Document:

Exhibit 10.18

 

 

LEASE TERM AND SUBLEASE TERMINATION AGREEMENT

 

THIS LEASE TERM AND
SUBLEASE TERMINATION AGREEMENT ("Agreement"), effective as of July 16, 2018, is entered into by and between SWL Properties
LLC, a Missouri limited liability company ("Landlord"), Seventh Wave Laboratories LLC, a Delaware limited
liability company (herein “Sublessor”), and Cardinal Laboratories LLC, an Indiana limited liability company
(herein “Tenant”).

 

W I T N E S S E T H:

 

WHEREAS, Sublessor
and Tenant are parties to that certain Sublease dated July 2, 2018 ("Sublease") for the property and improvements located
at 19 Worthington Access Drive, Maryland Heights, MO 63043 ("Property");

 

WHEREAS, Landlord and
Tenant have entered into that certain Commercial Lease Agreement with an Effective Date of July 16, 2018 (“Lease”)
for the Property; and

 

WHEREAS, Sublessor
and Tenant wish to memorialize the termination of the Sublease, and Landlord and Tenant wish to memorialize the commencement date
and expiration date of the Original Term of the Lease.

 

NOW, THEREFORE, in
consideration of the Property as described in the Lease and the covenants set forth therein, Landlord, Sublessor, and Tenant agree
as follows:

 

1.       The
Termination Date (as defined in the Sublease) of the Sublease is July 16, 2018, effective immediately prior to the moment the Lease
became effective.

 

2.       The
Effective Date of the Lease is July 16, 2018. The Original Term of the Lease is seven (7) Lease Years commencing on July 16, 2018,
and expiring on July 31, 2025.

 

3.       This
Agreement may be executed in counterparts, each of which, when taken together, shall constitute one and the same document. 
A facsimile or electronic signature of either party shall constitute an original signature of such party for all purposes.

 

 

 

[SIGNATURES ON FOLLOWING PAGES]

 

 

 

     

     

    

 

 

IN WITNESS WHEREOF, Landlord has executed
this Agreement effective as of the day and year first above written.

 

LANDLORD:

 

SWL Properties LLC,

 

a Missouri limited liability company

 

 

 

	By: 	/s/ Kimberly L. Sagartz	 
	 	Kimberly L. Sagartz, Member	 

 

 

     

     

    

 

 

IN WITNESS WHEREOF, Sublessor has executed this Agreement effective
as of the day and year first above written.

 

SUBLESSOR:

 

Seventh Wave Laboratories LLC,

 

a Delaware limited liability company

 

 

 

 

 

	By: 	/s/ Kimberly L. Sagartz	 
	 	Kimberly L. Sagartz, Member	 

 

 

     

     

    

 

IN WITNESS WHEREOF, Tenant has executed
this Agreement effective as of the day and year first above written.

 

TENANT:

 

Cardinal Laboratories LLC,

 

an Indiana limited liability company

 

 

 

	By:	/s/ Jill C. Blumhoff	 
	Name: 	Jill C. Blumhoff	 
	Title: 	Vice PresidentExhibit 10.19

 

		EMPLOYMENT AGREEMENT	 

 

 

THIS EMPLOYMENT
AGREEMENT ("Agreement"), dated as of the 5th day of October, 2018 (the "Effective Date"),
is made and entered into by and between [Bioanalytical Systems, Inc., an Indiana corporation](the "Company"),
and John E. Sagartz, a resident of the State of South Carolina ("Employee").

 

WITNESSETH:

 

WHEREAS, the
Company is in the business of providing contract research services to the pharmaceutical and related industries and manufacturing
and distributing scientific instruments used or useful to participants in those industries and providing pharmacology, drug metabolism
and pharmacokinetics, toxicology, bioanalytical, histology, pathology and related consulting services (collectively, the "Business");
provided, however, the term "Business" shall be deemed amended to reflect any actual change in the
Business after the Effective Date but prior to the date on which Employee shall cease to be employed by the Company;

 

WHEREAS, the
Board of Directors of the Company (the "Board") and Employee have determined that it is in the best interests
of the Company to employ Employee and to retain the benefit of Employee's services, experience and loyalty, and Employee desires
to provide Employee's services and experience and devote Employee's loyalty to the Company upon the terms and subject to the conditions
set forth in this Agreement;

 

WHEREAS, Employee
has or will have substantial knowledge and experience with respect to the Company, the Business, the Company's trade secrets, the
Company's customer relationships and goodwill and other Confidential Information (as defined in Section 5.01), so as to
pose a real and significant threat to the success of the Company should Employee attempt to take any of the prohibited actions
specified herein;

 

WHEREAS, Employee's
duties and responsibilities in Employee's position as an integral member of the Company's leadership team are or will be co-extensive
with the entire actual and prospective scope of the Business; and

 

WHEREAS, Employee
recognizes and agrees that the enforceability of this Agreement and Employee's agreement to be bound by the terms and conditions
contained in this Agreement, including the restrictive covenants, are essential to the Company's success to prevent unfair competition
and the use or disclosure of Confidential Information or trade secrets;

 

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

 

AGREEMENT

 

ARTICLE I

Employment and Duties

  

Section 1.01.Employment
Duties. Throughout the Employment Term (as defined in Article II), Employee shall serve as the Chief Strategy Officer
of the Company, and shall provide strategic guidance and perform such other duties, consistent with such position, as may be
reasonably assigned to Employee from time to time by the Board or its designees and as would be reasonably expected to be performed
by a similarly situated employee in a company of similar size and position as the Company. Throughout the Employment Term, Employee
shall: (a) devote Employee’s working hours, on a full-time basis, to Employee’s duties and responsibilities for the
Company; (b) faithfully and loyally serve the Company; (c) comply in all material respects with all lawful directions and instructions
given to her by the Board or its designees; and (d) use Employee’s best efforts to promote and serve the interests of the
Company. Employee shall comply in all respects with all applicable laws, rules and regulations relating to the performance of Employee's
duties and responsibilities hereunder. Employee shall have travel assignments consistent with his position. The Company agrees
that it will not require Employee to change the location of his or her employment during the initial six (6) month period of his/her
employment.

