Document:

English Translation of Severance Agreement

 Exhibit 10.1 
 Regione Lombardia 
 PROCEDURE FOR THE DECLARATION OF MOBILITY 
 Articles 4 and 24 of Law no. 223/91 
 MINUTES OF
A JOINT REVIEW AT A PUBLIC VENUE 
 This 13th
 day of May 2009, at 2:30 p.m., at the offices of the Agenzia Regionale per l’Istruzione, la Formazione e il Lavoro della Lombardia (Lombardy’s Regional Agency for
Education, Training and Employment), in the presence of Mr. Carlo Alberto Balzarini, in his capacity as representative of Regione Lombardia, the following parties met: 
  

			
	For CELL THERAPEUTICS INC	  	Christina Waters and Luca Morelli
	For Assolombarda	  	Stefania Cerioni
	For FILCEM CGIL	  	Giancarlo Lombardo
	For the RSU (Works Council)	  	Paolo Pavesi, Paola Nicoli, and Rosanna Cavagnoli

 WHEREAS 
  

	 	 •
	 	 On 27th February
2009, Assolombarda, on behalf of Cell Therapeutics Inc., started the procedure under Articles 4 and 24 of Law no. 223/91 for the collective dismissal of all of the 56 employees working at the production site of Bresso (Milan);

  

	 	•	 	 Such procedure was necessary for the reasons explained in the notice of commencement of said procedure; 

  

	 	•	 	 During the course of the meetings with the Trade Unions no agreement was reached; 

  

	 	 •
	 	 On 14th April 2009,
Assolombarda, on behalf of the Company, gave to the Regional Agency for Education, Training, and Employment notice of the failure to reach an agreement; and 

  

	 	•	 	 The Regional Agency for Education, Training, and Employment has convened the parties today 

 NOW, THEREFORE, 
 The Company’s representative summarises the reasons that led the Company to start the procedure on 27th
February 2009. 
 The Company’s representative declares that, on today’s date, an agreement has been executed, which is attached hereto and forms
an integral part hereof, whereby the parties have agreed as follows: 
  

	 	 •
	 	 To implement the procedura di mobilità involving a maximum of 56 employees; the agreement sets out the
criteria of selection of the personnel to be involved in the procedure and defines the departure from Art. 8, paragraph 4, of Law no. 236/93, fixing 17th May 2010 as the deadline; 

  

	 	 •
	 	 To implement the CIGS procedure due to company’s crisis arising from the total closing down of business, pursuant
to Art. 1 of Law no. 223/91 and Art. 2 of Ministerial Decree no. 31826/02, involving a maximum of 56 employees, effective from 18th May 2009, for a
term of 12 months, with the implementation of a plan to handle redundancies; and 

  

	 	•	 	 To exclude rotation with regard to the employees involved in the CIGS procedure. 

 The Company shall advance the CIGS compensation at the ordinary due dates. 
 The representative of the Trade Unions and the RSU (Works Council) confirm the above and agree to consider the
procedure started by Cell Therapeutics Inc. on 27th February 2009 as successfully carried out and completed, and declare that they have completed,
with the execution of these minutes, the consultation procedure for the purpose of implementing the CIGS procedure due to company’s crisis arising from the total closing down of business, pursuant to Art. 1 of Law no. 223/91 and Art. 2 of
Ministerial Decree no. 31826/02, with regard to a maximum of 56 employees, effective from 18th May 2009, for a term of 12 months. 
 After having heard the parties and having acknowledged the agreement dated 13th May 2009, the representative of
Regione Lombardia declares the procedure started by Cell Therapeutics on 27th February 2009 duly carried out and successfully completed and, at the
same time, declares the joint review under Art. 5 of Law no. 164/75 and Art. 2 of Presidential Decree no. 218 of 10th June 2000, duly carried out
and 

 
successfully completed, which review was aimed at requesting the implementation of the CIGS procedure due to company’s crisis arising from the total
closing down of business, pursuant to Art. 1 of Law no. 223/91 and Art. 2 of Ministerial Decree no. 31826/02, with regard to a maximum of 56 employees, effective from 18th May 2009, for a term of 12 months. 
 Read, confirmed, and executed. 
  

