<SEC-DOCUMENT>0001193125-14-038223.txt : 20140206
<SEC-HEADER>0001193125-14-038223.hdr.sgml : 20140206
<ACCEPTANCE-DATETIME>20140206112159
ACCESSION NUMBER:		0001193125-14-038223
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20140205
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20140206
DATE AS OF CHANGE:		20140206

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TECHNE CORP /MN/
		CENTRAL INDEX KEY:			0000842023
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		IRS NUMBER:				411427402
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-17272
		FILM NUMBER:		14578628

	BUSINESS ADDRESS:	
		STREET 1:		614 MCKINLEY PL N E
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55413
		BUSINESS PHONE:		6123798854

	MAIL ADDRESS:	
		STREET 1:		614 MCKINLEY PLACE NE
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55413
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d672428d8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML><HEAD>
<TITLE>Form 8-K</TITLE>
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 8-K
</B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant
to Section&nbsp;13 or 15(d) </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of report (Date of earliest event reported): February&nbsp;5, 2014 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>TECHNE CORPORATION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact Name of Registrant as Specified in Its Charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>Minnesota</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>0-17272</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>41-1427402</B></TD></TR>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or Other Jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of Incorporation)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(I.R.S. Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification Number)</B></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>614 McKinley Place N.E. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Minneapolis, MN 55413 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of Principal Executive Offices)(Zip Code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(612) 379-8854 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Registrant&#146;s Telephone Number, Including Area Code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Not Applicable </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former
Name or Former Address, if Changed Since Last Report) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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<TD WIDTH="9%" VALIGN="top" ALIGN="left"><B>Item&nbsp;1.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Entry Into a Material Definitive Agreement. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The information in Item&nbsp;5.02 is
incorporated by reference into this Item&nbsp;1.01 as if fully set forth herein. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="9%" VALIGN="top" ALIGN="left"><B>Item&nbsp;5.02</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. </B></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On February&nbsp;6, 2014, Techne Corporation (the &#147;<U>Company</U>&#148;) announced the appointment of James T. Hippel to the position of Chief Financial
Officer of the Company, effective April&nbsp;1, 2014. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Hippel, 43, is a finance executive with experience in several globally diverse technology
businesses, including extensive experience with mergers, acquisitions, and operations integration. Since May 2012, Mr.&nbsp;Hippel has served as Senior Vice President and Chief Financial Officer for Mirion Technologies, Inc., a $300 million global
technology and manufacturing company that provides mission critical products to detect, monitor and identify radiation. Prior to Mirion, Mr.&nbsp;Hippel served as Vice President, Finance at Thermo Fisher Scientific, Inc., leading finance operations
for its Mass Spectrometry&nbsp;&amp; Chromatography division and its Laboratory Consumables division. In addition, Mr.&nbsp;Hippel&#146;s experience includes nine years of progressive financial leadership at Honeywell International, within its
Aerospace Segment. Mr.&nbsp;Hippel started his career with KPMG Peat Marwick&nbsp;LLP and is a CPA (inactive). He holds a Masters in Business Administration from Arizona State University and a Bachelor of Accountancy degree from Northern Arizona
University. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On February&nbsp;5, 2014, Mr.&nbsp;Hippel entered into an employment agreement with the Company (the&nbsp;&#147;<U>Employment
Agreement</U>&#148;). The Employment Agreement has an initial term of employment beginning April&nbsp;1, 2014 and continuing for three years. The Employment Agreement provides for an initial annual base salary of $350,000, which is subject to annual
review by the Executive Compensation Committee of the Company&#146;s Board of Directors. Mr.&nbsp;Hippel will also receive a relocation payment of $120,000 upon commencement of his employment, which he must repay on a pro rata basis if he
voluntarily terminates his employment prior to the first anniversary of his start date. In addition, the Employment Agreement provides for an annual cash incentive bonus at a target amount of 50% of Mr.&nbsp;Hippel&#146;s base salary based on
performance standards established from time-to-time by the Executive Compensation Committee pursuant to the terms of the Company&#146;s Management Incentive Plan. Mr.&nbsp;Hippel is also eligible for paid time off, participation in any other
employee benefit plans generally available to the Company&#146;s employees, and certain other benefits as set forth in the Employment Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The
Employment Agreement also provides for the grant on the commencement of Mr.&nbsp;Hippel&#146;s employment of a time-vested stock option (the &#147;<U>Time-Vested Option</U>&#148;) to purchase an aggregate of 25,000 shares of common stock of the
Company and a performance-vested stock option (the &#147;<U>Performance-Vested Option</U>&#148;) to purchase an aggregate of 10,000 shares of Company common stock (collectively, the &#147;<U>Options</U>&#148;), in each case pursuant to the
Company&#146;s 2010 Equity Incentive Plan (the&nbsp;&#147;<U>Plan</U>&#148;). The Options will each have an exercise price equal to the closing price of the Company&#146;s common stock on the date of grant. The Time-Vested Option will vest in equal
installments on the first four anniversaries of the commencement of Mr.&nbsp;Hippel&#146;s employment. The Performance-Vested Option will vest if, and only if, the Company achieves certain performance goals that will be established by the Executive
Compensation Committee within 60 days of the grant date. Mr.&nbsp;Hippel will also receive on the date of the commencement of his employment an award of 5,000 restricted stock units pursuant to the Plan, which award will vest in equal installments
on the first three anniversaries of the commencement of Mr.&nbsp;Hippel&#146;s employment. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Employment Agreement may be terminated at any time by
either party upon written notice. If the Employment Agreement is terminated in certain circumstances, such as by the Company without Cause, by the Company following a Change in Control, or by Mr.&nbsp;Hippel for Good Reason (each such capitalized
term as defined in the Employment Agreement), the Company will be required to pay severance to Mr.&nbsp;Hippel in an amount equal to one year of his then-current base salary. Any severance paid to Mr.&nbsp;Hippel will be paid in exchange for
