Document:

EX-10.1

 Exhibit 10.1 
 THIRD AMENDMENT TO CREDIT AGREEMENT 
 THIS THIRD AMENDMENT TO CREDIT
AGREEMENT, dated as of August 31, 2012 (this “Amendment”), is by and between NEOGEN CORPORATION, a Michigan corporation (the “Borrower”), and JPMORGAN CHASE BANK, N.A., a national banking association (the “Bank”).

 RECITALS 
 A. The Borrower and the Bank have entered into that certain Credit Agreement dated as of May 20, 2010, as amended by First Amendment to Credit Agreement dated as of September 24, 2010 and Second
Amendment to Credit Agreement dated as of September 2, 2011 but effective as of August 31, 2011 (as amended, the “Credit Agreement”). 
 B. The Borrower and the Bank desire to amend the Credit Agreement on the terms and conditions set forth in this Amendment. 
 NOW, THEREFORE, in consideration of the premises and of the mutual agreements herein contained, the parties hereto agree as follows: 

ARTICLE 1. AMENDMENT TO CREDIT AGREEMENT 
 Subject to Article 2 of this Amendment, the Credit Agreement hereby is amended as follows: 
 1.1 Section 1.2 of the Credit Agreement is amended and restated as follows: 
  

	 	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) $12,000,000.00 minus (b) the Letter of Credit Liabilities (as defined below) 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 or the date of any amendment hereof, as the case may be, and any renewals, modifications, extensions, rearrangements and restatements thereof and replacements or substitutions
therefor. The Bank, or any affiliate of the Bank, may from time to time in its sole discretion, prior to the maturity date of the Note evidencing Facility A, as renewed, modified, extended or restated from time to time, and including any
replacements or substitutions therefor (the “Facility A Note”), issue one or more letters of credit (each a “Letter of Credit”) for the account of the Borrower. Each Letter of Credit shall be issued based upon an Application and
Agreement for Standby/Commercial Letter of Credit (each an “Application”), in form and substance as reasonably and customarily required by the Bank, which Application shall be executed by the Borrower. The Borrower agrees to pay the Bank
all fees and expenses associated with each Application. Pursuant to the applicable Application, each funding under a Letter of Credit shall be reimbursed by the Borrower upon demand. Unless otherwise agreed by the Bank in its

	 	
sole discretion, each Letter of Credit shall have an expiration date that does not exceed the scheduled maturity date of the Facility A Note. Notwithstanding anything to the contrary, the maximum
aggregate amount of the unfunded commitments plus any unpaid reimbursements with respect to all Letters of Credit (collectively, the “Letter of Credit Liabilities”) shall not at any time exceed $2,000,000. Whenever a Default has occurred
and is continuing, or upon the occurrence of the date that is five (5) Business Days (as defined in the Facility A Note) prior to the scheduled maturity date of the Facility A Note, immediately upon demand by the Bank the Borrower shall provide
cash collateral to the Bank for the Letter of Credit Liabilities in the aggregate amount of the Letter of Credit Liabilities at such time. The Borrower will use the proceeds of the loans under Facility A and the Letters of Credit for its general
corporate purposes. 

 1.2 Facility B hereby is terminated and Section 1.3, which was added to the Credit
Agreement pursuant to the above-referenced Second Amendment to Credit Agreement is amended and restated as follows: 
  

	 	1.3	[intentionally omitted] 

ARTICLE 2. CONDITIONS PRECEDENT 
 As conditions precedent to the effectiveness of the amendments to the Credit Agreement set forth in Article 1 of this Amendment, the Bank shall receive the following documents and the following matters
shall be completed, all in form and substance satisfactory to the Bank: 
 2.1 This Amendment duly executed on behalf of the
Borrower and the Bank. 
 2.2 A replacement Line of Credit Note in the principal amount of $12,000,000 evidencing Facility A
(the “Replacement Note”), duly executed on behalf of the Borrower. 
 2.3 A certificate of the Chief Financial Officer
of the Borrower to the effect that there are no new or additional material commitments or contingent liabilities or other obligations of the Borrower since May 31, 2012 and no material adverse developments in any commitments or contingent
liabilities or other obligations of the Borrower previously identified in the Borrower’s annual financial statement as of, and for the fiscal year ended, May 31, 2012. 