	
	CELL THERAPEUTICS, INC.
	
	 /s/ Christina Ann Waters

	Christina Ann Waters
	 President, Cell Therapeutics Europe (CTE)

	
	 /s/ Luca Morelli

	Luca Morelli
	Legal Representative
	
	ASSOLOMBARDA
	
	 /s/ Stefania Cerioni

	Stefania Cerioni
	 CTI Bresso Employee and
 CTI’s Union Representative

	
	FILCEM CGIL
	
	 /s/ Giancarlo Lombardo

	Giancarlo Lombardo
	Head of Non-Manager Union
	
	RSU (WORKS COUNCIL)
	
	 /s/ Paolo Pavesi

	Paolo Pavesi
	 CTI Bresso Employee and
 Employee Representative to Union

	
	 /s/ Paola Nicoli

	Paola Nicoli
	 CTI Bresso Employee and
 Employee Representative to Union

	
	 /s/ Rosanna Cavagnoli

	Rosanna Cavagnoli
	 CTI Bresso Employee and
 Employee Representative to Union

	
	REGIONE LOMBARDIA
	
	 /s/ Carlo Alberto Balzarini

	Carlo Alberto Balzarini
	Representative of Regione Lombardia

 This 13th
 day of May 2009, in Milan, 
 Between CELL THERAPEUTICS INC, represented by: 
 CHRISTINA WATERS and LUCA MORELLI 
 and FILCEM-CGIL, represented by Mr.

 GIANCARLO LOMBARDO 
 with the participation of the RSU (Works
Council) 
 Whereas 
  

	 	 •
	 	 On 27th February
2009, the Company started, through Assolombarda, the procedure under Articles 4 and 24 of Law no. 223/91 for the collective dismissal of all of the 56 employees working at the Bresso branch due to the definitive and total closing down of the
business; 

  

	 	•	 	 During the meetings held between the Parties, in compliance with the provisions set forth in Art. 4, paragraph 5, of Law no. 223/1991, the reasons for such measure
were thoroughly examined, as detailed in the notice of commencement of the procedure, the content of which must be deemed as if entirely transcribed herein; 

  

	 	•	 	 In such context, the Parties examined the advisability of implementing the CIGS procedure (among other reasons) to facilitate the start-up, if any, of a business to
safeguard the company activities and consequently offer re-employment opportunities; 

  

	 	•	 	 Today the Parties have signed an agreement concerning the management of the employees declared redundant 

 Now, therefore, the Parties hereby agree as follows: 
  

	 	1.	The recitals form an essential and integral part of this agreement. 

  

	 	2.	The employees involved in the procedura di mobilità, who accept the termination of their employment relationships, shall be paid, as an incentive to termination, an
amount equal to 6 monthly instalments of the applicable gross CIGS ceiling. 

  

	 	3.	The employees resigning during the CIGS period without having achieved the prerequisites for retirement will be paid, as an incentive to termination, an amount equal to 12 monthly
instalments of the applicable gross CIGS ceiling, together with the indemnity in lieu of notice. 

  

	 	 4.
	 The amount referred to under point 2 above shall be increased by 3 additional monthly instalments of the applicable
gross CIGS ceiling if, on 31st July 2009, the conditions for the continuation of the business activity suitable to permit the re-employment of the
redundant personnel, through the raising of funds and the set-up of a suitable corporate vehicle, are not fulfilled. 

  

	 	5.	The amounts provided for hereunder shall be paid against the employees’ waiver of their right to challenge the dismissal and any other claims deriving, directly and/or
indirectly, from their employment relationships and their termination, exclusively after the execution of ad hoc individual verbali di conciliazione (settlement agreements) with the Trade Unions pursuant to articles 411 et seq.
of the Italian Code of Civil Procedure and article 2113 of the Italian Civil Code. The aforesaid amount shall be paid together with the termination indemnities and the TFR (severance pay) within 30 days from the date of termination of employment.

  

	 	6.	The Company shall advance the statutory amounts due from the INPS to the employees involved in the CIGS procedure, on the ordinary pay dates. 

	 	7.	The Company shall inform the RSU (Works Council) of the plan of employment of the employees in the CIGS period, during the course of the business closing down operations.

