Document:

WARRANT

       

      THE
SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE U.S.
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR
ANY OTHER APPLICABLE SECURITIES LAWS AND HAVE BEEN ISSUED IN RELIANCE UPON AN
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND SUCH
OTHER SECURITIES LAWS.  NEITHER THIS SECURITY NOR ANY INTEREST OR
PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED,
ENCUMBERED, HYPOTHECATED OR OTHERWISE DISPOSED OF, EXCEPT PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO A
TRANSACTION WHICH IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH
REGISTRATION.

       

      January     ,
2009

       

      Warrant
to Purchase up to_______ Shares of Common Stock of US SolarTech, Inc.
(hereinafter, the “Warrant”).

       

      US
SolarTech, Inc., an entity organized and existing under the laws of the State of
Delaware (the “Company”), hereby
agrees that _____________ (“Warrant Holder”) is
entitled, on the terms and conditions set forth below, to purchase from the
Company at any time during the Exercise Period (hereinafter defined) up to
________ fully paid and non-assessable shares of Common Stock, par value $0.0001
per share, of the Company (the “Common Stock”), as
the same may be adjusted from time to time pursuant to Section 5 hereof, at the
Exercise Price (hereinafter defined), as the same may be adjusted pursuant to
Section 5 hereof.

       

      Section
1      Definitions

       

      “Aggregate Exercise
Price” shall mean, with respect to any exercise (in whole or in part) of
this Warrant the Exercise Price multiplied by the total number of shares of
Common Stock for which this Warrant is being exercised.

       

      “Capital Shares” shall
mean the Common Stock, and any shares of any other class of common stock whether
now or hereafter authorized, having the right to participate in the distribution
of dividends (as and when declared) and assets (upon liquidation of the
Company).

       

      “Exercise Date” shall
mean, with respect to any exercise (in whole or in part) of this Warrant either
(i) the date this Warrant, the Exercise Notice and the Aggregate Exercise Price
are received by the Company or (ii) the date a copy of the Exercise Notice is
sent by facsimile to the Company, provided that this Warrant, the original
Exercise Notice, and the Aggregate Exercise Price are received by the Company
within five Trading Days thereafter and provided further that if this Warrant,
the original Exercise Notice and the Aggregate Exercise Price are not received
within five Trading Days in accordance with clause (ii) above, the Exercise Date
for this clause (ii) shall be the date this Warrant, the original Exercise
Notice and the Aggregate Exercise Price are received by the
Company.

       

      “Exercise Notice”
shall mean, with respect to any exercise (in whole or in part) of this Warrant
the exercise form attached hereto as Exhibit A, duly executed by the Warrant
Holder.

       

      “Exercise Period”
shall mean the period beginning on January ___, 2009 and continuing until
January ______, 2012, inclusive.

       

      “Exercise Price” as of
the date hereof shall mean $1.50 per share of Common Stock, subject to the
adjustments provided for in Section 5 of this Warrant.

      
        
           

        

        
          -1-

          
            

          

        

        
           

        

      

       

      “Outstanding” when
used with reference to Common Stock or Capital Shares (collectively, the “Shares”), shall mean,
at any date as of which the number of such Shares is to be determined, all
issued and outstanding Shares, and shall include all such Shares issuable in
respect of outstanding scrip or any certificates representing fractional
interests in such Shares; provided, however, that
“Outstanding” shall not refer to any such Shares then directly or indirectly
owned or held by or for the account of the Company.

       

      “Per Share Warrant
Value” shall mean, with respect to any exercise (in whole or in part) of
this Warrant the difference resulting from subtracting the Exercise Price from
the Trade Price of one share of Common Stock on the Trading Day immediately
preceding the Exercise Date.

       

       “Principal Market”
shall mean the Nasdaq National Market, the American Stock Exchange, the
Electronic Bulletin Board, the Pink Sheets or the New York Stock Exchange,
whichever is at the time the principal trading exchange or market for the Common
Stock.

       

      “Trading Day” shall
mean any day during which the Principal Market shall be open for
business.

       

      “Trade Price” shall
mean the volume-weighted average price as reported by Bloomberg L.P. using the
Average Quote Recap function.

       

      “Warrant Shares” means
shares of Common Stock issuable upon exercise of this Warrant.

       

      Section 2
Exercise

       

      (a)      Method of
Exercise.  This Warrant may be exercised in whole or in part,
provided such part is not less than  2,000 Warrants and not as to a
fractional share of Common Stock), at any time and from time to time during the
Exercise Period, by the Warrant Holder by (i) the surrender of this Warrant, the
Exercise Notice and the Aggregate Exercise Price to the Company at the address
set forth in Section 10 hereof or (ii) the delivery by facsimile of an executed
and completed Exercise Notice to the Company and delivery to the Company within
five Trading Days thereafter of this Warrant, the original Exercise Notice and
the Aggregate Exercise Price.

       

      (b)      Payment of Aggregate
Exercise Price.  Payment of the Aggregate Exercise Price shall
be made by check or bank draft payable to the order of the Company or by wire
transfer to an account designated by the Company.  If the amount of
the payment received by the Company is less than the Aggregate Exercise Price,
the Warrant Holder will be notified of the deficiency and shall make payment in
that amount within five Trading Days of such notice.  In the event the
payment exceeds the Aggregate Exercise Price, the Company will refund the excess
to the Warrant Holder within three Trading Days of both the receipt of such
payment and the knowledge of such excess.