 

    		 	 

    		EMPLOYMENT AGREEMENT	 

    

 

 

 

Section 1.02.Exclusive
Employment. Throughout the Employment Term, Employee shall not render services, directly or indirectly, to any person,
entity or organization ("Person") other than the Company without the prior written consent of the Board, which
may be withheld or granted by the Board in its sole and absolute discretion. Employee shall not engage in any activity which
would in any way interfere with the faithful and timely performance of Employee’s duties under this Agreement and, without
limiting the generality of the foregoing, shall not render services, with or without compensation, to any other Person; provided,
however, Employee may serve as a director of any not-for-profit organization (provided Employee receives no compensation
from such not-for-profit organization) or otherwise volunteer Employee’s time for charitable purposes, so long as such service
does not in any way interfere with the faithful and timely performance of Employee's duties under this Agreement.

 

ARTICLE II

Employment Term

 

Employee's employment
with the Company pursuant to this Agreement shall commence on the Effective Date and shall continue thereafter through and including
July [1], 2019, unless otherwise terminated as provided herein (the "Initial Term"). The Initial Term shall be
automatically extended on a year-to-year basis thereafter (each, a "Renewal Term"), unless Employee or the Company
gives written notice of non-renewal to the other party not less than thirty (30) days prior to the end of the Initial Term or any
Renewal Term, as applicable. Employee's employment by the Company shall be subject to termination at any time during or at the
end of the Initial Term or any Renewal Term as provided in Article IV. As used herein, "Employment Term"
shall mean the actual period of time during which Employee is employed by the Company under the terms and conditions of this Agreement.

 

ARTICLE III

Compensation and Other Benefits

  

During the Employment
Term, the Company shall pay and provide the following compensation and other benefits to Employee as full compensation for all
services rendered by Employee to the Company:

 

Section 3.01.Annual
Salary. The Company shall pay to Employee an annual salary for each calendar year during the Employment Term of $250,000
(the "Annual Salary"), and shall provide the other compensation and benefits set forth in this Article III.
The Annual Salary may be increased from time to time by the Company and shall be paid in accordance with the then-prevailing payroll
practices of the Company, less applicable taxes, payroll deductions and any other withholdings required or permitted by applicable
law. Employee’s annual salary is designed to be as equivalent as possible to that received by him/her in their former employment
with Seventh Wave Laboratories, LLC.

 

Section 3.02.Incentive
Compensation. The Employee shall be eligible for incentive compensation, payable solely at the discretion of the Company
(and as may be subject to repayment in full or in part in the event of a restatement of the Company’s financial statements
in accordance with any applicable policy, law or agreement).

 

Section 3.03.Expenses.
The Company shall pay or reimburse Employee for reasonable and necessary out-of-pocket business expenses incurred by Employee in
the performance of Employee’s duties hereunder which are consistent with such applicable guidelines as the Company may establish
from time to time. Employee shall furnish the Company with evidence of such expenses as required to comply with the reporting and
reimbursement policies as may be established by the Company from time to time.

 

    		 	 

    		EMPLOYMENT AGREEMENT	 

    

 

 

 

Section 3.04.Vacation
Leave. Employee will be subject to the Company's vacation policy as outlined in the Company's Employee Handbook, provided
however, the Employee shall take absences at such time as shall be approved by the Company's Chief Financial Officer. The Company
will also provide Employee with any accrued but unused paid time off (PTO) that he/she had earned while an employee of Seventh
Wave Laboratories, LLC and which was not otherwise already paid out to Employee by Seventh Wave Laboratories, LLC upon Employee’s
termination date.

 

Section 3.05.Other
Benefits. During the Employment Term, Employee shall be entitled to participate in all employee benefit plans which are
generally made available to employees of the Company, subject to the eligibility, qualification, waiting period and other terms
and conditions of such plans as they shall be in effect from time to time. Company agrees to provide Employee with service credit
for Employee’s former employment with Seventh Wave Laboratories, LLC for purposes of calculating eligibility to participate
and vesting credit (but not for accrual of benefits) under each applicable Employee Plan of Company or one of its Affiliates or
as required by applicable statutory law, as if such service had been performed for Company or one of its Affiliates; provided,
however, that such service credit shall not be recognized to the extent that [(i) such prior service credit is not also extended
to similarly situated employees of Company,] or (ii) it would result in a duplication of benefits for the same period of time.

 

ARTICLE IV

Termination of Employment

  

Employee's employment
with the Company shall be subject to termination by the Company or Employee as follows:

 

Section 4.01.Termination
for Cause. The Company may immediately terminate Employee's employment with the Company for Cause (as defined in Section
4.06) by giving written notice thereof to Employee. In the event that Employee engages in conduct potentially constituting
Cause, the Company reserves the right to immediately suspend Employee for a period of up to thirty (30) days, pending investigation
and the outcome of an investigation of the matter or conduct in question. Company shall continue to pay Employee’s Annual
Salary during any such suspension and/or investigation.

