Exhibit 10

FOURTH AMENDMENT

TO

LOAN AND SECURITY AGREEMENT

This Fourth Amendment to Loan and Security Agreement is entered into as of
June 27, 2006 (the “Amendment”), by and between COMERICA BANK (“Bank”) and
ORASURE TECHNOLOGIES, INC. (“Borrower”).

RECITALS

Borrower and Bank are parties to that certain Loan and Security Agreement, dated
as of September 10, 2002, as amended by a First Amendment to Loan and Security
Agreement, dated as of May 23, 2003, a Second Amendment to Loan and Security
Agreement, dated as of September 12, 2003, and a Third Amendment to Loan and
Security Agreement, dated as of April 21, 2004 (collectively, the “Agreement”).
The parties desire to amend the Agreement in accordance with the terms of this
Amendment.

NOW, THEREFORE, the parties agree as follows:

1. Certain defined terms in Section 1.1 of the Agreement are hereby added or
amended and restated to read as follows:

“Credit Extension” means the Mortgage Advance, each Non-Revolving Advance, each
Revolving Advance, each Equipment Term Loan, the Term Advance, the Expansion
Advances, or any other extension of credit by Bank for the benefit of Borrower
hereunder.

“Expansion Advances” means a cash advance or advances under Section 2.1(f).

“Expansion Advance Maturity Date” means June 27, 2011.

“Fixed Rate Advance” means a Credit Extension where the Borrower elects to pay
interest on such Credit Extension at a fixed rate of interest pursuant to
Section 2.3(a)(ii)(C), 2.3(a)(iii)(C), 2.3(a)(iv)(B) or 2.1(f)(ii) hereof.

“LIBOR Advance” means a Credit Extension where the Borrower elects to pay
interest on such Credit Extension at a fixed rate of interest pursuant to
Section 2.3(a)(i)(B), 2.3(a)(ii)(B), 2.3(a)(iii)(B) or 2.1(f)(i) hereof.

“Property” means the real property and improvements thereon located at 1745
Eaton Avenue, Bethlehem, Pennsylvania, and solely for the purpose of Section 7.5
hereof, shall also include the real property and improvements thereon located at
220 East First Street and 150 Webster Street, Bethlehem, Pennsylvania.

2. Section 2.1(f) is added to the Agreement, as follows:

(f) Expansion Advances. On or before July 7, 2006, Borrower may request, and
Bank shall make one (1) or more Expansion Advances (the “Initial Expansion
Advances”) in

 

