Document:

Exhibit
      10.45

            

    

    

    
      	
              Consulting
      Agreement: Steven C. Jones

            

    

    

    This
consulting agreement (the “Agreement”) is entered into on this 3rd day of May,
2010 by and between Steven Jones an individual whose legal address is indicated
in the signature section of this Agreement (“Mr. Jones” or the “Consultant”) and
NeoGenomics, Inc, a Nevada Company with its principal office located at 12701
Commonwealth Drive, Suite 5, Fort Myers, FL  33913, together with its
wholly-owned subsidiary, NeoGenomics Laboratories, Inc., a Florida company
(collectively “NeoGenomics” or the “Company”).

    

    RECITALS:

    

    WHEREAS, Mr. Jones served as the
Company’s Chief Financial Officer from 2003 - 2009 and has been serving as the
Company’s Executive Vice President – Finance since Dec 2009; and

    

    WHEREAS, NeoGenomics desires to
recognize Mr. Jones’ past performance to the Company and to formalize an
arrangement whereby Mr. Jones will continue to serve as the Company’s Executive
Vice President – Finance by entering into this Agreement; and

    

    WHEREAS,
Mr. Jones desires to continue to provide consulting services to NeoGenomics on
the terms outlined herein;

    

    NOW,
THEREFORE, in consideration of the mutual promises herein contained, the parties
agree as follows:

    

    1.     
      Term of
Engagement.  This Agreement shall be effective for a period of
three (3) years, beginning on the date of this Agreement (the “Effective Date”)
and running through April 30, 2013 (the “Initial Term”).  After the Initial Term, this Agreement
shall automatically renew for consecutive one year periods (“Renewal Term”),
unless a written notice of a party’s intention to terminate this Agreement at
the expiration of the Initial Term (or any Renewal Term) is delivered by either
party at least three (3) months prior to the expiration of the Initial Term or
any Renewal Term, as applicable.  For purposes of this Agreement, the
period from the Effective Date until the termination of this Agreement,
including during any Renewal Term, for any reason shall hereinafter be referred
to as the “Term”.  Notwithstanding the foregoing, the Company
and/or Consultant shall have the right to terminate this Agreement pursuant to
paragraph 7 hereof at anytime.

    

    2.            Services.  During
the Term, Consultant will continue to provide financial consulting services to
the Company in the capacity of the Company’s Executive Vice President – Finance,
subject to the direction of the Company’s Chief Executive
Officer.  Without limiting the generality of the foregoing, it is
presently contemplated that the Consultant shall have the following
duties:

    

    
      	
               
      

            	
              a)

            	
              Provide
      financial advice and guidance to the Company with respect to the overall
      financial operations of the
Company;

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
               
      

            	
              b)

            	
              Provide
      strategic advice to the Company with respect to major growth initiatives
      for the Company and/or potential mergers or
  acquisitions;

            

    

     

    
      	
               
      

            	
              c)

            	
              Serve
      as the Company’s Director of Investor Relations and act as liaison to the
      investment community;

            

    

     

    
      	
               
      

            	
              d)

            	
              Provide
      leadership and guidance in drafting and issuing press releases on behalf
      of the Company;

            

    

     

    
      	
               
      

            	
              e)

            	
              Provide
      leadership, guidance and assistance in negotiating and drafting contracts
      with employees, vendors, clients, strategic partners, and other parties
      with whom the Company may due
business;

            

    

     

    
      	
               
      

            	
              f)

            	
              Provide
      leadership, guidance and assistance to the Company in raising debt or
      equity capital, when requested to do
so;

            

    

     

    
      	
               
      

            	
              g)

            	
              Provide
      leadership, guidance and assistance with any litigation in which the
      Company is now or may become
involved;

            

    

     

    
      	
               
      

            	
              h)

            	
              Provide
      leadership, guidance and assistance in drafting and reviewing SEC
      filings;

            

    

     

    
      	
               
      

            	
              i)

            	
              Manage
      the Company’s corporate secretary function and ensure board minutes and
      other documents are properly
drafted;

            

    

     

    
      	
               
      

            	
              j)

            	
              Provide
      leadership, guidance and assistance during the design, development and
      launch of new products;

            

    

     

    
      	
               
      

            	
              k)

            	
              Provide
      leadership, guidance and assistance in the development of forecast models
      for various business opportunities;

            

    

     

    
      	
               
      

            	
              l)

            	
              Provide
      expertise on technical, functional and/or business topics as may be
      requested;

            

    

     

    
      	
               
      

            	
              m)

            	
              Travel
      at the request of the Company to assist with any of the above
      duties.

            

    

     

    
      	
               
      

            	
              n)

            	
              Such
      other duties as may be assigned from time-to-time by the Chief Executive
      Officer of the Company.  The spirit of this section is to try
      and account for other activities or issues that have not been addressed or
      identified in (a) through (m)
above.

