INVITROGEN CORP
EXHIBIT 10.1
<DOCUMENT>
<TYPE>EX-10.1
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<FILENAME>a2055840zex-10_1.txt
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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                                                                    Exhibit 10.1


                           CHANGE-IN-CONTROL AGREEMENT


                  AGREEMENT by and between INVITROGEN CORPORATION, a Delaware
Corporation (the "Company"), and Lyle C. Turner (the "Executive"), dated as of
the 1st day of June 2001.

                  The Board of Directors of the Company (the "Board"), has
determined that it is in the best interests of the Company and its stockholders
to assure that the Company will have the continued dedication of the Executive,
notwithstanding the possibility, threat or occurrence of a Change in Control (as
defined below). The Board believes it is imperative to diminish the inevitable
distraction of the Executive by virtue of the personal uncertainties and risks
created by a pending or threatened Change in Control and to encourage the
Executive's full attention and dedication to the Company currently and in the
event of any threatened or pending Change in Control, and to provide the
Executive with compensation and benefits arrangements upon a Change in Control
which ensure that the compensation and benefits expectations of the Executive
will be satisfied and which are competitive with those of other corporations.
Therefore, in order to accomplish these objectives, the Board has caused the
Company to enter into this Agreement.

                  NOW, THEREFORE, IT IS HEREBY AGREED AS FOLLOWS:

                  1.       CERTAIN DEFINITIONS.

                           (a)      The "Effective Date" shall be the first date
during the "Change in Control Period" (as defined in Section l(b)) on which a
Change in Control occurs; provided that the Executive is employed on that date.
Anything in this Agreement to the contrary notwithstanding, if the Executive's
employment with the Company is terminated or the Executive ceases to be an
officer of the Company prior to the date on which a Change in Control occurs,
and it is reasonably demonstrated by the Executive that such termination of
employment or cessation of status as an officer (i) was at the request of a
third party who has taken steps reasonably calculated to effect the Change in
Control or (ii) otherwise arose in connection with or anticipation of the Change
in Control, then for all purposes of this Agreement the "Effective Date" shall
mean the date immediately prior to the date of such termination of employment or
cessation of status as an officer.

                           (b)      The "Change in Control Period" is the period
commencing on the date hereof and ending on the second anniversary of such date,
provided, however, that commencing on the date one year after the date hereof,
and on each annual anniversary of such date (such date and each annual
anniversary thereof is hereinafter referred to as the "Renewal Date"), the
Change in Control Period shall be automatically extended so as to terminate two
years from such


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Renewal Date, unless at least 60 days prior to the Renewal Date the Company
shall give notice to the Executive that the Change in Control Period shall not
be so extended.

                  2.       CHANGE IN CONTROL.  For the purpose of this
Agreement;

                           (a)      a "Change in Control" shall mean:

                                    (i)      Any acquisition or series of
acquisitions, other than from the Company, by any individual, entity or group
(within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange
Act of 1934, as amended (the "Exchange Act")) of beneficial ownership (within
the meaning of Rule 13d-3 under the Exchange Act) of 50% or more of either the
then outstanding shares of common stock of the Company (the "Outstanding Company
Common Stock") or the combined voting power of the then outstanding voting
securities of the Company entitled to vote generally in the election of
directors (the "Outstanding Company Voting Securities"), PROVIDED, HOWEVER, that
(A) any acquisition by the Company, or any of its subsidiaries, (B) any
acquisition by any employee benefit plan (or related trust) sponsored or
maintained by the Company or any of its subsidiaries, or (C) any acquisition or
series of acquisitions which results in any individual, entity or group (within
the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) acquiring
beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act)
of more than 50% of the Outstanding Company Common Stock and while such a
beneficial owner such individual, entity or group does not exercise the voting
power of his, her or its Outstanding Company Common Stock or otherwise exercise
control with respect to any matter concerning or affecting the Company and
promptly sells, transfers, assigns or otherwise disposes of that number of
shares of Outstanding Company Common Stock necessary to reduce his, her or its
beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act)
of the Outstanding Company Common Stock to below 50%, as the case may be, shall
not constitute a Change in Control; or

                                    (ii)     Individuals who as of April 27,
2001, constitute the Board of Directors of the Company (the "Incumbent Board")
cease for any reason to constitute at least a majority of the Board of Directors
of the Company, provided that any individual becoming a director subsequent to
April 27, 2001, whose election, or nomination for election, by the Company's
stockholders was approved by a vote of at least a majority of the directors then
comprising the Incumbent Board, shall be considered as though such individual
were a member of the Incumbent Board, but excluding, for this purpose, any such
individual whose initial assumption of office is in connection with an actual or
threatened election contest (as such terms are used in Rule 14a-11 of the
Regulation 14A promulgated under the Exchange Act) relating to the election of
directors of the Company; or

