Document:

EX-10.3

 Exhibit 10.3 
  

 
 Line of Credit Note 

(Facility A) 

$12,000,000.00 
 Date:
May 30, 2014 
 Promise to Pay. On or before September 30, 2017, 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. Subject to the other terms and
conditions of this Note, the interest rate applicable to this Note shall be the Adjusted LIBOR Rate in effect from time to time. NOTICE: Under no circumstances will the interest rate on this Note be more than the maximum rate allowed by applicable
law. As used in this Note, the following terms have the following respective meanings: 
 “Adjusted LIBOR
Rate” means, with respect to the relevant Interest Period, the sum of (i) 1% per annum plus (ii) the quotient of (a) the LIBOR Rate applicable to such Interest Period, divided by (b) one minus the Reserve
Requirement (expressed as a decimal) applicable to such Interest Period. 
 “Business Day” means
(i) with respect to the Adjusted LIBOR Rate and any borrowing or payment hereon and Interest Periods, a day (other than a Saturday or Sunday) on which banks generally are open in Michigan and/or New York for the conduct of substantially all of
their commercial lending activities and on which dealings in United States dollars are carried on in the London interbank market and (ii) for all other purposes, a day other than a Saturday, Sunday or any other day on which national banking
associations are authorized to be closed. 
 “Interest Period” means each consecutive one month period, the
first of which shall commence on the date of this Note, ending on the day which corresponds numerically to such date one (1) month thereafter, provided, however, that if there is no such numerically corresponding day in such first succeeding
month, such Interest Period shall end on the last Business Day of such first succeeding month. If an Interest Period would otherwise end on a day which is not a Business Day, such Interest Period shall end on the next succeeding Business Day,
provided, however, that if said next succeeding Business Day falls in a new calendar month, such Interest Period shall end on the immediately preceding Business Day. 

“Floating Rate” means the greater of (i) the sum of (A) -2% per annum plus (B) the Prime
Rate and (ii) 1% per annum. 
 “LIBOR Rate” means with respect to any borrowing for any Interest
Period, the interest rate determined by the Bank by reference to Reuters Screen LIBOR01, formerly known as Page 3750 of the Moneyline Telerate Service (together with any successor or substitute, the “Service”) or any successor or
substitute page of the Service providing rate quotations comparable to those currently provided on such page of the Service, as determined by the Bank from time to time for purposes of providing quotations of interest rates applicable to dollar
deposits in the London interbank market, to be the rate at approximately 11:00 a.m. London time, two Business Days prior to the commencement of the Interest Period for dollar deposits with a maturity equal to such Interest Period. If no LIBOR Rate
is available to the Bank, the applicable LIBOR Rate for the relevant Interest Period shall instead be the rate determined by the Bank to be the rate at which the Bank offers to place U.S. dollar deposits having a maturity equal to such Interest
Period with first-class banks in the London interbank market at approximately 11:00 a.m. (London time) two Business Days prior to the first day of such Interest Period. 

 “Prime Rate” means the rate of interest per annum announced from
time to time by the Bank as its prime rate. The Prime Rate is a variable rate and each change in the Prime Rate is effective from and including the date the change is announced as being effective. THE PRIME RATE IS A REFERENCE RATE AND MAY NOT BE
THE BANK’S LOWEST RATE. 
 “Regulation D” means Regulation D of the Board of Governors of the Federal
Reserve System as from time to time in effect and any successor thereto or other regulation or official interpretation of said Board of Governors relating to reserve requirements applicable to member banks of the Federal Reserve System. 

“Reserve Requirement” means the maximum aggregate reserve requirement (including all basic, supplemental,
marginal and other reserves) which is imposed under Regulation D. 
 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 the per annum rate otherwise applicable
hereunder from time to time in the absence of such an event of default 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 June 1, 2014. All outstanding principal and interest is due and payable in full on September 30, 2017. 

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 

  
 -2- 

 
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. 
 Illegality; Inability to Determine
Interest Rate. If the Bank determines that (a) any applicable domestic or foreign law, treaty, rule or regulation now or later in effect (whether or not it now applies to the Bank) or the interpretation or administration thereof by a
governmental authority charged with such interpretation or administration, or compliance by the Bank with any guideline, request or directive of such an authority (whether or not having the force of law), shall make it unlawful or impossible for the
Bank to maintain or fund advances hereunder at a rate of interest based upon LIBOR Rate, (b) quotations of interest rates for the relevant deposits referred to in the definition of LIBOR Rate are not being provided for purposes of determining
the Adjusted LIBOR Rate as provided in this Note, or (c) the relevant interest rates referred to in the definition of Adjusted LIBOR Rate do not accurately cover the cost to the Bank of making, funding or maintaining advances under this Note
then, upon notice to the Borrower by the Bank, the advances hereunder shall bear interest at the Floating Rate. 
 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 $12,000,000 dated August 31, 2012 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 September 2, 2011 but effective as of August 31, 2011 made by the Borrower in favor of the Bank, 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 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. 

  
 -3- 

 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. 

