Document:

February
      8, 2000

     

    Mr.
      Andrew N. Brown

    5
      Woodmill Meadows

    Kenilworth

    Warmickshire
      CV8 2XP

     

    Dear
      Andrew:

     

    The
      Board
      of Directors of Bioanalytical Systems, Inc. (the "Company") has approved the
      grant of non-qualified
      stock options to you. This letter will serve as notice of the grant, effective
      as of January 1, 2000 (the
      "date of grant"), of an option to purchase (the "Option") 5000 of the Common
      Shares of the Company (the "Option Shares") on the terms and conditions set
      forth herein, and upon your execution and delivery to the Company of the copy
      of
      this letter included herein will constitute our agreement as to those terms.
      This
      Option
      has not been granted under the terms of the USA Company's employee stock option
      plans, and is not
      a
      "qualified" stock option as defined by the U.S. Internal Revenue Service.
You
      are
      urged
      to consult with
      your
      tax advisors concerning the tax effect of the grant and exercise of this
      Option.

     

    
      	
              1.

            	
              OPTION
                PRICE. The
                purchase price of the Option Shares is $2.875 per share (the "Option
                Price").

            

    

     

    
      	
              2.

            	
              MEDIUM
                AND TIME OF PAYMENT. You
                must pay the Option Price with respect to the Option
                Shares being purchased at the time you exercise the Option. The Option
                Price may be paid either (a) in cash; (b) by certified check or by
                bank
                cashier's check; (c) if you can do so without violating
                Section 16(b) of the Securities Exchange Act of 1934, through the
                tender
                to the Company
                of outstanding Common Shares or through the withholding and surrender
                to
                the Company
                of Option Shares being purchased, which shall be valued, for purposes
                of
                determining the
                extent to which the purchase price has been paid, at the fair market
                value
                of the Common Shares
                on the date of exercise of the Option; or (d) or by a combination
                of (a),
                (b) or (c).

            

    

     

    
      	
              3.

            	
              TERM
                AND EXERCISABILITY OF OPTIONS. The
                Option is effective immediately upon your acceptance
                of this letter and may be exercised in full or in part at any time
                and
                from time to time until
                the Option expires or it is earlier terminated under the provisions
                herein. The Option will be considered
                to have been effectively exercised only upon delivery to the Company
                of
                the Option Price and a "Notice of Exercise" in the form attached
                hereto,
                and the satisfaction to all other conditions
                described in this letter. The Option shall expire as to all unexercised
                Option Shares at the
                close of business on the tenth anniversary of the date of this letter
                (or
                on the next business day if that date is
                a
                Saturday, Sunday or holiday).

            

    

     

    
      	
              4.

            	
              CESSATION
                OF SERVICE WITH THE COMPANY. In
                the event you cease to serve as an employee
                of the Company or any of its subsidiaries, this Option shall terminate
                immediately upon termination
                of employment as to any unexercised Option Shares; provided, however,
                that
                if termination
                of employment is due to retirement with the consent of the Company
                or is
                due to a
                permanent
                and total disability; you shall have the right to exercise the Option
                with
                respect to the Common shares for which it could have been exercised
                on the
                effective date of termination of employment at any time within three
                months after the termination date, if termination is
                due
                to retirement
                with the consent of the Company, or at anytime within 12
                months
                after termination date, if termination is due to permanent and total
                disability. In the event of your death while serving
                as an employee of the Company or any of its subsidiaries, your personal
                representative shall
                have the right to exercise this Option with respect to the Common
                Shares
                for which it could have
                been exercised on the date of your death. Whether termination is
                a
                retirement with the consent
                of the Company or due to permanent and total disability, and whether
                an
                authorized leave of absence on military or government service shall
                be
                deemed to constitute termination of employment for the purposes of
                this
                Option, shall be determined by the Board of Directors in its sole
                discretion, which determination shall be final and
                conclusive.

            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              5.