  

	 	8.	A member of the RSU, as the active party to the aforesaid working processes, will be in attendance during the course of the operations relating to the closing down of the business
connected with the laboratories, involving the employees. 

  

	 	9.	Upon the express request of any of the employees involved, the Company shall pay, as a personal loan bearing no interest, a net monthly amount equal to 600.00 Euros for a maximum
term of 10 months. Upon payment of the termination indemnities, the aforesaid amounts shall be deducted from the net amounts due to the employee. 

 Read, confirmed, and executed. 
  

	
	CELL THERAPEUTICS, INC.
	
	/s/ Christina Ann Waters
	Christina Ann Waters
	 President, Cell Therapeutics
 Europe
(CTE)

	
	/s/ Luca Morelli
	Luca Morelli
	Legal Representative

  

	
	FILCEM CGIL
	
	/s/ Giancarlo Lombardo
	Giancarlo Lombardo
	Head of Non-Manager Union

  

	
	RSU (WORKS COUNCIL)
	
	/s/ Paolo Pavesi
	Paolo Pavesi
	CTI Bresso Employee and Employee Representative to Union
	
	/s/ Paola Nicoli
	Paola Nicoli
	CTI Bresso Employee and Employee Representative to Union
	
	/s/ Rosanna Cavagnoli
	Rosanna Cavagnoli
	CTI Bresso Employee and Employee Representative to Union

 AGREEMENT 
 This 13th day
of May 2009, 
 Between CELL THERAPEUTICS INC, represented by CHRISTINA WATERS and LUCA MORELLI, assisted by Assolombarda, represented by STEFANIA CERIONI

 and FILCEM-CGIL, represented by Mr. 
 GIANCARLO LOMBARDO

 with the participation of the RSU (Works Council) 
 Whereas 
  

	 	 •
	 	 On 27th February
2009, the Company started, through Assolombarda, the procedure under Articles 4 and 24 of Law no. 223/91 for the collective dismissal of all of the 56 employees working at the Bresso branch due to the definitive and total closing down of the
business; 

  

	 	•	 	 During the meetings held between the Parties, in compliance with the provisions set forth in Art. 4, paragraph 5, of Law no. 223/1991, the reasons for such measure
were thoroughly examined, as detailed in the notice of commencement of the procedure, the content of which must be deemed as if entirely transcribed herein; 

  

	 	•	 	 In such context, the Parties examined the advisability of implementing the CIGS procedure (among other reasons) to facilitate the start-up, if any, of a business to
safeguard the company activities and consequently offer re-employment opportunities 

 Now, therefore, the Parties hereby agree as
follows: 
  

	 	1.	The recitals form an essential and integral part of this agreement. 

  

	 	2.	The closing down of the business referred to in the recitals will result in all the employees of the Bresso branch being redundant and, as a consequence, the Company will place 56
employees in mobility. 

  

	 	 3.
	 In order to facilitate the procedure referred to in the recitals, and as an alternative to the immediate implementation
of the mobility plan referred to in the company notice dated 27th February 2009, the Parties hereby agree to implement the CIGS procedure due to the
closing down of the business, pursuant to Ministerial Decree dated 18th December 2002, effective from 18th May 2009, for a total of 12 months. The 56 employees will be suspended based on the technical and organisational needs connected with the closing down of the business and the
necessary consequent interventions. For the grounds connected with the reasons for implementing the CIGS procedure, as detailed herein, the Parties acknowledge that there do not exist the conditions for the rotation of the personnel involved in the
suspension, it being a closing down of business. 

 During the aforesaid period, the Company will implement a plan to deal
with the redundant personnel, which will be aimed at reducing the number of redundancies, through the following means: 
 a) Retirements;

 b) Dismissals agreed upon and encouraged through the payment of incentives in the amount and at the conditions set out in a separate
agreement to be executed on the same date; 
 c) Placement in mobility, effective from
18th May 2009, for the 12 months’ term of the CIGS procedure, with regard to those employees who will not oppose their dismissal and with
regard to those who will meet the retirement requisites during the term of their being placed in mobility. In this respect, the Parties therefore intend to postpone to 17th May 2010 the time frame of 120 days under Art. 8, paragraph IV, of Law No. 236/93; 
 d) Outplacement through
the Province of Milan pursuant to Law no. 266/2005 without charges to be borne by the Company. 