            

    

    

    3.        
   Agreements of
NeoGenomics.  Pursuant to this Agreement, NeoGenomics agrees to
provide such support as Consultant may reasonably request in order to perform
the duties outlined in paragraph 2.  The Company agrees to provide an
office for Consultant to use while he is working on site at NeoGenomics
headquarters’ location in Ft. Myers, FL.

    

    4.        
   Compensation and
Expenses.  In consideration for the services rendered by the
Consultant to the Company throughout the Term, the Company shall compensate
Consultant as follows:

    

    a)           Monthly
Retainer.  The Company agrees to pay Consultant a cash
consulting fee of one hundred eighty thousand dollars ($180,000) per annum (the
“Base Retainer”) in twelve (12) monthly installments of fifteen thousand dollars
($15,000) per month, in arrears.  Such payments will be made monthly
within fifteen (15) days of the end of the month for which services were
provided.  The Company agrees that if requested by Consultant, it will
set up a regularly recurring ACH transfer to Consultant’s designated bank
account.  Consultant and Company agree that this Base Retainer amount
has been structured based upon a targeted level of Consultant’s service to the
Company of one hundred (100) hours/month on average throughout the Term, with
the understanding that some months may have more service time and some months
less service time.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    
 

    b)           Participation in the
Company’s Management Incentive Plan.   The Company agrees
that Consultant shall participate in the Company’s Management Incentive Plan
(“MIP”) as it may be structured in any given fiscal year for senior officers of
the Company.  The Company agrees that it will target a payout of
thirty percent (30%) of the Base Retainer (the “Target Payout”) for any given
fiscal year for meeting certain performance objectives laid out by the Company,
and that the Consultant will have the ability to earn up to one hundred fifty
percent (150%) of the Target Payout if such performance objectives are exceeded
by the amount specified in any such year’s MIP.  The Consultant agrees
that the Company, at its option, may specify that up to eighty percent (80%) of
any year’s Target Payout be tied to meeting companywide financial performance
thresholds.  The Consultant further agrees that the specifics of any
given year’s MIP plan will be governed by whatever is approved by the Company’s
Board of Directors for such fiscal year.

     

    c)           Expenses.   In
addition to any compensation payable hereunder, the Company shall also reimburse
Consultant for all expenses reasonably incurred by Consultant in connection with
the services performed on behalf of NeoGenomics under this Agreement including,
but not limited to, airfare, hotel, food, and a standard mileage allowance
pursuant to IRS guidelines for travel on Company business using a personally
owned vehicle (collectively “Business Expenses”), upon providing the original
receipts and an expense report for such expenses in accordance with the
Company’s expense reimbursement policy then in effect.  Consultant
agrees to seek prior written authorization before incurring aggregate Business
Expenses in excess of $2,000 in any given calendar month.

    

    5.             Warrants.  In
consideration of Consultant’s service to the Company as Chief Financial Officer
from 2003 through 2009 and in consideration of Consultant’s continued services
as Executive Vice President – Finance during the Term, the Company agrees that
it will issue to the Consultant a warrant to purchase four hundred fifty
thousand (450,000) shares of the Company’s common stock, par value
$0.001/share.  Such warrant will be issued pursuant to a separate
warrant agreement (the “Warrant Agreement”) which will specify a) a seven year
term for the warrant, b) an exercise price of $1.50/share, c) the ability to do
a cashless net exercise, and d) vesting as follows:

    

    
      	
               
      

            	
              i)

            	
              225,000
      of such warrant shares shall vest immediately;
  and

            

    

    

    
      	
               
      

            	
              ii)

            	
              112,500
      of such warrant shares shall vest according to the passage of time, with
      4,687 warrant shares vesting on the last day of each calendar month for
      twenty-three (23) months, beginning with the month ending May 31, 2010 and
      continuing until the month ending March 31, 2012 and 4,699 warrant shares
      vesting on April 30, 2012 so long as Consultant continues to provide
      services to the Company pursuant to this Agreement or any successor
      agreement.

            

    

    

    
      	
               
      

            	
              iii)

            	
              112,500
      of such warrant shares shall vest according to whether or not the Company
      meets certain financial targets as specified below for FY 2010 and FY
      2011:

            

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    
 

    
      	
               
      

            	
              -

            	
              28,125
      will vest if the Company’s actual consolidated revenue for FY 2010, meets
      or exceeds the consolidated revenue goal established by the Board of
      Directors (the “Board”) for the vesting of performance options and
      warrants; and

            

    

    

    
      	
               
      

            	
              -

            	
              28,125
      will vest if the Company’s actual Adjusted EBITDA for FY 2010, meets or
      exceeds the consolidated Adjusted EBITDA goals established by the Board
      for the vesting of performance options and warrants;
  and

            

    

    

    
      	
               
      

            	
              -

            	
              28,125
      will vest if the Company’s actual consolidated revenue for FY 2011, meets
      or exceeds the consolidated revenue goal established by the Board for the
      vesting of performance options and warrants;
and

            

    

    

    
      	
               
      

            	
              -

            	
              28,125
      will vest if the Company’s actual Adjusted EBITDA for FY 2011, meets or
      exceeds the consolidated Adjusted EBITDA goals established by the Board
      for the vesting of performance options and warrants;
  and

            

    

    

    
      	
               
      

            	
              iv)

            	
              The
      vesting schedule of such warrant shall also specify that any unvested
      warrant shares shall vest upon the occurrence of a change of
      control.