                                    (iii)    Approval by the stockholders of the
Company of a complete liquidation or dissolution of the Company, or of the sale
or other disposition of all or substantially all of the assets of the Company,
or of a reorganization, merger or consolidation of the Company, in each case,
with respect to which all or substantially all of the individuals and entities
who were the respective beneficial owners of the Outstanding Company Common
Stock and Outstanding Company Voting Securities immediately prior to such
reorganization, merger or


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consolidation do not, following such reorganization, merger or consolidation
beneficially own, directly or indirectly, more than 60% of, respectively, the
then outstanding shares of common stock and the combined voting power of the
then outstanding voting securities entitled to vote generally in the election of
directors, as the case may be, of the corporation resulting from such
reorganization, merger or consolidation.

                  3.       EMPLOYMENT PERIOD. The Company hereby agrees to
continue the Executive in its employ, and the Executive hereby agrees to remain
in the employ of the Company, for the period commencing on the Effective Date
and ending at the end of the 24th month following the Effective Date (the
"Employment Period").

                  4.       TERMS OF EMPLOYMENT

                           (a)      POSITION AND DUTIES.

                                    (i)      During the Employment Period, (A)
the Executive's position, authority, duties and responsibilities shall not be
substantially diminished from the most significant of those held, exercised and
assigned at any time during the 90-day period immediately preceding the
Effective Date and (B) the Executive's services shall be performed at the
location where the Executive was employed immediately preceding the Effective
Date or any office or location less than 50 miles from such location.

                                    (ii)     During the Employment Period, and
excluding any periods of vacation and sick leave to which the Executive is
entitled, the Executive agrees to devote reasonable attention and time during
normal business hours to the business and affairs of the Company and, to the
extent necessary to discharge the responsibilities assigned to the Executive
hereunder, to use the Executive's reasonable best efforts to perform faithfully
and efficiently such responsibilities. During the Employment Period it shall not
be a violation of this Agreement for the Executive to (A) serve on corporate,
civic or charitable boards or committees, (B) deliver lectures, fulfill speaking
engagements or teach at educational institutions and (C) manage personal
investments, so long as such activities do not significantly interfere with the
performance of the Executive's responsibilities as an employee of the Company in
accordance with this Agreement. It is expressly understood and agreed that to
the extent that any such activities have been conducted by the Executive prior
to the Effective Date, the continued conduct of such activities (or the conduct
of activities similar in nature and scope thereto) subsequent to the Effective
Date shall not thereafter be deemed to interfere with the performance of the
Executive's responsibilities to the Company.

                           (b)      COMPENSATION.

                                    (i)      BASE SALARY. During the Employment
Period, the Executive shall receive an annual base salary ("Annual Base
Salary"), which shall be paid at a monthly rate, at least equal to the highest
annualized (for any fiscal year consisting of less than twelve full months or
with respect to which the Executive has been employed by the Company for less
than twelve full months) base salary paid or payable to the Executive by the
Company and its affiliated companies


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in respect of the three fiscal years immediately preceding the fiscal year in
which the Effective Date occurs. During the Employment Period, the Annual Base
Salary shall be reviewed at least annually and shall be increased at any time
and from time to time as shall be substantially consistent with increases in
base salary generally awarded in the ordinary course of business to other peer
executives of the Company and its affiliated companies. Any increase in Annual
Base Salary shall not serve to limit or reduce any other obligation to the
Executive under this Agreement. Annual Base Salary shall not be reduced after
any such increase and the term Annual Base Salary as utilized in this Agreement
shall refer to the Annual Base Salary as so increased. As used in this
Agreement, the term "affiliated companies" includes any company controlled by,
controlling or under common control with the Company.