       

       (c)      Replacement
Warrant.  In the event that the Warrant is not exercised in
full, the number of Warrant Shares shall be reduced by the number of such
Warrant Shares for which this Warrant is exercised, and the Company, at its
expense, shall forthwith issue and deliver to the Warrant Holder a new Warrant
of like tenor in the name of the Warrant Holder or as the Warrant Holder may
request, reflecting such adjusted number of Warrant Shares.

       

      Section
3      Delivery of Stock
Certificates

       

      (a)      Subject
to the terms and conditions of this Warrant, as soon as practicable after the
exercise of this Warrant in full or in part, and in any event within five
Trading Days thereafter, the Company at its expense (including, without
limitation, the payment by it of any applicable issue taxes) will cause to be
issued in the name of and delivered to the Warrant Holder, or as the Warrant
Holder may lawfully direct, a certificate or certificates for the number of
validly issued, fully paid and non-assessable Warrant Shares to which the
Warrant Holder shall be entitled on such exercise, together with any other stock
or other securities or property (including cash, where applicable) to which the
Warrant Holder is entitled upon such exercise in accordance with the provisions
hereof; provided, however, that any
such delivery to a location outside of the United States shall also be made
within five Trading Days after the exercise of this Warrant in full or in
part.

      
        
           

        

        
          -2-

          
            

          

        

        
           

        

      

       

      (b)      This
Warrant may not be exercised as to fractional shares of Common
Stock.  In the event that the exercise of this Warrant, in full or in
part, would result in the right to acquire any fractional share of Common Stock,
then in such event such fractional share shall be considered a whole share of
Common Stock and shall be added to the number of Warrant Shares issuable to the
Warrant Holder upon exercise of this Warrant.

       

      Section
4      Representations, Warranties
and Covenants of the Company

       

      (a)      The
Company shall take all necessary action and proceedings as may be required and
permitted by applicable law, rule and regulation for the legal and valid
issuance of this Warrant and the Warrant Shares to the Warrant
Holder.

       

      (b)      At
all times during the Exercise Period, the Company shall take all steps
reasonably necessary and within its control to insure that the Common Stock
remains listed or quoted on the Principal Exchange.

       

      (c)      The
Warrant Shares, when issued in accordance with the terms hereof, will be duly
authorized and, when paid for or issued in accordance with the terms hereof,
shall be validly issued, fully paid and non-assessable.

       

      (d)      The
Company has authorized and reserved for issuance to the Warrant Holder the
requisite number of shares of Common Stock to be issued pursuant to this
Warrant. The Company shall at all times reserve and keep available, solely for
issuance and delivery as Warrant Shares hereunder, such shares of Common Stock
as shall from time to time be issuable as Warrant Shares, and shall accordingly
adjust the number of such shares of Common Stock promptly upon the occurrence of
any of the events specified in Section 4 hereof.

       

      Section
5      Adjustment of the Exercise
Price The Exercise Price and, accordingly, the number of Warrant
Shares issuable upon exercise of the Warrant, shall be subject to adjustment
from time to time upon the happening of certain events as follows:

       

      (a)      Reclassification,
Consolidation, Merger; Mandatory Share Exchange; Sale Transfer or Lease of
Assets.  If the Company, at any time while this Warrant is
unexpired and not exercised in full, (i) reclassifies or changes its Outstanding
Capital Shares (other than a change in par value, or from par value to no par
value per share, or from no par value per share to par value or as a result of a
subdivision or combination of outstanding securities issuable upon exercise of
the Warrant) or (ii) consolidates, merges or effects a mandatory share exchange
with another corporation (other than a merger or mandatory share exchange with
another corporation in which the Company is a continuing corporation and that
does not result in any reclassification or change, other than a change in par
value, or from par value to no par value per share, or from no par value per
share to par value, or (iii) sells, transfers or leases all or substantially all
of its assets, then in any such event the Company, or such successor or
purchasing corporation, as the case may be, shall, without payment by the
Warrant Holder of any additional consideration therefor, amend this Warrant or
issue a new Warrant providing that the Warrant Holder shall have rights not less
favorable to the Warrant Holder than those then applicable to this Warrant and
to receive upon exercise under such amendment of this Warrant or new Warrant, in
lieu of each share of Common Stock theretofore issuable upon exercise of the
Warrant hereunder, the kind and amount of shares of stock, other securities,
money or property receivable upon such reclassification, change, consolidation,
merger, mandatory share exchange, lease, sale or transfer by the holder of one
share of Common Stock issuable upon exercise of the Warrant had the Warrant been
exercised immediately prior to such reclassification, change, consolidation,
merger, mandatory share exchange or sale or transfer, and an appropriate
provision for the foregoing shall be made by the Company as part of any such
event.  Such amended Warrant or new Warrant shall provide for
adjustments that shall be as nearly equivalent as may be practicable to the
adjustments provided for in this Section 5.  The provisions of this
Section 5(a) shall similarly apply to successive reclassifications, changes,
consolidations, mergers, mandatory share exchanges, sales, transfers and
leases.

       

      (b)      Subdivision or Combination
of Shares; Stock Dividends.  If the Company, at any time while
this Warrant is unexpired and not exercised in full, shall (x) subdivide its
Common Stock, (y) combine its Common Stock or (z) pay a dividend or other
distribution in its Capital Shares, then the Exercise Price shall be adjusted,
as of the date the Company shall take a record of the holders of its Capital
Shares for the purpose of effecting such subdivision, combination or dividend or
other distribution (or if no such record is taken, as of the effective date of
such subdivision, combination, dividend or other distribution), to that price
determined by multiplying the Exercise Price in effect immediately prior to such
subdivision, combination, dividend or other distribution by a
fraction:

      
        
           

        

        
          -3-

          
            

          

        

        
           

        

      

       

      (i)      the
numerator of which shall be the total number of Outstanding Capital Shares
immediately prior to such subdivision, combination, dividend or other
distribution, and

       

      (ii)      the
denominator of which shall be the total number of Outstanding Capital Shares
immediately after such subdivision, combination, dividend or other
distribution.  The provisions of this Section 5(b) shall not apply
under any of the circumstances for which an adjustment is made pursuant to
Section 5(a).