2.4 An updated opinion letter of counsel for the Borrower, substantially in the form of the opinion letter of counsel for the Borrower
delivered to the Bank in connection with the Credit Agreement, covering this Amendment, the Replacement Note, the transactions contemplated by this Amendment and the other matters covered in such prior opinion letter. 

2.5 Such other documents, and completion of such other matters, as the Bank may reasonably deem necessary or appropriate to carry out the
intent of, and/or implement, this Amendment. 

  
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 [Third Amendment to Credit Agreement – Neogen Corporation] 

 ARTICLE 3. REPRESENTATIONS AND WARRANTIES 

In order to induce the Bank to enter into this Amendment, the Borrower represents and warrants that: 

3.1 The execution, delivery and performance by the Borrower of this Amendment and the Replacement Note are within its corporate powers,
have been duly authorized by all necessary corporate action and are not in contravention of any applicable law, rule or regulation, or any applicable judgment, decree, writ, injunction, order or award of any arbitrator, court or governmental
authority, or of the terms of the Borrower’s charter or by-laws, or of any contract or undertaking to which the Borrower is a party or by which the Borrower or its property is or may be bound or affected. 

3.2 This Amendment is, and the Replacement Note when delivered hereunder will be, a legal, valid and binding obligation of the Borrower,
enforceable against the Borrower in accordance with their respective 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.

 3.3 No consent, approval or authorization of or declaration, registration or filing with any governmental or nongovernmental
person or entity, including without limitation any creditor, stockholder or lessor of the Borrower, remains required on the part of the Borrower in connection with the execution, delivery and performance of this Amendment or the Replacement Note or
the transactions contemplated hereby or as a condition to the legality, validity or enforceability of this Amendment or the Replacement Note. 
 3.4 After giving effect to the amendments contained in Article 1 of this Amendment, the representations and warranties contained in Section 6 of the Credit Agreement and in the other Related
Documents are true on and as of the date hereof with the same force and effect as if made on and as of the date hereof. No default has occurred and is continuing under the Credit Agreement, the Notes or any of the other Related Documents.

 ARTICLE 4. MISCELLANEOUS 
 4.1 If the Borrower shall fail to perform or observe any term, covenant or agreement in this Amendment, or any representation or warranty made by the Borrower in this Amendment shall prove to have been
incorrect in any material respect when made, such occurrence shall be deemed to constitute an event of default under the Credit Agreement and the Note. 
 4.2 All references to the Credit Agreement in the Note, any other Related Documents or any other document, instrument or certificate referred to in the Credit Agreement or delivered in connection
therewith or pursuant thereto, hereafter shall be deemed references to the Credit Agreement, as amended hereby. 
 4.3 Except as
amended hereby, the Credit Agreement and the other Related Documents shall in all respects continue in full force and effect. 

4.4 Capitalized terms used but not defined herein shall have the respective meanings ascribed thereto in the Credit Agreement.

 4.5 This Amendment shall be governed by and construed in accordance with the laws of the State of Michigan. 

  
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 [Third Amendment to Credit Agreement – Neogen Corporation] 

 4.6 The Borrower agrees to pay the reasonable fees and expenses of Dickinson Wright PLLC,
counsel for the Bank, in connection with the negotiation and preparation of this Amendment and the documents referred to herein and the consummation of the transactions contemplated hereby. 