                                    (ii)     ANNUAL BONUS. In addition to Annual
Base Salary, the Executive shall be awarded, for each fiscal year during the
Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal
to the higher of either (A) the average annualized (for any fiscal year
consisting of less than twelve full months or with respect to which the
Executive has been employed by the Company for less than twelve full months)
bonus paid, or payable but for any deferral to the Executive by the Company and
its affiliated companies under the Company's deferred compensation arrangements,
in respect of the three fiscal years immediately preceding the fiscal year in
which the Effective Date occurs, or (B) in the event the annual bonus paid, or
payable but for any deferral to the Executive by the Company and its affiliated
companies under the Company's deferred compensation arrangement, in respect of
the fiscal year immediately preceding the fiscal year in which the Effective
Date occurs was based upon a formula or plan in which the Executive
participated, then such Annual Bonus shall be at least equal to the bonus which
would be payable based on such formula or plan had the Executive's participation
therein and level of participation remained in effect following the Effective
Date. Each such Annual Bonus shall be paid no later than the end of the third
month of the fiscal year next following the fiscal year for which the Annual
Bonus is awarded, unless the Executive shall elect to defer the receipt of such
Annual Bonus.

                                    (iii)    INCENTIVE, SAVINGS AND RETIREMENT
PLANS. In addition to Annual Base Salary and Annual Bonus payable as hereinabove
provided, the Executive shall be entitled to participate during the Employment
Period in all incentive, savings and retirement plans, practices, policies and
programs generally applicable to other peer executives of the Company and its
affiliated companies, but in no event shall such plans, practices, policies and
programs provide the Executive with incentive opportunities (measured with
respect to both regular and special incentive opportunities), savings
opportunities and retirement benefits opportunities, in each case, less
favorable, in the aggregate, than the most favorable of those provided by the
Company and its affiliated companies for the Executive under such plans,
practices, policies and programs as in effect at any time during the 90-day
period immediately preceding the Effective Date.

                                    (iv)     WELFARE BENEFIT PLANS. During the
Employment Period, the Executive and/or the Executive's family, as the case may
be, shall be eligible for participation in and shall receive all benefits under
welfare benefit plans, practices, policies and programs provided by the Company
and its affiliated companies (including, without limitation, medical,
prescription, dental, disability, salary continuance, employee life, group life,
accidental death and travel accident


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insurance plans and programs) to the extent generally applicable to other peer
executives of the Company and its affiliated companies, but in no event shall
such plans, practices, policies and programs provide benefits which are less
favorable, in the aggregate, than the most favorable of such plans, practices,
policies and programs in effect for the Executive and/or the Executive's family
at any time during the 90-day period immediately preceding the Effective Date.

                                    (v)      BUSINESS EXPENSES. During the
Employment Period, the Executive shall be entitled to receive prompt
reimbursement for all reasonable business expenses incurred by the Executive in
accordance with the most favorable policies, practices and procedures of the
Company and its affiliated companies in effect for the Executive at any time
during the 90-day period immediately preceding the Effective Date or, if more
favorable to the Executive, as in effect at any time thereafter generally with
respect to other peer executives of the Company and its affiliated companies.

                                    (vi)     FRINGE BENEFITS. During the
Employment Period, the Executive shall be entitled to fringe benefits in
accordance with the most favorable plans, practices, programs and policies of
the Company and its affiliated companies in effect for the Executive at any time
during the 90-day period immediately preceding the Effective Date or, if more
favorable to the Executive, as in effect at any time thereafter generally with
respect to other peer executives of the Company and its affiliated companies.

                                    (vii)    OFFICE AND SUPPORT STAFF. During
the Employment Period, the Executive shall be entitled to an office or offices
of a size and with furnishings and other appointments, and to personal
secretarial and other assistance, at least equal to the most favorable of the
foregoing provided to the Executive by the Company and its affiliated companies
at any time during the 90-day period immediately preceding the Effective Date
or, if more favorable to the Executive, as provided at any time thereafter
generally with respect to other peer executives of the Company and its
affiliated companies.

                                    (viii)   VACATION. During the Employment
Period, the Executive shall be entitled to paid vacation in accordance with the
most favorable plans, policies, programs and practices of the Company and its
affiliated companies as in effect for the Executive at any time during the
90-day period immediately preceding the Effective Date or, if more favorable to
the Executive, as in effect at any time thereafter generally with respect to
other peer executives of the Company and its affiliated companies.

                  5.       TERMINATION OF EMPLOYMENT

                           (a)      DEATH OR DISABILITY. The Executive's
employment shall terminate automatically upon the Executive's death during the
Employment Period. If the Company determines in good faith that the Disability
(as defined below) of the Executive has occurred during the Employment Period,
it may give to the Executive written notice in accordance with Section 15(b) of
this Agreement of its intention to terminate the Executive's employment. In such
event, the Executive's employment with the Company shall terminate effective on
the 30th day after receipt of such notice by the Executive (the "Disability
Effective Date"), provided that, within the 30 days


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after such receipt, the Executive shall not have returned to full-time
performance of the Executive's duties. For purposes of this Agreement,
"Disability" means the absence of the Executive from the Executive's duties with
the Company on a full-time basis for 180 consecutive business days as a result
of incapacity due to mental or physical illness which is determined to be total
and permanent by a physician selected by the Company or its insurers and
acceptable to the Executive or the Executive's legal representative (such
agreement as to acceptability not to be withheld unreasonably).

