Document:

Retention Agreement dated as of February 2 2005

 Exhibit 10.1 
 RETENTION AGREEMENT 
 This Retention Agreement (this “Agreement”) is executed by
D. JON MCGUIRE (“Employee”), who resides at the address listed at the end of this Agreement, and SRI/SURGICAL EXPRESS, INC. (the “Company”), a Florida corporation with its principal executive office at
12425 Racetrack Road, Tampa, Florida 33626, to record their agreement regarding the continued payment by the Company to Employee of compensation and benefits on the occurrence of certain events. 
 BACKGROUND 
 Employee is a
valuable employee of the Company. To offer employee further assurance, the Company desires to offer Employee the arrangements to be paid severance compensation on his involuntary termination of employment that are set forth in this Agreement. This
Agreement further constitutes added consideration for Employee’s execution of his Non-Competition and Confidentiality Agreement with the Company (the “Non-Competition Agreement”) reconfirms that the Non-Competition Agreement
remains in full force and effect. 
 OPERATIVE TERMS 
 The parties agree as follows: 
 1.
Definitions. As used in this Agreement, the capitalized terms defined below have the respective meanings ascribed to them: 
 “Annual Salary” means the annualized, base salary payable to Employee by the Company as of any particular date, and excludes all other cash and non-cash compensation paid or payable to Employee. 
 “Cause” means a termination of Employee’s employment that is the result of (a) Employee being charged with a felony,
(b) Employee’s disclosure of trade secrets or other confidential information related to the business of the Company or any affiliated companies, or (c) Employee’s action that constitutes misconduct, insubordination, violation of
Company policies, or compromised ethical behavior, or (d) Employee’s action that constitutes willful neglect or willful failure to perform a duty to the Company that continues after notice from the Company. 
 “Disability” means Employee’s incapacity due to physical or mental illness that causes him to be absent from the full time
performance of his duties with the Company for three (3) consecutive months or for four (4) months during any twelve (12) month period. Any question regarding the existence of Employee’s Disability on which Employee and the
Company cannot agree will be determined by a qualified independent physician selected by Company and approved by the Employee (or, if he is unable to select a physician, by any adult member of his immediate family), approval not to be unreasonably
withheld. The determination of the physician made in writing to the Company and to Employee will be final and conclusive for all purposes of this Agreement. 
 “Effective Date” means the date of this Agreement. 

 “Involuntary Termination” means termination of Executive’s employment with the
Company by the Company and for any reason other than for Cause, death, or Disability. 
 “Noncompetition Agreement” means
the Non-Competition and Confidentiality Agreement dated as of April 24, 2003, between the Company and Employee. 
 “Subsidiary” means a corporation of which 80% or more of its voting securities are owned directly or indirectly by the Company. 
 2. Term. This Agreement shall be in effect for a term beginning on the execution date of this Agreement and ending automatically, without further obligation, when Employee ceases to be employed by the
Company for any reason other than an Involuntary Termination. 
 3. Contingent Severance Payment on Involuntary Termination. In
the event of an Involuntary Termination, the Company shall continue to pay Employee at the rate of his Annual Salary in accordance with the Company’s standard payroll procedures for 180 calendar days after the date of the Involuntary
Termination and furnish Employee health and dental insurance benefits. Employee’s right to the foregoing compensation will be conditioned on (a) Employee’s continuing to be available to the Company in person or by telephone, as
reasonably required by the Company, to assist with any post-termination transition for up to 30 days following the termination date, but for no more than four hours during any week without added compensation, (b) Employee’s execution of a
release in favor of the Company in a form satisfactory to the Company and its counsel, which generally and unconditionally releases from all claims the Company and its directors, officers, and other affiliates, and (c) Employee’s
continuing compliance with the Non-Competition Agreement. The Company will not have any obligation to Employee in connection with his termination of employment in the absence of an Involuntary Termination or otherwise than as stated above.