	 	4.	In the month of September 2009, a meeting will be held to check the progress of the divestment process and the relevant employment effects. 

  

	 	5.	At the end of the 12 months’ term of the CIGS procedure, subject to the fulfilment of the ordinary formalities, the Company will place in mobility the remaining redundant
employees, if any, as a result of the total divestment of the Bresso branch. The Parties hereby mutually acknowledge that these employees will receive compensation in the amount and at the conditions set out in a separate agreement to be executed on
the same date. 

 The Parties hereby mutually acknowledge that in the relevant institutional venues they will carry out and complete the
statutory procedures (mobility and CIGS) for the purpose of implementing this agreement. 
 Read, confirmed, and executed. 
  

	
	CELL THERAPEUTICS, INC.
	
	/s/ Christina Ann Waters
	Christina Ann Waters
	 President, Cell Therapeutics
 Europe
(CTE)

	
	/s/ Luca Morelli
	Luca Morelli
	Legal Representative

  

	
	ASSOLOMBARDA
	
	/s/ Stefania Cerioni
	Stefania Cerioni
	CTI Bresso Employee and CTI’s Union Representative

  

	
	FILCEM CGIL
	
	/s/ Giancarlo Lombardo
	Giancarlo Lombardo
	Head of Non-Manager Union

  

	
	RSU (WORKS COUNCIL)
	
	/s/ Paolo Pavesi
	Paolo Pavesi
	 CTI Bresso Employee and
 Employee Representative to
Union

	
	/s/ Paola Nicoli
	Paola Nicoli
	 CTI Bresso Employee and
 Employee Representative to
Union

	
	/s/ Rosanna Cavagnoli
	Rosanna Cavagnoli
	 CTI Bresso Employee and
 Employee Representative to
UnionShareholder Value Plan

 Exhibit 10.6 
 *** Certain portions of this Exhibit have been omitted based upon a request for confidential treatment pursuant to 24b-2 of the Securities Exchange Act of 1934, as amended. The omitted portions have been filed separately with the
Securities Exchange Commission. 
 PSS WORLD MEDICAL, INC. 
 2009-2011 SHAREHOLDER VALUE PLAN 
 ARTICLE 1 
 ESTABLISHMENT OF PLAN 
 1.1
Background of Plan. The Shareholder Value Plan is a sub-plan of the PSS World Medical, Inc. 2006 Incentive Plan (the “Plan”), consisting of a program for the grant of performance awards under Article 9 of the Plan. The Shareholder
Value Plan has been established and approved, and will be administered by, the Compensation Committee pursuant to the terms of the Plan. To the extent applicable, it is intended that Awards under the Shareholder Value Plan shall be fully deductible
by the Company without regard to the limitations of Section 162(m) of the Internal Revenue Code. The Effective Date of the Shareholder Value Plan is March 29, 2008. 
 1.2 Purpose. The purpose of the Shareholder Value Plan is to increase participants’ economic interest in the long-term success of the
Company, to encourage participants to continue employment with the Company, and to reward participants for achieving long-term goals. The Shareholder Value Plan is intended to provide an incentive to executives of the Company and/or its Subsidiaries
to accelerate the creation of shareholder value through the achievement of the financial performance goals outlined in the Company’s three-year strategic plan (the “Strategic Plan”). 
 ARTICLE 2 
 ADMINISTRATION

 2.1 Committee. The Shareholder Value Plan shall be administered by the Compensation Committee of the Board of Directors of the
Company. 
 2.2 Authority of Committee. The Committee has the exclusive power, authority and discretion to: (a) designate
participants; (b) reduce, or if permissible under applicable law increase, any SVP Award, regardless of the achievement of designated Performance Goals; (c) establish, adopt or revise any rules and regulations as it may deem
necessary or advisable to administer the Shareholder Value Plan; (d) make all other decisions and determinations that may be required under the Shareholder Value Plan or as the Committee deems necessary or advisable to administer the
Shareholder Value Plan; and (e) amend the Shareholder Value Plan as provided herein. 
 2.3. Decisions Binding. The
Committee’s interpretation of the Shareholder Value Plan and all decisions and determinations by the Committee with respect to the Shareholder Value Plan are final, binding, and conclusive on all parties. 
 ARTICLE 3 
 ELIGIBILITY

 3.1. General. Participation in the Shareholder Value Plan is limited to officers of the Company or any Subsidiary as
shall be selected to participate in the Shareholder Value Plan by the Committee. 
  

