;

1.1.5   "RELEVANT INDEPENDENT ADVISER" has the meaning contained in Section 9 of
        the Employment Rights (Dispute Resolution) Act 1998;

1.1.6   "RELEVANT STATUTES" means the Equal Pay Act 1970, Sex Discrimination Act
        1975, Race Relations Act 1976, Trade Union and Labour Relations
        (Consolidation) Act 1992,

                                       1
<PAGE>
        Employment Rights Act 1996, Disability Discrimination Act 1995 and
        Working Time Regulations 1998;

1.1.7   "SERVICE AGREEMENT" means the contract of employment between the
        Executive and the Company dated 2 January 1998 as amended;

1.1.8   "STATUTORY CLAIMS" means without limitation, all and any claims under
        the Relevant Statutes or any delegated legislation made under the
        authority of the Relevant Statutes or the European Communities Act 1972;
        and

1.1.9   "TERMINATION DATE" means 31 March 2003.

1.2     The Schedules form part of and are incorporated in this Agreement.

2.      TERMINATION OF EMPLOYMENT

2.1     The Executive's employment will terminate on the Termination Date.

3.      OBLIGATIONS OF EXECUTIVE

3.1     The Executive agrees that he will:

3.1.1   co-operate fully with the Company and continue to perform his duties to
        the best of his ability up to and including the Termination Date. In
        particular the Executive agrees to undertake an orderly transition of
        any projects or work with which he has been involved to those employees
        identified by the Company.

3.1.2   on or before the Termination Date resign from office as a director of
        the Company and from all other offices and positions which he holds by
        virtue of his employment pursuant to the Service agreement (including
        any position in any Group Company); and

3.1.3   no later than 5pm on 31 March 2003 return all property of the Company
        including, without limitation, correspondence, documents, papers,
        magnetic discs or tapes or other software storage media or any other
        property as is described in a schedule to be provided to the Executive
        on or about the Termination Date belonging to the Company which may be
        in the Executive's possession or under his control (with the exception
        of the property identified in clause 4.2.5 below).

4.      OBLIGATIONS OF COMPANY

4.1     The Company will pay to the Executive his basic salary and the Executive
        will continue to receive his other contractual benefits up to and
        including the Termination Date. For the avoidance of doubt the Company
        has paid to the Executive the sum of L19,579.00 in relation to his
        entitlement to a bonus award in respect of 2002. The Executive will
        receive a payment in lieu of any outstanding accrued but untaken holiday
        for the current year. All of these payments will be subject to tax,
        national insurance and pension contributions. The Executive's P45 will
        be issued to him.

4.2     The Company will (without any admission of liability), subject to this
        Agreement (including the Certificate attached as Schedule Two) being
        executed and returned to the Company by 4 April 2003:

                                       2
<PAGE>
4.2.1   pay to the Executive an ex gratia payment of L30,000 as compensation for
        loss of employment (which includes his entitlement to a statutory
        redundancy payment of L4,940) within 14 days of the date on which this
        Agreement (including the Certificate attached as Schedule Two) is
        executed and returned to the Company or within 14 days of the
        Termination Date (whichever is the later); and

4.2.2   pay to the Executive the sum of L105,000.00 as damages in respect of the
        Executive's entitlement to receive 9 months notice to be paid in two
        equal instalments as follows:

        (a)     L52,500.00 within 14 days of the date on which this Agreement
                (including the Certificate attached as Schedule Two) is executed
                and returned to the Company or within 14 days of the Termination
                Date (whichever is the later); and

        (b)     L52,500.00 on or before 4 months after the Termination Date.

4.2.3   pay the sum of L6,200.00 to the Pension Scheme on the Executive's
        behalf; within 14 days of the date on which this Agreement (including
        the Certificate attached as Schedule Two) is executed and returned to
        the Company or within 14 days of the Termination Date (whichever is the
        later); and

4.2.4   pay the Executive's outplacement costs incurred for 3 months up to a
        maximum of L3,000 plus VAT on production of an appropriate invoice
        addressed to the Executive and expressed to be payable by the Company.
        The Company will bear the cost of any tax relating to the provision of
        the outplacement services in accordance with this clause 4.2.4; and

4.2.5   permit the Executive to retain in perpetuity the fax machine which is in
        his possession but is the property of the Company.