                           (b)      CAUSE. The Company may terminate the
Executive's employment during the Employment Period for "Cause." For purposes of
this Agreement, "Cause" means (i) repeated violations by the Executive of the
Executive's responsibilities and duties under Section 4(a) of this Agreement
which are demonstrably willful and deliberate on the Executive's part and which
are not remedied in a reasonable period of time after receipt of written notice
from the Company, (ii) commission of an intentional act of fraud, embezzlement
or theft by the Executive in connection with the Executive's duties or in the
course of the Executive's employment with the Company or its affiliated
companies, (iii) causing intentional wrongful damage to property of the Company
or its affiliated companies, (iv) intentionally and wrongfully disclosing secret
processes or confidential information of the Company or its affiliated
companies, or (v) participating, without the Company's express written consent,
in the management of any business enterprise which engages in substantial and
direct competition with the Company or its affiliated companies, and any such
act shall have been materially harmful to the Company or its affiliated
companies.

                           (c)      GOOD REASON. The Executive's employment may
be terminated during the Employment Period by the Executive for "Good Reason."
For purposes of this Agreement, "Good Reason" means

                                    (i)      a substantial diminution in the
Executive's position, authority, duties or responsibilities as contemplated by
Section 4(a) of this Agreement, excluding non-substantial changes in title or
office, and excluding any isolated, insubstantial and inadvertent action not
taken in bad faith and which is remedied by the Company promptly after receipt
of written notice thereof given by the Executive;

                                    (ii)     any failure by the Company to
comply with any of the provisions of Section 4(b) of this Agreement, other than
an isolated, insubstantial and inadvertent failure not occurring in bad faith
and which is remedied by the Company promptly after receipt of written notice
thereof given by the Executive;

                                    (iii)    the Company requiring the Executive
to be based at any office or location other than that described in Section
4(a)(i)(B) hereof or, requiring the Executive to travel away from his or her
office in the course of discharging responsibilities or duties in a manner which
is inappropriate for the performance of the Executive's duties hereunder and
which is significantly more frequent (in terms of either consecutive days or
aggregate days in any calendar year) than was required prior to the Change in
Control;


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                                    (iv)     any purported termination by the
Company of the Executive's employment otherwise than as expressly permitted by
this Agreement; or

                                    (v)      any failure by any successor to the
Company to comply with and satisfy Section 14(c) of this Agreement, provided
that such successor has received at least ten (10) days prior written notice
from the Company or the Executive of the requirements of Section 14(c) of this
Agreement.

For the purposes of this Section 5(c), any good faith determination of "Good
Reason" made by the Executive shall be conclusive.

                           (d)      NOTICE OF TERMINATION. Any termination by
the Company for Cause or by the Executive for Good Reason shall be communicated
by "Notice of Termination" to the other party hereto given in accordance with
Section 15(b) of this Agreement. For purposes of this Agreement, a "Notice of
Termination" means a written notice which (i) indicates the specific termination
provision in this Agreement relied upon, (ii) to the extent applicable, sets
forth in reasonable detail the facts and circumstances claimed to provide a
basis for termination of the Executive's employment under the provision so
indicated and (iii) if the Date of Termination (as defined below) is other than
the date of receipt of such notice, specifies the termination date (which date
shall be not more than fifteen days after the giving of such notice). The
failure by the Executive or the Company to set forth in the Notice of
Termination any fact or circumstance which contributes to a showing of Good
Reason or Cause, as the case may be, shall not waive any right of the Executive
or the Company hereunder or preclude the Executive or the Company from asserting
such fact or circumstance in enforcing the Executive's or the Company's rights
hereunder.

                           (e)      DATE OF TERMINATION. "Date of Termination"
means the date of receipt of the Notice of Termination or any later date
specified therein, as the case may be; provided, however, that (i) if the
Executive's employment is terminated by the Company other than for Cause or
Disability, the Date of Termination shall be the date on which the Company
notifies the Executive of such termination and (ii) if the Executive's
employment is terminated by reason of death or Disability, the Date of
Termination shall be the date of death of the Executive or the Disability
Effective Date, as the case may be.