 - 1 - 

 3.2. Partial Term Participation. When employees are chosen for participation in the Shareholder
Value Plan during the Performance Period or become eligible for participation in a different long-term incentive program, their SVP Award amounts shall be prorated, based on the number of full months they participated in the Shareholder Value Plan
during the applicable Performance Period. 
 3.3. Promotions, Demotions and Certain Position Changes. 
  

	 	(a)	If a participant is promoted during a Performance Period the Committee shall have the discretion to determine whether the original Award Factor in place at the beginning of the
Performance Period shall be used or whether a different Award Factor shall be used. 

  

	 	(b)	If a participant is demoted during a Performance Period or requests a move to a position not eligible for participation in the Shareholder Value Plan, the Committee will determine
whether the participant shall end participation in the Shareholder Value Plan at that time, or shall continue as a participant, perhaps at a reduced level. If participation ends, any SVP Award earned during the time of participation will be prorated
for the Performance Period, and will be paid only if the participant is still an employee at the time SVP Awards are paid. Any such proration shall be based on the number of full months the participant participated in the Shareholder Value Plan
during the applicable Performance Period. 

 ARTICLE 4 
 DEFINITIONS 
 4.1 Definitions. Capitalized terms used herein and not
otherwise defined shall have the meanings assigned such terms in the Plan. In addition, the following terms shall have the following meanings for purposes of the Shareholder Value Plan: 
  

	 	(a)	“Adjusted EPS” means diluted earnings per common share as determined under Generally Accepted Accounting Principles (GAAP) as reported in the Company’s financial
statements, except that it will exclude the negative effect of all nonrecurring charges, extraordinary items, discontinued operations, and cumulative effects of accounting changes, unless the Committee in its sole discretion determines otherwise.

  

	 	(b)	“Beginning Base Salary” means a participant’s annual base salary, excluding bonus and other compensation, as in effect at the beginning of a Performance Period (or
such later time as the person first becomes a participant in the Shareholder Value Plan). 

  

	 	(c)	“Cumulative Adjusted EPS” means cumulative Adjusted EPS over a Performance Period. 

  

	 	(d)	“Payout Matrix” means a matrix adopted by the Committee with respect to a Performance Period equating a cash SVP Award to the attainment of Performance Goals. The Payout
Matrix for the current 36-month Performance Period is set forth on Exhibit B hereto. 

  

	 	(e)	“Performance Goals” are goals established by the Committee with respect to a Performance Period that determine whether and to what extent an SVP Award is earned for such
Performance Period. Performance Goals shall be determined solely on the basis of, and in accordance with, one of the Qualified Business Criteria specified in Section 11.2 of the Plan. The Performance Goals for the current 36-month Performance
Period are based on Cumulative Adjusted EPS as set forth on Exhibit A hereto. 

  

 - 2 - 

	 	(f)	“Performance Period” means a period established by the Committee from time to time over which performance will be measured to determine the payout of SVP Awards. The
current Performance Period under the Shareholder Value Plan is the 36-month period beginning on March 29, 2008 and ending on April 1, 2011. The Committee may determine and declare subsequent Performance Periods from time to time.
Performance Periods may, but need not, overlap. 

  

	 	(g)	“Prorated Cumulative Adjusted EPS” has the meaning set forth in Section 5.8. 

  

	 	(g)	“SVP Award” means a cash award payable to a participant in the Shareholder Value Plan based on the achievement of threshold performance or better during a Performance
Period. 

  

	 	(h)	“Target SVP Award” means an SVP Award established by the Committee from time to time with respect to a Performance Period based on “target” performance.