4.7 This Amendment may be executed upon any number of counterparts with the same effect as if the signatures thereto were upon the same
instrument. 
 4.8 Each party hereto, after consulting or having had the opportunity to consult with counsel, knowingly,
voluntarily, and intentionally waives any right any of them may have to a trial by jury in any litigation based upon or arising out of this Amendment, or any agreement referenced herein or other related instrument or agreement, or any of the
transactions contemplated by this Amendment, or any course of conduct, dealing, statements (whether oral or written) or actions of any of them. None of the parties hereto shall seek to consolidate, by counterclaim or otherwise, any such action in
which a jury trial has been waived with any other action in which a jury trial cannot be or has not been waived. These provisions shall not be deemed to have been modified in any respect or relinquished by any party hereto except by a written
instrument executed by both of them. 
 4.9 The Borrower agrees to execute any and all documents reasonably deemed necessary or
appropriate by the Bank to carry out the intent of, and/or to implement, this Amendment. 
 4.10 This Amendment constitutes the
entire understanding of the parties with respect to the subject matter hereof. This Amendment is binding on the parties hereto and their respective successors and assigns, and shall inure to the benefit of the parties hereto and their respective
successors and assigns. If any of the provisions of this Amendment are in conflict with any applicable statute or rule or law or otherwise unenforceable, such offending provisions shall be null and void only to the extent of such conflict or
unenforceability, but shall be deemed separate from and shall not invalidate any other provision of this Amendment. 
 4.11 No
course of dealing on the part of the Bank, nor any delay or failure on the part of the Bank in exercising any right, power or privilege hereunder shall operate as a waiver of such right, power or privilege or otherwise prejudice the Bank’s
rights and remedies hereunder or under any Related Document or any other agreement or instrument of the Borrower with or in favor of the Bank; nor shall any single or partial exercise thereof preclude any further exercise thereof or the exercise of
any other right, power or privilege. No right or remedy conferred upon or reserved to the Bank under this Amendment or under any Related Document or any other agreement or instrument of the Borrower with or in favor of the Bank is intended to be
exclusive of any other right or remedy, and every right and remedy shall be cumulative and in addition to every other right or remedy granted thereunder or now or hereafter existing under any applicable law. Every right and remedy granted by this
Amendment or under any Related Document or any other agreement or instrument of the Borrower with or in favor of the Bank or by applicable law to the Bank may be exercised from time to time and as often as may be deemed expedient by the Bank.

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 [Third Amendment to Credit Agreement – Neogen Corporation] 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and
delivered as of the day and year first-above written. 
  

			
	NEOGEN CORPORATION
		
	By:	 	/s/
		 	Steven J. Quinlan
		 	Its: Vice President and Chief Financial Officer
	
	JPMORGAN CHASE BANK, N.A.
		
	By:	 	/s/
		 	 
		 	Its: Claire Teachout Authorized Signer

  
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 [Third Amendment to Credit Agreement – Neogen Corporation]EX-10.2

 Exhibit 10.2 

 
 