                  6.       OBLIGATIONS OF THE COMPANY UPON TERMINATION

                           (a)      DEATH. If the Executive's employment is
terminated by reason of the Executive's death during the Employment Period, this
Agreement shall terminate without further obligations to the Executive's legal
representatives under this Agreement, other than the following obligations: (i)
payment of the Executive's Annual Base Salary through the Date of Termination to
the extent not theretofore paid, (ii) payment of the product of (x) the Annual
Bonus paid or payable but for any deferral (and annualized for any fiscal year
consisting of less than twelve full months or for which the Executive has been
employed for less than twelve full months) to the Executive for the most
recently completed fiscal year during the Employment Period, and (y) a fraction,
the numerator of which is the number of days in the current fiscal year through
the Date of Termination, and the denominator of which is 365 and (iii) payment
of any compensation


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previously deferred by the Executive (together with any accrued interest
thereon) and not yet paid by the Company and any accrued vacation pay not yet
paid by the Company (the amounts described in clauses (i), (ii) and (iii) above
are hereafter referred to as "Accrued Obligations"). All Accrued Obligations
shall be paid to the Executive's estate or beneficiary, as applicable, at the
option of the Company, either (x) in a lump sum in cash within 30 days of the
Date of Termination or (y) in twelve equal consecutive monthly installments,
with the first installment to be paid within 30 days of the Date of Termination.
Anything in this Agreement to the contrary notwithstanding, the Executive's
family shall be entitled to receive benefits at least equal to the most
favorable benefits provided generally by the Company and any of its affiliated
companies to surviving families of peer executives of the Company and such
affiliated companies under such plans, programs, practices and policies relating
to family death benefits, if any, as in effect generally with respect to other
peer executives and their families at any time during the 90-day period
immediately preceding the Effective Date or, if more favorable to the Executive
and/or the Executive's family as in effect on the date of the Executive's death
generally with respect to other peer executives of the Company and its
affiliated companies and their families.

                           (b)      DISABILITY. If the Executive's employment is
terminated by reason of the Executive's Disability during the Employment Period,
this Agreement shall terminate without further obligations to the Executive,
other than for Accrued Obligations. All Accrued Obligations shall be paid to the
Executive at the option of the Company, either (x) in a lump sum in cash within
30 days of the Date of Termination or (y) in twelve equal consecutive monthly
installments, with the first installment to be paid within 30 days of the Date
of Termination. Anything in this Agreement to the contrary notwithstanding, the
Executive shall be entitled after the Disability Effective Date to receive
disability and other benefits at least equal to the most favorable of those
provided by the Company and its affiliated companies to disabled peer executives
and/or their families in accordance with such plans, programs, practices and
policies relating to disability, if any, as in effect generally with respect to
other peer executives and their families at any time during the 90-day period
immediately preceding the Effective Date or, if more favorable to the Executive
and/or the Executive's family, as in effect at any time thereafter through the
Date of Termination generally with respect to other peer executives of the
Company and its affiliated companies and their families.

                           (c)      CAUSE. If the Executive's employment shall
be terminated for Cause during the Employment Period, this Agreement shall
terminate without further obligations to the Executive other than the obligation
to pay to the Executive the Annual Base Salary through the Date of Termination
plus the amount of any compensation previously deferred by the Executive, in
each case to the extent theretofore unpaid. If the Executive terminates
employment during the Employment Period, excluding a termination for Good
Reason, this Agreement shall terminate without further obligations to the
Executive, other than for Accrued Obligations. In such case, all Accrued
Obligations shall be paid to the Executive at the option of the Company, either
(x) in a lump sum in cash within 30 days of the Date of Termination, or (y) in
twelve equal consecutive monthly installments, with the first installment to be
paid within 30 days of the Date of Termination.


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                           (d)      Good Reason. If, during the Employment
Period, the Company shall terminate the Executive's employment other than for
Cause or Disability, or the Executive shall terminate employment under this
Agreement for Good Reason:

                                    (i)      the Company shall pay to the
Executive the aggregate of the following amounts, such amounts to be payable by
the Company in a lump sum in cash within 30 days of the Date of termination.