 ARTICLE 5 
 OPERATION OF THE PLAN 
 5.1 Target SVP Awards. Subject to Section 3.3, the Target SVP Award for a participant
for the current 36-month Performance Period is three times the participant’s Beginning Base Salary multiplied by an Award Factor derived from the participant’s officer level at the beginning of the Performance Period (or such later time as
the person first becomes a participant in the Shareholder Value Plan), as set forth on Exhibit B hereto. The Committee may establish different Target SVP Awards for future Performance Periods. 
 5.2 Performance Goals and Payout Matrix. The Performance Goals and Payout Matrix applicable to the current 36-month Performance Period are based
on Cumulative Adjusted EPS, as set forth on Exhibit A and Exhibit B hereto. The Committee may establish different Performance Goals and Payout Matrices for future Performance Periods. The Committee shall establish Performance Goals
prior to the beginning of a Performance Period for which such Performance Goals relate. 
 5.3 Determination of Performance Results.
As soon as reasonably possible after the close of the fiscal quarter or year marking the end of a Performance Period, the Committee will determine and certify in writing the degree to which the Performance Goals have been attained and may, in its
discretion, exclude the effect of all nonrecurring charges, extraordinary items, discontinued operations and cumulative effects of accounting changes. The Committee shall have the sole authority to determine to what the extent the Performance Goals
have been attained. Any payment of an SVP Award shall be conditioned on the written certification of the Committee in each case that the Performance Goals and any other material conditions were satisfied. The Committee has the right for any reason
to reduce or increase, if permitted by applicable law, the amount of an SVP Award, notwithstanding the achievement of a specified Performance Goal. 
 5.4 Payout Form and Timing. SVP Awards will be paid in cash as soon as possible after the certification by the Committee of the amount of the SVP Awards based on the achievement of Performance Goals over the Performance Period.
Notwithstanding the achievement of a Performance Goal, the Committee may, in its discretion, reduce, or increase if permitted by applicable law, the amount of an SVP Award otherwise payable to one or more participants under the Shareholder Value
Plan. 
 5.5 SVP Award Deferrals. On or before the beginning of the final year of a Performance Period, a participant who is eligible
to participate in a deferred compensation plan of the Company may elect to defer receipt of his or her SVP Award, if any, with respect to such Performance Period under such deferred compensation plan. Any amount so deferred will be governed by the
terms of the applicable deferred compensation plan. 
  

 - 3 - 

 5.6. Performance Period Limit. As provided in Section 5.4 of the Plan, in no event shall any
participant receive an SVP Award for a Performance Period which exceeds $4,000,000. 
 5.7 Termination of Employment. If a participant
ceases being an employee of the Company or any Subsidiary for any reason other than death, Disability, or Retirement, then his or her participation in the Shareholder Value Plan shall automatically be terminated and the participant will forfeit any
right to an SVP Award for the Performance Period in which the termination of employment occurs; provided, however that the Committee may make exceptions on a case-by-case basis in its sole discretion in the case of a participant’s termination
without Cause or resignation for Good Reason (as the terms “Cause” and “Good Reason” are defined in the participant’s Employment Agreement with the Company, if any). For terminations after a Performance Period, but before
payout from the Shareholder Value Plan, payout will be made as though the termination had not occurred. A participant’s transfer of employment from the Company to one of its Subsidiaries, from a Subsidiary to the Company, or from one Subsidiary
to another Subsidiary shall not constitute a termination of employment for purposes of the Shareholder Value Plan. In the event of a participant’s termination of employment by reason of death, Disability or Retirement (or if so provided by the
Committee in the case of a participant’s termination without Cause or resignation for Good Reason), a prorata SVP Award shall be made, based on the number of days in the Performance Period preceding the date of termination. SVP Awards in these
situations may be calculated and paid after the end of the Performance Period, the same as for other participants. Amounts paid on behalf of a deceased participant will be paid to the participant’s Beneficiary. 
 5.8 Change in Control. Notwithstanding any provision to the contrary herein or in the Plan, upon the occurrence of a Change in Control, all
Performance Periods shall end as of the last day of the fiscal quarter ended prior to or on the date of the Change in Control. All SVP Awards shall be deemed earned and will be paid out in an amount equal to the product of (i) either
(A) the Target SVP Award or (B) if the sum of the Adjusted EPS for each completed fiscal year in the Performance Period prior to the Change in Control is equal to or greater than 105.83% of the Prorated Cumulative Adjusted EPS (as defined
below) for such fiscal years, the Maximum SVP Award, multiplied by (ii) a fraction, the numerator of which is the number of full months that have elapsed from the beginning of the Performance Period to the date of the Change in Control
(including the month the Change in Control occurs), and the denominator of which is number of full months in the original Performance Period. Payment of SVP Awards shall be made within 120 days after the Change in Control transaction has been
completed. “Prorated Cumulative Adjusted EPS” for the current Performance Period means (x) [***] if a Change of Control takes place after the end of fiscal 2009 but prior to the end of fiscal 2010, and (y) [***] if a Change in
Control takes place after the end of fiscal 2010 but prior to the end of fiscal 2011. 
 ARTICLE 6 
 AMENDMENT, MODIFICATION AND TERMINATION 
 6.1. Amendment, Modification and Termination. The Committee may, at any time and from time to time, amend, modify or terminate the Shareholder Value Plan. The Committee may condition any amendment or modification on the approval of
shareholders of the Company if such approval is necessary or deemed advisable with respect to tax, securities or other applicable laws, policies or regulations. 
 6.2 Termination After or During the Performance Period. Termination of the Shareholder Value Plan after a Performance Period but before SVP Awards are made will not reduce 