 
 Line of Credit Note 
 (Facility A) 
 $12,000,000.00 

Date: August 31, 2012 

Promise to Pay. On or before September 1, 2014, for value received, Neogen Corporation, a Michigan corporation (the “Borrower”)
promises to pay to JPMorgan Chase Bank, N.A. (the “Bank”), or order, in lawful money of the United States of America, the sum of Twelve Million and 00/100 Dollars ($12,000,000.00) or so much thereof as may be advanced and outstanding, plus
interest on the unpaid principal balance as provided below. 
 Variable Interest Rate. The interest rate on this Note is subject to
change from time to time based on changes in an index which is the LIBOR Rate (the “Index”). “LIBOR Rate” shall mean the offered rate for U.S. Dollar deposits of not less than $1,000,000.00 for a period of time equal to each
Interest Period as of 11:00 A.M. City of London, England time two London Business Days prior to the first date of each Interest Period of this Note as shown on the display designated as “British Bankers Assoc. Interest Settlement Rates” on
the Reuters Screen (“Reuters”) LIBOR01 Page, or such other page or pages as may replace such pages on Reuters for the purpose of displaying such rate. Provided, however, that if such rate is not available on Reuters then such offered rate
shall be otherwise independently determined by the Bank from an alternate, substantially similar independent source available to the Bank or shall be calculated by the Bank by a substantially similar methodology as that theretofore used to determine
such offered rate in Reuters. “London Business Day” means any day other than a Saturday, Sunday or a day on which banking institutions are generally authorized or obligated by law or executive order to close in the City of London, England.
Each change in the rate to be charged on this Note will become effective without notice on the commencement of each Interest Period based upon the Index then in effect. “Interest Period” means each consecutive one month period (the first
of which shall commence on the date of this Note) effective as of the first day of each Interest Period and ending on the last day of each Interest Period, provided that if any Interest Period is scheduled to end on a date for which there is no
numerical equivalent to the date on which the Interest Period commenced, then it shall end instead on the last day of such calendar month. The interest rate to be applied to the unpaid principal balance of this Note will be at a rate equal to the
Index, plus 1.00% per annum. NOTICE: Under no circumstances will the interest rate on this Note be more than the maximum rate allowed by applicable law. 
 Prepayment. Borrower may pay without fee all or a portion of the principal amount owed hereunder earlier than it is due. All prepayments shall be applied to the indebtedness in such order and
manner as Lender may from time to time determine in its sole discretion. 
 Interest After Default. So long as an event of default under
Section 7.1 of the Credit Agreement has occurred and has not been waived by the Bank, whether or not the Bank elects to accelerate the maturity of this Note because of such event of default, all loans outstanding under this Note shall, if
permitted under applicable law, bear interest at a per annum rate equal to the Index plus four percent (4.00%) per annum from the date the Bank elects to impose such rate. The interest rate will not exceed the maximum rate permitted by
applicable law. 
 Notice and Manner of Borrowing. The Borrower shall give the Bank written notice (effective upon receipt) of the
Borrower’s intent to draw down an advance under this Note no later than 2:00 p.m., Eastern time, on the date of disbursement. The Borrower’s notice must specify: (a) the disbursement date and (b) the amount of each advance. By
the Bank’s close of business on the disbursement date and upon fulfillment of the conditions set forth herein and in any other of the Related Documents, the Bank shall disburse the requested advance in immediately available funds by crediting
the amount of such advances to the Borrower’s account with the Bank. 
 Payments. Interest accrued and unpaid on the principal
balance outstanding on this Note and the Replaced Note (as defined below) shall be paid monthly on the 1st day of each month, beginning September 1, 2012. All outstanding principal and interest is due and payable in full on September 1,
2014. 

 Bank Records. The Bank shall, in the ordinary course of business, make notations in its records of
the date and amount of each loan hereunder, the applicable interest rate, the amount of each payment on the loans, and other information. Such records shall, in the absence of manifest error, be conclusive as to the outstanding principal balance of
this Note and applicable interest rate. 
 Obligations Due on Non-Business Day. Whenever any payment under this Note becomes due and
payable on a day that is not a Business Day, if no default then exists under this Note, the maturity of the payment shall be extended to the next succeeding Business Day, except, in the case of a LIBOR Rate Advance, if the result of the extension
would be to extend the payment into another calendar month, the payment must be made on the immediately preceding Business Day. “Business Day” means a day other than a Saturday, Sunday or any other day on which national banking
associations are authorized to be closed. 
 Matters Regarding Payment and Interest Calculation. The Borrower will pay the Bank at the
Bank’s address shown on loan account statements sent to the Borrower, the Bank’s address shown in any payment coupon book provided to the Borrower, or at such other place as the Bank may designate in writing. Payments shall be allocated
among principal, interest and fees at the discretion of the Bank unless otherwise agreed or required by applicable law. Acceptance by the Bank of any payment which is less than the payment due at the time shall not constitute a waiver of the
Bank’s right to receive payment in full at that time or any other time. The annual interest rate for this Note is computed on a 360/365 basis; that is, by applying the ratio of the annual interest rate over a year of 360 days, multiplied by the
outstanding principal balance, multiplied by the actual number of days the principal balance is outstanding. The Borrower will pay a fee to the Bank of $25.00 if the Borrower makes a payment on this Note and the check or pre-authorized charge with
the Bank is later dishonored. 
 Authorization for Direct Payments (ACH Debits). To effectuate any payment due under this Note or under
any other Related Documents, the Borrower hereby authorizes the Bank to initiate debit entries to Account Number 829459171 at the Bank and to debit the same to such account. This authorization to initiate debit entries shall remain in full force and
effect until the Bank has received written notification of its termination in such time and in such manner as to afford the Bank a reasonable opportunity to act on it. The Borrower represents that the Borrower is and will be the owner of all funds
in such account. The Borrower acknowledges: (1) that such debit entries may cause an overdraft of such account which may result in the Bank’s refusal to honor items drawn on such account until adequate deposits are made to such account;
(2) that the Bank is under no duty or obligation to initiate any debit entry for any purpose; and (3) that if a debit is not made because the above-referenced account does not have a sufficient available balance, or otherwise, the payment
may be late or past due. 
 Late Fee. Any principal or interest which is not paid within 10 days after its due date (whether as stated,
by acceleration or otherwise) shall be subject to a late payment charge of 5.00% of the total payment due or $25.00, whichever is greater, up to the maximum amount of $250.00 per late charge. The Borrower agrees to pay and stipulates that such
amount is a reasonable amount for a late payment charge. The Borrower shall pay the late payment charge upon demand by the Bank or, if billed, within the time specified. 
 Purpose of Loan. The Borrower acknowledges and agrees that this Note evidences a credit facility for a business, commercial, agricultural or similar commercial enterprise purpose, and that no
advance shall be used for any personal, family or household purpose. The proceeds of the advances under this Note shall be used only for the Borrower’s general corporate purposes. 
 Continued Validity. This Note embodies the entire agreement and understanding between the Bank and the Borrower with respect to the subject matter hereof and supersedes, amends, replaces and
restates all prior agreements and understandings relating to its subject matter, including but not limited to the terms and conditions of the Line of Credit Note in the principal amount of $10,000,000 dated September 2, 2011 but effective as of
August 31, 2011 made by the Borrower in favor of the Bank (“Replaced Note”), which replaced the Line of Credit Note in the principal amount of $10,000,000 dated May 20, 2010 made by the Borrower in favor of the Bank. This Note is
issued in exchange and 