 

Section 4.02.Termination
Without Cause; Resignation for Good Reason. The Company may, in its sole and absolute discretion, terminate Employee's
employment with the Company without Cause, by providing written notice to Employee (the "Termination Notice")
at least thirty (30) days prior to the Termination Date.

 

Section 4.03.Resignation.
Employee may resign from Employee's employment with the Company at any time, with or without Good Reason (as defined in Section
4.07), by providing written notice to the Company (the "Resignation Notice") at least thirty (30) days prior
to the effective date of Employee's resignation (the "Resignation Date"). Employee may resign for "Good Reason"
only if, within sixty (60) days after the event or circumstance giving rise to such "Good Reason" occurs or begins, Employee
gives written notice to the Company detailing the circumstance or event. For the thirty (30) day period following the date of such
notice, the Company and Employee shall attempt to reach a resolution such that "Good Reason" no longer exists. If at
the end of such thirty (30) day period, "Good Reason" still exists, Employee may resign for Good Reason in accordance
with this Agreement, but no such resignation shall occur prior to the end of such period. If Employee does not resign at the end
of such thirty (30) day period, Employee shall be deemed to have waived any such rights with respect to such event or circumstance.

 

    		 	 

    		EMPLOYMENT AGREEMENT	 

    

 

 

 

Section 4.04.Death.
If Employee dies prior to the expiration of the Employment Term, Employee’s employment with the Company shall automatically
terminate on the date of Employee’s death.

 

Section 4.05.Disability.
If Employee becomes Permanently Disabled (as defined in Section 4.07), the Company may terminate Employee's employment with
the Company as a result of the Permanent Disability by providing written notice to Employee at least thirty (30) days prior to
the Termination Date, or Employee may resign from Employee’s employment with the Company by providing a Resignation Notice
to the Company at least thirty (30) days prior to the Resignation Date.

 

Section 4.06.Effect
of Termination. If Employee's employment with the Company is terminated

 

(a)       for
any reason other than a termination by the Company without Cause or a resignation by the Employee for Good Reason, the Employee
or her estate or personal representative (as the case may be) shall be entitled to: (i) payment of that portion of the Annual Salary
that Employee earned through and including the Termination Date or Resignation Date, as applicable, at the rate in effect on such
date or, in the case of a termination due to the Employee becoming Permanently Disabled, on the date when she became Permanently
Disabled; (ii) any accrued but not paid vacation pay, sick pay or other paid time off; and (iii) any expenses that remain unpaid
as of the Termination Date or Resignation Date, as applicable, and are required to be paid by the Company pursuant to Section
3.03.

 

(b)       by
the Company without Cause or if Employee resigns for Good Reason (as defined in Section 4.07 below), Employee shall be entitled
to: (a) payment of that portion of the Annual Salary that Employee earned through and including the Termination Date, at the rate
of the Annual Salary in effect on the Termination Date; (b) any accrued but not paid vacation pay, sick pay or other paid
time off; (c) any expenses that remain unpaid as of the Termination Date and are required to be paid by the Company pursuant to
Section 3.03; (d) provided that the Employee elects continuation of health coverage pursuant to Section 601 through 608
of the Employee Retirement Income Security Act of 1974, as amended ("COBRA"), reimbursement of an amount equal
to the Employee’s monthly COBRA premiums for a period of twelve (12) months after the Termination Date; provided further,
such payments will cease upon Employee becoming entitled for other health insurance; (e) payment of an amount equal to Annual Salary
for twelve (12) months, which shall be payable by the Company to Employee in equal bi-weekly installments over the twelve (12)
month period following the Termination Date; and (f) a pro-rated portion of the annual bonus Employee was eligible for, if any,
for the completed portion of any fiscal year in which the Termination Date occurs based on the relevant portion of the bonus that
would have been earned, if any, had the Employee remained employed through the fiscal year and payable at the time payable were
the Employee to have remained employed; provided, however, that, before receiving the payments described in clauses
(e) and (f) hereof, Employee shall execute and deliver to the Company a separation agreement, including a release of any claims
for wrongful termination or discrimination, in form and substance acceptable to the Company in its sole and absolute discretion.

 

Except as provided herein or required by
applicable law, Employee shall not be entitled to any other compensation or benefits in the event of a termination or resignation
pursuant to this Article IV. With respect to any payments to be made to Employee by the Company pursuant to this Section
4.06, such payments shall be less applicable taxes, payroll deductions and withholdings required by law.

 

    		 	 

    		EMPLOYMENT AGREEMENT	 

    

 

 

 

Section 4.07.Definitions
for this Article IV. The following terms shall have the meanings ascribed to them below:

 

(a)       "Cause"
shall mean the termination of Employee's employment with the Company for any of the following reasons:

 

(i)       Conduct
materially adversely affecting the Company which, if capable of cure as determined in the reasonable discretion of the Board, is
not cured by Employee within ten (10) business days of delivery of written notice from the Company to Employee identifying in reasonable
detail such conduct;

 

(ii)       Any
material violation or breach, by act or omission, of any obligation or responsibility of Employee under this Agreement which, if
capable of cure, is not cured by Employee within ten (10) business days of delivery of written notice from the Company to Employee
identifying in reasonable detail such violation or breach;

 