  

 - 4 - 

 
participants’ rights to receive SVP Awards for the Performance Period. Termination or amendment of the Shareholder Value Plan during a Performance
Period may be retroactive to the beginning of the Performance Period, at the discretion of the Committee. If any amendment or termination occurs during a Performance Period, the Committee shall determine when and to what extent SVP Awards shall be
paid for the portion of the Performance Period preceding the amendment or termination. 
 ARTICLE 7 
 CHANGES IN CAPITAL STRUCTURE 
 7.1.
Adjustments. If, during a Performance Period, the Company’s capital structure should be materially altered by virtue of a reorganization, recapitalization, stock split, stock dividend, combination of shares, rights offer, liquidation,
dissolution, merger, consolidation, spin-off or sale of assets, or any other change in or affecting the corporate structure or capitalization of the Company, which does not constitute a Change in Control, the Committee may redefine the Payout Matrix
or adjust the Performance Period, to reflect the impact of such change. The nature of any such adjustment shall be to protect the purpose and integrity of the Shareholder Value Plan, reducing the potential for windfall gains or losses for
participants. 
 ARTICLE 8 
 GENERAL PROVISIONS 
 8.1. Nonassignability. participant rights under the Shareholder Value Plan may not be
transferred, assigned, pledged or encumbered, without the express prior consent of the Committee. 
 8.2. No Right to Participate. No
officer or employee shall have any right to be selected to participate in the Shareholder Value Plan. 
 8.3. No Right to Employment.
Nothing in the Shareholder Value Plan shall interfere with or limit in any way the right of the Company or any Subsidiary to terminate any participant’s employment at any time, nor confer upon any participant any right to continue in the employ
of the Company or any Subsidiary or at any particular rate of compensation. 
 8.4. Withholding. In accordance with Section 17.3
of the Plan, the Company or any Subsidiary shall have the authority and the right to deduct or withhold, or require a participant to remit to the Company, an amount sufficient to satisfy federal, state, and local taxes (including the
participant’s FICA obligation) required by law to be withheld with respect to any taxable event arising as a result of the Shareholder Value Plan. 
 8.5. Unfunded Status of Awards. The Shareholder Value Plan is intended to be an “unfunded” Plan for incentive and deferred compensation. With respect to any payments not yet made to a participant
pursuant to the Shareholder Value Plan, nothing contained in the Shareholder Value Plan shall give the participant any rights that are greater than those of a general creditor of the Company or any Subsidiary. 
 8.6. Expenses. The expenses of administering the Shareholder Value Plan shall be borne by the Company and its Subsidiaries. 
  