       

      (c)      Liquidating Dividends,
etc.  If the Company, at any time while this Warrant is
unexpired and not exercised in full, makes a distribution of its assets or
evidences of indebtedness to the holders of its Capital Shares as a dividend in
liquidation or by way of return of capital or other than as a dividend payable
out of earnings or surplus legally available for dividends under applicable law
or any distribution to such holders made in respect of the sale of all or
substantially all of the Company’s assets (other than under the circumstances
provided for in the foregoing subsections (a) and (b) while an exercise is
pending, then the Warrant Holder shall be entitled to receive upon such exercise
of the Warrant in addition to the Warrant Shares receivable in connection
therewith, and without payment of any consideration other than the Exercise
Price, an amount in cash equal to the value of such distribution per Capital
Share multiplied by the number of Warrant Shares that, on the record date for
such distribution, are issuable upon such exercise of the Warrant, and an
appropriate provision therefor shall be made by the Company as part of any such
distribution.  No further adjustment shall be made following any event
that causes a subsequent adjustment in the number of Warrant Shares
issuable.  The value of a distribution that is paid in other than cash
shall be determined in good faith by the Board of Directors of the
Company.

       

      (d)      Adjustment of Number of
Shares.  Upon each adjustment of the Exercise Price pursuant to
any provisions of this Section 5, the number of Warrant Shares issuable
hereunder at the option of the Warrant Holder shall be calculated, to the
nearest one hundredth of a whole share, multiplying the number of Warrant Shares
issuable prior to an adjustment by a fraction:

       

      (i)      the
numerator of which shall be the Exercise Price before any adjustment pursuant to
this Section 5; and

       

      (ii)      the
denominator of which shall be the Exercise Price after such
adjustment.

       

      (e)      Notice of Certain Actions;
Notice of Adjustments.

       

      (i)      In
the event the Company shall, at a time while the Warrant is unexpired and
outstanding, take any action pursuant to subsections (a) through (d) of this
Section 5 that may result in an adjustment of the Exercise Price, the Company
shall notify the Warrant Holder of such action 10 days in advance of its
effective date in order to afford to the Warrant Holder an opportunity to
exercise the Warrant prior to such action becoming effective.

       

      (ii)      Notice of
Adjustments.  Whenever the Exercise Price or number of Warrant
Shares shall be adjusted pursuant to Section 5 hereof, the Company shall
promptly deliver by facsimile, with the original delivered by express courier
service in accordance with Section 10 hereof, a certificate, which shall be
signed by the Company’s President or a Vice President and by its Treasurer or
Assistant Treasurer or its Secretary or Assistant Secretary, setting forth in
reasonable detail the event requiring the adjustment, the amount of the
adjustment, the method by which such adjustment was calculated (including a
description of the basis on which the Company’s Board of Directors made any
determination hereunder), and the Exercise Price and number of Warrant Shares
purchasable at that Exercise Price after giving effect to such
adjustment.

      
        
           

        

        
          -4-

          
            

          

        

        
           

        

      

       

      Section
6      No Impairment. 
The Company will not, by amendment of its Articles of Incorporation or By-Laws
or through any reorganization, transfer of assets, consolidation, merger,
dissolution, issue or sale of securities or any other voluntary action, avoid or
seek to avoid the observance or performance of any of the terms of this Warrant,
but will at all times in good faith assist in the carrying out of all such terms
and in the taking of all such action as may be necessary or appropriate in order
to protect the rights of the Warrant Holder hereunder.  Without
limiting the generality of the foregoing, the Company (a) will not increase the
par value of any Warrant Shares above the amount payable therefor on such
exercise, and (b) will take all such action as may be reasonably necessary or
appropriate in order that the Company may validly and legally issue fully paid
and non-assessable Warrant Shares on the exercise of this Warrant.

       

      Section
7      Rights As
Stockholder.  Prior to exercise of this Warrant and except as
provided in Section 5 hereof, the Warrant Holder shall not be entitled to any
rights as a stockholder of the Company with respect to the Warrant Shares,
including (without limitation) the right to vote such shares, receive dividends
or other distributions thereon or be notified of stockholder
meetings.  However, in the event of any taking by the Company of a
record of the holders of any class of securities for the purpose of determining
the holders thereof who are entitled to receive any dividend (other than a cash
dividend) or other distribution, any right to subscribe for, purchase or
otherwise acquire any shares of stock of any class or any other securities or
property, or to receive any other right, the Company shall mail to each Warrant
Holder, at least ten days prior to the date specified therein, a notice
specifying the date on which any such record is to be taken for the purpose of
such dividend, distribution or right, and the amount and character of such
dividend, distribution or right.

       

      Section
8      Replacement of
Warrant.  Upon receipt of evidence reasonably satisfactory to the
Company of the loss, theft, destruction or mutilation of the Warrant and, in the
case of any such loss, theft or destruction of the Warrant, upon delivery of an
indemnity agreement or security reasonably satisfactory in form and amount to
the Company or, in the case of any such mutilation, on surrender and
cancellation of such Warrant, the Company at its expense will execute and
deliver, in lieu thereof, a new Warrant of like tenor.