(iii)       Actual
or attempted theft, fraud, embezzlement, dishonesty, assault, battery, violent act or other similar behavior by Employee; or any
act resulting in the indictment of Employee, a felony criminal conviction, or a conviction of a crime involving moral turpitude
or a plea of guilty or no contest by Employee in relation to a charge of any crime (other than non-material or insignificant convictions
not related to the performance by Employee of Employee’s duties hereunder, such as traffic violations (other than driving
under the influence of alcohol or similar violations));

 

(iv)       Any
occurrence of Employee reporting to work under the influence of alcohol or illegal drugs, Employee being under the influence of
alcohol or illegal drugs during working hours, or Employee possessing illegal drugs, alcohol or drug paraphernalia on Company property;

 

(v)       Any
discriminatory or harassing conduct by Employee based on an individual's race, sex, religion, national origin, age, disability,
veteran status, or other characteristic protected by law or any retaliatory conduct by Employee toward an individual who complains
about such conduct in the workplace (whether by Employee or otherwise);

 

(vi)       Any
material failure to adhere to any policy of the Company, whether now in effect or hereafter adopted, or any material failure to
act in accordance with specific reasonable instructions of the Board, the Chief Executive Officer or Employee's immediate supervisor
which, if capable of cure, is not cured by Employee within ten (10) business days of delivery of written notice from the Company
to Employee identifying in reasonable detail such failure; or

 

(vii)       Any
gross neglect of duty, intentional insubordination or intentional misconduct of Employee in discharging any of her duties and responsibilities
under this Agreement.

 

(b)       Employee
shall be deemed "Permanently Disabled" when Employee is deemed permanently disabled in accordance with the disability
insurance policy of the Company in effect at the time of the onset of the illness or injury causing the disability, or, in the
event that no disability policy is then in effect, Employee shall be deemed "Permanently Disabled" when Employee
is physically unable to perform the essential functions of her employment due to illness, injury or other physical or mental incapacity,
even with a reasonable accommodation that does not impose an undue business or financial hardship on the Company.

 

    		 	 

    		EMPLOYMENT AGREEMENT	 

    

 

 

 

(c)       "Good
Reason" means:

 

(i)       any
material violation or breach, by act or omission, of any obligation or responsibility of the Company under this Agreement which,
if capable of cure, is not cured by the Company within ten (10) business days of delivery of written notice from Employee to the
Company identifying in reasonable detail such violation or breach; or

 

(ii)       if
Employee is required to relocate Employee’s permanent office at the Company more than fifty (50) miles from the current location
of the Company [St. Louis, Missouri]; or

 

(iii)       any
material diminution of Employee’s responsibilities, duties or status, which diminution is not rescinded within ten (10) days
of delivery of notice from Employee to the Company, identifying in reasonable detail such diminution and referring to this provision.

 

ARTICLE V

Confidentiality

 

For purposes of this
Article V, the term "Company" shall include, in addition to the Company, its affiliates and any of their
respective predecessors, successors and assigns.

 

Section 5.01.Confidential
Information. As used in this Agreement, "Confidential Information" means any and all confidential, proprietary
or other information, whether or not originated by Employee or the Company, which is in any way related to the past or present
Business and is either designated as confidential or not generally known by or available to the public. Confidential Information
includes, but is not limited to (whether or not reduced to a writing or designated as confidential):

 

(a)       Information
regarding any of the Company's current and potential customers, clients, vendors, leads and referral sources, including, without
limitation, customer, client, lead and referral source lists, databases, files, information relating to representatives and contacts,
Contracts (including, without limitation, the existence, contents and parties thereto), future needs, specifications or other similar
current and potential customer, client, lead and referral source information;

 

(b)       The
identity and terms of any contracts (including, without limitation, the existence and contents thereof and the parties thereto)
to which the Company is or was a party or is or was bound;

 

(c)       The
type, quantity and specifications of products and services being sold to, or purchased, leased, licensed or received by, the Company;

 

(d)       Information
received by the Company from third parties (such as vendors) under an obligation of confidentiality, restricted disclosure or restricted
use;

 

(e)       Work
product related to work or projects performed or about to be performed for the Company or for its customers or clients, including
working and/or project files;

 

(f)       Information
with respect to the Company's products, future products, services, facilities and methods, systems, trade secrets, technical know-how
and other intellectual property, including information relating to the design, research, development, engineering, architecture,
implementation and/or modification of or to any of the Company's products;

 

    		 	 

    		EMPLOYMENT AGREEMENT	 

    

  

(g)       Any
of the Company's internal personnel and financial information (including, without limitation, the revenue, costs or profits associated
with any of the Company's products), vendor and supplier names, information regarding products and services being provided to,
or purchased or leased by the Company, payroll information, purchasing and internal cost information, internal service and operational
manuals and other information of the Company, and the manner and methods of conducting the Business;

 

(h)       Marketing
and developmental plans and techniques, concepts, strategies, methods, procedures and technology price and cost data, price and
fee amounts, pricing and billing policies, quoting procedures, marketing techniques and methods of obtaining business, forecasts
and forecast assumptions and volumes and future plans and potential strategies of the Company;

 

(i)       Hardware,
software and computer programs and technology used by the Company; and

 

(j)       Any
other information relating to the Company or the Business that was obtained by Employee in connection with her employment with
the Company, whether before, on or after the Effective Date.

 

Notwithstanding anything contained herein
to the contrary, Confidential Information does not include information which: (x) is or becomes generally available to the public,
other than through any wrongful act or omission by Employee; (y) was independently developed by Employee without reference to the
Confidential Information; or (z) becomes available to Employee on a non-confidential basis from a source other than the Company,
provided it is not subject to a confidentiality agreement between the Company and a third party.