            

    

    

    6.        
   Confidentiality,
Non-Solicitation, Non-Competition and Title to Work Product
Agreement.  In consideration of entering into this Agreement
and the Warrant Agreement, Consultant agrees that he will enter into the
Company’s standard form of Confidentiality, Non-Solicitation, Non-Competition
and Title to Work Product Agreement (the “Confidentiality Agreement”) as
structured for officers of the Company.

    

    7.             Termination. The Company
shall have the right to terminate this Agreement at any time by giving written
notice to the Consultant twelve (12) months prior to the effective date of
termination ("Termination" or “Termination Date”).  The Consultant
shall have the right to terminate this Agreement at any time by giving written
notice to the Company three (3) months prior to the proposed Termination Date,
provided, however, the Consultant agrees that he will agree to an additional
three (3) months of transition services to the Company upon reasonable request
by the Company.  The
obligation of the Company to pay for consulting services hereunder shall continue during the time
from either party’s written notification of a Termination until the actual
Termination Date.  All unpaid compensation owed to Consultant hereunder as of any Termination Date, including reimbursement of business
and business-related travel expenses, shall be paid to Consultant within
fifteen (15) days of such Termination Date.  The Company further
agrees that it will prorate any MIP payments that may be due to the Consultant
for a partial year in which a Termination occurs based on the number of days
served up to the Termination Date in such year.

    

    Upon
Termination, Consultant agrees to cease all representation on behalf of the
Company, including, but not limited to representations to the Company’s
investors, partners, vendors, clients or employees that Consultant is acting on
behalf of the Company in any capacity; provided, however the Consultant agrees
to answer any reasonable follow-up inquiries from the Company regarding any
pending matters at the Termination Date.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    8.        
   Miscellaneous.

     

    
      	
               
      

            	
              a)

            	
              This
      Agreement supersedes all prior agreements and understandings between the
      parties and may not be modified or terminated orally.  The
      Consultant hereby waives any claims that it might have under any previous
      oral or other contract.  No modification or attempted waiver of
      this Agreement will be valid unless in writing and signed by the party
      against whom the same is sought to be
enforced.

            

    

     

    
      	
               
      

            	
              b)

            	
              The
      provisions of this Agreement are separate and severable, and if any of
      them is declared invalid and/or unenforceable by a court of competent
      jurisdiction or an arbitrator, the remaining provisions shall not be
      affected.

            

    

     

    
      	
               
      

            	
              c)

            	
              This
      Agreement is the joint product of the Company and the Consultant and each
      provision hereof has been subject to the mutual consultation, negotiation
      and agreement of the Company and the Consultant and shall not be construed
      for or against either party hereto.

            

    

     

    
      	
               
      

            	
              d)

            	
              This
      Agreement will be governed by, and construed in accordance with the
      provisions of the law of the State of Florida, without reference to
      provisions that refer a matter to the law of any other
      jurisdiction.  Each party hereto hereby irrevocably submits
      itself to the exclusive personal jurisdiction of the federal and state
      courts sitting in Lee County, Florida; accordingly, any matters involving
      the Company and the Consultant with respect to this Agreement may be
      adjudicated only in a federal or state court sitting in Lee County,
      Florida.

            

    

     

    
      	
               
      

            	
              e)

            	
              All
      notices and other communications required or permitted under this
      Agreement shall be in writing, and shall be deemed properly given if
      delivered personally, mailed by registered or certified mail in the United
      States mail, postage prepaid, return receipt requested, sent by facsimile,
      or sent by Express Mail, Federal Express or nationally recognized express
      delivery service, as follows:

            

    

     

    
      	
               
      

            	
              (i)

            	
              If
      to the Company, at the address listed at the preamble to this Agreement or
      its then primary executive offices to the attention of the
      CEO;

            

    

     

    
      	
               
      

            	
              (ii)

            	
              If
      to the Consultant, at the address listed as the Consultant’s primary legal
      residence which is listed at the signature block of this agreement or such
      other address as the Company may have on file for the
      Consultant.

            

    

     

    
      	
               
      

            	
              Notice
      given by hand, certified or registered mail, or by Express Mail, Federal
      Express or other such express delivery service, shall be effective upon
      actual receipt.  Notice given by facsimile transmission shall be
      effective upon telephonic confirmation of receipt by the party to whom it
      is addressed.  All notices by facsimile transmission shall be
      followed up promptly after transmission by delivering an original copy by
      hand, certified or registered mail, or by Express Mail, Federal Express or
      other such delivery service.  Any party may change any address
      to which notice is to be given to it by giving notice as provided above of
      such change of address.

