Document:

Stock Option Agreement

 EXHIBIT 10.55 
 NEOGENOMICS, INC. 
 STOCK OPTION AGREEMENT 

(NON-QUALIFIED STOCK OPTION) 
 Pursuant to this Stock Option Agreement (the “Agreement”), NeoGenomics, Inc. a Nevada corporation (the “Company”) has granted you an option (the “Stock
Option”) to purchase a certain number of shares of common stock, $0.001 par value, of the Company (“Common Stock”), upon the terms and conditions set forth herein. 

The details of your Stock Option are as follows: 
  

			
	 Optionee (“you”):
	  	Douglas M. VanOort
		
	 Address of Optionee:
	  	 3275 Regatta Road
 Naples, FL
34103

		
	 Date of Grant:
	  	February 14, 2012

 Number of Shares Subject to the Stock Option: 800,000 

 

					
	 Exercise Price:
	  	Per Share $1.71	  	Total $1,368,000

 Vesting Schedule: The shares covered by your Stock Option (the “Shares”) shall vest
according to the schedule set forth below: 
  

					
	  	 	 Shares
	 	 
		 	200,000	 	on February 14, 2013 provided you are still employed by the Company on such date;
			
		 	200,000	 	on February 14, 2014 provided you are still employed by the Company on such date;
			
		 	200,000	 	on February 14, 2015 provided you are still employed by the Company on such date;
			
		 	200,000	 	on February 14, 2016 provided you are still employed by the Company on such date;

 Expiration Date: Unless sooner terminated in accordance with this Agreement, the Stock Option will
terminate on February 14, 2017. 

  
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 Section 1. Exercise of Stock Options. Except as otherwise provided
herein, including restrictions on the transferability of the Stock Option and special provisions relating to exercise or termination of your Stock Option following your termination of employment from the Company, certain changes in capitalization of
the Company or a merger or asset sale, the Stock Option granted pursuant to this Agreement shall be subject to exercise as follows: 
 (a) You may exercise the vested portion of your Stock Option during its term by delivering a Notice of Exercise (in a form designated by the Company) together with the exercise price to the Board,
or to such other person as the Board may designate, during regular business hours, together with such additional documents as the Company may then require. 
 (b) By exercising your Stock Option, you agree that, as a condition to any exercise of a Stock Option, the Company may require you to enter into an arrangement providing for the payment by you to
the Company of any tax withholding obligation of the Company arising by reason of the exercise of your Stock Option or the disposition of shares of Common Stock acquired upon such exercise. 

(c) By exercising your Stock Option, you agree that the Company (or a representative of the underwriter(s)) may, in
connection with any underwritten registration of the offering of any securities of the Company under the Securities Act of 1933, as amended (the “Act”), require that you not sell, dispose of, assign, encumber, transfer, make any
short sale of, grant any option for the purchase of, or enter into any hedging or similar transaction with the same economic effect as a sale, any shares of Common Stock or other securities of the Company held by you, for a period of time specified
by the underwriter(s) (not to exceed one hundred eighty (180) days) following the effective date of the applicable registration statement of the Company filed under the Act. You further agree to execute and deliver such other agreements as may
be reasonably requested by the Company and/or the underwriter(s) that are consistent with the foregoing or that are necessary to give further effect thereto. In order to enforce the foregoing covenant, the Company may impose stop-transfer
instructions with respect to your shares of Common Stock until the end of such period. 
 Section 2. Method of
Payment. Payment of the exercise price is due in full upon exercise of all or any part of the Stock Option. You may elect to make payment by one or a combination of the following methods: 

(a) Cash, check or wire transfer; 

(b) In the Board’s sole discretion at the time your Stock Option is exercised and provided that at the time of
exercise the Common Stock is publicly traded, by you delivering to the Company a properly executed Notice of Exercise together with irrevocable instructions to a broker to promptly deliver to the Company cash or a check payable and acceptable to the
Company to pay the exercise price, provided that you and the broker shall comply with such procedures and enter into such agreements of indemnity and other agreements as the Board shall prescribe as a condition of such payment procedure;