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/ Steven J. Quinlan

				
		 		  	Its:	 	 Steven J. Quinlan
                Vice President and CFO

		 		  		 	Printed Name	  	    Title
		 		  		 		  	

  
 -4-EX-10.4

 Exhibit 10.4 

FOURTH AMENDMENT TO CREDIT AGREEMENT 

THIS FOURTH AMENDMENT TO CREDIT AGREEMENT, dated as of May 30, 2014 (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, Second Amendment to Credit Agreement dated as of September 2,
2011 but effective as of August 31, 2011 and Third Amendment to Credit Agreement dated as of August 31, 2012 (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 of the Fourth Amendment hereof or the date of any subsequent 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 Section 8.11 is amended and restated as follows: 

 

	 	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, liquidity
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 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. Notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines, requirements or directives
thereunder or issued in connection therewith or in the implementation thereof, and (y) all requests, rules, guidelines, requirements or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision
(or any successor or similar authority) or the U.S. or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a change in Legal Requirement, regardless of the date enacted, adopted, issued or
implemented. 

 1.3 Section 8.18 is added to the Credit Agreement, immediately following Section 8.17, as follows:

  

	 	8.18	Anti-Corruption Laws and Sanctions.  

 Definitions. As used in this section, the
following terms have the following respective meanings: 
 “Anti-Corruption Laws” means all laws, rules,
and regulations of any jurisdiction applicable to the Borrower or its Subsidiaries from time to time concerning or relating to bribery or corruption. 

  
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[Fourth Amendment to Credit Agreement – Neogen Corporation] 

 “Sanctions” means economic or financial sanctions or trade
embargoes imposed, administered or enforced from time to time by (a) the U.S. government, including those administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State, or
(b) the United Nations Security Council, the European Union or Her Majesty’s Treasury of the United Kingdom. 

“Sanctioned Country” means, at any time, a country or territory which is the subject or target of any
Sanctions. 
 “Sanctioned Person” means, at any time, (a) any Person listed in any Sanctions-related
list of designated Persons maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury, the U.S. Department of State, the or by the United Nations Security Council, the European Union or any EU member state,
(b) any Person operating, organized or resident in a Sanctioned Country or (c) any Person controlled by any such Person. 

Representations. To induce the Bank to enter into the Fourth Amendment to this agreement and to extend credit or other financial
accommodations under the Credit Facilities, the Borrower represents and warrants as of the date of the Fourth Amendment to 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: The Borrower has implemented and maintains in effect
policies and procedures designed to ensure compliance by the Borrower, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions, and the Borrower, its Subsidiaries and their
respective officers and employees and to the knowledge of the Borrower its directors and agents, are in compliance with Anti-Corruption Laws and applicable Sanctions in all material respects. None of (a) the Borrower, any Subsidiary or any of
their respective directors, officers or employees, or (b) to the knowledge of the Borrower, any agent of the Borrower or any Subsidiary that will act in any capacity in connection with or benefit from the credit facility established hereby, is
a Sanctioned Person. No Borrowing or Letter of Credit, use of proceeds or other transaction contemplated by this Agreement will violate Anti-Corruption Laws or applicable Sanctions. 

Covenants. To induce the Bank to enter into the Fourth Amendment to this agreement and to extend credit or other financial
accommodations under the Credit Facilities, the Borrower agrees that (a) it will maintain in effect and enforce policies and procedures designed to ensure compliance by the Borrower, its Subsidiaries and their respective directors, officers,
employees and agents with Anti-Corruption Laws and applicable Sanctions, and (b) it will not request any extension of credit under the Credit Facilities, including without limitation any Letter of Credit, and the Borrower shall not use, and
shall procure that its Subsidiaries and its or their respective directors, officers, employees and agents shall not use, the proceeds of any extension of credit under the Credit Facilities, including without limitation any Letter of Credit,
(i) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or 

  
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[Fourth Amendment to Credit Agreement – Neogen Corporation] 

 
anything else of value, to any Person in violation of any Anti-Corruption Laws, (ii) for the purpose of funding, financing or facilitating any activities, business or transaction of or with
any Sanctioned Person, or in any Sanctioned Country, or (iii) in any manner that would result in the violation of any Sanctions applicable to any party hereto. 

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, 2013 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, 2013. 
 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. 

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. 

  
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[Fourth Amendment to Credit Agreement – Neogen Corporation] 

 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. 

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. 

  
 -5- 

[Fourth Amendment to Credit Agreement – Neogen Corporation] 

 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. 

[The remainder of this page intentionally left blank.] 

  
 -6- 

[Fourth 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

		 		 		 	Steven J. Quinlan
		 		 	Its:	 	Vice President and Chief Financial Officer

  

							
		 		 	JPMORGAN CHASE BANK, N.A.
				
		 		 	By:	 	 /s/ James Keyes

		 		 		 	James Keyes
		 		 	Its:	 	Vice President

  
 -7- 

[Fourth Amendment to Credit Agreement – Neogen Corporation]

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