4.3     The Company undertakes and agrees that it will not commence any action
        or proceedings against the Executive in respect of his employment with
        the Company and the holding of any office by him to the extent permitted
        by S310 Companies Act 1985.

5.      TAX

5.1     The sum in Clause 4.2.1 is paid in connection with the termination of
        employment. The parties acknowledge that the sum in clause 4.2.1 should
        be capable of being paid without deductions for income tax and national
        insurance contributions pursuant to the exemptions contained in section
        148 and schedule 11 of the Income and Corporation Taxes Act 1988 and no
        such deductions will be made before payment.

5.2     The sum in Clause 4.2.2 will be subject to deductions of tax.

6.      INDEMNITY

6.1     The Executive will promptly and effectively indemnify the Company in
        respect of any income or other tax and employee national insurance
        contributions (except in respect of any tax or employee national
        insurance deductions made by the Company in accordance with this
        Agreement) for which the Company is obliged to account to the Inland
        Revenue or any other agency, and any interest, penalties, or tax which
        may be levied thereon pursuant to Clause 4 and or the provision of any
        of the other benefits to the

                                       3
<PAGE>
        Executive under this Agreement with the exception of any interest
        penalties imposed as a result of fault or delay on the part of the
        Company.

7.      SHARE OPTIONS

7.1     The Executive has been issued with stock options under the Stock Options
        Agreements between the Executive and Serologicals Corporation dated 9
        December 1997, 31 December 1998, 14 September 1999, 31 December 1999, 12
        November 2001 and 15 May 2002. The Executive may exercise the options
        which have vested on or prior to the Termination Date in accordance with
        the rules of the various schemes within the time limits as set out
        below.

<TABLE>
<CAPTION>
                                                     Options Vested but still to
           Grant Date       Option Price (US $)      Exercise                      Time limit for exercising
           ----------       ---------------------    ---------------------------   -------------------------
<S>        <C>              <C>                      <C>                           <C>
           09.12.1997       As adjusted for a 2:1    21,750                        Due to expire 9.12.2003
                            stock split $15.42
                                                     (Original Issue 14,500
                            (Original Price          options)
                            $23.125)

           31.12.1998       $30.00                   50,000                        1 year from the Termination
                                                                                   Date

           14.09.1999       $5.00                    175,000                       1 year from the Termination
                                                                                   Date

           31.12.1999       $6.00                    15,000                        1 year from the Termination
                                                                                   Date

           12.11.2001       $16.71                   4,375                         3 months from the Termination
                                                                                   Date

           15.05.2002       $21.10                   0                             3 months from the Termination
                                                                                   Date
</TABLE>

8.      CONFIDENTIALITY AND POST EMPLOYMENT RESTRICTIONS

8.1     For the purposes of this Clause 8 the following words have the following
        meanings:

8.1.1   "Confidential Information" means all and any information (in whatever
        form and whether recorded or not) which amounts to a trade secret or any
        other confidential or secret information which is not known or
        accessible by the public relating to the business, finances, dealings,
        affairs, technical processes or operations of the Company (or any Group
        Company) or of any of its or their donors, customers, clients,
        suppliers, agents or distributors and includes but is not limited to the
        following:

        (a)     information relating to the Company's or any Group Company's
                donors, customers, clients, suppliers, agents and distributors
                (including, but not limited to, donor, customer or supplier
                lists, individual contacts and contact details);

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<PAGE>
        (b)     information relating to the terms of business agreed or the
                subject of negotiation between the Company or any Group Company
                and its or their actual or prospective customers, clients,
                suppliers, agents and distributors, including, but not limited
                to, trading terms, pricing structures and customer requirements;

        (c)     information relating to the development, manufacture and
                marketing of the Company's services and products (and planned
                services and products) including, but not limited to, business
                plans, technical information, formulae, specifications,
                applications, component lists, know-how, research and
                development, marketing plans, marketing surveys and research
                reports, market share, mailing lists, price lists and discount
                arrangements;

        (d)     information relating to the Company's sales and projects,
                including but not limited to sales and project figures, fee
                levels, pricing policies, commissions, financial projections,
                sales targets, budgets, accounts and forecasts;

        (e)     any information relating to the property of the Company
                including any idea, invention, modification, improvement,
                process, formula, material, knowhow, design, model, prototype,
                mark, sketch, drawing, plan, computer program, computer scripts,
                software, computer systems or other matter; and

8.1.2   "Prior Period" means the period of 12 months prior to the Termination
        Date.