  
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 (c) Provided that at the time of exercise the Common Stock is
publicly traded, by delivery of already-owned shares of Common Stock either that you have held for the period required to avoid a charge to the Company’s reported earnings or that you did not acquire directly or indirectly from the
Company, that are owned free and clear of any liens, claims, encumbrances or security interests, and that are valued at Fair Market Value on the date of exercise. For the purposes of this Agreement, “Delivery,” in the sole
discretion of the Board at the time you exercise your Stock Option, shall include delivery to the Company of your attestation of ownership of such shares free and clear of all liens or encumbrances of Common Stock in a form approved by the Board.
Notwithstanding the foregoing, you may not exercise your Stock Option by tender to the Company of Common Stock to the extent such tender would violate the provisions of any law, regulation or agreement restricting the redemption of the
Company’s shares of Common Stock. For the purposes of this Agreement, “Fair Market Value” of the Common Stock means: (i) if the Common Stock is listed on a national securities exchange or traded on the over the counter
market and sales prices are regularly reported for the Common Stock, the closing or last price of the Common Stock on the Composite Tape or other comparable reporting system for the applicable date, or if the applicable date is not a trading day,
the trading day immediately preceding the applicable date; (ii) if the Common Stock is not traded on a national securities exchange but is traded on the over the counter market, if sales prices are not regularly reported for the Common Stock
for the day referred to in clause (i), and if bid and asked prices for the Common Stock are regularly reported, the mean between the bid and the asked price for the Common Stock at the close of trading in the over-the-counter market for the
applicable date, or if the applicable date is not a trading day, the trading day on which Common Stock was traded immediately preceding the applicable date; and (iii) if the Common Stock is neither listed on a national securities exchange nor
traded in the over the counter market, such value as the Board, in good faith, shall determine (but in any event not less than fair market value within the meaning of Section 409A of the Code, and any regulations and other guidance thereunder);
or 
 (d) Any other method of payment or consideration that is approved by the Board in its sole
discretion. 
 Section 3. Whole Shares. You may exercise your Stock Option only for whole shares of Common
Stock. 
 Section 4. Term of Stock Option. 

4.1 Commencement. The term of your Stock Option commences on the Date of Grant. 

4.2 Expiration. Except as otherwise provided in Section 13 herein, the term of your Stock Option expires upon the
earliest of the following: 
 (a) immediately upon the termination of your service with the Company,
whether as an employee, officer, director, adviser or consultant, for Cause as such term is defined in your Amended and Restated Employment Agreement, dated October 28, 2009 (hereafter, the “Employment Agreement”); 

  
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 (b) ninety (90) days after the termination of your services with
the Company for any reason other than Cause, provided that if during any part of such 90-day period your Stock Option is not exercisable solely because of the condition set forth in Section 5 below relating to “Securities Law
Compliance,” your Stock Option shall not expire until the earlier of the Expiration Date or until it shall have been exercisable for an aggregate period of three months after the termination of your service with the Company; or 

(c) the Expiration Date. 
 Section 5. Securities Law Compliance. Notwithstanding anything to the contrary contained herein, you may not exercise your Stock Option unless the shares of Common Stock issuable upon
such exercise are then registered under the Act or, if such shares of Common Stock are not then so registered, the Company has determined that such exercise and issuance would be exempt from the registration requirements of the Act. The Company may
request a legal opinion of your counsel, reasonably satisfactory to the Company, with respect to such exemption. The exercise of your Stock Option must also comply with other applicable laws and regulations governing your Stock Option, and you may
not exercise your Stock Option if the Company determines that such exercise would not be in material compliance with such laws and regulations or would result in liability under Section 16 of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”). 
 Section 6. Change of Control. Notwithstanding the vesting provisions in
this Agreement, in the event of a Change of Control (as defined below) following the Date of Grant in which the consideration payable to each common stockholder of the Company in connection with such Change of Control has a Deemed Value (as defined
below) of at least $4.00 per share (as adjusted pursuant to any of the Capitalization Adjustments described in Section 13 hereof), then any remaining unvested Shares at the time of such Change of Control shall immediately vest in full.

 For purposes of this Agreement, “Change of Control” means the occurrence of any of the following events:
(i) any “person” or “group” (as defined in Section 13(d) and 14(d) of the Exchange Act) together with their affiliates become the ultimate “beneficial owner” (as defined in Rule 13d-3 of the Exchange Act) of
voting stock of the Company representing more than fifty percent (50%) of the voting power of the total voting stock of the Company; (ii) the consummation of a merger or consolidation of the Company with any other corporation or entity
regardless of which entity is the survivor, other than a merger or a consolidation which would result in the voting stock of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or being
converted into voting securities of the surviving entity or the parent thereof) at least fifty percent (50%) of the combined voting power of the voting securities of the Company or such surviving entity or the parent thereof, outstanding
immediately after such merger or consolidation; or (iii) the stockholders of the Company approve a plan of complete liquidation or winding up of the Company or an agreement for the sale or disposition by the Company of all or substantially all
of the Company’s assets. 