 

Section 5.02.Non-Disclosure
and Non-Use of Confidential Information. In furtherance of this Agreement, to ensure adequate protection against the wrongful
use or disclosure of the Confidential Information, and to protect the value associated with the Confidential Information, Employee
agrees that Employee shall hold all Confidential Information in strict confidence, solely for the benefit of the Company, and that,
except as necessary in the course of Employee's duties as an employee of the Company, shall not, directly or indirectly, use, disclose,
distribute, disseminate, reverse engineer or authorize any third party to use, disclose, distribute, disseminate or reverse engineer
any Confidential Information for any purpose. Employee acknowledges and agrees that any violation of the confidentiality obligations
set forth in this Section 5.02 would be extremely detrimental and prejudicial to the Company, and would result in irreparable
injury and loss to the Company. The obligations set forth in this Section 5.02, and the Company's rights and remedies with
respect thereto, shall remain in full force and effect for so long as the Confidential Information remains confidential (except
that the obligations shall continue if the Confidential Information loses its confidential nature through any act by or omission
of Employee, including any breach of this Section 5.02). Notwithstanding the foregoing, this Agreement shall not inhibit
Employee’s disclosure of Confidential Information if and as may be necessary in furtherance of legally protected whistleblowing
activity. In addition, as provided by federal law (18 U.S.C. §1833), Employee shall not be held criminally or civilly liable
under any Federal or State trade secret law for her disclosure of a trade secret that is made by her: (a) in confidence to a Federal,
State, or local government official, either directly or indirectly, or to an attorney, and solely for the purpose of reporting
or investigating a suspected violation of law or (b) in a complaint or other document filed by her in a lawsuit or other proceeding,
on the condition that such filing is made under seal. The provisions of this Section 5.02 shall be in addition to, and shall
not affect, the Employee's common law duty of fidelity to the Company.

 

    		 	 

    		EMPLOYMENT AGREEMENT	 

    

  

Section 5.03.Ownership
of Confidential Information. Employee acknowledges and agrees that all Confidential Information is and shall remain the
exclusive property of the Company, whether or not prepared in whole or in part by Employee and whether or not disclosed to or entrusted
to the custody of Employee. Upon the termination or resignation of her employment with the Company, or at any other time at the
request of the Company, Employee shall immediately deliver to the Company, or, if Company so directs, permanently destroy, all
documents, tapes, disks or other storage media and any other materials, and all copies thereof in whatever form, in the possession
of Employee pertaining to the Business, including, without limitation, any containing Confidential Information. Employee acknowledges
and agrees that she will not retain any copies, extracts or other reproductions, in whatever form, in whole or in part of such
material.

 

Section 5.04.Survival.
Employee's obligations set forth in this Article V, and the Company's rights and remedies with respect hereto, shall indefinitely
survive the termination of this Agreement and the termination of, or resignation from, Employee's employment by the Company, regardless
of the reason therefor.

 

ARTICLE VI

Restrictive Covenants

  

For purposes of this
Article VI, the term "Company" shall include, in addition to the Company, any of its affiliates (including,
without limitation, for purposes of this Agreement, the Buyer) and any of their respective predecessors, successors and assigns
for whom Employee performs any services or about which Employee has knowledge through access to any Confidential Information about
or concerning such affiliates, predecessors, successors and assigns during her employment relationship with the Company.

 

Section 6.01.Non-Competition.

 

(a)       Throughout
the Employment Term and for a period equal to the greater of the term remaining on the Asset Purchase Agreement signed on July
2, 2018 or twelve (12) months immediately following the cessation of Employee's employment with the Company for any reason (regardless
of whether Employee is terminated or resigns) (the "Restricted Period"), Employee shall not, directly or indirectly,
(i) perform for any Competitor the same or substantially similar services as those Employee performed for or on behalf of the Company
at any time during the twelve (12) months prior to the date Employee is terminated or resigned, (ii) market, offer, promote, sell,
manage or control the same or substantially similar products or services as those marketed, offered, promoted, sold, managed or
controlled by the Company during the twelve (12) months prior to the date Employee is terminated or resigned, or (iii) hold any
equity interest in a Competitor. A “Competitor” of the Company is any Person that manufactures, develops, distributes,
provides, markets and/or sells any of the same or substantially similar services or products (in terms of brand, functionality
and/or purpose) as those the Company manufactured, developed, distributed, provided, marketed and/or sold in the Business at any
time during the twelve (12) months prior to the date Employee is terminated or resigned.

 

(b)       The
market for the Business is global, or has the potential of being global, and due to the nature of the Business and the nature of
Employee's job duties and responsibilities, which job duties and responsibilities are co-extensive with the entire scope of Company's
Business, the performance of Employee's job duties and responsibilities is not tied to the physical location or presence of the
Company or to any specifically designated territory or area. As a result, the broadest geographic scope enforceable by law for
the restrictions set forth in Section 6.01(a) shall be applicable, as follows:

 

    		 	 

    		EMPLOYMENT AGREEMENT	 

    

 

 

 

(i)        everywhere
in the world that has access to the Business because of the availability of the internet;

 

(ii)       everywhere
in the world that Employee has the ability to compete with the Business through the internet;

 

(iii)      each
state, commonwealth, territory, province and other political subdivision located in North America;

 

(iv)      each
state, commonwealth, territory and other political subdivision of the United States of America;