  
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replacement for the Replaced Note and shall not be deemed a novation or satisfaction of the Replaced Note, evidences the same indebtedness and liabilities evidenced by the Replaced Note,
including all principal of, and accrued and unpaid interest on, the Replaced Note, and is entitled to no less collateral and other security with no lesser priority than the Replaced Note. The Borrower hereby promises to pay with the first payment of
interest on this Note all accrued and unpaid interest on the Replaced Note. All amounts previously borrowed and outstanding under the Replaced Note shall be deemed amounts borrowed and outstanding under this Note and the credit facility described
below in this Note. 
 Credit Facility. The Bank has approved a credit facility to the Borrower in a principal amount not to exceed the
face amount of this Note. The credit facility is in the form of advances made from time to time by the Bank to the Borrower. This Note evidences the Borrower’s obligation to repay those advances. The aggregate principal amount of debt evidenced
by this Note is the amount reflected from time to time in the records of the Bank. Until the earliest to occur of maturity, any default, event of default, or any event that would constitute a default or event of default but for the giving of notice,
the lapse of time or both, the Borrower may borrow, pay down and reborrow under this Note subject to the terms of the Related Documents.  
 Governing Law. This document will be governed by and interpreted in accordance with federal law and the laws of the State of Michigan. 

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 Miscellaneous. This Note binds the Borrower and its successors, and benefits the Bank, its successors
and assigns. Any reference to the Bank includes any holder of this Note. This Note is subject to that certain Credit Agreement by and between the Borrower and the Bank, dated as of May 20, 2010, and all amendments, restatements and replacements
thereof (the “Credit Agreement”) to which reference is hereby made for a more complete statement of the terms and conditions under which the loans evidenced hereby are made and are to be repaid. The terms and provisions of the Credit
Agreement are hereby incorporated and made a part hereof by this reference thereto with the same force and effect as if set forth at length herein. No reference to the Credit Agreement and no provisions of this Note or the Credit Agreement shall
alter or impair the absolute and unconditional obligation of the Borrower to pay the principal and interest on this Note as herein prescribed. Capitalized terms not otherwise defined herein shall have the meanings assigned to such terms in the
Credit Agreement. 
  

																	
		 		 	Borrower:
			
	Address:	 		 	Neogen Corporation
									
	 620 Lesher Place
 Lansing,
Michigan 48912
	 		 	By:	 	/s/	 	 	 	 	 	 	 	 	 	 
						
		 		 	Its:	 	Steven J. Quinlan	 	 	 	Vice President and CFO
		 		 		 	Printed Name	 		 	                    Title
						
		 		 	Date Signed:	 	 	 	 	 	August 31, 2012

  
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