  
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 For purposes of this Agreement, “Deemed Value” shall mean the value of
consideration payable to each common stockholder of the Company in connection with a Change of Control as determined in good faith by the Board of Directors of the Company. 
 Section 7. Confidentiality, Non-Solicitation and Non-Competition. In connection with and in consideration for the grant of this Stock Option to you and the Company and the
Company’s continued employment of you pursuant to the Employment Agreement, you agree that you will continue to abide by the provisions of that certain Confidentiality, Non-Solicitation and Non-Compete Agreement, dated March 16, 2009 and
as amended from time to time (the “Non-Compete Agreement”), that you previously executed, and such Non-Compete Agreement is incorporated into this Agreement by reference, and you hereby acknowledge your obligations thereunder. You
further agree that if you violate any provision of the Non-Compete Agreement, you shall immediately forfeit any rights and benefits under your Stock Option and this Agreement; provided, however, that any inadvertent violations of the provisions set
forth in the Non-Compete Agreement that have not had or are not expected to have a material impact on the Company shall not result in the forfeiture of your rights and benefits under your Stock Option, so long as you notify the Company upon becoming
aware of such inadvertent violations and agree to rectify and/or cease such activities immediately. Nothing in this Section 7 will be deemed to limit, in any way, the remedies at law or in equity of the Company for a breach by you of any of the
provisions of this Section 7. 
 Section 8. No Right to Continue Employment or Service. Nothing in this
Agreement or your Notice of Exercise shall confer upon you any right to continue to serve the Company in the capacity in effect at the time the Stock Option was granted or shall affect the right of the Company to terminate your employment or other
service with the Company. 
 Section 9. Withholding of Taxes. 

(a) At the time you exercise your Stock Option, in whole or in part, or at any time thereafter as requested by the
Company, you hereby authorize withholding from payroll and any other amounts payable to you, and otherwise agree to make adequate provision for (including by means of a “cashless exercise” pursuant to a Company-developed program, to the
extent permitted by the Company), any sums required to satisfy the federal, state, local and foreign tax withholding obligations of the Company, if any, which arise in connection with your Stock Option. 

(b) Upon your request and subject to approval by the Company, in its sole discretion, and compliance with any
applicable conditions or restrictions of law, the Company may withhold from fully vested shares of Common Stock otherwise issuable to you upon the exercise of your Stock Option a number of whole shares of Common Stock having a Fair Market Value,
determined by the Company as of the date of exercise, not in excess of the minimum amount of tax required to be withheld by law. 
 (c) You may not exercise your Stock Option unless the tax withholding obligations of the Company are satisfied. 

  
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 Section 10. Non-Assignability. Your Stock Option is not transferable,
except by will or by the laws of descent and distribution, and is exercisable during your life only by you. Notwithstanding the foregoing, by delivering written notice to the Company, in a form satisfactory to the Company, you may designate a third
party who, in the event of your death, shall thereafter be entitled to exercise your Stock Option subject to the restrictions in Section 4.2(b) hereof. 
 Notwithstanding the foregoing, with the approval of the Board, you may transfer your Stock Option for no consideration to or for the benefit of your Immediate Family (including, without limitation, to a
trust for the benefit of your Immediate Family or to a partnership or limited liability company for one or more members of your Immediate Family), subject to such limits as the Board may establish, and the transferee shall remain subject to all the
terms and conditions applicable to your Stock Option prior to such transfer. The term “Immediate Family” shall mean your spouse, parents, children, stepchildren, adoptive relationships, sisters, brothers and grandchildren (and, for this
purpose, shall also include you). 
 At your request and subject to the approval of the Board, Common Stock purchased upon
exercise of your Stock Option may be issued or transferred into your name and the name of your spouse jointly with rights of survivorship. 
 Section 11. Notice. For purposes of this Agreement, notices and all other communications provided for in this Agreement shall be in writing and shall be deemed to have been duly given
(a) one business day following confirmed facsimile transmission, (b) three business days after being delivered or mailed by United States registered mail, return receipt requested, postage prepaid, or (c) one business day after being
sent via overnight delivery service, as follows: 
 If to the Company: 

NeoGenomics, Inc. 

12701 Commonwealth Drive, Suite 9 
 Fort Myers, FL 33913 
 Attn: Chief Financial Officer 

Facsimile No.: (239) 768-0711 
 and, if to you, to the address shown on this Agreement, or to such other address as either party may have furnished to the other in writing in accordance herewith, except that notices of change of address
shall be effective only upon receipt. 
 Section 12. Governing Law. This Agreement shall be construed in
accordance with the laws of the State of Nevada. 

  
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 Section 13. Capitalization Adjustments. In the event of any change in the
outstanding shares of Common Stock, without the receipt of consideration by the Company, by reason of a stock dividend, stock split, reverse stock split or distribution, recapitalization, merger, reorganization, reclassification, consolidation,
split-up, spin-off, combination of shares, exchange of shares or other change in corporate structure affecting the Common Stock and not involving the receipt of consideration by the Company, this Agreement shall be modified to make appropriate and
equitable adjustments in the number of shares available and the exercise price of any unexercised portion of the Stock Option and such other adjustments as may be appropriate under the circumstances; provided, that the number of shares subject to
the Stock Option always shall be a whole number; provided, further, that the Board’s good faith determination of “appropriate” and “equitable” adjustments shall be conclusive and binding on you. 