       

      Section
9      Restricted
Securities.

       

      (a)      Registration or Exemption
Required. This Warrant has been issued in a transaction exempt from the
registration requirements of the Securities Act in reliance upon the provisions
of Section 4(2) promulgated by the SEC under the Securities Act.  This
Warrant and the Warrant Shares issuable upon exercise of this Warrant may not be
resold except pursuant to an effective registration statement or an exemption to
the registration requirements of the Securities Act and applicable state
laws.

       

      (b)      Legend.  Any
replacement Warrants issued pursuant to Section 2 hereof and any Warrant Shares
issued upon exercise hereof, shall bear the legend set forth at the head of this
Warrant:

       

      Such
legend shall only be removed in the event that the security which would
otherwise bear such legend is registered pursuant to the Securities Act and the
party seeking to remove such legend provides the Company with an opinion of
counsel, which opinion shall be satisfactory to the Company, stating the removal
of such legend is appropriate.

       

      (c)      No Other Legend or Stock
Transfer Restrictions.  No legend other than the one specified
in Section 9(b) has been or shall be placed on the share certificates
representing the Warrant Shares and no instructions or “stop transfer
orders,” so called, “stock transfer
restrictions” or other restrictions have been or shall be given to the
Company’s transfer agent with respect thereto other than as expressly set forth
in this Section 9.

       

      (d)      Assignment.  The
Warrant Holder may not sell, transfer, assign, pledge or otherwise dispose of
this Warrant, in whole or in part.

       

      (e)      Warrant Holder’s
Compliance. Nothing in this Section 9 shall affect in any way The Warrant
Holder’s obligations under any agreement to comply with all applicable
securities laws upon resale of the Common Stock.

      
        
           

        

        
          -5-

          
            

          

        

        
           

        

      

       

      Section
10        Notices.  All
notices, demands, requests, consents, approvals, and other communications
required or permitted hereunder shall be in writing and shall be deemed duly
given (i) upon delivery if hand delivered at the address designated below (if
delivered on a business day during normal business hours where such notice is to
be received), or the first business day following such delivery (if delivered
other than on a business day during normal business hours where such notice is
to be received), (ii) on the fifth business day after deposit into the mail, if
deposited in the mail, registered or certified, return receipt requested,
postage prepaid, addressed to the address designated below, (iii) upon delivery
if delivered by reputable express courier service to the address designated
below, or (iv) upon confirmation of transmission if transmitted by facsimile to
the facsimile number designated below (if delivered on a business day during
normal business hours where such notice is to be received), or the first
business day following such delivery (if delivered other than on a business day
during normal business hours where such notice is to be
received).  The addresses and facsimile numbers for such
communications shall be:

    

     

    
      	
               
      

            	
              if
      to the Company:

            

    

     

    
      	
               
      

            	
              US
      SolarTech, Inc.

            

    

    
      	
               
      

            	
              199
      Main Street Suite 709

            

    

    
      	
               
      

            	
              White
      Plains, NY 10601

            

    

    
      	
               
      

            	
              Attention:

            	
              Chief
      Financial Officer

            

    

    
      	
               
      

            	
              Telephone:

            	
              (914)
      287-2423

            

    

    
      	
               
      

            	
              Facsimile:

            	
              (914)
      686-4192

            

    

     

    
      	
               
      

            	
              if
      to the Warrant Holder:

            

    

     

    
      	
               
      

            	
              _________________

            

    

    
      	
               
      

            	
              _________________

            

    

    
      	
               
      

            	
              _________________

            

    

    
      	
               
      

            	
              Attention:

            	
              ______________

            

    

    
      	
               
      

            	
              Telephone:

            	
              ______________

            

    

    
      	
               
      

            	
              Facsimile:

            	
              ______________

            

    

    
       

      Either
party hereto may from time to time change its address or facsimile number for
notices under this Section 10 by giving at least 10 days’ prior written notice
of such changed address or facsimile number to the other party
hereto.

       

      Section
11        Miscellaneous. 
This Warrant and any term hereof may be changed, waived, discharged or
terminated only by an instrument in writing signed by the party against which
enforcement of such change, waiver, discharge or termination is
sought.  The headings in this Warrant are for purposes of reference
only, and shall not limit or otherwise affect any of the terms
hereof.  The invalidity or unenforceability of any provision hereof
shall in no way affect the validity or enforceability of any other
provision.

    

    
      
         

      

      
        -6-

        
          

        

      

      
         

      

    

     

    IN
WITNESS WHEREOF, this Warrant was duly executed by the undersigned, thereunto
duly authorized, as of the date first set forth above.

    

    
      
        
          
            
              
                
                  	
                          US
      SolarTech, Inc.

                        
	 
      	 
      
	 
      	 
      
	
                          By:

                        	 
      
	 
      	
                          Name:

                        
	 
      	
                          Title:

                        

                

              

            

          

        

      

    

     

    Attested:

    
 

    
      
        
          	
                  By:

                	 
      
	 
      	
                  Name:

                
	 
      	
                  Title:

                

        

      

    

    
      
         

      

      
        -7-

        
          

        

      

      
         

      

    

     

    EXHIBIT
A TO THE WARRANT

     

    EXERCISE
FORM

     

    US
SOLARTECH, INC.