 4. Employment Status. This Agreement does not constitute an employment agreement between the Company and Employee, but
rather provides for the payment of severance compensation to Employee on the termination of his employment with the Company under the conditions described in this Agreement. This Agreement does not guarantee the continued employment of Employee by
the Company or the payment of any other amount of compensation. 
 5. Employee Acknowledgements Concerning Non-Competition
Agreement. Employee reconfirms his obligations and covenants set forth in the Non-Competition Agreement. Employee acknowledges that as added consideration for his execution of the Non-Competition Agreement, the Company has granted to
Employee the potential for severance compensation provided by this Agreement. 
 6. Legal Matters. The validity, construction,
enforcement, and interpretation of this Agreement are governed by the laws of the State of Florida and the United States of America, excluding the laws of those jurisdictions pertaining to the resolution of conflicts with laws of other
jurisdictions. Employee and the Company (a) consent to the personal jurisdiction of the state and federal courts having jurisdiction over Hillsborough County, Florida, (b) stipulate that the proper, exclusive, and convenient venue for any
legal proceeding arising out of this Agreement is Hillsborough County, Florida, and (c) waive any defense, whether asserted by a motion or 

  

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pleading, that Hillsborough County, Florida, is an improper or inconvenient venue. EMPLOYEE KNOWINGLY, VOLUNTARILY, AND INTENTIONALLY WAIVES THE RIGHT TO A
JURY TRIAL IN ANY LAWSUIT BETWEEN EMPLOYEE AND THE COMPANY WITH RESPECT TO THIS AGREEMENT. 
 7. Notices. Every notice, demand,
or consent required or permitted under this Agreement will be valid only if it is in writing and delivered personally or by telex, telecopy, telegram, cablegram, commercial courier, or first-class, postage prepaid, United States mail (whether or not
certified or registered and regardless of whether a return receipt is requested or received by the sender), and addressed by the sender to the intended recipient at the address set forth in the preamble of this Agreement or to such other address as
the intended recipient has previously designated to the sender by notice given in accordance with this section. A validly given notice, demand, or consent will be effective on the earlier of its receipt, if delivered personally or by telex,
telecopy, telegram, cablegram, or commercial courier, or the third day after it is postmarked by the United States Postal Service, if delivered by first class, postage prepaid, United States mail. Each party shall notify the other of any change in
its or his mailing address that is listed in this Agreement. 
 8. Miscellaneous. A waiver, amendment, cancellation, or
modification of this Agreement will be valid and effective only if it is in writing and signed by or on behalf of both parties to this Agreement. This Agreement records the final, complete, and exclusive understanding between the parties regarding
the subject matter of it and supersedes any prior or contemporaneous agreement, understanding, or representation, oral or written, by either of them. In particular, this Agreement cancels and supersedes any previous agreement between Employee and
the Company that provides for severance compensation to Employee. Nothing in this Agreement, whether express or implied, is intended or should be construed to confer upon, or to grant to, any person, except the Company, Employee and their respective
heirs, assignees, and successors, any claim, right, remedy, or privilege under, or because of, this Agreement or any provision of it. This Agreement is binding on every assignee and successor of the Company. The parties may execute this Agreement in
counterparts. Each executed counterpart will constitute an original document, and all executed counterparts, together, will constitute the same agreement. This Agreement will become effective, as of its stated date of execution, when each party has
executed and delivered to the other party a counterpart of it. 
 (signature page follows) 
  

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 EXECUTED: As of February 2, 2005, in Tampa, Florida 
  

			
	“COMPANY”
	
	 SRI/SURGICAL EXPRESS, INC.,
 a Florida
corporation

		
	By:	 	 /s/ Christopher Carlton

	Name:	 	Christopher Carlton
	Title:	 	President and Chief Executive Officer
	
	“EMPLOYEE”
	
	 /s/ D. JON MCGUIRE

	D. JON MCGUIRE

			
		
	Address:	 	  

		 	  

  

 4Separation Agreement dated as of February 5 2007

 Exhibit 10.2 
 SEPARATION AGREEMENT 
 This is a SEPARATION AGREEMENT (the “Agreement”)
between CHRISTOPHER CARLTON (“Carlton”), a Florida resident, and SRI/SURGICAL EXPRESS, INC. (the “Company”), a Florida corporation. 
 Background 
 Carlton is resigning from the Company’s Board of Directors and his positions
as President and Chief Executive Officer of the Company. This Agreement provides for the Company to provide specified severance benefits to Carlton as part of his resignation from the Company. 
 Operative Terms 
 Carlton and the Company agree as follows: 