Section 14. Merger or Asset Sale. Upon the effectiveness of (i) a merger, reorganization or consolidation
between the Company and another person or entity (other than a holding company or a Company subsidiary or parent company) as a result of which the holders of the Company’s outstanding voting stock immediately prior to the transaction hold less
than a majority of the outstanding voting stock of the surviving entity immediately after the transaction, or (ii) the sale of all or substantially all of the assets of the Company to an unrelated person or entity (in each case, a
“Transaction”), unless provision is made in connection with, and by the parties subject to, the Transaction for (x) the assumption of the Stock Option, or (y) the substitution of the Stock Option with a new Stock Option of
the successor entity or parent thereof, with appropriate and equitable adjustment as to the number and kind of shares and, if appropriate, the per share exercise price, or (z) the equitable settlement of the Stock Option in cash or a cash
equivalent (i.e., “cash out” provision), this Agreement and the Stock Option shall terminate. In the event of such termination, and to the extent applicable, you shall be permitted to exercise prior to the anticipated effective date of the
Transaction any unexercised portion the Stock Option held by you which is then vested and exercisable; provided, however, that you may, but will not be required to, condition such exercise upon the effectiveness of the Transaction. 

Section 15. Successors. This Agreement is binding on and will inure to the benefit of any successor to the
Company, whether by way of merger, consolidation, purchase, or otherwise. 
 Section 16. Modifications. You
and the Company agree that this Agreement may be amended at any time or times, in whole or in part, only in writing, signed by you and the Company. 

  
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 Section 17. Representations of Optionee; Legends. As a condition
to your receipt of shares upon exercise of your Stock Option, the Company may require you to represent that such shares are being acquired for investment, and not with a view to the sale or distribution thereof, except in compliance with the Act,
and to make such other representations as are deemed necessary or appropriate by the Company and its counsel. Stock certificates evidencing shares acquired pursuant to an unregistered transaction to which the Act applies shall bear a restrictive
legend substantially in the following form and such other restrictive legends as are required or deemed advisable under this Agreement or the provisions of any applicable law: 
 “THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1993, AS AMENDED (THE “ACT”), OR QUALIFIED UNDER THE SECURITIES LAWS OF ANY STATE. THESE
SHARES HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO OR FOR SALE IN CONNECTION WITH ANY DISTRIBUTION THEREOF, AND MAY NOT BE SOLD, MORTGAGED, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION UNDER THE ACT
AND QUALIFICATION UNDER ANY APPLICABLE STATE SECURITIES LAWS, OR WITHOUT AN OPINION OF COUNSEL ACCEPTABLE TO THE COMPANY AND ITS COUNSEL THAT SUCH REGISTRATION OR QUALIFICATION IS NOT REQUIRED.” 

Any determination by the Company and its counsel in connection with any of the matters set forth in this Section 17 shall be
conclusive and binding on you. 
 Section 18. Certain Acknowledgements. 

You acknowledge that this Stock Option is being granted to you by action of the Board of Directors of the Company and that it is not
being awarded pursuant to the Company’s Amended and Restated Equity Incentive Plan, dated March 3, 2009. 
 By signing
below, you acknowledge that this Agreement sets forth the entire understanding between you and the Company regarding the Stock Option and the acquisition of Common Stock pursuant to the exercise thereof and supersedes all prior oral and written
agreements on that subject. 
  

									
	NeoGenomics, Inc.	 		 	Optionee:
				
	By:	 	/s/ William J. Robison	 		 	/s/ Douglas M. VanOort
	Name:	 	William J. Robison	 		 	Douglas M. VanOort
	Title:	 	Chairman, Compensation Committee	 		 		 	
	Date:	 	2/14/2012	 		 	Date:	 	2/14/2012

  
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 Exhibit 10.49 
 THIRD AMENDMENT TO 
 AMENDED AND RESTATED CREDIT AGREEMENT

 THIS THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”),
dated as of November 23, 2011, is made by and among KMG CHEMICALS, INC., a Texas corporation, KMG-BERNUTH, INC., a Delaware corporation, and KMG ELECTRONIC CHEMICALS, INC., a Texas corporation (collectively, and as further
defined in the Credit Agreement, the “Borrowers”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, successor by merger to Wachovia Bank, N.A., as Agent and Collateral Agent as defined in the Credit
Agreement (hereinafter defined), those lenders executing this Amendment as Lenders, and such other lenders (collectively, and as further defined in the Credit Agreement, the “Lenders”) as may become a party to the Credit Agreement.