     

    The
undersigned (the “Registered Holder”)
hereby irrevocably exercises the right to purchase __________________ shares of
Common Stock of US SolarTech, Inc., an entity organized and existing under the
laws of the State of Delaware (the “Company”), evidenced
by the attached Warrant, and herewith makes payment of the Exercise Price with
respect to such shares in full in the form of (check the appropriate
box) o (i) by
cash or certified check in the amount of $________; or o (ii) by wire
transfer to the Company’s account at __________________, _________, _________
(Account No.: _________)

     

    By
delivering this notice, the undersigned agrees to be subject to the terms and
conditions of the attached Warrant.

     

    The
undersigned requests that stock certificates for such Warrant Shares be issued,
and any Warrant representing any unexercised portion hereof be issued, pursuant
to this Warrant in the name of the Registered Holder and delivered to the
undersigned at the address set forth below.

    

    
      
        
          
            
              
                
                  
                    
                      
                        	
                                Dated:

                              	 
      
	 
	 
      
	
                                Signature
      of Registered Holder

                              
	 
      
	 
	
                                Name
      of Registered Holder (Print)

                              
	 
      
	 
	
                                Address

                              

                      

                    

                  

                

              

            

          

        

      

    

     

    NOTICE

     

    The
signature to the foregoing Exercise Form must correspond to the name as written
upon the face of the attached Warrant in every particular, without alteration or
enlargement or any change whatsoever.

    
      
         

      

      
        -8-EXHIBIT
10.36

     

    

     

    SECOND AMENDMENT TO
REVOLVING CREDIT AND SECURITY AGREEMENT

     

    THIS
SECOND AMENDMENT TO REVOLVING CREDIT AND SECURITY AGREEMENT (this “Agreement”) is entered into on
this 14th day of April 2009 (the “Effective Date”), by and among
NEOGENOMICS LABORATORIES,
INC., a Florida corporation formerly known as NeoGenomics, Inc. (“Borrower”), NEOGENOMICS, INC., a Nevada
corporation (“Guarantor”, together with
Borrower, each individually a “Credit Party” and
collectively, the “Credit
Parties”), and CAPITALSOURCE FINANCE LLC, a
Delaware limited liability company, as agent for the lender under the Credit
Agreement referred to below (“Agent”).

     

    RECITALS

     

    A. Credit
Parties and CapitalSource Finance LLC (together with its successors and assigns,
CSF”) have entered into
that certain Revolving Credit and Security Agreement, dated as of February 1,
2008 as amended by that certain First Amendment to Revolving Credit and Security
Agreement dated November 3, 2008 (as may be amended, restated, supplemented, or
otherwise modified from time to time, the “Credit
Agreement”).

     

    B. Pursuant
to Section 15.2
of the Credit Agreement, CSF assigned the Revolving Facility to CapitalSource
Bank (“Lender”).

     

    C. Pursuant
to Section
15.12 of the Credit Agreement, Lender has designated Agent as its agent
for taking certain actions under the Loan Agreement.

     

    D. Credit
Parties have requested that Agent agree to make certain amendments to the Credit
Agreement.  Agent has agreed to this request on the conditions set
forth in this Agreement.

     

    E. Pursuant
to the terms and conditions of this Agreement, Credit Parties and Agent have
agreed to amend certain provisions of the Credit Agreement.

     

    NOW,
THEREFORE, in consideration of the premises herein contained and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties, intending to be legally bound, agree as
follows:

     

    AGREEMENT

     

    ARTICLE
I -
DEFINITIONS

     

    1.01 Definitions.  The
following definition is added to Section 1.2 of the Credit Agreement in the
appropriate alphabetical order:

     

    “Second Amendment
Date” shall mean April 14, 2009”.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    1.02 General
Terms.  Capitalized terms used in this Agreement are defined in
the Credit Agreement, as amended hereby, unless otherwise stated.

     

    ARTICLE
II– WAIVER AND
CONSENT

     

    2.01 Waiver.

     

    (a) The
following Events of Default have occurred and are continuing under the Credit
Agreement:

     

    (i)    the
failure of Borrower to comply with the Fixed Charge Coverage Ratio covenant set
forth in Section 1 of Annex I to the Loan Agreement for the Test Period ending
December 31, 2008;

     

    (ii)    the
failure of Borrower to notify Lender of Borrower’s name change to Neogenomics
Laboratories, Inc. and to obtain Lender’s prior consent to the related amendment
to Borrower’s Articles of Incorporation;

     

    (iii)           the
failure of the Credit Parties to obtain Lender’s prior written consent to the
amendment of the Guarantor’s By-Laws to allow for a Board of Directors of up to
eight members;

     

    (iv)           the
failure of the Credit Parties to notify Lender the filing by Borrower of a
complaint against Thomas Schofield, a former employee of the Borrower ((i),
(ii), (iii) and (iv) collectively hereinafter referred to as the “Specified Events of
Default”).

     

    (b) Subject
to the conditions contained herein, Agent hereby waives the Specified Events of
Default.  Except as expressly set forth herein with respect to the
Specified Events of Default, this letter agreement shall not be deemed to be a
waiver of any Default or Events of Default.  The waiver set forth
herein shall not preclude the future exercise of any other right, power, or
privilege available to Agent or Lender whether under the Credit Agreement, the
Loan Documents or otherwise.

     

    2.02 Consent
to Alter By-Laws of the Borrower.  Notwithstanding
the terms of Section
9.7 of the Credit Agreement to the contrary, Agent consents to the
amendment and restatement of the Bylaws of Borrower in the form and substance of
the proposed by-laws attached hereto as Exhibit A.

