Document:

Credit Agreement

 Exhibit 10.12 

 

 

 Execution Copy 

Credit Agreement 

This agreement dated as of May 20, 2010 is between JPMORGAN CHASE BANK, N.A. (together with its successors and assigns, the
“Bank”), acting through its Lansing Business Banking LPO, whose address is 620 S. Capitol Ave., Flr. 3, Lansing, Michigan 48933, and NEOGEN CORPORATION, a Michigan corporation (the “Borrower”), whose address is 620 Lesher
Place, Lansing, Michigan 48912. 
  

	1.	Credit Facilities. 

  

	 	1.1.	Scope. This agreement governs Facility A, and, unless otherwise agreed to in writing by the Bank and the Borrower or prohibited by any Legal Requirement (as
hereafter defined), governs the Credit Facilities as defined below. Advances under any Credit Facilities shall be subject to the administrative procedures customarily established from time to time by the Bank. Any procedures agreed to by the Bank
with respect to obtaining advances, including automatic loan sweeps, shall not vary the terms or conditions of this agreement or the other Related Documents regarding the Credit Facilities. Notwithstanding the foregoing, the Bank and the Borrower
agree that any construction loan governed by a construction loan agreement, whether now existing or hereafter arising, is excluded from this agreement. 

  

	 	1.2.	Facility A (Line of Credit). The Bank has approved a credit facility to the Borrower in the principal sum not to exceed, in the aggregate at any one time
outstanding, the remainder of (a) $10,000,000.00 minus (b) the Rate Management Transaction Obligations Amount at such time (such credit facility herein referred to as “Facility A”). Credit under Facility A shall be repayable as
set forth in a Line of Credit Note dated the date hereof, and any renewals, modifications, extensions, rearrangements, restatements thereof and replacements or substitutions therefor. 

 

	2.	Definitions and Interpretations. 

  

	 	2.1.	Definitions. As used in this agreement, the following terms have the following respective meanings: 

 

	 	A.	“Acquisition” means any transaction, or any series of related transactions, consummated on or after the date of this agreement, by which the Borrower
or any of its Subsidiaries (i) acquires any going business or all or substantially all of the assets of any Person or division thereof, whether through purchase of assets, merger or otherwise or (ii) directly or indirectly acquires (in one
transaction or as the most recent transaction in a series of transactions) at least a majority of the Voting Stock of any Person. 

  

	 	B.	“Affiliate” means any Person which, directly or indirectly Controls or is Controlled by or under common Control with, another Person, and any director
or officer thereof. The Bank is under no circumstances to be deemed an Affiliate of the Borrower or any of its Subsidiaries. 

	 	C.	“Authorizing Documents” means certificates of authority to transact business, certificates of good standing, borrowing resolutions, appointments,
officer’s certificates, certificates of incumbency, and other documents which empower and authorize or evidence the power and authority of all Persons (other than the Bank) executing any Related Document or their representatives to execute and
deliver the Related Documents and perform the Person’s obligations thereunder. 

  

	 	D.	“Capital Expenditures” means any expenditure or the incurrence of any obligation or liability for any asset which is classified as a capital asset
under GAAP. 

  

	 	E.	“Capital Lease Obligations” of any Person means the obligations of such Person to pay rent or other amounts under any lease of (or other arrangement
conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on a balance sheet of such Person under GAAP, and the amount of such obligations
shall be the capitalized amount thereof determined in accordance with GAAP. 

  

	 	F.	“Change in Control” means (a) the acquisition of ownership, directly or indirectly, beneficially or of record, by any one Person or group of two
or more Persons acting as a partnership, limited partnership, syndicate, or other group for the purpose of acquiring, holding, or disposing of securities of an issuer (“Group”), of Equity Interests representing more than 25% of the
aggregate ordinary voting power represented by the issued and outstanding Equity Interests of the Borrower; (b) occupation of a majority of the seats (other than vacant seats) on the board of directors of the Borrower by Persons who were
neither (i) nominated by the board of directors of the Borrower nor (ii) appointed by directors so nominated; or (c) the acquisition of direct or indirect Control of the Borrower by any Person or Group. 

 

	 	G.	“Control” as used with respect to any Person, means the power to direct or cause the direction of, the management and policies of that Person, directly
or indirectly, whether through the ownership of Equity Interests, by contract, or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. 

 

	 	H.	“Credit Facilities” means all extensions of credit from the Bank to the Borrower, whether now existing or hereafter arising, including but not limited
to those described in Section 1, if any, and those extended contemporaneously with this agreement. 

  

	 	I.	“Default” means a default, event of default or event that would constitute a default or event of default but for the giving of notice, the lapse of
time or both, in any provision of this agreement, the Notes or any other Related Documents. 

  

	 	J.	“Distributions” means dividends and other distributions made to any Equity Owners, other than salary, bonuses, and other compensation for services
expended in the current accounting period. 

  

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	 	K.	“EBITDA” means for any period, net income plus to the extent deducted in determining net income, interest expense (including but not limited to imputed
interest on capital leases), income tax expense, depreciation, and amortization, minus Distributions; all as determined for the Borrower and its Subsidiaries on a consolidated basis for such period in accordance with GAAP. 

 

	 	L.	“Equity Interests” means shares of capital stock, partnership interests, membership interests in a limited liability company, beneficial interests in a
trust or other equity ownership interests in a Person, and any warrants, options or other rights entitling the holder thereof to purchase or acquire any such equity interest. 

 

	 	M.	“Equity Owner” means a shareholder, partner, member, holder of a beneficial interest in a trust or other owner of any Equity Interests.

  

	 	N.	“Financial Officer” means the chief financial officer, principal accounting officer, treasurer or controller of the Borrower. 

 

	 	O.	“Fiscal Quarter” means any of the quarterly accounting periods of the Borrower ending on the last day of February, May, August and November,
respectively, of each year. 

  

	 	P.	“Fiscal Year” means any of the annual accounting periods of the Borrower first ending on May 31 of each year. As an example, reference to the 2010
Fiscal Year shall mean the Fiscal Year ending May 31, 2010. 

  

	 	Q.	“Funded Debt” means, without duplication, (i) indebtedness for borrowed money (including, without limitation, indebtedness evidenced by promissory
notes, bonds, debentures and similar instruments and further any portion of the purchase price for assets or acquisitions permitted hereunder which may be financed by the seller) and purchase money indebtedness, in each case having a final maturity
of more than one year from the date of origin thereof (or which is renewable or extendible at the option of the obligor for a period or periods more than one year from the date of origin), (ii) the principal portion of Capital Lease
Obligations, (iii) all preferred stock required by the terms thereof to be redeemed, or for which mandatory sinking fund payments are due, by a fixed date, and (iv) guaranty obligations with respect to obligations of other Persons of the
types described in the foregoing clauses (i), (ii) and (iii); all as determined on a consolidated basis for the Borrower and its Subsidiaries in accordance with GAAP. Funded Debt includes, without limitation, amounts in respect of obligations
of the types described in the foregoing clauses (i), (ii), (iii) and (iv) which constitute current liabilities of the obligor under GAAP. 

  

	 	R.	“GAAP” means generally accepted accounting principles in effect from time to time in the United States of America, consistently applied.

  

	 	S.	 “Intangible Assets” means the aggregate amount of (1) all assets classified as intangible assets under GAAP, including, without
limitation, goodwill, trademarks, patents, copyrights, organization expenses, franchises, licenses, trade names, brand names, mailing lists, catalogs, excess of cost over book value of assets acquired, and bond discount and underwriting expenses;
and (2) loans or 

  

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advances to, investments in, or receivables from (i) any Affiliate, officer, director, employee, Equity Owner or agent of the Borrower or (ii) any Person if such loan, advance,
investment or receivable is outside the Borrower’s ordinary course of business. 

  

	 	T.	“Legal Requirement” means any law, ordinance, decree, requirement, order, judgment, rule, regulation (or interpretation of any of the foregoing) of any
foreign governmental authority, the United States of America, any state thereof, any political subdivision of any of the foregoing or any agency, department, commission, board, bureau, court or other tribunal having jurisdiction over the Bank or any
Obligor or any of its Subsidiaries or their respective Properties or any agreement by which any of them is bound. 

  

	 	U.	“Liabilities” means all indebtedness, liabilities and obligations of every kind and character of the Borrower to the Bank and its Affiliates, whether
the obligations, indebtedness and liabilities are individual, joint and several, contingent or otherwise, now or hereafter existing, including, without limitation, all liabilities, interest, costs and fees, arising under or from any note, open
account, overdraft, credit card, lease, Rate Management Transaction, letter of credit application, endorsement, surety agreement, guaranty, acceptance, foreign exchange contract or depository service contract, whether payable to the Bank or an
Affiliate of the Bank or to a third party and subsequently acquired by the Bank or an Affiliate of the Bank, any monetary obligations (including interest) incurred or accrued during the pendency of any bankruptcy, insolvency, receivership or other
similar proceedings, regardless of whether allowed or allowable in such proceeding, and all renewals, extensions, modifications, consolidations, rearrangements, restatements, replacements or substitutions of any of the foregoing.

  

	 	V.	“Lien” means any mortgage, deed of trust, pledge, charge, encumbrance, security interest, collateral assignment or other lien or restriction of any
kind. 

  

	 	W.	“Notes” means all promissory notes, instruments and/or contracts now or hereafter evidencing the Credit Facilities. 

 

	 	X.	“Obligor” means any Borrower, guarantor, surety, co-signer, endorser, general partner or other Person who may now or in the future be obligated to pay
any of the Liabilities. 

  

	 	Y.	“Organizational Documents” means, with respect to any Person, certificates of existence or formation, documents establishing or governing the Person or
evidencing or certifying that the Person is duly organized and validly existing in accordance with all applicable Legal Requirements, including all amendments, restatements, supplements or modifications to such certificates and documents as of the
date of the Related Document referring to the Organizational Document and any and all future modifications thereto approved by the Bank. 

  

	 	Z.	 “Permitted Encumbrances” means: (a) Liens imposed by law for taxes that are not yet due or are being contested in compliance with
Section 5.04; (b) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s and other like Liens imposed by law, arising in the ordinary course of business and securing obligations that are not overdue by
more than 30 days or are being contested in 

  

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compliance with Section 4.2; (c) pledges and deposits made in the ordinary course of business in compliance with workers’ compensation, unemployment insurance and other social
security laws or regulations; (d) deposits to secure the performance of bids, trade contracts, leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in each case in the ordinary course
of business; and (e) easements, zoning restrictions, rights-of-way and similar encumbrances on real property imposed by law or arising in the ordinary course of business that do not secure any monetary obligations and do not materially detract
from the value of the affected property or interfere with the ordinary conduct of business of the Borrower or any Subsidiary; provided that the term “Permitted Encumbrances” shall not include any Lien securing indebtedness.

  

	 	AA.	“Person” means any individual, corporation, partnership, limited liability company, joint venture, joint stock association, association, bank, business
trust, trust, unincorporated organization, any foreign governmental authority, the United States of America, any state of the United States and any political subdivision of any of the foregoing or any other form of entity. 

 

	 	BB.	“Property” means any interest in any kind of property or asset, whether real, personal or mixed, tangible or intangible. 

 

	 	CC.	“Rate Management Transaction” means any transaction (including an agreement with respect thereto) that is a rate swap, basis swap, forward rate
transaction, commodity swap, commodity option, equity or equity index swap, equity or equity index option, bond option, interest rate option, foreign exchange transaction, cap transaction, floor transaction, collar transaction, forward transaction,
currency swap transaction, cross-currency rate swap transaction, currency option, derivative transaction or any other similar transaction (including any option with respect to any of these transactions) or any combination thereof, whether linked to
one or more interest rates, foreign currencies, commodity prices, equity prices or other financial measures. 

  

	 	DD.	“Rate Management Transaction Obligations Amount” means, as of any date, all obligations of the Borrower and its Subsidiaries under or in respect of
Rate Management Transactions; provided that the “obligations” of the Borrower or any Subsidiary in respect of any Rate Management Transaction at any time shall be the maximum aggregate amount that the Borrower or such Subsidiary
would be required to pay if such Rate Management Transaction were terminated at such time. Rate Management Transaction Obligations Amount shall not, at any time, include, be reduced by, or otherwise take into account any amount that might be owing
to the Borrower or any Subsidiary under any Rate Management Transaction. 

  

	 	EE.	“Related Documents” means this agreement, the Notes, letters of credit, applications for letters of credit, all loan agreements, credit agreements,
guaranties, and any other agreement, instrument or document executed in connection with this agreement or with any of the Liabilities. 

  

	 	FF.	“Subordinated Debt” means debt subordinated to the Liabilities in manner and by written agreement satisfactory to the Bank. 

 

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	 	GG.	“Subsidiary” means, as to any particular Person (the “parent”), a Person the accounts of which would be consolidated with those of the parent
in the parent’s consolidated financial statements if such financial statements were prepared in accordance with GAAP as of the date of determination, as well as any other Person of which fifty percent (50%) or more of the Equity Interests
is at the time of determination directly or indirectly owned, Controlled or held, by the parent or by any Person or Persons Controlled by the parent, either alone or together with the parent. 

 

	 	HH.	“Tangible Net Worth” means total assets less the sum of Intangible Assets and total liabilities; all as determined for the Borrower and its
Subsidiaries on a consolidated basis in accordance with GAAP. 

  

	 	II.	“Voting Stock” of a Person means all classes of Equity Interests of such Person then outstanding and normally entitled (without regard to the
occurrence of any contingency) to vote in the election of directors, managers or trustees thereof. 

  

	 	2.2.	Interpretations. 

  

	 	A.	 Whenever possible, each provision of the Related Documents shall be interpreted in such manner as to be effective and valid under applicable Legal
Requirements. If any provision of this agreement cannot be enforced, the remaining portions of this agreement shall continue in effect. In the event of any conflict or inconsistency between this agreement and the provisions of any other Related
Documents, the provisions of this agreement shall control. Use of the term “including” does not imply any limitation on (but may expand) the antecedent reference. Any reference to a particular document includes all modifications,
supplements, replacements, renewals or extensions of that document, but this rule of construction does not authorize amendment of any document without the Bank’s consent. Section headings are for convenience of reference only and do not affect
the interpretation of this agreement. Except as otherwise expressly provided herein, all terms of an accounting or financial nature shall be construed in accordance with GAAP, provided that, if the Borrower notifies the Bank that it wishes to
amend any covenant in Section 5.2 to eliminate the effect of any change in GAAP (or if the Bank notifies the Borrower that the Bank wishes to amend Section 5.2 for such purpose), then the Borrower’s compliance with such covenants
shall be determined on the basis of GAAP in effect immediately before the relevant change in GAAP became effective until either such notice is withdrawn or such covenant or any such defined term is amended in a manner satisfactory to the Borrower
and the Bank. The Borrower shall deliver to the Bank at the same time as the delivery of any annual or quarterly financial statement under Section 4.5 hereof: (i) a description in reasonable detail of any material variation between the
application or any modification of accounting principles employed in the preparation of such statement and the application or any modification of accounting principles employed in the preparation of the immediately prior annual or quarterly
financial statements as to which no objection has been made in accordance with this paragraph (a) and (ii) if requested by the Bank, reasonable estimates of the difference between such statements arising as a consequence thereof.
Notwithstanding anything herein, in any financial statements of the Borrower or in GAAP to the contrary, for purposes of calculating and determining compliance with the financial covenants

  

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in Section 5.2, including defined terms used therein, any Acquisitions made by the Borrower or any of its Subsidiaries, including through mergers or consolidations and including any related
financing transactions, during the period for which such financial covenants were calculated shall be deemed to have occurred on the first day of the relevant period for which such financial covenants were calculated on a pro forma basis acceptable
to the Bank. 

  

	 	B.	Except as otherwise expressly provided herein, all references to a time of day shall be references to Eastern Time. Whenever the Bank’s determination, consent,
approval or satisfaction is required under this agreement or the other Related Documents or whenever the Bank may at its option take or refrain from taking any action under this agreement or the other Related Documents, the decision as to whether or
not the Bank makes the determination, consents, approves, is satisfied or takes or refrains from taking any action, shall be in the sole and exclusive discretion of the Bank, and the Bank’s decision shall be final and conclusive.

  

	 	C.	The Borrower agrees to take all necessary action, including without limitation obtaining any necessary acknowledgments or consents from the Borrower’s auditors as
may be required under applicable law, to ensure that the Bank may rely on the audited financial statements of the Borrower, including the audited financial statements delivered to the Bank before and after the date of this agreement.

  

	3.	Conditions Precedent to Extensions of Credit. 

  

	 	3.1.	Conditions Precedent to Initial Extension of Credit under each of the Credit Facilities. Before the first extension of credit governed by this agreement and any
initial advance under any of the Credit Facilities, whether by disbursement of a loan, issuance of a letter of credit, or otherwise, the Borrower shall deliver to the Bank, and the Borrower shall complete, in form and substance satisfactory to the
Bank, the following: 

  

	 	A.	Loan Documents. The Notes, and as applicable, the letter of credit applications, reimbursement agreements, the guaranties, the subordination agreements, and any
other documents which the Bank may reasonably require to give effect to the transactions described in this agreement or the other Related Documents; 

  

	 	B.	Organizational and Authorizing Documents. The Organizational Documents and Authorizing Documents of the Borrower and any other Persons (other than the Bank)
executing the Related Documents in form and substance satisfactory to the Bank that at a minimum: (i) document the due organization, valid existence and good standing of the Borrower and every other Person (other than the Bank) that is a party
to this agreement or any other Related Document; (ii) evidence that each Person (other than the Bank) which is a party to this agreement or any other Related Document has the power and authority to enter into the transactions described therein;
and (iii) evidence that the Person signing on behalf of each Person that is a party to the Related Documents (other than the Bank) is duly authorized to do so; 

 

	 	C.	Liens. The termination of all Liens on the assets of the Borrower and its Subsidiaries other than Liens permitted under this agreement; and

  

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	 	D.	Fee. The Borrower shall have paid to the Bank a fee for this agreement in the amount of $5,000 in immediately available funds. So long as the Borrower remains in
compliance with Section 4.11, the Bank shall not charge any fee on the unused commitment hereunder. 

  

	 	3.2.	Conditions Precedent to Each Extension of Credit. Before any extension of credit governed by this agreement, whether by disbursement of a loan, issuance of a
letter of credit or otherwise, the following conditions must be satisfied: 

  

	 	A.	Representations. The representations of the Borrower and any other parties, other than the Bank, in the Related Documents are true on and as of the date of the
request for and funding of the extension of credit; 

  

	 	B.	No Default. No Default has occurred and is continuing or would result from the extension of credit; 

 

	 	C.	Additional Approvals, Opinions, and Documents. The Bank has received any other approvals, opinions and documents as it may reasonably request; and

  

	 	D.	No Prohibition or Onerous Conditions. The making of the extension of credit is not prohibited by and does not subject the Bank, any Obligor, or any Subsidiary of
the Borrower to any penalty or onerous condition under, any Legal Requirement. 

  

	4.	Affirmative Covenants.     The Borrower agrees to do, and cause each of its Subsidiaries to do, each of the following:

  

	 	4.1.	Insurance. Maintain insurance with financially sound and reputable insurers, with such insurance and insurers to be satisfactory to the Bank, covering its
Property and business against those casualties and contingencies and in the types and amounts as are in accordance with sound business and industry practices, and furnish to the Bank, upon request of the Bank, reports on each existing insurance
policy showing such information as the Bank may reasonably request. 

  

	 	4.2.	Existence. Maintain its existence and business operations as presently in effect in accordance with all applicable Legal Requirements, pay its debts and
obligations when due under normal terms, and pay on or before their due date, all taxes, assessments, fees and other governmental monetary obligations, except as they may be contested in good faith if they have been properly reflected on its books
and, at the Bank’s request, adequate funds or security has been pledged or reserved to insure payment. 

  

	 	4.3.	Financial Records. Maintain proper books and records of account, in accordance with GAAP, and consistent with financial statements previously submitted to the
Bank. 