                                             A.       All Accrued Obligations;
and

                                             B.       2.0 times the sum of the
Executive's Annual Base Salary and the higher of either (i) the average
annualized (for any fiscal year consisting of less than twelve full months or
with respect to which the Executive has been employed by the Company for less
than twelve full months) bonus paid, or payable but for any deferral to the
Executive by the Company and its affiliated companies under the Company's
deferred compensation arrangements, in respect of the three fiscal years
immediately preceding the fiscal year in which the Effective Date occurs, or
(ii) the targeted annual bonus payable to the Executive pursuant to the
Company's Incentive Compensation Plan for the fiscal year in which the Date of
Termination occurs (assuming 100% achievement of the Company performance factor
and 100% achievement of the Executive's personal performance factor; and

                                             C.       An amount equal to that
portion, if any, of the Company's contribution to the Executive's 401(k),
savings or other similar individual account plan which is not vested as of the
Date of Termination (the "Unvested Company Contribution"), plus an amount which
when added to the Unvested Company Contribution would be sufficient after
Federal, state and local income taxes (based on the tax returns filed by the
Executive most recently prior to the Date of Termination) to enable the
Executive to net an amount equal to the Unvested Company Contribution; and

                                    (ii)     the Company shall pay the Executive
up to $25,000 for executive outplacement services utilized by the Executive upon
the receipt by the Company of written receipts or other appropriate
documentation; and

                                    (iii)    for the remainder of the Employment
Period, or such longer period as any plan, program, practice or policy may
provide, the Company shall continue benefits to the Executive and, where
applicable, the Executive's family at least equal to those which would have been
provided to them in accordance with the plans, programs, practices and policies
described in Section 4(b)(iv) of this Agreement if the Executive's employment
had not been terminated in accordance with the most favorable plans, practices,
programs or policies of the Company and its affiliated companies generally
applicable to other peer executives and their families during the 90-day period
immediately preceding the Effective Date or, if more favorable to the Executive,
as in effect at any time thereafter generally with respect to other peer
executives of the Company and its affiliated companies and their families;
provided, however, that if the Executive becomes employed elsewhere during the
Employment Period and is thereby afforded


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comparable insurance and welfare benefits to those described in Section
4(b)(iv), the Company's obligation to continue providing the Executive with such
benefits shall cease or be correspondingly reduced, as the case may be. For
purposes of determining eligibility of the Executive for retiree benefits
pursuant to such plans, practices, programs and policies, the Executive shall be
considered to have remained employed until the end of the Employment Period and
to have retired on the last day of such period; and

                                    (iv)     All outstanding stock options held
by the Executive pursuant to any Company stock option plan shall immediately
become vested and exercisable as to all or any part of the shares covered
thereby, with the Executive being able to exercise his or her stock options
within a period of three months following the Date of Termination or such longer
period as may be permitted under Executive's stock option agreements; and

                                    (v)      If, in the calendar year
immediately preceding the Date of Termination, the Executive had relocated the
Executive's primary residence from one location (the "Point of Origin") to its
location at the Date of Termination at the request of the Company, then any
relocation expenses that are actually incurred in the year immediately following
the Date of Termination by the Executive in moving the Executive's primary
residence to any location shall be reimbursed by the Company to the extent such
expenses do not exceed the cost of relocating the Executive's primary residence
to the Point of Origin, provided such expenses are substantiated by means of
written receipts. The cost of relocating the Executive's primary residence to
the Point of Origin shall be determined by averaging estimates obtained by the
Company in writing from three reputable moving companies, selected by the
Company in good faith. It shall be the obligation of the Executive to notify the
Company in advance of any such relocation so that such estimates may be
obtained.

The amounts required to be paid under this Section 6(d) shall be reduced by any
other amount of severance (i.e., relating solely to salary or bonus continuation
or actual or deemed pension or insurance continuation) received by the Executive
upon such termination of employment under any severance plan, policy or
arrangement of the Company applicable to the Executive or a group of employees
of the Company, including the Executive, and applicable without regard to the
occurrence of a Change in Control prior to such termination of employment. The
amounts payable to the Executive pursuant to this Agreement will not be subject
to any requirement of mitigation, nor, except as specifically set forth herein,
will they be offset or otherwise reduced by reason of the Executive's receipt of
compensation from any source other than the Company.

                  7.       NON-EXCLUSIVITY OF RIGHTS.Nothing in this Agreement
shall prevent or limit the Executive's continuing or future participation in any
benefit, bonus, incentive or other plans, programs, policies or practices
provided by the Company or any of its affiliated companies and for which the
Executive may qualify, nor shall anything herein limit or otherwise affect such
rights as the Executive may have under any other agreements with the Company or
any of its affiliated companies. Amounts which are vested benefits or which the
Executive is otherwise entitled to receive under any plan, policy, practice or
program of the Company or any of its affiliated companies at or subsequent to
the Date of Termination shall be payable in accordance with such plan, policy,
practice or program except as explicitly modified by this Agreement.