            

    

     

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

     

    
      	
               
      

            	
              f)

            	
              Consultant
      understands and acknowledges that if this Agreement is deemed to be a
      material agreement of the Company, it may need to be filed with the
      Securities and Exchange Commission or provided to a regulatory body in
      conjunction with any audits or investigations of the Company’s activities
      and expressly gives permission to provide this Agreement as needed in such
      instances.

            

    

     

    
      	
               
      

            	
              g)

            	
              The
      parties agree that the Consultant is acting as an independent contract
      under current Internal Revenue Service guidelines in the provision of
      services under this Agreement and that the Consultant shall be solely
      responsible for paying all taxes due on any Compensation
      hereunder.  The Consultant understands and acknowledges that all
      Compensation hereunder is taxable to the Consultant and the Company may
      have an affirmative obligation to report such amounts of Compensation on
      Form 1099 to the Internal Revenue Service each
      year.  Notwithstanding the forgoing, the Company agrees that the
      Consultant may assign any compensation payable hereunder to any
      corporation controlled by the Consultant upon written notice to the
      Company.  The Consultant agrees to provide his social security
      or an appropriate tax identification number upon
  request.

            

    

     

    
      	
               
      

            	
              h)

            	
              This
      Agreement may be signed in counterparts, and by fax or Adobe PDF, each of
      which shall be an original, with the same effect as if the signatures
      thereto and hereto were upon the same
  instrument.

            

    

     

    IN
WITNESS WHEREOF, the parties have executed this Agreement on the day and year
first set forth above.

     

    
      	
              NEOGENOMICS,
      INC.:

            	 	
              CONSULTANT:

            	 
	 	 	 	 	 
	 
      	 
      	 	 
      	 
	
              By:

            	      
              /s/
      Douglas M. VanOort

            	 	/s/
      Steven C. Jones	 
	
              Name:

            	      
              Douglas
      M. VanOort

            	 	
              Mr.
      Steven C. Jones

            	 
	
              Title:

            	      
              Chief
      Executive Officer

            	 	
              Legal
      Residence:

            	 
	 
      	 
      	 	
              1740
      Persimmon Drive

            	 
	 
      	 
      	 	
              Naples,
      FL 34109

            	 

    

    

    

     

    
      
        
        

      

      
        6Exhibit
10.46

     

    THE
SECURITIES REPRESENTED HEREBY AND THE SECURITIES WHICH MAY BE ISSUED UPON
EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, OR ANY STATE SECURITIES OR BLUE SKY LAWS.  NO SALE OR
DISTRIBUTION HEREOF OR THEREOF MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION
STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO
THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER APPLICABLE SECURITIES
LAWS.

     

    

     

    WARRANT
AGREEMENT

     

    THIS
WARRANT AGREEMENT (this “Agreement”) is dated this 3rd day of May 2010, by and
between NeoGenomics, Inc., a Nevada corporation (the “Company”), and Steven C.
Jones, an individual residing at 1740 Persimmon Drive, Naples, FL 34109 (the
“Warrant Holder”).

     

    WITNESSETH

     

    WHEREAS,
Warrant Holder served as the Company’s Chief Financial Officer from 2003-2009
and has been serving as the Company’s Executive Vice President – Finance since
December 2009; and

     

    WHEREAS,
prior to the date hereof, the Company has not granted the Warrant Holder any
stock-based compensation for his services as an officer of the Company;
and

     

    WHEREAS,
as of the date hereof, the Company has entered into a consulting agreement (the
“Consulting Agreement”) with the Warrant Holder, pursuant to which the Warrant
Holder has agreed to continue to serve as the Company’s Executive Vice President
– Finance; and

     

    WHEREAS,
the Company desires to recognize the Warrant Holder’s past service to the
Company and to provide additional incentives to the Warrant Holder to create
shareholder value for the Company’s shareholders in his continuing role as
Executive Vice President – Finance; and

     

    WHEREAS,
pursuant to the Consulting Agreement, the Company agreed to issue to the Warrant
Holder a warrant (the “Warrant”) to purchase an aggregate of 450,000 shares of
the Company’s common stock, par value $0.001 per share (“Common Stock”), on the
terms set forth in this Warrant Agreement.

     

    NOW,
THEREFORE, in consideration of the foregoing and the mutual covenants and
promises contained herein, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties agree as
follows:

     

    1.           Incorporation of
Recitals. The Recitals portion of this Agreement is hereby incorporated
by this reference as though it were fully set forth and rewritten herein, and
the affirmative statements therein contained shall be deemed to be
representations of the Company and the Warrant Holder, which are hereby
confirmed.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
 

    2.           Warrant.  The
Company hereby grants to the Warrant Holder, subject to the terms set forth
herein, the right to purchase, subject to the vesting schedule set forth in
Section 12 hereof, at any time during the term (the “Warrant Exercise Term”)
commencing on the date hereof and ending at 5:30 p.m., New York time on the
seventh anniversary of the date of this Agreement (the “Expiration Date”)
450,000 shares of Common Stock (the “Shares”), at an exercise price of $1.50 per
share (the “Exercise Price”).