  

	 	4.4.	 Inspection. Permit the Bank, its agents and designees to: (a) inspect its Property, examine and copy files, books and records, and discuss
its business, operations, prospects, assets, affairs and financial condition with the Borrower’s or its Subsidiaries’ officers and accountants, at times and intervals as the Bank reasonably determines upon reasonable notice; and
(b) confirm with any Person any obligations and liabilities of the Person to the Borrower or its Subsidiaries. The Borrower will, and will cause its Subsidiaries to, cooperate with any inspection or examination. The Borrower will pay the

  

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Bank the reasonable costs and expenses of any inspection or examination permitted under this Section 4.4 promptly after receiving the invoice; provided that so long as no Default has
occurred and is continuing, the Borrower shall not be required to pay such costs and expenses for more than two such inspections or examinations annually. 

 

	 	4.5.	Financial Reports. Furnish to the Bank whatever information, statements, books and records the Bank may from time to time reasonably request, including at a
minimum: 

  

	 	A.	Within 90 days after the end of each Fiscal Year of the Borrower, the audited consolidated balance sheet and related statements of operations, stockholders’
equity and cash flows as of the end of and for such year, setting forth in each case in comparative form the figures for the previous Fiscal Year, all reported on by Ernst & Young or other independent public accountants of recognized
national standing (without a “going concern” or like qualification or exception and without any qualification or exception as to the scope of such audit) to the effect that such consolidated financial statements present fairly in all
material respects the financial condition and results of operations of the Borrower and its consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently applied; 

 

	 	B.	Within 60 days after the end of each Fiscal Quarter, its consolidated balance sheet and related statements of operations, stockholders’ equity and cash flows
as of the end of and for such Fiscal Quarter and the then elapsed portion of the Fiscal Year, setting forth in each case in comparative form the figures for the corresponding period or periods of (or, in the case of the balance sheet, as of the end
of) the previous Fiscal Year, all certified by one of its Financial Officers as presenting fairly in all material respects the financial condition and results of operations of the Borrower and its consolidated Subsidiaries on a consolidated basis in
accordance with GAAP consistently applied, subject to normal year-end audit adjustments and the absence of footnotes; 

  

	 	C.	Concurrently with any delivery of financial statements under clause A. or B. above, a certificate of a Financial Officer of the Borrower (i) certifying as to
whether a Default has occurred and, if a Default has occurred, specifying the details thereof and any action taken or proposed to be taken with respect thereto, (ii) setting forth reasonably detailed calculations demonstrating compliance with
the financial covenants under Section 5.2 of this agreement and (iii) stating whether any change in GAAP or in the application thereof has occurred since the date of the latest audited financial statements of the Borrower delivered to the
Bank and, if any such change has occurred, specifying the effect of such change on the financial statements accompanying such certificate; 

  

	 	D.	Promptly after the same become publicly available, copies of all periodic and other reports, proxy statements and other materials filed by the Borrower or any
Subsidiary with the Securities and Exchange Commission, or any governmental authority succeeding to any or all of the functions of said Commission, or with any national securities exchange, or distributed by the Borrower to its shareholders
generally, as the case may be; 

  

	 	E.	Promptly following any request therefor, such other information regarding the operations, business affairs and financial condition of the Borrower or any Subsidiary, or
compliance with the terms of this agreement, as the Bank may reasonably request. 

  

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	 	4.6.	Notices of Claims, Litigation, Defaults, etc. Promptly inform the Bank in writing of (1) all existing and all threatened (in writing) litigation, claims,
investigations, administrative proceedings and similar actions or changes in Legal Requirements affecting it which could materially negatively affect its business, assets, affairs, prospects or financial condition; (2) the occurrence of any
event which gives rise to the Bank’s option to terminate the Credit Facilities; (3) the institution of steps by it to withdraw from, or the institution of any steps to terminate, any employee benefit plan as to which it may have liability;
(4) any reportable event or any prohibited transaction in connection with any employee benefit plan; (5) any additions to or changes in the locations of its businesses; and (6) any alleged breach by the Bank of any provision of this
agreement or of any other Related Document. 

  

	 	4.7.	Other Agreements. Comply with all material terms and conditions of all other agreements, whether now or hereafter existing, between it and any other Person.

  

	 	4.8.	Title to Assets and Property. Maintain good and marketable title to all of its Properties, and defend them against all claims and demands of all Persons at any
time claiming any interest in them. 

  

	 	4.9.	Additional Assurances. Promptly make, execute and deliver any and all agreements, documents, instruments and other records that the Bank may request to evidence
any of the Credit Facilities, cure any defect in the execution and delivery of any of the Related Documents, comply with any Legal Requirement applicable to the Bank with respect to any Obligor or the Credit Facilities or describe more fully
particular aspects of the agreements set forth or intended to be set forth in any of the Related Documents. 

  

	 	4.10.	Employee Benefit Plans. Maintain each employee benefit plan as to which it may have any liability, in compliance with all Legal Requirements.

  

	 	4.11.	Banking Relationship. Establish and maintain its primary, domestic operating depository and disbursement accounts with the Bank. 

 

	5.	Negative Covenants. 

  

	 	5.1.	Unless otherwise noted, the financial requirements set forth in this section will be computed in accordance with GAAP applied on a basis consistent with financial
statements previously submitted by the Borrower to the Bank. 

  

	 	5.2.	Without the prior written consent of the Bank, the Borrower will not and no Subsidiary of the Borrower will: 

 

	 	A.	 Debt and Lease Obligations. Incur, contract for, assume, or permit to remain outstanding indebtedness for borrowed money, installment
obligations, or obligations under capital leases or operating leases, other than (1) unsecured trade debt incurred in the ordinary course of business, (2) indebtedness of the Borrower or any Subsidiary incurred to finance the acquisition,
construction or improvement of any fixed or capital assets, including Capital Lease Obligations and any indebtedness assumed in connection with the acquisition of any such 

 

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assets or secured by a Lien on any such assets prior to the acquisition thereof, and extensions, renewals and replacements of any such indebtedness that do not increase the outstanding principal
amount thereof; provided that (i) such indebtedness is incurred prior to or within 90 days after such acquisition or the completion of such construction or improvement and (ii) the aggregate principal amount of indebtedness
permitted by this clause (2) shall not exceed $250,000 at any time outstanding, and (3) obligations (other than Capital Lease Obligations) of the Borrower and its Subsidiaries, whether directly or by assignment or as a guarantor or other
contingent obligor, under any lease of real or personal property, provided that the aggregate amount of such obligations under all such leases, determined based upon the highest annual rent and other amounts (exclusive of property taxes,
property and liability insurance premiums and maintenance costs) that may be payable thereunder in any Fiscal Year during the term thereof, does not exceed $250,000. 

 

	 	B.	Liens. Create or permit to exist any Lien on any of its Property except: (1) Permitted Encumbrances, (2) Liens in favor of the Bank or any of its
Affiliates, (3) Liens on fixed or capital assets acquired, constructed or improved by the Borrower or any Subsidiary; provided that (i) such security interests secure indebtedness permitted by clause (2) of Section 5.2A,
(ii) such security interests and the indebtedness secured thereby are incurred prior to or within 90 days after such acquisition or the completion of such construction or improvement, (iii) the indebtedness secured thereby does not
exceed the cost of acquiring, constructing or improving such fixed or capital assets and (iv) such security interests shall not apply to any other property or assets of the Borrower or any Subsidiary 

 

	 	C.	Use of Proceeds. Use, or permit any proceeds of the Credit Facilities to be used, directly or indirectly, for the purpose of “purchasing or carrying any
margin stock” within the meaning of Federal Reserve Board Regulation U. At the Bank’s request, it will furnish a completed Federal Reserve Board Form U-1. 

 

	 	D.	Continuity of Operations. (1) Engage in any business activities substantially different from those in which it is presently engaged; (2) cease
operations, liquidate, merge (except any Subsidiary may merge with the Borrower so long as the Borrower is the survivor or with any other Subsidiary of the Borrower), transfer, acquire (except as permitted under Section 5.2G) or consolidate
with any other Person, change its name, dissolve, or lease, sell or otherwise convey a material part of its assets or business out of the ordinary course of business; (3) enter into any arrangement with any Person providing for the leasing by
it of Property which has been sold or transferred by it to such Person; or (4) change its business organization, the jurisdiction under which its business organization is formed or organized, or its chief executive office, or any places of its
businesses. Notwithstanding the foregoing, the Borrower or any of its Subsidiaries may do any of the things, or take any action, prohibited by this Section 5.2.D. if prior to, or concurrently with, the consummation thereof or the taking of such
action, the Borrower indefeasibly pays in full all Liabilities in immediately available funds, and provides to the Bank cash collateral in the aggregate amount of all reimbursement obligations in respect of letters of credit and other contingent
Liabilities, and all commitments of the Bank to lend or otherwise extend credit to the Borrower and its Subsidiaries have expired or are terminated. 

 

 -11- 

	 	E.	Limitation on Negative Pledge Clauses. Enter into any agreement with any Person other than the Bank which prohibits or limits its ability to create or permit to
exist any Lien on any of its Property, whether now owned or hereafter acquired; provided that the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to secured indebtedness permitted by clause
(2) of Section 5.2A of this agreement if such restrictions or conditions apply only to the property or assets securing such indebtedness or to customary provisions in leases restricting the assignment thereof. 

 

	 	F.	Conflicting Agreements. Enter into any agreement containing any provision which would be violated or breached by the performance of its obligations under this
agreement or any of the other Related Documents. 

  

	 	G.	Limitation on Acquisitions. Make any Acquisition if any Default has occurred and is continuing, whether before or after giving effect to such Acquisition, or
would be caused thereby, or if, after giving effect to such Acquisition on a pro forma basis, the Borrower would not have been in compliance with all financial covenants under this agreement as of the end of the last Fiscal Quarter preceding the
consummation of such Acquisition. 

  

	 	H.	Organizational Documents. Alter, amend or modify any of its Organizational Documents without giving the Bank prior written notice thereof.

  

	 	I.	Tangible Net Worth. Permit or suffer at any time the Tangible Net Worth to be less than $55,000,000.00 at, or at any time after, the end of the Fiscal Quarter
ending May 31, 2010. 

  

	 	J.	Debt Service Coverage Ratio. Permit or suffer the “Debt Service Coverage Ratio” (hereinafter defined in this subsection) to be less than 2.50 to 1.00.
As used in this subsection, the term “Debt Service Coverage Ratio” means the ratio of (i) net income, after taxes, plus amortization, depreciation and interest, minus distributions and dividends, for the twelve-month period then
ending, divided by (ii) current maturities of long-term debt, plus interest and current maturities of capital leases for the same such twelve-month period; such ratio to be evaluated as of the end of each Fiscal Year, beginning with the Fiscal
Year ending May 31, 2011, for the Borrower and its Subsidiaries on a consolidated basis in accordance with GAAP. 

  

	 	K.	Funded Debt to EBITDA Ratio. Permit or suffer the ratio of Funded Debt as of the end of any Fiscal Quarter, beginning with the Fiscal Quarter ending May 31,
2010, to EBITDA for the period of four consecutive Fiscal Quarters of the Borrower then ending to be greater than 2.50 to 1.00. 

  

	 	L.	Rate Management Transactions. Enter into or be a party to any Rate Management Transaction, other than for bona fide hedging purposes with respect to the
Borrower’s non-U.S. dollar currency exposure and not for speculation, or suffer or permit the Rate Management Transaction Obligations Amount at any time to exceed $1,000,000. 

 

	 	M.	Affiliate Loans. Make or commit to make any loans or advances to any Subsidiaries or other Affiliates of the Borrower in an aggregate amount exceeding $3,000,000
at any time, notwithstanding anything in this agreement to the contrary. 

  

 -12- 

	 	N.	Distributions. Make or pay, or commit to make or pay, any Distributions if any Default has occurred and is continuing or would result from such
Distribution. 

  

	 	O.	Government Regulation. (1) Be or become subject at any time to any Legal Requirement or list of any government agency (including, without limitation, the
U.S. Office of Foreign Asset Control list) that prohibits or limits the Bank from making any advance or extension of credit to it or from otherwise conducting business with it, or (2) fail to provide documentary and other evidence of its
identity as may be requested by the Bank at any time to enable the Bank to verify its identity or to comply with any applicable Legal Requirement, including, without limitation, Section 326 of the USA Patriot Act of 2001, 31 U.S.C.
Section 5318. 

  

	 	5.3.	Financial Statement Calculations. The financial covenant(s) set forth in the Section entitled “Negative Covenants” or in any subsection thereof shall,
except as may be otherwise expressly provided with respect to any particular financial covenant, be calculated on the basis of the Borrower’s financial statements prepared on a consolidated basis with its Subsidiaries in accordance with GAAP.
Except as may be otherwise expressly provided with respect to any particular financial covenant, if any financial covenant states that it is to be tested with respect to any particular period of time (which may be referred to therein as a “Test
Period”) ending on any test date (e.g., a fiscal month end, fiscal quarter end, or fiscal year end), then compliance with that covenant shall be required commencing with the period of time ending on the first test date that occurs after the
date of this agreement (or, if applicable, of the amendment to this agreement which added or amended such financial covenant). 

  

	6.	Representations. 

  

	 	6.1.	 Representations and Warranties by the Borrower. To induce the Bank to enter into this agreement and to extend credit or other financial
accommodations under the Credit Facilities, the Borrower represents and warrants as of the date of this agreement and as of the date of each request for credit under the Credit Facilities that each of the following statements is and shall remain
true and correct throughout the term of this agreement and until all Credit Facilities and all Liabilities under the Notes and other Related Documents are paid in full: (a) its principal residence or chief executive office is at the address
shown above, (b) its name as it appears in this agreement is its exact name as it appears in its Organizational Documents, (c) the execution and delivery of this agreement and the other Related Documents to which it is a party, and the
performance of the obligations they impose, do not violate any Legal Requirement, conflict with any agreement by which it is bound, or require the consent or approval of any other Person, (d) this agreement and the other Related Documents have
been duly authorized, executed and delivered by all parties thereto (other than the Bank) and are valid and binding agreements of those Persons, enforceable according to their terms, except as may be limited by bankruptcy, insolvency or other laws
affecting the enforcement of creditors’ rights generally and by general principles of equity, (e) all balance sheets, profit and loss statements, and other financial statements and other information furnished to the Bank in connection with
the Liabilities are accurate and fairly reflect the financial condition of the Persons to which they apply on their effective dates, including contingent liabilities of every type, which

  

 -13- 

	 	 
financial condition has not changed materially and adversely since those dates, (f) no litigation, claim, investigation, administrative proceeding or similar action (including those for
unpaid taxes) is pending or threatened against it, and no other event has occurred which may in any one case or in the aggregate materially adversely affect it or any of its Subsidiaries’ financial condition, properties, business, affairs or
operations, other than litigation, claims, or other events, if any, that have been disclosed to and acknowledged by the Bank in writing, (g) all of its tax returns and reports that are or were required to be filed, have been filed, and all
taxes, assessments and other governmental charges have been paid in full, except those presently being contested by it in good faith and for which adequate reserves have been provided, (h) it is not an “investment company” or a
company “controlled” by an “investment company”, within the meaning of the Investment Company Act of 1940, as amended, (i) there are no defenses or counterclaims, offsets or adverse claims, demands or actions of any kind,
personal or otherwise, that it could assert with respect to this agreement or the Credit Facilities, (j) it owns, or is licensed to use, all trademarks, trade names, copyrights, technology, know-how and processes necessary for the conduct of
its business as currently conducted, and (k) the execution and delivery of this agreement and the other Related Documents to which it is a party and the performance of the obligations they impose, if the Borrower is other than a natural Person
(i) are within its powers, (ii) have been duly authorized by all necessary action of its governing body, and (iii) do not contravene the terms of its Organizational Documents or other agreement or document governing its affairs.

  

	7.	Default/Remedies. 

  

	 	7.1.	Events of Default/Acceleration. If any of the following events occurs, the Notes shall become due immediately, without notice, at the Bank’s option:

  

	 	A.	Any Obligor fails to pay when due any of the Liabilities, fails to pay any other debt or obligation in an aggregate amount exceeding $250,000 to any Person, fails to
pay any amount payable with respect to any of the Liabilities, or under any Note or any other Related Document, or fails to pay an aggregate amount exceeding $250,000 with respect to any agreement or instrument evidencing any other debt or
obligation to any Person. 

  

	 	B.	Any Obligor: (i) fails to observe or perform or otherwise violates any other term, covenant, condition or agreement of any of the Related Documents;
(ii) makes or furnishes any materially incorrect or misleading representation, warranty, statement or certificate to the Bank, at the time made (or deemed made) or furnished; (iii) makes any materially incorrect or misleading
representation in any financial statement or other information delivered to the Bank; or (iv) defaults under or fails to comply with or perform any term, obligation, covenant or condition contained in any agreement or agreements (other than
this agreement and the other Related Documents) between any Person and any Obligor or Obligors under which the debt and/or obligations of any Obligor or Obligors in the aggregate exceed $250,000. 

 

	 	C.	 In the event (i) there is a default under the terms of any Related Document, (ii) any Obligor terminates or revokes or purports to terminate
or revoke its guaranty or any Obligor’s guaranty becomes unenforceable in whole or in part, (iii) any Obligor fails to perform promptly under its guaranty, or (iv) any Obligor fails to comply with, or perform under any agreement, now
or hereafter in effect, 

  

 -14- 

	 	 
between the Obligor and the Bank, or any Affiliate of the Bank or their respective successors and assigns, after giving effect to any applicable grace or cure period.

  

	 	D.	[intentionally omitted] 

  

	 	E.	Any event occurs that would permit the Pension Benefit Guaranty Corporation to terminate any employee benefit plan, if any, of any Obligor or any Subsidiary of any
Obligor and the effect thereof would reasonably be expected to have a material adverse effect on the Property, financial condition, business, assets, affairs, prospects, liabilities, or operations of any Obligor or any Subsidiary.

  

	 	F.	Any Obligor or any of its Subsidiaries: (i) becomes insolvent or unable to pay its debts as they become due; (ii) makes an assignment for the benefit of
creditors; (iii) consents to the appointment of a custodian, receiver, or trustee for itself or for a substantial part of its Property; (iv) commences any proceeding under any bankruptcy, reorganization, liquidation, insolvency or similar
laws; (v) conceals or removes any of its Property, with intent to hinder, delay or defraud any of its creditors; (vi) makes or permits a transfer of any of its Property, which may be fraudulent under any bankruptcy, fraudulent conveyance
or similar law; or (vii) makes a transfer of any of its Property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paid. 

 

	 	G.	A custodian, receiver, or trustee is appointed for any Obligor or any of its Subsidiaries or for a substantial part of their respective Property.

  

	 	H.	Any Obligor or any of its Subsidiaries, without the Bank’s written consent: (i) liquidates or is dissolved; (ii) merges or consolidates with any other
Person; or (iii) leases, sells or otherwise conveys a material part of its assets or business outside the ordinary course of its business; or (iv) agrees to do any of the foregoing. 

 

	 	I.	Proceedings are commenced under any bankruptcy, reorganization, liquidation, or similar laws against any Obligor or any of its Subsidiaries and remain undismissed for
thirty (30) days after commencement; or any Obligor or any of its Subsidiaries consents to the commencement of those proceedings. 

  

	 	J.	Any judgment or decree is entered against any Obligor or any of its Subsidiaries, or any attachment, seizure, sequestration, levy, or garnishment is issued against any
Property of any Obligor or any of its Subsidiaries. 

  

	 	K.	The occurrence or existence of any default, event of default or other similar condition or event (however described) with respect to Rate Management Transactions.

  

	 	L.	Any Change in Control. 

  

	 	M.	The Borrower or any of its Subsidiaries fails to comply with all applicable statutes, laws, ordinances and governmental rules, regulations and orders to which it is
subject or which are applicable to its business, property and assets. 