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an amount of up to $10,000,000. Thereafter, Borrower may request additional
Expansion Advances in an aggregate amount of up to $5,000,000 at any time before
June 30, 2007. Borrower shall use the proceeds of the Expansion Advances to fund
the purchase of the facilities and land at 220 East First Street and 150 Webster
Street in Bethlehem, Pennsylvania, an expansion project at 220 East First Street
and all costs and expenses related to the foregoing. The outstanding balance of
Expansion Advances shall bear interest, at the option of Borrower, at any of the
following rates: (i) if Borrower elects to have a floating interest rate, a rate
per annum equal to 30-day, 180-day or 360-day LIBOR plus (a) 125 basis points if
Borrower invests and retains less than $10,000,000 with Comerica Securities,
Inc., (b) 90 basis points if Borrower invests and retains at least $10,000,000
with Comerica Securities, Inc., (c) 75 basis points if Borrower invests and
retains at least $25,000,000 with Comerica Securities, Inc., and (d) 55 basis
points if Borrower invests and retains at least $40,000,000 with Comerica
Securities, Inc., or (ii) if Borrower elects to have a fixed interest rate, a
rate per annum equal to the 5-year Treasury Note Rate plus (a) 1.73% basis
points if Borrower invests and retains less than $10,000,000 with Comerica
Securities, Inc., (b) 1.38% if Borrower invests and retains at least $10,000,000
with Comerica Securities, Inc., (c) 1.23% if Borrower invests and retains at
least $25,000,000 with Comerica Securities, Inc., and (d) 1.03% if Borrower
invests and retains at least $40,000,000. Interest rates shall be determined
based on the investment level on the date of an Expansion Advance, and will be
adjusted, to the extent necessary, on the date that each principal payment is
due to reflect any increase or decrease in the amount of such investment above
or below the thresholds set forth in this Section as of such date. Interest
shall be payable on the first day of each month, beginning the first day of the
month after each Expansion Advance is made, and continuing for so long as any
portion of the Expansion Advances remains outstanding. Interest on Expansion
Advances shall be computed pursuant to Section 2.3(d). Borrower shall have the
right to select a different LIBOR Interest Period for each Expansion Advance
that is a LIBOR Advance pursuant to Section 2.3(e), and Borrower shall have the
right from time to time to convert any Expansion Advance that is a LIBOR Advance
to a Fixed Rate Advance on the first day of a LIBOR Interest Period pursuant to
Section 2.3(e) without penalty or premium. The initial Expansion Advances are
repayable on a 20-year amortization schedule, with the entire balance of the
unpaid principal and all amounts of accrued interest due on the Expansion
Advance Maturity Date. The principal amount of the subsequent Expansion Advances
outstanding on June 27, 2007 shall be repayable on a 19-year amortization
schedule, with the entire balance of the unpaid principal and all amounts of
accrued interest due on the Expansion Advance Maturity Date. If an Expansion
Advance is a LIBOR Advance, principal payments thereon will be made at the
expiration of each LIBOR Interest Period. If an expansion Advance is a Fixed
Rate Advance, principal payments thereon will be made on the first day of each
month, in equal monthly installments of principal and interest during the period
beginning on the date of the Expansion Advance and continuing through the
Expansion Advance Maturity Date. Borrower may prepay an Expansion Advance prior
to the Expansion Advance Maturity Date, provided that Borrower shall pay (x) a
Prepayment Penalty if the Expansion Advance is a Fixed Rate Advance and (y) a
LIBOR Prepayment Penalty if the Expansion Advance is a LIBOR Advance and such
prepayment occurs on any day other than the last scheduled day of an applicable
LIBOR Interest Period. Subject to payment of a Prepayment Penalty or LIBOR
Prepayment Penalty as provided above, each prepayment of an Expansion Advance
shall be applied first to fees, then to interest, then to principal installments
in reverse order of maturity.

 

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3. Section 6.7(b) is amended to read as follows:

(b) Minimum Liquidity. A balance of cash, cash equivalents and short-term
investments plus Excess Collateral Availability under the Revolving Facility of
not less than $25,000,000, which amount shall include at least $15,0000,000 in
cash and cash equivalents held by Bank or its Affiliates.

4. The definition of “Revolving Maturity Date” in Exhibit A is amended to read
“June 29, 2007”.

5. Bank consents to the late delivery by Borrower of a Borrowing Base
Certificate and related agings in accordance with the Agreement for the period
ended December 31, 2005.

6. Unless otherwise defined, all initially capitalized terms in this Amendment
shall be as defined in the Agreement. The Agreement, as amended hereby, shall be
and remain in full force and effect in accordance with its respective terms and
hereby is ratified and confirmed in all respects. Except as expressly set forth
herein, the execution, delivery, and performance of this Amendment shall not
operate as a waiver of, or as an amendment of, any right, power, or remedy of
Bank under the Agreement, as in effect prior to the date hereof. Borrower
ratifies and reaffirms the continuing effectiveness of all agreements entered
into in connection with the Agreement.

7. Borrower represents and warrants that the representations and warranties
contained in Section 5 of the Agreement are true and correct as of the date of
this Amendment, and that no Event of Default has occurred and is continuing.

8. This Amendment may be executed in two or more counterparts, each of which
shall be deemed an original, but all of which together shall constitute one
instrument.