     

    3.           Exercise of
Warrant.

     

    3.1           Exercise.  The
Warrant may be exercised by the Warrant Holder, in whole or in part, by
delivering the Notice of Exercise purchase form, attached as Exhibit A hereto (the
“Notice of Exercise”), duly executed by the Warrant Holder to the Company at its
principal office, or at such other office as the Company may designate,
accompanied by payment, in cash or by wire transfer or check payable to the
order of the Company, of the amount obtained by multiplying the number of Shares
designated in the Notice of Exercise by the Exercise Price (the “Purchase
Price”).  The Purchase Price may also be paid, in whole or in part, by
delivery of such purchase form and of shares of Common Stock owned by the
Warrant Holder having a Market Price (as defined in Section 3.3 hereof) on the
last business day ending the day immediately prior to the Exercise Date (as
defined below) equal to the portion of the aggregate Exercise Price being paid
in such shares.  In addition, the Warrant may be exercised, pursuant
to a cashless exercise by providing irrevocable instructions to the Company,
through delivery of the Notice of Exercise with an appropriate reference to this
Section 3.1 to issue the number of shares of the Common Stock equal to the
product of (a) the number of shares as to which the Warrant is being exercised
multiplied by (b) a fraction, the numerator of which is the Market Price of a
share of the Common Stock on the last business day preceding the Exercise Date
less the Exercise Price therefor and the denominator of which is such Market
Price.  For purposes hereof, “Exercise Date” shall mean the date on
which all deliveries required to be made to the Company upon exercise of the
Warrant pursuant to this Section 3.1 shall have been made.

     

    3.2           Issuance of
Certificates.  As soon as practicable after the exercise of the
Warrant (in whole or in part) in accordance with Section 3.1 hereof, the
Company, at its expense, shall cause to be issued in the name of and delivered
to the Warrant Holder (i) a certificate or certificates for the number of
fully-paid and non-assessable Shares to which the Warrant Holder shall be
entitled upon such exercise and (if applicable) (ii) a new warrant agreement of
like tenor to purchase all of the Shares that may be purchased pursuant to the
portion, if any, of the Warrant not exercised by the Warrant
Holder.  The Warrant Holder shall for all purposes be deemed to have
become the holder of record of such Shares on the date on which the Notice of
Exercise and payment of the Purchase Price in accordance with Section 3.1 hereof
were delivered and made, respectively, irrespective of the date of delivery of
such certificate or certificates, except that if the date of such delivery,
notice and payment is a date when the stock transfer books of the Company are
closed, such person shall be deemed to have become the holder of record of such
Shares at the close of business on the next succeeding date on which the stock
transfer books are open.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    3.3           Market
Price.  The
“Market Price” of a share of Common Stock means:  the average
of the daily closing price of shares of Common Stock on the principal market on
which shares of the Common Stock are traded for the five (5) trading days
immediately preceding the date of the determination of the Market
Price.  If shares of Common Stock are not traded on any public market
(e.g. NYSE, AMEX, NASDAQ, OTCBB or Pink Sheets), the Market Price of the Common
Stock shall be determined, in good faith, by the Board of Directors of the
Company (the “Board”).

     

    4.           Adjustments.

     

    4.1           Stock Splits, Stock
Dividends and Combinations.  If the Company at any time
subdivides the outstanding shares of the Common Stock or issues a stock dividend
(in Common Stock) on the outstanding shares of the Common Stock, the Exercise
Price in effect immediately prior to such subdivision or the issuance of such
stock dividend shall be proportionately decreased, and the number of Shares
subject hereto shall be proportionately increased, and if the Company at any
time combines (by reverse stock split or otherwise) the outstanding shares of
Common Stock, the Exercise Price in effect immediately prior to such combination
shall be proportionately increased, and the number of Shares subject hereto
shall be proportionately decreased, effective at the close of business on the
date of such subdivision, stock dividend or combination, as the case may
be.

     

    4.2           Merger or
Consolidation.  In the case of any consolidation of the Company
with, or merger of the Company with or into another entity (other than a
consolidation or merger which does not result in any reclassification or change
of the outstanding capital stock of the Company), the entity formed by such
consolidation or merger shall execute and deliver to the Warrant Holder a
supplemental warrant agreement providing that the Warrant Holder of the Warrant
then outstanding or to be outstanding shall have the right thereafter (until the
expiration of such Warrant) to receive, upon exercise of such Warrant, the kind
and amount of shares of capital stock and other securities and property
receivable upon such consolidation or merger by a holder of the number of Shares
for which such Warrant might have been exercised immediately prior to such
consolidation or merger.  Such supplemental warrant agreement shall
provide for adjustments which shall be identical to the adjustments provided in
Section 4.1 hereof and to the provisions of Section 11 hereof.  This
Section 4.2 shall similarly apply to successive consolidations or
mergers.