Mr.&nbsp;Hippel&#146;s release of claims against the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with signing the Employment Agreement, Mr.&nbsp;Hippel signed a separate
agreement that contains the Company&#146;s customary non-competition, confidentiality, and assignment of intellectual property terms. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">There is not currently, nor has there been in the past, any transaction with the Company or any of its
subsidiaries or affiliates in which Mr.&nbsp;Hippel has or had a direct or an indirect material interest. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The foregoing summary does not purport to be
complete and is qualified in its entirety by reference to the Employment Agreement, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="9%" VALIGN="top" ALIGN="left"><B>Item&nbsp;8.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Other Events </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On February&nbsp;6, 2014, the Company issued a press release announcing the appointment of
Mr.&nbsp;Hippel as the Chief Financial Officer of the Company. A copy of the press release is attached hereto as Exhibit 99.1. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="9%" VALIGN="top" ALIGN="left"><B>Item&nbsp;9.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Financial Statements and Exhibits. </B></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top">Financial statements: None. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top">Pro forma financial information: None. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top">Shell company transactions: None. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top">Exhibits: </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" NOWRAP>10.1</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Employment Agreement dated February&nbsp;5, 2014, by and between the Company and James T. Hippel.</TD></TR>
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<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Press Release dated February 6, 2014, announcing James T. Hippel as Chief Financial Officer of the Company</TD></TR>
</TABLE>
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<TD WIDTH="4%">&nbsp;</TD>
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<TD WIDTH="4%">&nbsp;</TD>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" COLSPAN="3">Techne&nbsp;Corporation</TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Date: February&nbsp;6, 2014</P></TD>
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<TD VALIGN="bottom">By</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Charles&nbsp;R.&nbsp;Kummeth</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">Charles R. Kummeth</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">Chief&nbsp;Executive&nbsp;Officer</TD></TR>
</TABLE>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TECHNE CORPORATION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT INDEX TO FORM 8-K </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="47%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date of Report:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right">Commission File No.:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">February&nbsp;5, 2014</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right">0-17272</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="92%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" ALIGN="center"><B>Exhibit<BR>Number</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>Description</B></TD></TR>


<TR>
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<TD VALIGN="top" NOWRAP>10.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Employment Agreement dated February 5, 2014, by and between the Company and James T. Hippel.</TD></TR>
<TR>
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<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Press Release dated February 6, 2014, announcing James T. Hippel as Chief Financial Officer of the Company</TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>EMPLOYMENT AGREEMENT</U></B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Employment Agreement (the &#147;Agreement&#148;) is made and entered into between Techne Corporation, a Minnesota corporation, and James
T. Hippel (each may be referred to individually as a &#147;Party&#148; and collectively as the &#147;Parties&#148;). </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RECITALS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Whereas, Techne wishes to employ Employee under the terms and conditions set forth in this Agreement, and Employee wishes to accept such
employment under the terms and conditions set forth in this Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of the foregoing and of the
mutual covenants contained herein, Techne and Employee agree as follows: </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 1. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">TERM OF EMPLOYMENT: DUTIES AND SUPERVISION </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.1) <U>Parties</U>. The Parties to this Agreement are James T. Hippel (&#147;Employee&#148;) and Techne Corporation (&#147;Techne&#148;). As
used herein, Techne refers to Techne Corporation and its subsidiaries, including but not limited to Research and Diagnostic Systems, Inc. (&#147;R&amp;D&#148;), unless specifically provided otherwise. All of the rights and obligations created by
this Agreement may be performed by or enforced by or against Techne or R&amp;D or any other appropriate Techne subsidiary. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.2)
<U>Employment and Term of Employment</U>. Techne hereby employs Employee and Employee hereby accepts employment as Vice President of Finance and Chief Financial Officer on the terms and conditions set forth in this Agreement. Employee&#146;s
employment hereunder will commence on April&nbsp;1, 2014 and continue through March&nbsp;31, 2017 (hereinafter the &#147;Term&#148;) unless earlier terminated as provided in Article 4 hereof. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.3) <U>Duties and Supervision</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">A. During the term of his employment, Employee agrees to devote his full business and professional time, energy, diligence and best efforts to
the business and affairs of Techne, and to perform such services and duties Employee may from time to time be assigned by Techne, and specifically its Chief Executive Officer. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">B. Employee agrees to be subject to Techne&#146;s control, rules, regulations, policies and programs. Employee further agrees that he will
carry on all correspondence, publicity and advertising in Techne&#146;s name and he shall not enter into any contract on behalf of Techne except as expressly authorized by Techne. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 2. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">COMPENSATION AND BENEFITS </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.1)
<U>Base Salary</U>. During the period of April&nbsp;1, 2014 through March&nbsp;31, 2015, Techne will pay Employee as base compensation for services to be rendered hereunder an annual base salary of Three Hundred Fifty Thousand Dollars ($350,000), to
be paid bi-weekly or in accordance with the usual payroll practices of Techne. The base annual salary amount will be reviewed and adjusted by Techne&#146;s Executive Compensation Committee from time to time (but no less than annually) in its sole
discretion. The base annual salary will be inclusive of all applicable income, Social Security, and other taxes and charges that are required by law to be withheld by Techne or that are requested to be withheld by Employee. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.2) <U>Management Incentive Plan</U>. During each fiscal year of the Term of Employee&#146;s employment (starting with Techne&#146;s 2015