  

 -15- 

	 	N.	Any material adverse change occurs in: (i) the reputation, Property, financial condition, business, assets, affairs, prospects, liabilities, or operations of any
Obligor or any of its Subsidiaries; or (ii) any Obligor’s or Pledgor’s ability to perform its obligations under the Related Documents. 

  

	 	7.2.	Remedies. At any time after the occurrence of a default, the Bank may do one or more of the following: (a) cease permitting the Borrower to incur any
Liabilities; (b) terminate any commitment of the Bank evidenced by any of the Notes; (c) declare any of the Notes to be immediately due and payable, without notice of acceleration, presentment and demand or protest or notice of any kind,
all of which are hereby expressly waived; (d) exercise all rights of setoff that the Bank may have contractually, by law, in equity or otherwise; and (e) exercise any and all other rights pursuant to any of the Related Documents, at law,
in equity or otherwise. 

  

	 	A.	Generally. The rights of the Bank under this agreement and the other Related Documents are in addition to other rights (including without limitation, other
rights of setoff) the Bank may have contractually, by law, in equity or otherwise, all of which are cumulative and hereby retained by the Bank. Each Obligor agrees to stand still with regard to the Bank’s enforcement of its rights.

  

	 	B.	Expenses. To the extent not prohibited by applicable Legal Requirements and whether or not the transactions contemplated by this agreement are consummated, the
Borrower is liable to the Bank and agrees to pay on demand all reasonable out-of-pocket costs and expenses of every kind incurred in connection with the negotiation, preparation, execution, filing, recording, modification, supplementing, waiver and
enforcement of this agreement and the other Related Documents, and the making, servicing and collection of the Credit Facilities and any other amounts owed under the Related Documents, including without limitation reasonable and attorneys’ fees
and costs and court costs. These costs and expenses include without limitation any costs or expenses incurred by the Bank in any bankruptcy, reorganization, insolvency or other similar proceeding involving any Obligor or Property of any Obligor. The
obligations of the Borrower under this section shall survive the termination of this agreement. Notwithstanding anything to the contrary, with respect only to the negotiation, preparation and execution of this agreement and the other Related
Documents prior to and through the initial closing of this agreement, the Borrower shall not be liable for attorneys’ fees of counsel for the Bank exceeding $7,500 in the aggregate. 

 

	 	C.	 Bank’s Right of Setoff. The Borrower grants to the Bank a security interest in all Deposits, Securities and Other Property, and Bank Debt
to secure any and all Liabilities, and the Bank is authorized to setoff and apply all Deposits, Securities and Other Property, and Bank Debt against any and all Liabilities. This right of setoff may be exercised at any time from time to time after
the occurrence of any default, without prior notice to or demand on the Borrower and regardless of whether any Liabilities are contingent, unmatured or unliquidated. In this paragraph: (a) the term “Deposits” means any and all
accounts and deposits of the Borrower (whether general, special, time, demand, provisional or final) at any time held by the Bank or any other subsidiary or Affiliate of JPMorgan Chase & Co. (each hereafter referred to as a “Bank
Affiliate”) and all other obligations at any time by the Bank or any Bank Affiliate to Borrower (including all Deposits 

 

 -16- 

	 	 
held jointly with another, but excluding any IRA or Keogh Deposits, or any trust Deposits in which a security interest would be prohibited by any Legal Requirement); (b) the term
“Securities and Other Property” means any and all securities and other personal Property of the Borrower in the custody, possession or control of the Bank or any Bank Affiliate (other than Property held by the Bank in a fiduciary
capacity); and (c) the term “Bank Debt” means all indebtedness at any time owing by the Bank or any Bank Affiliate, to or for the credit or account of the Borrower and any claim of the Borrower (whether individual, joint and several
or otherwise) against the Bank or any Bank Affiliate now or hereafter existing. 

  

	8.	Miscellaneous. 

  

	 	8.1.	Notice. Any notices and demands under or related to this agreement or the Notes shall be in writing and delivered to the intended party at its address stated in
this agreement, and if to the Bank, at its main office if no other address of the Bank is specified in this agreement, by one of the following means: (a) by hand; (b) by a nationally recognized overnight courier service; or (c) by
certified mail, postage prepaid, with return receipt requested. Notice shall be deemed given: (a) upon receipt if delivered by hand; (b) on the Delivery Day after the day of deposit with a nationally recognized courier service; or
(c) on the third Delivery Day after the notice is deposited in the mail. “Delivery Day” means a day other than a Saturday, a Sunday or any other day on which national banking associations are authorized to be closed. Any party may
change its address for purposes of the receipt of notices and demands by giving notice of the change in the manner provided in this provision. 

  

	 	8.2.	No Waiver. No delay on the part of the Bank in the exercise of any right or remedy waives that right or remedy. No single or partial exercise by the Bank of any
right or remedy precludes any other future exercise of it or the exercise of any other right or remedy. The making of an advance during the existence of any default or subsequent to the occurrence of a default or when all conditions precedent have
not been met shall not constitute a waiver of the default or condition precedent. No waiver or indulgence by the Bank of any default is effective unless it is in writing and signed by the Bank, nor shall a waiver on one occasion bar or waive that
right on any future occasion. 

  

	 	8.3.	Integration. This agreement, the Notes, and the other Related Documents embody the entire agreement and understanding between the Borrower and the Bank and
supersede all prior agreements and understandings relating to their subject matter. If any one or more of the obligations of the Borrower under this agreement or the Notes is invalid, illegal or unenforceable in any jurisdiction, the validity,
legality and enforceability of the remaining obligations of the Borrower shall not in any way be affected or impaired, and the invalidity, illegality or unenforceability in one jurisdiction shall not affect the validity, legality or enforceability
of the obligations of the Borrower under this agreement, the Notes and the other Related Documents in any other jurisdiction. 

  

	 	8.4.	[intentionally omitted] 

  

	 	8.5.	Governing Law and Venue. This agreement will be governed by and interpreted in accordance with federal law and the laws of the State of Michigan. The Borrower
agrees that any legal action or proceeding with respect to any of its obligations under this agreement may be brought by the Bank in any state or federal court located in the State of Michigan. The Borrower waives any claim that the State of
Michigan is not a convenient forum or the proper venue for any such suit, action or proceeding. 

  

 -17- 

	 	8.6.	Survival of Representations and Warranties. The Borrower understands and agrees that in extending the Credit Facilities, the Bank is relying on all
representations, warranties, and covenants made by the Borrower in this agreement or in any certificate or other instrument delivered by the Borrower to the Bank under this agreement or in any of the other Related Documents. The Borrower further
agrees that regardless of any investigation made by the Bank, all such representations, warranties and covenants will survive the making of the Credit Facilities and delivery to the Bank of this agreement, shall be continuing in nature, and shall
remain in full force and effect until such time as the Liabilities shall be paid in full. 

  

	 	8.7.	Non-Liability of the Bank. The relationship between the Borrower on one hand and the Bank on the other hand shall be solely that of borrower and lender. The Bank
shall have no fiduciary responsibilities to the Borrower. The Bank undertakes no responsibility to the Borrower to review or inform the Borrower of any matter in connection with any phase of the Borrower’s business or operations.

  

	 	8.8.	Indemnification of the Bank. The Borrower agrees to indemnify, defend and hold the Bank, its parent companies, Subsidiaries, Affiliates, their respective
successors and assigns and each of their respective shareholders, directors, officers, employees and agents (collectively, the “Indemnified Persons”) harmless from any and against any and all loss, liability, obligation, damage, penalty,
judgment, claim, deficiency, expense, interest, penalties, attorneys’ fees (including the fees and expenses of any attorneys engaged by the Indemnified Person) and amounts paid in settlement (“Claims”) to which any Indemnified Person
may become subject arising out of or relating to the Credit Facilities or the Liabilities under this agreement or any other Related Documents, except to the limited extent that the Claims are proximately caused by the Indemnified Person’s gross
negligence or willful misconduct. The indemnification provided for in this paragraph shall survive the termination of this agreement and shall not be affected by the presence, absence or amount of or the payment or nonpayment of any claim under, any
insurance. 

  

	 	8.9.	Counterparts. This agreement may be executed in multiple counterparts, each of which, when so executed, shall be deemed an original, but all such counterparts,
taken together, shall constitute one and the same agreement. 

  

	 	8.10.	Advice of Counsel. The Borrower acknowledges that it has been advised by counsel, or had the opportunity to be advised by counsel, in the negotiation, execution
and delivery of this agreement and any other Related Documents. 

  

	 	8.11.	 Recovery of Additional Costs. If the imposition of or any change in any Legal Requirement, or the interpretation or application of any thereof
by any court or administrative or governmental authority (including any request or policy not having the force of law) shall impose, modify, or make applicable any taxes (except federal, state, or local income or franchise taxes imposed on the
Bank), reserve requirements, capital adequacy requirements, Federal Deposit Insurance Corporation (FDIC) deposit insurance premiums or assessments, or other obligations which would (A) increase the cost to the Bank for extending, maintaining or
funding the Credit Facilities, (B) reduce the amounts payable to the Bank under the Credit Facilities, or (C) reduce the rate of return on the 

 

 -18- 

	 	 
Bank’s capital as a consequence of the Bank’s obligations with respect to the Credit Facilities, then the Borrower agrees to pay the Bank such additional amounts as will compensate the
Bank therefor, within five (5) days after the Bank’s written demand for such payment. The Bank’s demand shall be accompanied by an explanation of such imposition or charge and a calculation in reasonable detail of the additional
amounts payable by the Borrower, which explanation and calculations shall be conclusive in the absence of manifest error. Nothing herein shall be deemed to preclude the Borrower from contesting such amounts on the basis of manifest error.

  

	 	8.12.	[intentionally omitted] 

  

	 	8.13.	Reinstatement. The Borrower agrees that to the extent any payment or transfer is received by the Bank in connection with the Liabilities, and all or any part of
the payment or transfer is subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be repaid or transferred by the Bank or paid or transferred over to a trustee, receiver or any other entity, whether under any
proceeding or otherwise (any of those payments or transfers is hereinafter referred to as a “Preferential Payment”), then this agreement and the Notes shall continue to be effective or shall be reinstated, as the case may be, even if all
those Liabilities have been paid in full and whether or not the Bank is in possession of the Notes and whether any of the Notes has been marked, paid, released or cancelled, or returned to the Borrower and, to the extent of the payment, repayment or
other transfer by the Bank, the Liabilities or part intended to be satisfied by the Preferential Payment shall be revived and continued in full force and effect as if the Preferential Payment had not been made. The obligations of the Borrower under
this section shall survive the termination of this agreement. 

  

	 	8.14.	Information Waiver; Assignments. The Borrower agrees that the Bank may provide, without any limitation whatsoever, to any one or more purchasers, potential
purchasers, or Affiliates of JPMorgan Chase & Co., any information or knowledge the Bank may have about the Borrower or any matter relating to this agreement and the Related Documents, and the Borrower hereby waives any right to privacy the
Borrower may have with respect to such matters. The Borrower agrees that the Bank may at any time sell, assign or transfer one or more interests or participations in all or any part of its rights and obligations in the Notes and the other Related
Documents to one or more purchasers whether or not related to the Bank. 

  

	 	8.15.	 Waivers. Each Obligor waives (a) any right to receive notice of the following matters before the Bank enforces any of its rights:
(i) any demand, diligence, presentment, dishonor and protest, or (ii) any action that the Bank takes regarding any Person, any Property or any of the Liabilities, that it might be entitled to by law or under any other agreement;
(b) any right to require the Bank to proceed against the Borrower, any other Obligor or any Property, or pursue any remedy in the Bank’s power to pursue; (c) any defense based on any claim that any Obligor’s obligations exceed or
are more burdensome than those of the Borrower; (d) the benefit of any statute of limitations affecting liability of any Obligor or the enforcement hereof; (e) any defense arising by reason of any disability or other defense of the
Borrower or by reason of the cessation from any cause whatsoever (other than payment in full) of the obligation of the Borrower for the Liabilities; and (f) any defense based on or arising out of any defense that the Borrower may have to the
payment or performance of the Liabilities or any portion thereof. Each Obligor consents to any extension or postponement of time of its payment without limit as to the number or period, to any substitution, exchange or release of all or

  

 -19- 

	 	 
any part of any collateral for any of the Liabilities that the Bank may have at any time, to the addition of any other party, and to the release or discharge of, or suspension of any rights and
remedies against, any Obligor. The Bank may waive or delay enforcing any of its rights without losing them. Any waiver affects only the specific terms and time period stated in the waiver. No modification or waiver of any provision of the Notes is
effective unless it is in writing and signed by the Person against whom it is being enforced. 

  

	 	8.16.	Time is of the Essence. Time is of the essence under this agreement and the Notes and in the performance of every term, covenant and obligation contained herein.

  

	 	8.17.	Purpose. The Borrower agrees that no advances under the Credit Facilities shall be used for personal, family or household purposes and that all advances under
the Credit Facilities shall be used solely for business, commercial or similar purposes. 

  

	9.	USA PATRIOT ACT NOTIFICATION. The following notification is provided to the Borrower pursuant to Section 326 of the USA Patriot Act of 2001, 31 U.S.C.
Section 5318: 

  

	 	IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT. To help the government fight the funding of terrorism and money laundering activities, Federal law
requires all financial institutions to obtain, verify, and record information that identifies each Person that opens an account, including any deposit account, treasury management account, loan, other extension of credit, or other financial services
product. What this means for the Borrower: When the Borrower opens an account, if it is an individual the Bank will ask for its name, taxpayer identification number, residential address, date of birth, and other information that will allow the Bank
to identify it, and, if it is not an individual the Bank will ask for its name, taxpayer identification number, business address, and other information that will allow the Bank to identify it. The Bank may also ask, if the Borrower is an individual,
to see its driver’s license or other identifying documents, and if it is not an individual, to see its Organizational Documents or other identifying documents. 

 

	10.	WAIVER OF SPECIAL DAMAGES. THE BORROWER WAIVES, TO THE MAXIMUM EXTENT NOT PROHIBITED BY LAW, ANY RIGHT THE UNDERSIGNED MAY HAVE TO CLAIM OR RECOVER FROM THE BANK
IN ANY LEGAL ACTION OR PROCEEDING ANY SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES. 

  

	11.	JURY WAIVER. THE BORROWER AND THE BANK (BY ITS ACCEPTANCE HEREOF) HEREBY VOLUNTARILY, KNOWINGLY, IRREVOCABLY AND UNCONDITIONALLY WAIVE ANY RIGHT TO HAVE A JURY
PARTICIPATE IN RESOLVING ANY DISPUTE (WHETHER BASED ON CONTRACT, TORT, OR OTHERWISE) BETWEEN THE BORROWER AND THE BANK ARISING OUT OF OR IN ANY WAY RELATED TO THIS AGREEMENT OR ANY OF THE OTHER RELATED DOCUMENTS. THIS PROVISION IS A MATERIAL
INDUCEMENT TO THE BANK TO PROVIDE THE FINANCING DESCRIBED HEREIN. 

  

 -20- 

									
	Address for Notices:	 		 	Borrower:
			
	620 Lesher Place	 		 	NEOGEN CORPORATION
	 Lansing, Michigan 48912
 Attn:
Chief Financial Office
	 		 	By:	 	 /s/ Richard R. Current

		 		 		 	Richard R. Current, Vice President, CFO, and Secretary
				
		 		 	Date Signed:	 	 May 20, 2010

 

									
	Address for Notices:	 		 	Bank:
			
	 620 S. Capitol Ave., Flr. 3

Lansing, Michigan 48933
	 		 	JPMORGAN CHASE BANK, N.A.
				
		 		 	By:	 	 /s/ Joshua M. Tudor

		 		 		 	Joshua M. Tudor, Vice President
				
		 		 	Date Signed:	 	 May 20, 2010

 

 -21-Stock Purchase Agreement

 Exhibit 10.13 

Stock Purchase Agreement 

This Stock Purchase Agreement (“Agreement”) is made as of March 31, 2010 among (i) Neogen
Corporation, a Michigan corporation whose address is 620 Lesher Place, Lansing, Michigan 48912 (“Buyer”), (ii) GeneSeek, Inc., a Nebraska corporation whose address is 4665 Innovation Drive, Lincoln, Nebraska
68521 (“Company”), and (iii) the shareholders of the Company listed on attached Exhibit A (collectively, “Sellers”, and individually, a “Seller”).

 Recitals 

A. Sellers own the number of shares opposite their names on Exhibit A, the aggregate number of which shares is all of the
Company’s issued and outstanding shares. The aggregate Company shares owned by all Sellers is referred to as the “Sellers’ Shares”. The number of Company shares owned by a Seller listed on Exhibit A is
referred to as the “Seller’s Shares”. Each share of the Company’s stock outstanding is referred to as a “Share”. 

B. Company is engaged in the business of genomic research, testing and analysis related to food, agriculture and veterinary applications
including but not limited to genotyping, SNP discovery and DNA sequence analysis, and services associated with providing these analyses (collectively, “Business”). 

C. Buyer desires to purchase, and Sellers desires to sell, the Sellers’ Shares upon the terms, conditions and covenants contained in
this Agreement. 
 The parties agree as follows: 

1. Purchase and Sale. Based upon the representations, warranties and agreements contained in this Agreement and subject to the
terms and conditions set forth in this Agreement, at the Closing Date, as defined in Section 3, Sellers agree to sell, transfer and deliver to Buyer, and Buyer shall purchase and accept from Sellers, the Shares. 

2. Purchase Price; Method of Payment. Sellers agree to sell the Shares, and Buyer to purchase the Shares, for the total
consideration provided in this Section 2, subject to all limitations and adjustments provided in this Agreement, which total consideration shall be paid pro rata to the Sellers based on their share ownership as provided in this Section
(“Price”). 
 (a) Cash Price. Buyer shall pay Sellers, in proportion to their relative stock
holdings as listed on Exhibit A, Twelve Million Five Hundred Forty Five Thousand Three Hundred Four and XX/100 Dollars ($12,545,304) in immediately available funds to Sellers at Closing (“Cash Price”), subject to adjustment
as provided in this Agreement. 

 (b) Adjustment of Cash Price. The Cash Price payable at Closing shall be adjusted as
follows: 
 (1) Not less than two business days prior to the Closing Date, Seller will prepare and deliver a certificate
(“Net Assets Certificate”) containing Seller’s best estimate, as of the Closing Date, of the Company’s estimated total assets (“Estimated Closing Total Assets”) and the Company’s
estimated total liabilities (“Estimated Closing Total Liabilities”). The Estimated Closing Total Assets and Estimated Total Liabilities shall be determined in accordance with GAAP (as defined in Section 4.(c)(3))
consistent with the Company’s past practices; provided (i) no tax refunds in excess of income taxes payable shall be included in the calculation; (ii) there shall be no tax refund, credit or reduction in Taxes forming part of the
Total Assets or Total Liabilities (as these terms are defined in the next sentence), as applicable, or the Final Closing Total Assets or Final Closing Total Liabilities (as these terms are defined in Section 13) attributable to any payments
pursuant to the Option Grantee Documents (as defined in Section 6.(c)); and (iii) Sellers shall be entitled to treat $101,665, associated with the Nebraska Advantage, as a part of the Total Assets and Final Total Assets. Total assets and
total liabilities of the Company determined pursuant to this Section 2.(b)(1) are referred to as “Total Assets” and “Total Liabilities”, respectively. Representatives from Seller and Buyer shall
jointly take a physical inventory on or about the Closing Date using a mutually acceptable procedure from which the estimated Inventories (as defined in Section 4.(h)) as of Closing Date shall be calculated and using such counts the final
Inventories shall be computed. 
 (2) On the Closing Date, the Cash Price shall be adjusted by the amount (“Closing
Purchase Price Adjustment Amount”) which shall equal the Estimated Closing Total Assets minus the Estimated Closing Total Liabilities. If the Closing Purchase Price Adjustment Amount is greater than Eight Hundred Forty Five Thousand
Dollars ($845,000) (“Target Net Assets”), then the Cash Price payable at Closing shall be increased dollar for dollar by 90.9% of the Closing Purchase Price Adjustment Amount in excess of the Target Net Assets. If the Closing
Purchase Price Adjustment Amount is less than the Target Net Assets, then the Cash Price payable at Closing shall be decreased dollar for dollar by 90.9% of the deficiency compared to the Target Net Assets. 