 R E C I T A L S: 

A. Borrowers, Agent, Collateral Agent and Lenders have entered into that certain Amended and Restated Credit Agreement
dated as of December 31, 2007 (as heretofore amended, collectively, the “Credit Agreement”). 
 B. The Term Loan and the Term Notes have been paid in full. Borrowers have requested that Agent, Collateral Agent and Lenders (i) terminate the Term Loan Commitment, (ii) increase the amount of
the Revolving Loan (as defined in the Credit Agreement) from $50,000,000.00 to $60,000,000.00, (iii) make Revolving Loan advances without reference to the Borrowing Base, and (iv) modify certain terms of the Credit Agreement, and Lenders
have agreed to the same upon the terms and conditions set forth in this Amendment. 
 C. The Prudential
Insurance Company of America and PRUCO Life Insurance Company have proposed to sell their interests in the Revolving Loan to Wells Fargo Bank, National Association, as a Lender, which has agreed to purchase such interests. 

NOW, THEREFORE, in consideration of the premises herein contained and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 ARTICLE I 

DEFINITIONS 
 Section 1.01 Definitions Above. As used herein, the terms “Amendment,” “Borrowers,” “Credit Agreement” and “Lenders” shall have
the meanings as set forth above. 
 Section 1.02 Definitions in Agreement. Capitalized terms used in this
Amendment, to the extent not otherwise defined herein, shall have the same meanings as set forth in the Credit Agreement; without limiting the foregoing, the following terms are defined in the Credit Agreement: “Agent,”
“Borrowing Base,” “Collateral Agent,” “Collateral Report,” “Credit Agreement Obligations,” “Eligible Assignee,” “Intercreditor Agreement,”
“KMG-Bernuth,” “KMG ECI,” “Loan Documents,” “Prudential Term Note,” “Revolving Loan,” “Term Loan Commitment,” “Term Loans,” and
“Term Notes”. 

 Section 1.03 Additional Definitions. As used herein, the following
terms shall have the meanings set forth below: 
 “Assigning Lenders” means The
Prudential Insurance Company of America and PRUCO Life Insurance Company. 
 “Acquiring
Lender” means Wells Fargo Bank, National Association, as a Lender. 
 ARTICLE II 

AMENDMENTS TO AGREEMENT 
 Section 2.01 Defined Terms. Section 1.2 of the Credit Agreement is hereby amended as follows: 

(a) The term “Consolidated Current Assets” is inserted to read in full as follows:

 “Consolidated Current Assets” means, at any time, the consolidated current
assets of the Borrower Consolidated Group, as determined in accordance with Generally Accepted Accounting Principles. 
 (b) The term “Consolidated Current Liabilities” is inserted to read in full as follows: 

“Consolidated Current Liabilities” means, at any time, the consolidated current
liabilities of the Borrower Consolidated Group, as determined in accordance with Generally Accepted Accounting Principles. 
 (c) The term “Revolving Loan Commitment” is amended to read in full as follows: 
 “Revolving Loan Commitment” means Sixty Million and 00/100 Dollars ($60,000,000.00). 

(d) The term “Revolving Loan Maturity Date” is amended to read in full as follows:

 “Revolving Loan Maturity Date” means December 31, 2016. 

(e) The term “Revolving Notes” is amended to read in full as follows: 

“Revolving Notes” means (a) the following promissory notes, each executed by the
Borrowers: (i) Revolving Note dated November 23, 2011 in the face amount of $45,000,000.00 payable to the order of Wells Fargo Bank, National Association, and (ii) Revolving Note dated March 18, 2010 in the face amount of
$15,000,000.00 payable to the order of Bank of America, N.A.; and (b) any amendment to or modification of any such promissory note and any promissory note given in extension or renewal of, or in substitution for, such promissory note.

  
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 Section 2.02 Borrowing Base; Collateral Report. The Borrowing Base
will no longer be used in determining the amount of the Revolving Loan. Therefore: 
 (a)
Section 7.2(J) is hereby restated to read in full as follows: 
 (J) There shall
have been delivered to Agent the Compliance Certificates as required under this Agreement and reflecting compliance with the terms of this Agreement. 

(b) Section 10.1(C)(5) is hereby deleted. 

(c) Exhibit B to the Credit Agreement is hereby deleted. 

Section 2.03 Term Loan Commitment. The Term Loan Commitment is hereby terminated. No further Term Loan Advances
shall be made. 
 Section 2.04 Lenders’ Credit Percentages. Exhibit D to the Credit Agreement
is hereby amended by substituting Exhibit D attached hereto for Exhibit D attached to the Credit Agreement. 
 Section 2.05 Financial Covenants. Section 10.3 of the Credit Agreement is hereby amended by restating Subsection 10.3 (A)(2) to read in full as follows: 

(2) A ratio of Consolidated Current Assets to Consolidated Current Liabilities of not less that 1.5 to
1.0. For purposes of this covenant, Consolidated Current Liabilities shall exclude any payment required to be made on the final maturity date of the Prudential Term Note. 