fiscal year, which begins July&nbsp;1, 2014), Employee shall be eligible to participate in Techne&#146;s Management Incentive Plan (the &#147;Management Incentive Plan&#148;). For fiscal year 2015, upon approval by Techne&#146;s Executive
Compensation Committee of the terms of the Management Incentive Plan, Employee shall be eligible to earn a cash bonus targeted at fifty percent (50%)&nbsp;of his base salary based on achievement of targets to be approved by Techne&#146;s Board of
Directors or Executive Compensation Committee. After receipt of Techne&#146;s final audit report of the applicable fiscal year, Techne&#146;s Executive Compensation Committee will determine and certify in writing the degree to which the annual
targets have been achieved and calculate the portion of Employee&#146;s potential cash bonus (if any) that will be paid. If earned, any such cash bonus will be paid as soon as administratively practicable thereafter, but in no event later than would
be permitted under the short-term deferral period defined by Section&nbsp;409A of the Internal Revenue Code of 1986, as amended (&#147;Code Section&nbsp;409A&#148;). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.3) <U>Long-term Equity Awards</U>. Upon commencement of employment under Section&nbsp;1.2 of this Agreement, Techne will grant to Employee a
time-vested stock option to purchase an aggregate of Twenty-Five Thousand (25,000)&nbsp;shares of common stock in Techne, a performance-vested stock option to purchase an aggregate of Ten Thousand (10,000)&nbsp;shares of Techne common stock, and a
grant of Five Thousand (5,000)&nbsp;restricted stock units, which will have a three year vesting schedule. These equity grant awards shall be in substantially the forms attached as <U>Exhibits A</U>, <U>B</U> and <U>C</U><I>,</I> respectively, to
this Agreement. Executive also will be eligible to participate in and receive additional grants commensurate with his position and level in any equity-based or equity related compensation plan, programs or agreements of Techne made available
generally to its senior executives; provided that the amount, timing, and other terms of any future grant shall be determined by the Techne Board of Directors, or its designated committees, in its sole discretion. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.5) <U>Miscellaneous Benefits</U>. Techne will provide Employee the following additional benefits: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">A. Reimbursement in accordance with Techne&#146;s standard reimbursement policies in effect from time to time for ordinary, necessary and
reasonable out-of-pocket business expenses incurred by Employee in performing his duties for Techne so long as properly substantiated. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Page 2 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">B. Paid vacation of four (4)&nbsp;weeks per calendar year, prorated for partial years of service,
to be taken at such times as selected by Employee and as approved by the Chief Executive Officer or his designee. Carryover, forfeiture or payout of unused vacation time from period to period or upon termination of employment shall be in accordance
with Techne&#146;s policies that may be in effect from time to time. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">C. Reimbursement for reasonable travel expenses (per discretion of
the Company) for weekly commuting between California and Minnesota through June&nbsp;30, 2014 as well as three round trip tickets for Employee&#146;s spouse. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">D. Upon commencement of employment under Section&nbsp;1.2 of this Agreement, a relocation payment of One Hundred Twenty Thousand Dollars
($120,000), less applicable deductions and withholding, provided that if Employee terminates his employment prior to March&nbsp;31, 2015, Employee will be required to repay a pro rata portion of such amount. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">E. Reimbursement for reasonable annual premium costs for supplemental term life insurance and supplemental short-term and long-term disability
insurance policies that, when combined with the coverage provided under Techne&#146;s standard employee benefits plans, provide for aggregate coverage equal to three times Employee&#146;s base salary for life insurance and 70% and 60% of
Employee&#146;s base salary, respectively, for short-term and long-term disability, which reimbursement amount shall include an additional reasonable gross up amount to cover taxes incurred by Employee from receipt of the reimbursement payment. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.6) <U>Other Employee Compensation and Benefits</U>. In addition to the compensation and benefits provided to Employee in Sections 2.1 through
2.5 hereof, Employee will be entitled to participate in other employee compensation and benefit plans from time to time established by Techne and made available generally to all employees to the extent that Employee&#146;s age, tenure and title make
him eligible to receive those benefits. Employee will participate in such compensation and benefit plans on an appropriate and comparable basis determined by the Board of Directors by reference to all other employees eligible for participation. With
regard to all insured benefits to be provided to Employee, benefits shall be subject to due application by Employee. Techne has no obligation to pay insured benefits directly and such benefits are payable to Employee only by the insurers in
accordance with their policies. Nothing in this Agreement is intended to or shall in any way restrict Techne&#146;s right to amend, modify or terminate any of its benefits or benefit plans during the term of Employee&#146;s employment. Employee
shall not be reimbursed for unused personal days or sick days upon his termination from employment regardless of the reason, whether voluntary or involuntary. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Page 3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 3. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">INVENTIONS, PROPRIETARY INFORMATION AND UNFAIR COMPETITION </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.1) <U>Prior Agreement</U>. Neither the execution of this Agreement nor any provision in it shall be interpreted as rescinding or revoking
the &#147;Employee Agreement With Respect To Inventions, Proprietary Information, and Unfair Competition&#148; previously entered into between Techne and Employee as of even date herewith (the &#147;Prior Inventions, Proprietary Information, and
Unfair Competition Agreement&#148;). Techne and Employee hereby agree that the terms and conditions of such Prior Inventions, Proprietary Information, and Unfair Competition Agreement shall continue in full force and effect and shall apply to all
businesses of Techne, including not only business conducted by Techne but also to business conducted through Techne or any subsidiary or venture of Techne now existing or hereafter created. The termination of this Agreement or Employee&#146;s
employment shall not terminate Employee&#146;s obligations under the Prior Inventions, Proprietary Information, and Unfair Competition Agreement, the terms and conditions of which shall survive termination of this Agreement and termination of
Employee&#146;s employment for any reason, whether voluntary or involuntary. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 4. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">TERMINATION </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.1) <U>Events of