(3) After the Closing Date and pursuant to the procedure set forth and as defined in Section 12, the Cash Price shall be adjusted
by the amount (“Post-Closing Purchase Price Adjustment Amount”) which shall equal the Final Closing Net Assets Value minus the Closing Purchase Price Adjustment Amount. If the Post-Closing Purchase Price Adjustment Amount is
a positive number, then the Cash Price shall be increased by the Applicable Percentage (as defined in Section 2.(d)(8)) times the Post-Closing Purchase Price Adjustment Amount (“Upward Adjusted Post-Closing Purchase Price Adjustment
Amount”) and Buyer shall immediately (and in any event within five business days) after the final determination thereof pay to Sellers the Upward Adjusted Post-Closing Purchase Price Adjustment Amount by wire transfer

 
of immediately available funds to an account designated in writing by Sellers. If the Post-Closing Purchase Price Adjustment Amount is a negative number, then the Cash Price shall be decreased by
the Applicable Percentage times the Post-Closing Purchase Price Adjustment Amount (“Downward Adjusted Post-Closing Purchase Price Adjustment Amount”) and Sellers shall immediately (and in any event within five business days)
after the final determination thereof pay to Buyer the Downward Adjusted Post-Closing Purchase Price Adjustment Amount by wire transfer of immediately available funds to an account designated in writing by Buyer. The party that owes the other any
amount pursuant to this Section 2.(b)(3) agrees to pay that party interest at the prime rate published in the Wall Street Journal plus 6% between the date on which the amount was due and the date on which the amount due is paid in full.

 (c) Contingent Price. Buyer shall pay Sellers the following amounts (“Contingent Price”)
within 30 days of the end of applicable Counting Year (as defined in Section 2.(d)(1)) and provide Sellers with a statement showing the computation by which the amount payable was determined: 

(1) The Applicable Percentage times 50% of the excess, if any, of the sum of the Gross Profit (as defined in Section 2.(d)(2))
minus Applicable Depreciation (as defined in Section 2.(d)(5)) minus the Base (as defined in Section 2.(d)(6)) for the first Counting Year (as defined in Section 2.(d)(1)) after the Closing Date; provided in no event shall the amount
payable by Buyer (i) pursuant to Section 2.(a), (b) and (c)(1) exceed the Cap (as defined in Section 2.(d)(7)); and (ii) unless the Principal Shareholders are employed by or consultants to the Company in an active management
role during the entire first Counting Year; provided further the requirement of Section 2.(c)(1)(ii) shall not be applicable if (A) either of the Principal Shareholders’ employment or consultancy is terminated during the first
Counting Year by Buyer for reasons other than Cause (as defined in Section 2.(d)(9)); (B) either of the Principal Shareholders dies (and the remaining Principal Shareholder remains employed or consulting as applicable unless he too dies or
is Disabled during the first Counting Year); or (C) either of the Principal Shareholders is Disabled (as defined in Section 2.(d)(10)) (and the remaining Principal Shareholder remains employed or consulting as applicable unless he too dies
or is Disabled during the Counting Year). 
 (2) The Applicable Percentage times 50% of the excess, if any, of the sum of the
Gross Profit minus Applicable Depreciation minus the Base for the second Counting Year after the Closing Date; provided in no event shall the amount payable by Buyer (i) pursuant to Section 2.(a), (b), (c)(1) and (c)(2) exceed the Cap; and
(ii) unless the Principal Shareholders are employed by or consultants to the Company in an active management role during the entire second Counting Year; provided further the requirement of Section 2.(c)(2)(ii) shall not be applicable if
(A) either of the Principal Shareholders’ employment or consultancy is terminated by Buyer during the second Counting Year for reasons other than Cause; (B) either of the Principal Shareholders dies (and the remaining Principal
Shareholder remains employed or consulting as applicable unless he too dies or is Disabled during the second Counting Year); or (C) either of the Principal Shareholders is Disabled (and the remaining Principal Shareholder remains employed or
consulting as applicable unless he too dies or is Disabled during the second Counting Year). 

 (3) The Applicable Percentage times 50% of the excess, if any, of the sum of the Gross
Profit minus Applicable Depreciation minus the Base for the third Counting Year after the Closing Date; provided in no event shall the amount payable by Buyer (i) pursuant to Section 2.(c)(3) exceed One Million Five Hundred Thousand
Dollars ($1,500,000); (ii) pursuant to Section 2.(a), (b), (c)(1), (c)(2) and (c)(3) exceed the Cap; and (iii) unless the Principal Shareholders are employed by or consultants to the Company in an active management role during the
entire third Counting Year; provided further the requirement of Section 2.(c)(3)(ii) shall not be applicable if (A) either of the Principal Shareholders’ employment or consultancy is terminated by Buyer during the second Counting Year
for reasons other than Cause; (B) either of the Principal Shareholders dies (and the remaining Principal Shareholder remains employed or consulting as applicable unless he too dies or is Disabled during the third Counting Year); or
(C) either of the Principal Shareholders is Disabled (and the remaining Principal Shareholder remains employed or consulting as applicable unless he too dies or is disabled during the third Counting Year). 

(d) Definitions. The following terms are defined as follows: 

(1) The term “Counting Year” shall mean each full 12 month period after the Closing for the
period April 1st to
March 31st. 

(2) The term “Gross Profit” shall mean the Net Sales (as defined in Section 2(d)(3)) minus Cost of Goods
Sold (as defined in Section 2.(d)(4)) with the computation of Gross Profit and Cost of Goods Sold made in accordance with GAAP consistent with Company’s past accounting practices. 

(3) The term “Net Sales” shall mean, with respect to all products and services sold by the Company, the total
gross invoices for such items less (i) trade, quantity or cash discounts actually allowed and taken, (ii) freight costs, customs duties, use, tariff, import/export duties, excise taxes and sales taxes, if any, related to the sale of such
items, and (iii) amounts allowed by reason of rejections and reasonable allowances for return of goods. 
 (4) The term
“Cost of Goods Sold” shall mean, with respect to all products and services sold by the Company, the invoice cost of raw material (exclusive of freight, special handling insurance charges, and applicable sales/use tax) and
labor and fringe benefit cost determined in the same manner as to the Company’s 2009 costs of goods sold. The wages, payroll taxes, simple IRA and health and dental insurance for the Principal Shareholders, Keller, Dronova and Martin are
excluded from 2009 costs of goods sold. Any new employees hired in a Counting Year under the job title as Laboratory Technician, Laboratory Assistant, Laboratory Manager, or Diagnostics Laboratory Technician will be included in the definition
of Costs of Goods Sold. All other new employees hired in a Counting Year will be excluded from the 

 
definition of Costs of Goods Sold unless there is a written agreement between the Sellers and Buyer to include other positions. Cost of Goods Sold will be determined according to the definition
contained in this Section 2.(d)(4) in determining the Contingent Price regardless of how cost of goods sold is computed by Buyer for financial reporting or other purposes. 

(5) The term “Applicable Depreciation” shall mean the Company’s depreciation for financial statement
purposes during the Counting Year consisting of the depreciation of (i) depreciable assets reflected in the Company’s books at Closing; (ii) assets relating to the Contribution as provide in Section 9; and (iii) other
capital investments. 
 (6) The term “Base” shall mean Three Million and XX/100 Dollars ($3,000,000).

 (7) The term “Cap” shall mean Nineteen Million Ninety One Thousand One Hundred and XX/100 Dollars
($19,091,100). 
 (8) The term “Applicable Percentage” shall mean either (i) 90.91% if all the
Option Grantees (as defined in Section 4.(a)(5)) are employed by Buyer on the last day of the applicable Counting Year (“Employed Option Grantees”); or (ii) the percentage determined by a fraction, the numerator of
which is Sellers’ Shares and the denominator of which is the sum of the (A) the Sellers’ Shares; plus (B) the sum of the Option Shares of each of the Employed Option Grantees (as defined in Exhibit 4.(d)(5)). 

(9) The term “Cause” shall mean (i) conviction of or a judgment against by either of the Principal
Shareholders for an employment related offense of dishonesty and fraud; (ii) material breach of the terms and conditions of Buyer’s work rules; (iii) failure of either of the Principal Shareholders to reasonably perform their assigned
duties (after the Principal Shareholder has been given notice of the deficiency and afforded ten days opportunity to cure); (iv) gross negligence or willful or wanton misconduct; or (v) commission of a crime that might adversely affect the
business or reputation of the Company or its affiliates or a Principal Shareholder’s suitability or acceptability to the employees, suppliers or customers of the Company or its affiliates. 

(10) The term “Disability” or “Disabled” shall mean a Principal Shareholder’s
inability to perform his normal duties for a six month continuous period. 
 (e) Sellers Review of Calculation. Sellers
who owned at least 80% of the Company’s stock prior to Closing, as a group, may ascertain compliance with Buyer’s obligations under Section 2.(c) by notifying Buyer in writing within thirty days after receipt of Buyer’s
notification under Section 2.(c) of Sellers’ desire to verify such information. Within twenty business days from such notification, Buyer shall provide to Sellers or as the case may be, to Sellers’ representative, such books and
records, possibly in an electronic form, as may be reasonably required to verify such information. Receipt of such copies 

 
shall not preclude Sellers from the right to perform a more extensive audit at Buyer’s office during normal business hours to verify further such information. Buyer shall allow such audit to
be performed so that it can be completed within thirty days after the date on which Sellers notified Buyer that it desired to verify such information. 

(1) If Sellers disagree with Buyer’s calculations under Section 2.(c), they shall notify Buyer within thirty days from the
date on which Sellers notified Buyer that it desired to verify such information (“Sellers’ Contingent Price Objections”). 

(2) If Buyer disagrees with Sellers’ Contingent Price Objections, it shall notify Sellers and the parties shall attempt to resolve
the disagreement. If Buyer fails to so notify Sellers in writing within thirty days of the Sellers’ Contingent Price Objections, then Buyer shall be deemed to have accepted the findings set forth in the Sellers’ Contingent Price Objections
and Buyer shall have waived all claims to the contrary. If the parties fail to agree on the Sellers’ Contingent Price Objections, Buyer shall pay the undisputed portion of Sellers’ Contingent Price Objections within 75 days after the end
of the applicable Counting Year and the remainder of such disagreement shall be resolved in accordance with the principles set forth in Section 12. 

(3) Each such audit shall be at Sellers’ expense; provided, that if it is finally determined Buyer has breached its payment
obligation by an amount in excess of $50,000 under Section 2.(c), then Buyer shall pay the reasonable costs of such audit. 

(4) If Buyer agrees with Sellers’ Contingent Price Objections or the findings of the audit has been confirmed under
Section 12, Buyer shall pay within ten business days the due amount pursuant to Section 2.(c). 
 (f) Seller
Releases. In consideration for payment of the Price, as of and following the Closing Date, each Seller (on each Seller’s own behalf and on behalf of each Seller’s heirs, personal representatives, officers, directors, successors and
assigns, as applicable) knowingly, voluntarily and unconditionally releases, forever discharges, and covenants not to sue Buyer or the Company, their respective predecessors, successors, parents, subsidiaries and affiliates, and all of their
respective current and former officers, directors, employees, agents, and representatives from and for any and all claims, causes of action, demands, suits, debts, obligations, liabilities, damages, losses, costs, and expenses (including
attorneys’ fees) of every kind or nature whatsoever, known or unknown, actual or potential, suspected or unsuspected, fixed or contingent, that each Seller has or may have, now or in the future, arising out of, relating to, or resulting from
any act of commission or omission, errors, negligence, strict liability, breach of contract, tort, violations of law, matter or cause whatsoever from the beginning of time to the Closing Date, with respect to the Company, to the extent permitted by
law except to the extent arising under the transaction contemplated by the Agreement; provided each Seller who is an officer or director shall remain entitled to indemnification by the Company for all claims as to which they would have been so
entitled prior to Closing for actions or inaction within the scope of Seller’s duties. 

 (g) Buyer Restrictions. Buyer agrees that, until the determination of the Contingent
Price and the passage of the Counting Years, Buyer shall conduct the Business in a commercially reasonable manner and shall (i) not dissolve or liquidate the Company; (ii) not make any transfers of assets or liabilities outside the
ordinary course of business which would have the result of negatively impacting the Contingent Price; (iii) not charge the Company with any of Buyer’s expenses in connection with this transaction; (iv) not delay receipt of Net Sales,
or accelerate Costs of Goods Sold, to a period outside the Counting Year; or (v) not change the business solely for the purpose of reducing the Contingent Price. Buyer agrees that (I) any changes made to the Company’s accounting
methods which are inconsistent with those used by the Company before Closing shall be disregarded in calculating the Contingent Price; and (ii) any transactions between the Company and its affiliates shall be at arm’s length. 

(h) Buyer Sale of Business Assets. In the event Buyer or Company consummates or enters into an agreement regarding a sale of all
or substantially all of the Business assets at any time prior to the final determination of the aggregate Contingent Price, Buyer shall, as part of such sale, require the purchaser to fulfill the terms of this Agreement. 

3. The Closing. The closing of the purchase and sale of the Shares as provided in this Agreement shall be no later than
March 31, 2010 at the offices of Buyer, or at such other place as may be fixed by mutual agreement of Buyer and Sellers. The date and event of closing are respectively referred to in this Agreement as the “Closing Date”
and “Closing.” The Closing shall be deemed to occur at 5:00 p.m. EST on the Closing Date, with Buyer responsible for income and expenses of Company properly recorded after 5:00 pm EST on the Closing Date. At the Closing:

 (a) Each Seller shall deliver to Buyer stock certificates representing all of the Shares owned by that Seller, accompanied by
stock powers, duly endorsed to Buyer or other duly executed instruments of transfer approved by Buyer and the certificates and other items required by Section 6; and 

(b) Buyer shall deliver to each Seller that Seller’s portion of the Price payable at Closing as provided in Section 2,
certificates and other items required by Section 7. 
 4. Representations and Warranties of Sellers. In order to
induce Buyer to enter into this Agreement, each of the Sellers makes the following representations and warranties to Buyer: 

(a) Organization and Qualification, Subsidiaries and Ownership. 

(1) The Company is validly existing and in good standing under the laws of Nebraska. No failure on the part of Company to be qualified
as a foreign corporation in any jurisdiction materially and adversely affects the Business or financial position or results of the operation of the properties of Company by reason of 

 
any disability affecting its right to own property, collect receivables, enforce contracts or otherwise. Company has the requisite corporate power and authority to own or hold under lease or
similar agreement all of its properties and to carry on the Business as it is now being conducted. Company is duly qualified to do business and is in good standing as a foreign corporation in the state and jurisdiction as a foreign corporation is
required in connection with the conduct of its business, a true and complete list of which is set forth on Exhibit 4.(a)(1). Company has previously delivered to Buyer complete and correct copies of Company’s Articles of
Incorporation and Bylaws and all amendments to them and all organizational documents of the Subsidiary. Company has delivered to Buyer a complete and accurate copy of the Company minute book from 1996 through 2010 in which there is accurate records
of all meetings, and consents in lieu of meetings, of the Company’s board of directors and shareholders held or executed since the incorporation of Company,. The stock books and ledgers of Company have been delivered to Buyer for its
inspection, and such books and records are accurate and complete. No preferred shares of the Company are or were issued and outstanding. 

(2) Company has no subsidiaries or other divisions or operations and neither owns nor has a right or obligation to acquire any equity
interest (or option) of any other entity. Company neither participates nor has an interest in any joint venture or similar agreement. 

(3) The Shares constitute all of the issued and outstanding shares of capital stock of, and other voting, equity or other ownership
interest in, Company. Other than the Sellers, no person or entity is or will be entitled to receive any payment from Buyer with respect to the transfer of the Shares to Buyer. The authorized capital stock of the Company is 100,000 shares of voting
common stock of which 22,727 are issued and outstanding. All Shares have been validly authorized and issued, are fully paid and non-assessable and have not been issued in violation of any preemptive right or of any securities laws. Other than the
2009 Non-Qualified Stock Option Plan, adopted on November 23, 2009 (“GeneSeek Option Plan”), there is no security, option, warrant, right, call, subscription, agreement, commitment or understanding of any nature
whatsoever, fixed or contingent, that directly or indirectly (i) calls for the issuance, sale, pledge, or other disposition of any shares of Company stock or any securities convertible into, or other rights to acquire, any Company shares;
(ii) obligates Company or any other entity to grant, offer or enter into any of the forgoing; or (iii) relates to the voting or control of any such capital stock, securities or rights. 

(4) Each Seller owns of record and beneficially the Seller’s Shares. Each Seller has, and shall transfer to Buyer at Closing, good,
valid and marketable title to the Seller’s Shares free and clear of any security interest, pledge, lien, charge, claim, option, equity, right, proxy, voting or other agreement, restriction on transfer or encumbrance of any nature. 

(5) Company has provided Buyer with a true copy of the GeneSeek Option Plan. The GeneSeek Option Plan has been or will be terminated as
of the Closing Date. Attached Exhibit A sets forth the names of all persons to whom 

 
grants were made by the Company pursuant to the GeneSeek Option Plan (“Option Grantees”) and the number of shares each of the Option Grantees received an option to
purchase (“Option Shares”). The Option Shares were granted to the Option Grantees in conformity with the GeneSeek Option Plan. The fair market value of each share of the Company’s stock on the date of adoption of the
GeneSeek Option Plan was Three Hundred Sixty Seven Dollars ($367). Each of the Option Grantees and the Company entered into a Nonstatutory Stock Option Agreement (collectively, “Option Agreements”), true copies of which have
been provided to Buyer. None of the Option Grantees exercised their rights to purchase the Option Shares and no Company shares have been or are required to be issued pursuant to the Option Agreements. 

(6) The Company has a registered office located at c/o Dr. Glenn Crocker, Biocity Nottingham Ltd., Pennyfoot Street, Nottingham NG1
1GF, United Kingdom (“UK Office”). The Company, through the UK office (i) has not engaged in any business activities, (ii) has never had and does not now have any assets located at the UK Office; (iii) has
never had and does not now have any employees at the UK Office; and (iv) has no liabilities associated with the UK Office. 

(b) No Violation. Except as disclosed in Exhibit 4.(b), the execution and delivery of this Agreement by the Company
and the consummation of the transactions contemplated by it will not violate any provision of law, order, or regulation of any governmental authority applicable to Company or the corporate charter or by-laws of Company or constitute a default under
any judgment, order or decree of any court of governmental agency or instrumentality, or conflict or constitute a breach or a default under any agreement to which Company is a party or by which it is bound. The execution and delivery of this
Agreement by each Seller and the consummation of the transactions contemplated by it will not violate any provision of law, order, or regulation of any governmental authority applicable to such Seller or constitute a default under any judgment,
order or decree of any court of governmental agency or instrumentality, or conflict or constitute a breach or a default under any agreement to which such Seller is a party or by which such Seller is bound. 

(c) Financial Information. Company has provided in Exhibit 4.(c) Company’s (i) unaudited balance sheet and
profit and loss statement and cash flows as of and for the period ended December 31, 2009 and 2008 (“Unaudited Financial Statements”); and (ii) interim financial statements as of and for the period ended
February 28, 2010 (“Interim Financial Statements”) (collectively, “Financial Statements”) all in reasonable detail. The Financial Statements: 

(1) Have been prepared in accordance with the books of accounts and records of Company. 

(2) Fairly present and are, in all material respects, fair, complete and correct statements of Company’s financial position, the
results of its operations, changes in stockholder’s equity and cash flows of Company as of and for the periods specified in the Financial Statements. 