1. Resignation; Separation Compensation. Carlton resigns from the Company’s Board of Directors and his positions as President and
Chief Executive Officer of the Company, effective February 5, 2007 (the “Termination Date”). Through the first anniversary of this Agreement, the Company shall continue to pay to Carlton his base salary, at Carlton’s base
salary level in effect on the date of this Agreement. These salary continuation payments shall be made on the Company’s regular pay days. Carlton shall receive, in full satisfaction of any other rights he may have, a lump sum payment of $36,000
to be added to the first salary continuation payment. The foregoing payments will be subject to applicable tax withholding and other deductions. The Company shall also pay any outstanding expense reimbursements that it owes, in accordance with its
expense reimbursement policy. 
 2. Benefits. Through the first anniversary of this Agreement, the Company shall fund
Carlton’s continued participation in the Company’s group medical and dental programs pursuant the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA). Carlton is responsible for making an effective election to continue coverage
under the group medical and dental programs, in accordance with COBRA, and Carlton understands that if he fails to do so, his coverage will terminate; however, a failure by Carlton to elect COBRA coverage will not constitute a breach of this
Agreement. Carlton acknowledges that he owns the stock and option rights set forth in Schedule B, that he does not own any other equity or option rights with respect to the Company, that his unvested stock options have expired, that he has 90 days
from the Termination Date within which to exercise vested options, and that any vested options not so exercised will expire 90 days after the Termination Date. As of the date of this Agreement, Carlton will no longer be eligible to participate in
any other benefit programs offered to employees by the Company, including without limitation vacation, 401(k) plan, short-term and long-term disability, travel and accident, and independent life insurance programs. The Company will match dollar for
dollar Carlton’s expenditures for outplacement services, up to a limit of $2,500 total incurred by the Company. 
 3. Benefits of
the Agreement. Carlton acknowledges that he would not be entitled to the severance benefits described in Sections 1 and 2 of this Agreement in the absence of his signing this Agreement. All of these severance benefits are conditioned on
Carlton’s performance of all of his obligations under this Agreement and the obligations and covenants of the Employment Agreement incorporated into this Agreement by Section 5 of this Agreement. 
  