8.2     In consideration for the acknowledgement and agreement by the Executive
        contained in this Clause 8 the Company will pay to the Executive L5,000
        (less appropriate deductions of tax and national insurance) to be paid
        in four equal instalments as follows:

8.2.1   L1,250 within 14 days of the date on which this Agreement (including the
        Certificate attached as Schedule Two) is executed and returned to the
        Company or within 14 days of the Termination Date (whichever if the
        later); and

8.2.2   L1,250 on or before 3 months after the Termination Date;

8.2.3   L1,250 on or before 6 months after the Termination Date;

8.2.4   L1,250 on or before 9 months after the Termination Date.

8.3     The Executive understands and acknowledges that his senior position with
        the Company and the Group has given him:

8.3.1   access to and the benefit of the Confidential Information which is vital
        to the continued success of the Company and the Group;

8.3.2   influence over and connection with the Company's customers, clients,
        suppliers, distributors, agents, employees and directors and those of
        the Group with whom the Executive has had dealings or contact.

8.4     The Executive acknowledges and confirms that he agrees that the
        provisions appearing in Clauses 8.6 and 8.7 below are reasonable in
        their application to him and necessary but no more than sufficient to
        protect the interests of the Company and the Group.

                                       5
<PAGE>
8.5     In the event that any restriction contained in Clauses 8.6 or 8.7 below
        shall be found to be void, but would be valid if some part of the
        relevant restriction were deleted, the relevant restriction shall apply
        with such modifications as may be necessary to make it valid and
        effective.

8.6     The Executive shall not at any time after the Termination Date, for any
        reason use, disclose to any person or cause or permit (whether
        deliberately or recklessly) another to disclose:

8.6.1   any Confidential Information which the Executive has obtained by virtue
        of his employment with the Company; and / or

8.6.2   the details of this Agreement, including, but not limited to, the sums
        paid by the Company pursuant to Clause 4 hereof.

8.6.3   Clause 8.6 shall not apply to Confidential Information disclosed
        pursuant to an order of any Court of competent jurisdiction or which is
        required to be disclosed by statute or any confidential information
        which, except through any breach of this or any other agreement by the
        Executive, is in the public domain. In addition the Executive shall be
        permitted to disclose the matters in Clause 8.6.2 for the purpose of
        taking professional advice or to the members of his immediate family.
        Nothing in this Agreement will prevent the Executive divulging to any
        prospective employer that his employment ended due to the fact that his
        role was relocated to the US.

8.7     The Executive shall not without the prior written consent of the Company
        (such consent to be withheld only so far as may reasonably be necessary
        to protect the legitimate interests of the Company or any Group Company)
        during the period of 9 months from the Termination Date, whether alone
        or jointly with or as principal, partner, agent, director, employee or
        consultant of any other person, firm or corporation, and whether
        directly or indirectly, in competition with any of the businesses of the
        Company or any Group Company carried on at the Termination Date in which
        the Executive was engaged or involved as at the Termination Date or in
        the Prior Period:

8.7.1   solicit the services or custom of or otherwise deal with any person,
        firm or corporation who or which at the Termination Date or at any time
        during the Prior Period was a customer, client, supplier, agent or
        distributor or prospective customer or client of the Company or any
        Group Company in which the Executive was materially involved or was in
        the habit of dealing under contract with the Company or any Group
        Company and with whom or which the Executive was either personally
        concerned, involved or in contact during the Prior Period as identified
        in the attached list in Schedule One.

8.7.2   entice or endeavour to entice away from the Company or any Group Company
        or employ any person whose name is supplied to the Executive on or about
        the Termination Date being persons employed by the Company or any Group
        Company at the Termination Date who:

        (a)     was an employee or director of the Company or any Group Company
                holding the position of supervisor or above; and

        (b)     with whom the Executive was in direct regular contact during the
                Prior Period.

                                       6
<PAGE>
9.      ANNOUNCEMENTS

9.1     Subject to Clause 9.2, the Executive confirms that he will not without
        the prior written consent of the Company make any statements, oral or
        written, touching upon or concerning his relationship with the Company
        or any Group Company, his appointment as a director of the Company or
        any Group Company or his resignation from office which would or might
        involve the disclosure of secret or confidential information about the
        Company or any Group Company as further defined in Clause 8 of this
        Agreement, or which might be detrimental to the interests of the Company
        or any Group Company. Consent for the purposes of this Clause shall be
        effective only if given by the Chief Executive of the Company.