 (3) Except as set forth on Exhibit 4.(c)(3), have been prepared in accordance with
generally accepted accounting principles (“GAAP”) consistently applied. 
 (4) Do not include or omit
to state any fact that renders them misleading in a material respect. 
 (5) Make full and adequate disclosure of all
Company’s obligations and liabilities (fixed or contingent, known or unknown) as of the dates thereof. 
 (6) Do not
contain any items of special or non-recurring income or expenses except as expressly stated in the Financial Statements. 
 (d)
Title to Assets. 
 (1) Exhibit 4.(d)(1)i is a list of all of Company’s non-real estate assets used
in the Business categorized in the following groups: machinery and equipment, receivables, inventories, intangible property and other (collectively, “Assets”). Company owns and has corporate power to own, and has good and
marketable title to the Assets free and clear of liens, security interests, mortgages, pledges, claims or encumbrances of any kind whatsoever, except as shown in Exhibit 4.(d)(1)(ii). Company has delivered to Buyer
true and complete copies of all written leases, contracts, agreements, options, purchase orders, instruments and commitments relating to Company or the Business and written summaries of all oral contracts binding on Company, as evidenced in
Exhibit 4.(d)(1)(iii) (collectively, “Contracts”). All Contracts are legally valid and binding and in full force and effect, and there are no defaults or breaches by Company or counterclaims or defenses
against it. Company has received no notice of any default, breach, counterclaim or offset by any other party to any of the Contracts, nor do Company or Sellers have any knowledge thereof. All Contracts will continue in full force and effect on the
same terms as currently exists, notwithstanding the consummation of the sale contemplated by this Agreement. 
 (2)
Exhibit 4.(d)(2) contains a complete and correct description of all real property, including buildings and other real property improvements, leased by Company (“Leased Property”). Company has the exclusive use
of the Leased Property. There are no latent defects or conditions with respect to the Leased Property. All the buildings and structures included in the Leased Property currently have (A) all necessary or appropriate occupancy certificates and
all other occupancy or other permits for the use for which they are or are intended to be used, (B) public roads or valid easements over private streets or private property for such ingress to and egress from all such plants, buildings and
structures and (C) water supply, storm and sanitary sewer facilities, telephone, gas and electrical connections, fire protection, drainage and other public utilities, as are necessary for the conduct of the Business as it is presently
conducted. The current use of the Leased Property complies with all applicable zoning ordinances, building codes, health and safety laws and other laws and regulations. Company does not now and never has owned any real estate. 

 (3) Company has a valid leasehold interest as to all Leased Property. Company has provided
Buyer with a true and complete copy of the lease for the Leased Property (“Lease”). The Lease is legally valid and binding and in full force and effect, and there are no defaults or breaches by Company or counterclaims or
defenses against it. Company has received no notice of any default, breach, counterclaim or offset by the landlord of the Leased Property, nor do Company or Primary Stockholder have any knowledge thereof. The Lease will continue in full force and
effect on the same terms as currently exists, notwithstanding the consummation of the sale contemplated by this Agreement. The Lease has not been modified since it was entered into initially. 

(4) There are no assets owned by the Company other than those that are used in the Business. The Company owns all assets necessary to
carry on the Business after the Closing in substantially the same way as the Company conducted the Business during the past five years (including but not limited to machinery and equipment, furniture and fixtures, product formulations, assay
methods, validation data, trade secrets, patents, trademarks, licenses, computer hardware and software, telephone and facsimile numbers, URLs, website, domain names, registrations, customer lists, customer records, salesmen’s report, marketing
studies, payroll records and manufacturing records). All registrations, customer lists, customer records, salesmen’s reports, marketing studies, payroll records and manufacturing records related to the Business are located the Company’s
main office. 
 (e) Condition of Assets. Except as disclosed in Exhibit 4.(e), all properties utilized in
the Business conform in all material respects with all health and safety rules and other rules and regulations. All properties utilized in the Business, including all their components and parts, are ready for operation, and, taking into account
their ages, are in normal operating condition and good order and repair. There are no conditions or events, except for normal wear and tear, proper use and the age of the properties, which would prevent their continued normal operation or would
otherwise materially and adversely affect their operation or use by Buyer after the Closing as currently used by Company. 
 (f)
Intellectual Property. Company owns, or is licensed to use, or otherwise has the right to use all patents, trademarks, service marks, trade names, trade secrets, franchises, and copyrights, and all applications for any of the foregoing, and
all technology, know-how and processes necessary for the conduct of the Business as now conducted (collectively, “Proprietary Rights”). With respect to Company’s Proprietary Rights: 

(1) All license arrangements relating in any manner to any of the Proprietary Rights (whether or not in writing) are set forth on
Exhibit 4.(f)(1). Except as disclosed in Exhibit 4.(f)(1), Company is in compliance with and is not in default under any of such license agreements, and all other parties to any of such license agreements are in full
compliance with and are not in default under any of the license agreements. 

 (2) Exhibit 4.(f)(2) sets forth a complete list of all patents, trademarks,
service marks, and copyrights used by Company in the conduct of the Business that are currently registered in any jurisdiction, and Company has good and marketable title to all such assets free and clear of all liens, charges and encumbrances
(except for such license agreements listed in Exhibit 4.(f)(1) and all filing or maintenance fees that are required to maintain such registrations that are due and payable as of the date of this Agreement have been paid and all
associated maintenance filings have been made. 
 (3) Exhibit 4.(f)(3) sets forth a complete list of all
unregistered trademarks, service marks, and trade names used by Company in the conduct of the Business, and Company has good and marketable title to all such assets free and clear of all liens, charges and encumbrances (except for such license
agreements listed in Exhibit 4.(f)(1)). 
 (4) For each trademark, service mark, copyright or trade name listed
in Exhibits 4.(f)(2) and 4.(f)(3), Exhibit 4.(f)(4) sets forth the dates of first use and the geographic territory of use for each trademark, service mark, or trade name, and the Company and Primary
Stockholder represent that such marks and trade names have been in continuous use in their respective territories since the listed dates of first use. 

(5) Exhibit 4.(f)(5) sets forth a complete list of all software that the Company has had written or developed by any
person or entity not an employee of Company, lists the current owner of the copyright interest in such software, and if Company is the current owner, lists the date of the written assignment of the copyright interest to Company. 

(6) Company, except as disclosed in Exhibit 4.(f)(6), has not infringed, misappropriated, or otherwise used in an
unauthorized manner the proprietary rights (including but not limited to the patent, trade secret, trademark, trade dress, or copyright rights) of any third party. 

(7) Company has not granted or committed to grant any rights in Company’s Proprietary Rights of any nature whatsoever to any third
party except as disclosed in Exhibit 4.(f)(7). 
 (8) Except as disclosed in Exhibit 4.(f)(8), no
claim has been asserted by any person or entity (i) to the effect that any action by Company infringes on the intangible or intellectual property rights of any other person or entity; or (ii) that challenges or questions the right of
Company to use any of the Proprietary Rights being used by it; or (iii) which asserts the right of any third party to use such Proprietary Rights. 

 (9) Except as disclosed on Exhibit 4.(f)(9), there is no basis for any claim
against Company that any of its operations, activities, products, or publications infringes on any patent, trademark, service mark, trade name, copyright, or other proprietary right of a third party, or that it is illegally or in any unauthorized
manner using the trade secrets or any proprietary rights of others. 
 (10) To Sellers’ knowledge, no person or entity is
infringing upon or has misappropriated any of Company’s Proprietary Rights. No person or entity other than Company has any right to use any Proprietary Rights. 

(g) Receivables. All accounts receivable arise from the sale of products or the provision of services solely with respect to the
Business in the ordinary course of business determined in accordance with GAAP (“Receivables”). The Receivables are collectible, without resort to litigation or extraordinary collection activity within 90 days, and are
subject to no defenses, setoffs or counterclaims other than normal cash discounts in the ordinary course of business. 
 (h)
Inventories. Subject to the last sentence, the inventories including, but not limited to, merchandise, materials, component parts, manufacturing and packaging supplies, raw materials, work in process and finished goods, relating to the
Business on hand as of the Closing Date are determined in accordance with GAAP on the actual cost basis of accounting consistently applied (“Inventories”). The Inventories, in the aggregate, are usable and saleable in the
ordinary course of the Business and have a remaining shelf life of more than 90 days. No Inventories have been consigned to others. The parties agree (i) Inventories shall exclude all expired items; and (ii) any Inventories that have a
remaining shelf life of less than or equal to 90 days but are actually used during the 60 day period immediately following the Closing shall be included as an asset in the post Closing adjustment pursuant to Section 12. 

(i) Contracts. Exhibit 4.(d)(1)(iii) describes all Contracts to which Company is a party or to which it is bound and
which arose out of, or relate to, the Business that extend beyond the Closing Date. Company has delivered true and correct copies of all such documents evidencing the Contracts to Buyer. All Contracts shall remain vested with Company without change
or the occurrence of any default following the consummation of the transactions contemplated by this Agreement, except as described on Exhibit 4.(d)(1)(iv). 

(j) Litigation. Except as disclosed in Exhibit 4.(j), there are no actions, suits, proceedings or investigations
pending or to Sellers’ knowledge threatened against Company at law or in equity, or before any federal, state or municipal or other governmental department, commission, board, agency or instrumentality, domestic or foreign, which involves a
demand for any judgment or liability and which could materially affect the Business or the transactions contemplated by this Agreement. The matters disclosed in Exhibit 4.(j) against the Company are baseless and will not result in any payments by or
restrictions on the Company. 

 
Company is not in default with respect to any order, writ, injunction or decree of any court of federal, state, or municipal or other governmental department, commission, board, agency or
instrumentality, domestic or foreign, and that there are no such orders, decrees, injunctions or regulations issued specifically against Company which may affect, limit or control the method or manner of the Business or any transactions contemplated
by this Agreement. 
 (k) Compliance with Law. Company has complied in all material respects with all applicable laws,
orders and regulations of any federal, state or municipal or other governmental department, commission, board, agency or instrumentality, domestic or foreign, having jurisdiction, including, but not limited to, laws, orders and regulations thereof
relating to antitrust, employment, terms and conditions of employment, occupational safety, wage, hours, collective bargaining, environmental protection, employee safety, or legislation pertaining to illegal bribes or kickbacks. 

(l) Taxes. Without regard as to which party is responsible for preparation of Tax Returns (as defined in Section 4.(l)(18)),
Sellers warrant and represent as follows: 
 (1) Other than those Taxes specifically listed in Exhibit 4.(l)(1),
each of the Company and the Subsidiary has duly and timely filed all required Tax Returns with foreign, federal, state and local taxing authorities with respect to Taxes for which Company or the Subsidiary may be liable which are due and required to
be filed by any applicable tax law. All taxes, interest and penalties owed (whether or not shown on the Tax Returns) have been paid. There is no tax audit or examination now pending or to Sellers’ knowledge threatened with respect to the
Business. 
 (2) As of the Closing Date, Company and the Subsidiary did not have any liability for Taxes due and payable of any
sort other than Taxes for which full provision has been made in the Interim Financial Statements. 
 (3) Neither Company nor
the Subsidiary has waived any statute of limitations in respect of any Taxes or agreed to any extension of time with respect to any Tax assessment or deficiency. Neither the Company nor the Subsidiary has filed for any extension of time within which
to file any Returns. 
 (4) No Company property subject to a tax benefit transfer lease subject to the provisions of former
Section 168(f)(8) of the Internal Revenue Code of 1986, as amended (“Code”), and no Company property is “tax-exempt use property” within the meaning of Section 168(h) of the Code. 

(5) Neither the Company nor the Subsidiary is a party to any tax sharing, tax allocation, or tax indemnity agreement which would require
it to make any payment to any other person by reason of any tax imposed on any such person. Company will not be liable for the taxes of any person as a “transferee” within the meaning of Section 6901 of the Code.

 (6) No Seller is a foreign person subject to withholding under Section 1445 of the
Code and the regulations promulgated thereunder, and certification to that effect will be delivered to Buyer at the Closing, except as otherwise set forth on Exhibit 4.(l)(6). 

(7) Company has complied in all material respects with all applicable laws, rules and regulations relating to information reporting with
respect to payments made to third parties and the withholding of and payment of withheld taxes and has timely withheld from employee wages and other payments and paid over to the proper taxing authorities all amounts required to be so withheld and
paid over for all periods under all applicable laws. 
 (8) There are no pending audits, judicial proceedings, or assessments
or deficiencies asserted with respect to taxes of Company or Subsidiary. There is no pending claim by any taxing authority in any jurisdiction in which Company or the Company does not pay taxes or file Returns that Company or Subsidiary is required
to pay taxes or file Returns. 
 (9) Company has not made an election under Section 341(f) of the Code or agreed to have
Code Section 341(f)(2) (and corresponding state, local and foreign tax law provisions) apply to the disposition of any asset owned by it. Company has not been a personal holding company under Section 542 of the Code and has not
participated in an international boycott within the meaning of Section 999 of the Code. 
 (10) Company has not agreed nor
is required to make any adjustment under Section 481(a) or 263(A) of the Code or any comparable provision of state, local or foreign tax laws for any reason. 

(11) Company has made no payments, is not obligated to make any payments, and is not a party to any agreement that under any
circumstances could obligate it to make any payments that will not be deductible under Section 280G of the Code. Section 409A of the Code does not apply to any payments made to the Company’s employees before Closing or payable to
Company’s employees after Closing based on agreements that existed prior to Closing. 
 (12) The Company is in compliance
with all material transfer pricing requirements in all jurisdictions in which they do business. All compensation and other payments to employees, officers, and any other party (related or unrelated to Sellers) are on an arm’s length basis. All
intercompany loans are on an arm’s length basis. 
 (13) The Company has no liability for any taxes of any entity (other
than the Company) under Treasury Regulation 1.1502-6 (or any corresponding provision of state, local or foreign income tax law), as transferee or successor, by contract or otherwise. 

 (14) The Company is not a party to any joint venture, partnership, or other arrangement or
contract that could be treated as a partnership for federal income tax purposes. 
 (15) Except as set forth in Exhibit
4.(l)(15), (i) neither the Company nor the Subsidiary has been a party to any transaction that presents a material risk of being recharacterized by any taxing authority or any other entity entitled to collect compulsory payments in a way that
could result in the imposition of any additional penalties, additions to tax, or like charges; and (ii) all documents that are subject to registrations have been duly and timely registered and the related taxes have been duly and timely paid.

 (16) The compensation payable to each of the Option Grantees (including but not limited to the Option Grantee Documents (as
defined in Section 6.(c)) is reasonable compensation fully deductible under the Code by Company to the extent paid prior to Closing and will be fully deductible under the Code by Company to the extent paid after Closing. 

(17) The term “Tax” or “Taxes” means any tax imposed of any nature, including federal, state,
local or foreign net income tax, alternative or add-on minimum tax, profits or excess profits tax, franchise tax, gross income, adjusted gross income or gross receipts tax, employment related tax (including employee withholding or employer payroll
tax or FICA or social security or payroll), real or personal property tax or ad valorem tax, sales or use tax, excise tax, stamp tax, any withholding or backup withholding tax, unemployment tax, license tax, windfall profits tax, environmental tax,
estimated tax, abandoned property tax, custom duties, capital stock tax, disability tax, value added tax, severance tax, prohibited transaction tax, premiums tax, occupation tax, together with any interest, penalty, or addition to the tax or
additional amount imposed by any Governmental Entity responsible for the imposition of such tax. 
 (18) The term “Tax
Return” means any return, declaration, report or similar statement required to be filed with respect to any Taxes (including any schedules or other attachments), including any information return, claim or refund, declaration of estimated
Tax, or report or statement relating to Taxes, and any amendment to any of the foregoing. 
 (m) No Adverse Changes.
Since December 31, 2009 (“Reference Date”), there has been no material adverse change in the condition, financial or otherwise, of Company or in the Business other than changes (not in the aggregate either material or
adverse) occurring in the ordinary course of business. 
 (n) Warranties and Product Liability. Company has previously
delivered to Buyer true, correct and complete copies of all outstanding standard product 

 
warranties and guaranties given by Company with respect to the Business and true, correct and complete copies of all other product warranties and guaranties now in effect with respect to products
manufactured or sold by Company. Except as fully described in Exhibit 4.(n), there are no pending, or to the Company’s knowledge, threatened claims or actions against the Company for breach of warranty or based upon product
liability (whether based on tort or contract principles). 
 (o) Contingent and Undisclosed Liabilities. Except as to the
Permitted Liabilities (as defined in the next sentence), Company has no debts, obligations or liabilities, whether known or unknown, fixed or contingent, of any nature whatsoever, relating to the Business not disclosed in writing to Buyer. The term
“Permitted Liabilities” shall mean those liabilities expressly disclosed in the Interim Financial Statements, the Lease and the unfulfilled portion of all customer purchase orders. Company knows of no basis for assertion of
any claim against the Company or Buyer for any liability relating to the Business except those disclosed in Exhibit 4.(o) or those of a similar type and amount as reflected in the Permitted Liabilities and incurred in the ordinary
course of business between the date of the Interim Financial Statements and the Closing Date. 
 (p) Performance of
Contracts. Except as disclosed in Exhibit 4.(p), Company is not in default, nor has it breached any provision of, any contract, agreement, lease, obligation, license or permit (including the Contracts) with regard to all agreements
relating to the Business to which it is a party or by which it is bound. Except as disclosed in Exhibit 4.(p), Company has fully performed each material term, condition and covenant of each such contract, agreement, lease, obligation,
license or permit required to be performed on or prior to the date of this Agreement (including the Contracts). Except as disclosed in Exhibit 4.(p), Company knows of no state of facts which, with or without the giving of notice or the
passage of time, or both, would give rise to any default or revocation. Except as disclosed in Exhibit 4.(p), Company is neither subject to any penalty, discount or liquidated damages due to the delayed delivery of products, goods or
services of the Business, nor has it received any notice that any of the Business’s customer relations are in jeopardy because of such late deliveries or otherwise 

(q) Events Subsequent to Reference Date. Except as disclosed in Exhibit 4.(q), Company has not since the Reference
Date: 
 (1) Incurred Liabilities. Incurred any obligation or liability (absolute, contingent, accrued or otherwise) or
guaranteed or become a surety of any debt, except in connection with the performance of this Agreement or in the ordinary course of business; 

(2) Discharged Debt. Discharged or satisfied any lien or encumbrance, pertaining to the Business, or paid or satisfied any
obligation or liability (absolute, contingent, accrued or otherwise) other than (i) liabilities shown on Company’s accounting records on Reference Date or (ii) liabilities incurred since the Reference Date in the ordinary course of
business; 

 (3) Encumbrances. Mortgaged, pledged or subjected to any lien, charge, security
interest or other encumbrance any of the properties utilized in the Business, outside the ordinary course of business; 
 (4)
Disposition of Assets. Sold or transferred any of the properties utilized in the Business, or canceled any debts or claims or waived any rights, except in the ordinary course of business or as part of the transfer of assets in anticipation of
the sale of the Shares, outside the ordinary course of business; 
 (5) Sale of Business. Entered into any contract for
the sale of the Business, or any part thereof, or for the purchase of another business, whether by merger, consolidation, exchange of capital stock or otherwise (other than negotiations with respect to this Agreement); 

(6) Accounting Procedure. Changed or modified the accounting methods or practices relating to the Business including but not
limited to acceleration of sales into a pre-Closing period or the delay in recognition of expenses into a post-Closing period; 

(7) Capital Expenditure. Purchased or made a commitment for the purchase of capital assets for use or employment in the Business,
in excess of $5,000; 
 (8) Compensation and Fringe Benefits. Increased or promised to increase the wages or fringe
benefits of employees or independent contractors; 
 (9) Dividends. Paid any dividends to Sellers, except as permitted
hereunder; 
 (10) Other Payments. No payments to shareholders or others outside the ordinary course of business
consistent with past practice except as permitted hereunder; or 
 (11) Bank. Borrowed any money from a bank or
financial institution. 
 (r) Customer Relations. Except as disclosed on Exhibit 4(r) Company knows of no
state of facts, nor have any communications been made to it, which would indicate that (i) any current customer of Company which accounted for more than 5% of Company’s sales relative to the Business for the most recent fiscal year ending,
or (ii) any current supplier of Company (if such supplier could not be replaced by Company at comparable cost), will terminate its business relations with Company. 