Termination</U>. Notwithstanding any other provision of this Agreement to the contrary or appearing to be to the contrary, Employee&#146;s employment may be terminated as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">A. By mutual written agreement of the parties; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">B. Upon Employee&#146;s death; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">C. Upon Employee&#146;s inability to perform the essential functions of his position due to physical or mental disability, with or without
reasonable accommodation, as determined in the good faith judgment of the Techne Board of Directors, and such inability continues for a period of ninety (90)&nbsp;calendar days or as may otherwise be required by applicable law. Nothing in this
Section&nbsp;4.1(C) shall limit the right of either Party to terminate Employee&#146;s employment under one of the other sections of this Section&nbsp;4.1; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">D. By either Party upon written notice to the other Party; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">E. Upon the insolvency or bankruptcy of Techne; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">F. In the event of a Change in Control, as set forth in Section&nbsp;5.1, provided that the severance provisions of Section&nbsp;5.1 of this
Agreement are met; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Page 4 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">G. Techne shall have the right to terminate Employee&#146;s employment immediately for
&#147;Cause.&#148; For purposes of this Agreement, &#147;Cause&#148; shall include, but not be limited to, the following: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">i. Habitual neglect of, or the willful or material failure to perform the duties of employment hereunder, as determined in good
faith by the Board of Directors of Techne and/or its designee; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">ii. Embezzlement or any act of fraud; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">iii. Commission of acts that can be charged as a felony, whether or not committed during the term hereof or in the course of
employment hereunder; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">iv. Dishonesty in dealing between Employee and Techne or between Employee and other employees of
Techne; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">v. Use of or dependence on any controlled substance without a prescription, or any illegal or narcotic drug; or
use of alcohol in a manner, regardless of time or place, which either adversely affects Employee&#146;s job performance or otherwise reflects negatively on Techne or Employee; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">vi. Habitual absenteeism; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">vii. Willfully acting in a manner materially adverse to the best interests of Techne. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.2) <U>Return of Property</U>. At such time that Employee&#146;s employment with Techne ends (the &#147;Termination Date&#148;) or at such
earlier time as Techne may notify Employee, Employee will immediately cease doing business upon Techne&#146;s premises and will immediately deliver to Techne all of its property and all property to be held by Techne in his possession or control,
including, but not limited to, all work in progress, data, equipment, originals and copies of documents and software, customer and supplier information and lists, financial information, and all other materials. In addition, if Employee has used any
personal computer, server, or email system (including, but not limited to, computers, Blackberries, PDA&#146;s, cell phones, smart phones, iPhones, iPads, etc.) to receive, store, review, prepare or transmit any Techne information, including but not
limited to Confidential Information (as defined below), Employee agrees to provide Techne with a computer-useable copy of all such Confidential Information and then permanently delete and expunge such information from those systems. Employee also
agrees to certify, within ten (10)&nbsp;days after the Termination Date, in writing to Techne that he has complied with his obligation to return Techne property. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">A. For purposes of this Agreement, &#147;Confidential Information&#148; means information which is not generally known and which Techne holds
in confidence, including, without limitation, the following: all information and data developed or acquired by Employee in the course of employment with Techne; data or conclusions or opinions formed by Employee in the course of employment; policies
and procedures; manuals; trade secrets; methods, procedures, or techniques pertaining to the business of Techne or any customer of Techne; specifications for products or services; systems; price lists; marketing plans; sales or service analyses;
financial </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Page 5 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
information; customer names or other information; vendor names or other information; employee names or other information; research and development data; diagrams; drawings; media; notes,
memoranda, notebooks, and all other records or documents that are handled, seen, or used by Employee in the course of employment. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">B.
Notwithstanding anything to the contrary, &#147;Confidential Information&#148; does not include any information that is (i)&nbsp;in the public domain or enters the public domain through no violation of obligations Employee owes to Techne;
(ii)&nbsp;disclosed to Employee other than as a result of Employee&#146;s capacity as an employee of Techne by a third-party not subject to maintain the information in confidence; or (iii)&nbsp;already known by Employee other than as a result of
Employee&#146;s past relationship with Techne (or its predecessors) and is evidenced by written documentation existing prior to such disclosure. Specific technical and business information shall not be deemed to be within the preceding exceptions
merely because it is embraced by more general technical or business information within such exceptions, nor shall a combination of features be deemed to be within such exceptions merely because the individual features are within such exceptions.
</P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 5. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">TERMINATION
BENEFITS </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.1) <U>Payment Upon Termination</U>. Upon (i)&nbsp;termination of Employee&#146;s employment other than by Techne for Cause as
defined in Section&nbsp;4.1(G) or upon Employee&#146;s death or disability as provided in Sections 4.1(B) and (C), or (ii)&nbsp;Employee&#146;s resignation for Good Reason, as defined below, Employee will be paid an amount equal to one (1)&nbsp;year
of his then-current base annual salary (but not any cash or incentive bonus) (hereinafter referred to as the &#147;Termination Severance Payment&#148;); provided, however, that Employee shall be entitled to the Termination Severance Payment set
forth in this Section&nbsp;5.1 only if he executes, does not rescind, and fully complies with a release agreement in a form supplied by Techne, which will include, but not be limited to, a comprehensive release of claims against Techne and its
directors, officers, employees and all related parties, in their official and individual capacities; provided, however, that the release will not include amounts owed under any deferred compensation program or any worker&#146;s compensation claims.