     

    2.03 Consent
to Alter By-Laws of the Guarantor.  Notwithstanding
the terms of Section
9.7 of the Credit Agreement to the contrary, Agent consents to the
amendment and restatement of the Bylaws of Guarantor in the form and substance
of the proposed by-laws attached hereto as Exhibit B.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    ARTICLE
III -
AMENDMENTS

     

    3.01 Amendments
to Annex I of the Credit Agreement.  Effective as of the
Effective Date, Annex
I of the Credit Agreement is hereby amended by:

     

    (a) Deleting
Section 3 of Annex
I in its entirety and replacing it with the following:

     

    
      3)  Minimum
Liquidity

    

     

    For the
period from the Second Amendment Date through and including December 31, 2009,
the Minimum Liquidity shall not be less than $500,000.

     

    (b) deleting
the definition of Fixed Charge Coverage Ratio in Annex I in its
entirety and replacing it with the following:

     

    “Fixed Charge Coverage
Ratio” shall mean for Borrower collectively on a consolidated basis (a)
as of any date of determination occurring during the period from the Closing
Date through and including the Second Amendment Date the ratio of (i) Adjusted
EBITDA for the Test Period ended as of such date to (ii) Fixed charges for the
Test Period ended on such date; provided, that, solely for
purposes of calculating the Fixed Charge Coverage Ratio for the Test Periods
ending January 31, 2009 and February 28, 2009, the amount of Adjusted EBITDA for
such Test Periods shall be increased by an amount equal to the sum of (A)
$90,000 with respect to recruiting expenses, plus (B) $309,400
with respect to write-offs of bad debt, plus (C) $56,000 with
respect to bonus accrual, (b) as of any date of determination occurring during
the period after the Second Amendment Date to and including December 31, 2009
the ratio of (i) the sum of Adjusted EBITDA for the Test Period ended as of
such date plus
an amount equal to the sum of unrestricted cash on hand, unrestricted Cash
Equivalents and unused Availability as of the last day of the Test Period ended
as of such date, to (ii) Fixed Charges for the Test Period ended as of such
date; and (c) as of any date of determination occurring after December 31, 2009,
the ratio of (i) Adjusted EBITDA for the Test Period ended as of such date
to (ii) Fixed Charges for the Test Period ended as of such date.

     

    (c) deleting
the definition of Fixed Charges in Annex I in its
entirety and replacing it with the following:

     

    “Fixed
Charges” shall mean, for any period, the sum of the following for Borrower
collectively on a consolidated basis for such period:  (a) Total Debt
Service, (b) un-financed Capital Expenditures paid in cash, (c) income taxes
paid in cash or accrued, and (d) dividends and Distributions paid or accrued or
declared (except for Accumulated Distributions from previous Accumulated
Distribution Fiscal Quarters); reduced by the amount of any equity contributions
received by the Borrower in cash during such period; provided that the amount of
such reduction shall not exceed the amount of unfinanced Capital Expenditures
paid for by Borrower in cash during such period.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    3.02 Amendment
to Definition of Permitted Indebtedness.  Effective as of
the Effective Date, subsection (iii) of the definition of “Permitted
Indebtedness” set forth in Section 1.2 of the Credit Agreement is hereby amended
and restated in its entirety to read as follows:

     

    “(iii)
Capitalized Lease Obligations incurred after the Closing Date and Indebtedness
incurred to purchase Goods and secured by purchase money Liens constituting
Permitted Liens: (A) in aggregate amount outstanding at any time not to exceed
$4,000,000, provided, that,  (1) the debt service
for such Indebtedness shall not exceed $1,500,000 for any twelve (12) month
period and (2) upon the incurrence of such Indebtedness and after giving effect
thereto no Default or Event of Default shall exist and be continuing and (B) in
an aggregate amount in excess of $4,000,000, provided, that, (1) ten (10)
Business Days prior to the incurrence of such Indebtedness Borrower shall have
provided pro forma financial statements along with any other supporting
documentation required by Lender evidencing that Borrower would have been in
compliance with the financial covenants set forth on Annex 1 hereto for the
immediately preceding Test Period (as defined on Annex 1 hereto), if such
Indebtedness had been incurred on the first day of such Test Period, (2) prior
to the incurrence of such Indebtedness Borrower shall have received Lender’s
written confirmation of its agreement with such pro forma financial statements;
and (3) upon the incurrence of such Indebtedness and after giving effect thereto
no Default or Event of Default shall exist and be continuing,”

     

    3.03 Representation
and Warranties Updates.  Effective as of
the Effective Date, Article VII of the Credit Agreement is hereby amended
by:

     

    (a) Subsection
(iv) of Section 7.5 is hereby deleted and replaced its entirety with the
following:

     

    “(iv) a
party to any contract with any Affiliate other than as set forth on Schedule 7.5, except
for employment agreements, option agreements, confidentiality agreements,
non-solicitation/non-competition agreements and other compensation, severance or
consulting arrangements with directors or officers in the ordinary course of
business that are on terms at least as favorable to such Credit Party as would
be the case in an arm’s length transaction between unrelated parties of equal
bargaining power and under which payments due from Credit Parties are not more
than $500,000 per annum per arrangement.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    (b) Subsection
(i) of Section 7.16 is hereby deleted and replaced its entirety with the
following:

     

    “(i)
there are no existing or proposed agreements,  arrangements,
understandings or transactions between any Credit Party and any of such Credit
Party’s officers, members, managers, directors, stockholders, partners, other
interest holders, employees or Affiliates or any members of their respective
immediate families, other than employment agreements, option agreements,
confidentiality agreements, non-solicitation/non-competition agreements and
other compensation, severance or consulting arrangements with directors or
officers in the ordinary course of business that are on terms at least as
favorable to such Credit Party as would be the case in an arm’s length
transaction between unrelated parties of equal bargaining power and under which
payments due from Credit Parties are not more than $500,000 per annum per
arrangement.”