 (s) Brokerage and Selling Expenses. The Company has made a commitment for a brokerage
fee in connection with the transactions contemplated by this Agreement. Except as noted in the preceding sentence, Company (i) has not made a commitment for a brokerage fee in connection with the transactions contemplated by this Agreement, and
(ii) will not pay any brokerage fee, legal fees, accounting fees or other expenses related to the sale of all or substantially all of Company’s assets or the Shares (collectively, “Selling Expenses”). Sellers agree
to repay the Company any Selling Expenses paid by it related to the transactions contemplated by this Agreement. 
 (t) Books
and Records. The books and accounts of Company and Subsidiary relating to the Business are true, complete and correct in all material respects and fully and fairly reflect all of the transactions entered into by or on behalf of Company or
Subsidiary, as applicable, to which it is a party or by which it is affected. 
 (u) Transactions with Insiders. There
are no agreements between Company, Subsidiary and Sellers, other than employment agreements disclosed in Section 4.(x) and the Lease. 

(v) Binding Effect. The Agreement and all related documents have been duly executed, made and delivered by the Company and
constitute legal, valid and binding obligation of the Company, enforceable against it in accordance with their respective terms, subject to the laws of equity and laws of general application affecting creditors’ rights. The Agreement and all
related documents have been duly executed, made and delivered by each Seller, and constitute legal, valid and binding obligation of each Seller enforceable against each Seller in accordance with their respective terms, subject to the laws of equity
and of general application affecting creditors’ rights. 
 (w) Authorization. The transactions contemplated by this
Agreement have been duly authorized by the Board of Directors of the Company and each Seller that is an entity and on the Closing Date all of the necessary corporate action to authorize the consummation of this Agreement will have been taken. Each
Seller has the power and authority to enter into this Agreement and all documents related to the transactions contemplated by the Agreement. 

(x) Employee Relations. Exhibit 4.(x) sets forth a list of all of the officers, employees and agents of Company as
of the Reference Date and, for each individual, indicates his or her position, salary or wage rate and respective fringe benefits and any other remuneration paid or payable. Except as disclosed on Exhibit 4.(x): 

(1) There is not now in existence or pending, nor has there been within the last three years, any grievance, arbitration, administrative
hearing, claim of unfair labor practice, wrongful discharge, employment discrimination or sexual harassment or other employment dispute of any nature pending or, to the Company and Sellers’ knowledge, threatened against Company. 

 (2) Company has no collective bargaining agreements and is not a party to any written or
oral, express or implied, other contract, agreement or arrangement with any labor union or any other similar arrangement that is not terminable at will by Company without cost, liability or penalty. 

(3) Company is not a party to any written or oral contract, agreement or arrangement with any of its present or former directors,
officers, employees or agents with respect to length, duration or conditions of employment (or the termination thereof), salaries, bonuses, percentage compensation, deferred compensation or any other form of remuneration, or with respect to any
matter not disclosed on Exhibit 4.(x)(4). 
 (4) There is no pending claim or, to the best of Company and the
Sellers’ knowledge, threatened or existing but unasserted claim, against Company for violation of any contract, agreement or arrangement described in Exhibit 4.(x)(4), nor to the best of Company’s knowledge, is there any
factual basis upon which such a claim could be asserted. 
 (5) Upon termination of the employment of any of the Company’s
employees prior to Closing, Buyer shall not incur any liability except as listed on Exhibit 4.(x)(4); provided the Company has no obligation to pay any employee any amount on the purchase or sale of the Shares arising out of the items
disclosed in Exhibit 4.(x)(4). 
 (y) Employee Benefit Plans. 

(1) Exhibit 4.(y)(1) sets forth all “employee welfare benefit plans”, “employee pension
benefit plans” and “multi-employer plans” within the respective meanings of Sections 3(1) and 3(2) and 3(37) of the Employment Retirement Income Security Act of 1974, as amended (“ERISA”),
all incentive compensation plans, benefit plans for retired employees and all other employee benefit plans maintained by Company, or to which Company has made payments or contributions on behalf of its employees since 1974, including, without
limitation, all plans or contracts providing for bonuses, pensions, profit-sharing, stock options, stock purchase rights, deferred compensation, insurance and retirement benefits of any nature, whether formal or informal and whether legally binding
or not (each such plan is referred to individually as a “Plan”, collectively as the “Plans”). 

(2) Except for any multi-employer plans, all Plans covered by the Code and ERISA are, and during all applicable limitation periods have
been, in compliance with the Code and ERISA, and all retirement or pension Plans and welfare benefit plans are qualified plans under the Code and each Plan is in compliance with the applicable provisions of the Code. 

 (3) There has been no transaction in connection with which Company or any of its directors,
agents, officers, or employees could be subject to either a civil penalty assessed pursuant to Section 502(i) of ERISA or a tax imposed by Section 4975 of the Code or any similar provision of foreign law. 

(4) No Plan that is a qualified plan under Section 401(a) of the Code and no trust created thereunder has been terminated,
partially terminated, curtailed, discontinued or merged into another plan or trust, except in compliance with notice and disclosure to the Internal Revenue Service (“IRS”), the Department of Labor and the Pension Benefit
Guaranty Corporation (“PBGC”); and any such termination, partial termination, curtailment, discontinuance or merger has been accompanied by the issuance of a current favorable determination letter by the IRS and, where
applicable, has been accompanied by plan termination proceedings with and through the PBGC. 
 (5) There are no payments that
have become due from any Plan, the trusts created thereunder, or from Company that have not been paid through normal administrative procedures to the Plan participants or beneficiaries entitled thereto. 

(6) Company has made full and timely payment of all required and discretionary contributions to the Plans, and no unfunded liability
exists with respect to any Plan. 
 (7) There has been no “reportable event” as defined in
Section 4043 of ERISA with respect to any Plan or any trust created thereunder. 
 (8) None of the Plans are a
“defined benefit plan” within the meaning of Section 3(35) of ERISA and none is subject to Title IV of ERISA. 

(9) Neither Company nor any of its directors, officers, employees, or agents has any outstanding liabilities of any nature to the PBGC,
the IRS, or the Department of Labor in any way relating to the Plans, and all annual returns required to be filed with respect to the Plans have been timely filed. 

(10) Company is not a party to or otherwise subject to any express or implied agreement or plan to provide health coverage or other
benefits to retired or current employees except as set forth in Exhibit 4.(y)(10). 
 (11) Company is not a party
to or otherwise subject to any express or implied agreement or plan to provide any employee benefits, wages, deferred compensation, or any other form of benefit or remuneration beyond the date of Closing, except as listed in Exhibit
4.(y)(11). 
 (12) With respect to all “covered employees” as defined in
Section 4980B(f)(7) of the Code and Section 607(2) of ERISA and “qualified  

 
beneficiaries” as defined in Section 4980B(g)(1) of the Code and Section 607(3) of ERISA as of the Closing Date, Company has complied with all applicable health care
continuation requirements under the Code, ERISA and current and proposed Federal Regulations. Company agrees to use its best efforts expeditiously to provide Buyer with all information that Buyer deems necessary to determine whether there have been
any failures to comply with the continuation health care requirements of Section 4980B of the Code and Sections 601 through 609 of ERISA as such requirements have applied to any group health plan maintained by or for Company which failure
occurred with respect to any covered employee or qualified beneficiary on or prior to the Closing Date. Company further agrees to use its best efforts expeditiously to provide to Buyer all information that Buyer deems necessary to correct any
failures to comply with such continuation health care coverage requirements. Attached as Exhibit 4(y)(12) is a schedule containing the following information regarding each covered employee and qualified beneficiary (excluding all
employees who will become covered employees by virtue of termination of their employment contemplated by this Agreement) : (i) the identification of all covered employees and qualified beneficiaries, (ii) the identification of all
qualifying events, including the qualifying date, with respect to such covered employees or qualified beneficiaries (as defined in Section 4980B(f)(3) of the Code, (iii) the payment schedule for all covered employees and qualified
beneficiaries currently receiving continuation health care coverage, (iv) the date the Notice of Right to Elect Continuation Coverage was provided to the covered employee and qualified beneficiaries, and (v) the date the Continuation
Election Form was provided to Company by the covered employee or qualified beneficiary if continuation coverage was elected. For purposes of this provision, references to the Code and ERISA shall include references to any provisions of such statutes
as they may be amended from time to time. 
 (z) Environmental Matters. Except as disclosed on Exhibit
4.(z): 
 (1) Company has never conducted or operated any business from any location other than the Premises (as
defined below). 
 (2) Company and the Premises comply in all material respects with all applicable Environmental Laws.

 (3) No Hazardous Substances have been or are currently generated, stored, transported, utilized, disposed of, managed,
released or located on, under or from the Premises or any other parcel of real estate (collectively, “Company Properties”) (whether or not in reportable quantities) by Company or its agents or invitees, or in any manner
introduced onto the Company Properties by Company or its agents or invitees, including, without limitation, the septic, sewage or other waste disposal systems serving the Premises and all Hazardous Substances disclosed on Exhibit 4.(z)
have been generated, stored, transported, utilized, disposed of, managed, released or located on, under or from the Company Properties only in accordance with all applicable Environmental Laws. 

 (4) Sellers and Company have no knowledge of any threat of Release of any Hazardous
Substances on, under or from the Premises. There is no threat of Release of any Hazardous Substances which Company or any of its agents or invitees generated, stored, transported, utilized, disposed of, managed or owned. 

(5) Company has no liability for response or corrective action, natural resource damage, or other harm pursuant to any Environmental
Laws; Company is not subject to, has no notice or knowledge of, and is not required to give any notice of any Environmental Claim involving Company or the Company Properties; there are no conditions or occurrences at the Company Properties which
could form the basis for an Environmental Claim against the Company. 
 (6) Company has not received any notice from the United
States Environmental Protection Agency or any other Governmental Authority claiming that (i) the Company Properties or any use thereof violates any of the Environmental Laws, or (ii) Company or any of its employees or agents have violated
any of the Environmental Laws. 
 (7) Company has not incurred any liability to the State of Nebraska, the United States of
America or any other Governmental Authority under any of the Environmental Laws. 
 (8) The Company Properties are not subject
to any, and Company and Sellers have no knowledge of any imminent, restriction on the ownership, occupancy, use, or transferability of the Premises in connection with any (i) Environmental Laws or (ii) Release, threatened Release, or
disposal of Hazardous Substances. 
 (9) To Company’s knowledge, the Premises do not contain and have not contained any:
(i) underground storage tanks, (ii) any amount of asbestos-containing building material, (iii) any landfills or dumps, (iv) Hazardous Substances resulting in its classification as a hazardous waste management facility as defined
pursuant to RCRA or any comparable state law, or (v) Hazardous Substances resulting in its classification as a site on or nominated for the National Priority List promulgated pursuant to CERCLA or any state remedial priority list promulgated or
published pursuant to any comparable state law. 
 (10) There are no Environmental Enforcement Actions pending or, to the best
of Company’s knowledge, threatened. 
 (11) There are no conditions or circumstances at or migrating from the Premises
which pose a risk to the environment or the health or safety of persons. 
 (12) There are no environmental reports,
investigations and audits relating to the Company Properties (whether conducted by or on behalf of 

 
Company and Sellers or a third party, and whether done at the initiative of Company and Sellers or directed by a governmental or other third party) (collectively,
“Reports”). A true, complete and accurate copy of each of the Reports has been provided to Buyer. 

(13) The following definitions apply to this paragraph. 

(A) “CERCLA” shall mean the Comprehensive Environmental Response Compensation, and Liability Act of 1980, as
amended by the Superfund Amendments and Reauthorizations Act of 1986, 42 USC 9601 et seq., and future amendments; 
 (B)
“Environmental Claim” shall mean any investigation, notice, violation, demand, allegation, action, suit, injunction, judgment, order, consent decree, penalty, fine, lien, proceeding, or claim (whether administrative,
judicial, or private in nature) arising (i) pursuant to, or in connection with, an actual or alleged violation of, any Environmental Laws, (ii) in connection with any Hazardous Substances, (iii) from any abatement, removal, remedial,
corrective, or other response action in connection with Hazardous Substances, Environmental Laws or other order of a Governmental Authority or (iv) from any actual alleged damage, injury, threat, or harm to health, safety, natural resources, or
the environment; 
 (C) “Environmental Enforcement Actions” means actions or orders instituted,
threatened, required or completed by any Governmental Authority and all claims made or threatened by any person against Company with respect to the Premises arising out of or in connection with any of the Environmental Laws or the assessment,
monitoring, clean-up, containment, re-mediation or removal of, or damages caused or alleged to be caused by, any Hazardous Substances (i) located on or under the Premises, (ii) emanating from the Premises or (iii) generated, stored,
transported, utilized, disposed of, managed or released by Company on, under or from the Premises; 
 (D)
“Environmental Laws” means federal, state and local laws, statutes, ordinances, rules, regulations, codes, orders, judgments, orders and the like applicable to (i) environmental conditions on, under or emanating from the
Premises including, but not limited to, (I) laws of Nebraska; and the associated rules and regulations promulgated in connection with any of these laws, and (II) laws of the federal government commonly known as CERCLA, RCRA, the Toxic Substance
Control Act, as amended, the Federal Water Pollution Control Act, as amended, and the Federal Clean Air Act; and the associated rules and regulations promulgated in connection with any of these laws; and (ii) the generation, storage,
transportation, utilization, disposal, management or release of Hazardous Substances by Company (whether or not on, under or from the Premises) or Company (on, under or from the Premises); 

(E) “Governmental Authority” means agencies, authorities, bodies, boards, commissions, courts,
instrumentalities, legislatures and offices of any nature whatsoever for any government unit or political subdivision, whether federal, state, county, district, municipal, city or otherwise, and whether now or later in existence; 

 (F) “Hazardous Substances” shall mean, collectively,
(i) any “hazardous material,” “hazardous substance,” “hazardous waste,” “oil,” “regulated substance,” “toxic
substance,” “restricted hazardous waste,” “special waste” or words of similar import as defined under any of the Environmental Laws; (ii) asbestos in any form; (iii) urea
formaldehyde foam insulation; (iv) polychlorinated biphenyls; (v) radon gas; (vi) flammable explosives; (vii) radioactive materials; (viii) any chemical, contaminant, solvent, material, pollutant or substance that may be
dangerous or detrimental to the environment or the health and safety of occupants of the Premises or of the owners or occupants of any other real property nearby the Premises, and (iv) any substance, the generation, storage, transportation,
utilization, disposal, management, Release or location of which on, under or from the Premises is prohibited or otherwise regulated pursuant to any of the Environmental Laws; 

(G) “Premises” shall mean all locations listed on Exhibit 4.(z)(13)(G).

 (H) “RCRA” shall mean the Solid Waste Disposal Act, as amended by the Resource Conservation and
Recovery Act of 1976 and Hazardous and Solid Waste Amendments of 1984, 42 USC 6901 et seq., and any future amendments; and 

(I) “Release” shall mean any spilling, leaking, pumping, pouring, emitting, emptying, discharging, injecting,
escaping, leaching, dumping, or disposing into the indoor or outdoor environment, including, without limitation, the abandonment or discarding of barrels, drums, containers, tanks, and other receptacles containing or previously containing any
Hazardous Substances. 
 (aa) Bank Accounts. Attached as Exhibit 4.(aa) is a complete and accurate list of
all banks, brokerage firm or other financial intermediaries or institutions in which Company has an account or safety deposit box (collectively, “Accounts”) and the names of all individuals authorized to draw on these
Accounts, have access to the Accounts or otherwise give instructions regarding the Accounts. 
 (bb) Insurance.
Exhibit 4.(bb) lists all policies of liability, property damage, fire, workers’ compensation/employer’s liability, title or other forms of insurance owned or carried by Company (“Policies”) and
insurance agents or brokers providing such insurance coverage. Company has received no notice from any insurance carrier regarding the possible cancellation of or premium increase with respect to the Policies. Company has no claim pending or
anticipated against any of the insurance carriers under any of the Policies and there has been no actual or alleged occurrence of any kind that may give rise to any such claim. 

 (cc) Permits and Licenses. Attached Exhibit 4.(cc)-1 is a complete and
accurate list of all licenses, permits, authorizations and approvals required by any Governmental Entities (as defined below) (collectively, “Licenses”) as are necessary to own, lease or operate Company’s Business. All
of the Licenses are valid and in full force and effect. Except as disclosed in Exhibit 4.(cc)-2, Company is in compliance in all material respects with all obligations under all Licenses, and no event has occurred that allows, or after
notice or lapse of time would allow, revocation or termination of any Licenses. The execution, delivery or performance of this Agreement and the consummation of the transactions contemplated by it will not require or permit (with or without notice
or lapse of time, or both), and no event has occurred and is continuing which requires or permits, or after notice or lapse of time or both would require or permit, any modification or termination of any Licenses. No Licenses would have to be
obtained, secured or made by Buyer or Company (except for normal renewals of existing Licenses) to enable Company to operate the Business after the Closing in a manner which is consistent with that in which it is presently conducted. Company has not
received any notice that any Licenses will not be renewed in the ordinary course without the imposition of additional materially adverse conditions (except as may be caused by or related to actions of Buyer after Closing). The term
“Governmental Entities” shall mean any federal, state, local, foreign or supranational court, commission, governmental body, regulatory agency, authority or tribunal. Company has not received any notice asserting
noncompliance with any applicable law, rule or regulation which if enforced would have a material adverse effect on the Business. No Governmental Entities have indicated any intention to initiate any investigation, inquiry or review involving
Company, any Plans or any of Company’s rights or properties. 
 (dd) Termination of Employees. Company has
terminated all of its employees effective no later than immediately before Closing. All payments due Option Grantees pursuant to the Option Grantee Documents shall have been paid prior to Closing. All other liabilities associated with termination of
the employees are identified on attached Exhibit 4.(dd) and will have been paid by Company prior to Closing or will be accrued and be part of the Final Closing Total Liabilities (as defined in Section 12(e)). 

(ee) Representations and Warranties True and Correct. The representations and warranties contained in this Agreement, and all
statements or information disclosed by any of the Exhibits, do not include any untrue statement of a material fact nor omit to state a material fact required to be stated herein or therein or necessary in order to make the statements herein or
therein, in light of the circumstances under which they are made, not misleading. 
 5. Representations and Warranties of
Buyer. In order to induce Sellers to enter into this Agreement, Buyer makes the following representations and warranties: 

(a) Organization. Buyer is, and on the Closing Date shall be, a corporation validly existing and in good standing under the laws
of the State of Michigan. 

 (b) Authorization. The execution and delivery of this Agreement and the transactions
contemplated by it have been duly authorized by the Board of Directors of Buyer and on the Closing Date all of the necessary corporate action to authorize the execution and delivery of this Agreement will have been taken. 

(c) No Violation. The execution and delivery of this Agreement by the Buyer and the consummation of the transactions contemplated
by it will not violate any law, order or regulation of any governmental authority, or corporate charter or bylaws of Buyer or constitute a default under any judgment, order or decree of any court or governmental agency or instrumentality, or
conflict with or constitute a breach or default under any agreement to which Buyer is a party or by which it is bound. 
 (d)
Brokerage. Buyer has not made a commitment for a brokerage, finders or similar fees in connection with the transactions contemplated by this Agreement. 

(e) Binding Effect. The Agreement and all related documents have been duly executed, made and delivered by Buyer and constitute
legal, valid and binding obligations of Buyer enforceable against Buyer in accordance with their respective terms, subject to the laws of general application affecting creditors’ rights. 