As used in this Agreement, &#147;Good Reason&#148; means a good faith determination by Employee that any one or more of the following events have occurred; provided, however, that such event shall not constitute &#147;Good Reason&#148; if Employee
has expressly consented to such event in writing or if Employee fails to provide written notice of his decision to terminate within sixty (60)&nbsp;calendar days of the occurrence of such event: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A. A change in Employee&#146;s reporting responsibilities, titles or offices, or any removal of Employee from any of such positions, which has
the effect of diminishing Employee&#146;s responsibility or authority; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">B. A material reduction by Techne in Employee&#146;s total
compensation from that provided to him under this Agreement; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Page 6 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">C. A requirement imposed by Techne on Employee that results in Employee being based at a location
that is outside a fifty (50)&nbsp;mile radius of Techne; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">D. The existence of physical working conditions or requirements that a
reasonable person in Employee&#146;s position would find to be intolerable; provided, however, that Techne has received written notice of such &#147;intolerable&#148; conditions and Techne has failed within thirty (30)&nbsp;calendar days after
receipt of such notice to cure or otherwise appropriately address such &#147;intolerable&#148; conditions. Termination for &#147;Good Reason&#148; shall not include Employee&#146;s termination as a result of death, disability, retirement or a
termination for any reason other than the events specified in clauses (A)&nbsp;through (D)&nbsp;in this Section&nbsp;5.1. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.2) <U>Payment
Upon Termination for Change in Control</U>. If there is a Change in Control, as defined below, and Employee&#146;s employment is terminated upon consummation of such Change in Control or within one (1)&nbsp;year thereafter, Employee will be paid an
amount equal to one (1)&nbsp;year of his then-current base annual salary plus the pro-rated value of any incentive compensation earned through the date of such termination pursuant to Section&nbsp;2.2 above and the automatic acceleration of any
vesting requirements of the equity grants awarded under Section&nbsp;2.3 above (hereinafter referred to as the &#147;CIC Severance Payment&#148;); provided, however, that Employee shall be entitled to the CIC Severance Payment set forth in this
Section&nbsp;5.2 only if he executes, does not rescind, and fully complies with a release agreement in a form supplied by Techne, which will include, but not be limited to, a comprehensive release of claims against Techne and its directors,
officers, employees and all related parties, in their official and individual capacities; provided, however, that the release will not include amounts owed under any deferred compensation program or any worker&#146;s compensation claims.
&#147;Change of Control&#148; shall mean the occurrence, in a single transaction or in a series of related transactions, of any one or more of the events in subsections (A)&nbsp;through (C)&nbsp;below. For purposes of this definition, a person,
entity or group shall be deemed to &#147;Own,&#148; to have &#147;Owned,&#148; to be the &#147;Owner&#148; of, or to have acquired &#147;Ownership&#148; of securities if such person, entity or group directly or indirectly, through any contract,
arrangement, understanding, relationship or otherwise, has or shares voting power, which includes the power to vote or to direct the voting, with respect to such securities. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">A. Any person, entity or group becomes the Owner, directly or indirectly, of securities of Techne representing more than fifty percent
(50%)&nbsp;of the combined voting power of Techne&#146;s then outstanding securities other than by virtue of a merger, consolidation or similar transaction. Notwithstanding the foregoing, a Change in Control shall not be deemed to occur (A)&nbsp;on
account of the acquisition of securities of Techne by an investor, any affiliate thereof or any other person, entity or group from Techne in a transaction or series of related transactions the primary purpose of which is to obtain financing for
Techne through the issuance of equity securities or (B)&nbsp;solely because the level of Ownership held by any person, entity or group (the &#147;Subject Person&#148;) exceeds the designated percentage threshold of the outstanding voting securities
as a result of a repurchase or other acquisition of voting securities by Techne reducing the number of shares outstanding, provided that if a Change in Control would occur (but for the operation of this sentence) as a result of the acquisition of
voting securities by Techne, and after such share acquisition, the Subject Person becomes the Owner of any additional voting securities that, assuming the repurchase or other acquisition had not occurred, increases the percentage of the then
outstanding voting securities Owned by the Subject Person over the designated percentage threshold, then a Change in Control shall be deemed to occur; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Page 7 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">B. There is consummated a merger, consolidation or similar transaction involving (directly or
indirectly) Techne and, immediately after the consummation of such merger, consolidation or similar transaction, the stockholders of Techne immediately prior thereto do not Own, directly or indirectly, either (A)&nbsp;outstanding voting securities
representing more than fifty percent (50%)&nbsp;of the combined outstanding voting power of the surviving entity in such merger, consolidation or similar transaction or (B)&nbsp;more than fifty percent (50%)&nbsp;of the combined outstanding voting
power of the parent of the surviving entity in such merger, consolidation or similar transaction, in each case in substantially the same proportions as their Ownership of the outstanding voting securities of Techne immediately prior to such
transaction; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">C. There is consummated a sale, lease, exclusive license or other disposition of all or substantially all of the total
gross value of the consolidated assets of Techne and its subsidiaries, other than a sale, lease, license or other disposition of all or substantially all of total gross value of the consolidated assets of Techne and its subsidiaries to an entity,
more than fifty percent (50%)&nbsp;of the combined voting power of the voting securities of which are Owned by stockholders of Techne in substantially the same proportions as their Ownership of the outstanding voting securities of Techne immediately
prior to such sale, lease, license or other disposition (for purposes of this Section&nbsp;5.1(C), &#147;gross value&#148; means the value of the assets of Techne or the value of the assets being disposed of, as the case may be, determined without