            	
              RECAPITALIZATION.
                The
                number of Option Shares and the Option Price each shall be proportionally
                adjusted for any increase or decrease in the number of issued shares
                of
                the Common
                shares resulting from a subdivision or consolidation of shares of
                the
                Company, the payment
                of a share dividend, a share split or other increase or decrease
                in the
                outstanding Common
                Shares effected without receipt of consideration by the Company (including
                an increase or decrease effected as a part of the Recapitalization
                of the
                Company, as defined herein). In the event
                that there shall be a recapitalization or reorganization of the Company
                or
                a reclassification of its
                outstanding shares (each a -Recapitalization") as a result of which
                other
                shares (the "New Shares")
                are issued in exchange for Common Shares, then there shall be substituted
                for the Option Shares
                then issuable hereunder that number of New Shares into which those
                Option
                Shares have been converted had they been outstanding at the effective
                date
                of the Recapitalization.

            

    

     

    
      	
              6.

            	
              MERGER,
                DISSOLUTION. If
                the Company shall enter into any agreement of merger or consolidation
                (whether or not it shall be the surviving entity thereunder), the
                Company
                shall have the
                right to terminate this Option as of any date specified in a written
                notice given to you not less than
                30 days prior to the termination date. If the merger or consolidation
                described in that notice is
                not consummated within 180 days following the termination date of
                this
                Option specified in the notice,
                this Option thereafter shall be deemed to have been continuously
                in effect
                since the date hereof.
                In the event of the sale of all or substantially all of the assets
                of the
                Company and the distribution of the proceeds thereof to shareholders
                in
                liquidation of the company, the Company shall give you 30 days prior
                written notice specifying record date for the purpose of determining
                the
                shareholders entitled to participate in that distribution and this
                Option
                shall expire as to all Option
                Shares that remain unexercised as of the date of that
                distribution.

            

    

     

    
      	
              7.

            	
              NONASSIGNABILITY.
                This
                Option is not assignable or transferable except by will or under
                the
                laws
                of descent and distribution. During your lifetime, this Option shall
                be
                exercisable only by you
                (or if you become incapacitated, by your legal guardian or
                attorney-in-fact).

            

    

     

    
      	
              8.

            	
              ISSUANCE
                OF SHARES AND COMPLIANCE WITH SECURITIES LAWS. The
                Company may
                postpone the issuance and delivery of certificates representing Common
                Shares until (a) the admission
                of such shares to listing on any exchange on which shares of the
                Company
                of the same class
                are then listed and (b) the completion of any requirements for
                registration or other qualification of the shares under any state
                or
                Federal law, rule or regulation or the rules and regulations of any
                exchange upon which the Common shares are traded as the Company shall
                determine
                to be necessary or advisable. The Company shall use its reasonable
                commercial efforts to
                complete any required registration or other qualification. You have
                no
                right to require the Company
                to register the Common Shares acquired upon the exercise of this
                Option
                under federal or
                state securities laws. As a condition to the effective exercise of
                this
                Option you may be required
                to make such representations and furnish such information as may,
                in the
                opinion of counsel
                for the Company, be appropriate to permit the Company to determine
                whether
                registration or
                qualification of those shares is required in connection with that
                transaction.

            

    

     

    
      	
              9.

            	
              RIGHTS
                AS A SHAREHOLDER. You
                shall have no rights as a shareholder with respect to Common Shares
                subject to this Option until the date of issuance of a certificate
                to you.
                A certificate will not be issued until you have exercised the Option,
                fully paid for the Common Shares
                acquired thereby and satisfied all other details described in this
                letter.
                No adjustment will be
                made for dividends or other rights for which the record date is prior
                to
                the date a certificate is issued.

            

    

     

    
      	
              10.

            	
              NO
                OBLIGATION TO EXERCISE OPTION. The
                grant of this Option imposes no obligation upon
                you to exercise the Option.

            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      
        11.
          NO
          OBLIGATION TO CONTINUE EMPLOYMENT. The
          grant
          of this Option to you does not constitute any contract of employment between
          you
          and the Company, and does not impose any obligation of the Company to continue
          your employment.