(f) Purchase For Investment. Buyer is acquiring the Shares for its own account for investment purposes and not with a view to
distribution or resale. 
 (g) Representations and Warranties True and Correct. The representations and warranties
contained in this Agreement do not include any untrue statement or material fact nor omit to state a material fact required to be stated herein or therein or necessary in order to make the statements herein or therein, in light of the circumstances
under which they are made, not misleading. 

	(h)	Financing. Buyer has sufficient funds available to satisfy its obligations hereunder. 

6. Conditions of Buyer’s Obligation To Close. The obligations of Buyer pursuant to this Agreement are subject to the
following conditions having been met, or waived in writing by Buyer, at or prior to the Closing Date: 
 (a) Representations
and Warranties. The representations and warranties made by Sellers contained in this Agreement and in any exhibit, document or instrument delivered by any of them pursuant to this Agreement shall be true and correct in all material respects on
and as of the Closing Date. 
 (b) Approvals and Consents. All necessary approvals and consents with respect to the
transactions contemplated by this Agreement, the absence of which would have a material adverse effect on Buyer’s rights under this Agreement, or which 

 
would result in the forfeiture or breach of any material rights pursuant to the provision of any material contract or agreement of Buyer or Company, or without which the Company would be
precluded or materially impeded from conducting the Business, shall have been received. 
 (c) Delivery of Instruments of
Conveyance of the Shares. Each Seller shall have delivered to Buyer, satisfactory to Buyer in form and substance, (i) conveyancing documents to transfer title to the Seller’s Shares to Buyer; and (ii) each of the Option Grantees
shall have entered in to a Stock Option Termination Agreement and a Bonus Agreement. (collectively, “Option Grantee Documents”). 

(d) No Litigation. No investigation, suit, action or other proceedings shall be threatened or pending before any court or
governmental agency in which it is sought to restrain, prohibit or obtain damages or other relief in connection with this Agreement or the consummation of the transactions contemplated by the Agreement. 

(e) No Adverse Change. There shall have been no change or development related to the Business, the Shares, results of operations
or in the condition, financial or otherwise, of the Business or Company, which has had or would have a material adverse effect on the condition, financial or otherwise, of the operation of the Business or ownership of the Shares. 

(f) Retention of Certain Employees. Buyer is able to enter into satisfactory employment or consulting agreements with key
employees (including but not limited to Abraham Oommen (“Oommen”) and Daniel H. Pomp (“Pomp”) (individually referred to as “Principal Shareholder” and collectively referred to
as “Principal Shareholders”) that include, among other provisions, compensation, fringe benefits, non-compete, non-solicitation of employees and confidentiality. 

(g) Acquisition of All Shares. All Sellers shall have entered into this Agreement and delivered the Shares at Closing. 

(h) Termination of GeneSeek Option Plan. The GeneSeek Option Plan shall have been terminated all Option Grantees shall have
executed the Option Grantee Documents. 
 7. Conditions to Sellers’ Obligation to Close. The obligations of each
Seller pursuant to this Agreement are subject to the following conditions having been met, or waived in writing by Sellers, at or prior to the Closing Date: 

(a) Representations and Warranties. The representations and warranties of Buyer in this Agreement and in any exhibit, document or
instrument delivered by Buyer pursuant to this Agreement in all shall be correct in all material respects on and as of the Closing Date. 

 (b) Payment of Price. Buyer shall have delivered to Sellers the cash portion of the
Price as provided in Section 2. 
 (c) No Litigation. No investigation, suit, action or other proceedings shall be
threatened or pending before any court or governmental agency in which it is sought to restrain, prohibit or obtain damages or other relief in connection with this Agreement or the consummation of the transactions contemplated by this Agreement.

 (d) Related Documents. The Option Grantee Documents are executed at or prior to Closing. 

(e) Employment Agreements. The Principal Shareholders shall have entered into employment agreements with Buyer or the Company on
terms satisfactory to them. 
 8. Survival of Representations and Indemnification. 

(a) Survival of Representations. Buyer and Sellers agree that all representations, warranties and covenants of Sellers, Principal
Shareholders, the Company and Buyer (“Representations”) shall survive the execution, delivery of this Agreement, any investigation made by Buyer and the Closing and the Closing Date. The Representations given in
(i) Sections 4.(a), (b), (d) and (f), (v) and (w) and in Sections 5.(a), (b), (c) and (e) and Section 9.(a)(2) shall continue indefinitely; (ii) Sections 4(i), (j), (k), (l), (n), (o), (s), (x), (y), (z), (cc)
and (ee) to the extent that it relates to one or more of the preceding items and Sections 5.(d) and (f) shall continue until three months after the expiration of the applicable statute of limitation; and (iii) all others shall expire upon
the second anniversary of the Closing Date. 
 (b) Indemnification by Sellers. Subject to the limitations set forth in
Section 8.(f), each Seller agrees, severally, to indemnify and hold Buyer harmless from and against any and all Damages (as defined in Section 8.(d)) incurred by Buyer or which Buyer may sustain at any time arising out of or by reason of
the following, to the extent not taken into account in determining the Post-Closing Purchase Price Adjustment Amount or to the extent the item constitutes a Permitted Liability: 

(1) The inaccuracy or breach of any of the Representations made by the Seller or the Company in or pursuant to this Agreement (in each
case without giving effect to any disclosure of matters contained in the Exhibits and without giving effect to any materiality qualification); 

(2) Any failure by any Seller to perform any obligation or comply with any covenant or agreement of such Seller specified in this
Agreement or in any other document executed at Closing; 
 (3) Any claim (i) for wages or fringe benefits made by any
employee of Company with respect to the period ending immediately preceding the Closing Date; (ii) for severance payments or other liabilities with respect to the termination of any employees of Company; or (iii) with respect to the injury
or death of any such employee arising out of events occurring prior to the Closing Date; 

 (4) Any claim (including, without limitation, claims alleging death or injury to persons or
damage to property), whether based in tort, contract or otherwise resulting from or caused by any product sold, or service provided, by Company prior to the Closing Date; 

(5) Any Company debt, obligation or liability, whether known or unknown, fixed or contingent, of any nature whatsoever before the
Closing Date, including but not limited to all Taxes and environmental liabilities of any nature, other than Permitted Liabilities; 

(6) Any of the matters disclosed on any of the Exhibits; 

(7) Any liability or obligation arising out of (A) the conduct of any trade, business or transactions by Company prior to the
Closing, (B) the termination of employment of any employee by Company on or prior to the Closing, (C) any Benefit Plan; or (D) the ownership, lease, use, occupation or operation of any facility or property at any time owned, leased,
used, occupied or operated by Company; 
 (8) Any liability of the Company under Treasury Regulation Section 1.1502-6
promulgated by the Department of Treasury (“Treasury Regulation”) or any under any comparable or similar provision under state, local or foreign tax laws or regulations for any period ending on or before the Closing Date;

 (9) Any Tax, interest or penalty payable by the Company or Buyer after Closing arising out of any transactions related to
the termination of the GeneSeek Option Plan (including but not limited to Code Section 409A) other than as a result of improper actions or omissions by Buyer after Closing; 

(10) Any Taxes associated with all transactions occurring in all tax years ending on or before the Closing Date in excess of the
provision for income taxes included in the determination of Final Closing Total Liabilities (as defined in Section 12.(e)). 

Any claim that an item breaches more than one provision of Section 8.(b) shall be deemed to fall into the preceding category that
has the longest survival period. 
 Sellers agree that they shall not have any claim or right of indemnification or contribution
or any other right of recourse against Company with respect to Damages. Sellers waive and release any and all such claims and right. Sellers agree that the indemnities set forth in clauses (3) – (10) above shall not be affected by
disclosures which relate thereto and are contained in the Exhibits. 

 (c) Indemnification by Buyer. Buyer agrees to defend, indemnify and hold harmless
Sellers from and against any Damages incurred by reason of any breach of any representation, warranty or covenant of Buyer. Buyer agrees to cause Company to defend, indemnify and hold harmless Sellers from and against any Damages incurred by reason
of (i) any liabilities arising from the operation or conduct of Company subsequent to the Closing Date; (ii) any product manufactured by or any services provided by Company subsequent to the Closing Date; and (iii) any failure by
Buyer to perform any obligation or comply with any covenant or agreement of Buyer specified in this Agreement or in any other document executed at Closing. 

(d) Damages. An Indemnified Party (as defined in Section 8.(e)(1)) shall be entitled to recover the full amount of any
liabilities, losses, debts, obligations, monetary damages, fines, fees, penalties, deficiencies, expenses (including amounts paid in settlement, interest obligations, court costs, the reasonable costs of investigators, the reasonable fees and
expenses of attorneys, accountants, financial advisors or other experts, and other reasonable expenses of litigation or administrative proceedings) incurred due to the matter for which indemnification is sought, but any recovery shall be net of any
economic benefit to which the Indemnified Party is entitled due to such liabilities, expenses, costs or loss, including, without limitation, (i) any tax refund, reduction or benefit, (ii) any insurance proceeds to which the Indemnified
Party is entitled and (iii) any warranty reimbursements (collectively, “Damages”). 
 (e)
Assertion and Defense of Indemnification Claims.  
 (1) Assertion of Claim. Buyer or Sellers
(“Indemnified Party”), as applicable, shall give notice to the other (“Indemnifying Party”) as soon as reasonably possible after the Indemnified Party has actual knowledge of any claim to which the
Indemnifying Party has an obligation to indemnify, including the amount, if known, and shall promptly supply any other information in possession of the Indemnified Party supporting the claim. The omission by the Indemnified Party to give Notice as
soon as reasonably possible will not relieve the Indemnifying Party of its indemnification obligations, unless the failure to give notice to the Indemnifying Party materially prejudices the Indemnifying Party or notice is given after the end of the
survival period of the applicable representation of warranty or other basis of the claim. All indemnification claims must be asserted by giving notice within the survival period of the applicable representation or warranty or other basis for the
claim. Buyer shall have the right to set off any Damages it may incur against the amount it owes Sellers. This right of set off shall be in addition to any other rights or remedies Buyer may have against Sellers. 

(2) Defense of Undisputed Claim. The Indemnified Party will permit the Indemnifying Party (at its expense) to assume the defense
of any third party claim in any litigation. The Indemnifying Party may settle or compromise any third party claim or litigation only with the consent of the Indemnified Party, which consent shall not be unreasonably withheld. The Indemnified Party
shall have the right at all times to participate in the defense, settlement, negotiations or litigation relating to any third party 

 
claim or demand at its own expense. If the Indemnifying Party does not assume the defense of any matter which it has an obligation to indemnify, then the Indemnified Party shall have the right to
defend any such third party claim or demand, and will be entitled to settle any such claim or demand in its discretion, all at the expense of the Indemnifying Party. In any event, the Indemnified Party will cooperate in the defense of any such
action at the expense of the Indemnifying Party and the pertinent records of each party shall be available to the other with respect to the defense. 

(3) Defense of Disputed Claim. Should an Indemnifying Party provide Notice to the Indemnified Party regarding a claim or action
by a third party for which the Indemnifying Party denies liability, the Indemnified Party shall give the Indemnifying Party a reasonable opportunity: (1) to conduct any proceedings or negotiations in connection therewith; (2) to take all
other required steps or proceedings to settle or defend any third party action; or (3) to employ counsel to contest any third party claim or action in the name of the Indemnified Party or otherwise. If the Indemnifying Party desires to assume
the defense of the third party claim or action, it shall promptly give Notice to the Indemnified Party. The Indemnifying Party and the Indemnified Party may participate in the defense at their own expense. 

(f) Limitation on Recovery. Anything in this Agreement to the contrary notwithstanding, there shall be no recovery under
(I) Section 8.(b)(1) or the first sentence of Section 8.(c), as applicable, until the total claims for indemnification under those provisions exceed Fifty Thousand Dollars ($75,000); or (II) Section 8 for Damages in excess of the
Price. 
 (g) Sole Remedy. Each party agrees that its sole remedy in respect to breach of any warranty or representation
by the other party shall be limited to indemnification pursuant to this Section 8. 
 9. Covenants. 

(a) Covenants of Sellers and Principal Shareholders. 

(1) Prior to any Option Grantees executing any of the Option Plan Termination Documents, (i) the Company shall have provided full
disclosure to all Sellers of the terms and conditions on which the Company proposes to terminate the GeneSeek Option Plan; and (ii) all of the Sellers shall have approved all payments to the Option Grantees pursuant to the Option Grantee
Documents. 
 (2) Principal Shareholders warrant, represent, covenant and agree that (i) they each own 50% of the shares
in Geneseek Biosciences Ltd. (“Indian Corp Shares”), a corporation organized under the laws of India (“Indian Company”); (ii) the Indian Company has never had any shareholders other than the
Principal Shareholders, has never conducted business, has never had any employees or consultants, has no liabilities and has no cash other than a modest bank account; (iii) the Indian Corp. Shares were validly authorized and issued, are fully
paid and non-

 
assessable and were not issued in violation of any applicable laws; (iv) they each own the Indian Corp Shares free and clear of all claims, liens and encumbrances of any kind; (v) they
have the authority to transfer the Indian Corp Shares to Buyer; (vi) they shall determine promptly the necessary steps and associated costs to transfer the Indian Corp Shares to Buyer and so advise Buyer; (vii) they shall take no action
with respect to the Indian Company without first obtaining the prior written approval of Buyer; (viii) they shall hold the Indian Corp Shares in trust for Buyer and (A) immediately deliver or assign the Indian Corp Shares as directed by
Buyer without any additional consideration; or (B) take such actions as directed by Buyer without additional consideration. 

(3) Oommen agrees not to engage in any business that competes, directly or indirectly, with a product or service of the Company,
individually or as an owner, officer, director, manager, employee, consultant or independent contractor of any other firm or organization (“Competitive Activity”) related to the fields of Genomics (as defined below) or
Bioinformatics (as defined below) in the United States of America and every foreign county in which Company is doing business on the Closing Date (“Territory”) for a period of sixty (60) months following the Closing
Date. Oommen acknowledges that the Company’s Genomic and Bioinformatic products and services are marketed throughout the United States of America and numerous countries. 

(4) Pomp is presently a full time employee (defined as 9 months effort or greater) at the University of North Carolina at Chapel Hill
(“UNC”) and the parties wish to acknowledge Pomp’s right to continue his academic work. While Pomp is a full time employee at UNC or any other academic institution or at any not-for-profit institution outside the field
of agribusiness in the food and animal industries, Pomp agrees that he shall not, individually or as an owner, officer, director, manager, employee, consultant or independent contractor of any other firm or organization (including without limitation
UNC or any other academic institution or at any not-for profit outside the field of agribusiness in the food and animal industries), provide Genomic or Bioinformatic products or services to commercial agribusiness in the food or animal industries
for any reason in the Territory, regardless of whether Pomp will be entitled to receive compensation or any other consideration in exchange therefor, for a period of sixty (60) months following the Closing Date. The period of time between the
Closing Date and the date on which Pomp is no longer a full time employee of UNC or of any academic or not-for-profit institution outside the field of agribusiness in the food and animal industries (“End Date”) is referred to
as the “Covered Period”. Pomp acknowledges that the Company’s Genomic and Bioinformatic products and services are marketed throughout the United States of America and numerous countries. 

Notwithstanding anything herein to the contrary, while Pomp is employed full time at UNC or any other academic institution or at any not-for-profit
institution outside the field of agribusiness in the food and animal industries, Pomp shall not be prohibited in connection with such employment from conducting any research, or from working with any collaborators, with any rodent and/or human
populations, samples, DNA or data. 

 (5) Subject to the last paragraph of Section 9.(a)(4), after the End Date, Pomp agrees
not to engage in any Competitive Activity related to the fields of Genomics or Bioinformatics in the Territory for a period of sixty (60) months following the Closing Date minus the number of days in Covered Period, if any. 

(6) The term “Genomic” or “Genomics” includes but is not limited to genotyping, SNP
discovery, and DNA sequence analysis, and services associated with providing these analyses. 
 (7) The term
“Bioinformatic” or “Bioinformatics” shall mean the use of computer science, mathematics, and information theory to model and analyze biological systems, especially systems involving genetic material.

 (b) Buyer’s Covenants. Buyer covenants and agrees with Sellers that within one year following Closing,
Buyer shall cause the Company to spend an aggregate of One Million Dollars ($1,000,000) for purchase of equipment for use in the Business. Sellers shall be entitled to injunctive remedies for breach of this provision. 

10. Transactions Subsequent to Closing. 

(a) Further Assurances. Buyer and each Seller agree that, from time to time after Closing, and upon request, they shall execute,
acknowledge and deliver such other instruments as reasonably may be required to more effectively transfer and vest in Buyer the Seller’s Shares or to otherwise carry out the terms and conditions of this Agreement. 

11. Tax Matters. 

(a) Tax Sharing Agreements. Sellers will cause any tax sharing or other allocation agreement with respect to Taxes between Company
and Sellers (or any affiliates) to be terminated as of the Closing Date so that they have no further effect for any taxable period. This Section 11 and Section 4(l) above shall control all of the parties’ respective obligations for
Taxes affecting Company and supersedes any and all prior agreements, contracts or understandings regarding Company’s Taxes. Section 11 shall control any conflict between Sections 11 and 4.(l). 

(b) Tax Returns. 

(1) Income Tax Returns. Buyer shall cause Company to consent to join, for all Tax periods of Company ending on or before the
Closing Date for which Company is eligible to do so, in any consolidated or combined federal, state or local Income Tax Returns of Sellers. Buyer and Sellers shall make any available election that will cause the taxable year of the Company to end on
the Closing Date. Buyer shall cause to be prepared and timely filed any and all consolidated or combined federal, state or local Income Tax Returns as well as any separate federal, state, local or foreign Income Tax Returns for Company for all Tax
periods of Company ending 

 
before, on or after the Closing Date. Sellers shall have the right to approve all income tax Returns of Company that are prepared by or at the direction of Buyer that covers a tax period ending
on or before the Closing Date and any period beginning before and ending after the Closing Date (a “Straddle Period”), which approval shall not be unreasonably withheld, conditioned or delayed. Sellers shall pay on a timely
basis all income Taxes in respect to the period ending on or before the Closing Date (“Pre-Closing Period”) shown as due on such Returns except to the extent included in Final Closing Liabilities (as defined in
Section 12.(e)). Buyer shall pay on a timely basis all income Taxes in respect to tax periods of Company ending after the Closing Date (“Post Closing Period”). The parties shall make available to each other copies of the
portions of such Returns relating to Company for taxable years ending before or including the Closing Date. 
 (2)
Non-Income Tax Returns. Buyer shall cause to be prepared and timely filed all non-Income Tax Returns of Company for all Tax periods ending before, on or after the Closing Date. Seller shall have the right to approve all non-Income Tax Returns
of Company that are prepared by or at the direction of Buyer that covers a tax period ending on or before the Closing Date or for any Straddle Period, which approval shall not be unreasonably withheld or delayed. Except to the extent included in
Permitted Liabilities, Sellers shall pay on a timely basis all non-Income Taxes in respect of the Pre-Closing Period as shown as due on such returns; provided, that Buyer shall pay or cause Company to pay on a timely basis the portion of such
Pre-Closing Period non-Income Taxes which are part of the Closing Liabilities. Buyer shall cause Company to pay all non-Income Taxes to which such non-Income Tax Returns relate for all periods after the Closing Date. The parties shall make available
to each other copies of non-Income Tax Returns of the Companies covering Tax periods ending before or including the Closing Date. 