regard to any liabilities associated with such assets). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For the avoidance of doubt, the term Change in Control shall not include a sale
of assets, merger or other transaction effected exclusively for the purpose of changing the domicile of Techne. To the extent required, the determination of whether a Change in Control has occurred shall be made in accordance with Code
Section&nbsp;409A and the regulations, notices and other guidance of general applicability issued thereunder. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.3) <U>Timing of Cash
Severance Payment</U>. Any cash payments pursuant to Section&nbsp;5.1 or 5.2 will be paid to Employee monthly over the course of a one-year period beginning after expiration of any applicable rescission periods set forth in the required release
agreement; provided, however, that notwithstanding anything in this Agreement to the contrary, if any of the payments described in Section&nbsp;5.1 or 5.2 are subject to the requirements of Code Section&nbsp;409A and Techne determines that Employee
is a &#147;specified employee&#148; as defined in Code Section&nbsp;409A as of the date of Employee&#146;s termination of employment, such payments will not be paid or commence earlier than the first day of the seventh month following the date of
Employee&#146;s termination of employment and on such date any amounts that would have been paid during the first six months following the termination but for operation of this proviso will be paid in one lump sum with the remaining payments made
monthly over the remainder of the specified one-year period. In addition, all payments made to Employee pursuant to Section&nbsp;5.1 or 5.2 will be reduced by amounts (A)&nbsp;required to be withheld in accordance with federal, state and local laws
and regulations in effect at the time of payment, or (B)&nbsp;owed to Techne by Employee for any </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Page 8 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
amounts advanced, loaned or misappropriated. Such offset will be made in the manner permitted by and will be subject to the limitations of all applicable laws, including but not limited to Code
Section&nbsp;409A, and the regulations, notices and other guidance of general applicability issued thereunder. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.4) <U>No Other
Payments</U>. Except as provided in Section&nbsp;5.1 and 5.2, including but not limited to if Employee is terminated with Cause or voluntarily terminates his employment at any time without Good Reason, Employee will not be entitled to any
compensation or benefits other than that which was due to him as of the date of termination, regardless of any claim by Employee for compensation, salary, bonus, severance benefits or other payments. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 6. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARBITRATION </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.1) <U>Arbitration</U>. Any dispute arising out of or relating to (i)&nbsp;this Agreement or the alleged breach of it, or the making of this
Agreement, including claims of fraud in the inducement, or (ii)&nbsp;Employee&#146;s application or candidacy for employment, employment and/or termination of employment with Techne including, but not limited to, any and all disputes, claims or
controversies relating to discrimination, harassment, retaliation, wrongful discharge, and any and all other claims of any type under any federal or state constitution or any federal, state, or local statutory or common law shall be discussed
between the disputing Parties in a good faith effort to arrive at a mutual settlement of any such controversy. If, notwithstanding, such dispute cannot be resolved, such dispute shall be settled by binding arbitration. Judgment upon the award
rendered by the arbitrator may be entered in any court having jurisdiction thereof. The arbitrator shall be a retired state or federal judge or an attorney who has practiced securities or business litigation for at least 10 years. If the Parties
cannot agree on an arbitrator within 20 days, any Party may request that the chief judge of the District Court for Hennepin County, Minnesota, select an arbitrator. Arbitration will be conducted pursuant to the provisions of this Agreement, and the
commercial arbitration rules of the American Arbitration Association, unless such rules are inconsistent with the provisions of this Agreement, but without submission of the dispute to such Association. Limited civil discovery shall be permitted for
the production of documents and taking of depositions. Unresolved discovery disputes may be brought to the attention of the arbitrator who may dispose of such dispute. The arbitrator shall have the authority to award any remedy or relief that a
court of this state could order or grant; provided, however, that punitive or exemplary damages shall not be awarded. The arbitrator may award to the prevailing Party, if any, as determined by the arbitrator, all of its costs and fees, including the
arbitrator&#146;s fees, administrative fees, travel expenses, out-of-pocket expenses and reasonable attorneys&#146; fees. Unless otherwise agreed by the Parties, the place of any arbitration proceedings shall be Hennepin County, Minnesota. This
agreement to arbitrate does not include worker&#146;s compensation claims, claims for unemployment compensation, or any injunctive or other relief to which the Techne may be entitled in accordance with the Prior Inventions, Proprietary Information,
and Unfair Competition Agreement referred to in Section&nbsp;4.1 herein. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Page 9 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 7. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">MISCELLANEOUS PROVISIONS </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.1
<U>Modifications</U>. Except as provided in Section&nbsp;4.1 above, this Agreement supersedes all prior agreements and understandings between the Parties relating to the employment of Employee by Techne and it may not be changed or terminated
orally. No modification, termination, or attempted waiver of any of the provisions of this Agreement will be valid unless in writing signed by the Party against whom the same is sought to be enforced. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.2) <U>Binding Effect</U>. The breach by Techne of any other agreement or instrument between Techne and Employee will not excuse or waive
Employee&#146;s performance under, or compliance with, this Agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.3 <U>Governing Law</U>. This Agreement will be governed by and
construed in accordance with the laws of the State of Minnesota, without regard to conflicts of law principles that would require the application of any other law. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.4 <U>Successors and Assigns</U>. This Agreement is personal to Employee and Employee may not assign or transfer any part of his rights or
duties hereunder, or any compensation due to him hereunder, to any other person. This Agreement may be assigned by Techne. This Agreement is binding on any successors or assigns of Techne. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.5 <U>Captions</U>. The captions set forth in this Agreement are for convenience only and shall not be considered as part of this Agreement or