     

    5.           Transfers.

     

    5.1           Unregistered
Securities.  Warrant Holder hereby acknowledges and agrees that
the Warrant and the Shares have not been registered under the Securities Act of
1933, as amended (the “Securities Act”), and are “restricted securities” under
the Securities Act inasmuch as they are being acquired in a transaction not
involving a public offering, and the Warrant Holder agrees not to sell, pledge,
distribute, offer for sale, transfer or otherwise dispose of the Warrant or any
Shares issued upon exercise of the Warrant in the absence of (a) an effective
registration statement under the Securities Act as to the Warrant or such Shares
and registration and/or qualification of the Warrant or such Shares under any
applicable Federal or state securities law then in effect or (b) an opinion of
counsel, reasonably satisfactory to the Company, that such registration and
qualification are not required.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    5.2           Transferability.  Until
such time as the Shares are vested pursuant to Section 12 hereof, the rights
under this Agreement with respect to such Shares shall not be
transferrable.  After all or any portion of the Shares have vested
pursuant to Section 12 hereof, then subject to the provisions of Section 5.1
hereof, the rights under this Agreement relating only to that portion of the
Shares that are vested are freely transferable, in whole or in part, by the
Warrant Holder, and such transferee shall have the same rights hereunder as the
Warrant Holder.

     

    5.3           Warrant
Register.  The Company will maintain a register containing the
names and addresses of the Warrant Holders of the Warrant.  Until any
transfer of Warrant in accordance with this Agreement is reflected in the
warrant register, the Company may treat the Warrant Holder as the absolute owner
hereof for all purposes.  Any Warrant Holder may change such Warrant
Holder’s address as shown on the warrant register by written notice to the
Company requesting such change.

     

    6.           No Fractional
Shares.  Any adjustment in the number of Shares purchasable
hereunder shall be rounded to the nearest whole share.

     

    7.           Investment
Representations.  The Warrant Holder agrees and acknowledges
that it is acquiring the Warrant and will be acquiring the Shares for his own
account and not with a view to any resale or distribution other than in
accordance with Federal and state securities laws.  The Warrant Holder
is an “accredited investor” within the meaning of Rule 501(a) of Regulation D
promulgated under the Securities Act.

     

    8.           Covenants as to the
Shares.  The Company covenants and agrees that the shares of
Common Stock issuable upon exercise of the Warrant, will, upon issuance in
accordance with the terms hereof, be duly and validly issued and outstanding,
fully-paid and non-assessable, with no personal liability attaching to the
ownership thereof.  The Company further covenants and agrees that the
Company will at all times have authorized and reserved a sufficient number of
shares of Common Stock to provide for the exercise of the rights represented
under this Agreement. The Company will pay all documentary stamp taxes
attributable to the initial issuance of Shares upon the exercise of the Warrant;
provided, however, that the
Company shall not be required to pay any tax or taxes which may be payable in
respect of any transfer involved in the issue of any certificates  for
Shares in a name other than that of the Warrant Holder, and the Company shall
not be required to issue or deliver such certificates unless or until the person
or persons requesting the issuance thereof shall have paid to the Company the
amount of such tax or shall have established to the satisfaction of the Company
that such tax has been paid.

     

    9.           Legend.  Any
certificate evidencing the Shares issuable upon exercise hereof will bear a
legend indicating that such securities have not been registered under the
Securities Act or under any state securities laws and may not be sold or offered
for sale in the absence of an effective registration statement as to the
securities under the Securities Act and any applicable state securities law or
an opinion of counsel reasonably satisfactory to the Company that such
registration is not required.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    10.         Rights Applicable to the
Warrant Shares.  The parties hereby acknowledge and agree that
the Shares, when issued in accordance with the terms hereof, shall be entitled
to all of the same rights and privileges provided to the Company’s Common
Stock.

     

    11.         Dividends and Other
Distributions.   In the event that the Company shall, at
any time prior to the exercise of all Warrants, declare a dividend (other than a
dividend consisting solely of shares of Common Stock) or otherwise distribute to
its stockholders any assets, properties, rights, evidence of indebtedness,
securities (other than shares of Common Stock), whether issued by the Company or
by another, or any other thing of value, the Warrant Holder shall thereafter be
entitled, in addition to the shares of Common Stock or other securities and
property receivable upon the exercise thereof, to receive, upon the exercise of
such Warrant, the same assets, property, rights, evidences of indebtedness,
securities or any other thing of value that the Warrant Holder would have been
entitled to receive at the time of such dividend or distribution as if the
Warrant had been exercised immediately prior to such dividend or
distribution.  At the time of any such dividend or distribution, the
Company shall make (and maintain) appropriate reserves to ensure the timely
performance of the provisions of this Section 11.