 

(v)       Missouri
and any state, commonwealth, territory or other political subdivision in which Employee has actually performed any services for
the Company during the final twenty-four (24) months of her employment with the Company;

 

(vi)      Missouri
and any state, commonwealth, territory or other political subdivision in which the Company has performed any services or sold any
products in the two (2) year period immediately preceding the termination of Employee's employment with the Company;

 

(vii)     any
geographical area in which the Company has engaged in the Business, which has resulted in aggregate sales revenues of at least
Fifty Thousand and No/100 Dollars ($50,000.00) during any year in the two (2) year period immediately preceding the cessation of
Employee's employment with the Company;

 

(viii)    any
state or other jurisdiction where the Company had an office at any time during the final twenty-four (24) months of Employee's
employment;

 

(ix)       any
state or other jurisdiction where the Company had an office at which Employee performed any services for or on behalf of the Company
during the final twenty-four (24) months of Employee's employment;

 

(x)       within
one hundred (100) miles of any Company office or facility operated by the Company during the final twenty-four (24) months of Employee's
employment;

 

(xi)       within
one hundred (100) miles of any Company office or facility at which Employee performed any services for or on behalf of Company
during the final twenty-four (24) months of Employee's employment; and

 

(xii)       any
geographic area or territory to which Employee was specifically assigned by the Company during the final twenty-four (24) months
of Employee's employment.

 

Section 6.02.Non-Solicitation.
During the Restricted Period, Employee shall not, directly or indirectly:

 

(a)       Call
upon, solicit, accept any business of, provide any services or products to, contact or have any communication with any Person who
is or was a customer or prospective customer of the Company at any time during the final twenty-four (24) months of Employee's
employment with the Company, in any case for the purpose of (i) diverting or influencing, or attempting to divert or influence,
any business of such customer or prospective customer to any Competitor of the Company, (ii) marketing, selling, distributing,
leasing or providing any products or services in competition with the Business or the Company, or (iii) otherwise interfering in
any fashion with the operations being conducted by the Company or with any operations conducted by the Company at any time during
the Restricted Period;

 

    		 	 

    		EMPLOYMENT AGREEMENT	 

    

 

 

 

(b)       Cause,
induce or attempt to cause or induce any customer, supplier, distributor, licensee, licensor, franchisee, employee, consultant
or other Person who is a business relation of the Company at the time Employee resigns or is terminated or who was a customer,
supplier, distributor, licensee, licensor, franchisee, employee, consultant or business relation of the Company at any time during
the final twenty-four (24) months of Employee’s employment to cease doing business with the Company to do business with any
Competitor for the purpose of competing with the Company or in any way interfere with the relationship between any such customer,
supplier, distributor, licensee, licensor, franchisee, employee, consultant or business relation and the Company; or

 

(c)       Solicit
for employment, endeavor to entice away from the Company, hire or retain (or attempt to do any of the foregoing) any Person who
is or was an employee, independent contractor or other personnel of the Company at any time during the twenty-four (24) months
prior to Employee's resignation or termination or interfere in any way with the relationship between the Company and any of its
employees, independent contractors or other personnel.

 

Section 6.03.Non-Disparagement.
Employee shall not, directly or indirectly, make any negative or disparaging statement, or release any information, or encourage
others to make any statement or release any information that has the effect of embarrassing or criticizing the Company or any of
its affiliates, the services and products offered or provided in the Business, including any of the Company's or its affiliates',
as applicable, actual or prospective customers, competitors, employees or former employees, including any statements made to the
press or other media in the United States of America or in any other country. The obligations of Employee pursuant to this Section
6.03 shall indefinitely survive any termination of this Agreement.

 

Section 6.04.Public
Company Exception. The prohibitions contained in this Article VI do not prohibit Employee's ownership of stock which
is publicly traded, provided that (a) the investment is passive; (b) Employee has no other involvement with the company;
(c) Employee's interest is less than five percent (5%) of the outstanding shares of the company; and (d) Employee makes full disclosure
to the Company of the shares at the time that Employee acquires the shares and any changes in Employee's ownership of such shares.

 

ARTICLE VII

Assignment of Inventions

  

Any and all inventions,
improvements, discoveries, designs, works of authorship, concepts or ideas, or expressions thereof, whether or not subject to patents,
copyrights, trademarks or service mark protections, and whether or not reduced to practice, that are conceived or developed by
Employee while employed with the Company and which relate to or result from the actual or anticipated business, work, research
or investigation of the Company (collectively, "Inventions"), shall be the sole and exclusive property of the
Company. Employee shall do all things reasonably requested by the Company to assign to and vest in the Company the entire right,
title and interest to any such Inventions and to obtain full protection therefor.

 

ARTICLE VIII

Reasonableness; Remedies

  

Section 8.01.Reasonableness.
Employee hereby acknowledges and agrees that Employee's obligations herein and the restrictions imposed hereby (including, without
limitation, the restrictive period of time, geographic scope and scope of the restricted activity specified herein) are reasonable
and necessary in view of the nature of the Business in which the Company is, or will be, engaged and in light of Employee's duties
and responsibilities and the tasks Employee will be performing or has performed for the Company. Employee further acknowledges
and agrees that the restrictions set forth in Article V and Article VI are fair, reasonable and necessary in all
respects to protect the Company under this Agreement and to safeguard the value, goodwill and trade secrets of the Business. Employee
acknowledges and agrees that the Company would not have entered into this Agreement and the Buyer would not have entered into the
Purchase Agreement, but for Employee's agreements and obligations pursuant to Article V and Article VI. If the scope
of any stated restriction is too broad to permit enforcement of such restriction to its full extent, then the parties agree that
such restriction shall be enforced and/or modified to the maximum extent permitted by law. The parties agree that in the event
of a breach of Article VI, the Restricted Period shall be extended automatically with respect to the breaching party by
the period of the breach.