as in any way limiting or amplifying the terms and conditions hereof. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.6 <U>No Conflicting Obligations</U>. Employee represents and
warrants to Techne that he is not under, or bound to be under in the future, any obligation to any person, firm, or corporation that is or would be inconsistent or in conflict with this Agreement or would prevent, limit, or impair in any way the
performance by him of his obligations hereunder. If Employee possesses any information that he knows or should know is considered by any third party, such as a former employer of Employee&#146;s to be confidential, trade secret, or otherwise
proprietary, Employee shall not disclose such information to Techne or use such information to benefit Techne in any way. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.7
<U>Waivers</U>. The failure of any Party to require the performance or satisfaction of any term or obligation of this Agreement, or the waiver by any Party of any breach of this Agreement, will not prevent subsequent enforcement of such term or
obligation or be deemed a waiver of any subsequent breach. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.8 <U>Severability</U>. In the event that any provision hereof is held invalid
or unenforceable by a court of competent jurisdiction, Techne and Employee agree that part should modified by the court to make it enforceable to the maximum extent possible. If the part cannot be modified, then that part may be severed and the
other parts of this Agreement shall remain enforceable. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Page 10 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.9 <U>Code Section&nbsp;409A</U>. Notwithstanding any other provision of this Agreement to the
contrary, the Parties to this Agreement intend that this Agreement will satisfy the applicable requirements, if any, of Code Section&nbsp;409A in a manner that will preclude the imposition of additional taxes and interest imposed under Code
Section&nbsp;409A. The Parties agree that this Agreement will be amended (as determined by Techne in its sole discretion) to the extent necessary to comply with Code Section&nbsp;409A, as amended from time to time, and the notices and other guidance
of general applicability issued thereunder. Further, if any of the payments described in this Agreement are subject to the requirements of Code Section&nbsp;409A and Techne determines that Employee is a &#147;specified employee&#148; as defined in
Code Section&nbsp;409A as of the date of Employee&#146;s termination of employment (which will have the same meaning as &#147;separation from service&#148; as defined in Code Section&nbsp;409A), all or a portion of such payments will not be paid or
commence earlier than the first day of the seventh month following the date of Employee&#146;s termination of employment, but only to the extent such delay is required for compliance with Code Section&nbsp;409A. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.10 <U>Notices</U>. All notices given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given, delivered
and received (A)&nbsp;upon personal delivery to the Party to be notified; (B)&nbsp;when sent by facsimile if sent during normal business hours of the recipient, and if not sent during normal business hours then on the next business day;
(C)&nbsp;five (5)&nbsp;calendar days after having been sent by registered or certified mail, return receipt requested, postage prepaid; or (D)&nbsp;one (1)&nbsp;business day after the business day of deposit with a nationally recognized overnight
courier, specifying next-day delivery, with written verification of receipt. All communications shall be sent to the respective parties at their addresses set forth below, or to such facsimile numbers, or addresses as subsequently modified by
written notice given in accordance with this Section: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="11%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="15%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="69%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">(a)</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3">If to Techne:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Techne Corporation</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Attention: Chair, Board of Directors</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">614 McKinley Place Northeast</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Minneapolis, MN 55413</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">(b)</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3">If to the Employee:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">James T. Hippel</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">2294 Minerva Court</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Livermore, CA 94550</TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.11 <U>Construction</U>. The Parties agree that the terms and provisions of this Agreement embody their mutual
intent, each Party has had the opportunity to negotiate its provisions and contribute to its drafting, and therefore, it is not to be construed more liberally in favor of, or more strictly against, any Party hereto. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.12 <U>Counterparts</U>. This Agreement may be executed in one or more counterparts, each of which will be deemed to be an original of this
Agreement and all of which, when taken together, will be deemed to constitute one and the same agreement. Electronically transmitted (e.g., by facsimile or pdf) signed copies of this Agreement shall be deemed to be original signed versions of this
Agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Page 11 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.13 <U>Section&nbsp;280G</U>. Notwithstanding anything to the contrary contained in this
Agreement, to the extent that any of the payments and benefits provided for under this Agreement or any other agreement or arrangement between the Employee and the Techne (collectively, the &#147;Payments&#148;) constitute a &#147;parachute
payment&#148; within the meaning of Section&nbsp;280G of the Code and, but for this Section&nbsp;7.13, would be subject to the excise tax imposed by Section&nbsp;4999 of the Code, then the Payments shall be payable either (i)&nbsp;in full or
(ii)&nbsp;as to such lesser amount which would result in no portion of such Payments being subject to excise tax under Section&nbsp;4999 of the Code; whichever of the foregoing amounts, taking into account the applicable federal, state and local
income taxes and the excise tax imposed by Section&nbsp;4999, results in the Employee&#146;s receipt on an after-tax basis, of the greatest amount of economic benefits under this Agreement, notwithstanding that all or some portion of such benefits
may be taxable under Section&nbsp;4999 of the Code. Unless the Employee and Techne otherwise agree in writing, any determination required under this Section&nbsp;7.13 shall be made in writing by Techne&#146;s independent public accountants (the