9.2     If the Executive is required to make any such statement to comply with
        his legal and/or regulatory obligations he may do so without the
        Company's written consent and will not be deemed thereby to be in breach
        of this Clause.

9.3     Neither the Executive nor the Company will whether directly or
        indirectly make, publish or otherwise communicate any disparaging or
        derogatory statements, whether in writing or otherwise, concerning the
        other party to this Agreement. In the case of the Company this
        Sub-Clause shall include the Company and any Group Company or any of its
        or their officers, agents or employees.

10.     REFERENCES

10.1    The Company will, on request supply a reference on Company headed
        notepaper in the form attached as Schedule Two to any prospective
        employer of the Executive and deal with all enquiries whether oral or in
        writing in a manner consistent with that reference.

11.     LEGAL ADVICE

11.1    The Executive confirms that he has received advice from J Innes Clark of
        Morton Fraser solicitors (the "Independent Adviser") as to the nature
        and effect of this Agreement and, in particular, its effect on his
        ability to pursue his rights before an Employment Tribunal.

11.2    The Company agrees that subject to this Agreement (including the
        Certificate attached as Schedule Three) being executed and returned to
        the Company that it will pay direct to the Independent Adviser the
        Executive's legal costs incurred in obtaining advice as to the terms of
        this Agreement up to a maximum of L1,750.00 plus VAT on production of an
        appropriate invoice addressed to the Executive and expressed to be
        payable by the Company.

12.     AGREEMENT AND WARRANTY

12.1    The parties confirm and agree that this Agreement satisfies the
        conditions regulating compromise agreements under the Relevant Statutes.

12.2    The Executive having received legal advice from the Independent Adviser
        warrants:

                                       7
<PAGE>
12.2.1  that he has or may have claims against the Company and any Group Company
        and any of its or their officers, agents, or employees of breach of
        contract and or unfair dismissal (the "Identified Claims");

12.2.2  that with the exception of the Identified Claims he has no Statutory
        Claims or other claims whatsoever against the Company and any Group
        Company and any of its or their officers, agents, or employees arising
        under the Service Agreement or in connection with his holding of office
        as a director of the Company and any Group Company or his resignation
        from office as director, or termination of his employment under the
        Service Agreement or otherwise in connection with his employment or its
        termination;

12.2.3  that he accepts the payment to be made in accordance with Clause 4 in
        full and final settlement of:

        (a)     the Identified Claims; and

        (b)     all other claims and rights of action howsoever arising against
                the Company and any Group Company and any of its or their
                officers, agents, or employees which he has, or may have, under
                the Service Agreement or in connection with his holding of
                office as a director of the Company and any Group Company or his
                resignation from office as director, or termination of his
                employment under the Service Agreement or otherwise in
                connection with his employment or its termination including any
                claim in respect of his entitlement to bonus or share options
                but with the exception of any claim in respect of personal
                injury (other than a claim which may be pursued before the
                Employment Tribunal) and or accrued pension rights and or any
                claim in relation to any breach by the Company of cause 7 of
                this Agreement in relation to vested share options as set out in
                that clause and provided that this clause shall not affect the
                Employee's rights to enforce the terms of this Agreement.

12.2.4  that he has been fully compensated in respect of his entitlement to
        receive 9 months notice under the Service Agreement and that the Company
        has no further obligations to him under the Service Agreement;

12.2.5  that he is not aware of any claim for personal injury and or accrued
        pension rights subsisting at the date of this Agreement;

12.2.6  that there are no matters of which he is aware relating to any acts or
        omissions of the Executive or any other director, employee or agent of
        the Company or any Group Company which if disclosed to the Company would
        or might affect the decision of the Company to make payment in
        accordance with Clause 4 or provide any other benefits under this
        Agreement;

12.2.7  that there are no circumstances or matters of which he is aware which
        would entitle the Company to bring any action or proceedings against him
        in relation to his employment with the Company and or the holding of any
        office by him;

12.2.8  that he has not at the date on which he signs this Agreement either
        started other paid work (whether as an employee, independent contractor
        or in any other capacity) or been