     

    3.04 Schedules.

     

    The
schedules to the Credit Agreement are deleted and replaced in their entirety
with the amended and restated schedules attached to this Agreement as Exhibit
C.

     

    ARTICLE
IV- CONDITIONS PRECEDENT

     

    4.01 Conditions
to Effectiveness.  The effectiveness
of this Agreement against Lender is subject to the satisfaction of the following
conditions precedent in a manner satisfactory to Agent in its sole discretion,
unless specifically waived in writing by Agent:

     

    (a) Agent
shall have received this Agreement duly executed by each party thereto;
and

     

    (b) Agent
shall have received the Amendment Fee (as hereinafter defined).

     

    ARTICLE
V-
RATIFICATIONS, REPRESENTATIONS AND WARRANTIES

     

    5.01 Ratifications.  The terms and
provisions set forth in this Agreement shall modify and supersede all
inconsistent terms and provisions set forth in the Credit Agreement and the Loan
Documents, and, except as expressly modified and superseded by this Agreement,
the terms and provisions of the Credit Agreement and the Loan Documents are
ratified and confirmed and shall continue in full force and
effect.  The Credit Parties hereby ratify and confirm that the Liens
granted under the Credit Agreement secure all obligations and indebtedness now,
hereafter or from time to time made by, owing to or arising in favor of Lender
pursuant to the Loan Documents (as now, hereafter, or from time to time
amended).  Credit Parties and Agent agree that the Credit Agreement
and the Loan Documents, as amended hereby, shall continue to be legal, valid,
binding and enforceable in accordance with their respective terms.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    5.02 Representations
and Warranties.  The Credit
Parties hereby represent and warrant to Agent that:

     

    (a) The
representations and warranties made by Borrower (other than those made as of a
specific date) contained in the Credit Agreement, as amended hereby, and each
Loan Document are true and correct in all material respects (except that, for
those representations and warranties already qualified by concepts of
materiality, those representations and warranties shall be true and correct in
all respects) on and as of the date hereof and as of the date of execution
hereof as though made on and as of each such date;

     

    (b) No
Default or Event of Default under the Credit Agreement, as amended hereby, has
occurred and is continuing, except for the Specified Events of
Default;

     

    (c) Other
than as contemplated hereby, Borrower has not amended its certificate of
incorporation or bylaws (or any other equivalent governing agreement or
document), as applicable, since the date of the Credit Agreement.

     

    ARTICLE
VI- AMENDMENT
FEE

     

    6.01 Amendment
Fee.  Borrower agrees to pay to Lender $25,000 as an amendment
fee (the “Amendment
Fee”), which fee shall be due and payable on the date
hereof.  Borrower hereby authorizes Agent to charge such fee as an
Advance on the date hereof and shall be fully earned by Lender when so
charged.

     

    ARTICLE
VII-
MISCELLANEOUS PROVISIONS

     

    7.01 Survival
of Representations and Warranties.  All
representations and warranties made in the Credit Agreement, or any Loan
Document, including, without limitation, any document furnished in connection
with this Agreement, shall survive the execution and delivery of this Agreement
and the Loan Documents, and no investigation by Agent or Lender or any closing
shall affect the representations and warranties or the right of Agent or Lender
to rely upon them.

     

    7.02 Reference
to Credit Agreement.  Each of the
Credit Agreement and the Loan Documents, and any and all Loan Documents,
documents or instruments now or hereafter executed and delivered pursuant to the
terms hereof or pursuant to the terms of the Credit Agreement, as amended
hereby, are hereby amended so that any reference in the Credit Agreement and
such Loan Documents to the Credit Agreement shall mean a reference to the Credit
Agreement, as amended hereby.

     

    7.03 Expenses
of Agent or Lender.  As provided in
the Credit Agreement, the Credit Parties agree to pay on demand all costs and
expenses incurred by each of Agent and Lender in connection with the
preparation, negotiation, and execution of this Agreement and the Loan Documents
executed pursuant hereto and any and all amendments, modifications, and
supplements thereto, including, without limitation, the reasonable costs and
fees of Agent and Lender’s legal counsel, and all costs and expenses incurred by
Agent and Lender in connection with the enforcement or preservation of any
rights under the Credit Agreement, as amended hereby, or any Loan Documents,
including, without, limitation, the reasonable costs and fees of Agent and
Lender’s legal counsel.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    7.04 Severability.  Any provision of
this Agreement held by a court of competent jurisdiction to be invalid or
unenforceable shall not impair or invalidate the remainder of this Agreement and
the effect thereof shall be confined to the provision so held to be invalid or
unenforceable.

     

    7.05 Successors
and Assigns.  This Agreement is
binding upon and shall inure to the benefit of Agent, Lender and Credit Parties
and their respective successors and assigns, except that Credit Parties may not
assign or transfer any of their rights or obligations hereunder without the
prior written consent of Agent.

     

    7.06 Counterparts.  This Agreement
may be executed in one or more counterparts, each of which when so executed
shall be deemed to be an original, but all of which when taken together shall
constitute one and the same instrument.  Any signature delivered by a
party by facsimile or other electronic transmission shall be deemed to be an
original signature hereto.