(3) Buyer will make (and Sellers will cooperate in making) any available elections to have the Company’s taxable year end on the
Closing Date. In order to determine the allocation of taxes for a Straddle Period (“Straddle Period Taxes”) between the Pre-Closing Period and the Post Closing Period as follows: (i) in the case of any Straddle
Period Taxes other than Straddle Period Taxes based upon income or receipts, the Pre-Closing Period Taxes for all Business activities or operations that are related to the passage of time (e.g. income or real estate taxes) shall be determined as the
amount of Straddle Period Tax multiplied by a fraction the numerator of which is the number of days in the Tax period ending on the Closing Date and the denominator of which is the number of days in the entire Tax period, and (ii) in the case
of any Straddle Period Taxes based upon or related to income or receipts, the Pre-Closing Period Taxes shall be determined as the amount which would be payable if the Straddle Period ended as of the Closing Date; provided however, any Taxes payable
as a result of an event or series of events that fixes liability (e.g. payroll taxes) shall be payable by the party who owned GeneSeek on the date the event occurred that fixed liability. Any credits or refunds relating to a Straddle Period shall be
taken into account (and allocated between the Parties) as though the relevant Pre-Closing Period of such Straddle Period ended on the Closing Date. All determinations necessary to give effect to the foregoing allocations shall be made in a manner
that does not 

 
accelerate deductions or defer income. With respect to any such Straddle Period returns or filings, the non-filing party shall pay to the filing party, upon written notice form the filing party
and not later than five Business Days before the due date for payment of such Taxes, an amount equal to the portion of such Straddle Period Taxes for which the non-filing party is liable under this Section, and the filing party shall, promptly
following the filing thereof, provide the non-filing party with a copy of such return or other filing and a copy of a receipt showing payment of any such Straddle Period Tax. 

(c) Allocation of Income Tax Benefits. If any adjustments shall be made to any federal, state, local or foreign Income Tax returns
relating to Company for the Pre-Closing Period which result in any Income Tax detriment to Company with respect to such period and any Income Tax benefit to Company for any Tax period ending after the Closing Date (to the extent such Income Tax
benefit is realized after the Closing Date), Buyer shall be entitled to the benefit of such Income Tax benefit but an indemnification for the Tax detriment will be reduced by the amount of such Tax benefit. If any adjustment shall be made to any
federal, state, local or foreign Income Tax returns relating to Company for any Tax period ending after the Pre-Closing Period which result in any Income Tax detriment to Buyer, Company or any affiliate of Buyer with respect to such period and any
Income Tax benefit to Sellers or any affiliate of Sellers for any Pre-Closing Period, Buyer shall be entitled to the benefit of such Income Tax benefits to the extent of the related Income Tax detriment except to the extent Sellers paid such Taxes
or it was reflected in Purchase Price. 
 (d) Sellers’ Tax Indemnity. Subject to the limitations set forth in
Section 8(f), from and after the Closing Date, Sellers shall pay for, and shall indemnify, defend and hold harmless each of the Buyer and Company from and against, any liability for Taxes imposed on Company in respect to the Pre-Closing Period
(net of any related corresponding tax benefit) to the extent not included in the Permitted Liabilities. 
 (e) Refunds.
Anything in this Agreement to the contrary notwithstanding, any refunds of Taxes received by Company attributable to the Pre-Closing Period shall be for the benefit of Buyer. 

(f) Tax Audits. Buyer shall promptly notify Sellers in writing upon receipt by Buyer, any affiliate of Buyer, or Company of notice
of any pending or threatened federal, state, local or foreign Tax audits, examinations or assessments of Company (other than consolidated or combined Income Tax audits, examinations or assessments), so long as any Taxable year within the Pre-Closing
Period remains open. Sellers shall have the sole right to represent Company and its predecessors in any Tax audit or administrative or court proceeding relating to the Pre-Closing Period, and to employ counsel of its choice at its expense; provided
Sellers shall not agree or consent to any proposed adjustment that adversely affects Company after the Closing without Buyer’s prior written consent, which shall not be unreasonably withheld or delayed. Buyer shall not file any amended Tax
Return or take any other action which would have the effect of reducing the Purchase Price, increasing Sellers’ liability for Taxes of Indemnification without notifying Sellers in advance and providing Sellers a reasonable opportunity to review
and consent thereto, which consent shall not be unreasonably withheld, delayed or conditioned. 

 (g) Buyer’s Indemnity. From and after the Closing Date, Buyer shall indemnify,
defend and hold Seller and its affiliates harmless from and against, any liability for all Taxes for Tax periods (or portion thereof) of Company which occur or begin after the Closing Date, including, without limitation, any such liability with
respect to operations of Company and dispositions of assets by Company after the Closing Date, and Buyer shall pay, indemnify and hold Seller and its affiliates harmless from and against any liability resulting directly or indirectly from any breach
or nonfulfillment of any agreement or covenants on the part of Buyer or Company under this Section 11. 
 12. Final
Determination of Cash Price. 
 a. As soon as practicable, but in no event later than sixty days following the Closing,
Buyer shall prepare, or cause to be prepared, and deliver to Seller the values, determined in accordance with this Agreement, as of the Closing Date for Total Assets (“Closing Date Total Assets Statement”) and Total
Liabilities (“Closing Date Total Liabilities Statement (collectively, “Closing Date Statements”). 

b. Sellers shall have thirty days following the receipt of complete and accurate data from Buyer regarding computation of the Closing
Date Statements to review the Closing Date Statements after their delivery by Buyer. If Sellers determine that any of the Closing Date Statements has not been prepared in accordance with the Agreement, Sellers shall, on or before the last day of
such thirty day period, send its objections to Buyer in writing (“Sellers’ Objection”), setting forth a specific description of the basis of Sellers’ determination and the adjustments to such Closing Date Statements
to which Sellers object. If no Sellers’ Objection is sent to Buyer within such thirty day period, then the Closing Date Statements become the final Total Assets and Total Liabilities as of the Closing Date. 

c. Sellers shall have thirty days from its receipt of Sellers’ Objection to review and respond to Sellers’ Objection
(“Sellers’ Review Period”). 
 d. Buyer and Sellers shall use reasonable efforts to resolve any
disagreements with respect to the proposed adjustments set forth in Sellers’ Objection. If Buyer and Sellers are unable to resolve such disagreements within the Sellers’ Review Period, they shall refer any remaining disagreements
(“Unresolved Items”) to the CPA Firm (as defined below) which, acting as experts and not as arbitrators, shall determine, on the basis set forth in and in accordance with the Agreement, and only with respect to the Unresolved
Items, whether and to what extent, if any, the Closing Date Statements require adjustment. Sellers and Buyer shall instruct the CPA Firm to deliver its written determination to Sellers and Buyer no later than thirty days after such disagreements are
referred to the CPA Firm. The CPA Firm’s determination shall be conclusive and binding upon Sellers and Buyer. 
 e. The
amount of Total Assets and Total Liabilities as of the Closing Date agreed upon or as determined by the CPA Firm as provided in this Section 12, as applicable, shall be the “Final Closing Total Assets” and
“Final Closing Total Liabilities”, respectively. The term “Final Closing Net Assets Value” shall mean the Final Closing Total Assets minus the Final Closing Total Liabilities. 

 f. The fees and disbursements of the CPA Firm shall be borne by Sellers and Buyer based on
the following formula: (i) Sellers shall pay that portion of such fees and expenses equal to the total of such fees and expenses multiplied by a fraction, the numerator of which is the amount of the Unresolved Items resolved in favor of Buyer
and the denominator of which is the total amount of Unresolved Items; and (ii) Buyer shall pay that portion of such fees and expenses equal to the total of such fees and expenses multiplied by a fraction, the numerator of which is the amount of
Unresolved Items resolved in favor of Sellers and the denominator of which is the total amount of Unresolved Items. 
 g. Buyer
and Sellers shall make readily available to the CPA Firm all relevant books and records and any work papers (including those of the parties’ respective accountants, to the extent permitted by such accountants) relating to the Closing Date
Statements and to Sellers’ Objection and all other items reasonably requested by the CPA Firm in connection with its review. Sellers and their accountants shall have reasonable access to all information used by Buyer in preparing, and employees
of the Company and its agents involved in the preparation of, the Closing Date Statements, including, in each case, the work papers of Buyer’s accountants, in each case during regular business hours and upon reasonable advance notice. Each
party shall have reasonable access to all information used by the CPA Firm in reaching its determination. 
 h. The term
“CPA Firm” shall mean an independent certified public accounting firm agreed to by Sellers and Buyer. 

13. Notices. All notices and other communications required or permitted under this Agreement shall be given if mailed by
registered or certified mail, postage prepaid, or otherwise delivered by hand or messenger, fax, nationally recognized overnight courier or telegram to the parties at the following addresses, or to such other changed address as such party may have
given by notice: 
  

			
	Buyer:	  	Neogen Corporation
		  	620 Lesher Place
		  	Lansing, Michigan 48912
		  	Attn: President
		  	Facsimile:
		  	517-372-0108
		  	Email: jherbert@neogen.com
		
	And a copy to:	  	Lowe Law Firm, P.C.
		  	Attention: Richard C. Lowe
		  	2375 Woodlake Drive, Suite 380
		  	Okemos, MI 48864
		  	Facsimile:
		  	517-908-0901
		  	Email:dlowe@lowelaw.net

			
	Sellers:	  	To the addresses listed on attached Exhibit A
		
		  	
	And a copy to:	  	David A. Rubenstein
		  	Drinker Biddle & Reath LLP
		  	191 N. Wacker Drive
		  	Chicago, IL 60606
		  	Facsimile: 312-569-3134
		  	Email: david.rubenstein@dbr.com

 14.
Applicable Law; Venue. This Agreement has been executed, delivered and accepted at and shall be deemed to have been made at Lansing, Michigan and shall be interpreted and the rights and liabilities of the parties shall be determined in
accordance with the laws of the State of Michigan. The parties waive personal service of any and all process upon them and consent that all such service of process be made by registered mail directed to the parties at their addresses set forth on
Exhibit A of the Agreement and service so made shall be deemed to be completed five business days after the material shall have been deposited in the mail, postage prepaid. The parties agree that any action shall be brought in the court of
appropriate jurisdiction in Ingham County, Michigan or U.S. District Court for the Western District of Michigan. The parties consent to jurisdiction and waive all claims of improper venue and forum non-conviens. 

15. Integration. This Agreement (including attached Exhibits and Schedules) and the Confidentiality Agreement, dated on or about
September 30, 2009 sets forth the entire agreement and understanding between the parties as to the subject matter, and supersedes all prior discussions, representations, amendments or understandings of every kind and nature between them.

 16. Amendments. Any amendment, alteration, supplement, modification or waiver shall be invalid unless it is in writing
and signed by all parties. 
 17. Severability. If any provision of this Agreement becomes or is declared by a court of
competent jurisdiction to be illegal, unenforceable or void, this Agreement shall continue in full force and effect without the provision. 

18. Assignability. This Agreement may be assigned by Buyer without the prior written consent of Sellers; provided, Buyer shall
continue to be liable for the performance of all obligations pursuant to the Agreement. Sellers may not assign this Agreement without the prior written consent of Buyer, which consent may be withheld for any or no reason; provided that Sellers may
assign rights hereunder to their heirs or personal representatives; provided further that Sellers shall remain liable for all obligations pursuant to this Agreement. 

 19. Benefit. This Agreement shall be binding upon and inure to the benefit of Buyer
and its successors and assigns and of Sellers and their respective personal representatives, heirs, successors and permitted assigns. 

20. Captions. Captions contained in this Agreement are inserted for reference and in no way define, limit, extend or describe the
Agreement or the intent of any provision in this Agreement. 
 21. Pronouns. All pronouns and any variation thereof shall
be deemed to refer to the masculine, feminine, neuter, singular or plural as the identity of the parties may require. 
 22.
Exhibits. The parties agree that the Exhibits attached to this Agreement shall be treated for all purposes as part of this Agreement. 

23. Prevailing Party. The prevailing party in any arbitration or permitted litigation involving this Agreement shall be entitled
to recover, in addition to any other relief obtained, the costs and expenses, including reasonable attorney’s fees and expenses, incurred by the prevailing party. 

24. Construction of Agreement. The parties agree that this Agreement has been jointly drafted and that neither party may assert an
ambiguity in the construction of this Agreement against another party because the other party allegedly drafted the allegedly ambiguous provision. 

25. Interpretation. Whenever the words “include,” “includes,” or
“including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation.” The term “Company’s knowledge” shall mean the actual
knowledge of those individuals set forth on Exhibit 25. All terms defined in this Agreement shall have the defined meanings when used in any certificate or other document made or delivered pursuant to the Agreement unless otherwise
defined in the Agreement. The definitions contained in this Agreement are applicable to the singular as well as the plural forms of such terms and to the masculine as well as to the feminine and neuter genders of such terms. Any agreement,
instrument, or statute defined or referred to in this Agreement or in any agreement or instrument that is referred to in the Agreement means such agreement, instrument, or statute as from time to time amended, qualified or supplemented, including
(in the case of agreements and instruments) by waiver or consent and (in the case of statutes) by succession of comparable successor statutes and all attachments thereto and instruments incorporated therein. References to any person or entity are
also to its permitted successors and assigns. 
 26. Defined Terms. Defined terms used in this Agreement have the
meanings ascribed to them in the paragraphs contained in attached Exhibit 26. 

 27. Expenses. Each party shall pay its own costs associated with the preparation and
negotiation of this Agreement; provided, no portion of the costs or fees of this transaction shall be paid for by Company, except to the extent taken into account in calculating the Post-Closing Purchase Price Adjustment Amount. 

28. Appointment of Seller Representative. 

(a) Upon completion of Closing, and without any further action, Sellers appoint Oommen (“Seller Representative”)
as agent and attorney in fact by and for each Seller (“Seller Beneficiaries”) to give and receive notices and communications, to receive payments, to agree to, negotiate, enter into settlements and compromises of claims, and
initiate arbitration and litigation and comply with orders of any arbitration panel and court with respect to, such claims, to act on behalf of the Seller Beneficiaries with respect to the determination of all Damages, and to take all actions
necessary or appropriate in the judgment of the Seller Representative for the accomplishment of any of the preceding. The Seller Beneficiaries may remove an incumbent representative and designate a successor representative if the designated
representative dies, resigns or is removed at any time by approval in writing of Seller Beneficiaries representing at least a majority of the Sellers’ Shares immediately preceding the Closing. Notices or communications by Buyer to the Seller
Representative or from the Seller Representative to Buyer shall constitute notice or communication to or from each of the Seller Beneficiaries. The power of attorney granted by Sellers to the Seller Representative shall be irrevocable and coupled
with an interest. 
 (b) The Seller Representative shall not be liable to any Seller for any act done or omitted under this
Agreement while acting in good faith and in the exercise of reasonable judgment (including but not limited to making payment to the Seller Representative for all Seller Beneficiaries). The Seller Beneficiaries, as a class, ratably in accordance with
their respective ownership percentage interest, shall indemnify the Seller Representative and hold the Seller Representative harmless against any loss, liability or expense incurred. 

(c) A decision, act, consent or instruction of the Seller Representative shall constitute a decision by all Seller Beneficiaries and
shall be final, binding and conclusive upon each of the Seller Beneficiaries, and Buyer may rely upon such written decision, consent or instruction of the Seller Representative as being the decision, consent or instruction of each of the Seller
Beneficiaries. Buyer shall not have any liability to any person or entity for any acts done by it in accordance with such decision, consent or instruction of the Seller Representative. 

[The rest of this page has intentionally left blank.] 

 The parties have executed this Agreement as of the date first above written. 

 

									
	Sellers:	 	 	 	 	 	 
			
	/s/ Abraham Oommen                       
                                         
    	 		 	/s/ Daniel H. Pomp                     
                                         
                          
	Abraham Oommen	 		 	Daniel H. Pomp
			
	/s/ Anna M. Oommen                      
                                         
     	 		 	                           
                                         
                                         
           
	Anna M. Oommen	 		 		 	
			
	University of Nebraska Foundation	 		 	University of Nebraska Technology Park, LLC
					
	By:	 	/s/ Daniel
Morin                                        
                                	 		 	By:	 	/s/ Stephen
Frayser                                        
                                        

		 	                             
                                         
                  ,	 		 		 	                             
                                         
          ,
		 	Its     Director of
Investments                                       
 	 		 		 	Its
    President                                   
                     
			
	Company:	 		 	Buyer:
			
	GeneSeek, Inc.	 		 	Neogen Corporation
					
	By:	 	/s/ Abraham Oommen                         
                                       	 		 	By:	 	/s/ James L. Herbert                       
                                         
            
		 	Abraham Oommen, its President	 		 		 	James L. Herbert, its Chairman
		 	and Chief Executive Officer	 		 		 	

  

 Amendment No. 1 

to Stock Purchase Agreement 

This Amendment No. 1 (“Amendment No. 1”) is made on June 28, 2010 between Neogen
Corporation, a Michigan Corporation, (“Buyer”), GeneSeek, Inc., a Nebraska Corporation (“Company”), and all former Shareholders of the Company (“Sellers”).

 Recitals 

A. The parties entered into a Stock Purchase Agreement as of March 31, 2010 by which Purchaser purchased all of the Sellers’
stock in the Company (“SPA”). 
 B. The parties desire to amend the SPA on the terms contained in this
Amendment No. 1. 
 The parties agree as follows: 

1. Defined Terms. Capitalized terms in this Amendment No. 1 shall have the same meaning ascribed to them as in the SPA.

 2. Seller Representative. Pursuant to Section 28 of the SPA, Abraham Oommen is the incumbent Seller
Representative. 
 3. Amendment of Sections 2.(c)(1). Section 2.(c)(1) of the SPA shall be deleted in its entirely
and replaced with the following: 
 “(1) The Applicable Percentage times 50% of the excess, if any, of the sum of the Gross
Profit (as defined in Section 2.(d)(2)) minus Applicable Depreciation (as defined in Section 2.(d)(5)) minus the Base (as defined in Section 2.(d)(6)) for the first Counting Year (as defined in Section 2.(d)(1)) after the Closing
Date; provided in no event shall the amount payable by Buyer pursuant to Section 2.(a), (b) and (c)(1) exceed the Cap (as defined in Section 2.(d)(7)).” 

4. Amendment of Section 2.(c)(2). Section 2.(c)(2) of the SPA shall be deleted in its entirely and replaced with the
following: 
 “(2) The Applicable Percentage times 50% of the excess, if any, of the sum of the Gross Profit minus
Applicable Depreciation minus the Base for the second Counting Year after the Closing Date; provided in no event shall the amount payable by Buyer (i) pursuant to Section 2.(a), (b), (c)(1) and (c)(2) exceed the Cap.” 

5. Amendment of Section 2.(c)(3). Section 2.(c)(3) of the SPA shall be deleted in its entirely and replaced with the
following: 
 “(3) The Applicable Percentage times 50% of the excess, if any, of the sum of the Gross Profit minus
Applicable Depreciation minus the Base for the third Counting Year after the Closing Date; provided in no event shall the amount payable by Buyer (i) pursuant to Section 2.(c)(3) exceed One Million Five Hundred Thousand Dollars
($1,500,000); and (ii) pursuant to Section 2.(a), (b), (c)(1), (c)(2) and (c)(3) exceed the Cap.” 
  

 1 

 6. Amendment of Sections 2.(d)(9) and (10). Sections 2.(d)(9) and (10) of the
SPA are deleted in their entirety. 
 7. Amendment of Section 8.(f). Section 8.(f) is amended to change the
word “Fifty” to “Seventy Five”. 
 8. Other Provisions. Expect as expressly modified by this
Amendment No. 1, all SPA provisions shall be effective. 
 9. Incorporation of Terms. The parties agree that all of
the provisions contained in Sections 13 through 21, 23 through 25 and 27 of the SPA shall be incorporated into this Amendment No. 1. 

[The remainder of this page is intentionally left blank.] 

 

 2 

					
		 	BUYER:
		
		 	NEOGEN CORPORATION
			
	June 28, 2010	 	By:	 	 /s/ James L. Herbert

		 		 	James L. Herbert,
		 		 	Its Chairman
		
		 	COMPANY:
		
		 	GENESEEK, INC.
			
	June 28, 2010	 	By:	 	 /s/ James L. Herbert

		 		 	James L. Herbert,
		 		 	Its: President
		
		 	SELLERS:
			
	July 12, 2010	 	By:	 	 /s/ Abraham Oommen

		 		 	Abraham Oommen,
		 		 	Seller Representative

  

 3

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