 - 5 - 

 8.7. Titles and Headings. The titles and headings of the Sections in the Shareholder Value Plan
are for convenience of reference only, and in the event of any conflict, the text of the Shareholder Value Plan, rather than such titles or headings, shall control. 
 8.8. Gender and Number. Except where otherwise indicated by the context, any masculine term used herein also shall include the feminine; the plural shall include the singular and the singular shall include the
plural. 
 8.9. Governing Law. To the extent not governed by federal law, the Shareholder Value Plan, and each participant’s
rights thereunder, shall be construed in accordance with and governed by the laws of the State of Florida. 
 8.10 Severability.
If any provision of this Shareholder Value Plan is held to be illegal, invalid, or unenforceable under present or future laws effective during the term hereof, the remaining provisions hereof shall remain in full force and effect and shall not
be affected by the illegal, invalid or unenforceable provision. Furthermore, in lieu of such illegal or unenforceable provision, there shall be added automatically as a part of this Shareholder Value Plan a provision as similar in terms to such
illegal, invalid, or unenforceable provision as may be possible and still be legal, valid and enforceable. 
 8.11 Plan Controls. This
Shareholder Value Plan is adopted pursuant to and shall be governed by and construed in accordance with the Plan. In the event of any actual or alleged conflict between the provisions of the Plan and the provisions of this Shareholder Value Plan,
the provisions of the Plan shall be controlling and determinative. 
 The foregoing is hereby acknowledged as being the PSS World Medical,
Inc. Shareholder Value Plan as adopted by the Committee on July 16, 2008. 
  

			
	PSS WORLD MEDICAL, INC.
		
	By:	 	 /S/ David A. Smith

		 	David A. Smith
		 	Chairman and Chief Executive Officer

  

 - 6 - 

 EXHIBIT A 
 TARGET AWARDS AND PERFORMANCE GOALS 
 For the 36-month Performance Period from March 29, 2008 to March 28, 2011 
 Subject to
Section 3.3 of the Shareholder Value Plan, the Target SVP Award for the Performance Period 3/29/08 – 3/28/11 is an amount calculated as three times the participant’s Beginning Base Salary multiplied by an Award factor (“Award
Factor”) derived from the participant’s officer level at the beginning of the Performance Period (or such later time as the person first becomes a participant in the Shareholder Value Plan). The Award Factors to be used under the
Shareholder Value Plan with respect to the current Performance Period are set forth on Exhibit B.  
 Participants have the
opportunity to earn from 0% to 150% of the Target SVP Award, based on the achievement of Performance Goals. The Performance Goals and Payout Matrix applicable to the current 36-month Performance Period are based on Cumulative Adjusted EPS over the
Performance Period, as set forth below: 
  

					
	 	  	Cumulative Adjusted EPS*	 	% of Target SVP Award Earned
		  	<$[***]  	 	    0%
	 Threshold Performance
	  	$[***]	 	  50%
	 Target Performance
	  	$[***]	 	100%
	 Maximum Performance
	  	$[***]	 	150%
		  	>$[***]  	 	150%

 Interpolation between points will be made on a straight line basis. Officers whose employment with
the Company begins during the last three months of the current Performance Period shall not be eligible to participate in the Shareholder Value Plan for the current Performance Period. 
  

 - 7 - 

 EXHIBIT B 
 PAYOUT MATRIX 
 For the 36-month Performance Period from
March 29, 2008 to March 28, 2011 
  

			
	 MARST Score
	 	 Award Factor

	 35
	 	55%
	 34
	 	55%
	 33
	 	55%
	 32
	 	55%
	 31
	 	50%
	 30
	 	50%
	 29
	 	40%
	 28
	 	40%
	 27
	 	40%
	 26
	 	40%
	 25
	 	40%
	 24
	 	39%
	 23
	 	38%
	 22
	 	36%
	 21
	 	34%
	 20
	 	33%
	 19
	 	32%
	 18
	 	31%
	 17
	 	30%
	 16
	 	29%
	 15
	 	28%
	 14
	 	23%
	 13
	 	22%
	 12
	 	20%
	 11
	 	15%
	 10
	 	15%
	 9
	 	15%
	 8
	 	15%
	 7
	 	15%
	 6
	 	15%
	 5
	 	15%

  

 - 8 -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00159-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00159-of-00352.parquet"}]]