     

    7.07 Effect of
Waiver.  No consent or
waiver, express or implied, by Agent or Lender to or for any breach of or
deviation from any covenant or condition by Borrower shall be deemed a consent
to or waiver of any other breach of the same or any other covenant, condition or
duty.

     

    7.08 Headings.  The headings,
captions, and arrangements used in this Agreement are for convenience only and
shall not affect the interpretation of this Agreement.

     

    7.09 Applicable
Law.  THIS AGREEMENT
AND ALL LOAN DOCUMENTS EXECUTED PURSUANT HERETO SHALL BE DEEMED TO HAVE BEEN
MADE AND TO BE PERFORMABLE IN AND SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE CHOICE OR LAW SET FORTH IN THE CREDIT
AGREEMENT.

     

    7.10 Final
Agreement.  THE CREDIT
AGREEMENT AND THE LOAN DOCUMENTS, EACH AS AMENDED HEREBY, REPRESENT THE ENTIRE
EXPRESSION OF THE PARTIES WITH RESPECT TO THE SUBJECT MATTER HEREOF ON THE DATE
THIS AGREEMENT IS EXECUTED.  THE CREDIT AGREEMENT AND THE LOAN
DOCUMENTS, AS AMENDED HEREBY, MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR,
CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.  THERE
ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.  NO
MODIFICATION, RESCISSION, WAIVER, RELEASE OR AGREEMENT OF ANY PROVISION OF THIS
AGREEMENT SHALL BE MADE, EXCEPT BY A WRITTEN AGREEMENT SIGNED BY THE CREDIT
PARTIES AND AGENT.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    7.11 Release.  EACH CREDIT PARTY
HEREBY ACKNOWLEDGES THAT IT HAS NO DEFENSE, COUNTERCLAIM, OFFSET,
CROSS-COMPLAINT, CLAIM OR DEMAND OF ANY KIND OR NATURE WHATSOEVER THAT CAN BE
ASSERTED TO REDUCE OR ELIMINATE ALL OR ANY PART OF ITS LIABILITY TO REPAY THE
“OBLIGATIONS” OR TO SEEK AFFIRMATIVE RELIEF OR DAMAGES OF ANY KIND OR NATURE
FROM AGENT OR LENDER.  EACH CREDIT PARTY HEREBY VOLUNTARILY AND
KNOWINGLY RELEASES AND FOREVER DISCHARGES AGENT, LENDER, AND ANY OF ITS OR THEIR
RESPECTIVE PREDECESSORS, AGENTS, ATTORNEYS, EMPLOYEES, AFFILIATES, SUCCESSORS
AND ASSIGNS, FROM ALL POSSIBLE CLAIMS, DEMANDS, ACTIONS, CAUSES OF ACTION,
DAMAGES, COSTS, EXPENSES, AND LIABILITIES WHATSOEVER, KNOWN OR UNKNOWN,
ANTICIPATED OR UNANTICIPATED, SUSPECTED OR UNSUSPECTED, FIXED, CONTINGENT, OR
CONDITIONAL, AT LAW OR IN EQUITY, ORIGINATING IN WHOLE OR IN PART ON OR BEFORE
THE DATE THIS AGREEMENT IS EXECUTED, WHICH BORROWER MAY NOW OR HEREAFTER HAVE
AGAINST AGENT, LENDER, OR ANY OF ITS RESPECTIVE PREDECESSORS, ATTORNEYS, AGENTS,
EMPLOYEES, AFFILIATES, SUCCESSORS AND ASSIGNS, IF ANY, AND IRRESPECTIVE OF
WHETHER ANY SUCH CLAIMS ARISE OUT OF CONTRACT, TORT, VIOLATION OF LAW OR
REGULATIONS, OR OTHERWISE, AND ARISING FROM ANY “LOANS”, INCLUDING, WITHOUT
LIMITATION, ANY CONTRACTING FOR, CHARGING, TAKING, RESERVING, COLLECTING OR
RECEIVING INTEREST IN EXCESS OF THE HIGHEST LAWFUL RATE APPLICABLE, THE EXERCISE
OF ANY RIGHTS AND REMEDIES UNDER THE CREDIT AGREEMENT OR LOAN DOCUMENTS, AND
NEGOTIATION FOR AND EXECUTION OF THIS AGREEMENT.

     

    

    [REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK]

     

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    IN
WITNESS WHEREOF, this Agreement has been executed and is effective as of the
date first written above.

    
      
        
          
            	 
      	 
      
	 
      	
                    BORROWER:

                  
	 
      	 
      
	 
      	
                    NEOGENOMICS
      LABORATORIES, INC.,

                    a
      Florida corporation

                  
	 
      	 
      
	 
      	
                    By: /s/
      Steven
      C. Jones

                    Name:  Steven
      C. Jones

                    Title:  Chief
      Financial Officer

                     

                     

                  
	 
      	
                    GUARANTOR:

                  
	 
      	 
      
	 
      	
                    NEOGENOMICS,
      INC., a Nevada corporation

                  
	 
      	 
      
	 
      	
                    By: /s/
      Steven
      C. Jones

                    Name:  Steven
      C. Jones

                    Title:  Chief
      Financial Officer

                     

                     

                  
	 
      	 
      
	 
      	
                    CAPITALSOURCE
      FINANCE LLC, as Agent

                     

                    By: /s/
      Arturo
      J. Velez

                    Name:  Arturo
      J. Velez

                    Title:  Authorized
      Signatory

                  
	 
      	 
      

          

        

      

    

    

    
      
        
        

      

      
        9

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}]]