      

    

     

    
      	
              12.

            	
              WITHHOLDINGS.
                As
                a condition to the effective exercise of this option, the Company
                may
                right to require you to remit to the Company amounts sufficient to
                satisfy
                any applicable withholding
                requirements set forth in the Internal Revenue Code of 1986, as amended,
                or under state
                or local law relating to the Option. The Company shall have the right,
                to
                the extent permitted by law, to deduct from any payment of any kind
                otherwise due to you any federal, state or local taxes of any kind
                required by law to be withheld with respect to the exercise of the
                Option.

            

    

     

    
      	
              13.

            	
              POWER
                AND AUTHORITY. The
                Board of Directors shall have the full power and authority to take
                all actions and make all determinations required or provided for
                under the
                terms of this Option;
                to interpret and construe the provisions of this letter, which
                interpretation or construction shall
                be final, conclusive and binding on the Company and you: and to take
                any
                and all other actions
                and make any and all other determinations not consistent with the
                specific
                terms and provisions
                of this letter which the Board of Directors deems necessary or
                appropriate.

            

    

     

    Please
      acknowledge your receipt of this letter and your agreement to the terms set
      forth herein by signing and
      returning the copy enclosed for that purpose.

    

      Very
        Truly Yours,

      

      Peter
        T.
        Kissinger

      President

      Accepted
        and agreed to: _____________________________________

       

      Date:
        ______________________EXACT
        COPY

      July
        22,
        2005

      Ms.
        Sue
        Faulconbridge 

      124
        Deans
        Way

      Ash
        Green

      Coventry

      CV7
        9HF

       

      Dear
        Sue:

       

      The
        Board
        of Directors of Bioanalytical Systems, Inc. (the "Company") has approved
        the
        grant of non-qualified
        stock options to you. This letter will serve as notice of the grant, effective
        as of July 22, 2005 (the "date of grant"), of an option to purchase (the
        "Option") 3000 of the Common Shares of the Company (the "Option
        Shares") on the terms and conditions set forth herein, and upon your execution
        and delivery to the Company
        of the copy of this letter included herein will constitute our agreement
        as to
        those terms. This
        Option
        has not been granted under the terms of
        the USA Company's
        employee stock option plans, and is not
        a "qualified" stock option as defined by
        the
        U.S.
        Internal
        Revenue Service. You
        are
        urged to consult with
        your
        tax advisors concerning the tax effect of the grant and exercise of this
        Option.

       

      
        	1.	
                OPTION
                  PRICE. The
                  purchase price of the Option Shares is $5.74 per share (the "Option
                  Price").

              

      

       

      
        	2.	
                MEDIUM
                  AND TIME OF PAYMENT. You
                  must pay the Option Price with respect to the Option
                  Shares being purchased at the time you exercise the Option. The
                  Option
                  Price may be paid either (a) in cash; (b) by certified check or
                  by bank
                  cashier's check; (c) if you can do so without violating
                  Section I6(b) of the Securities Exchange Act of 1934, through the
                  tender
                  to the Company
                  of outstanding Common Shares or through the withholding and surrender
                  to
                  the Company of Option Shares being purchased, which shall be valued,
                  for
                  purposes of determining the
                  extent to which the purchase price has been paid, at the fair market
                  value
                  of the Common Shares
                  on the date of exercise of the Option; or (d) or by a combination
                  of (a),
                  (b) or (c).

              

      

       

      
        
          	3.	
                  TERM
                    AND EXERCISABILITY OF OPTIONS. The
                    Option is effective immediately upon your acceptance
                    of this letter and may be exercised in full or in part at any
                    time and
                    from time to time until
                    the Option expires or it is earlier terminated under the provisions
                    herein. The Option will be considered
                    to have been effectively exercised only upon delivery to the
                    Company of
                    the Option Price
                    and a "Notice of Exercise" in the form attached hereto, and the
                    satisfaction to all other conditions
                    described in this letter. The Option shall expire as to all unexercised
                    Option Shares at the
                    close of business on the tenth anniversary of the date of this
                    letter (or
                    on the next business day if that date is a Saturday, Sunday or
                    holiday).