&#147;Accountants&#148;), whose reasonable determination shall be conclusive and binding upon Employee and Techne for all purposes. For purposes of making the calculations required by this Section&nbsp;7.13, the Accountants may make reasonable
assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith interpretations concerning the application of the Sections 280G and 4999 of the Code. Employee and Techne shall furnish to the Accountants such
information and documents as the Accountants may reasonably request in order to make a determination under this Section&nbsp;7.13. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Signatures follow on the next page(s).) </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">THE PARTIES HAVE executed this Agreement in the manner appropriate to each as of the dates set
forth below. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" COLSPAN="3">TECHNE CORPORATION</TD>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Charles R. Kummeth</P></TD>
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<TD VALIGN="top"><U>February&nbsp;5, 2014</U></TD></TR>
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<TD VALIGN="top" COLSPAN="3">Its Chief Executive Officer</TD>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">TECHNE CORPORATION ANNOUNCES APPOINTMENT OF JAMES T. HIPPEL AS CHIEF FINANCIAL OFFICER </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Minneapolis/February 6, 2014/ Techne Corporation (NASDAQ:TECH) announces the appointment of James T. Hippel as Chief Financial Officer (CFO) effective
April&nbsp;1, 2014. Mr.&nbsp;Hippel is a finance executive with experience in several globally diverse technology businesses, including extensive experience with mergers, acquisitions, and operations integration. Mr.&nbsp;Hippel replaces Greg Melsen
who resigned effective February&nbsp;3, 2014 and who served as Techne&#146;s VP Finance/CFO since December 2004. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Since May 2012, Mr.&nbsp;Hippel has
served as Senior Vice President and CFO for Mirion Technologies, Inc., a $300 million global technology and manufacturing company which provides mission critical products to detect, monitor and identify radiation. Prior to Mirion, Mr.&nbsp;Hippel
served as Vice President, Finance at Thermo Fisher Scientific, Inc., leading finance operations for its $2 billion Mass Spectrometry&nbsp;&amp; Chromatography and $1 billion Laboratory Consumables divisions. Mr.&nbsp;Hippel&#146;s experience also
includes nine years of progressive financial leadership at Honeywell International, within its Aerospace Segment. Mr.&nbsp;Hippel began his career with KPMG Peat Marwick LLP. He has a proven track record of supporting strategic plans with the
infrastructure and capital allocation that generate significant long-term returns, developing performance metrics that drive near-term execution, and building impactful high performance teams. He holds a Masters in Business Administration from
Arizona State University and a Bachelor of Accountancy degree from Northern Arizona University. He will relocate with his family from California to Minnesota. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;I&#146;ve known Jim since my days at Thermo Fisher and am ecstatic that he has chosen to come on board at Techne as CFO. He brings tremendous skills in
finance, global operations, and executable strategies for growth. He is the right person at the right time for Techne&#148;, said Charles Kummeth, President/CEO of Techne. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">About Techne Corporation </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Techne Corporation and Subsidiaries
(the Company) are engaged in the development, manufacture and sale of biotechnology products and hematology calibrators and controls. These activities are conducted through the Company&#146;s two operating subsidiaries: Research and Diagnostic
Systems, Inc. (R&amp;D Systems) of Minneapolis, Minnesota and R&amp;D Systems Europe, Ltd. (R&amp;D Europe) of Abingdon, England. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">R&amp;D Systems is a specialty manufacturer of biological products. R&amp;D Systems has four subsidiaries:
BiosPacific, Inc. (BiosPacific), located in Emeryville, California, Boston Biochem, Inc., located in Cambridge, Massachusetts, Bionostics Holdings Limited (Bionostics), operating in Devens, Massachusetts, and R&amp;D Systems China Co. Ltd., (R&amp;D
China), located in Shanghai, China. BiosPacific is a worldwide supplier of biologics to manufacturers of in vitro diagnostic systems and immunodiagnostic kits. Boston Biochem is a leading developer and manufacturer of ubiquitin-related research
products. Bionostics is a leading supplier of control solutions used in point of care blood glucose and blood gas testing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">R&amp;D China and R&amp;D
Europe distribute the Company&#146;s biotechnology products. R&amp;D Europe has two subsidiaries: Tocris Holdings Ltd. (Tocris) of Bristol, England and R&amp;D Systems GmbH, a German sales operation. Tocris is a leading supplier of chemical reagents
for non-clinical life science research. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Forward-Looking Statements </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Certain statements found in this release may constitute forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements reflect the speaker&#146;s current views with respect to future events and financial performance and include any statement that does not directly relate to a current or historical fact. Forward-looking statements can
generally be identified by the words &#147;believe,&#148; &#147;expect,&#148; &#147;anticipate&#148; or &#147;intend&#148; or similar words. The following important factors, among others, have affected and, in the future, could affect the
Company&#146;s actual results: the integration of new leadership, the introduction and acceptance of new biotechnology and hematology products, the levels and particular directions of research by the Company&#146;s customers, the impact of the
growing number of producers of biotechnology research products and related price competition, general economic conditions, the impact of currency exchange rate fluctuations, and the costs and results of research and product development efforts of
the Company and of companies in which the Company has invested or with which it has formed strategic relationships. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For additional information concerning
such factors, see the section titled &#147;Risk Factors&#148; in the Company&#146;s annual report on Form 10-K and quarterly reports on Form 10-Q as filed with the Securities and Exchange Commission. We undertake no obligation to update or revise
any forward-looking statements we make in our press releases due to new information or future events. Investors are cautioned not to place undue emphasis on these statements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Contact </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Charles Kummeth </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Chief Executive Officer </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Techne Corporation </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(612) 379-8854 </P>
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