     

    12.         Vesting.  The
Warrant shall only be exercisable in whole or in part, according to the
following vesting schedule:

    

    
      	
               
      

            	
              i)

            	
              225,000
      of the Shares are deemed vested as of the date of this
      Agreement;

            

    

    

    
      	
               
      

            	
              ii)

            	
              112,500
      of the Shares shall vest according to the passage of time, with 4,687
      Shares vesting on the last day of each calendar month for twenty-three
      (23) months, beginning with the month ending May 31, 2010 and continuing
      until the month ending March 31, 2012 and 4,699 Shares vesting on April
      30, 2012 so long as Consultant continues to provide services to the
      Company pursuant to the Consulting Agreement or any successor
      agreement.

            

    

    

    
      	
               
      

            	
              iii)

            	
              112,500
      of such Shares shall vest according to whether or not the Company meets
      certain financial targets as specified below for FY 2010 and FY 2011 as
      follows:

            

    

    

    
      	
               
      

            	
              -

            	
              28,125
      Shares will vest if the Company’s actual consolidated revenue for FY 2010,
      meets or exceeds the consolidated revenue goal established by the Board of
      Directors (the “Board”) for the
      vesting of performance options and warrants;
and

            

    

    

    
      	
               
      

            	
              -

            	
              28,125
      Shares will vest if the Company’s actual Adjusted EBITDA for FY 2010,
      meets or exceeds the consolidated Adjusted EBITDA goals established by the
      Board for the vesting of performance options and warrants;
    and

            

    

    

    
      	
               
      

            	
              -

            	
              28,125
      Shares will vest if the Company’s actual consolidated revenue for FY 2011,
      meets or exceeds the consolidated revenue goal established by the Board
      for the vesting of performance options and warrants;
  and

            

    

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    
 

    
      	
               
      

            	
              -

            	
              28,125
      Shares will vest if the Company’s actual Adjusted EBITDA for FY 2011,
      meets or exceeds the consolidated Adjusted EBITDA goals established by the
      Board for the vesting of performance options and
  warrants.

            

    

    

    Notwithstanding
the foregoing, in the event that either (i) the Company has a Change of Control
(as defined below) or (ii) the Company terminates the Consulting Agreement at
any time prior to the time when all Shares have vested pursuant to this Section
12, then all of the Shares subject to this Warrant shall immediately vest in
full.  For purposes of this Agreement, “Change of Control” means
either:

     

    
      	
               
      

            	
              (1)

            	
              the
      acquisition of the Company by another entity by means of any transaction
      or series of related transactions (including, without limitation, any
      reorganization, merger or consolidation or stock transfer, but excluding
      any such transaction effected primarily for the purpose of changing the
      domicile of the Company), unless the Company’s stockholders of record
      immediately prior to such transaction or series of related transactions
      hold, immediately after such transaction or series of related
      transactions, at least 50% of the voting power of the surviving or
      acquiring entity (provided that the sale by the Company of its securities
      for the purposes of raising additional funds shall not constitute a Change
      of Control hereunder); or

            

    

    

    
      	
               
      

            	
              (2)

            	
              a
      sale of all or substantially all of the assets of the
    Company.

            

    

    

    In the
event that the Warrant Holder resigns as an officer of the Company at any time
prior to the time when all Shares have vested pursuant to this Section 12, then
the rights under this Agreement with respect to the unvested portion of the
Shares as of the date of Termination (as such term is defined in the Consulting
Agreement) shall immediately terminate.

    

    13.         Piggy-Back
Registration.  Subject to the terms and conditions of this
Warrant, the Company shall notify the holder of Registrable Securities (as
defined below) in writing at least ten (10) days prior to the filing of any
registration statement under the Securities Act for purposes of a public
offering of securities of the Company (including, but not limited to,
registration statements relating to secondary offerings of securities of the
Company, but excluding any registration statement relating to any employee
benefit plan or with respect to any corporate reorganization or other
transaction under Rule 145 of the Securities Act ) and will afford each such
holder an opportunity to include in such registration statement all or part of
such Registrable Securities held by such holder.  Each holder of
Registrable Securities desiring to include in any such registration statement,
all of part of the Registrable Securities held by it shall, within ten (10)
days after the above-described notice from the Company, so notify the Company in
writing.  Such notice shall state the intended method of disposition
of the Registrable Securities held by such holder.  In the event the
Company determines in its sole discretion, that market factors require a
limitation of the number of securities to be included in such registration
statement (including the Registrable Securities), then the Company shall so
advise the Warrant Holder and the number of shares that may be included in such
registration statement shall be allocated among holders of warrants on a pro
rata basis (including the Registrable Securities).  If a holder
decides not to include all of its Registrable Securities in the registration
statement thereafter filed by the Company or any Registrable Securities were
excluded by the Company pursuant to the immediately preceding sentence, such
holder shall nevertheless continue to have the right to include any Registrable
Securities in any subsequent registration statement or registration statements
as may be filed by the Company with respect to offerings of its securities, all
upon the terms and conditions set forth herein.  “Registrable
Securities” means the Shares of Common Stock issuable to the Warrant
Holder pursuant to the terms of this Warrant.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    14.         Miscellaneous.