                                       8
<PAGE>
        offered such work to start at any time after that date or been given any
        indication that an offer of such work will be forthcoming;

12.2.9  that he has not presented an originating application to an office of the
        Employment Tribunals or issued civil proceedings in the High Court or
        County Court in respect of any claim in connection with his employment
        or its termination or otherwise, and will refrain from doing so;

12.2.10 that he undertakes to repay to the Company the payment in Clause 4.2.1
        immediately upon demand in the event that he commences any action, claim
        or proceedings (with the exception of any claim to enforce his rights
        under this Agreement) in the Employment Tribunal, County Court or High
        Court or any other court against the Company and or any Group Company
        and or any of its or their officers, agents or employees in respect of
        any of the matters which are settled under the terms of Clause 12.2.3.
        The Executive agrees that in such circumstances the payment in Clauses
        4.2.1 will be recoverable as a debt.

13.     NOTICES

        Any notice will be duly served under this Agreement if in the case of
        the Company it is handed to a director of the Company or sent by
        recorded or first class post to the Company at its registered office for
        the time being and if, in the case of the Executive, it is handed to the
        Executive or sent by recorded or first class post to the Executive at
        his address specified in this Agreement or such other address as he may
        notify to the Company. A notice sent by recorded or first class post
        will be deemed served on the second working day after posting.

14.     GOVERNING LAW AND JURISDICTION

        This Agreement shall be governed by Scots law and the parties hereby
        submit to the exclusive jurisdiction of the Scottish Courts. The
        Executive hereby agrees that service upon him at his address specified
        in this Agreement of any proceedings relating to this Agreement or to
        any document entered into pursuant hereto shall constitute good service
        upon the Executive.

15.     BINDING AGREEMENT

        Upon execution of this Agreement by both parties, the Agreement will,
        notwithstanding that it is marked without prejudice and subject to
        contract, be on the open record and shall be binding on both parties.

AS WITNESS the hands of the parties hereto the day and year first before
written.

SIGNED by Alan Brown  )   /s/ Alan Brown

for and on behalf of  )
SEROLOGICALS LIMITED  )
in the presence of:   )              /s/ Gina Keevy.............................

SIGNED by KEITH THOMPSON)            /s/ Keith Thompson.........................
in the presence of: James Clark  )   /s/ James Clark ...........................

                                       9
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                                  SCHEDULE ONE

Ortho Clinical Diagnostics

Immucor

Centocor

Proliant

Sigma

Abbott

Diamed

Eli Lilly

Imclone Systems

Bio-Rad Laboratories

JRH Biosciences

Boehringer Ingelheim

Genentech

Baxter Healthcare

Lonza

Beckman Coulter

Dade Behring

Roche

GlaxoSmithKline

Invitrogen

Institute Jacques Boy

Scottish National Blood Transfusion Service

                                       10
<PAGE>
                                  SCHEDULE TWO

                                    REFERENCE

Keith Thompson was employed by Serologicals Limited from 1 May 1985 until 8
March 2003 as Vice President Global Manufacturing Operations for Serologicals
Corporation, the parent company of Serologicals Limited.

His employment ended due to the fact that his role was relocated to the US.

It is our policy is to provide only the following information regarding former
employees. This does not imply any comment negative or positive about the
employee or the course of his employment with the company. In accordance with
this policy this information is given in the strictest of confidence and without
liability on behalf of the Serologicals Corporation, Serologicals Limited or any
of its officers, agents or employees.

                                       11
<PAGE>
                                 SCHEDULE THREE

                                   CERTIFICATE

I, J Innes Clark, confirm the following:

I am a Relevant Independent Adviser.

I have advised Keith Thompson as to the terms and effect of this Agreement and,
in particular, its effect on his ability to pursue his rights before an
Employment Tribunal.

When I gave the advice there was a contract of insurance, or an indemnity
provided for members of a profession or professional body in force covering the
risk of a claim by Keith Thompson in respect of any loss arising in consequence
of the advice I have given.

This Agreement satisfies the conditions regulating compromise agreements under
the Relevant Statutes.

Signed:    /s/ James Clark
           J Innes Clark

Firm:      Morton Fraser Solicitors
           30-31 Queen Street
           Edinburgh
           EH2 1JX

Date:      4/4/03

                                       12

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