Section 2.06 Maintaining Bank Accounts. Section 10.14(A) of the Credit Agreement is hereby amended to
read in full as follows: 
 (A) Borrowers shall maintain all of their principal bank accounts
(collectively, the “Bank Accounts”), including any Deposit Accounts and disbursement accounts, with Wells Fargo Bank, National Association (the “Approved Bank Accounts”). 

  
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 ARTICLE III 
 CONDITIONS PRECEDENT 
 The effectiveness of this Agreement
is conditioned upon the satisfaction of the following further conditions which must be satisfied as of the date of this Amendment: 
 Section 3.01 Representations and Warranties True and Correct. The representations and warranties contained herein and in all other Loan Documents, as amended hereby and by the other documents given
in connection with this Amendment, shall be true and correct as of the date hereof except as previously disclosed to Lender. 
 Section 3.02 No Default. No Default or Event of Default shall exist. 
 Section 3.03 Borrower Documents. Borrowers shall have executed and delivered to Agent, for the benefit of the Lenders, the following documents, in form and substance satisfactory to Agent in its
sole discretion; each of such documents shall be a Loan Document: 
 (a) this Agreement;

 (b) Revolving Note payable to Wells Fargo Bank, National Association in the face amount of
$45,000,000.00; 
 (c) First Amendment to Deed of Trust, Assignment of Rents, Security Agreement
and Financing Statement relating to real property owned by KMG ECI in Hollister, California; 

(d) Second Amendment to Deed of Trust and Security Agreement relating to real property owned by KMG ECI
in Pueblo County, Colorado; 
 (e) Second Amendment to Mortgage and Security Agreement relating
to real property owned by, KMG-Bernuth in Doniphan County, Kansas; 
 (f) CLTA Form 110.6
Endorsement to the Loan Policy of Title Insurance relating to real property owned by KMG ECI in Hollister, California; 
 (g) ALTA Form 11 Endorsement to the Loan Policy of Title Insurance relating to real property owned by KMG ECI in Pueblo County, Colorado; 

(h) ALTA Form 11 Endorsement to the Loan Policy of Title Insurance relating to real property owned by,
KMG-Bernuth in Doniphan County, Kansas; and 
 (i) Closing Certificates for each Borrower.

 Section 3.04 Opinion of Counsel. Borrower’s outside legal counsel shall have delivered to Agent a
legal opinion in form and substance satisfactory to Agent in its sole discretion. 

  
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 Section 3.05 Execution of Revolving Loan Sale Documents. Assigning
Lenders and Acquiring Lender shall have executed and delivered to each other Assignment and Acceptance Agreements, the original Revolving Notes for the Assigning Lenders endorsed to Acquiring Lender and marked by Acquiring Lender as “Renewed
and Extended”, and such other documents as Assigning Lenders and Acquiring Lender shall agree are useful or necessary for the sale of Assigning Lenders’ portion of the Revolving Loan to Acquiring Lender, all in form and substance as
mutually agreed upon by Assigning Lenders and Acquiring Lender. 
 Section 3.06 Amendment to Intercreditor
Agreement. The parties to the Intercreditor Agreement shall have executed and delivered to Agent and Collateral Agent an amendment to the Intercreditor Agreement, in form and substance satisfactory to Agent in its sole discretion; such document
shall be a Loan Document. 
 Section 3.07 Amendment to Note Purchase Agreement. Borrowers and the
Purchasers (as defined in the Note Purchase Agreement dated December 31, 2007 as more particularly described in the Intercreditor Agreement) shall have executed and delivered among themselves an amendment to the Note Purchase Agreement,
granting such waivers and consents as may be required to permit the Transaction. 
 ARTICLE IV 

RATIFICATIONS, REPRESENTATIONS AND WARRANTIES 

Section 4.01 Renewal and Extension of Revolving Notes. To the extent of $35,000,000.00, the Revolving Note of even
date herewith in favor of Wells Fargo Bank, National Association is given in renewal and extension, and not in extinguishment or novation, of the following Revolving Notes, each executed by Borrowers: (i) dated March 18, 2010, payable to
the order of Wachovia Bank, N.A., in the face amount of $30,000,000.00, (ii) dated December 31, 2007, payable to the order of The Prudential Insurance Company of America, in the face amount of $2,500,000.00, and (iii) dated
December 31, 2007, payable to the order of PRUCO Life Insurance Company, in the face amount of $2,500,000.00; the Liens securing said Revolving Notes are hereby renewed and extended to secure the Credit Agreement Obligations, and said Liens are
hereby ratified and confirmed in every respect by Borrowers and shall continue in full force and effect. 