     

    14.1          Waivers and
Amendments.  This Agreement or any provisions hereof may be
changed, waived, discharged or terminated only by a statement in writing signed
by the Company and by the Warrant Holder.

     

    14.2          Governing
Law.  This Agreement shall be governed by and construed and
enforced in accordance with the laws of the State of Florida.

     

    14.3       
 Notices.  All
notices and other communications hereunder shall be in writing and shall be
deemed to have been given when delivered by hand or by facsimile transmission,
when telexed, or upon receipt when mailed by registered or certified mail
(return receipt requested), postage prepaid, to the parties at the following
addresses (or at such other address for a party as shall be specified by like
notice):

     

    (i)       
    If to Company:

     

    NeoGenomics,
Inc.

    12701
Commonwealth Drive, Suite 5

    Fort
Myers, FL 33913

     

    Phone:          
(239) 768-0600

    Attention:    
Chief Financial Officer

    Facsimile:     
(239) 768-1672

    

     

    With a
copy (which copy shall not constitute notice) to:

     

    K&L
Gates LLP

    200 South
Biscayne Boulevard, Suite 3900

    Miami,
Florida 33131

     

    Attention:      Clayton
Parker

    Phone :           (305)
539-3306

    Facsimile:       (305)
358-7095

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    (ii)          
If to Warrant Holder:

     

    Steven C.
Jones

    1740
Persimmon Drive

    Naples,
FL 34109

     

    Phone:  (239)
325-2001

    Facsimile:
(239) 325-2004

    

    14.4         Headings.  The
headings in this Agreement are for convenience of reference only, and shall not
limit or otherwise affect the terms hereof.

     

    14.5          Closing of
Books.  The Company will at no time close its transfer books
against the transfer of any Shares issued or issuable upon the exercise of the
Warrant in a manner that interferes with the timely exercise of the
Warrant.

     

    14.6         No Rights or Liabilities as
a Stockholder.  This Agreement shall not entitle the Warrant
Holder hereof to any voting rights or other rights as a stockholder of the
Company with respect to the Shares prior to the exercise of the
Warrant.  No provision of this Agreement, in the absence of
affirmative action by the Warrant Holder to purchase the Shares, and no mere
enumeration herein of the rights or privileges of the Warrant Holder, shall give
rise to any liability of such Holder for the Exercise Price or as a stockholder
of the Company, whether such liability is asserted by the Company or by
creditors of the Company.

     

    14.7          Successors.  All
the covenants and provisions of this Agreement shall be binding upon and inure
to the benefit of the parties hereto and their respective successors and
permitted assigns and transferees.

     

    14.8          Severability.  If
any provision of this Agreement shall be held to be invalid and unenforceable,
such invalidity or unenforceability shall not affect any other provision of this
Agreement.

     

    [SIGNATURE
PAGE FOLLOWS]

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    IN WITNESS WHEREOF, the undersigned
have caused this Agreement to be executed as of the date first written
above.

    

    
      	
               

            	 
      	 
      	 
	 
      	
              NEOGENOMICS,
      INC.

            	 
	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
	 
      	
              By:

            	      
              /s/
      Douglas M. VanOort

            	 
	 
      	 
      	
              Douglas
      M. VanOort

            	 
	 
      	 
      	
              Chairman
      and Chief Executive Officer

            	 
	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
	 
      	
              STEVEN
      C. JONES

            	 
	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
	 
      	      
              /s/
      Steven C. Jones

            	 
	 
      	
              Steven
      C. Jones

            	 

    

    

    

    

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    EXHIBIT
A

     

    NOTICE OF
EXERCISE

     

    (To be
signed only on exercise of Warrant)

     

    Dated:________________________

     

    To:         NeoGenomics,
Inc.

     

    The
undersigned, pursuant to the provisions set forth in the attached Warrant
Agreement, hereby irrevocably elects to:

     

    o           purchase
_____ shares of Common Stock covered by such Warrant Agreement and herewith
makes a cash payment of $_____________, representing the full purchase price for
such shares at the price per share provided for in such Warrant
Agreement.

     

    o           purchase
_____ shares of Common Stock covered by such Warrant Agreement and herewith
delivers _____ shares of Common Stock having a Market Price as of the last
trading day preceding the date hereof of $______, representing the full purchase
price for such shares at the price per shares provided for in such Warrant
Agreement.

     

    o           acquire
in a cashless exercise _____ shares of Common Stock pursuant to the terms of
Section 3.1 of such Warrant Agreement.

     

    Please
issue a certificate or certificates representing such shares of Common Stock in
the name of the undersigned or in such other name as is specified
below.

     

    Signature:___________________________

     

    Name
(print):________________________

     

    Title (if
applicable):____________________

     

    Company
(if applicable):_________________

     

    

     

    
      
        
        

      

      
        1

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