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                  8.       FULL SETTLEMENT. The Company's obligation to make the
payments provided for in this Agreement and otherwise to perform its obligations
hereunder, except as provided in the last sentence of Section 6(d), shall not be
affected by any set-off, counterclaim, recoupment, defense or other claim, right
or action which the Company may have against the Executive or others. In no
event shall the Executive be obligated to seek other employment or take any
other action by way of mitigation of the amounts payable to the Executive under
any of the provisions of this Agreement. The Company agrees to pay, to the full
extent permitted by law, all legal fees and expenses which the Executive may
reasonably incur, including the costs and expenses of any arbitration
proceeding, as a result of any contest (regardless of the outcome thereof) by
the Company or others of the validity or enforceability of, or liability under,
any provision of this Agreement or any guarantee of performance thereof
(including as a result of any content by the Executive about the amount of any
payment pursuant to this Agreement), plus in each case interest on any delayed
payment at the applicable Federal rate provided for in Section 7872(f)(2) of the
Internal Revenue Code of 1986, as amended (the "Code"); PROVIDED that the
Executive's claim is not determined by a court of competent jurisdiction or an
arbitrator to be frivolous or otherwise entirely without merit.

                  9.       RELEASE. Upon fulfillment of the Company's obligation
to make the payments provided for in this Agreement and otherwise to perform its
obligations hereunder, the Executive fully and unconditionally releases and
discharges all claims and causes of action which the Executive or his or her
heirs, personal representatives, successors, or assigns ever had, now have, or
hereafter may have against the Company and any of its affiliated companies on
account of any claims and causes of action arising out of or relating to this
Agreement, any other document relating hereto or delivered in connection with
the transactions contemplated hereby.

                  10.      CERTAIN ADDITIONAL PAYMENTS BY THE COMPANY.

                           (a)      Anything in this Agreement to the contrary
notwithstanding, in the event it shall be determined that, as a result, directly
or indirectly, of the operation of any of the Company's existing stock option
plans, or any successor option or restricted stock plans (collectively, the
"Option and Restricted Stock Acceleration"), either standing alone or taken
together with the receipt of any other payment or distribution by the Company to
or for the benefit of the Executive whether paid or payable or distributed or
distributable pursuant to the terms of this Agreement or otherwise (a "Payment")
the Executive would be subject to the excise tax imposed by Section 4999 of the
Code or any interest or penalties are incurred by the Executive with respect to
such excise tax (such excise tax, together with any such interest and penalties,
are hereinafter collectively referred to as the "Excise Tax"), then the amount
payable to the Executive hereunder or as a result of the Option and Restricted
Stock Acceleration shall be reduced in an amount that would result in the
Executive being in the most advantageous net after-tax position (taking into
account both income taxes and any Excise Tax). For purposes of this
determination, the "base amount" as defined in Section 280G(b)(3)(A) of the Code
shall be allocated between the Option and Restricted Stock Acceleration, on the
one hand, and Payments, on the other hand, in accordance with Section
280G(b)(3)(B) of the Code.


                                       11
<Page>


                           (b)      All determinations required to be made under
this Section, including the amount of any reduction that will be made in the
payments made pursuant to this Agreement and the assumptions to be utilized in
arriving at such determinations, shall be made by PricewaterhouseCoopers LLP
(the "Accounting Firm") which shall provide detailed supporting calculations
both to the Company and the Executive. All fees and expenses of the Accounting
Firm for tax and accounting advice provided to the Executive, up to a maximum of
$15,000, shall be borne solely by the Company. If the Accounting Firm determines
that no Excise Tax is payable by the Executive, it shall furnish the Executive
with an opinion that failure to report the Excise Tax on the Executive's
applicable federal income tax return would not result in the imposition of a
negligence or similar penalty. Any determination by the Accounting Firm shall be
binding upon the Company and the Executive.

                  11.      CONFIDENTIAL INFORMATION. The Executive shall hold in
a fiduciary capacity for the benefit of the Company all secret or confidential
information, knowledge or data relating to the Company or any of its affiliated
companies and their respective businesses, which shall have been obtained by the
Executive during the Executive's employment by the Company or any of its
affiliated companies and which shall not be or become public knowledge (other
than by acts by the Executive or representatives of the Executive in violation
of this Agreement). After termination of the Executive's employment with the
Company, the Executive shall not, without the prior written consent of the
Company, communicate or divulge any such information, knowledge or data to
anyone other than the Company and those designated by it. In addition, to the
extent that the Executive is a party to any other agreement relating to
confidential information, inventions or similar matters with the Company, the
Executive shall continue to comply with the provisions of such agreements. In no
event shall an asserted violation of the provisions of this Section constitute a
basis for deferring or withholding any amounts otherwise payable to the
Executive under this Agreement.