 

    		 	 

    		EMPLOYMENT AGREEMENT	 

    

 

 

 

Section 8.02.Remedies.
Employee recognizes that any breach of this Agreement may cause irreparable injury to the Company, inadequately compensable in
monetary damages. Accordingly, in addition to any other legal or equitable remedies that may be available to the Company, Employee
agrees that the Company shall be able to seek and obtain injunctive relief in the form of a temporary restraining order, preliminary
injunction and/or permanent injunction, in each case without notice or bond, against Employee to enforce this Agreement. The Company
shall not be required to demonstrate actual injury or damage to obtain injunctive relief from the courts. To the extent that any
damages are calculable resulting from the breach of this Agreement, the Company shall also be entitled to recover damages, including,
without limitation, any lost profits or incidental or consequential damages of the Company and/or its affiliates. For purposes
of this Agreement, lost profits of the Company shall be deemed to include all gross revenues resulting from any activity of Employee
in violation of this Agreement and all such revenues shall be held in trust for the benefit of the Company. Any recovery of damages
by the Company shall be in addition to and not in lieu of any injunctive relief to which the Company is entitled. In no event will
a damage recovery be considered a penalty in liquidated damages. In addition, in any action at law or in equity arising out of
a breach or threatened breach of Article V or Article VI, the Company shall be entitled to recover from Employee
all costs and expenses, including reasonable attorneys' fees, expenses and court costs, incurred by the Company in connection with
such action or proceeding. With respect to any action at law or in equity arising out of any other Article of this Agreement, the
prevailing party shall be entitled to recover, in addition to any damages caused by a breach of this Agreement, all costs and expenses,
including, without limitation, reasonable attorneys' fees, expenses and court costs incurred by such party in connection with such
action or proceeding. Without limiting the Company's rights under this Section 8.02 or any other remedies of the Company,
if a court of competent jurisdiction determines that Employee breached any of the provisions of Article V or Article
VI, the Company shall have the right to cease making any payments or providing any benefits otherwise due to Employee under
the terms and conditions of this Agreement, except as may be required by applicable law. The remedies set forth in this Section
8.02 shall be available under this Agreement for any breach of this Agreement. Employee agrees that the Company may enforce
this Agreement to the broadest extent possible.

 

ARTICLE IX

Miscellaneous

  

Section 9.01.Assignment.
Employee shall not assign, transfer or delegate this Agreement or any right, duty, obligation or interest under this Agreement
without the Company's prior written consent; provided, however, that nothing shall preclude Employee from designating
beneficiaries to receive compensation or benefits, if any, payable under this Agreement upon her death. The Company shall not assign,
transfer or delegate this Agreement or any right, duty, obligation or interest under this Agreement without Employee's prior written
consent; provided, however, that the Company may assign, delegate or transfer this Agreement and all of the Company's
rights and obligations under this Agreement, without Employee's consent, to any of its subsidiaries or to any business entity that
by merger, consolidation or otherwise acquires all or substantially all of the assets of the Company or any subsidiary or parent
or to which the Company or any subsidiary or parent transfers all or substantially all of its assets, so long as the assignee assumes
all of the obligations of the Company first arising under this Agreement on or after the effective date of the assignment. Upon
such assignment, delegation or transfer by the Company, (a) the transferee or other party to such transaction, as applicable,
shall be deemed to be substituted for the Company for all purposes of this Agreement and (b) Employee shall be deemed to have
consented to the assignment, delegation or transfer.

 

Section 9.02.Binding
Effect; Third Party Beneficiaries. This Agreement shall be binding upon and inure to the benefit of the parties, their
respective successors and permitted assigns, and Employee's heirs and the personal representative(s) or executor(s) of Employee's
estate. Except as specifically set forth herein, nothing in this Agreement is intended to confer any rights or remedies under or
by reason of this Agreement on any Person other than the parties hereto and their successors and permitted assigns.

 

    		 	 

    		EMPLOYMENT AGREEMENT	 

    

 

 

 

Section 9.03.Severability.
If a court of competent jurisdiction makes a final determination that any term or provision of this Agreement is invalid or unenforceable,
the remaining terms and provisions shall be unimpaired and the invalid or unenforceable term or provision shall be deemed replaced
by a term or provision that is valid and enforceable and that most closely approximates the intention of the parties with respect
to the invalid or unenforceable term or provision, as evidenced by the remaining valid and enforceable terms and conditions of
this Agreement.

 

Section 9.04.Amendment.
Except as amended automatically (as provided herein) or as modified by any court of competent jurisdiction, this Agreement may
not otherwise be modified or amended in any manner except by a written instrument signed by both parties to this Agreement.

 

Section 9.05.Waiver.
The waiver by either party of compliance by the other party with any provision of this Agreement at any one time must be in a writing
signed by the waiving party and shall not operate or be construed as a waiver of any other provision of this Agreement or a continuing
waiver or a waiver of any subsequent breach by a party of a provision of this Agreement. Performance by any of the parties of any
act not required of it under the terms and conditions of this Agreement shall not constitute a waiver of the limitations on its
obligations under this Agreement, and no performance shall estop that party from asserting those limitations as to any further
or future performance of its obligations.