9. As a condition to the effectiveness of this Amendment, Bank shall have
received, in form and substance satisfactory to Bank, the following:

(a) this Amendment, duly executed by Borrower;

(b) a non-refundable loan fee of $5,000, plus all Bank Expenses incurred in
connection with the preparation, negotiation and execution of this Amendment
(not to exceed $5,000);

(c) evidence that at least $10,000,000 of new funds has been invested with
Comerica Securities, Inc.;

(d) an officer’s certificate of Borrower with respect to incumbency and
resolutions authorizing the execution, delivery and performance of this
Amendment;

(e) an agreement to provide insurance, an automatic debit authorization, and
disbursement instructions substantially in the forms attached hereto; and

(f) such other documents, and completion of such other matters, as Bank may
reasonably deem necessary or appropriate.

 

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IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the first
date above written.

 

ORASURE TECHNOLOGIES, INC. By:  

/s/ Ronald H. Spair

Title:   CFO COMERICA BANK By:  

/s/ Charles R. Bowman

Title:   Vice President

 

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ITEMIZATION OF AMOUNT FINANCED

DISBURSEMENT INSTRUCTIONS

                    (Expansion Advance)

 

Name: ORASURE TECHNOLOGIES, INC.    Date: June     , 2006

 

    $

  

credited to deposit account No. 1892044635 when Advances are requested by
Borrower

Amounts paid to others on your behalf:

    $

  

to Comerica Bank for Loan Fee

    $

  

to Bank counsel fees and expenses

    $

  

to                     

    $

  

to                     

    $             

  

TOTAL (AMOUNT FINANCED)

Upon consummation of this transaction, this document will also serve as the
authorization for Comerica Bank to disburse the loan proceeds as stated above.

 

 

    

 

Signature      Signature

 

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AGREEMENT TO PROVIDE INSURANCE

 

TO:    COMERICA BANK    Date: June 27, 2006    Attn: Deni M. Snider, MC 4770   
   75 E. Trimble Road       San Jose, CA 95131    Borrower: Orasure
Technologies, Inc.

In consideration of a loan in the maximum amount of $15,000,000, secured by all
tangible personal property including inventory and equipment.

I/We agree to obtain adequate insurance coverage to remain in force during the
term of the loan.

I/We also agree to advise the below named agent to add Comerica Bank as lender’s
loss payable on the new or existing insurance policy, and to furnish Bank at
above address with a copy of said policy/endorsements and any subsequent renewal
policies.

I/We understand that the policy must contain:

 

  1. Fire and extended coverage in an amount sufficient to cover:

 

  (a) The amount of the loan, OR

 

  (b) All existing encumbrances, whichever is greater,

But not in excess of the replacement value of the improvements on the real
property.

 

  2. Lender’s “Loss Payable” Endorsement Form 438 BFU in favor of Comerica Bank,
or any other form acceptable to Bank.

INSURANCE INFORMATION

Insurance Co./Agent Telephone No.:

Agent’s Address:

Signature of Obligor: ____________________________________

Signature of Obligor: ____________________________________

 

FOR BANK USE ONLY INSURANCE VERIFICATION: Date: _______________________ Person
Spoken to: _____________________________________ Policy Number:
_______________________________________ Effective From: ______________  To:
______________________ Verified by: __________________________________________

 

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COMERICA BANK

      AUTOMATIC DEBIT AUTHORIZATION

Member FDIC

  

 

To:    Comerica Bank Re:    Loan # ___________________________________________

You are hereby authorized and instructed to charge account No. 1892044635 in the
name of Orasure Technologies, Inc.

for principal, interest and other payments due on above referenced loan as set
forth below and credit the loan referenced above.

 

  x Debit each interest payment as it becomes due according to the terms of the
Loan and Security Agreement and any renewals or amendments thereof.

 

  x Debit each principal payment as it becomes due according to the terms of the
Loan and Security Agreement and any renewals or amendments thereof.

 

  x Debit each payment for Bank Expenses as it becomes due according to the
terms of the Loan and Security Agreement and any renewals or amendments thereof.

This Authorization is to remain in full force and effect until revoked in
writing.

 

Borrower Signature

   Date:

___________________________

   __________________

___________________________

   __________________

 

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