                  12.      PUBLIC ANNOUNCEMENTS. The Executive shall consult
with the Company before issuing any press release or otherwise making any public
statement with respect to the Company or any of its affiliated companies, this
Agreement or the transactions contemplated hereby, and the Executive shall not
issue any such press release or make any such public statement without the prior
written approval of the Company, except as may be required by applicable law,
rule or regulation or any self regulatory agency requirements, in which event
the Company shall have the right to review and comment upon any such press
release or public statement prior to its issuance.

                  13.      ARBITRATION. Any dispute, controversy or claim
arising out of or relating to this Agreement, or any breach thereof, shall be
determined and settled by arbitration to be held in the City of New York
pursuant to the labor rules of the American Arbitration Association or any
successor organization. Any award rendered thereunder shall be final, conclusive
and binding on the parties. Subject to the provisions of Section 8 hereof, each
party shall pay one-half of all costs and expenses of any arbitration proceeding
brought pursuant to this Section, and each party shall pay its own attorneys'
fees and expenses.


                                       12
<Page>


                  14.      SUCCESSORS.

                           (a)      This Agreement is personal to the Executive
and without the prior written consent of the Company shall not be assignable by
the Executive otherwise than by will or the laws of descent and distribution.
This Agreement shall inure to the benefit of and be enforceable by the
Executive's legal representatives.

                           (b)      This Agreement shall inure to the benefit of
and be binding upon the Company and its successors and assigns.

                           (c)      The Company will require any successor
(whether direct or indirect, by purchase, merger, consolidation or otherwise) to
all or substantially all of the business and/or assets of the Company to assume
expressly and agree to perform this Agreement in the same manner and to the same
extent that the Company would be required to perform it if no such succession
had taken place. As used in this Agreement, "Company" shall mean the Company as
hereinbefore defined and any successor to its business and/or assets as
aforesaid which assumes and agrees to perform this Agreement by operation of
law, or otherwise.

                  15.      MISCELLANEOUS

                           (a)      This Agreement shall be governed by and
construed in accordance with the laws of the Sate of Delaware, without reference
to principles of conflict of laws. The captions of this Agreement are not part
of the provisions hereof and shall have no force or effect. This Agreement may
not be amended or modified otherwise than by a written agreement executed by the
parties hereto or their respective successors and legal representatives.

                           (b)      All notices and other communications
hereunder shall be in writing and shall be given by hand delivery to the other
party or by registered or certified mail, return receipt requested, postage
prepaid, addressed as follows:

                                    If to the Executive:
                                    -------------------

                                    Lyle Turner


                                    If to the Company:
                                    -----------------

                                    Invitrogen Corporation
                                    1600 Faraday Avenue
                                    Carlsbad, CA 92008
                                    (ATTN:  General Counsel)

or to such other address as either party shall have furnished to the other in
writing in accordance herewith. Notice and communications shall be effective
when actually received by the addressee.


                                       13
<Page>


                           (c)      The invalidity or unenforceability of any
provision of this Agreement shall not affect the validity or enforceability of
any other provision of this Agreement.

                           (d)      The Company may withhold from any amounts
payable under this Agreement such Federal, state or local taxes as shall be
required to be withheld pursuant to any applicable law or regulation.

                           (e)      The Executive's or the Company's failure to
insist upon strict compliance with any provision hereof in any particular
instance shall not be deemed to be a waiver of such provision or any other
provision thereof.

                           (f)      This Agreement supersedes any previous
agreement between the Company and the Executive to the extent such agreement
relates to the subject matter hereof.

IN WITNESS WHEREOF, the Executive has hereunto set his or her hand and, pursuant
to the authorization from its Board of Directors, the Company has caused these
presents to be executed in its name on its behalf, all as of the day and year
first written above.


                                             INVITROGEN CORPORATION


/s/ Lyle Turner                             By: /s/ James R. Glynn
---------------------------------               --------------------------------
Lyle Turner                                     James R. Glynn
Chairman, Chief Executive Officer               Executive Vice President and
                                                  Chief Financial Officer


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</TEXT>
</DOCUMENT>