                

        

      

       

      
        	4.	
                CESSATION
                  OF SERVICE WITH THE COMPANY. In
                  the event you cease to serve as an employee
                  of the Company or any of its subsidiaries, this Option shall terminate
                  immediately upon termination
                  of employment as to any unexercised Option Shares; provided, however,
                  that
                  if termination of employment is due to retirement with the consent
                  of the
                  Company or is due to a permanent and total disability; you shall
                  have the
                  right to exercise the Option with respect to the Common shares
                  for which
                  it could have been exercised on the effective date of termination
                  of
                  employment at any time within three months after the termination
                  date, if
                  termination is due to retirement
                  with the consent of the Company, or at anytime within 12 months
                  after
                  termination date,
                  if termination is due to permanent and total disability. In the
                  event of
                  your death while serving
                  as an employee of the Company or any of its subsidiaries, your
                  personal
                  representative shall
                  have the right to exercise this Option with respect to the Common
                  Shares
                  for which it could have
                  been exercised on the date of your death. Whether termination is
                  a
                  retirement with the consent
                  of the Company or due to permanent and total disability, and whether
                  an
                  authorized leave of absence on military or government service shall
                  be
                  deemed to constitute termination of employment
                  for the purposes of this Option, shall be determined by the Board
                  of
                  Directors in its sole
                  discretion, which determination shall be final and
                  conclusive.

              

      

       

      DRUG
        SAFETY ASSESSMENT • CLINICAL RESEARCH • ANALYTICAL CHEMISTRY c
        BIOAIVALYSIS INSTRUMENTATION

       

      WEST
        LAFAYETTE • EVANSVILLE • BALTIMORE • MCMINNVILLE • WARWICK

       

      WWW.EIOANALYTICAL.COM•
        BASI
        ON
        THE
        NASDAQ

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
       

      
        	5.	
                RECAPITALIZATION.
                  The
                  number of Option Shares and the Option Price each shall be proportionally
                  adjusted for any increase or decrease in the number of issued shares
                  of
                  the Common
                  shares resulting from a subdivision or consolidation of shares
                  of the
                  Company, the payment
                  of a share dividend, a share split or other increase or decrease
                  in the
                  outstanding Common
                  Shares effected without receipt of consideration by the Company
                  (including
                  an increase or
                  decrease effected as a part of the Recapitalization of the Company,
                  as
                  defined herein). In the event
                  that there shall be a recapitalization or reorganization of the
                  Company or
                  a reclassification of its
                  outstanding shares (each a "Recapitalization") as a result of which
                  other
                  shares (the "New Shares")
                  are issued in exchange for Common Shares, then there shall be substituted
                  for the Option Shares
                  then issuable hereunder that number of New Shares into which those
                  Option
                  Shares have been
                  converted had they been outstanding at the effective date of the
                  Recapitalization.

              

      

       

      
        	6.	
                MERGER,
                  DISSOLUTION. If
                  the Company shall enter into any agreement of merger or consolidation
                  (whether or not it shall be the surviving entity thereunder), the
                  Company
                  shall have the
                  right to terminate this Option as of any date specified in a written
                  notice given to you not less than
                  30 days prior to the termination date. If the merger or consolidation
                  described in that notice is
                  not consummated within 180 days following the termination date
                  of this
                  Option specified in the notice,
                  this Option thereafter shall be deemed to have been continuously
                  in effect
                  since the date hereof.
                  In the event of the sale of all or substantially all of the assets
                  of the
                  Company and the distribution
                  of the proceeds thereof to shareholders in liquidation of the company,
                  the
                  Company shall give you 30 days prior written notice specifying
                  record date
                  for the purpose of determining the
                  shareholders entitled to participate in that distribution and this
                  Option
                  shall expire as to all Option Shares that remain unexercised as
                  of the
                  date of that distribution.