 

Section 9.06.Governing
Law. This Agreement shall be governed by, and construed and enforced in accordance with, the internal laws of the State
of Indiana without reference to any jurisdiction's principles of conflicts of law to the contrary. Employee hereby agrees and consents
that any action initiated by Employee arising out of or addressing the enforceability of this Agreement shall be filed in the state
or federal courts located in Indianapolis, Indiana. Employee further agrees and consents to the exclusive jurisdiction of the state
or federal courts located in Indianapolis, Indiana, and waives any defense of lack of personal jurisdiction or improper venue or
forum non conveniens to a claim brought in such court, except that the Company may elect, in its sole and absolute discretion,
to litigate the action in the county or state where any breach by Employee occurred or where Employee can be found.

 

Section 9.07.Notices.
All notices, requests, demands and other communications that are required or permitted to be given pursuant to the terms of this
Agreement shall be in writing, and delivery shall be deemed sufficient in all respects and to have been duly given as follows:
(a) on the actual date of service if delivered personally; (b) at the time of receipt of confirmation by the transmitting party
if by facsimile transmission; (c) at the time of receipt if given by electronic mail to the e-mail addresses set forth in this
Section 9.07, provided that a party sending notice by electronic delivery shall bear the burden of authentication
and of proving transmittal, receipt and time of receipt; (d) on the third day after mailing if mailed by first-class mail return
receipt requested, postage prepaid and properly addressed as set forth in this Section 9.07; or (e) on the day after delivery
to a nationally recognized overnight courier service during its business hours or the Express Mail service maintained by the United
States Postal Service during its business hours, in each case, for overnight delivery against receipt, and properly addressed,
if to Employee, to the address as shall be used by the Company for payroll records purposes as on file with the Company and, if
to the Company as follows:

 

	
        Bioanalytical Systems, Inc.

        2701 Kent Avenue

        West Lafayette, Indiana 47906

        Attention: Jill Blumhoff

        E-mail: jblumhoff@basinc.com
	 

 

 

    		 	 

    		EMPLOYMENT AGREEMENT	 

    

 

Either party may change its address (physical
or electronic) or other contact information for notice by giving notice to the other party in accordance with the terms of this
Section 9.07.

 

Section 9.08.Prior
Agreements. Excepting the terms of any outstanding equity award agreements by and between Employee and the Company, this
Agreement is a complete and total integration of the understanding of the parties related to Employee's employment with the Company
and replaces and supersedes any and all prior or contemporaneous negotiations, commitments, agreements, offers, promises, writings
and discussions with respect to the subject matter of this Agreement and all prior negotiations, commitments, agreements, offers,
promises, writings and discussions will have no force or effect.

 

Section 9.09.Statutory
and Common Law Duties. The duties Employee owes to the Company under this Agreement shall be deemed to include federal
and state statutory and common law obligations of Employee and do not in any way supersede or limit any of the obligations or duties
Employee owes to the Company pursuant to any applicable law.

 

Section 9.10.Warranties.
Employee represents and warrants that (a) the execution and performance of this Agreement do not and will not violate any express
or implied obligation of Employee to any Person and (b) except as disclosed in writing by Employee to the Company, Employee is
not bound by any covenant not to compete or other restrictive covenant or obligation in favor of any former employer of Employee
or any other individual or organization.

 

Section 9.11.Joint
Drafting; Headings. This Agreement shall be deemed to have been drafted jointly by the parties, and, in the event of an
ambiguity in this Agreement, this Agreement shall not be construed against either party as a result of the drafting hereof. The
article, section and paragraph headings in this Agreement are for reference purposes only and shall not affect the meaning or interpretation
of this Agreement.

 

Section 9.12.Prospective
Employer. During the Restricted Period, Employee shall inform any prospective employer about the existence of this Agreement
before accepting employment.

 

Section 9.13.Employee
Acknowledgments. Employee acknowledges and agrees that (a) she has carefully read this entire Agreement and has been given
sufficient opportunity to discuss this Agreement with the Company before signing; (b) she has been given an adequate opportunity
to consult with her lawyer, accountant, tax advisor, spouse and other Persons she deems appropriate concerning this Agreement and
the terms and conditions hereof; (c) she has been given a copy of this Agreement; and (d) by signing, Employee accepts all of the
terms and conditions of this Agreement and understands that the Company is relying upon Employee's stated acceptance of such terms
and conditions.

 

Section 9.14.Counterparts.
This Agreement may be executed in two (2) original, facsimile or electronic counterparts, each of which will be deemed to be an
original, but both of which when taken together shall constitute one and the same document. Only one (1) counterpart signed by
the party against whom enforceability is sought must be produced to evidence the existence of this Agreement.

 

[Signatures on Following Page]

 

    		 	 

    		EMPLOYMENT AGREEMENT	 

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be executed as of the Effective Date.

 

	 	"COMPANY"
	 	 
	 	BIOANALYTICAL SYSTEMS, INC.
	 	 
	 	 
	 	 
	 	By: /s/ Jill C.
    Blumhoff
	 	 
	 	Printed: Jill C Blumhoff
	 	 
	 	Title: Chief Financial Officer
	 	 
	 	 
	 	"EMPLOYEE"
	 	 
	 	 
	 	 
	 	By:  /s/
    John E. Sagartz
	 	 
	 	Printed: John E. Sagartz, DVM, Ph.D., DACVP

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