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 4. Carlton’s Full General Release of Claims against the Company. Carlton, for
himself and for his heirs, successors, and assigns, irrevocably and unconditionally releases and forever discharges the Company, its subsidiaries and affiliates, and all of their successors, assigns, officers, directors, representatives, agents,
employees, associates and all other persons acting for or on behalf of them, from all claims, complaints, liabilities, agreements (other than pursuant to this Agreement), damages, costs, debts, and expenses of any kind, whether known or unknown,
including all claims in connection with Carlton’s employment with the Company, including without limitation, any claim for continued or future employment or for payment of wages or salary, or any other payment, pursuant to any agreement,
whether written or unwritten, or arising out of any employment relationship with the Company. Without limitation, Carlton releases and waives all claims under Title VII of the Civil Rights Act of 1964, as amended (42 U.S. C. § 2000e, et
seq.); the Civil Rights Acts of 1866, 1871 and 1991, all as amended; 42 U.S.C. § 1981; the Family and Medical Leave Act of 1993, as amended (29 U.S.C. § 2601, et seq.); the Americans With Disabilities Act, as amended (42 U.S.C.
§ 12101, et seq.); the Rehabilitation Act of 1973, as amended (29 U.S.C. § 793-94); the Fair Labor Standards Act, as amended (29 U.S.C. § 201, et. seq.); the Equal Pay Act of 1963, as amended (29 U.S.C. § 206); the
Employee Retirement Income Security Act, as amended (29 U.S.C. § 1001, et seq.); the Consolidated Omnibus Budget Reconciliation Act of 1985 (29 U.S.C. § 1161, et seq.); the Age Discrimination in Employment Act (29 U.S.C.
§ 621 et seq.); the Older Workers Benefit Protection Act of 1990 (29 U.S.C. § 623); Chapter 760 of the Florida Civil Rights Act of 1992, as amended; the Florida General Labor Regulations, as amended; and any similar local ordinance;
workers’ compensation statutes; and any other applicable federal, state or local statute, rule, regulation or ordinance relating to discriminatory hiring or employment practices or civil rights laws based on protected class status; common law
claims, including claims of intentional or negligent infliction of emotional distress, negligent hiring, breach of a covenant of good faith and fair dealing, promissory estoppel, negligence or wrongful termination of employment; and all other claims
of any kind, including but not limited to any claims for attorneys’ fees. 
 5. Confidentiality and Other Obligations.
Carlton agrees that he will not, at any time, use for any reason or in any manner any of the Company’s trade secrets or other confidential information relating to the Company’s business or financial affairs, including the name of any
customer or supplier or the business plans, methods, processes, and operating procedures of the Company, and reconfirms his obligations and covenants set forth in Sections 5, 6 and 7 of the Employment Agreement, which obligations and covenants are
incorporated herein by reference. The Company confirms that the “blackout period” governing sales of stock by Carlton will expire three days following its filing of its Form 10-K for its fiscal year 2006. 
 6. Cooperation. As reasonably requested by the Company, Carlton shall cooperate and consult with the Company in connection with its pending
litigation and other legal proceedings, as well as any transition of projects. Carlton shall not receive any more compensation for this cooperation and consulting, but the Company shall pay reasonable out-of-pocket expenses that it approves in
advance. Carlton will refer to the Company (and not personally make any comment in response to) any press inquiries regarding the circumstances of his resignation. Except for the press release issued on the Termination Date, the Form 8-K filed with
the Securities and Exchange Commission on the Termination Date, and other disclosures required by its disclosure obligations under applicable law, the Company shall not make any public announcements referencing Carlton. The Company shall provide
Carlton with a “neutral” reference that addresses his last position with the Company, his tenure with the Company, and his last salary. Carlton may retain his laptop computer, provided that he eliminates all material on the computer
relating to the Company. He may also retain his Blackberry hand held device, provided that he assumes responsibility for charges that are incurred after the Termination Date. 
 7. Carlton’s Review of this Agreement; Legal Counsel. Carlton acknowledges that he has read each section of this Agreement and
understands his rights and obligations. Carlton has had an opportunity to consult with his attorney before signing this Agreement and confirms that his signature on this Agreement is knowing and voluntary. The Company shall reimburse Carlton for up
to $2,000 of out of pocket legal fees that Carlton incurs to pay for review of this Agreement. Carlton has been given 21 days within which to consider this Agreement. Each party to this Agreement acknowledges that Zinober & McCrea, P.A.
acted as counsel to the Company in this transaction. 
  