              

      

       

      
        	7.	
                NONASSIGNABILITY.
                  This
                  Option is not assignable or transferable except by will or under
                  the
                  laws
                  of descent and distribution. During your lifetime, this Option
                  shall be
                  exercisable only by you
                  (or if you become incapacitated, by your legal guardian or
                  attorney-in-fact).

              

      

       

      
        	8.	
                ISSUANCE
                  OF SHARES AND COMPLIANCE WITH SECURITIES LAWS. The
                  Company may
                  postpone the issuance and delivery of certificates representing
                  Common
                  Shares until (a) the admission
                  of such shares to listing on any exchange on which shares of the
                  Company
                  of the same class
                  are then listed and (b) the completion of any requirements for
                  registration or other qualification
                  of the shares under any state or Federal law, rule or regulation
                  or the
                  rules and regulations
                  of any exchange upon which the Common shares are traded as the
                  Company
                  shall determine
                  to be necessary or advisable. The Company shall use its reasonable
                  commercial efforts to
                  complete any required registration or other qualification. You
                  have no
                  right to require the Company
                  to register the Common Shares acquired upon the exercise of this
                  Option
                  under federal or
                  state securities laws. As a condition to the effective exercise
                  of this
                  Option you may be required
                  to make such representations and furnish such information as may,
                  in the
                  opinion of counsel for the Company, be appropriate to permit the
                  Company
                  to determine whether registration or qualification of those shares
                  is
                  required in connection with that
                  transaction.

              

      

       

      
        	9.	
                RIGHTS
                  AS A SHAREHOLDER. You
                  shall have no rights as a shareholder with respect to Common
                  Shares subject to this Option until the date of issuance of a certificate
                  to you. A certificate
                  will not be issued until you have exercised the Option, fully paid
                  for the
                  Common Shares acquired thereby and satisfied all other details
                  described
                  in this letter. No adjustment will be made for dividends or other
                  rights
                  for which the record date is prior to the date a certificate is
                  issued.

              

      

       

      
        	10.	
                NO
                  OBLIGATION TO EXERCISE OPTION. The
                  grant of this Option imposes no obligation upon
                  you to exercise the Option.

              

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        
          
            	11.	
                    NO
                      OBLIGATION TO CONTINUE EMPLOYMENT. The
                      grant of this Option to you does not constitute any contract
                      of employment
                      between you and the Company, and does not impose any obligation
                      of the Company to continue your
                      employment.

                  

          

        

      

       

      
        
          
            	12.	
                    WITHHOLDINGS.
                      As
                      a condition to the effective exercise of this option, the Company
                      may
                      right
                      to require you to remit to the Company amounts sufficient to
                      satisfy any
                      applicable withholding
                      requirements set forth in the Internal Revenue Code of 1986,
                      as amended,
                      or under state or local law relating to the Option. The Company
                      shall have
                      the right, to the extent permitted by law, to deduct from any
                      payment of
                      any kind otherwise due to you any federal, state or local taxes
                      of any
                      kind required by law to be withheld with respect to the exercise
                      of the
                      Option.

                  

          

        

      

       

      
        	13.	
                POWER
                  AND AUTHORITY. The
                  Board of Directors shall have the full power and authority to take
                  all actions and make all determinations required or provided for
                  under the
                  terms of this Option;
                  to interpret and construe the provisions of this letter, which
                  interpretation or construction shall
                  be final, conclusive and binding on the Company and you; and to
                  take any
                  and all other actions
                  and make any and all other determinations not consistent with the
                  specific
                  terms and provisions
                  of this letter which the Board of Directors deems necessary or
                  appropriate.

              

      

       

      Please
        acknowledge your receipt of this letter and your agreement to the terms set
        forth herein by signing and
        returning the copy enclosed for that purpose.

       

      Very
        Truly Yours,

       

      /s/
        Peter T.
        Kissinger                                                          

      Peter
        T.
        Kissinger

      President

       

      Accepted
        and agreed
        to:                                                        

       

      Date:

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