Section 4.02 Ratifications. The terms and provisions set forth in this Amendment shall modify and supersede all
inconsistent terms and provisions set forth in the Credit Agreement and except as expressly modified and superseded by this Amendment, the terms and provisions of the Credit Agreement are ratified and confirmed and shall continue in full force and
effect. Borrowers and Lenders agree that the Credit Agreement as amended hereby shall continue to be legal, valid, binding and enforceable in accordance with its terms. The terms, provisions, and conditions of any and all of the Loan Documents are
hereby ratified and confirmed in every respect by Borrowers and shall continue in full force and effect. 

  
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 Section 4.03 Representations and Warranties. Borrowers hereby
represent and warrant to Lenders that: 
 (a) the execution, delivery and performance of this
Amendment and any and all other Loan Documents executed and/or delivered in connection herewith have been authorized by all requisite corporate action on the part of Borrowers and will not violate the articles of incorporation or bylaws of
Borrowers; 
 (b) after giving effect to the modifications contained in this Amendment, and any
other Loan Document, the representations and warranties contained in the Credit Agreement are true and correct in all material respects on and as of the date hereof except as previously disclosed to Lenders; 

(c) after giving effect to the modifications contained in this Amendment, no Default or Event of Default
has occurred and is continuing and no event or condition has occurred that with the giving of notice or lapse of time or both would be a Default or an Event of Default; 

(d) after giving effect to the modifications contained in this Amendment, Borrowers are in full
compliance with all covenants and agreements contained in the Credit Agreement as amended hereby; and 
 (e) Borrowers are not presently aware of any claim they have against Lenders, nor are they aware of any claim any of their respective Subsidiaries have against Lenders, for damages arising out of any
prior action or inaction on the part of Lenders or their representatives or agents. 
 ARTICLE V 

ASSIGNMENT OF PRUDENTIAL AND PRUCO 
 PORTIONS OF REVOLVING LOAN 
 Section 5.01 Assignment of
Portions of Revolving Loan. Contemporaneously with the execution and delivery of this Agreement, the Assigning Lenders are assigning their portion of the Revolving Loan to the Acquiring Lender, which is an Eligible Assignee, and endorsing their
Revolving Notes to the Acquiring Lender. 
 ARTICLE VI 
 MISCELLANEOUS 
 Section 6.01 Survival of Representations
and Warranties. All representations and warranties made in this Amendment or any other Loan Document including any Loan Document furnished in connection with this Amendment shall survive the execution and delivery of this Amendment and the other
Loan Documents executed in connection with this Amendment. 

  
 6 

 Section 6.02 Reference to Agreement. Each of the Loan Documents,
including the Credit Agreement and any and all other agreements, documents, or instruments now or hereafter executed and delivered pursuant to the terms hereof or pursuant to the terms of the Credit Agreement as amended hereby, are hereby amended so
that any reference in such Loan Documents to the Credit Agreement shall mean a reference to the Credit Agreement as amended hereby. 
 Section 6.03 Expenses of Lender. As provided in the Credit Agreement, Borrowers agree to pay on demand all reasonable costs and expenses incurred by Lenders in connection with the preparation,
negotiation, and execution of this Amendment and the other Loan Documents executed pursuant hereto and any and all amendments, modifications, and supplements thereto, including without limitation the reasonable costs and fees of Lenders’ legal
counsel, and all reasonable costs and expenses incurred by Lenders in connection with the enforcement or preservation of any rights under the Credit Agreement as amended hereby, or any other Loan Document, including without limitation the reasonable
costs and fees of Agent’s legal counsel. 
 Section 6.04 Severability. Any provision of this
Amendment held by a court of competent jurisdiction to be invalid or unenforceable shall not impair or invalidate the remainder of this Amendment and the effect thereof shall be confined to the provision so held to be invalid or unenforceable.

 Section 6.05 APPLICABLE LAW. THIS AMENDMENT IS ENTERED INTO AND PERFORMABLE IN HARRIS COUNTY, TEXAS,
AND THE SUBSTANTIVE LAWS, WITHOUT GIVING EFFECT TO PRINCIPLES OF CONFLICT OF LAWS, OF THE UNITED STATES AND THE STATE OF TEXAS SHALL GOVERN THE CONSTRUCTION OF THIS AGREEMENT AND THE DOCUMENTS EXECUTED AND DELIVERED PURSUANT HERETO, AND THE RIGHTS
AND REMEDIES OF THE PARTIES HERETO AND THERETO. 
 Section 6.06 Successors and Assigns. This Amendment is
binding upon and shall inure to the benefit of Lenders and Borrowers and their respective successors and assigns, except Borrowers may not assign or transfer any of their rights or obligations hereunder without the prior written consent of
Lenders. 
 Section 6.07 Counterparts. This Amendment may be executed in one or more counterparts,
each of which when so executed shall be deemed to be an original, but all of which when taken together shall constitute one and the same instrument. 
 Section 6.08 Effect of Waiver. No consent or waiver, express or implied, by Lenders to or for any breach of or deviation from any covenant, condition or duty by Borrowers shall be deemed a consent
or waiver to or of any other breach of the same or any other covenant, condition or duty. 
 Section 6.09
Headings. The headings, captions, and arrangements used in this Amendment are for convenience only and shall not affect the interpretation of this Amendment. 