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 8. Costs and Expenses with Respect to this Agreement. Carlton and the Company shall bear
their own costs and expenses expended in connection with this Agreement. 
 9. Complete Agreement. This Agreement
(including the obligations and covenants of the Employment Agreement incorporated into this Agreement by Section 5 of this Agreement) records the final, complete and exclusive understanding between the parties with respect to the transactions
described in it and supersedes any prior or contemporaneous agreement, understanding or representation, oral or written, by any of them. 
 10. Execution and Effective Date. The parties may execute this Agreement in counterparts. Each executed counterpart will be considered an original document and all executed counterparts, together, will constitute the same
Agreement. Carlton may revoke this Agreement for a period of seven days following its execution (the “Revocation Period”). This Agreement shall not become effective or enforceable until the Revocation Period has expired. Unless Carlton
revokes this Agreement during the Revocation Period, upon expiration of the Revocation Period, this Agreement shall become effective and enforceable. 
 11. Amendment and Assignment. An amendment or modification of this Agreement or any provision of it will be valid and effective only if it is in writing and signed by each party to this Agreement. This
Agreement is not assignable by either party without the prior written consent of the other party, and any attempted assignment by either party without the prior written consent of the other party will be invalid and unenforceable. 
 12. Legal Proceedings; Governing Law. Each party to this Agreement (a) consents to the personal jurisdiction of the state and federal
courts having jurisdiction in Hillsborough County, Florida (b) stipulates that the proper, exclusive, and convenient venue for any legal proceeding arising out of this Agreement is Hillsborough County, Florida, for state court proceedings, and
(c) waives any defense, whether asserted by a motion or pleading, that Hillsborough County, Florida, or the Middle District of Florida, Tampa Division, is an improper or inconvenient venue. CARLTON KNOWINGLY, VOLUNTARILY, AND INTENTIONALLY
WAIVES THE RIGHT TO A JURY TRIAL IN ANY LAWSUIT BETWEEN CARLTON AND THE COMPANY WITH RESPECT TO THIS AGREEMENT. 
 In any mediation or
litigation (including appellate proceedings) arising out of this Agreement, the losing party shall reimburse the prevailing party, on demand, for all costs and expenses (including legal fees, costs, and expenses) that are incurred by the prevailing
party as a result of the mediation or litigation. The laws of the State of Florida and the federal laws of the United States of America, excluding the laws of those jurisdictions pertaining to the resolution of conflicts with laws of other
jurisdictions, govern the validity, construction, enforcement, and interpretation of this Agreement. 
 13. Notices. Unless
this Agreement expressly permits it to be given orally, every demand, notice, consent, or approval required or permitted to be given by a party under this Agreement will be valid only if it is (a) in writing (whether or not the applicable
provision of this Agreement states that it must be in writing), (b) delivered personally or by telecopy, commercial courier, or first class, postage prepaid, United States mail (whether or not certified or registered and regardless of whether a
return receipt is requested or received by the sender), and (c) addressed by the sender to the intended recipient as follows: 
  

	 	(a)	If to the Company: 

  

	 	  	SRI/Surgical Express, Inc. 

	 	  	12425 Racetrack Road 

	 	  	Tampa, Florida 33626 

	 	  	Attention: Wally Ruiz 

  

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	 	  	with a copy to: 

  

	 	  	Zinober & McCrea, P.A. 

	 	  	201 East Kennedy Boulevard 

	 	  	Suite 800 

	 	  	Tampa, Florida 33602 

	 	  	Attention: Peter W. Zinober 

  

	 	(b)	If to Christopher Carlton: 

  

	 	  	Christopher Carlton 

	 	  	9241 Silverthorn Road 

	 	  	Largo, Florida 33777 

 or to such other address as the intended recipient
may designate by notice given to every other party to this Agreement in the manner provided in this Section. A validly given demand, notice, consent, or approval will be effective on the earlier of its receipt by personal delivery or by telecopy or
commercial courier. Each party to this Agreement shall promptly notify every other party of any change in its mailing address. 
 EXECUTED: As of
February 5, 2007. 
  

			
	SRI/SURGICAL EXPRESS, INC.,
	a Florida corporation
		
	By:	 	 /s/ N. John Simmons, Jr.

	Name:	 	N. John Simmons, Jr.
	Title:	 	Chairman
	
	 /s/ CHRISTOPHER CARLTON

	CHRISTOPHER CARLTON, individually

  

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 Schedule B 
  

										
	 Grant Date
	  	Plan	  	Grant Type	  	Option
Price	  	Exercisable
	 12/1/04
	  	1998 Plan	  	Incentive
Stock Option	  	$	5.31	  	37,664
	 12/1/04
	  	1998 Plan	  	Non-Qualified
Stock Option	  	$	5.31	  	2,336

 Exercise of the foregoing options is subject to the terms of the Company’s 1998 Stock Option Plan, as
amended, and the Stock Option Agreement dated December 1, 2004, between the Company and Carlton. Carlton acknowledges that these options will not be exercisable after 90 days following the Termination Date. All other stock options are
forfeited. 
  

							
	 Grant Date
	  	Plan	  	Grant Type	  	Vested and
Owned
	 1/17/06
	  	2004 Plan	  	Restricted Stock	  	7,000

 All other restricted stock grants are unvested and forfeited.

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