  
 7 

 Section 6.10 SECTION 26.02 NOTICE. THE CREDIT AGREEMENT, AS AMENDED
BY THIS AMENDMENT, AND ALL OTHER INSTRUMENTS, DOCUMENTS AND AGREEMENTS EXECUTED AND DELIVERED IN CONNECTION WITH THE CREDIT AGREEMENT AND THIS AMENDMENT EMBODY THE FINAL, ENTIRE AGREEMENT AMONG THE PARTIES HERETO AND SUPERSEDE ANY AND ALL PRIOR
COMMITMENTS, AGREEMENTS, REPRESENTATIONS AND UNDERSTANDINGS, WHETHER WRITTEN OR ORAL, RELATING TO THE CREDIT AGREEMENT AND THIS AMENDMENT, AND MAY NOT BE CONTRADICTED OR VARIED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS
OR DISCUSSIONS OF THE PARTIES HERETO. 
 THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES HERETO. 

EXECUTED as of the date first written above. 
 [Remainder of page is blank. Signatures appear on following pages.] 

  
 8 

 SIGNATURE PAGES – BORROWERS 

 

			
	KMG CHEMICALS, INC.
		
	By:	 	/s/ J. Neal Butler
		 	J. Neal Butler
		 	President and Chief Executive Officer

  

			
	KMG-BERNUTH, INC.
		
	By:	 	/s/ J. Neal Butler
		 	J. Neal Butler
		 	President and Chief Executive Officer

  

			
	KMG ELECTRONIC CHEMICALS, INC.
		
	By:	 	/s/ J. Neal Butler
		 	J. Neal Butler
		 	President and Chief Executive Officer

  
 9 

 SIGNATURE PAGE – WELLS FARGO 

 

			
	 WELLS FARGO BANK,
 NATIONAL ASSOCIATION
 as Agent, Collateral Agent,

Lender and Issuing Lender

		
	By:	 	/s/ John L. Kallina
		 	 John L. Kallina
 Senior Vice
President

 Instructions for Wire Transfers to Agent: 

Wells Fargo Bank, National Association 
 Charlotte, NC 
 ABA Number: 053 000 219 

Account Number: 01459670001944 
 Account Name: Agency Svcs Synd Clearing 
 Payment Details: KMG Chemicals

  
 10 

 SIGNATURE PAGE – BANK OF AMERICA 

 

			
	 BANK OF AMERICA, N.A.,
 as a Lender

		
	By:	 	/s/ Shawyna Jarrett
	Name:	 	Shawyna Jarrett
	Title:	 	Vice President

  

  
 11 

 SIGNATURE PAGE – THE PRUDENTIAL INSURANCE COMPANY OF AMERICA 

 

			
	 THE PRUDENTIAL INSURANCE
 COMPANY OF AMERICA,
 as a Lender

		
	By:	 	/s/ Brian N. Thomas
	Name:	 	Brian N. Thomas
	Title:	 	Vice President

  
 12 

 SIGNATURE PAGE – PRUCO LIFE INSURANCE COMPANY 

 

			
	 PRUCO LIFE INSURANCE COMPANY,
 as a Lender

		
	By:	 	/s/ Brian N. Thomas
	Name:	 	Brian N. Thomas
	Title:	 	Assistant Vice President

  
 13 

 EXHIBIT D 

LENDERS’ CREDIT PERCENTAGES 
 Percentages have been rounded up/down to next whole percentage 
  

				September 30,	
	 Lender
	    	Revolving Loan Commitment
and
Revolving Loan Credit
Percentage	 
	 Wells Fargo Bank, N.A.
	    	$
  
	45,000,000
 75
	  
 % 

	 Bank of America, N.A.
	    	$
  
	15,000,000
 25
	  
 % 

	 The Prudential Insurance Company of America
	    	$
  
	0.00
 0
	  
 % 

	 Pruco Life Insurance Company
	    	$
  
	0.00
 0
	  
 % 

	 Total
	    	$
  
	60,000,000
 100
	  
 %

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